CNUDDE 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.
CNUDDE PACKAGING
Largest movements
- Cash -€273,175
down €273,175 (-16.2%), from €1.7m to €1.4m
mainly Contributions, distributions and other (-€730,500) and Trade debts (-€724,177)
- Receivables within one year +€105,058
up €105,058 (+5.6%), from €1.9m to €2.0m
of which Trade receivables: +€105,149
- Tangible fixed assets -€56,492
down €56,492 (-48.2%), from €117,166 to €60,674
of which Furniture and vehicles: -€38,295
- Trade debts -€724,177
down €724,177 (-32.6%), from €2.2m to €1.5m
- Reserves +€623,447
up €623,447 (+32.8%), from €1.9m to €2.5m
of which Distributable reserves: +€623,447
- Other debts -€273,390
down €273,390 (-54.3%), from €503,890 to €230,500
- Tax, wage and social debts +€189,442
up €189,442 (+83.8%), from €226,046 to €415,488
of which Taxes: +€145,174
- Gross operating margin +€635,301
up €635,301 (+35.4%), from €1.8m to €2.4m
- Staff costs +€122,206
up €122,206 (+21.9%), from €557,778 to €679,984
- Taxes +€73,639
up €73,639 (+23.7%), from €310,352 to €383,990
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.
Cash bridge derived
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 | €4,876,542 | €4,694,120 | -€182,422 | -3.7% |
| Fixed assets | 21/28 | €122,623 | €87,770 | -€34,853 | -28.4% |
| Intangible fixed assets | 21 | - | €21,939 | +€21,939 | |
| Tangible fixed assets | 22/27 | €117,166 | €60,674 | -€56,492 | -48.2% |
| Plant, machinery and equipment | 23 | €40,518 | €22,321 | -€18,197 | -44.9% |
| Furniture and vehicles | 24 | €76,648 | €38,353 | -€38,295 | -50.0% |
| Financial fixed assets | 28 | €5,457 | €5,157 | -€300 | -5.5% |
| Current assets | 29/58 | €4,753,919 | €4,606,349 | -€147,570 | -3.1% |
| Stocks and contracts in progress | 3 | €1,142,861 | €1,162,569 | +€19,708 | +1.7% |
| Stocks | 30/36 | €1,142,861 | €1,162,569 | +€19,708 | +1.7% |
| Amounts receivable within one year | 40/41 | €1,891,579 | €1,996,638 | +€105,058 | +5.6% |
| Trade receivables | 40 | €1,881,210 | €1,986,359 | +€105,149 | +5.6% |
| Other amounts receivable | 41 | €10,370 | €10,279 | -€90 | -0.9% |
| Cash at bank and in hand | 54/58 | €1,691,185 | €1,418,010 | -€273,175 | -16.2% |
| Deferred charges and accrued income | 490/1 | €28,295 | €29,134 | +€839 | +3.0% |
| Total equity and liabilities | 10/49 | €4,876,542 | €4,694,120 | -€182,422 | -3.7% |
| Equity | 10/15 | €1,919,029 | €2,542,475 | +€623,447 | +32.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900,029 | €2,523,475 | +€623,447 | +32.8% |
| Tax-exempt reserves | 132 | €270,071 | €270,071 | = | 0.0% |
| Distributable reserves | 133 | €1,629,958 | €2,253,405 | +€623,447 | +38.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,957,513 | €2,151,645 | -€805,869 | -27.2% |
| Amounts payable within one year | 42/48 | €2,956,653 | €2,151,645 | -€805,009 | -27.2% |
| Trade debts | 44 | €2,218,665 | €1,494,487 | -€724,177 | -32.6% |
| Suppliers | 440/4 | €2,218,665 | €1,494,487 | -€724,177 | -32.6% |
| Advances received on contracts in progress | 46 | €8,052 | €11,169 | +€3,117 | +38.7% |
| Taxes, remuneration and social security | 45 | €226,046 | €415,488 | +€189,442 | +83.8% |
| Taxes | 450/3 | €183,140 | €328,314 | +€145,174 | +79.3% |
| Remuneration and social security | 454/9 | €42,906 | €87,174 | +€44,268 | +103.2% |
| Other amounts payable | 47/48 | €503,890 | €230,500 | -€273,390 | -54.3% |
| Accrued charges and deferred income | 492/3 | €860 | €0 | -€860 | -100.0% |
| Remuneration, social security and pensions | 62 | €557,778 | €679,984 | +€122,206 | +21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,498 | €56,983 | +€1,485 | +2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,650 | €5,204 | +€555 | +11.9% |
| Gross operating margin | 9900 | €1,793,687 | €2,428,988 | +€635,301 | +35.4% |
| Operating profit (loss) | 9901 | €1,175,761 | €1,686,817 | +€511,056 | +43.5% |
| Financial income | 75/76B | €55,969 | €57,213 | +€1,244 | +2.2% |
| Recurring financial income | 75 | €55,969 | €57,213 | +€1,244 | +2.2% |
| Financial charges | 65/66B | €4,069 | €6,093 | +€2,025 | +49.8% |
| Recurring financial charges | 65 | €4,069 | €6,093 | +€2,025 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €1,227,661 | €1,737,937 | +€510,276 | +41.6% |
| Income taxes | 67/77 | €310,352 | €383,990 | +€73,639 | +23.7% |
| Profit (loss) for the period | 9904 | €917,310 | €1,353,947 | +€436,637 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €917,310 | €1,353,947 | +€436,637 | +47.6% |
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 9 October 2026 via checked.be.