EUROPOCHETTE: 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.
What changed
EUROPOCHETTE
NACE 17.220, Manufacture of paper and paper products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€13,031
2024 · €33,027-€19,996
Equity
€217,898
2024 · €204,867+€13,031
Cash
€392,485
2024 · €92,710+€299,776
Balance sheet total
€3.1m
2024 · €2.1m+€988,285
Largest movements
Assets
- Tangible fixed assets +€544,652
up €544,652 (+56.0%), from €972,060 to €1.5m
of which Plant, machinery and equipment: +€487,913
- Cash +€299,776
up €299,776 (+323%), from €92,710 to €392,485
mainly Trade debts (+€1.0m) and Debts after one year (+€543,846)
- Stocks and contracts +€73,760
up €73,760 (+13.8%), from €533,402 to €607,161
- Receivables within one year +€53,033
up €53,033 (+10.2%), from €517,828 to €570,861
of which Trade receivables: +€47,070
Equity and liabilities
- Trade debts +€1.0m
up €1.0m (+172%), from €601,145 to €1.6m
- Debts after one year +€543,846
up €543,846 (+133%), from €410,426 to €954,272
- Other debts -€540,996
down €540,996 (-97.7%), from €553,840 to €12,843
- Current portion of long-term debt -€33,655
down €33,655 (-14.0%), from €239,809 to €206,154
Income statement
- Gross operating margin -€44,346
down €44,346 (-6.3%), from €698,880 to €654,534
- Staff costs -€26,845
down €26,845 (-6.8%), from €397,246 to €370,401
- Depreciation +€18,614
up €18,614 (+11.8%), from €158,402 to €177,015
- Other operating charges -€14,642
down €14,642 (-38.9%), from €37,650 to €23,008
- Write-downs +€12,387
up €12,387, from -€2,891 to €9,496
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.
Result 2024
€33,027
Gross operating margin
-€44,346
Staff costs
+€26,845
Depreciation
-€18,614
Write-downs
-€12,387
Other operating charges
+€14,642
Other operating items
+€4,282
Financial income
+€2,624
Financial charges
-€284
Taxes
+€7,242
Result 2025
€13,031
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€519,094
Investment
-€727,542
Financing
+€508,224
Cash 2024
€92,710
From operations (derived)
+€519,094
Net result for the year
+€13,031
Depreciation
+€177,015
Stocks and contracts
-€73,760
Receivables within one year
-€53,033
Deferred charges and accrued income
-€11,189
Trade debts
+€1.0m
Tax, wage and social debts
-€10,967
Advances received
+€7,058
Other debts
-€540,996
Accrued charges and deferred income
-€22,456
Investment (derived)
-€727,542
Investment in fixed assets (net)
-€727,542
Financing
+€508,224
Debts after one year
+€543,846
Current portion of long-term debt
-€33,655
Short-term financial debts
-€1,967
Cash 2025
€392,485
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,133,941 | €3,122,226 | +€988,285 | +46.3% |
| Fixed assets | 21/28 | €972,060 | €1,522,587 | +€550,527 | +56.6% |
| Intangible fixed assets | 21 | - | €5,876 | +€5,876 | |
| Tangible fixed assets | 22/27 | €972,060 | €1,516,712 | +€544,652 | +56.0% |
| Plant, machinery and equipment | 23 | €588,387 | €1,076,300 | +€487,913 | +82.9% |
| Furniture and vehicles | 24 | €130,267 | €99,415 | -€30,852 | -23.7% |
| Leasing and similar rights | 25 | €97,866 | €71,768 | -€26,097 | -26.7% |
| Other tangible fixed assets | 26 | €155,540 | €119,588 | -€35,952 | -23.1% |
| Assets under construction and advance payments | 27 | - | €149,640 | +€149,640 | |
| Current assets | 29/58 | €1,161,881 | €1,599,639 | +€437,758 | +37.7% |
