Meelpack: 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.
Meelpack
Largest movements
- Cash -€514,449
down €514,449 (-82.9%), from €620,466 to €106,017
mainly Investment in fixed assets (net) (-€630,553) and Net result for the year (-€100,390)
- Tangible fixed assets +€487,858
up €487,858 (+180%), from €271,637 to €759,495
of which Plant, machinery and equipment: +€494,049
- Receivables within one year +€43,689
up €43,689 (+3.1%), from €1.4m to €1.4m
of which Other amounts receivable: +€28,750
- Debts after one year +€114,612
up €114,612 (+60.5%), from €189,300 to €303,912
- Profit (loss) carried forward -€100,402
down €100,402 (-7.3%), from €1.4m to €1.3m
- Provisions +€61,862
new in 2025: €61,862
- Tax, wage and social debts -€29,047
down €29,047 (-45.6%), from €63,685 to €34,638
of which Taxes: -€26,280
- Purchases and services +€384,506
up €384,506 (+16.7%), from €2.3m to €2.7m
- Gross operating margin -€257,740
down €257,740 (-22.8%), from €1.1m to €873,680
- Write-downs +€131,555
new in 2025: €131,555
- Turnover +€126,766
up €126,766 (+3.7%), from €3.4m to €3.6m
- Depreciation +€73,246
up €73,246 (+106%), from €68,948 to €142,194
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 | €2,287,444 | €2,306,593 | +€19,149 | +0.8% |
| Fixed assets | 21/28 | €271,737 | €760,095 | +€488,358 | +180% |
| Tangible fixed assets | 22/27 | €271,637 | €759,495 | +€487,858 | +180% |
| Plant, machinery and equipment | 23 | €248,767 | €742,817 | +€494,049 | +199% |
| Furniture and vehicles | 24 | €21,927 | €15,736 | -€6,191 | -28.2% |
| Leasing and similar rights | 25 | €943 | €943 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €600 | +€500 | +500% |
| Current assets | 29/58 | €2,015,707 | €1,546,497 | -€469,210 | -23.3% |
| Stocks and contracts in progress | 3 | €4,983 | €6,534 | +€1,550 | +31.1% |
| Stocks | 30/36 | €4,983 | €6,534 | +€1,550 | +31.1% |
| Amounts receivable within one year | 40/41 | €1,390,258 | €1,433,947 | +€43,689 | +3.1% |
| Trade receivables | 40 | €1,130,082 | €1,145,022 | +€14,940 | +1.3% |
| Other amounts receivable | 41 | €260,176 | €288,925 | +€28,750 | +11.1% |
| Cash at bank and in hand | 54/58 | €620,466 | €106,017 | -€514,449 | -82.9% |
| Total equity and liabilities | 10/49 | €2,287,444 | €2,306,593 | +€19,149 | +0.8% |
| Equity | 10/15 | €1,578,384 | €1,477,982 | -€100,402 | -6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €201,860 | €201,860 | = | 0.0% |
| 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 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,370,324 | €1,269,922 | -€100,402 | -7.3% |
| Provisions and deferred taxes | 16 | - | €61,862 | +€61,862 | |
| Provisions for liabilities and charges | 160/5 | - | €61,862 | +€61,862 | |
| Pensions and similar obligations | 160 | - | €61,862 | +€61,862 | |
| Amounts payable | 17/49 | €709,060 | €766,749 | +€57,689 | +8.1% |
| Amounts payable after more than one year | 17 | €189,300 | €303,912 | +€114,612 | +60.5% |
| Financial debts | 170/4 | €189,300 | €303,912 | +€114,612 | +60.5% |
| Amounts payable within one year | 42/48 | €519,761 | €462,837 | -€56,923 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €92,794 | €71,727 | -€21,067 | -22.7% |
| Trade debts | 44 | €349,170 | €346,472 | -€2,699 | -0.8% |
| Suppliers | 440/4 | €349,170 | €346,472 | -€2,699 | -0.8% |
| Taxes, remuneration and social security | 45 | €63,685 | €34,638 | -€29,047 | -45.6% |
| Taxes | 450/3 | €26,280 | - | -€26,280 | |
| Remuneration and social security | 454/9 | €37,406 | €34,638 | -€2,767 | -7.4% |
| Other amounts payable | 47/48 | €14,110 | €10,000 | -€4,110 | -29.1% |
| Turnover | 70 | €3,429,663 | €3,556,429 | +€126,766 | +3.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,298,243 | €2,682,749 | +€384,506 | +16.7% |
| Remuneration, social security and pensions | 62 | €341,929 | €332,843 | -€9,086 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,948 | €142,194 | +€73,246 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €131,555 | +€131,555 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €61,862 | +€61,862 | |
| Other operating charges | 640/8 | €13,139 | €29,034 | +€15,895 | +121% |
| Gross operating margin | 9900 | €1,131,420 | €873,680 | -€257,740 | -22.8% |
| Operating profit (loss) | 9901 | €707,404 | €176,192 | -€531,212 | -75.1% |
| Financial income | 75/76B | €6,329 | €3,460 | -€2,869 | -45.3% |
| Recurring financial income | 75 | €6,329 | €3,460 | -€2,869 | -45.3% |
| Financial charges | 65/66B | €58,989 | €96,563 | +€37,574 | +63.7% |
| Recurring financial charges | 65 | €5,045 | €18,091 | +€13,046 | +259% |
| Non-recurring financial charges | 66B | €53,944 | €78,472 | +€24,528 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €654,743 | €83,089 | -€571,655 | -87.3% |
| Income taxes | 67/77 | €118,976 | €183,478 | +€64,502 | +54.2% |
| Profit (loss) for the period | 9904 | €535,767 | -€100,390 | -€636,157 | |
| Profit (loss) for the period to be appropriated | 9905 | €535,767 | -€100,390 | -€636,157 |
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 25 October 2026 via checked.be.