PACKO: 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.
PACKO
Largest movements
- Cash -€52,946
down €52,946 (-37.7%), from €140,580 to €87,634
mainly Other debts (-€100,000) and Investment in fixed assets (net) (-€3,700)
- Receivables within one year -€15,410
down €15,410 (-91.1%), from €16,916 to €1,506
of which Trade receivables: -€11,828
- Financial fixed assets +€3,700
up €3,700 (+167.2%), from €2,213 to €5,913
- Other debts -€100,000
no longer reported in 2025 (was €100,000)
- Reserves +€33,946
up €33,946 (+58.0%), from €58,522 to €92,468
- Taxes +€5,370
up €5,370 (+42.6%), from €12,612 to €17,982
- Gross operating margin +€2,147
up €2,147 (+3.8%), from €55,812 to €57,959
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.
Cash bridge derived
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 | €178,793 | €113,223 | -€65,570 | -36.7% |
| Fixed assets | 21/28 | €21,296 | €24,082 | +€2,786 | +13.1% |
| Tangible fixed assets | 22/27 | €19,083 | €18,169 | -€914 | -4.8% |
| Land and buildings | 22 | €19,083 | €18,169 | -€914 | -4.8% |
| Financial fixed assets | 28 | €2,213 | €5,913 | +€3,700 | +167.2% |
| Current assets | 29/58 | €157,496 | €89,140 | -€68,356 | -43.4% |
| Amounts receivable within one year | 40/41 | €16,916 | €1,506 | -€15,410 | -91.1% |
| Trade receivables | 40 | €13,334 | €1,506 | -€11,828 | -88.7% |
| Other amounts receivable | 41 | €3,582 | €0 | -€3,582 | -100.0% |
| Cash at bank and in hand | 54/58 | €140,580 | €87,634 | -€52,946 | -37.7% |
| Total equity and liabilities | 10/49 | €178,793 | €113,223 | -€65,570 | -36.7% |
| Equity | 10/15 | €78,522 | €112,468 | +€33,946 | +43.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €58,522 | €92,468 | +€33,946 | +58.0% |
| Distributable reserves | 133 | €58,522 | €92,468 | +€33,946 | +58.0% |
| Amounts payable | 17/49 | €100,270 | €755 | -€99,515 | -99.2% |
| Amounts payable within one year | 42/48 | €100,270 | €755 | -€99,515 | -99.2% |
| Trade debts | 44 | €100 | €214 | +€114 | +114.5% |
| Suppliers | 440/4 | €100 | €214 | +€114 | +114.5% |
| Taxes, remuneration and social security | 45 | €170 | €540 | +€370 | +217.6% |
| Taxes | 450/3 | €170 | €540 | +€370 | +217.6% |
| Other amounts payable | 47/48 | €100,000 | - | -€100,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €914 | €914 | = | 0.0% |
| Other operating charges | 640/8 | €5,122 | €5,073 | -€49 | -1.0% |
| Gross operating margin | 9900 | €55,812 | €57,959 | +€2,147 | +3.8% |
| Operating profit (loss) | 9901 | €49,776 | €51,973 | +€2,196 | +4.4% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €49,752 | €51,928 | +€2,176 | +4.4% |
| Income taxes | 67/77 | €12,612 | €17,982 | +€5,370 | +42.6% |
| Profit (loss) for the period | 9904 | €37,140 | €33,946 | -€3,194 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,140 | €33,946 | -€3,194 | -8.6% |
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 12 October 2026 via checked.be.