Project Pica: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Project Pica
Largest movements
- Intangible fixed assets +€17,021
new in 2025: €17,021
- Receivables within one year +€4,064
up €4,064 (+795.2%), from €511 to €4,575
- Formation expenses -€271
down €271 (-20.9%), from €1,293 to €1,022
- Debts after one year +€24,526
new in 2025: €24,526
- Profit (loss) carried forward -€5,330
down €5,330 (-340.8%), from -€1,564 to -€6,894
- Other debts +€2,012
new in 2025: €2,012
- Trade debts -€996
down €996 (-54.9%), from €1,815 to €819
- Accrued charges and deferred income +€689
new in 2025: €689
- Gross operating margin -€1,577
down €1,577 (-105.1%), from -€1,500 to -€3,077
- Other operating charges +€1,240
new in 2025: €1,240
- Financial charges +€738
up €738 (+21906.8%), from €3 to €742
- Depreciation +€210
up €210 (+346.3%), from €61 to €271
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,251 | €23,153 | +€20,902 | +928.6% |
| Formation expenses | 20 | €1,293 | €1,022 | -€271 | -20.9% |
| Fixed assets | 21/28 | - | €17,021 | +€17,021 | |
| Intangible fixed assets | 21 | - | €17,021 | +€17,021 | |
| Current assets | 29/58 | €958 | €5,109 | +€4,152 | +433.5% |
| Amounts receivable within one year | 40/41 | €511 | €4,575 | +€4,064 | +795.2% |
| Other amounts receivable | 41 | €511 | €4,575 | +€4,064 | +795.2% |
| Cash at bank and in hand | 54/58 | €447 | €534 | +€88 | +19.6% |
| Total equity and liabilities | 10/49 | €2,251 | €23,153 | +€20,902 | +928.6% |
| Equity | 10/15 | €436 | -€4,894 | -€5,330 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,564 | -€6,894 | -€5,330 | -340.8% |
| Amounts payable | 17/49 | €1,815 | €28,046 | +€26,231 | +1445.2% |
| Amounts payable after more than one year | 17 | - | €24,526 | +€24,526 | |
| Financial debts | 170/4 | - | €24,526 | +€24,526 | |
| Amounts payable within one year | 42/48 | €1,815 | €2,831 | +€1,016 | +56.0% |
| Trade debts | 44 | €1,815 | €819 | -€996 | -54.9% |
| Suppliers | 440/4 | €1,815 | €819 | -€996 | -54.9% |
| Other amounts payable | 47/48 | - | €2,012 | +€2,012 | |
| Accrued charges and deferred income | 492/3 | - | €689 | +€689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €271 | +€210 | +346.3% |
| Other operating charges | 640/8 | - | €1,240 | +€1,240 | |
| Gross operating margin | 9900 | -€1,500 | -€3,077 | -€1,577 | -105.1% |
| Operating profit (loss) | 9901 | -€1,561 | -€4,588 | -€3,027 | -194.0% |
| Financial charges | 65/66B | €3 | €742 | +€738 | +21906.8% |
| Recurring financial charges | 65 | €3 | €742 | +€738 | +21906.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,564 | -€5,330 | -€3,765 | -240.8% |
| Profit (loss) for the period | 9904 | -€1,564 | -€5,330 | -€3,765 | -240.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,564 | -€5,330 | -€3,765 | -240.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.