GO-PACK: 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.
GO-PACK
Largest movements
- Receivables within one year +€124,563
up €124,563 (+116%), from €107,404 to €231,968
of which Trade receivables: +€120,934
- Cash -€80,307
down €80,307 (-42.3%), from €189,812 to €109,505
mainly Receivables within one year (-€124,563) and Stocks and contracts (-€34,487)
- Stocks and contracts +€34,487
new in 2025: €34,487
- Deferred charges and accrued income +€17,257
new in 2025: €17,257
- Tangible fixed assets -€10,530
down €10,530 (-71.1%), from €14,802 to €4,273
of which Furniture and vehicles: -€5,444
- Trade debts +€86,217
up €86,217 (+6,477%), from €1,331 to €87,549
- Other debts -€19,564
down €19,564 (-33.2%), from €58,936 to €39,372
- Tax, wage and social debts +€16,807
up €16,807 (+8.9%), from €189,171 to €205,978
of which Taxes: +€17,131
- Reserves +€5,058
up €5,058 (+17.7%), from €28,621 to €33,679
of which Distributable reserves: +€5,058
- Staff costs +€38,836
up €38,836 (+10.8%), from €357,954 to €396,790
- Taxes -€8,787
down €8,787 (-78.8%), from €11,153 to €2,366
- Gross operating margin +€5,509
up €5,509 (+1.3%), from €412,229 to €417,739
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.
Derived cash bridge
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 | €312,093 | €397,564 | +€85,471 | +27.4% |
| Fixed assets | 21/28 | €14,877 | €4,348 | -€10,530 | -70.8% |
| Tangible fixed assets | 22/27 | €14,802 | €4,273 | -€10,530 | -71.1% |
| Plant, machinery and equipment | 23 | €9,358 | €4,273 | -€5,085 | -54.3% |
| Furniture and vehicles | 24 | €5,444 | €0 | -€5,444 | -100% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €297,216 | €393,217 | +€96,001 | +32.3% |
| Stocks and contracts in progress | 3 | - | €34,487 | +€34,487 | |
| Stocks | 30/36 | - | €34,487 | +€34,487 | |
| Amounts receivable within one year | 40/41 | €107,404 | €231,968 | +€124,563 | +116% |
| Trade receivables | 40 | €107,400 | €228,334 | +€120,934 | +113% |
| Other amounts receivable | 41 | €4 | €3,634 | +€3,629 | +81,743% |
| Cash at bank and in hand | 54/58 | €189,812 | €109,505 | -€80,307 | -42.3% |
| Deferred charges and accrued income | 490/1 | - | €17,257 | +€17,257 | |
| Total equity and liabilities | 10/49 | €312,093 | €397,564 | +€85,471 | +27.4% |
| Equity | 10/15 | €47,221 | €52,279 | +€5,058 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,621 | €33,679 | +€5,058 | +17.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,761 | €31,819 | +€5,058 | +18.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €264,872 | €345,286 | +€80,413 | +30.4% |
| Amounts payable after more than one year | 17 | €10,000 | €10,000 | = | 0.0% |
| Financial debts | 170/4 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €249,438 | €332,899 | +€83,461 | +33.5% |
| Trade debts | 44 | €1,331 | €87,549 | +€86,217 | +6,477% |
| Suppliers | 440/4 | €1,331 | €87,549 | +€86,217 | +6,477% |
| Taxes, remuneration and social security | 45 | €189,171 | €205,978 | +€16,807 | +8.9% |
| Taxes | 450/3 | €184,577 | €201,707 | +€17,131 | +9.3% |
| Remuneration and social security | 454/9 | €4,594 | €4,271 | -€323 | -7.0% |
| Other amounts payable | 47/48 | €58,936 | €39,372 | -€19,564 | -33.2% |
| Accrued charges and deferred income | 492/3 | €5,435 | €2,387 | -€3,048 | -56.1% |
| Non-recurring operating income | 76A | €7,787 | €0 | -€7,787 | -100% |
| Remuneration, social security and pensions | 62 | €357,954 | €396,790 | +€38,836 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,666 | €10,530 | -€1,137 | -9.7% |
| Other operating charges | 640/8 | €2,547 | €941 | -€1,607 | -63.1% |
| Gross operating margin | 9900 | €412,229 | €417,739 | +€5,509 | +1.3% |
| Operating profit (loss) | 9901 | €40,062 | €9,479 | -€30,583 | -76.3% |
| Financial income | 75/76B | €1,034 | €387 | -€646 | -62.5% |
| Recurring financial income | 75 | €1,034 | €387 | -€646 | -62.5% |
| Financial charges | 65/66B | €1,590 | €2,442 | +€853 | +53.6% |
| Recurring financial charges | 65 | €1,590 | €2,442 | +€853 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €39,506 | €7,424 | -€32,082 | -81.2% |
| Income taxes | 67/77 | €11,153 | €2,366 | -€8,787 | -78.8% |
| Profit (loss) for the period | 9904 | €28,353 | €5,058 | -€23,295 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,353 | €5,058 | -€23,295 | -82.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.