PACKO: what changed
Two fiscal 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
PACKO
NACE 28.300, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€523,227
2023 · €892,364-€369,137
Equity
€9.9m
2023 · €9.3m+€523,227
Cash
€206,510
2023 · €7.9m-€7.7m
Balance sheet total
€17.4m
2023 · €18.0m-€630,483
Largest movements
Assets
- Cash -€7.7m
down €7.7m (-97.4%), from €7.9m to €206,510
mainly Receivables within one year (-€6.5m) and Advances received (-€700,223)
- Receivables within one year +€6.5m
up €6.5m (+187.4%), from €3.5m to €10.0m
of which Other amounts receivable: +€7.8m
- Stocks and contracts +€638,510
up €638,510 (+10.5%), from €6.1m to €6.7m
Equity and liabilities
- Advances received -€700,223
down €700,223 (-28.2%), from €2.5m to €1.8m
- Profit (loss) carried forward +€523,227
up €523,227 (+18.2%), from €2.9m to €3.4m
- Short-term financial debts -€466,922
down €466,922 (-14.8%), from €3.2m to €2.7m
- Trade debts +€214,192
up €214,192 (+17.4%), from €1.2m to €1.4m
Income statement
- Turnover -€1.5m
down €1.5m (-5.3%), from €27.5m to €26.0m
- Goods and materials -€790,349
down €790,349 (-3.7%), from €21.3m to €20.5m
of which Purchases: -€2.2m
- Write-downs -€318,039
down €318,039, from €207,846 to -€110,193
From the 2023 result to the 2024 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 2023
€892,364
Turnover
-€1.5m
Other operating income
-€45,765
Goods and materials
+€790,349
Services and other goods
+€14,778
Staff costs
-€159,366
Depreciation
-€21,263
Write-downs
+€318,039
Other operating charges
+€181
Other operating items
-€13,164
Financial income
+€5,447
Financial charges
+€55,610
Taxes
+€151,744
Result 2024
€523,227
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€7.2m
Investment
-€36,767
Financing
-€466,922
Cash 2023
€7.9m
From operations (derived)
-€7.2m
Net result for the year
+€523,227
Depreciation
+€139,194
Stocks and contracts
-€638,510
Receivables within one year
-€6.5m
Deferred charges and accrued income
-€34,258
Trade debts
+€214,192
Tax, wage and social debts
-€148,390
Advances received
-€700,223
Accrued charges and deferred income
-€52,367
Investment (derived)
-€36,767
Investment in fixed assets (net)
-€36,767
Financing
-€466,922
Short-term financial debts
-€466,922
Cash 2024
€206,510
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,045,072 | €17,414,589 | -€630,483 | -3.5% |
| Fixed assets | 21/28 | €507,576 | €405,149 | -€102,427 | -20.2% |
| Intangible fixed assets | 21 | €98,227 | €81,023 | -€17,204 | -17.5% |
| Tangible fixed assets | 22/27 | €408,949 | €323,726 | -€85,223 | -20.8% |
| Land and buildings | 22 | €64,037 | €51,581 | -€12,456 | -19.5% |
| Plant, machinery and equipment | 23 | €76,938 | €63,044 | -€13,894 | -18.1% |
| Furniture and vehicles | 24 | €28,081 | €9,753 | -€18,328 | -65.3% |
| Other tangible fixed assets | 26 | €239,893 | €199,348 | -€40,545 | -16.9% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Other financial fixed assets | 284/8 | €400 | €400 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €17,537,496 | €17,009,440 | -€528,056 | -3.0% |
| Stocks and contracts in progress | 3 | €6,087,544 | €6,726,054 | +€638,510 | +10.5% |
| Stocks | 30/36 | €6,087,544 | €6,726,054 | +€638,510 | +10.5% |
| Goods purchased for resale | 34 | €5,454,770 | €4,589,555 | -€865,215 | -15.9% |
| Advance payments | 36 | €632,774 | €2,136,499 | +€1.5m | +237.6% |
| Amounts receivable within one year | 40/41 | €3,484,702 | €10,013,327 | +€6.5m | +187.4% |
| Trade receivables | 40 | €3,484,702 | €2,258,046 | -€1.2m | -35.2% |
| Other amounts receivable | 41 | - | €7,755,281 | +€7.8m | |
| Cash at bank and in hand | 54/58 | €7,935,958 | €206,510 | -€7.7m | -97.4% |
| Deferred charges and accrued income | 490/1 | €29,292 | €63,550 | +€34,258 | +117.0% |
