B-PACK: what changed
Two fiscal 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.
B-PACK
Largest movements
- Cash -€57,802
down €57,802 (-18.4%), from €314,202 to €256,400
mainly Other debts (-€30,088) and Debts after one year (-€21,180)
- Receivables within one year +€19,001
up €19,001 (+145.9%), from €13,026 to €32,027
of which Other amounts receivable: +€20,525
- Tangible fixed assets -€10,976
down €10,976 (-9.6%), from €114,175 to €103,199
of which Land and buildings: -€10,295
- Other debts -€30,088
down €30,088 (-79.8%), from €37,725 to €7,637
- Debts after one year -€21,180
no longer reported in 2025 (was €21,180)
- Reserves +€12,359
up €12,359 (+3.5%), from €353,550 to €365,909
- Tax, wage and social debts -€10,238
no longer reported in 2025 (was €10,238)
- Gross operating margin -€87,868
down €87,868 (-60.3%), from €145,723 to €57,856
- Taxes -€27,824
down €27,824 (-71.6%), from €38,841 to €11,017
- Staff costs +€8,345
new in 2025: €8,345
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 | €446,572 | €395,338 | -€51,234 | -11.5% |
| Fixed assets | 21/28 | €114,175 | €103,199 | -€10,976 | -9.6% |
| Tangible fixed assets | 22/27 | €114,175 | €103,199 | -€10,976 | -9.6% |
| Land and buildings | 22 | €113,257 | €102,962 | -€10,295 | -9.1% |
| Furniture and vehicles | 24 | €918 | €237 | -€681 | -74.2% |
| Current assets | 29/58 | €332,397 | €292,139 | -€40,257 | -12.1% |
| Amounts receivable within one year | 40/41 | €13,026 | €32,027 | +€19,001 | +145.9% |
| Trade receivables | 40 | €13,026 | €11,502 | -€1,524 | -11.7% |
| Other amounts receivable | 41 | - | €20,525 | +€20,525 | |
| Cash at bank and in hand | 54/58 | €314,202 | €256,400 | -€57,802 | -18.4% |
| Deferred charges and accrued income | 490/1 | €5,169 | €3,713 | -€1,456 | -28.2% |
| Total equity and liabilities | 10/49 | €446,572 | €395,338 | -€51,234 | -11.5% |
| Equity | 10/15 | €353,550 | €365,909 | +€12,359 | +3.5% |
| Reserves | 13 | €353,550 | €365,909 | +€12,359 | +3.5% |
| Distributable reserves | 133 | €353,550 | €365,909 | +€12,359 | +3.5% |
| Amounts payable | 17/49 | €93,022 | €29,429 | -€63,593 | -68.4% |
| Amounts payable after more than one year | 17 | €21,180 | - | -€21,180 | |
| Financial debts | 170/4 | €21,180 | - | -€21,180 | |
| Amounts payable within one year | 42/48 | €70,320 | €29,355 | -€40,965 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €22,356 | €21,180 | -€1,175 | -5.3% |
| Trade debts | 44 | - | €537 | +€537 | |
| Suppliers | 440/4 | - | €537 | +€537 | |
| Taxes, remuneration and social security | 45 | €10,238 | - | -€10,238 | |
| Taxes | 450/3 | €10,238 | - | -€10,238 | |
| Other amounts payable | 47/48 | €37,725 | €7,637 | -€30,088 | -79.8% |
| Accrued charges and deferred income | 492/3 | €1,522 | €74 | -€1,448 | -95.1% |
| Remuneration, social security and pensions | 62 | - | €8,345 | +€8,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,995 | €10,976 | -€19 | -0.2% |
| Other operating charges | 640/8 | €1,984 | €2,050 | +€66 | +3.3% |
| Gross operating margin | 9900 | €145,723 | €57,856 | -€87,868 | -60.3% |
| Operating profit (loss) | 9901 | €132,745 | €36,485 | -€96,260 | -72.5% |
| Financial charges | 65/66B | €2,855 | €2,668 | -€187 | -6.5% |
| Recurring financial charges | 65 | €2,855 | €2,668 | -€187 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €129,890 | €33,817 | -€96,073 | -74.0% |
| Income taxes | 67/77 | €38,841 | €11,017 | -€27,824 | -71.6% |
| Profit (loss) for the period | 9904 | €91,049 | €22,800 | -€68,249 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,049 | €22,800 | -€68,249 | -75.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.