Packwork: 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.
Packwork
Largest movements
- Receivables within one year +€318,305
up €318,305 (+135.3%), from €235,284 to €553,589
of which Trade receivables: +€266,147
- Tangible fixed assets +€6,806
new in 2024: €6,806
- Trade debts +€181,174
up €181,174 (+95.7%), from €189,354 to €370,528
- Tax, wage and social debts +€140,252
up €140,252 (+333.1%), from €42,106 to €182,358
of which Remuneration and social security: +€80,259
- Profit (loss) carried forward +€10,220
up €10,220 (+48.3%), from €21,142 to €31,362
- Purchases and services +€1.2m
up €1.2m (+102.3%), from €1.1m to €2.3m
- Staff costs +€362,041
up €362,041 (+516.5%), from €70,089 to €432,130
- Gross operating margin +€352,038
up €352,038 (+336.2%), from €104,717 to €456,756
- Taxes +€5,438
up €5,438 (+74.5%), from €7,297 to €12,735
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,792 | €586,248 | +€331,456 | +130.1% |
| Fixed assets | 21/28 | - | €10,158 | +€10,158 | |
| Tangible fixed assets | 22/27 | - | €6,806 | +€6,806 | |
| Furniture and vehicles | 24 | - | €6,806 | +€6,806 | |
| Financial fixed assets | 28 | - | €3,352 | +€3,352 | |
| Current assets | 29/58 | €254,792 | €576,090 | +€321,298 | +126.1% |
| Amounts receivable within one year | 40/41 | €235,284 | €553,589 | +€318,305 | +135.3% |
| Trade receivables | 40 | €187,186 | €453,333 | +€266,147 | +142.2% |
| Other amounts receivable | 41 | €48,098 | €100,256 | +€52,158 | +108.4% |
| Cash at bank and in hand | 54/58 | €19,508 | €22,500 | +€2,993 | +15.3% |
| Total equity and liabilities | 10/49 | €254,792 | €586,248 | +€331,456 | +130.1% |
| Equity | 10/15 | €23,142 | €33,362 | +€10,220 | +44.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €21,142 | €31,362 | +€10,220 | +48.3% |
| Amounts payable | 17/49 | €231,650 | €552,886 | +€321,236 | +138.7% |
| Amounts payable within one year | 42/48 | €231,459 | €552,886 | +€321,427 | +138.9% |
| Trade debts | 44 | €189,354 | €370,528 | +€181,174 | +95.7% |
| Suppliers | 440/4 | €189,354 | €370,528 | +€181,174 | +95.7% |
| Taxes, remuneration and social security | 45 | €42,106 | €182,358 | +€140,252 | +333.1% |
| Taxes | 450/3 | €15,402 | €75,395 | +€59,993 | +389.5% |
| Remuneration and social security | 454/9 | €26,704 | €106,964 | +€80,259 | +300.5% |
| Accrued charges and deferred income | 492/3 | €191 | - | -€191 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,127,006 | €2,279,655 | +€1.2m | +102.3% |
| Remuneration, social security and pensions | 62 | €70,089 | €432,130 | +€362,041 | +516.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101 | - | -€1,101 | |
| Other operating charges | 640/8 | €5,942 | €5,021 | -€921 | -15.5% |
| Gross operating margin | 9900 | €104,717 | €456,756 | +€352,038 | +336.2% |
| Operating profit (loss) | 9901 | €27,585 | €19,605 | -€7,981 | -28.9% |
| Financial income | 75/76B | €1,269 | €4,165 | +€2,896 | +228.2% |
| Recurring financial income | 75 | €1,269 | €4,165 | +€2,896 | +228.2% |
| Financial charges | 65/66B | €415 | €814 | +€399 | +96.2% |
| Recurring financial charges | 65 | €415 | €814 | +€399 | +96.2% |
| Profit (loss) for the period before taxes | 9903 | €28,439 | €22,955 | -€5,484 | -19.3% |
| Income taxes | 67/77 | €7,297 | €12,735 | +€5,438 | +74.5% |
| Profit (loss) for the period | 9904 | €21,142 | €10,220 | -€10,921 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,142 | €10,220 | -€10,921 | -51.7% |
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 2 October 2026 via checked.be.