PACORINI ANTWERP: what changed
What changed
PACORINI ANTWERP
NACE 52.250, Logistics services
filed annual accounts (NBB)
Net result for the year
-€1.9m
2024 · €145,235-€2.1m
Equity
€5.7m
2024 · €7.7m-€1.9m
Cash
€890,921
2024 · €752,360+€138,561
Balance sheet total
€15.8m
2024 · €18.8m-€3.1m
Largest movements
Assets
- Receivables within one year -€2.1m
down €2.1m (-32.9%), from €6.3m to €4.2m
of which Trade receivables: -€2.2m
- Stocks and contracts -€619,305
down €619,305 (-62.9%), from €984,448 to €365,143
- Deferred charges and accrued income -€507,251
down €507,251 (-91.9%), from €552,144 to €44,893
Equity and liabilities
- Profit (loss) carried forward -€1.9m
down €1.9m, from €381,862 to -€1.5m
- Trade debts -€1.6m
down €1.6m (-28.7%), from €5.7m to €4.1m
- Other debts +€1.4m
up €1.4m (+58.7%), from €2.3m to €3.7m
- Short-term financial debts -€731,880
down €731,880 (-31.9%), from €2.3m to €1.6m
Income statement
- Turnover -€1.6m
down €1.6m (-7.3%), from €21.8m to €20.2m
- Goods and materials -€1.3m
down €1.3m (-19.4%), from €7.0m to €5.6m
- Provisions +€386,349
up €386,349, from -€386,349 to €0
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
€145,235
Turnover
-€1.6m
Other operating income
-€184,291
Goods and materials
+€1.3m
Services and other goods
-€66,597
Staff costs
+€180,174
Depreciation
+€177,332
Write-downs
-€34,375
Provisions
-€386,349
Other operating charges
+€6,655
Other operating items
-€1.5m
Financial income
+€94,498
Financial charges
-€132,233
Taxes
-€17,756
Result 2025
-€1.9m
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
+€1.3m
Investment
-€429,300
Financing
-€747,590
Cash 2024
€752,360
From operations (derived)
+€1.3m
Net result for the year
-€1.9m
Depreciation
+€460,004
Stocks and contracts
+€619,305
Receivables within one year
+€2.1m
Deferred charges and accrued income
+€507,251
Provisions
-€11,215
Trade debts
-€1.6m
Tax, wage and social debts
-€46,809
Advances received
+€1,647
Other debts
+€1.4m
Accrued charges and deferred income
-€56,989
Investment (derived)
-€429,300
Investment in fixed assets (net)
-€429,300
Financing
-€747,590
Debts after one year
+€13,259
Current portion of long-term debt
-€28,968
Short-term financial debts
-€731,880
Cash 2025
€890,921
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,840,920 | €15,762,796 | -€3.1m | -16.3% |
| Fixed assets | 21/28 | €10,283,705 | €10,253,002 | -€30,704 | -0.3% |
| Intangible fixed assets | 21 | €114,493 | €114,510 | +€17 | 0.0% |
| Tangible fixed assets | 22/27 | €993,228 | €959,473 | -€33,754 | -3.4% |
| Plant, machinery and equipment | 23 | €474,855 | €480,406 | +€5,551 | +1.2% |
| Furniture and vehicles | 24 | €133,696 | €81,207 | -€52,489 | -39.3% |
| Leasing and similar rights | 25 | €34,279 | €120,424 | +€86,145 | +251% |
| Other tangible fixed assets | 26 | €343,364 | €277,437 | -€65,927 | -19.2% |
| Assets under construction and advance payments | 27 | €7,033 | €0 | -€7,033 | -100% |
| Financial fixed assets | 28 | €9,175,984 | €9,179,018 | +€3,033 | 0.0% |
| Affiliated companies | 280/1 | €9,130,096 | €9,124,130 | -€5,967 | -0.1% |
| Participating interests | 280 | €7,000,000 | €7,000,000 | = | 0.0% |
| Amounts receivable | 281 | €2,130,096 | €2,124,130 | -€5,967 | -0.3% |
| Other financial fixed assets | 284/8 | €45,888 | €54,888 | +€9,000 | +19.6% |
| Shares | 284 | €796 | €796 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €45,092 | €54,092 | +€9,000 | +20.0% |
| Current assets | 29/58 | €8,557,215 | €5,509,794 | -€3.0m | -35.6% |
| Stocks and contracts in progress | 3 | €984,448 | €365,143 | -€619,305 | -62.9% |
| Contracts in progress | 37 | €984,448 | €365,143 | -€619,305 | -62.9% |
| Amounts receivable within one year | 40/41 | €6,268,263 | €4,208,837 | -€2.1m | -32.9% |
| Trade receivables | 40 | €5,830,182 | €3,656,637 | -€2.2m | -37.3% |
| Other amounts receivable | 41 | €438,081 | €552,201 | +€114,119 | +26.0% |
| Cash at bank and in hand | 54/58 | €752,360 | €890,921 | +€138,561 | +18.4% |
| Deferred charges and accrued income | 490/1 | €552,144 | €44,893 | -€507,251 | -91.9% |
| Total equity and liabilities | 10/49 | €18,840,920 | €15,762,796 | -€3.1m | -16.3% |
| Equity | 10/15 | €7,667,074 | €5,738,371 | -€1.9m | -25.2% |
| Contributions | 10/11 | €7,205,051 | €7,205,051 | = | 0.0% |
| Capital | 10 | €7,205,051 | €7,205,051 | = | 0.0% |
| Issued capital | 100 | €7,205,051 | €7,205,051 | = | 0.0% |
