Nefab Packaging Belgium: what changed
What changed
Nefab Packaging Belgium
NACE 16.240, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €1.0m+€597,925
Equity
€6.3m
2024 · €6.1m+€242,449
Cash
€4,992
2024 · €40,483-€35,491
Balance sheet total
€9.4m
2024 · €8.9m+€416,644
Largest movements
Assets
- Receivables within one year +€488,625
up €488,625 (+9.4%), from €5.2m to €5.7m
of which Other amounts receivable: +€349,979
- Tangible fixed assets -€195,931
down €195,931 (-8.9%), from €2.2m to €2.0m
of which Plant, machinery and equipment: -€168,771
- Stocks and contracts +€152,990
up €152,990 (+10.6%), from €1.4m to €1.6m
Equity and liabilities
- Tax, wage and social debts +€184,557
up €184,557 (+31.2%), from €591,339 to €775,895
of which Taxes: +€133,232
- Profit (loss) carried forward +€137,199
up €137,199 (+3.0%), from €4.5m to €4.7m
- Reserves +€105,250
up €105,250 (+9.1%), from €1.2m to €1.3m
of which Tax-exempt reserves: +€105,250
- Current portion of long-term debt -€93,750
no longer reported in 2025 (was €93,750)
Income statement
- Turnover +€1.5m
up €1.5m (+7.4%), from €20.5m to €22.1m
- Staff costs +€391,973
up €391,973 (+16.5%), from €2.4m to €2.8m
- Services and other goods +€354,857
up €354,857 (+10.6%), from €3.3m to €3.7m
- Other operating income +€305,998
up €305,998 (+212%), from €144,582 to €450,580
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.0m
Turnover
+€1.5m
Other operating income
+€305,998
Goods and materials
-€186,761
Services and other goods
-€354,857
Staff costs
-€391,973
Depreciation
-€51,263
Write-downs
-€21,496
Provisions
+€27
Other operating charges
-€5,185
Other operating items
+€3,546
Financial income
-€54,043
Financial charges
+€8,419
Taxes
-€172,268
Result 2025
€1.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.9m
Investment
-€422,500
Financing
-€1.5m
Cash 2024
€40,483
From operations (derived)
+€1.9m
Net result for the year
+€1.6m
Depreciation
+€618,431
Stocks and contracts
-€152,990
Receivables within one year
-€488,625
Deferred charges and accrued income
-€6,451
Trade debts
+€83,388
Tax, wage and social debts
+€184,557
Investment (derived)
-€422,500
Investment in fixed assets (net)
-€422,500
Financing
-€1.5m
Current portion of long-term debt
-€93,750
Contributions, distributions and other
-€1.4m
Cash 2025
€4,992
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,939,584 | €9,356,228 | +€416,644 | +4.7% |
| Fixed assets | 21/28 | €2,225,913 | €2,029,982 | -€195,931 | -8.8% |
| Tangible fixed assets | 22/27 | €2,200,257 | €2,004,326 | -€195,931 | -8.9% |
| Plant, machinery and equipment | 23 | €2,139,922 | €1,971,152 | -€168,771 | -7.9% |
| Furniture and vehicles | 24 | €60,335 | €33,175 | -€27,160 | -45.0% |
| Financial fixed assets | 28 | €25,656 | €25,656 | = | 0.0% |
| Other financial fixed assets | 284/8 | €25,656 | €25,656 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €25,656 | €25,656 | = | 0.0% |
| Current assets | 29/58 | €6,713,671 | €7,326,246 | +€612,575 | +9.1% |
| Stocks and contracts in progress | 3 | €1,446,051 | €1,599,042 | +€152,990 | +10.6% |
| Stocks | 30/36 | €1,446,051 | €1,599,042 | +€152,990 | +10.6% |
| Raw materials and consumables | 30/31 | €179,237 | €328,959 | +€149,722 | +83.5% |
| Work in progress | 32 | €8,064 | - | -€8,064 | |
| Goods purchased for resale | 34 | €1,258,750 | €1,270,083 | +€11,333 | +0.9% |
| Amounts receivable within one year | 40/41 | €5,213,430 | €5,702,055 | +€488,625 | +9.4% |
| Trade receivables | 40 | €4,365,483 | €4,504,129 | +€138,646 | +3.2% |
| Other amounts receivable | 41 | €847,947 | €1,197,926 | +€349,979 | +41.3% |
