PACKSTORE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 7 filings
Turnover
≈ €490,000
Estimated: probably between €330,000 and €850,000
Total assets
€14.2m▲ 113×
2024 · €125,645
Net result
€17,175▼ 69.3%
2024 · €55,979
Working capital
€113,602▲ 105%
2024 · €55,317
In the rankings
#1 company by equity in Aalter, Administrative and support services sector#3 company by total assets in Aalter, Administrative and support services sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€35,429
▼ 53.9%
2025
20192025
Net result
€17,175
▼ 69.3%
2025
middle half of the sector
20192025
Equity
€14.1m
▲ 255×
2025
highest quarter of the sector
20192025
Total assets
€14.2m
▲ 113×
2025
highest quarter of the sector
20192025
Debt
€73,352
▲ 4.3%
2025
20192025
Working capital
€113,602
▲ 105%
2025
middle half of the sector
20192025
Solvency
99.5%
▲ 55.5pp
2025
highest quarter of the sector
20192025
Current ratio
2.55
▲ 0.76
2025
middle half of the sector
20192025
Return on assets (ROA)
0.1%
▼ 44.4pp
2025
middle half of the sector
20192025
Staff (FTE)
1.7
▼ 15.0%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.09m-€0.03m€0.003m▼ 89.9%€0.04m▲ 15×€0.005m▼ 87.7%€0.08m▲ 16×€0.04m▼ 53.9%
Net result-€0.09m-€0.02mwithin the sector's middle half€0.002mwithin the sector's middle half▼ 92.6%€0.04mwithin the sector's middle half▲ 21×€0.003mwithin the sector's middle half▼ 91.8%€0.06mwithin the sector's middle half▲ 18×€0.02mwithin the sector's middle half▼ 69.3%
Equity-€0.07m--€0.04mbelow the sector's middle half▲ 36.5%-€0.04mbelow the sector's middle half▲ 4.2%-€0.004mbelow the sector's middle half▲ 90.9%-€0.001mbelow the sector's middle half▲ 82.5%€0.06mbelow the sector's middle half€14.1mabove the sector's middle half▲ 255×
Total assets€0.02m-€0.02mbelow the sector's middle half▲ 17.8%€0.05mbelow the sector's middle half▲ 154%€0.04mbelow the sector's middle half▼ 25.2%€0.07mbelow the sector's middle half▲ 72.3%€0.1mbelow the sector's middle half▲ 77.6%€14.2mabove the sector's middle half▲ 113×
Debt€0.09m-€0.07m▼ 25.0%€0.1m▲ 48.2%€0.04m▼ 53.6%€0.07m▲ 59.2%€0.07m▼ 1.5%€0.07m▲ 4.3%
Working capital-€0.07m--€0.04mwithin the sector's middle half▲ 36.5%-€0.04mwithin the sector's middle half▲ 4.2%-€0.004mwithin the sector's middle half▲ 90.9%-€0.001mwithin the sector's middle half▲ 82.5%€0.06mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 105%
Solvency-373.2%--201.3%below the sector's middle half▲ 171.9pp-76.0%below the sector's middle half▲ 125.3pp-9.2%below the sector's middle half▲ 66.7pp-0.9%below the sector's middle half▲ 8.3pp44.0%within the sector's middle half▲ 45.0pp99.5%above the sector's middle half▲ 55.5pp
Current ratio0.21-0.33below the sector's middle half▲ 0.120.57below the sector's middle half▲ 0.240.92within the sector's middle half▲ 0.350.99within the sector's middle half▲ 0.081.79within the sector's middle half▲ 0.802.55within the sector's middle half▲ 0.76
Return on assets (ROA)-474.3%-115.4%above the sector's middle half▲ 589.7pp3.4%within the sector's middle half▼ 112.1pp92.3%above the sector's middle half▲ 89.0pp4.4%within the sector's middle half▼ 87.9pp44.6%above the sector's middle half▲ 40.1pp0.1%within the sector's middle half▼ 44.4pp
Staff (FTE)1-0.9below the sector's middle half▼ 10.0%2within the sector's middle half▲ 122%0.9below the sector's middle half▼ 55.0%1.6within the sector's middle half▲ 77.8%2within the sector's middle half▲ 25.0%1.7within the sector's middle half▼ 15.0%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 54% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.2m
Fixed assets
€14.0m
Current assets
€186,953
Equity and liabilities €14.2m
Equity
€14.1m ▲ 255×
Debt
€73,352 ▲ 4.3%
Debt's share of the balance-sheet total falls from 56.0% to 0.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€76,537
Cash flow
€58,284
Debt to equity
0.01▼
2024 · 1.27
ROE
0.1%▼
2024 · 101.2%
Interest coverage
over 100
Debt ≤ 1 year
€73,352▲
2024 · €70,328
Income taxes
€20,028▼
2024 · €20,928
Staff costs
€189,678▼
2024 · €215,076
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 2 | 2 | 2 |
| full-time | 1 | - | - | 1 | - |
| part-time | - | 1 | 2 | 1 | 2 |
| in full-time equivalents | 1 | 0.8 | 1.6 | 1.8 | 1.7 |
| Average over the year, in full-time equivalents | 2 | 0.9 | 1.6 | 2 | 1.7 |
| On a permanent contract | 1 | 1 | 2 | 2 | 2 |
| Joined | 2 | - | 2 | 1 | - |
| Left | 2 | - | 1 | 1 | - |
| Training hours | - | - | 12 | 16 | 7 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €14.4m |
| Depreciation and write-downs of the year | - | - | - | - | €41,109 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €188,956 | €41,931 | €179,910 | €215,076 | €189,678 | ▼ 11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | - | €41,109 | - |