| Reserves | 13 | €80,162 | €46,515 | -€33,646 | -42.0% |
| Non-distributable reserves | 130/1 | €46,515 | €46,515 | = | 0.0% |
| Legal reserve | 130 | €46,515 | €46,515 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,646 | €0 | -€33,646 | -100% |
| Profit (loss) carried forward | 14 | €381,862 | -€1,513,196 | -€1.9m | |
| Provisions and deferred taxes | 16 | €11,215 | €0 | -€11,215 | -100% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €11,215 | €0 | -€11,215 | -100% |
| Amounts payable | 17/49 | €11,162,630 | €10,024,426 | -€1.1m | -10.2% |
| Amounts payable after more than one year | 17 | €75,858 | €89,116 | +€13,259 | +17.5% |
| Financial debts | 170/4 | €75,858 | €89,116 | +€13,259 | +17.5% |
| Leasing and similar obligations | 172 | €5,852 | €77,146 | +€71,294 | +1,218% |
| Credit institutions | 173 | €70,005 | €11,970 | -€58,035 | -82.9% |
| Amounts payable within one year | 42/48 | €11,012,283 | €9,917,809 | -€1.1m | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €131,414 | €102,446 | -€28,968 | -22.0% |
| Financial debts | 43 | €2,296,592 | €1,564,712 | -€731,880 | -31.9% |
| Credit institutions | 430/8 | €2,296,592 | €1,564,712 | -€731,880 | -31.9% |
| Trade debts | 44 | €5,701,735 | €4,063,272 | -€1.6m | -28.7% |
| Suppliers | 440/4 | €5,701,735 | €4,063,272 | -€1.6m | -28.7% |
| Advances received on contracts in progress | 46 | €651 | €2,298 | +€1,647 | +253% |
| Taxes, remuneration and social security | 45 | €581,891 | €535,082 | -€46,809 | -8.0% |
| Taxes | 450/3 | €124,738 | €108,056 | -€16,682 | -13.4% |
| Remuneration and social security | 454/9 | €457,153 | €427,026 | -€30,127 | -6.6% |
| Other amounts payable | 47/48 | €2,300,000 | €3,650,000 | +€1.4m | +58.7% |
| Accrued charges and deferred income | 492/3 | €74,490 | €17,500 | -€56,989 | -76.5% |
| Operating income | 70/76A | €23,017,200 | €19,774,722 | -€3.2m | -14.1% |
| Turnover | 70 | €21,780,240 | €20,179,548 | -€1.6m | -7.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €874,653 | -€619,305 | -€1.5m | |
| Other operating income | 74 | €362,307 | €178,016 | -€184,291 | -50.9% |
| Non-recurring operating income | 76A | €0 | €36,464 | +€36,464 | |
| Operating charges | 60/66A | €22,589,728 | €21,365,700 | -€1.2m | -5.4% |
| Goods for resale, raw materials and consumables | 60 | €6,959,776 | €5,611,946 | -€1.3m | -19.4% |
| Purchases | 600/8 | €6,959,776 | €5,611,946 | -€1.3m | -19.4% |
| Services and other goods | 61 | €11,520,996 | €11,587,593 | +€66,597 | +0.6% |
| Remuneration, social security and pensions | 62 | €3,691,655 | €3,511,481 | -€180,174 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €637,336 | €460,004 | -€177,332 | -27.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €40,805 | €75,180 | +€34,375 | +84.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€386,349 | €0 | +€386,349 | |
| Other operating charges | 640/8 | €85,299 | €78,645 | -€6,655 | -7.8% |
| Non-recurring operating charges | 66A | €40,210 | €40,850 | +€640 | +1.6% |
| Operating profit (loss) | 9901 | €427,471 | -€1,590,977 | -€2.0m | |
| Financial income | 75/76B | €79,846 | €174,344 | +€94,498 | +118% |
| Recurring financial income | 75 | €79,846 | €174,344 | +€94,498 | +118% |
| Income from financial fixed assets | 750 | €51,988 | €58,117 | +€6,129 | +11.8% |
| Income from current assets | 751 | €38 | €3,227 | +€3,190 | +8,501% |
| Other financial income | 752/9 | €27,820 | €113,000 | +€85,180 | +306% |
| Financial charges | 65/66B | €367,350 | €499,583 | +€132,233 | +36.0% |
| Recurring financial charges | 65 | €367,350 | €499,583 | +€132,233 | +36.0% |
| Debt charges | 650 | €318,061 | €319,788 | +€1,728 | +0.5% |
| Other financial charges | 652/9 | €49,289 | €179,794 | +€130,505 | +265% |
| Profit (loss) for the period before taxes | 9903 | €139,967 | -€1,916,216 | -€2.1m | |
| Transfer from deferred taxes | 780 | €11,215 | €11,215 | = | 0.0% |
| Income taxes | 67/77 | €5,947 | €23,703 | +€17,756 | +299% |
| Taxes | 670/3 | €5,947 | €23,703 | +€17,756 | +299% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €145,235 | -€1,928,704 | -€2.1m | |
| Transfer from tax-exempt reserves | 789 | €33,646 | €33,646 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €178,882 | -€1,895,058 | -€2.1m |
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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 1 November 2026 via checked.be.