ERMAPACK: 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.
ERMAPACK
Largest movements
- Receivables within one year +€23,627
up €23,627 (+15.2%), from €155,309 to €178,936
of which Other amounts receivable: +€12,481
- Cash -€6,405
down €6,405 (-1.7%), from €379,885 to €373,481
mainly Trade debts (-€64,104) and Receivables within one year (-€23,627)
- Reserves +€84,556
up €84,556 (+26.3%), from €321,715 to €406,272
of which Distributable reserves: +€84,556
- Trade debts -€64,104
down €64,104 (-100%), from €64,104 to €0
- Short-term financial debts -€11,038
down €11,038 (-100%), from €11,038 to €0
- Tax, wage and social debts +€6,244
up €6,244 (+6.5%), from €96,515 to €102,759
- Gross operating margin +€42,376
up €42,376 (+50.5%), from €83,974 to €126,350
- Taxes +€10,051
up €10,051 (+37.0%), from €27,183 to €37,234
- Financial charges -€3,788
down €3,788 (-24.0%), from €15,811 to €12,023
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 | €580,135 | €595,793 | +€15,658 | +2.7% |
| Current assets | 29/58 | €580,135 | €595,793 | +€15,658 | +2.7% |
| Stocks and contracts in progress | 3 | €44,941 | €43,377 | -€1,564 | -3.5% |
| Stocks | 30/36 | €44,941 | €43,377 | -€1,564 | -3.5% |
| Amounts receivable within one year | 40/41 | €155,309 | €178,936 | +€23,627 | +15.2% |
| Trade receivables | 40 | €35,448 | €46,595 | +€11,146 | +31.4% |
| Other amounts receivable | 41 | €119,860 | €132,341 | +€12,481 | +10.4% |
| Cash at bank and in hand | 54/58 | €379,885 | €373,481 | -€6,405 | -1.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €580,135 | €595,793 | +€15,658 | +2.7% |
| Equity | 10/15 | €408,478 | €493,034 | +€84,556 | +20.7% |
| Contributions | 10/11 | €86,762 | €86,762 | = | 0.0% |
| Capital | 10 | €86,762 | €86,762 | = | 0.0% |
| Issued capital | 100 | €86,762 | €86,762 | = | 0.0% |
| Reserves | 13 | €321,715 | €406,272 | +€84,556 | +26.3% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,425 | €44,425 | = | 0.0% |
| Distributable reserves | 133 | €268,614 | €353,170 | +€84,556 | +31.5% |
| Amounts payable | 17/49 | €171,657 | €102,759 | -€68,898 | -40.1% |
| Amounts payable within one year | 42/48 | €171,657 | €102,759 | -€68,898 | -40.1% |
| Financial debts | 43 | €11,038 | €0 | -€11,038 | -100% |
| Credit institutions | 430/8 | €11,038 | €0 | -€11,038 | -100% |
| Trade debts | 44 | €64,104 | €0 | -€64,104 | -100% |
| Suppliers | 440/4 | €64,104 | €0 | -€64,104 | -100% |
| Taxes, remuneration and social security | 45 | €96,515 | €102,759 | +€6,244 | +6.5% |
| Taxes | 450/3 | €96,515 | €102,759 | +€6,244 | +6.5% |
| Non-recurring operating income | 76A | €200 | €0 | -€200 | -100% |
| Other operating charges | 640/8 | €898 | €732 | -€165 | -18.4% |
| Gross operating margin | 9900 | €83,974 | €126,350 | +€42,376 | +50.5% |
| Operating profit (loss) | 9901 | €83,077 | €125,618 | +€42,541 | +51.2% |
| Financial income | 75/76B | €8,228 | €8,195 | -€33 | -0.4% |
| Recurring financial income | 75 | €8,228 | €8,195 | -€33 | -0.4% |
| Financial charges | 65/66B | €15,811 | €12,023 | -€3,788 | -24.0% |
| Recurring financial charges | 65 | €15,811 | €12,023 | -€3,788 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €75,494 | €121,790 | +€46,296 | +61.3% |
| Income taxes | 67/77 | €27,183 | €37,234 | +€10,051 | +37.0% |
| Profit (loss) for the period | 9904 | €48,311 | €84,556 | +€36,245 | +75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,311 | €84,556 | +€36,245 | +75.0% |
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 13 October 2026 via checked.be.