BAGPACK: 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.
BAGPACK
Largest movements
- Cash -€37,109
down €37,109 (-61.6%), from €60,251 to €23,142
mainly Investment in fixed assets (net) (-€27,037) and Receivables within one year (-€26,256)
- Receivables within one year +€26,256
up €26,256 (+94.0%), from €27,927 to €54,182
of which Trade receivables: +€26,672
- Tangible fixed assets -€7,330
down €7,330 (-1.3%), from €544,412 to €537,082
of which Furniture and vehicles: -€8,047
- Other debts -€18,568
down €18,568 (-4.9%), from €379,761 to €361,193
- Profit (loss) carried forward -€12,071
down €12,071 (-6.9%), from €173,724 to €161,654
- Trade debts +€10,051
up €10,051 (+98.8%), from €10,177 to €20,228
- Taxes -€1,807
down €1,807 (-18.9%), from €9,574 to €7,767
- Gross operating margin +€1,311
up €1,311 (+3.7%), from €35,639 to €36,950
- Other operating charges +€610
up €610 (+10.5%), from €5,832 to €6,442
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 | €645,552 | €630,348 | -€15,204 | -2.4% |
| Fixed assets | 21/28 | €556,812 | €549,481 | -€7,330 | -1.3% |
| Tangible fixed assets | 22/27 | €544,412 | €537,082 | -€7,330 | -1.3% |
| Land and buildings | 22 | €533,301 | €534,017 | +€717 | +0.1% |
| Furniture and vehicles | 24 | €11,111 | €3,064 | -€8,047 | -72.4% |
| Financial fixed assets | 28 | €12,400 | €12,400 | = | 0.0% |
| Current assets | 29/58 | €88,740 | €80,867 | -€7,873 | -8.9% |
| Amounts receivable within one year | 40/41 | €27,927 | €54,182 | +€26,256 | +94.0% |
| Trade receivables | 40 | €27,511 | €54,182 | +€26,672 | +97.0% |
| Other amounts receivable | 41 | €416 | €0 | -€416 | -100.0% |
| Cash at bank and in hand | 54/58 | €60,251 | €23,142 | -€37,109 | -61.6% |
| Deferred charges and accrued income | 490/1 | €562 | €3,542 | +€2,980 | +530.1% |
| Total equity and liabilities | 10/49 | €645,552 | €630,348 | -€15,204 | -2.4% |
| Equity | 10/15 | €243,024 | €230,954 | -€12,071 | -5.0% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €6,300 | €6,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,724 | €161,654 | -€12,071 | -6.9% |
| Amounts payable | 17/49 | €402,527 | €399,394 | -€3,133 | -0.8% |
| Amounts payable after more than one year | 17 | €2,272 | €0 | -€2,272 | -100.0% |
| Financial debts | 170/4 | €2,272 | €0 | -€2,272 | -100.0% |
| Amounts payable within one year | 42/48 | €400,256 | €393,377 | -€6,878 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €4,558 | €2,312 | -€2,246 | -49.3% |
| Trade debts | 44 | €10,177 | €20,228 | +€10,051 | +98.8% |
| Suppliers | 440/4 | €10,177 | €20,228 | +€10,051 | +98.8% |
| Taxes, remuneration and social security | 45 | €5,760 | €9,645 | +€3,885 | +67.4% |
| Taxes | 450/3 | €5,760 | €9,645 | +€3,885 | +67.4% |
| Other amounts payable | 47/48 | €379,761 | €361,193 | -€18,568 | -4.9% |
| Accrued charges and deferred income | 492/3 | - | €6,017 | +€6,017 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,331 | €34,368 | +€37 | +0.1% |
| Other operating charges | 640/8 | €5,832 | €6,442 | +€610 | +10.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,639 | €36,950 | +€1,311 | +3.7% |
| Operating profit (loss) | 9901 | -€4,525 | -€3,860 | +€664 | +14.7% |
| Financial income | 75/76B | €1 | €1 | +€0 | +42.9% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +42.9% |
| Financial charges | 65/66B | €207 | €445 | +€238 | +115.0% |
| Recurring financial charges | 65 | €207 | €445 | +€238 | +115.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,731 | -€4,304 | +€427 | +9.0% |
| Income taxes | 67/77 | €9,574 | €7,767 | -€1,807 | -18.9% |
| Profit (loss) for the period | 9904 | -€14,304 | -€12,071 | +€2,234 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,304 | -€12,071 | +€2,234 | +15.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.