J&S 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
J&S packaging
NACE 46.493, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€479,235
2024 · €194,146-€673,381
Equity
€2.5m
2024 · €3.0m-€479,235
Cash
€38,414
2024 · €489,223-€450,809
Balance sheet total
€8.6m
2024 · €7.9m+€731,715
Largest movements
Assets
- Intangible fixed assets +€733,333
new in 2025: €733,333
- Cash -€450,809
down €450,809 (-92.1%), from €489,223 to €38,414
mainly Investment in fixed assets (net) (-€1.1m) and Other debts (-€561,000)
- Stocks and contracts +€343,900
up €343,900 (+9.0%), from €3.8m to €4.2m
- Tangible fixed assets +€92,259
up €92,259 (+12.7%), from €725,408 to €817,667
of which Plant, machinery and equipment: +€129,376
Equity and liabilities
- Short-term financial debts +€569,114
up €569,114 (+94.9%), from €600,000 to €1.2m
- Trade debts +€563,419
up €563,419 (+25.1%), from €2.2m to €2.8m
- Other debts -€561,000
down €561,000 (-38.7%), from €1.5m to €890,188
- Profit (loss) carried forward -€479,235
down €479,235, from €224,827 to -€254,408
- Debts after one year +€458,586
up €458,586 (+188%), from €243,373 to €701,959
Income statement
- Turnover -€1.1m
down €1.1m (-5.5%), from €19.9m to €18.8m
- Goods and materials -€842,014
down €842,014 (-5.1%), from €16.4m to €15.6m
of which Change in stocks: decrease (increase): -€572,429
- Staff costs +€386,647
up €386,647 (+53.3%), from €725,384 to €1.1m
- Write-downs -€222,938
down €222,938 (-9,482%), from -€2,351 to -€225,289
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
€194,146
Turnover
-€1.1m
Other operating income
-€91,733
Goods and materials
+€842,014
Services and other goods
-€185,079
Staff costs
-€386,647
Depreciation
+€1,570
Write-downs
+€222,938
Other operating charges
-€100,300
Financial income
+€2,396
Financial charges
-€10,370
Taxes
+€123,404
Result 2025
-€479,235
raises the resultlowers the result
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
-€565,222
Investment
-€1.1m
Financing
+€1.2m
Cash 2024
€489,223
From operations (derived)
-€565,222
Net result for the year
-€479,235
Depreciation
+€238,065
Stocks and contracts
-€343,900
Receivables within one year
-€3,749
Deferred charges and accrued income
-€9,283
Trade debts
+€563,419
Tax, wage and social debts
+€30,462
Other debts
-€561,000
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€1.2m
Debts after one year
+€458,586
Current portion of long-term debt
+€150,369
Short-term financial debts
+€569,114
Cash 2025
€38,414
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,897,225 | €8,628,940 | +€731,715 | +9.3% |
| Fixed assets | 21/28 | €725,575 | €1,551,168 | +€825,592 | +114% |
| Intangible fixed assets | 21 | - | €733,333 | +€733,333 | |
| Tangible fixed assets | 22/27 | €725,408 | €817,667 | +€92,259 | +12.7% |
| Land and buildings | 22 | €548,053 | €540,140 | -€7,913 | -1.4% |
| Plant, machinery and equipment | 23 | €91,208 | €220,584 | +€129,376 | +142% |
| Furniture and vehicles | 24 | €32,969 | €40,952 | +€7,983 | +24.2% |
| Leasing and similar rights | 25 | €53,177 | €15,991 | -€37,187 | -69.9% |
| Financial fixed assets | 28 | €168 | €168 | = | 0.0% |
| Affiliated companies | 280/1 | €1 | €1 | = | 0.0% |
| Participating interests | 280 | €1 | €1 | = | 0.0% |
| Other financial fixed assets | 284/8 | €167 | €167 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €167 | €167 | = | 0.0% |
| Current assets | 29/58 | €7,171,650 | €7,077,773 | -€93,877 | -1.3% |
| Stocks and contracts in progress | 3 | €3,806,467 | €4,150,367 | +€343,900 | +9.0% |
| Stocks | 30/36 | €3,806,467 | €4,150,367 | +€343,900 | +9.0% |
| Goods purchased for resale | 34 | €3,806,467 | €4,150,367 | +€343,900 | +9.0% |
| Amounts receivable within one year | 40/41 | €2,801,786 | €2,805,535 | +€3,749 | +0.1% |
| Trade receivables | 40 | €2,744,308 | €2,639,630 | -€104,678 | -3.8% |
| Other amounts receivable | 41 | €57,478 | €165,905 | +€108,427 | +189% |
| Current investments | 50/53 | €21,000 | €21,000 | = | 0.0% |
