EMBALLAGES GRUSELLE: 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.
EMBALLAGES GRUSELLE
Largest movements
- Receivables within one year -€33,733
down €33,733 (-27.4%), from €123,010 to €89,277
of which Trade receivables: -€53,179
- Financial fixed assets -€26,696
no longer reported in 2025 (was €26,696)
- Cash -€8,828
down €8,828 (-30.3%), from €29,103 to €20,275
mainly Trade debts (-€54,504) and Net result for the year (-€16,465)
- Deferred charges and accrued income -€5,975
down €5,975 (-38.5%), from €15,517 to €9,541
- Stocks and contracts -€5,233
down €5,233 (-24.7%), from €21,202 to €15,969
- Trade debts -€54,504
down €54,504 (-52.6%), from €103,638 to €49,134
- Profit (loss) carried forward -€16,465
down €16,465 (-19.4%), from -€84,905 to -€101,370
- Tax, wage and social debts -€12,619
down €12,619 (-23.6%), from €53,548 to €40,929
of which Remuneration and social security: -€10,917
- Short-term financial debts +€11,500
up €11,500 (+8.2%), from €140,057 to €151,557
- Debts after one year -€5,040
down €5,040 (-23.5%), from €21,420 to €16,380
- Gross operating margin -€12,539
down €12,539 (-9.3%), from €134,125 to €121,586
- Staff costs -€11,493
down €11,493 (-9.5%), from €120,907 to €109,414
- Taxes -€1,646
down €1,646 (-72.3%), from €2,276 to €631
- Depreciation +€1,410
up €1,410 (+41.1%), from €3,434 to €4,844
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 | €497,732 | €420,638 | -€77,093 | -15.5% |
| Fixed assets | 21/28 | €308,900 | €285,577 | -€23,323 | -7.6% |
| Intangible fixed assets | 21 | - | €2,997 | +€2,997 | |
| Tangible fixed assets | 22/27 | €282,204 | €282,580 | +€376 | +0.1% |
| Land and buildings | 22 | €281,435 | €281,975 | +€539 | +0.2% |
| Furniture and vehicles | 24 | €769 | €605 | -€163 | -21.3% |
| Financial fixed assets | 28 | €26,696 | - | -€26,696 | |
| Current assets | 29/58 | €188,832 | €135,061 | -€53,770 | -28.5% |
| Stocks and contracts in progress | 3 | €21,202 | €15,969 | -€5,233 | -24.7% |
| Stocks | 30/36 | €21,202 | €15,969 | -€5,233 | -24.7% |
| Amounts receivable within one year | 40/41 | €123,010 | €89,277 | -€33,733 | -27.4% |
| Trade receivables | 40 | €119,998 | €66,819 | -€53,179 | -44.3% |
| Other amounts receivable | 41 | €3,012 | €22,458 | +€19,446 | +646% |
| Cash at bank and in hand | 54/58 | €29,103 | €20,275 | -€8,828 | -30.3% |
| Deferred charges and accrued income | 490/1 | €15,517 | €9,541 | -€5,975 | -38.5% |
| Total equity and liabilities | 10/49 | €497,732 | €420,638 | -€77,093 | -15.5% |
| Equity | 10/15 | €172,546 | €156,081 | -€16,465 | -9.5% |
| Contributions | 10/11 | €45,451 | €45,451 | = | 0.0% |
| Revaluation surpluses | 12 | €212,000 | €212,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,905 | -€101,370 | -€16,465 | -19.4% |
| Amounts payable | 17/49 | €325,185 | €264,557 | -€60,628 | -18.6% |
| Amounts payable after more than one year | 17 | €21,420 | €16,380 | -€5,040 | -23.5% |
| Financial debts | 170/4 | €21,420 | €16,380 | -€5,040 | -23.5% |
| Amounts payable within one year | 42/48 | €303,543 | €247,995 | -€55,547 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €6,300 | €6,300 | = | 0.0% |
| Financial debts | 43 | €140,057 | €151,557 | +€11,500 | +8.2% |
| Credit institutions | 430/8 | €140,057 | €151,557 | +€11,500 | +8.2% |
| Trade debts | 44 | €103,638 | €49,134 | -€54,504 | -52.6% |
| Suppliers | 440/4 | €103,638 | €49,134 | -€54,504 | -52.6% |
| Taxes, remuneration and social security | 45 | €53,548 | €40,929 | -€12,619 | -23.6% |
| Taxes | 450/3 | €16,549 | €14,848 | -€1,701 | -10.3% |
| Remuneration and social security | 454/9 | €36,999 | €26,082 | -€10,917 | -29.5% |
| Other amounts payable | 47/48 | - | €75 | +€75 | |
| Accrued charges and deferred income | 492/3 | €222 | €182 | -€40 | -18.2% |
| Non-recurring operating income | 76A | €5,785 | - | -€5,785 | |
| Remuneration, social security and pensions | 62 | €120,907 | €109,414 | -€11,493 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,434 | €4,844 | +€1,410 | +41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €612 | +€612 | |
| Other operating charges | 640/8 | €6,499 | €6,642 | +€144 | +2.2% |
| Gross operating margin | 9900 | €134,125 | €121,586 | -€12,539 | -9.3% |
| Operating profit (loss) | 9901 | €3,286 | €73 | -€3,213 | -97.8% |
| Financial income | 75/76B | €907 | €5 | -€901 | -99.4% |
| Recurring financial income | 75 | €907 | €5 | -€901 | -99.4% |
| Financial charges | 65/66B | €16,037 | €15,913 | -€123 | -0.8% |
| Recurring financial charges | 65 | €16,037 | €15,913 | -€123 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,845 | -€15,835 | -€3,990 | -33.7% |
| Income taxes | 67/77 | €2,276 | €631 | -€1,646 | -72.3% |
| Profit (loss) for the period | 9904 | -€14,121 | -€16,465 | -€2,344 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,121 | -€16,465 | -€2,344 | -16.6% |
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 26 October 2026 via checked.be.