POP FACTORY: what changed
What changed
POP FACTORY
NACE 17.250, Manufacture of paper and paper products
filed annual accounts (NBB)
Net result for the year
€453,465
2024 · €403,339+€50,126
Equity
€5.6m
2024 · €5.1m+€453,465
Cash
€41,213
2024 · €595,896-€554,683
Balance sheet total
€20.3m
2024 · €17.7m+€2.6m
Largest movements
Assets
- Receivables within one year +€1.6m
up €1.6m (+34.3%), from €4.6m to €6.1m
of which Trade receivables: +€1.2m
- Tangible fixed assets +€1.3m
up €1.3m (+89.9%), from €1.4m to €2.7m
of which Leasing and similar rights: +€1.1m
- Cash -€554,683
down €554,683 (-93.1%), from €595,896 to €41,213
mainly Investment in fixed assets (net) (-€1.7m) and Receivables within one year (-€1.6m)
- Stocks and contracts +€302,561
up €302,561 (+10.9%), from €2.8m to €3.1m
of which Stocks: +€224,524
Equity and liabilities
- Trade debts +€846,382
up €846,382 (+32.4%), from €2.6m to €3.5m
- Short-term financial debts +€700,776
up €700,776 (+21.9%), from €3.2m to €3.9m
- Profit (loss) carried forward +€470,183
up €470,183 (+11.5%), from €4.1m to €4.5m
- Debts after one year +€447,703
up €447,703 (+8.4%), from €5.3m to €5.8m
- Current portion of long-term debt +€312,923
up €312,923 (+31.2%), from €1.0m to €1.3m
Income statement
- Turnover +€3.1m
up €3.1m (+24.5%), from €12.6m to €15.7m
- Goods and materials +€1.7m
up €1.7m (+23.4%), from €7.3m to €9.0m
of which Purchases: +€2.0m
- Services and other goods +€798,811
up €798,811 (+28.2%), from €2.8m to €3.6m
- Staff costs +€203,401
up €203,401 (+11.5%), from €1.8m to €2.0m
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
€403,339
Turnover
+€3.1m
Other operating income
-€19,734
Goods and materials
-€1.7m
Services and other goods
-€798,811
Staff costs
-€203,401
Depreciation
-€10,859
Write-downs
-€16,350
Other operating charges
+€2,154
Other operating items
-€88,962
Financial income
-€61,771
Financial charges
-€88,589
Taxes
-€60,308
Deferred taxes and other
+€21,164
Result 2025
€453,465
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
-€295,051
Investment
-€1.7m
Financing
+€1.5m
Cash 2024
€595,896
From operations (derived)
-€295,051
Net result for the year
+€453,465
Depreciation
+€476,065
Stocks and contracts
-€302,561
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€61,090
Provisions
-€5,573
Trade debts
+€846,382
Tax, wage and social debts
-€38,007
Other debts
-€25,458
Accrued charges and deferred income
-€71,893
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€1.5m
Debts after one year
+€447,703
Current portion of long-term debt
+€312,923
Short-term financial debts
+€700,776
Cash 2025
€41,213
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,728,568 | €20,348,887 | +€2.6m | +14.8% |
| Fixed assets | 21/28 | €9,718,096 | €10,963,064 | +€1.2m | +12.8% |
| Intangible fixed assets | 21 | €23,732 | €20,428 | -€3,305 | -13.9% |
| Tangible fixed assets | 22/27 | €1,416,131 | €2,688,637 | +€1.3m | +89.9% |
| Land and buildings | 22 | €344,698 | €369,125 | +€24,427 | +7.1% |
| Plant, machinery and equipment | 23 | €622,603 | €749,392 | +€126,789 | +20.4% |
| Furniture and vehicles | 24 | €36,465 | €20,831 | -€15,634 | -42.9% |
| Leasing and similar rights | 25 | €194,876 | €1,332,133 | +€1.1m | +584% |
| Other tangible fixed assets | 26 | €217,489 | €217,155 | -€334 | -0.2% |
| Financial fixed assets | 28 | €8,278,233 | €8,254,000 | -€24,233 | -0.3% |
| Affiliated companies | 280/1 | €8,250,000 | €8,250,000 | = | 0.0% |
| Participating interests | 280 | €8,250,000 | €8,250,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €28,233 | €4,000 | -€24,233 | -85.8% |
| Amounts receivable and cash guarantees | 285/8 | €28,233 | €4,000 | -€24,233 | -85.8% |
| Current assets | 29/58 | €8,010,472 | €9,385,822 | +€1.4m | +17.2% |
| Stocks and contracts in progress | 3 | €2,788,215 | €3,090,776 | +€302,561 | +10.9% |
| Stocks | 30/36 | €608,710 | €833,235 | +€224,524 | +36.9% |
| Raw materials and consumables | 30/31 | €608,710 | €833,235 | +€224,524 | +36.9% |
| Contracts in progress | 37 | €2,179,504 | €2,257,541 | +€78,037 | +3.6% |
| Amounts receivable within one year | 40/41 | €4,570,106 | €6,136,488 | +€1.6m | +34.3% |
| Trade receivables | 40 | €3,215,175 | €4,446,406 | +€1.2m | +38.3% |
| Other amounts receivable | 41 | €1,354,931 | €1,690,082 | +€335,151 | +24.7% |
| Cash at bank and in hand | 54/58 | €595,896 | €41,213 | -€554,683 | -93.1% |
| Deferred charges and accrued income | 490/1 | €56,255 | €117,345 | +€61,090 | +109% |
