Passionate about Packaging: 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.
Passionate about Packaging
Largest movements
- Receivables after one year -€40,000
down €40,000 (-80.0%), from €50,000 to €10,000
- Cash -€13,338
down €13,338 (-98.6%), from €13,521 to €183
mainly Other debts (-€54,615) and Debts after one year (-€7,966)
- Tangible fixed assets -€11,495
down €11,495 (-28.5%), from €40,341 to €28,847
of which Leasing and similar rights: -€11,495
- Receivables within one year +€4,340
up €4,340 (+89.2%), from €4,864 to €9,204
of which Trade receivables: +€2,628
- Deferred charges and accrued income -€1,383
down €1,383 (-82.8%), from €1,671 to €288
- Other debts -€54,615
down €54,615 (-89.6%), from €60,962 to €6,346
- Debts after one year -€7,966
down €7,966 (-34.6%), from €23,009 to €15,044
- Reserves +€7,480
up €7,480 (+787%), from €950 to €8,430
- Tax, wage and social debts -€4,663
down €4,663 (-35.0%), from €13,322 to €8,658
of which Taxes: -€3,961
- Trade debts -€2,721
down €2,721 (-64.4%), from €4,223 to €1,502
- Gross operating margin -€30,094
down €30,094 (-45.2%), from €66,564 to €36,470
- Staff costs -€13,019
down €13,019 (-53.0%), from €24,546 to €11,527
- Taxes -€5,669
down €5,669 (-66.2%), from €8,559 to €2,890
- Financial income -€808
down €808 (-80.2%), from €1,008 to €200
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.
Derived cash bridge
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 | €110,531 | €48,656 | -€61,875 | -56.0% |
| Fixed assets | 21/28 | €40,475 | €28,981 | -€11,495 | -28.4% |
| Tangible fixed assets | 22/27 | €40,341 | €28,847 | -€11,495 | -28.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €40,341 | €28,847 | -€11,495 | -28.5% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €70,056 | €19,675 | -€50,381 | -71.9% |
| Amounts receivable after more than one year | 29 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Other amounts receivable | 291 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Amounts receivable within one year | 40/41 | €4,864 | €9,204 | +€4,340 | +89.2% |
| Trade receivables | 40 | €3,582 | €6,210 | +€2,628 | +73.4% |
| Other amounts receivable | 41 | €1,282 | €2,994 | +€1,712 | +134% |
| Cash at bank and in hand | 54/58 | €13,521 | €183 | -€13,338 | -98.6% |
| Deferred charges and accrued income | 490/1 | €1,671 | €288 | -€1,383 | -82.8% |
| Total equity and liabilities | 10/49 | €110,531 | €48,656 | -€61,875 | -56.0% |
| Equity | 10/15 | €1,450 | €8,930 | +€7,480 | +516% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €950 | €8,430 | +€7,480 | +787% |
| Distributable reserves | 133 | €950 | €8,430 | +€7,480 | +787% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,081 | €39,726 | -€69,355 | -63.6% |
| Amounts payable after more than one year | 17 | €23,009 | €15,044 | -€7,966 | -34.6% |
| Financial debts | 170/4 | €23,009 | €15,044 | -€7,966 | -34.6% |
| Amounts payable within one year | 42/48 | €86,072 | €24,682 | -€61,390 | -71.3% |
| Current portion of amounts payable after more than one year | 42 | €7,566 | €7,966 | +€400 | +5.3% |
| Financial debts | 43 | - | €210 | +€210 | |
| Credit institutions | 430/8 | - | €210 | +€210 | |
| Trade debts | 44 | €4,223 | €1,502 | -€2,721 | -64.4% |
| Suppliers | 440/4 | €4,223 | €1,502 | -€2,721 | -64.4% |
| Taxes, remuneration and social security | 45 | €13,322 | €8,658 | -€4,663 | -35.0% |
| Taxes | 450/3 | €10,020 | €6,059 | -€3,961 | -39.5% |
| Remuneration and social security | 454/9 | €3,302 | €2,600 | -€702 | -21.3% |
| Other amounts payable | 47/48 | €60,962 | €6,346 | -€54,615 | -89.6% |
| Remuneration, social security and pensions | 62 | €24,546 | €11,527 | -€13,019 | -53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,548 | €11,495 | -€53 | -0.5% |
| Other operating charges | 640/8 | €1,469 | €1,525 | +€56 | +3.8% |
| Gross operating margin | 9900 | €66,564 | €36,470 | -€30,094 | -45.2% |
| Operating profit (loss) | 9901 | €29,002 | €11,924 | -€17,078 | -58.9% |
| Financial income | 75/76B | €1,008 | €200 | -€808 | -80.2% |
| Recurring financial income | 75 | €1,008 | €200 | -€808 | -80.2% |
| Financial charges | 65/66B | €2,343 | €1,754 | -€589 | -25.1% |
| Recurring financial charges | 65 | €2,343 | €1,754 | -€589 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €27,667 | €10,370 | -€17,297 | -62.5% |
| Income taxes | 67/77 | €8,559 | €2,890 | -€5,669 | -66.2% |
| Profit (loss) for the period | 9904 | €19,108 | €7,480 | -€11,628 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,108 | €7,480 | -€11,628 | -60.9% |
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 18 October 2026 via checked.be.