Greif Packaging Belgium: 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.
Greif Packaging Belgium
Largest movements
- Cash -€51,825
no longer reported in 2025 (was €51,825)
- Receivables within one year -€37,200
down €37,200 (-57.4%), from €64,827 to €27,627
of which Trade receivables: -€36,851
- Tangible fixed assets -€12,944
down €12,944 (-11.1%), from €116,235 to €103,291
- Profit (loss) carried forward -€90,835
down €90,835 (-5.9%), from -€1.6m to -€1.6m
- Trade debts -€50,212
down €50,212 (-77.3%), from €64,966 to €14,754
- Other debts +€29,020
up €29,020 (+7.3%), from €400,115 to €429,135
- Provisions +€19,497
up €19,497 (+2.7%), from €721,503 to €741,000
- Tax, wage and social debts -€9,439
down €9,439 (-58.6%), from €16,119 to €6,680
- Provisions +€164,167
up €164,167, from -€71,868 to €92,299
- Turnover -€99,585
down €99,585 (-92.8%), from €107,369 to €7,784
- Goods and materials -€81,451
down €81,451 (-98.1%), from €83,017 to €1,566
- Services and other goods -€39,504
down €39,504 (-44.8%), from €88,152 to €48,648
- Other operating income -€17,500
down €17,500 (-8.3%), from €210,000 to €192,500
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,887 | €130,918 | -€101,969 | -43.8% |
| Fixed assets | 21/28 | €116,235 | €103,291 | -€12,944 | -11.1% |
| Tangible fixed assets | 22/27 | €116,235 | €103,291 | -€12,944 | -11.1% |
| Land and buildings | 22 | €116,235 | €103,291 | -€12,944 | -11.1% |
| Current assets | 29/58 | €116,652 | €27,627 | -€89,025 | -76.3% |
| Amounts receivable within one year | 40/41 | €64,827 | €27,627 | -€37,200 | -57.4% |
| Trade receivables | 40 | €55,432 | €18,581 | -€36,851 | -66.5% |
| Other amounts receivable | 41 | €9,395 | €9,046 | -€349 | -3.7% |
| Cash at bank and in hand | 54/58 | €51,825 | - | -€51,825 | |
| Total equity and liabilities | 10/49 | €232,887 | €130,918 | -€101,969 | -43.8% |
| Equity | 10/15 | -€969,816 | -€1,060,651 | -€90,835 | -9.4% |
| Contributions | 10/11 | €171,807 | €171,807 | -€0 | 0.0% |
| Capital | 10 | €171,807 | - | -€171,807 | |
| Issued capital | 100 | €171,807 | - | -€171,807 | |
| Reserves | 13 | €409,482 | €409,482 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €409,482 | - | -€409,482 | |
| Legal reserve | 130 | €390,352 | - | -€390,352 | |
| Other | 1319 | €19,130 | - | -€19,130 | |
| Distributable reserves | 133 | - | €409,482 | +€409,482 | |
| Profit (loss) carried forward | 14 | -€1,551,105 | -€1,641,940 | -€90,835 | -5.9% |
| Provisions and deferred taxes | 16 | €721,503 | €741,000 | +€19,497 | +2.7% |
| Provisions for liabilities and charges | 160/5 | €721,503 | €741,000 | +€19,497 | +2.7% |
| Other liabilities and charges | 164/5 | €721,503 | €741,000 | +€19,497 | +2.7% |
| Amounts payable | 17/49 | €481,200 | €450,569 | -€30,631 | -6.4% |
| Amounts payable within one year | 42/48 | €481,200 | €450,569 | -€30,631 | -6.4% |
| Trade debts | 44 | €64,966 | €14,754 | -€50,212 | -77.3% |
| Suppliers | 440/4 | €64,966 | €14,754 | -€50,212 | -77.3% |
| Taxes, remuneration and social security | 45 | €16,119 | €6,680 | -€9,439 | -58.6% |
| Taxes | 450/3 | €16,119 | €6,680 | -€9,439 | -58.6% |
| Other amounts payable | 47/48 | €400,115 | €429,135 | +€29,020 | +7.3% |
| Operating income | 70/76A | €317,369 | €200,284 | -€117,085 | -36.9% |
| Turnover | 70 | €107,369 | €7,784 | -€99,585 | -92.8% |
| Other operating income | 74 | €210,000 | €192,500 | -€17,500 | -8.3% |
| Operating charges | 60/66A | €256,901 | €297,855 | +€40,954 | +15.9% |
| Goods for resale, raw materials and consumables | 60 | €83,017 | €1,566 | -€81,451 | -98.1% |
| Purchases | 600/8 | €83,017 | €1,566 | -€81,451 | -98.1% |
| Services and other goods | 61 | €88,152 | €48,648 | -€39,504 | -44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,194 | €3,765 | -€2,429 | -39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,120 | -€5,120 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€71,868 | €92,299 | +€164,167 | |
| Other operating charges | 640/8 | €151,406 | €156,696 | +€5,290 | +3.5% |
| Operating profit (loss) | 9901 | €60,468 | -€97,570 | -€158,038 | |
| Financial charges | 65/66B | €557 | €537 | -€20 | -3.6% |
| Recurring financial charges | 65 | €557 | €537 | -€20 | -3.6% |
| Other financial charges | 652/9 | €557 | €537 | -€20 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €59,911 | -€98,108 | -€158,019 | |
| Income taxes | 67/77 | €14,338 | €6,662 | -€7,676 | -53.5% |
| Taxes | 670/3 | €16,119 | €6,662 | -€9,457 | -58.7% |
| Tax adjustments and reversals of tax provisions | 77 | €1,781 | - | -€1,781 | |
| Profit (loss) for the period | 9904 | €45,573 | -€104,769 | -€150,342 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,573 | -€104,769 | -€150,342 |
Source: filed annual accounts (NBB), financial years ended 31 October 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.