| Cash at bank and in hand | 54/58 | €40,483 | €4,992 | -€35,491 | -87.7% |
| Deferred charges and accrued income | 490/1 | €13,706 | €20,157 | +€6,451 | +47.1% |
| Total equity and liabilities | 10/49 | €8,939,584 | €9,356,228 | +€416,644 | +4.7% |
| Equity | 10/15 | €6,090,252 | €6,332,701 | +€242,449 | +4.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €1,162,238 | €1,267,488 | +€105,250 | +9.1% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Distributable reserves | 133 | €1,122,238 | €1,122,238 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,528,014 | €4,665,213 | +€137,199 | +3.0% |
| Provisions and deferred taxes | 16 | €3,725 | €3,725 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,725 | €3,725 | = | 0.0% |
| Pensions and similar obligations | 160 | €3,725 | €3,725 | = | 0.0% |
| Amounts payable | 17/49 | €2,845,607 | €3,019,802 | +€174,195 | +6.1% |
| Amounts payable within one year | 42/48 | €2,845,607 | €3,019,802 | +€174,195 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €93,750 | - | -€93,750 | |
| Trade debts | 44 | €2,160,518 | €2,243,907 | +€83,388 | +3.9% |
| Suppliers | 440/4 | €2,160,518 | €2,243,907 | +€83,388 | +3.9% |
| Taxes, remuneration and social security | 45 | €591,339 | €775,895 | +€184,557 | +31.2% |
| Taxes | 450/3 | €195,155 | €328,387 | +€133,232 | +68.3% |
| Remuneration and social security | 454/9 | €396,184 | €447,509 | +€51,325 | +13.0% |
| Operating income | 70/76A | €20,691,377 | €22,515,156 | +€1.8m | +8.8% |
| Turnover | 70 | €20,546,795 | €22,064,576 | +€1.5m | +7.4% |
| Other operating income | 74 | €144,582 | €450,580 | +€305,998 | +212% |
| Operating charges | 60/66A | €19,326,000 | €20,333,962 | +€1.0m | +5.2% |
| Goods for resale, raw materials and consumables | 60 | €12,994,515 | €13,181,275 | +€186,761 | +1.4% |
| Purchases | 600/8 | €12,920,706 | €13,059,019 | +€138,313 | +1.1% |
| Change in stocks: decrease (increase) | 609 | €73,809 | €122,256 | +€48,448 | +65.6% |
| Services and other goods | 61 | €3,333,956 | €3,688,813 | +€354,857 | +10.6% |
| Remuneration, social security and pensions | 62 | €2,378,731 | €2,770,704 | +€391,973 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €567,168 | €618,431 | +€51,263 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,485 | €25,981 | +€21,496 | +479% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €27 | - | -€27 | |
| Other operating charges | 640/8 | €43,573 | €48,758 | +€5,185 | +11.9% |
| Non-recurring operating charges | 66A | €3,546 | - | -€3,546 | |
| Operating profit (loss) | 9901 | €1,365,377 | €2,181,194 | +€815,817 | +59.8% |
| Financial income | 75/76B | €113,679 | €59,636 | -€54,043 | -47.5% |
| Recurring financial income | 75 | €113,679 | €59,636 | -€54,043 | -47.5% |
| Income from current assets | 751 | €52,171 | €27,326 | -€24,845 | -47.6% |
| Other financial income | 752/9 | €61,508 | €32,310 | -€29,198 | -47.5% |
| Financial charges | 65/66B | €55,533 | €47,113 | -€8,419 | -15.2% |
| Recurring financial charges | 65 | €55,533 | €47,113 | -€8,419 | -15.2% |
| Debt charges | 650 | €43,097 | €31,275 | -€11,821 | -27.4% |
| Other financial charges | 652/9 | €12,436 | €15,838 | +€3,402 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €1,423,523 | €2,193,717 | +€770,194 | +54.1% |
| Income taxes | 67/77 | €379,000 | €551,268 | +€172,268 | +45.5% |
| Taxes | 670/3 | €379,000 | €551,268 | +€172,268 | +45.5% |
| Profit (loss) for the period | 9904 | €1,044,523 | €1,642,449 | +€597,925 | +57.2% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,044,523 | €1,537,199 | +€492,675 | +47.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.