PACK INVEST: 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.
PACK INVEST
Largest movements
- Tangible fixed assets -€30,993
down €30,993 (-18.9%), from €163,620 to €132,628
- Cash -€11,070
down €11,070 (-40.1%), from €27,596 to €16,526
mainly Current portion of long-term debt (-€52,978) and Contributions, distributions and other (-€20,460)
- Receivables within one year +€8,909
up €8,909 (+848%), from €1,050 to €9,959
of which Other amounts receivable: +€6,306
- Stocks and contracts +€6,480
new in 2023: €6,480
- Current portion of long-term debt -€52,978
no longer reported in 2023 (was €52,978)
- Reserves +€26,137
up €26,137 (+54.3%), from €48,156 to €74,293
- Debts after one year +€21,747
up €21,747 (+68.1%), from €31,913 to €53,661
- Contributions -€20,460
no longer reported in 2023 (was €20,460)
- Other debts -€4,553
down €4,553 (-31.3%), from €14,563 to €10,010
- Other operating charges +€5,323
up €5,323 (+57.5%), from €9,260 to €14,583
- Gross operating margin -€3,023
down €3,023 (-3.6%), from €85,063 to €82,040
- Taxes -€1,683
down €1,683 (-15.0%), from €11,229 to €9,546
- Financial charges -€1,090
down €1,090 (-58.2%), from €1,872 to €782
of which Financial charges: -€1,090
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €193,937 | €167,444 | -€26,493 | -13.7% |
| Fixed assets | 21/28 | €163,620 | €132,628 | -€30,993 | -18.9% |
| Tangible fixed assets | 22/27 | €163,620 | €132,628 | -€30,993 | -18.9% |
| Other tangible fixed assets | 26 | €163,620 | €132,628 | -€30,993 | -18.9% |
| Current assets | 29/58 | €30,316 | €34,816 | +€4,500 | +14.8% |
| Stocks and contracts in progress | 3 | - | €6,480 | +€6,480 | |
| Stocks | 30/36 | - | €6,480 | +€6,480 | |
| Amounts receivable within one year | 40/41 | €1,050 | €9,959 | +€8,909 | +848% |
| Trade receivables | 40 | - | €2,603 | +€2,603 | |
| Other amounts receivable | 41 | €1,050 | €7,357 | +€6,306 | +600% |
| Cash at bank and in hand | 54/58 | €27,596 | €16,526 | -€11,070 | -40.1% |
| Deferred charges and accrued income | 490/1 | €1,671 | €1,851 | +€180 | +10.8% |
| Total equity and liabilities | 10/49 | €193,937 | €167,444 | -€26,493 | -13.7% |
| Equity | 10/15 | €68,616 | €74,293 | +€5,677 | +8.3% |
| Contributions | 10/11 | €20,460 | - | -€20,460 | |
| Contributions outside capital | 11 | €20,460 | - | -€20,460 | |
| Other | 1109/19 | €20,460 | - | -€20,460 | |
| Reserves | 13 | €48,156 | €74,293 | +€26,137 | +54.3% |
| Distributable reserves | 133 | €48,156 | €74,293 | +€26,137 | +54.3% |
| Amounts payable | 17/49 | €125,321 | €93,151 | -€32,170 | -25.7% |
| Amounts payable after more than one year | 17 | €31,913 | €53,661 | +€21,747 | +68.1% |
| Other amounts payable | 178/9 | €31,913 | €53,661 | +€21,747 | +68.1% |
| Amounts payable within one year | 42/48 | €93,408 | €36,140 | -€57,267 | -61.3% |
| Current portion of amounts payable after more than one year | 42 | €52,978 | - | -€52,978 | |
| Trade debts | 44 | €348 | €1,276 | +€929 | +267% |
| Suppliers | 440/4 | €348 | €1,276 | +€929 | +267% |
| Taxes, remuneration and social security | 45 | €25,519 | €24,854 | -€665 | -2.6% |
| Taxes | 450/3 | €25,519 | €24,854 | -€665 | -2.6% |
| Other amounts payable | 47/48 | €14,563 | €10,010 | -€4,553 | -31.3% |
| Accrued charges and deferred income | 492/3 | - | €3,350 | +€3,350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,235 | €30,993 | -€242 | -0.8% |
| Other operating charges | 640/8 | €9,260 | €14,583 | +€5,323 | +57.5% |
| Non-recurring operating charges | 66A | €1,310 | - | -€1,310 | |
| Gross operating margin | 9900 | €85,063 | €82,040 | -€3,023 | -3.6% |
| Operating profit (loss) | 9901 | €43,259 | €36,465 | -€6,794 | -15.7% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €1,872 | €782 | -€1,090 | -58.2% |
| Recurring financial charges | 65 | €1,872 | €782 | -€1,090 | -58.2% |
| Non-recurring financial charges | 66B | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €41,391 | €35,683 | -€5,708 | -13.8% |
| Income taxes | 67/77 | €11,229 | €9,546 | -€1,683 | -15.0% |
| Profit (loss) for the period | 9904 | €30,162 | €26,137 | -€4,025 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,162 | €26,137 | -€4,025 | -13.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.