| Total equity and liabilities | 10/49 | €18,045,072 | €17,414,589 | -€630,483 | -3.5% |
| Equity | 10/15 | €9,330,365 | €9,853,591 | +€523,227 | +5.6% |
| Contributions | 10/11 | €388,359 | €388,359 | = | 0.0% |
| Capital | 10 | €388,359 | €388,359 | = | 0.0% |
| Issued capital | 100 | €388,359 | €388,359 | = | 0.0% |
| Reserves | 13 | €6,062,421 | €6,062,421 | = | 0.0% |
| Non-distributable reserves | 130/1 | €38,836 | €38,836 | = | 0.0% |
| Legal reserve | 130 | €38,836 | €38,836 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,003 | €7,003 | = | 0.0% |
| Distributable reserves | 133 | €6,016,582 | €6,016,582 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,879,585 | €3,402,811 | +€523,227 | +18.2% |
| Amounts payable | 17/49 | €8,714,707 | €7,560,998 | -€1.2m | -13.2% |
| Amounts payable within one year | 42/48 | €8,405,775 | €7,304,432 | -€1.1m | -13.1% |
| Financial debts | 43 | €3,152,802 | €2,685,880 | -€466,922 | -14.8% |
| Credit institutions | 430/8 | €3,152,802 | €2,685,880 | -€466,922 | -14.8% |
| Trade debts | 44 | €1,233,197 | €1,447,389 | +€214,192 | +17.4% |
| Suppliers | 440/4 | €1,233,197 | €1,447,389 | +€214,192 | +17.4% |
| Advances received on contracts in progress | 46 | €2,478,859 | €1,778,636 | -€700,223 | -28.2% |
| Taxes, remuneration and social security | 45 | €1,540,917 | €1,392,527 | -€148,390 | -9.6% |
| Taxes | 450/3 | €830,796 | €637,538 | -€193,258 | -23.3% |
| Remuneration and social security | 454/9 | €710,122 | €754,990 | +€44,868 | +6.3% |
| Accrued charges and deferred income | 492/3 | €308,932 | €256,566 | -€52,367 | -17.0% |
| Operating income | 70/76A | €27,660,585 | €26,135,929 | -€1.5m | -5.5% |
| Turnover | 70 | €27,490,638 | €26,024,911 | -€1.5m | -5.3% |
| Other operating income | 74 | €155,602 | €109,837 | -€45,765 | -29.4% |
| Non-recurring operating income | 76A | €14,346 | €1,182 | -€13,164 | -91.8% |
| Operating charges | 60/66A | €26,625,454 | €25,682,737 | -€942,717 | -3.5% |
| Goods for resale, raw materials and consumables | 60 | €21,339,078 | €20,548,729 | -€790,349 | -3.7% |
| Purchases | 600/8 | €21,760,291 | €19,573,320 | -€2.2m | -10.1% |
| Change in stocks: decrease (increase) | 609 | -€421,212 | €975,408 | +€1.4m | |
| Services and other goods | 61 | €2,600,860 | €2,586,083 | -€14,778 | -0.6% |
| Remuneration, social security and pensions | 62 | €2,318,919 | €2,478,285 | +€159,366 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,931 | €139,194 | +€21,263 | +18.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €207,846 | -€110,193 | -€318,039 | |
| Other operating charges | 640/8 | €40,820 | €40,639 | -€181 | -0.4% |
| Operating profit (loss) | 9901 | €1,035,131 | €453,193 | -€581,938 | -56.2% |
| Financial income | 75/76B | €690,037 | €695,484 | +€5,447 | +0.8% |
| Recurring financial income | 75 | €690,037 | €695,484 | +€5,447 | +0.8% |
| Income from current assets | 751 | €43,907 | €184,179 | +€140,271 | +319.5% |
| Other financial income | 752/9 | €646,130 | €511,306 | -€134,824 | -20.9% |
| Financial charges | 65/66B | €478,795 | €423,185 | -€55,610 | -11.6% |
| Recurring financial charges | 65 | €478,200 | €423,185 | -€55,015 | -11.5% |
| Debt charges | 650 | €186,887 | €141,983 | -€44,904 | -24.0% |
| Other financial charges | 652/9 | €291,313 | €281,202 | -€10,111 | -3.5% |
| Non-recurring financial charges | 66B | €595 | €0 | -€595 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €1,246,374 | €725,492 | -€520,881 | -41.8% |
| Income taxes | 67/77 | €354,010 | €202,266 | -€151,744 | -42.9% |
| Taxes | 670/3 | €354,010 | €202,266 | -€151,744 | -42.9% |
| Profit (loss) for the period | 9904 | €892,364 | €523,227 | -€369,137 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €892,364 | €523,227 | -€369,137 | -41.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.