IMAGOPACKGROUP: 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
IMAGOPACKGROUP
NACE 46.493, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.2m+€28,755
Equity
€4.8m
2024 · €4.4m+€385,999
Cash
€770,345
2024 · €791,902-€21,558
Balance sheet total
€7.5m
2024 · €7.2m+€270,908
Largest movements
Assets
- Tangible fixed assets +€639,253
up €639,253 (+64.5%), from €991,537 to €1.6m
of which Plant, machinery and equipment: +€510,439
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Stocks and contracts +€188,154
up €188,154 (+7.9%), from €2.4m to €2.6m
Equity and liabilities
- Reserves +€385,999
up €385,999 (+9.5%), from €4.1m to €4.4m
of which Distributable reserves: +€385,999
- Trade debts -€276,414
down €276,414 (-17.4%), from €1.6m to €1.3m
- Tax, wage and social debts +€157,397
up €157,397 (+38.4%), from €409,661 to €567,058
of which Remuneration and social security: +€107,214
Income statement
- Turnover +€2.2m
up €2.2m (+13.2%), from €16.7m to €18.9m
- Goods and materials +€1.5m
up €1.5m (+11.5%), from €12.9m to €14.4m
of which Purchases: +€1.2m
- Staff costs +€348,699
up €348,699 (+31.1%), from €1.1m to €1.5m
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
€1.2m
Turnover
+€2.2m
Other operating income
+€81,785
Goods and materials
-€1.5m
Services and other goods
-€169,631
Staff costs
-€348,699
Depreciation
-€142,325
Write-downs
-€11,918
Other operating charges
-€94,574
Other operating items
+€38,623
Financial income
-€22,492
Financial charges
-€5,320
Taxes
-€16,866
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.3m
Investment
-€481,767
Financing
-€800,000
Cash 2024
€791,902
From operations (derived)
+€1.3m
Net result for the year
+€1.2m
Depreciation
+€350,476
Stocks and contracts
-€188,154
Receivables within one year
+€33,515
Deferred charges and accrued income
-€6,536
Trade debts
-€276,414
Tax, wage and social debts
+€157,397
Other debts
+€3,926
Investment (derived)
-€481,767
Investment in fixed assets (net)
-€981,767
Current investments
+€500,000
Financing
-€800,000
Contributions, distributions and other
-€800,000
Cash 2025
€770,345
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,225,397 | €7,496,305 | +€270,908 | +3.7% |
| Fixed assets | 21/28 | €1,008,011 | €1,639,301 | +€631,290 | +62.6% |
| Intangible fixed assets | 21 | €15,883 | €5,790 | -€10,093 | -63.5% |
| Tangible fixed assets | 22/27 | €991,537 | €1,630,791 | +€639,253 | +64.5% |
| Plant, machinery and equipment | 23 | €531,478 | €1,041,918 | +€510,439 | +96.0% |
| Furniture and vehicles | 24 | €437,946 | €558,700 | +€120,754 | +27.6% |
| Other tangible fixed assets | 26 | €22,113 | €30,173 | +€8,060 | +36.5% |
| Financial fixed assets | 28 | €590 | €2,720 | +€2,130 | +361% |
| Other financial fixed assets | 284/8 | €590 | €2,720 | +€2,130 | +361% |
| Amounts receivable and cash guarantees | 285/8 | €590 | €2,720 | +€2,130 | +361% |
| Current assets | 29/58 | €6,217,387 | €5,857,004 | -€360,383 | -5.8% |
| Stocks and contracts in progress | 3 | €2,379,777 | €2,567,931 | +€188,154 | +7.9% |
| Stocks | 30/36 | €2,379,777 | €2,567,931 | +€188,154 | +7.9% |
| Goods purchased for resale | 34 | €2,379,777 | €2,567,931 | +€188,154 | +7.9% |
| Amounts receivable within one year | 40/41 | €2,523,982 | €2,490,467 | -€33,515 | -1.3% |
| Trade receivables | 40 | €2,508,655 | €2,484,369 | -€24,286 | -1.0% |
| Other amounts receivable | 41 | €15,327 | €6,099 | -€9,229 | -60.2% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Other investments | 51/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €791,902 | €770,345 | -€21,558 | -2.7% |
