UNITED PACKAGING INDUSTRY: 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.
UNITED PACKAGING INDUSTRY
Largest movements
- Cash -€61,192
down €61,192 (-39.7%), from €154,024 to €92,833
mainly Short-term financial debts (-€100,000) and Other debts (-€40,007)
- Tangible fixed assets -€59,109
down €59,109 (-8.1%), from €727,643 to €668,535
- Stocks and contracts +€16,761
up €16,761 (+4.8%), from €348,839 to €365,600
- Short-term financial debts -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Reserves +€41,672
up €41,672 (+8.9%), from €470,811 to €512,483
of which Distributable reserves: +€41,672
- Other debts -€40,007
down €40,007 (-11.7%), from €342,995 to €302,988
- Debts after one year -€26,720
down €26,720 (-10.5%), from €254,156 to €227,436
- Trade debts +€15,211
up €15,211 (+220%), from €6,920 to €22,131
- Gross operating margin +€51,179
up €51,179 (+18.7%), from €273,180 to €324,359
- Taxes +€16,973
up €16,973 (+462%), from €3,672 to €20,645
- Depreciation +€7,297
up €7,297 (+13.5%), from €53,975 to €61,272
- Staff costs -€7,045
down €7,045 (-4.2%), from €169,651 to €162,606
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 | €1,476,557 | €1,377,067 | -€99,490 | -6.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €728,693 | €669,585 | -€59,109 | -8.1% |
| Intangible fixed assets | 21 | €1,050 | €1,050 | = | 0.0% |
| Tangible fixed assets | 22/27 | €727,643 | €668,535 | -€59,109 | -8.1% |
| Land and buildings | 22 | €201,871 | €190,288 | -€11,583 | -5.7% |
| Plant, machinery and equipment | 23 | €6,445 | €5,238 | -€1,207 | -18.7% |
| Furniture and vehicles | 24 | €15,721 | €8,072 | -€7,649 | -48.7% |
| Leasing and similar rights | 25 | €45,496 | €35,608 | -€9,888 | -21.7% |
| Other tangible fixed assets | 26 | €458,111 | €429,329 | -€28,782 | -6.3% |
| Current assets | 29/58 | €747,863 | €707,482 | -€40,381 | -5.4% |
| Stocks and contracts in progress | 3 | €348,839 | €365,600 | +€16,761 | +4.8% |
| Stocks | 30/36 | €348,839 | €365,600 | +€16,761 | +4.8% |
| Amounts receivable within one year | 40/41 | €227,051 | €241,233 | +€14,182 | +6.2% |
| Trade receivables | 40 | €227,051 | €241,233 | +€14,182 | +6.2% |
| Cash at bank and in hand | 54/58 | €154,024 | €92,833 | -€61,192 | -39.7% |
| Deferred charges and accrued income | 490/1 | €17,949 | €7,816 | -€10,133 | -56.5% |
| Total equity and liabilities | 10/49 | €1,476,557 | €1,377,067 | -€99,490 | -6.7% |
| Equity | 10/15 | €575,997 | €617,669 | +€41,672 | +7.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €470,811 | €512,483 | +€41,672 | +8.9% |
| Tax-exempt reserves | 132 | €33,550 | €33,550 | = | 0.0% |
| Distributable reserves | 133 | €437,261 | €478,933 | +€41,672 | +9.5% |
| Profit (loss) carried forward | 14 | €5,185 | €5,185 | = | 0.0% |
| Amounts payable | 17/49 | €900,560 | €759,398 | -€141,162 | -15.7% |
| Amounts payable after more than one year | 17 | €254,156 | €227,436 | -€26,720 | -10.5% |
| Financial debts | 170/4 | €254,156 | €227,436 | -€26,720 | -10.5% |
| Amounts payable within one year | 42/48 | €644,601 | €531,962 | -€112,639 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €26,621 | €27,344 | +€723 | +2.7% |
| Financial debts | 43 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Credit institutions | 430/8 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Trade debts | 44 | €6,920 | €22,131 | +€15,211 | +220% |
| Suppliers | 440/4 | €6,920 | €22,131 | +€15,211 | +220% |
| Taxes, remuneration and social security | 45 | €68,065 | €79,499 | +€11,433 | +16.8% |
| Taxes | 450/3 | €42,992 | €55,482 | +€12,490 | +29.1% |
| Remuneration and social security | 454/9 | €25,073 | €24,017 | -€1,056 | -4.2% |
| Other amounts payable | 47/48 | €342,995 | €302,988 | -€40,007 | -11.7% |
| Accrued charges and deferred income | 492/3 | €1,804 | - | -€1,804 | |
| Remuneration, social security and pensions | 62 | €169,651 | €162,606 | -€7,045 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,975 | €61,272 | +€7,297 | +13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €661 | +€661 | |
| Other operating charges | 640/8 | €1,706 | €1,858 | +€152 | +8.9% |
| Gross operating margin | 9900 | €273,180 | €324,359 | +€51,179 | +18.7% |
| Operating profit (loss) | 9901 | €47,848 | €97,963 | +€50,115 | +105% |
| Financial income | 75/76B | €251 | €2,696 | +€2,445 | +974% |
| Recurring financial income | 75 | €251 | €2,696 | +€2,445 | +974% |
| Financial charges | 65/66B | €39,242 | €38,342 | -€900 | -2.3% |
| Recurring financial charges | 65 | €39,242 | €38,342 | -€900 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €8,857 | €62,317 | +€53,460 | +604% |
| Income taxes | 67/77 | €3,672 | €20,645 | +€16,973 | +462% |
| Profit (loss) for the period | 9904 | €5,185 | €41,672 | +€36,487 | +704% |
| Profit (loss) for the period to be appropriated | 9905 | €5,185 | €41,672 | +€36,487 | +704% |
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 29 October 2026 via checked.be.