| Own shares | 50 | €21,000 | €21,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €489,223 | €38,414 | -€450,809 | -92.1% |
| Deferred charges and accrued income | 490/1 | €53,174 | €62,457 | +€9,283 | +17.5% |
| Total equity and liabilities | 10/49 | €7,897,225 | €8,628,940 | +€731,715 | +9.3% |
| Equity | 10/15 | €3,027,497 | €2,548,263 | -€479,235 | -15.8% |
| Contributions | 10/11 | €572,000 | €572,000 | = | 0.0% |
| Capital | 10 | €572,000 | €572,000 | = | 0.0% |
| Issued capital | 100 | €572,000 | €572,000 | = | 0.0% |
| Reserves | 13 | €2,230,670 | €2,230,670 | = | 0.0% |
| Non-distributable reserves | 130/1 | €193,170 | €193,170 | = | 0.0% |
| Legal reserve | 130 | €172,170 | €172,170 | = | 0.0% |
| Own shares acquired | 1312 | €21,000 | €21,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €224,827 | -€254,408 | -€479,235 | |
| Amounts payable | 17/49 | €4,869,728 | €6,080,678 | +€1.2m | +24.9% |
| Amounts payable after more than one year | 17 | €243,373 | €701,959 | +€458,586 | +188% |
| Financial debts | 170/4 | €243,373 | €701,959 | +€458,586 | +188% |
| Leasing and similar obligations | 172 | €16,060 | €0 | -€16,060 | -100% |
| Credit institutions | 173 | €227,313 | €701,959 | +€474,646 | +209% |
| Amounts payable within one year | 42/48 | €4,626,354 | €5,378,718 | +€752,364 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €165,691 | €316,060 | +€150,369 | +90.8% |
| Financial debts | 43 | €600,000 | €1,169,114 | +€569,114 | +94.9% |
| Credit institutions | 430/8 | €600,000 | €1,169,114 | +€569,114 | +94.9% |
| Trade debts | 44 | €2,248,501 | €2,811,920 | +€563,419 | +25.1% |
| Suppliers | 440/4 | €2,248,501 | €2,811,920 | +€563,419 | +25.1% |
| Taxes, remuneration and social security | 45 | €160,975 | €191,437 | +€30,462 | +18.9% |
| Taxes | 450/3 | €123,683 | €60,571 | -€63,112 | -51.0% |
| Remuneration and social security | 454/9 | €37,292 | €130,866 | +€93,574 | +251% |
| Other amounts payable | 47/48 | €1,451,188 | €890,188 | -€561,000 | -38.7% |
| Operating income | 70/76A | €20,119,920 | €18,936,614 | -€1.2m | -5.9% |
| Turnover | 70 | €19,878,041 | €18,786,468 | -€1.1m | -5.5% |
| Other operating income | 74 | €241,879 | €150,146 | -€91,733 | -37.9% |
| Operating charges | 60/66A | €19,715,990 | €19,321,495 | -€394,494 | -2.0% |
| Goods for resale, raw materials and consumables | 60 | €16,404,278 | €15,562,264 | -€842,014 | -5.1% |
| Purchases | 600/8 | €16,062,633 | €15,793,048 | -€269,585 | -1.7% |
| Change in stocks: decrease (increase) | 609 | €341,645 | -€230,784 | -€572,429 | |
| Services and other goods | 61 | €2,273,434 | €2,458,513 | +€185,079 | +8.1% |
| Remuneration, social security and pensions | 62 | €725,384 | €1,112,031 | +€386,647 | +53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €239,634 | €238,065 | -€1,570 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,351 | -€225,289 | -€222,938 | -9,482% |
| Other operating charges | 640/8 | €75,611 | €175,911 | +€100,300 | +133% |
| Operating profit (loss) | 9901 | €403,930 | -€384,881 | -€788,811 | |
| Financial income | 75/76B | €17,203 | €19,599 | +€2,396 | +13.9% |
| Recurring financial income | 75 | €17,203 | €19,599 | +€2,396 | +13.9% |
| Income from current assets | 751 | €0 | €2 | +€2 | |
| Other financial income | 752/9 | €17,203 | €19,598 | +€2,395 | +13.9% |
| Financial charges | 65/66B | €95,459 | €105,828 | +€10,370 | +10.9% |
| Recurring financial charges | 65 | €95,459 | €105,828 | +€10,370 | +10.9% |
| Debt charges | 650 | €43,853 | €66,653 | +€22,800 | +52.0% |
| Other financial charges | 652/9 | €51,605 | €39,175 | -€12,430 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €325,674 | -€471,110 | -€796,784 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €131,528 | €8,125 | -€123,404 | -93.8% |
| Taxes | 670/3 | €131,528 | €8,125 | -€123,404 | -93.8% |
| Profit (loss) for the period | 9904 | €194,146 | -€479,235 | -€673,381 | |
| Profit (loss) for the period to be appropriated | 9905 | €194,146 | -€479,235 | -€673,381 |
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.