Packwork: 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.
Packwork
Largest movements
- Receivables within one year +€254,905
up €254,905 (+46.0%), from €553,589 to €808,495
of which Trade receivables: +€203,295
- Cash +€34,238
up €34,238 (+152%), from €22,500 to €56,738
mainly Tax, wage and social debts (+€163,143) and Net result for the year (+€80,181)
- Tax, wage and social debts +€163,143
up €163,143 (+89.5%), from €182,358 to €345,501
of which Remuneration and social security: +€87,206
- Profit (loss) carried forward +€80,181
up €80,181 (+256%), from €31,362 to €111,542
- Trade debts +€51,172
up €51,172 (+13.8%), from €370,528 to €421,700
- Purchases and services -€2.3m
no longer reported in 2025 (was €2.3m)
- Gross operating margin +€338,291
up €338,291 (+74.1%), from €456,756 to €795,046
- Staff costs +€156,804
up €156,804 (+36.3%), from €432,130 to €588,934
- Other operating charges +€99,736
up €99,736 (+1,986%), from €5,021 to €104,756
- Taxes +€8,288
up €8,288 (+65.1%), from €12,735 to €21,023
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 | €586,248 | €880,744 | +€294,496 | +50.2% |
| Fixed assets | 21/28 | €10,158 | €15,511 | +€5,353 | +52.7% |
| Tangible fixed assets | 22/27 | €6,806 | €8,687 | +€1,881 | +27.6% |
| Furniture and vehicles | 24 | €6,806 | €8,687 | +€1,881 | +27.6% |
| Financial fixed assets | 28 | €3,352 | €6,824 | +€3,472 | +104% |
| Current assets | 29/58 | €576,090 | €865,233 | +€289,143 | +50.2% |
| Amounts receivable within one year | 40/41 | €553,589 | €808,495 | +€254,905 | +46.0% |
| Trade receivables | 40 | €453,333 | €656,628 | +€203,295 | +44.8% |
| Other amounts receivable | 41 | €100,256 | €151,867 | +€51,610 | +51.5% |
| Cash at bank and in hand | 54/58 | €22,500 | €56,738 | +€34,238 | +152% |
| Total equity and liabilities | 10/49 | €586,248 | €880,744 | +€294,496 | +50.2% |
| Equity | 10/15 | €33,362 | €113,542 | +€80,181 | +240% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,362 | €111,542 | +€80,181 | +256% |
| Amounts payable | 17/49 | €552,886 | €767,201 | +€214,315 | +38.8% |
| Amounts payable within one year | 42/48 | €552,886 | €767,201 | +€214,315 | +38.8% |
| Trade debts | 44 | €370,528 | €421,700 | +€51,172 | +13.8% |
| Suppliers | 440/4 | €370,528 | €421,700 | +€51,172 | +13.8% |
| Taxes, remuneration and social security | 45 | €182,358 | €345,501 | +€163,143 | +89.5% |
| Taxes | 450/3 | €75,395 | €151,331 | +€75,937 | +101% |
| Remuneration and social security | 454/9 | €106,964 | €194,170 | +€87,206 | +81.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,279,655 | - | -€2.3m | |
| Remuneration, social security and pensions | 62 | €432,130 | €588,934 | +€156,804 | +36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,772 | +€1,772 | |
| Other operating charges | 640/8 | €5,021 | €104,756 | +€99,736 | +1,986% |
| Gross operating margin | 9900 | €456,756 | €795,046 | +€338,291 | +74.1% |
| Operating profit (loss) | 9901 | €19,605 | €99,584 | +€79,979 | +408% |
| Financial income | 75/76B | €4,165 | €6,611 | +€2,446 | +58.7% |
| Recurring financial income | 75 | €4,165 | €6,611 | +€2,446 | +58.7% |
| Financial charges | 65/66B | €814 | €4,992 | +€4,178 | +513% |
| Recurring financial charges | 65 | €814 | €4,992 | +€4,178 | +513% |
| Profit (loss) for the period before taxes | 9903 | €22,955 | €101,203 | +€78,248 | +341% |
| Income taxes | 67/77 | €12,735 | €21,023 | +€8,288 | +65.1% |
| Profit (loss) for the period | 9904 | €10,220 | €80,181 | +€69,960 | +685% |
| Profit (loss) for the period to be appropriated | 9905 | €10,220 | €80,181 | +€69,960 | +685% |
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 30 October 2026 via checked.be.