BELGAPACK: 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.
BELGAPACK
Largest movements
- Cash +€151,674
up €151,674 (+42.8%), from €354,218 to €505,892
mainly Net result for the year (+€492,416) and Other debts (+€187,155)
- Receivables within one year +€119,053
up €119,053 (+7.8%), from €1.5m to €1.6m
of which Trade receivables: +€85,600
- Tangible fixed assets -€51,934
down €51,934 (-4.3%), from €1.2m to €1.2m
of which Land and buildings: -€57,892
- Reserves +€242,416
up €242,416 (+9.9%), from €2.5m to €2.7m
of which Distributable reserves: +€242,416
- Other debts +€187,155
up €187,155 (+35.6%), from €525,537 to €712,692
- Debts after one year -€109,153
down €109,153 (-39.1%), from €278,939 to €169,786
- Short-term financial debts -€85,992
down €85,992 (-62.9%), from €136,706 to €50,714
- Trade debts +€62,634
up €62,634 (+35.0%), from €178,919 to €241,553
- Gross operating margin -€477,745
down €477,745 (-18.2%), from €2.6m to €2.1m
- Taxes -€118,126
down €118,126 (-40.8%), from €289,581 to €171,456
- Staff costs -€65,405
down €65,405 (-5.2%), from €1.3m to €1.2m
- Other operating charges +€28,037
up €28,037 (+76.8%), from €36,506 to €64,542
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,056,742 | €4,332,610 | +€275,868 | +6.8% |
| Fixed assets | 21/28 | €1,295,798 | €1,261,396 | -€34,403 | -2.7% |
| Intangible fixed assets | 21 | €77,104 | €94,636 | +€17,532 | +22.7% |
| Tangible fixed assets | 22/27 | €1,218,559 | €1,166,625 | -€51,934 | -4.3% |
| Land and buildings | 22 | €971,469 | €913,577 | -€57,892 | -6.0% |
| Plant, machinery and equipment | 23 | €61,035 | €43,246 | -€17,790 | -29.1% |
| Furniture and vehicles | 24 | €181,741 | €127,918 | -€53,823 | -29.6% |
| Leasing and similar rights | 25 | €4,314 | €81,884 | +€77,570 | +1798.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €2,760,943 | €3,071,214 | +€310,271 | +11.2% |
| Stocks and contracts in progress | 3 | €855,734 | €888,447 | +€32,713 | +3.8% |
| Stocks | 30/36 | €855,734 | €888,447 | +€32,713 | +3.8% |
| Amounts receivable within one year | 40/41 | €1,523,553 | €1,642,606 | +€119,053 | +7.8% |
| Trade receivables | 40 | €1,486,774 | €1,572,374 | +€85,600 | +5.8% |
| Other amounts receivable | 41 | €36,779 | €70,232 | +€33,453 | +91.0% |
| Current investments | 50/53 | €10,709 | €19,024 | +€8,315 | +77.6% |
| Cash at bank and in hand | 54/58 | €354,218 | €505,892 | +€151,674 | +42.8% |
| Deferred charges and accrued income | 490/1 | €16,729 | €15,245 | -€1,485 | -8.9% |
| Total equity and liabilities | 10/49 | €4,056,742 | €4,332,610 | +€275,868 | +6.8% |
| Equity | 10/15 | €2,555,351 | €2,797,767 | +€242,416 | +9.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,455,351 | €2,697,767 | +€242,416 | +9.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €2,445,351 | €2,687,767 | +€242,416 | +9.9% |
| Amounts payable | 17/49 | €1,501,391 | €1,534,843 | +€33,452 | +2.2% |
| Amounts payable after more than one year | 17 | €278,939 | €169,786 | -€109,153 | -39.1% |
| Financial debts | 170/4 | €278,939 | €169,786 | -€109,153 | -39.1% |
| Amounts payable within one year | 42/48 | €1,215,478 | €1,351,753 | +€136,275 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €156,938 | €173,067 | +€16,130 | +10.3% |
| Financial debts | 43 | €136,706 | €50,714 | -€85,992 | -62.9% |
| Other loans | 439 | €136,706 | €50,714 | -€85,992 | -62.9% |
| Trade debts | 44 | €178,919 | €241,553 | +€62,634 | +35.0% |
| Suppliers | 440/4 | €178,919 | €241,553 | +€62,634 | +35.0% |
| Taxes, remuneration and social security | 45 | €217,379 | €173,727 | -€43,652 | -20.1% |
| Taxes | 450/3 | €91,699 | €63,085 | -€28,613 | -31.2% |
| Remuneration and social security | 454/9 | €125,680 | €110,642 | -€15,038 | -12.0% |
| Other amounts payable | 47/48 | €525,537 | €712,692 | +€187,155 | +35.6% |
| Accrued charges and deferred income | 492/3 | €6,974 | €13,304 | +€6,330 | +90.8% |
| Remuneration, social security and pensions | 62 | €1,265,974 | €1,200,568 | -€65,405 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,862 | €182,367 | +€11,505 | +6.7% |
| Other operating charges | 640/8 | €36,506 | €64,542 | +€28,037 | +76.8% |
| Gross operating margin | 9900 | €2,625,593 | €2,147,849 | -€477,745 | -18.2% |
| Operating profit (loss) | 9901 | €1,152,252 | €700,371 | -€451,882 | -39.2% |
| Financial income | 75/76B | €43,604 | €33,383 | -€10,222 | -23.4% |
| Recurring financial income | 75 | €43,604 | €33,383 | -€10,222 | -23.4% |
| Financial charges | 65/66B | €55,215 | €69,881 | +€14,666 | +26.6% |
| Recurring financial charges | 65 | €55,215 | €69,881 | +€14,666 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €1,140,641 | €663,872 | -€476,769 | -41.8% |
| Income taxes | 67/77 | €289,581 | €171,456 | -€118,126 | -40.8% |
| Profit (loss) for the period | 9904 | €851,060 | €492,416 | -€358,644 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €851,060 | €492,416 | -€358,644 | -42.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.