COEMAN PACKAGING: what changed
Two financial 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
COEMAN PACKAGING
NACE 46.869, Wholesale trade
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€5.1m
2025 · €6.0m-€833,364
Equity
€21.3m
2025 · €16.2m+€5.1m
Cash
€1.1m
2025 · €746,476+€317,778
Balance sheet total
€25.2m
2025 · €24.3m+€909,990
Largest movements
Assets
- Current investments +€1.3m
up €1.3m (+12.5%), from €10.8m to €12.1m
- Receivables within one year -€880,376
down €880,376 (-16.1%), from €5.5m to €4.6m
of which Other amounts receivable: -€515,839
- Cash +€317,778
up €317,778 (+42.6%), from €746,476 to €1.1m
mainly Net result for the year (+€5.1m) and Receivables within one year (+€880,376)
Equity and liabilities
- Reserves +€15.0m
up €15.0m (+264.5%), from €5.7m to €20.6m
of which Distributable reserves: +€17.3m
- Profit (loss) carried forward -€9.8m
no longer reported in 2026 (was €9.8m)
- Other debts -€4.4m
down €4.4m (-97.1%), from €4.5m to €130,224
- Short-term financial debts -€337,613
no longer reported in 2026 (was €337,613)
- Advances received +€278,648
up €278,648 (+708.2%), from €39,344 to €317,991
Income statement
- Turnover -€1.9m
down €1.9m (-6.5%), from €29.0m to €27.1m
- Goods and materials -€1.0m
down €1.0m (-6.0%), from €17.4m to €16.3m
of which Purchases: -€839,561
- Taxes -€308,027
down €308,027 (-16.3%), from €1.9m to €1.6m
From the 2025 result to the 2026 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 2025
€6.0m
Turnover
-€1.9m
Other operating income
-€41,414
Goods and materials
+€1.0m
Services and other goods
-€46,013
Staff costs
-€91,676
Depreciation
-€11,343
Write-downs
-€11,103
Provisions
+€4,281
Other operating charges
+€20,989
Other operating items
-€168,242
Financial income
+€8,776
Financial charges
+€24,347
Taxes
+€308,027
Result 2026
€5.1m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.2m
Investment
-€1.5m
Financing
-€337,613
Cash 2025
€746,476
From operations (derived)
+€2.2m
Net result for the year
+€5.1m
Depreciation
+€44,325
Stocks and contracts
-€19,123
Receivables within one year
+€880,376
Smaller working-capital items
-€250
Trade debts
+€207,018
Tax, wage and social debts
+€14,115
Advances received
+€278,648
Other debts
-€4.4m
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€160,742
Current investments
-€1.3m
Financing
-€337,613
Short-term financial debts
-€337,613
Cash 2026
€1.1m
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,332,263 | €25,242,253 | +€909,990 | +3.7% |
| Fixed assets | 21/28 | €3,759,613 | €3,876,030 | +€116,416 | +3.1% |
| Tangible fixed assets | 22/27 | €97,591 | €83,784 | -€13,807 | -14.1% |
| Land and buildings | 22 | €1,871 | €1,481 | -€390 | -20.8% |
| Plant, machinery and equipment | 23 | €81,995 | €67,631 | -€14,364 | -17.5% |
| Furniture and vehicles | 24 | €13,725 | €14,672 | +€947 | +6.9% |
| Financial fixed assets | 28 | €3,662,022 | €3,792,246 | +€130,224 | +3.6% |
| Affiliated companies | 280/1 | €3,661,214 | €3,791,438 | +€130,224 | +3.6% |
| Participating interests | 280 | €3,661,214 | €3,791,438 | +€130,224 | +3.6% |
| Other financial fixed assets | 284/8 | €808 | €808 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €808 | €808 | = | 0.0% |
| Current assets | 29/58 | €20,572,650 | €21,366,223 | +€793,574 | +3.9% |
| Stocks and contracts in progress | 3 | €3,480,905 | €3,500,028 | +€19,123 | +0.5% |
| Stocks | 30/36 | €3,480,905 | €3,500,028 | +€19,123 | +0.5% |
| Goods purchased for resale | 34 | €3,480,905 | €3,500,028 | +€19,123 | +0.5% |
| Amounts receivable within one year | 40/41 | €5,456,368 | €4,575,992 | -€880,376 | -16.1% |
| Trade receivables | 40 | €4,935,390 | €4,570,853 | -€364,537 | -7.4% |
| Other amounts receivable | 41 | €520,978 | €5,139 | -€515,839 | -99.0% |
| Current investments | 50/53 | €10,786,001 | €12,132,190 | +€1.3m | +12.5% |
| Other investments | 51/53 | €10,786,001 | €12,132,190 | +€1.3m | +12.5% |
| Cash at bank and in hand | 54/58 | €746,476 | €1,064,254 | +€317,778 | +42.6% |
| Deferred charges and accrued income | 490/1 | €102,898 | €93,759 | -€9,140 | -8.9% |
| Total equity and liabilities | 10/49 | €24,332,263 | €25,242,253 | +€909,990 | +3.7% |
| Equity | 10/15 | €16,221,860 | €21,348,848 | +€5.1m | +31.6% |
| Contributions | 10/11 | €744,335 | €744,335 | = | 0.0% |
