JOAKIM 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
JOAKIM PACKAGING
NACE 46.900, Non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€79,617
2024 · €99,629-€20,012
Equity
€1.4m
2024 · €1.3m+€37,224
Cash
€362,284
2024 · €422,557-€60,273
Balance sheet total
€3.3m
2024 · €3.5m-€199,001
Largest movements
Assets
- Tangible fixed assets -€168,940
down €168,940 (-7.2%), from €2.3m to €2.2m
of which Land and buildings: -€168,413
- Cash -€60,273
down €60,273 (-14.3%), from €422,557 to €362,284
mainly Debts after one year (-€193,937) and Investment in fixed assets (net) (-€43,476)
Equity and liabilities
- Debts after one year -€193,937
down €193,937 (-12.7%), from €1.5m to €1.3m
- Reserves +€68,666
up €68,666 (+6.8%), from €1.0m to €1.1m
of which Distributable reserves: +€91,753
Income statement
- Financial income -€31,140
down €31,140 (-31.3%), from €99,518 to €68,377
- Gross operating margin +€13,809
up €13,809 (+3.6%), from €378,920 to €392,729
- Financial charges -€5,515
down €5,515 (-8.5%), from €65,215 to €59,700
- Other operating charges +€4,663
up €4,663 (+14.7%), from €31,793 to €36,456
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
€99,629
Gross operating margin
+€13,809
Staff costs
-€2,030
Depreciation
-€3,302
Other operating charges
-€4,663
Other operating items
-€786
Financial income
-€31,140
Financial charges
+€5,515
Taxes
+€3,245
Deferred taxes and other
-€660
Result 2025
€79,617
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
+€209,950
Investment
-€43,476
Financing
-€226,748
Cash 2024
€422,557
From operations (derived)
+€209,950
Net result for the year
+€79,617
Depreciation
+€183,706
Stocks and contracts
-€7,672
Receivables within one year
+€5,354
Deferred charges and accrued income
+€816
Provisions
-€7,696
Trade debts
-€11,641
Tax, wage and social debts
-€8,026
Other debts
-€19,387
Accrued charges and deferred income
-€5,120
Investment (derived)
-€43,476
Investment in fixed assets (net)
-€43,476
Financing
-€226,748
Debts after one year
-€193,937
Current portion of long-term debt
+€9,583
Contributions, distributions and other
-€42,394
Cash 2025
€362,284
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,483,965 | €3,284,964 | -€199,001 | -5.7% |
| Fixed assets | 21/28 | €2,782,003 | €2,641,773 | -€140,230 | -5.0% |
| Intangible fixed assets | 21 | - | €28,710 | +€28,710 | |
| Tangible fixed assets | 22/27 | €2,346,879 | €2,177,939 | -€168,940 | -7.2% |
| Land and buildings | 22 | €2,346,353 | €2,177,939 | -€168,413 | -7.2% |
| Furniture and vehicles | 24 | €527 | - | -€527 | |
| Financial fixed assets | 28 | €435,124 | €435,124 | = | 0.0% |
| Current assets | 29/58 | €701,962 | €643,192 | -€58,771 | -8.4% |
| Stocks and contracts in progress | 3 | €107,829 | €115,501 | +€7,672 | +7.1% |
| Stocks | 30/36 | €107,829 | €115,501 | +€7,672 | +7.1% |
| Amounts receivable within one year | 40/41 | €170,760 | €165,407 | -€5,354 | -3.1% |
| Trade receivables | 40 | €105,369 | €66,721 | -€38,647 | -36.7% |
| Other amounts receivable | 41 | €65,392 | €98,685 | +€33,294 | +50.9% |
| Cash at bank and in hand | 54/58 | €422,557 | €362,284 | -€60,273 | -14.3% |
| Deferred charges and accrued income | 490/1 | €816 | - | -€816 | |
| Total equity and liabilities | 10/49 | €3,483,965 | €3,284,964 | -€199,001 | -5.7% |
| Equity | 10/15 | €1,322,624 | €1,359,847 | +€37,224 | +2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,010,802 | €1,079,467 | +€68,666 | +6.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €403,433 | €380,345 | -€23,087 | -5.7% |
| Distributable reserves | 133 | €605,510 | €697,263 | +€91,753 | +15.2% |
| Investment grants | 15 | €293,230 | €261,788 | -€31,442 | -10.7% |
| Provisions and deferred taxes | 16 | €134,478 | €126,782 | -€7,696 | -5.7% |
| Deferred taxes | 168 | €134,478 | €126,782 | -€7,696 | -5.7% |
| Amounts payable | 17/49 | €2,026,864 | €1,798,335 | -€228,529 | -11.3% |
| Amounts payable after more than one year | 17 | €1,523,077 | €1,329,141 | -€193,937 | -12.7% |
| Financial debts | 170/4 | €1,523,077 | €1,329,141 | -€193,937 | -12.7% |
| Amounts payable within one year | 42/48 | €487,764 | €458,292 | -€29,472 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €187,574 | €197,157 | +€9,583 | +5.1% |
| Trade debts | 44 | €188,963 | €177,321 | -€11,641 | -6.2% |
| Suppliers | 440/4 | €188,963 | €177,321 | -€11,641 | -6.2% |
| Taxes, remuneration and social security | 45 | €77,513 | €69,487 | -€8,026 | -10.4% |
| Taxes | 450/3 | €77,513 | €69,487 | -€8,026 | -10.4% |
| Other amounts payable | 47/48 | €33,714 | €14,327 | -€19,387 | -57.5% |
| Accrued charges and deferred income | 492/3 | €16,023 | €10,903 | -€5,120 | -32.0% |
| Non-recurring operating income | 76A | €10 | - | -€10 | |
| Remuneration, social security and pensions | 62 | €69,099 | €71,129 | +€2,030 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,404 | €183,706 | +€3,302 | +1.8% |
| Other operating charges | 640/8 | €31,793 | €36,456 | +€4,663 | +14.7% |
| Non-recurring operating charges | 66A | €1,260 | €2,046 | +€786 | +62.4% |
| Gross operating margin | 9900 | €378,920 | €392,729 | +€13,809 | +3.6% |
| Operating profit (loss) | 9901 | €96,364 | €99,392 | +€3,028 | +3.1% |
| Financial income | 75/76B | €99,518 | €68,377 | -€31,140 | -31.3% |
| Recurring financial income | 75 | €99,518 | €68,377 | -€31,140 | -31.3% |
| Financial charges | 65/66B | €65,215 | €59,700 | -€5,515 | -8.5% |
| Recurring financial charges | 65 | €65,215 | €59,700 | -€5,515 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €130,667 | €108,070 | -€22,597 | -17.3% |
| Transfer from deferred taxes | 780 | €8,356 | €7,696 | -€660 | -7.9% |
| Income taxes | 67/77 | €39,393 | €36,148 | -€3,245 | -8.2% |
| Profit (loss) for the period | 9904 | €99,629 | €79,617 | -€20,012 | -20.1% |
| Transfer from tax-exempt reserves | 789 | €25,067 | €23,087 | -€1,979 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €124,696 | €102,704 | -€21,991 | -17.6% |
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.