CODIPACK: 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.
What changed
CODIPACK
NACE 47.789, Other retail sale of new goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €1.8m+€202,428
Equity
€7.4m
2024 · €6.5m+€922,641
Cash
€1.8m
2024 · €1.5m+€316,100
Balance sheet total
€15.7m
2024 · €13.5m+€2.2m
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+15.9%), from €6.6m to €7.7m
of which Trade receivables: +€1.1m
- Stocks and contracts +€986,089
up €986,089 (+25.5%), from €3.9m to €4.9m
- Cash +€316,100
up €316,100 (+21.7%), from €1.5m to €1.8m
mainly Net result for the year (+€2.0m) and Trade debts (+€1.6m)
Equity and liabilities
- Trade debts +€1.6m
up €1.6m (+58.3%), from €2.7m to €4.3m
- Reserves +€922,641
up €922,641 (+14.4%), from €6.4m to €7.3m
of which Distributable reserves: +€922,641
Income statement
- Turnover +€2.1m
up €2.1m (+7.1%), from €29.9m to €32.0m
- Goods and materials +€1.6m
up €1.6m (+8.5%), from €19.2m to €20.9m
of which Purchases: +€2.5m
- Staff costs +€458,803
up €458,803 (+10.9%), from €4.2m to €4.7m
- Financial income +€383,832
up €383,832 (+228.6%), from €167,912 to €551,744
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.
Result 2024
€1.8m
Turnover
+€2.1m
Other operating income
-€36,948
Goods and materials
-€1.6m
Services and other goods
-€55,253
Staff costs
-€458,803
Depreciation
-€15,487
Write-downs
-€22,078
Other operating charges
-€34,063
Other operating items
+€6,407
Financial income
+€383,832
Financial charges
-€595
Taxes
-€67,396
Result 2025
€2.0m
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.
From operations
+€1.9m
Investment
-€499,551
Financing
-€1.1m
Cash 2024
€1.5m
From operations (derived)
+€1.9m
Net result for the year
+€2.0m
Depreciation
+€596,311
Stocks and contracts
-€986,089
Receivables within one year
-€1.1m
Deferred charges and accrued income
+€9,883
Trade debts
+€1.6m
Tax, wage and social debts
-€155,851
Advances received
-€20,631
Other debts
-€96,582
Investment (derived)
-€499,551
Investment in fixed assets (net)
-€499,551
Financing
-€1.1m
Debts after one year
+€38,034
Current portion of long-term debt
-€14,879
Short-term financial debts
-€21,700
Contributions, distributions and other
-€1.1m
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,498,988 | €15,746,310 | +€2.2m | +16.6% |
| Fixed assets | 21/28 | €1,554,463 | €1,457,703 | -€96,760 | -6.2% |
| Tangible fixed assets | 22/27 | €1,553,338 | €1,457,703 | -€95,635 | -6.2% |
| Plant, machinery and equipment | 23 | €225,227 | €196,875 | -€28,352 | -12.6% |
| Furniture and vehicles | 24 | €1,328,111 | €1,260,828 | -€67,283 | -5.1% |
| Financial fixed assets | 28 | €1,125 | €0 | -€1,125 | -100.0% |
| Other financial fixed assets | 284/8 | €1,125 | €0 | -€1,125 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,125 | €0 | -€1,125 | -100.0% |
| Current assets | 29/58 | €11,944,525 | €14,288,607 | +€2.3m | +19.6% |
| Stocks and contracts in progress | 3 | €3,864,942 | €4,851,031 | +€986,089 | +25.5% |
| Stocks | 30/36 | €3,864,942 | €4,851,031 | +€986,089 | +25.5% |
| Raw materials and consumables | 30/31 | €0 | - | = | |
| Goods purchased for resale | 34 | €3,864,942 | €4,851,031 | +€986,089 | +25.5% |
| Amounts receivable within one year | 40/41 | €6,606,224 | €7,658,000 | +€1.1m | +15.9% |
| Trade receivables | 40 | €6,596,211 | €7,653,555 | +€1.1m | +16.0% |
| Other amounts receivable | 41 | €10,014 | €4,445 | -€5,569 | -55.6% |
| Cash at bank and in hand | 54/58 | €1,459,420 | €1,775,520 | +€316,100 | +21.7% |
| Deferred charges and accrued income | 490/1 | €13,939 | €4,056 | -€9,883 | -70.9% |
| Total equity and liabilities | 10/49 | €13,498,988 | €15,746,310 | +€2.2m | +16.6% |
| Equity | 10/15 | €6,508,509 | €7,431,150 | +€922,641 | +14.2% |
| Contributions | 10/11 | €96,845 | €96,845 | = | 0.0% |
| Capital | 10 | €96,845 | €96,845 | = | 0.0% |