| Deferred charges and accrued income | 490/1 | €21,725 | €28,261 | +€6,536 | +30.1% |
| Total equity and liabilities | 10/49 | €7,225,397 | €7,496,305 | +€270,908 | +3.7% |
| Equity | 10/15 | €4,424,239 | €4,810,238 | +€385,999 | +8.7% |
| Contributions | 10/11 | €366,850 | €366,850 | = | 0.0% |
| Reserves | 13 | €4,057,389 | €4,443,388 | +€385,999 | +9.5% |
| Tax-exempt reserves | 132 | €49,658 | €49,658 | = | 0.0% |
| Distributable reserves | 133 | €4,007,731 | €4,393,730 | +€385,999 | +9.6% |
| Amounts payable | 17/49 | €2,801,159 | €2,686,068 | -€115,091 | -4.1% |
| Amounts payable within one year | 42/48 | €2,801,159 | €2,686,068 | -€115,091 | -4.1% |
| Trade debts | 44 | €1,591,498 | €1,315,084 | -€276,414 | -17.4% |
| Suppliers | 440/4 | €1,591,498 | €1,315,084 | -€276,414 | -17.4% |
| Taxes, remuneration and social security | 45 | €409,661 | €567,058 | +€157,397 | +38.4% |
| Taxes | 450/3 | €235,401 | €285,584 | +€50,183 | +21.3% |
| Remuneration and social security | 454/9 | €174,260 | €281,475 | +€107,214 | +61.5% |
| Other amounts payable | 47/48 | €800,000 | €803,926 | +€3,926 | +0.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €17,535,852 | €19,859,392 | +€2.3m | +13.3% |
| Turnover | 70 | €16,712,886 | €18,916,125 | +€2.2m | +13.2% |
| Other operating income | 74 | €806,484 | €888,269 | +€81,785 | +10.1% |
| Non-recurring operating income | 76A | €16,482 | €54,999 | +€38,517 | +234% |
| Operating charges | 60/66A | €16,317,804 | €18,567,911 | +€2.3m | +13.8% |
| Goods for resale, raw materials and consumables | 60 | €12,917,831 | €14,400,897 | +€1.5m | +11.5% |
| Purchases | 600/8 | €13,424,995 | €14,589,051 | +€1.2m | +8.7% |
| Change in stocks: decrease (increase) | 609 | -€507,164 | -€188,154 | +€319,010 | +62.9% |
| Services and other goods | 61 | €1,335,299 | €1,504,931 | +€169,631 | +12.7% |
| Remuneration, social security and pensions | 62 | €1,120,792 | €1,469,491 | +€348,699 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,152 | €350,476 | +€142,325 | +68.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,453 | €13,372 | +€11,918 | +820% |
| Other operating charges | 640/8 | €733,171 | €827,744 | +€94,574 | +12.9% |
| Non-recurring operating charges | 66A | €1,106 | €1,000 | -€106 | -9.6% |
| Operating profit (loss) | 9901 | €1,218,048 | €1,291,482 | +€73,433 | +6.0% |
| Financial income | 75/76B | €101,300 | €78,808 | -€22,492 | -22.2% |
| Recurring financial income | 75 | €101,300 | €78,808 | -€22,492 | -22.2% |
| Income from current assets | 751 | €35,137 | €9,916 | -€25,221 | -71.8% |
| Other financial income | 752/9 | €66,163 | €68,892 | +€2,728 | +4.1% |
| Financial charges | 65/66B | €32,603 | €37,923 | +€5,320 | +16.3% |
| Recurring financial charges | 65 | €32,603 | €37,923 | +€5,320 | +16.3% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €32,603 | €37,923 | +€5,320 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €1,286,746 | €1,332,367 | +€45,621 | +3.5% |
| Income taxes | 67/77 | €129,502 | €146,368 | +€16,866 | +13.0% |
| Taxes | 670/3 | €129,578 | €146,386 | +€16,808 | +13.0% |
| Tax adjustments and reversals of tax provisions | 77 | €76 | €18 | -€58 | -75.9% |
| Profit (loss) for the period | 9904 | €1,157,244 | €1,185,999 | +€28,755 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,157,244 | €1,185,999 | +€28,755 | +2.5% |
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 16 October 2026 via checked.be.