INDUSTRIAL PACKAGING MATERIALS: 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.
INDUSTRIAL PACKAGING MATERIALS
Largest movements
- Stocks and contracts +€120,522
up €120,522 (+14.0%), from €859,003 to €979,525
- Cash +€34,711
up €34,711 (+25.8%), from €134,442 to €169,153
mainly Net result for the year (+€192,320) and Other debts (+€50,000)
- Reserves +€117,320
up €117,320 (+13.7%), from €855,220 to €972,540
- Other debts +€50,000
up €50,000 (+200%), from €25,000 to €75,000
- Debts after one year -€24,831
down €24,831 (-36.1%), from €68,816 to €43,985
- Trade debts +€16,764
up €16,764 (+41.4%), from €40,525 to €57,289
- Staff costs -€87,310
down €87,310 (-69.6%), from €125,380 to €38,069
- Taxes +€19,639
up €19,639 (+43.5%), from €45,185 to €64,824
- Write-downs +€10,846
up €10,846 (+1,569%), from €691 to €11,537
- Financial income +€4,032
up €4,032 (+33.0%), from €12,201 to €16,233
- Gross operating margin +€3,465
up €3,465 (+1.1%), from €306,399 to €309,863
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 | €1,184,124 | €1,330,253 | +€146,129 | +12.3% |
| Fixed assets | 21/28 | €15,299 | €9,252 | -€6,047 | -39.5% |
| Tangible fixed assets | 22/27 | €15,299 | €9,252 | -€6,047 | -39.5% |
| Plant, machinery and equipment | 23 | €2,167 | €5,828 | +€3,661 | +169% |
| Furniture and vehicles | 24 | €13,132 | €3,424 | -€9,708 | -73.9% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Current assets | 29/58 | €1,168,825 | €1,321,001 | +€152,176 | +13.0% |
| Stocks and contracts in progress | 3 | €859,003 | €979,525 | +€120,522 | +14.0% |
| Stocks | 30/36 | €859,003 | €979,525 | +€120,522 | +14.0% |
| Amounts receivable within one year | 40/41 | €152,061 | €149,689 | -€2,372 | -1.6% |
| Trade receivables | 40 | €147,004 | €142,760 | -€4,243 | -2.9% |
| Other amounts receivable | 41 | €5,058 | €6,929 | +€1,871 | +37.0% |
| Cash at bank and in hand | 54/58 | €134,442 | €169,153 | +€34,711 | +25.8% |
| Deferred charges and accrued income | 490/1 | €23,319 | €22,634 | -€685 | -2.9% |
| Total equity and liabilities | 10/49 | €1,184,124 | €1,330,253 | +€146,129 | +12.3% |
| Equity | 10/15 | €1,005,229 | €1,122,549 | +€117,320 | +11.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €855,220 | €972,540 | +€117,320 | +13.7% |
| Distributable reserves | 133 | €855,220 | €972,540 | +€117,320 | +13.7% |
| Profit (loss) carried forward | 14 | €9 | €9 | -€0 | -2.9% |
| Amounts payable | 17/49 | €178,895 | €207,705 | +€28,810 | +16.1% |
| Amounts payable after more than one year | 17 | €68,816 | €43,985 | -€24,831 | -36.1% |
| Financial debts | 170/4 | €68,816 | €43,985 | -€24,831 | -36.1% |
| Amounts payable within one year | 42/48 | €110,079 | €163,720 | +€53,641 | +48.7% |
| Current portion of amounts payable after more than one year | 42 | €26,350 | €24,831 | -€1,518 | -5.8% |
| Financial debts | 43 | €9,275 | - | -€9,275 | |
| Credit institutions | 430/8 | €9,275 | - | -€9,275 | |
| Trade debts | 44 | €40,525 | €57,289 | +€16,764 | +41.4% |
| Suppliers | 440/4 | €40,525 | €57,289 | +€16,764 | +41.4% |
| Taxes, remuneration and social security | 45 | €8,929 | €6,599 | -€2,329 | -26.1% |
| Taxes | 450/3 | €4,008 | €5,306 | +€1,299 | +32.4% |
| Remuneration and social security | 454/9 | €4,921 | €1,293 | -€3,628 | -73.7% |
| Other amounts payable | 47/48 | €25,000 | €75,000 | +€50,000 | +200% |
| Remuneration, social security and pensions | 62 | €125,380 | €38,069 | -€87,310 | -69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,484 | €10,262 | -€222 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €691 | €11,537 | +€10,846 | +1,569% |
| Other operating charges | 640/8 | €6,959 | €5,361 | -€1,597 | -23.0% |
| Gross operating margin | 9900 | €306,399 | €309,863 | +€3,465 | +1.1% |
| Operating profit (loss) | 9901 | €162,885 | €244,633 | +€81,748 | +50.2% |
| Financial income | 75/76B | €12,201 | €16,233 | +€4,032 | +33.0% |
| Recurring financial income | 75 | €12,201 | €16,233 | +€4,032 | +33.0% |
| Financial charges | 65/66B | €5,827 | €3,722 | -€2,105 | -36.1% |
| Recurring financial charges | 65 | €5,827 | €3,722 | -€2,105 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €169,259 | €257,144 | +€87,885 | +51.9% |
| Income taxes | 67/77 | €45,185 | €64,824 | +€19,639 | +43.5% |
| Profit (loss) for the period | 9904 | €124,074 | €192,320 | +€68,246 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,074 | €192,320 | +€68,246 | +55.0% |
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.