| Issued capital | 100 | €96,845 | €96,845 | = | 0.0% |
| Reserves | 13 | €6,411,664 | €7,334,305 | +€922,641 | +14.4% |
| Non-distributable reserves | 130/1 | €9,684 | €9,684 | = | 0.0% |
| Legal reserve | 130 | €9,684 | €9,684 | = | 0.0% |
| Tax-exempt reserves | 132 | €74,258 | €74,258 | = | 0.0% |
| Distributable reserves | 133 | €6,327,721 | €7,250,362 | +€922,641 | +14.6% |
| Amounts payable | 17/49 | €6,990,479 | €8,315,161 | +€1.3m | +18.9% |
| Amounts payable after more than one year | 17 | €339,990 | €378,024 | +€38,034 | +11.2% |
| Financial debts | 170/4 | €339,990 | €378,024 | +€38,034 | +11.2% |
| Credit institutions | 173 | €68,832 | €106,866 | +€38,034 | +55.3% |
| Other loans | 174 | €271,158 | €271,158 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,650,489 | €7,937,136 | +€1.3m | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €80,471 | €65,592 | -€14,879 | -18.5% |
| Financial debts | 43 | €135,107 | €113,407 | -€21,700 | -16.1% |
| Credit institutions | 430/8 | €135,107 | €113,407 | -€21,700 | -16.1% |
| Trade debts | 44 | €2,738,440 | €4,334,730 | +€1.6m | +58.3% |
| Suppliers | 440/4 | €2,738,440 | €4,334,730 | +€1.6m | +58.3% |
| Advances received on contracts in progress | 46 | €867,275 | €846,644 | -€20,631 | -2.4% |
| Taxes, remuneration and social security | 45 | €1,458,286 | €1,302,435 | -€155,851 | -10.7% |
| Taxes | 450/3 | €985,177 | €762,307 | -€222,870 | -22.6% |
| Remuneration and social security | 454/9 | €473,109 | €540,128 | +€67,019 | +14.2% |
| Other amounts payable | 47/48 | €1,370,910 | €1,274,328 | -€96,582 | -7.0% |
| Operating income | 70/76A | €30,195,417 | €32,296,283 | +€2.1m | +7.0% |
| Turnover | 70 | €29,898,060 | €32,029,663 | +€2.1m | +7.1% |
| Other operating income | 74 | €293,556 | €256,608 | -€36,948 | -12.6% |
| Non-recurring operating income | 76A | €3,801 | €10,012 | +€6,211 | +163.4% |
| Operating charges | 60/66A | €27,786,557 | €30,000,836 | +€2.2m | +8.0% |
| Goods for resale, raw materials and consumables | 60 | €19,225,648 | €20,854,439 | +€1.6m | +8.5% |
| Purchases | 600/8 | €19,371,891 | €21,840,528 | +€2.5m | +12.7% |
| Change in stocks: decrease (increase) | 609 | -€146,243 | -€986,089 | -€839,847 | -574.3% |
| Services and other goods | 61 | €3,768,900 | €3,824,153 | +€55,253 | +1.5% |
| Remuneration, social security and pensions | 62 | €4,194,634 | €4,653,437 | +€458,803 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €580,824 | €596,311 | +€15,487 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€14,507 | €7,571 | +€22,078 | |
| Other operating charges | 640/8 | €30,862 | €64,925 | +€34,063 | +110.4% |
| Non-recurring operating charges | 66A | €196 | €0 | -€196 | -100.0% |
| Operating profit (loss) | 9901 | €2,408,859 | €2,295,447 | -€113,413 | -4.7% |
| Financial income | 75/76B | €167,912 | €551,744 | +€383,832 | +228.6% |
| Recurring financial income | 75 | €167,912 | €551,744 | +€383,832 | +228.6% |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €167,912 | €551,744 | +€383,832 | +228.6% |
| Financial charges | 65/66B | €64,162 | €64,758 | +€595 | +0.9% |
| Recurring financial charges | 65 | €64,162 | €64,758 | +€595 | +0.9% |
| Debt charges | 650 | €30,377 | €34,585 | +€4,208 | +13.9% |
| Other financial charges | 652/9 | €33,785 | €30,173 | -€3,613 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €2,512,609 | €2,782,433 | +€269,825 | +10.7% |
| Income taxes | 67/77 | €692,396 | €759,793 | +€67,396 | +9.7% |
| Taxes | 670/3 | €700,000 | €763,500 | +€63,500 | +9.1% |
| Tax adjustments and reversals of tax provisions | 77 | €7,604 | €3,707 | -€3,896 | -51.2% |
| Profit (loss) for the period | 9904 | €1,820,212 | €2,022,641 | +€202,428 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,820,212 | €2,022,641 | +€202,428 | +11.1% |
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 29 September 2026 via checked.be.