Option Explicit

  Private Sub Worksheet_Calculate()
        Dim oPic As Picture
        Me.Pictures.Visible = False
        ActiveSheet.Shapes("Picture 1").Visible = True
        With Range("H1")
            For Each oPic In Me.Pictures
                If oPic.Name = .Text Then
                    oPic.Visible = True
                    oPic.Top = .Top
                    oPic.Left = .Left
                    Exit For
                End If
            Next oPic
        End With
    End Sub