| Total equity and liabilities | 10/49 | €17,728,568 | €20,348,887 | +€2.6m | +14.8% |
| Equity | 10/15 | €5,114,889 | €5,568,354 | +€453,465 | +8.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €958,970 | €942,253 | -€16,718 | -1.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €579,998 | €310,680 | -€269,318 | -46.4% |
| Distributable reserves | 133 | €372,772 | €625,372 | +€252,600 | +67.8% |
| Profit (loss) carried forward | 14 | €4,075,405 | €4,545,587 | +€470,183 | +11.5% |
| Investment grants | 15 | €18,514 | €18,514 | = | 0.0% |
| Provisions and deferred taxes | 16 | €45,983 | €40,410 | -€5,573 | -12.1% |
| Deferred taxes | 168 | €45,983 | €40,410 | -€5,573 | -12.1% |
| Amounts payable | 17/49 | €12,567,696 | €14,740,123 | +€2.2m | +17.3% |
| Amounts payable after more than one year | 17 | €5,327,968 | €5,775,671 | +€447,703 | +8.4% |
| Financial debts | 170/4 | €5,327,968 | €5,775,671 | +€447,703 | +8.4% |
| Leasing and similar obligations | 172 | €284,590 | €1,033,153 | +€748,563 | +263% |
| Credit institutions | 173 | €5,043,378 | €4,742,518 | -€300,860 | -6.0% |
| Amounts payable within one year | 42/48 | €7,051,151 | €8,847,767 | +€1.8m | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €1,003,376 | €1,316,299 | +€312,923 | +31.2% |
| Financial debts | 43 | €3,196,614 | €3,897,390 | +€700,776 | +21.9% |
| Credit institutions | 430/8 | €3,196,614 | €3,897,390 | +€700,776 | +21.9% |
| Trade debts | 44 | €2,611,144 | €3,457,526 | +€846,382 | +32.4% |
| Suppliers | 440/4 | €2,611,144 | €3,457,526 | +€846,382 | +32.4% |
| Taxes, remuneration and social security | 45 | €214,464 | €176,457 | -€38,007 | -17.7% |
| Taxes | 450/3 | €52,477 | €6,441 | -€46,036 | -87.7% |
| Remuneration and social security | 454/9 | €161,987 | €170,016 | +€8,030 | +5.0% |
| Other amounts payable | 47/48 | €25,553 | €95 | -€25,458 | -99.6% |
| Accrued charges and deferred income | 492/3 | €188,577 | €116,684 | -€71,893 | -38.1% |
| Operating income | 70/76A | €13,222,653 | €16,197,124 | +€3.0m | +22.5% |
| Turnover | 70 | €12,596,916 | €15,680,083 | +€3.1m | +24.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €166,999 | €78,037 | -€88,962 | -53.3% |
| Other operating income | 74 | €458,738 | €439,004 | -€19,734 | -4.3% |
| Operating charges | 60/66A | €12,419,300 | €15,154,141 | +€2.7m | +22.0% |
| Goods for resale, raw materials and consumables | 60 | €7,291,002 | €8,998,575 | +€1.7m | +23.4% |
| Purchases | 600/8 | €7,243,089 | €9,223,100 | +€2.0m | +27.3% |
| Change in stocks: decrease (increase) | 609 | €47,912 | -€224,524 | -€272,436 | |
| Services and other goods | 61 | €2,832,717 | €3,631,528 | +€798,811 | +28.2% |
| Remuneration, social security and pensions | 62 | €1,766,816 | €1,970,218 | +€203,401 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €465,207 | €476,065 | +€10,859 | +2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,375 | €23,725 | +€16,350 | +222% |
| Other operating charges | 640/8 | €56,183 | €54,030 | -€2,154 | -3.8% |
| Operating profit (loss) | 9901 | €803,353 | €1,042,983 | +€239,629 | +29.8% |
| Financial income | 75/76B | €64,487 | €2,716 | -€61,771 | -95.8% |
| Recurring financial income | 75 | €64,487 | €2,716 | -€61,771 | -95.8% |
| Income from current assets | 751 | €4,100 | €1,606 | -€2,494 | -60.8% |
| Other financial income | 752/9 | €60,386 | €1,110 | -€59,276 | -98.2% |
| Financial charges | 65/66B | €330,222 | €418,811 | +€88,589 | +26.8% |
| Recurring financial charges | 65 | €330,222 | €418,811 | +€88,589 | +26.8% |
| Debt charges | 650 | €275,473 | €328,607 | +€53,134 | +19.3% |
| Other financial charges | 652/9 | €54,749 | €90,204 | +€35,454 | +64.8% |
| Profit (loss) for the period before taxes | 9903 | €537,618 | €626,888 | +€89,270 | +16.6% |
| Transfer from deferred taxes | 780 | €3,158 | €5,573 | +€2,414 | +76.4% |
| Transfer to deferred taxes | 680 | €18,750 | - | -€18,750 | |
| Income taxes | 67/77 | €118,687 | €178,995 | +€60,308 | +50.8% |
| Taxes | 670/3 | €118,687 | €178,995 | +€60,308 | +50.8% |
| Profit (loss) for the period | 9904 | €403,339 | €453,465 | +€50,126 | +12.4% |
| Transfer from tax-exempt reserves | 789 | €9,474 | €269,318 | +€259,843 | +2,743% |
| Transfer to tax-exempt reserves | 689 | €161,500 | - | -€161,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €251,313 | €722,783 | +€471,470 | +188% |
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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 6 November 2026 via checked.be.