| Capital | 10 | €744,335 | €744,335 | = | 0.0% |
| Issued capital | 100 | €744,335 | €744,335 | = | 0.0% |
| Reserves | 13 | €5,653,497 | €20,604,512 | +€15.0m | +264.5% |
| Non-distributable reserves | 130/1 | €74,434 | €74,434 | = | 0.0% |
| Legal reserve | 130 | €74,434 | €74,434 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,652,085 | €293,004 | -€2.4m | -89.0% |
| Distributable reserves | 133 | €2,926,978 | €20,237,075 | +€17.3m | +591.4% |
| Profit (loss) carried forward | 14 | €9,824,028 | - | -€9.8m | |
| Provisions and deferred taxes | 16 | €48,730 | €35,987 | -€12,742 | -26.1% |
| Provisions for liabilities and charges | 160/5 | €48,730 | €35,987 | -€12,742 | -26.1% |
| Other liabilities and charges | 164/5 | €48,730 | €35,987 | -€12,742 | -26.1% |
| Amounts payable | 17/49 | €8,061,673 | €3,857,418 | -€4.2m | -52.2% |
| Amounts payable after more than one year | 17 | €1,300,000 | €1,300,000 | = | 0.0% |
| Financial debts | 170/4 | €1,300,000 | €1,300,000 | = | 0.0% |
| Other loans | 174 | €1,300,000 | €1,300,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,733,559 | €2,525,951 | -€4.2m | -62.5% |
| Financial debts | 43 | €337,613 | - | -€337,613 | |
| Credit institutions | 430/8 | €337,613 | - | -€337,613 | |
| Trade debts | 44 | €1,239,018 | €1,446,036 | +€207,018 | +16.7% |
| Suppliers | 440/4 | €1,239,018 | €1,446,036 | +€207,018 | +16.7% |
| Advances received on contracts in progress | 46 | €39,344 | €317,991 | +€278,648 | +708.2% |
| Taxes, remuneration and social security | 45 | €617,584 | €631,700 | +€14,115 | +2.3% |
| Taxes | 450/3 | €333,782 | €397,103 | +€63,321 | +19.0% |
| Remuneration and social security | 454/9 | €283,803 | €234,597 | -€49,206 | -17.3% |
| Other amounts payable | 47/48 | €4,500,000 | €130,224 | -€4.4m | -97.1% |
| Accrued charges and deferred income | 492/3 | €28,114 | €31,467 | +€3,353 | +11.9% |
| Operating income | 70/76A | €29,261,116 | €27,174,534 | -€2.1m | -7.1% |
| Turnover | 70 | €28,991,402 | €27,114,726 | -€1.9m | -6.5% |
| Other operating income | 74 | €101,222 | €59,808 | -€41,414 | -40.9% |
| Non-recurring operating income | 76A | €168,492 | - | -€168,492 | |
| Operating charges | 60/66A | €21,992,624 | €21,080,556 | -€912,068 | -4.1% |
| Goods for resale, raw materials and consumables | 60 | €17,391,658 | €16,344,974 | -€1.0m | -6.0% |
| Purchases | 600/8 | €17,203,658 | €16,364,097 | -€839,561 | -4.9% |
| Change in stocks: decrease (increase) | 609 | €188,000 | -€19,123 | -€207,123 | |
| Services and other goods | 61 | €2,791,176 | €2,837,189 | +€46,013 | +1.6% |
| Remuneration, social security and pensions | 62 | €1,750,054 | €1,841,730 | +€91,676 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,982 | €44,325 | +€11,343 | +34.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,370 | €15,473 | +€11,103 | +254.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,462 | -€12,742 | -€4,281 | -50.6% |
| Other operating charges | 640/8 | €30,594 | €9,606 | -€20,989 | -68.6% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Operating profit (loss) | 9901 | €7,268,492 | €6,093,978 | -€1.2m | -16.2% |
| Financial income | 75/76B | €687,909 | €696,685 | +€8,776 | +1.3% |
| Recurring financial income | 75 | €687,909 | €696,685 | +€8,776 | +1.3% |
| Income from financial fixed assets | 750 | €355,055 | €450,069 | +€95,015 | +26.8% |
| Income from current assets | 751 | €301,711 | €216,684 | -€85,027 | -28.2% |
| Other financial income | 752/9 | €31,143 | €29,932 | -€1,211 | -3.9% |
| Financial charges | 65/66B | €104,611 | €80,265 | -€24,347 | -23.3% |
| Recurring financial charges | 65 | €104,611 | €80,265 | -€24,347 | -23.3% |
| Debt charges | 650 | €88,966 | €69,166 | -€19,800 | -22.3% |
| Other financial charges | 652/9 | €15,645 | €11,099 | -€4,546 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €7,851,790 | €6,710,398 | -€1.1m | -14.5% |
| Income taxes | 67/77 | €1,891,438 | €1,583,411 | -€308,027 | -16.3% |
| Taxes | 670/3 | €1,891,438 | €1,583,411 | -€308,027 | -16.3% |
| Profit (loss) for the period | 9904 | €5,960,351 | €5,126,988 | -€833,364 | -14.0% |
| Transfer from tax-exempt reserves | 789 | €807,196 | €2,359,081 | +€1.6m | +192.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,767,547 | €7,486,069 | +€718,522 | +10.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.