TRANSPORT PICUS: 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.
TRANSPORT PICUS
Largest movements
- Tangible fixed assets +€137,553
up €137,553 (+108%), from €127,623 to €265,176
of which Furniture and vehicles: +€160,801
- Receivables within one year +€31,445
up €31,445 (+61.7%), from €50,949 to €82,393
of which Trade receivables: +€28,395
- Cash -€8,526
down €8,526 (-13.8%), from €61,776 to €53,250
mainly Investment in fixed assets (net) (-€215,721) and Receivables within one year (-€31,445)
- Debts after one year +€124,341
up €124,341 (+281%), from €44,191 to €168,531
- Current portion of long-term debt +€27,383
up €27,383 (+108%), from €25,294 to €52,677
- Reserves +€11,633
up €11,633 (+12.6%), from €92,047 to €103,680
- Tax, wage and social debts +€4,474
up €4,474 (+29.6%), from €15,092 to €19,566
of which Taxes: +€3,288
- Other debts -€4,426
down €4,426 (-35.6%), from €12,446 to €8,019
- Gross operating margin +€151,609
up €151,609 (+64.4%), from €235,283 to €386,892
- Staff costs +€122,450
up €122,450 (+77.1%), from €158,777 to €281,227
- Depreciation +€42,040
up €42,040 (+116%), from €36,128 to €78,168
- Financial charges +€5,556
up €5,556 (+152%), from €3,650 to €9,206
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.
Derived cash bridge
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 | €241,212 | €402,612 | +€161,400 | +66.9% |
| Fixed assets | 21/28 | €127,623 | €265,176 | +€137,553 | +108% |
| Tangible fixed assets | 22/27 | €127,623 | €265,176 | +€137,553 | +108% |
| Plant, machinery and equipment | 23 | €2,375 | €1,827 | -€548 | -23.1% |
| Furniture and vehicles | 24 | €84,200 | €245,001 | +€160,801 | +191% |
| Leasing and similar rights | 25 | €41,048 | €18,348 | -€22,700 | -55.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €113,589 | €137,435 | +€23,847 | +21.0% |
| Amounts receivable within one year | 40/41 | €50,949 | €82,393 | +€31,445 | +61.7% |
| Trade receivables | 40 | €50,680 | €79,074 | +€28,395 | +56.0% |
| Other amounts receivable | 41 | €269 | €3,319 | +€3,050 | +1,134% |
| Cash at bank and in hand | 54/58 | €61,776 | €53,250 | -€8,526 | -13.8% |
| Deferred charges and accrued income | 490/1 | €864 | €1,793 | +€929 | +107% |
| Total equity and liabilities | 10/49 | €241,212 | €402,612 | +€161,400 | +66.9% |
| Equity | 10/15 | €132,047 | €143,680 | +€11,633 | +8.8% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €92,047 | €103,680 | +€11,633 | +12.6% |
| Distributable reserves | 133 | €92,047 | €103,680 | +€11,633 | +12.6% |
| Amounts payable | 17/49 | €109,165 | €258,931 | +€149,767 | +137% |
| Amounts payable after more than one year | 17 | €44,191 | €168,531 | +€124,341 | +281% |
| Financial debts | 170/4 | €44,191 | €168,531 | +€124,341 | +281% |
| Amounts payable within one year | 42/48 | €64,974 | €90,400 | +€25,426 | +39.1% |
| Current portion of amounts payable after more than one year | 42 | €25,294 | €52,677 | +€27,383 | +108% |
| Trade debts | 44 | €12,142 | €10,138 | -€2,005 | -16.5% |
| Suppliers | 440/4 | €12,142 | €10,138 | -€2,005 | -16.5% |
| Taxes, remuneration and social security | 45 | €15,092 | €19,566 | +€4,474 | +29.6% |
| Taxes | 450/3 | €7,676 | €10,964 | +€3,288 | +42.8% |
| Remuneration and social security | 454/9 | €7,416 | €8,602 | +€1,186 | +16.0% |
| Other amounts payable | 47/48 | €12,446 | €8,019 | -€4,426 | -35.6% |
| Non-recurring operating income | 76A | €6,246 | €0 | -€6,246 | -100% |
| Remuneration, social security and pensions | 62 | €158,777 | €281,227 | +€122,450 | +77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,128 | €78,168 | +€42,040 | +116% |
| Other operating charges | 640/8 | €3,425 | €2,103 | -€1,322 | -38.6% |
| Gross operating margin | 9900 | €235,283 | €386,892 | +€151,609 | +64.4% |
| Operating profit (loss) | 9901 | €36,952 | €25,394 | -€11,558 | -31.3% |
| Financial income | 75/76B | €413 | €0 | -€413 | -100% |
| Recurring financial income | 75 | €413 | €0 | -€413 | -100% |
| Financial charges | 65/66B | €3,650 | €9,206 | +€5,556 | +152% |
| Recurring financial charges | 65 | €3,650 | €9,206 | +€5,556 | +152% |
| Profit (loss) for the period before taxes | 9903 | €33,715 | €16,188 | -€17,527 | -52.0% |
| Income taxes | 67/77 | €7,376 | €4,556 | -€2,820 | -38.2% |
| Profit (loss) for the period | 9904 | €26,339 | €11,633 | -€14,706 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,339 | €11,633 | -€14,706 | -55.8% |
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 26 October 2026 via checked.be.