| Other operating charges640/8 | - | - | €120 | €2,517 | €132 | €141 | €144 | ▲ 2.6% |
| Gross operating margin9900 | -€62,741 | €112,512 | €191,706 | €83,301 | €184,804 | €292,105 | €266,359 | ▼ 8.8% |
| Operating profit (loss)9901 | -€86,316 | €26,125 | €2,629 | €38,853 | €4,762 | €76,888 | €35,429 | ▼ 53.9% |
| Financial income75/76B | - | - | - | - | - | €1,032 | €2,075 | ▲ 101% |
| Recurring financial income75 | €19 | - | - | - | - | €1,032 | €2,075 | ▲ 101% |
| Financial charges65/66B | - | - | €611 | €793 | €1,145 | €1,013 | €300 | ▼ 70.4% |
| Recurring financial charges65 | €714 | €1,049 | €611 | €793 | €1,145 | €973 | €300 | ▼ 69.2% |
| Non-recurring financial charges66B | - | - | - | - | - | €40 | - | - |
| Profit (loss) for the period before taxes9903 | -€87,010 | €25,076 | €2,018 | €38,061 | €3,618 | €76,907 | €37,204 | ▼ 51.6% |
| Income taxes67/77 | €40 | €107 | €179 | €156 | €492 | €20,928 | €20,028 | ▼ 4.3% |
| Profit (loss) for the period9904 | -€87,050 | €24,968 | €1,839 | €37,905 | €3,126 | €55,979 | €17,175 | ▼ 69.3% |
| Profit (loss) for the period to be appropriated9905 | -€87,050 | €24,968 | €1,839 | €37,905 | €3,126 | €55,979 | €17,175 | ▼ 69.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.02m | €0.02m | €0.05m | €0.04m | €0.07m | €0.1m | €14.2m | ▲ 113× |
| Fixed assets21/28 | - | - | - | - | - | - | €14.0m | - |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €14.0m | - |
| Land and buildings22 | - | - | - | - | - | - | €11.7m | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.6m | - |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €1.7m | - |
| Current assets29/58 | €0.02m | €0.02m | €0.05m | €0.04m | €0.07m | €0.1m | €0.2m | ▲ 48.8% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.05m | €0.04m | €0.07m | €0.1m | €0.2m | ▲ 48.8% |
| Trade receivables40 | - | - | €0.05m | €0.04m | €0.07m | €0.06m | €0.1m | ▲ 97.3% |
| Other amounts receivable41 | - | - | €38 | €22 | €116 | €0.07m | €0.07m | ▲ 4.1% |
| Cash at bank and in hand54/58 | - | - | - | - | €72 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.02m | €0.02m | €0.05m | €0.04m | €0.07m | €0.1m | €14.2m | ▲ 113× |
| Equity10/15 | -€0.07m | -€0.04m | -€0.04m | -€0.004m | -€0.001m | €0.06m | €14.1m | ▲ 255× |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €14.0m | ▲ 757× |
| Reserves13 | - | - | - | - | - | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | - | - | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.09m | -€0.06m | -€0.06m | -€0.02m | -€0.02m | €0.03m | €0.05m | ▲ 49.2% |
| Amounts payable17/49 | €0.09m | €0.07m | €0.1m | €0.04m | €0.07m | €0.07m | €0.07m | ▲ 4.3% |
| Amounts payable within one year42/48 | €0.09m | €0.07m | €0.1m | €0.04m | €0.07m | €0.07m | €0.07m | ▲ 4.3% |
| Trade debts44 | €0.02m | €0.005m | €0.02m | €0.008m | €0.01m | €0.01m | €0.02m | ▲ 20.1% |
| Suppliers440/4 | - | - | €0.02m | €0.008m | €0.01m | €0.01m | €0.02m | ▲ 20.1% |
| Taxes, remuneration and social security45 | - | - | €0.02m | €0.01m | €0.02m | €0.06m | €0.06m | ▲ 0.3% |
| Taxes450/3 | - | - | €0.001m | €56 | €0.001m | €0.02m | €0.02m | ▲ 5.9% |
| Remuneration and social security454/9 | - | - | €0.02m | €0.01m | €0.02m | €0.03m | €0.03m | ▼ 3.5% |
| Other amounts payable47/48 | - | - | €0.06m | €0.03m | €0.04m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€87,050 | €24,968 | €1,839 | €37,905 | €3,126 | €55,979 | €17,175 | ▼ 69.3% |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €41,109 | - |
| Operating cash flow (approximation) | -€87,050 | €24,968 | €1,839 | €37,905 | €3,126 | €55,979 | €58,284 | ▲ 4.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 5,047 companies had the same profile as PACKSTORE has now. Two years later, 93.9% were still going and 2.2% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
93.9%
was still going
3.8%
stopped otherwise
2.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PACKSTORE itself is lower: 0.4% within 12 months. It rests on far more data about PACKSTORE than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 5,047 companies, not a prediction for PACKSTORE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-06-2026 | 2026-00199104 | |
| 31-12-2024 | abbreviated format | 18-06-2025 | 2025-00160132 | |
| 31-12-2023 | abbreviated format | 04-07-2024 | 2024-00221744 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00225156 | |
| 31-12-2021 | abbreviated format | 08-07-2022 | 2022-20170828 | |
| 31-12-2020 | abbreviated format | 01-07-2021 | 2021-29500392 | |
| 31-12-2019 | abbreviated format | 08-07-2020 | 2020-27900003 |