GERMAY EMBALLAGES: what changed
What changed
GERMAY EMBALLAGES
NACE 46.900, Non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
€230,176
2025 · €64,549+€165,627
Equity
€819,453
2025 · €591,891+€227,562
Cash
€87,760
2025 · €110,647-€22,887
Balance sheet total
€849,038
2025 · €796,792+€52,246
Largest movements
Assets
- Receivables within one year +€145,922
up €145,922 (+63.6%), from €229,475 to €375,397
of which Trade receivables: +€156,828
- Tangible fixed assets -€60,460
down €60,460 (-32.2%), from €187,487 to €127,027
of which Plant, machinery and equipment: -€56,668
- Cash -€22,887
down €22,887 (-20.7%), from €110,647 to €87,760
mainly Trade debts (-€185,184) and Receivables within one year (-€145,922)
- Stocks and contracts -€15,910
down €15,910 (-6.0%), from €265,511 to €249,602
Equity and liabilities
- Profit (loss) carried forward +€230,176
up €230,176 (+51.8%), from €444,510 to €674,686
- Trade debts -€185,184
down €185,184 (-99.0%), from €187,135 to €1,951
- Tax, wage and social debts +€16,049
new in 2026: €16,049
Income statement
- Gross operating margin +€184,816
up €184,816 (+151%), from €122,015 to €306,831
- Financial income -€35,341
down €35,341 (-93.1%), from €37,972 to €2,631
- Depreciation -€16,916
down €16,916 (-18.3%), from €92,524 to €75,608
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€64,549
Gross operating margin
+€184,816
Staff costs
-€400
Depreciation
+€16,916
Write-downs
-€1,250
Other operating charges
+€333
Financial income
-€35,341
Financial charges
+€553
Result 2026
€230,176
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€5,124
Investment
-€15,148
Financing
-€2,614
Cash 2025
€110,647
From operations (derived)
-€5,124
Net result for the year
+€230,176
Depreciation
+€75,608
Stocks and contracts
+€15,910
Receivables within one year
-€145,922
Deferred charges and accrued income
-€5,580
Trade debts
-€185,184
Tax, wage and social debts
+€16,049
Other debts
-€6,182
Investment (derived)
-€15,148
Investment in fixed assets (net)
-€15,148
Financing
-€2,614
Contributions, distributions and other
-€2,614
Cash 2026
€87,760
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €796,792 | €849,038 | +€52,246 | +6.6% |
| Fixed assets | 21/28 | €187,622 | €127,162 | -€60,460 | -32.2% |
| Tangible fixed assets | 22/27 | €187,487 | €127,027 | -€60,460 | -32.2% |
| Land and buildings | 22 | €7,232 | €5,036 | -€2,196 | -30.4% |
| Plant, machinery and equipment | 23 | €174,707 | €118,039 | -€56,668 | -32.4% |
| Furniture and vehicles | 24 | €5,548 | €3,952 | -€1,596 | -28.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €609,170 | €721,876 | +€112,706 | +18.5% |
| Stocks and contracts in progress | 3 | €265,511 | €249,602 | -€15,910 | -6.0% |
| Stocks | 30/36 | €265,511 | €249,602 | -€15,910 | -6.0% |
| Amounts receivable within one year | 40/41 | €229,475 | €375,397 | +€145,922 | +63.6% |
| Trade receivables | 40 | €218,570 | €375,397 | +€156,828 | +71.8% |
| Other amounts receivable | 41 | €10,906 | - | -€10,906 | |
| Current investments | 50/53 | €536 | €536 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €110,647 | €87,760 | -€22,887 | -20.7% |
| Deferred charges and accrued income | 490/1 | €3,001 | €8,581 | +€5,580 | +186% |
| Total equity and liabilities | 10/49 | €796,792 | €849,038 | +€52,246 | +6.6% |
| Equity | 10/15 | €591,891 | €819,453 | +€227,562 | +38.4% |
| Contributions | 10/11 | €65,500 | €65,500 | = | 0.0% |
| Capital | 10 | €65,500 | €65,500 | = | 0.0% |
| Issued capital | 100 | €65,500 | €65,500 | = | 0.0% |
| Reserves | 13 | €77,050 | €77,050 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,550 | €6,550 | = | 0.0% |
| Legal reserve | 130 | €6,550 | €6,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,500 | €70,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €444,510 | €674,686 | +€230,176 | +51.8% |
| Investment grants | 15 | €4,832 | €2,217 | -€2,614 | -54.1% |
| Amounts payable | 17/49 | €204,901 | €29,585 | -€175,316 | -85.6% |
| Amounts payable within one year | 42/48 | €204,901 | €29,585 | -€175,316 | -85.6% |
| Trade debts | 44 | €187,135 | €1,951 | -€185,184 | -99.0% |
| Suppliers | 440/4 | €187,135 | €1,951 | -€185,184 | -99.0% |
| Taxes, remuneration and social security | 45 | - | €16,049 | +€16,049 | |
| Taxes | 450/3 | - | €16,049 | +€16,049 | |
| Other amounts payable | 47/48 | €17,766 | €11,585 | -€6,182 | -34.8% |
| Remuneration, social security and pensions | 62 | -€400 | - | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,524 | €75,608 | -€16,916 | -18.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,250 | - | +€1,250 | |
| Other operating charges | 640/8 | €2,812 | €2,479 | -€333 | -11.8% |
| Gross operating margin | 9900 | €122,015 | €306,831 | +€184,816 | +151% |
| Operating profit (loss) | 9901 | €28,328 | €228,743 | +€200,415 | +707% |
| Financial income | 75/76B | €37,972 | €2,631 | -€35,341 | -93.1% |
| Recurring financial income | 75 | €37,972 | €2,631 | -€35,341 | -93.1% |
| Financial charges | 65/66B | €1,752 | €1,199 | -€553 | -31.6% |
| Recurring financial charges | 65 | €1,752 | €1,199 | -€553 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €64,549 | €230,176 | +€165,627 | +257% |
| Profit (loss) for the period | 9904 | €64,549 | €230,176 | +€165,627 | +257% |
| Profit (loss) for the period to be appropriated | 9905 | €64,549 | €230,176 | +€165,627 | +257% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.