| Stocks and contracts in progress | 3 | €533,402 | €607,161 | +€73,760 | +13.8% |
| Stocks | 30/36 | €533,402 | €607,161 | +€73,760 | +13.8% |
| Amounts receivable within one year | 40/41 | €517,828 | €570,861 | +€53,033 | +10.2% |
| Trade receivables | 40 | €496,696 | €543,766 | +€47,070 | +9.5% |
| Other amounts receivable | 41 | €21,132 | €27,096 | +€5,964 | +28.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €92,710 | €392,485 | +€299,776 | +323% |
| Deferred charges and accrued income | 490/1 | €17,941 | €29,130 | +€11,189 | +62.4% |
| Total equity and liabilities | 10/49 | €2,133,941 | €3,122,226 | +€988,285 | +46.3% |
| Equity | 10/15 | €204,867 | €217,898 | +€13,031 | +6.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €54,867 | €67,898 | +€13,031 | +23.7% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,437 | €6,437 | = | 0.0% |
| Distributable reserves | 133 | €33,430 | €46,461 | +€13,031 | +39.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,929,074 | €2,904,328 | +€975,254 | +50.6% |
| Amounts payable after more than one year | 17 | €410,426 | €954,272 | +€543,846 | +133% |
| Financial debts | 170/4 | €410,426 | €954,272 | +€543,846 | +133% |
| Amounts payable within one year | 42/48 | €1,445,949 | €1,899,813 | +€453,864 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €239,809 | €206,154 | -€33,655 | -14.0% |
| Financial debts | 43 | €1,967 | €0 | -€1,967 | -100% |
| Credit institutions | 430/8 | €1,967 | €0 | -€1,967 | -100% |
| Trade debts | 44 | €601,145 | €1,635,536 | +€1.0m | +172% |
| Suppliers | 440/4 | €601,145 | €1,635,536 | +€1.0m | +172% |
| Advances received on contracts in progress | 46 | - | €7,058 | +€7,058 | |
| Taxes, remuneration and social security | 45 | €49,189 | €38,222 | -€10,967 | -22.3% |
| Taxes | 450/3 | €5 | €0 | -€5 | -100% |
| Remuneration and social security | 454/9 | €49,184 | €38,222 | -€10,962 | -22.3% |
| Other amounts payable | 47/48 | €553,840 | €12,843 | -€540,996 | -97.7% |
| Accrued charges and deferred income | 492/3 | €72,699 | €50,243 | -€22,456 | -30.9% |
| Non-recurring operating income | 76A | €7,238 | €6,762 | -€477 | -6.6% |
| Remuneration, social security and pensions | 62 | €397,246 | €370,401 | -€26,845 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,402 | €177,015 | +€18,614 | +11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,891 | €9,496 | +€12,387 | |
| Other operating charges | 640/8 | €37,650 | €23,008 | -€14,642 | -38.9% |
| Non-recurring operating charges | 66A | €5,092 | €810 | -€4,282 | -84.1% |
| Gross operating margin | 9900 | €698,880 | €654,534 | -€44,346 | -6.3% |
| Operating profit (loss) | 9901 | €103,381 | €73,804 | -€29,578 | -28.6% |
| Financial income | 75/76B | €21,167 | €23,791 | +€2,624 | +12.4% |
| Recurring financial income | 75 | €21,167 | €23,791 | +€2,624 | +12.4% |
| Financial charges | 65/66B | €74,365 | €74,648 | +€284 | +0.4% |
| Recurring financial charges | 65 | €74,365 | €74,648 | +€284 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €50,184 | €22,946 | -€27,238 | -54.3% |
| Income taxes | 67/77 | €17,157 | €9,915 | -€7,242 | -42.2% |
| Profit (loss) for the period | 9904 | €33,027 | €13,031 | -€19,996 | -60.5% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €33,027 | €13,031 | -€19,996 | -60.5% |
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.