PGS SPECIAL 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.
PGS SPECIAL PACKAGING
Largest movements
- Stocks and contracts +€877,932
up €877,932, from €0 to €877,932
- Receivables within one year +€355,917
up €355,917 (+683%), from €52,088 to €408,005
of which Trade receivables: +€277,910
- Tangible fixed assets +€153,740
up €153,740 (+1,608%), from €9,559 to €163,299
of which Plant, machinery and equipment: +€156,077
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€70,170
up €70,170 (+486%), from €14,435 to €84,604
mainly Trade debts (+€1.2m) and Net result for the year (+€165,788)
- Trade debts +€1.2m
up €1.2m (+9,471%), from €12,604 to €1.2m
- Reserves +€238,202
up €238,202 (+377%), from €63,150 to €301,352
of which Distributable reserves: +€238,202
- Profit (loss) carried forward -€72,414
down €72,414 (-100%), from €72,414 to €0
- Tax, wage and social debts -€36,716
down €36,716 (-100%), from €36,716 to €0
of which Remuneration and social security: -€22,243
- Short-term financial debts +€28,392
new in 2025: €28,392
- Turnover -€1.2m
no longer reported in 2025 (was €1.2m)
- Goods and materials -€781,639
no longer reported in 2025 (was €781,639)
of which Purchases: -€725,771
- Gross operating margin +€209,625
new in 2025: €209,625
- Staff costs -€208,708
down €208,708 (-99.6%), from €209,618 to €910
- Services and other goods -€186,014
no longer reported in 2025 (was €186,014)
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 | €191,081 | €1,542,339 | +€1.4m | +707% |
| Fixed assets | 21/28 | €9,559 | €163,299 | +€153,740 | +1,608% |
| Tangible fixed assets | 22/27 | €9,559 | €163,299 | +€153,740 | +1,608% |
| Plant, machinery and equipment | 23 | €7,222 | €163,299 | +€156,077 | +2,161% |
| Furniture and vehicles | 24 | €2,337 | €0 | -€2,337 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €181,522 | €1,379,041 | +€1.2m | +660% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Stocks and contracts in progress | 3 | €0 | €877,932 | +€877,932 | |
| Stocks | 30/36 | €0 | €877,932 | +€877,932 | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €52,088 | €408,005 | +€355,917 | +683% |
| Trade receivables | 40 | €43,088 | €320,997 | +€277,910 | +645% |
| Other amounts receivable | 41 | €9,000 | €87,007 | +€78,007 | +867% |
| Cash at bank and in hand | 54/58 | €14,435 | €84,604 | +€70,170 | +486% |
| Deferred charges and accrued income | 490/1 | €15,000 | €8,500 | -€6,500 | -43.3% |
| Total equity and liabilities | 10/49 | €191,081 | €1,542,339 | +€1.4m | +707% |
| Equity | 10/15 | €141,761 | €307,549 | +€165,788 | +117% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €63,150 | €301,352 | +€238,202 | +377% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | - | €238,202 | +€238,202 | |
| Profit (loss) carried forward | 14 | €72,414 | €0 | -€72,414 | -100% |
| Amounts payable | 17/49 | €49,320 | €1,234,790 | +€1.2m | +2,404% |
| Amounts payable within one year | 42/48 | €49,320 | €1,234,790 | +€1.2m | +2,404% |
| Financial debts | 43 | - | €28,392 | +€28,392 | |
| Credit institutions | 430/8 | - | €28,392 | +€28,392 | |
| Trade debts | 44 | €12,604 | €1,206,398 | +€1.2m | +9,471% |
| Suppliers | 440/4 | €12,604 | €1,206,398 | +€1.2m | +9,471% |
| Taxes, remuneration and social security | 45 | €36,716 | €0 | -€36,716 | -100% |
| Taxes | 450/3 | €14,473 | €0 | -€14,473 | -100% |
| Remuneration and social security | 454/9 | €22,243 | €0 | -€22,243 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €1,095,646 | - | -€1.1m | |
| Turnover | 70 | €1,176,852 | - | -€1.2m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€85,771 | - | +€85,771 | |
| Other operating income | 74 | €4,564 | - | -€4,564 | |
| Non-recurring operating income | 76A | - | €913 | +€913 | |
| Operating charges | 60/66A | €1,241,487 | - | -€1.2m | |
| Goods for resale, raw materials and consumables | 60 | €781,639 | - | -€781,639 | |
| Purchases | 600/8 | €725,771 | - | -€725,771 | |
| Change in stocks: decrease (increase) | 609 | €55,868 | - | -€55,868 | |
| Services and other goods | 61 | €186,014 | - | -€186,014 | |
| Remuneration, social security and pensions | 62 | €209,618 | €910 | -€208,708 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,096 | €50,998 | +€43,902 | +619% |
| Other operating charges | 640/8 | €1,355 | €758 | -€596 | -44.0% |
| Non-recurring operating charges | 66A | €55,764 | €0 | -€55,764 | -100% |
| Gross operating margin | 9900 | - | €209,625 | +€209,625 | |
| Operating profit (loss) | 9901 | -€145,842 | €156,958 | +€302,800 | |
| Financial income | 75/76B | €804 | €16,173 | +€15,369 | +1,912% |
| Recurring financial income | 75 | €804 | €16,173 | +€15,369 | +1,912% |
| Income from current assets | 751 | €577 | - | -€577 | |
| Other financial income | 752/9 | €227 | - | -€227 | |
| Financial charges | 65/66B | €207 | €566 | +€359 | +173% |
| Recurring financial charges | 65 | €207 | €566 | +€359 | +173% |
| Other financial charges | 652/9 | €207 | - | -€207 | |
| Profit (loss) for the period before taxes | 9903 | -€145,245 | €172,565 | +€317,810 | |
| Income taxes | 67/77 | -€163 | €6,777 | +€6,940 | |
| Taxes | 670/3 | €0 | - | = | |
| Tax adjustments and reversals of tax provisions | 77 | €163 | - | -€163 | |
| Profit (loss) for the period | 9904 | -€145,082 | €165,788 | +€310,870 | |
| Transfer to tax-exempt reserves | 689 | €63,150 | €0 | -€63,150 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€208,232 | €165,788 | +€374,020 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.