SCHEPENS VERPAKKINGEN: 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
SCHEPENS VERPAKKINGEN
NACE 17.250, Manufacture of paper and paper products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€67,683
2024 · €26,130-€93,813
Equity
€1.1m
2024 · €1.2m-€67,683
Cash
€68,281
2024 · €52,943+€15,339
Balance sheet total
€3.7m
2024 · €3.3m+€445,872
Largest movements
Assets
- Stocks and contracts +€268,540
up €268,540 (+29.8%), from €902,059 to €1.2m
- Receivables within one year +€108,660
up €108,660 (+13.1%), from €828,407 to €937,067
of which Trade receivables: +€126,634
- Tangible fixed assets +€49,927
up €49,927 (+3.9%), from €1.3m to €1.3m
of which Furniture and vehicles: +€83,024
Equity and liabilities
- Trade debts +€329,455
up €329,455 (+49.1%), from €671,067 to €1.0m
- Tax, wage and social debts +€86,078
up €86,078 (+99.2%), from €86,790 to €172,868
of which Remuneration and social security: +€47,440
- Short-term financial debts +€61,976
up €61,976 (+7.2%), from €858,228 to €920,204
- Revaluation surpluses -€54,400
down €54,400 (-5.7%), from €960,522 to €906,122
Income statement
- Staff costs +€148,794
up €148,794 (+31.7%), from €469,914 to €618,708
- Gross operating margin +€81,486
up €81,486 (+11.0%), from €737,913 to €819,399
- Depreciation +€12,567
up €12,567 (+7.4%), from €170,532 to €183,099
- Financial income -€10,518
down €10,518 (-50.2%), from €20,955 to €10,437
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
€26,130
Gross operating margin
+€81,486
Staff costs
-€148,794
Depreciation
-€12,567
Other operating charges
+€3,481
Other operating items
-€9,164
Financial income
-€10,518
Financial charges
+€2,374
Taxes
-€110
Result 2025
-€67,683
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
+€155,498
Investment
-€233,025
Financing
+€92,865
Cash 2024
€52,943
From operations (derived)
+€155,498
Net result for the year
-€67,683
Depreciation
+€183,099
Stocks and contracts
-€268,540
Receivables within one year
-€108,660
Deferred charges and accrued income
-€3,407
Trade debts
+€329,455
Tax, wage and social debts
+€86,078
Other debts
+€381
Accrued charges and deferred income
+€4,776
Investment (derived)
-€233,025
Investment in fixed assets (net)
-€233,025
Financing
+€92,865
Debts after one year
+€32,508
Current portion of long-term debt
-€1,619
Short-term financial debts
+€61,976
Cash 2025
€68,281
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,297,967 | €3,743,839 | +€445,872 | +13.5% |
| Fixed assets | 21/28 | €1,264,824 | €1,314,751 | +€49,927 | +3.9% |
| Tangible fixed assets | 22/27 | €1,264,824 | €1,314,751 | +€49,927 | +3.9% |
| Land and buildings | 22 | €896,734 | €873,065 | -€23,669 | -2.6% |
| Plant, machinery and equipment | 23 | €119,994 | €174,800 | +€54,806 | +45.7% |
| Furniture and vehicles | 24 | €16,743 | €99,768 | +€83,024 | +496% |
| Leasing and similar rights | 25 | €228,443 | €165,083 | -€63,360 | -27.7% |
| Other tangible fixed assets | 26 | €2,910 | €2,035 | -€875 | -30.1% |
| Current assets | 29/58 | €2,033,142 | €2,429,088 | +€395,945 | +19.5% |
| Amounts receivable after more than one year | 29 | €245,557 | €245,557 | = | 0.0% |
| Other amounts receivable | 291 | €245,557 | €245,557 | = | 0.0% |
| Stocks and contracts in progress | 3 | €902,059 | €1,170,599 | +€268,540 | +29.8% |
| Stocks | 30/36 | €902,059 | €1,170,599 | +€268,540 | +29.8% |
| Amounts receivable within one year | 40/41 | €828,407 | €937,067 | +€108,660 | +13.1% |
| Trade receivables | 40 | €774,341 | €900,975 | +€126,634 | +16.4% |
| Other amounts receivable | 41 | €54,067 | €36,093 | -€17,974 | -33.2% |
| Cash at bank and in hand | 54/58 | €52,943 | €68,281 | +€15,339 | +29.0% |
| Deferred charges and accrued income | 490/1 | €4,177 | €7,583 | +€3,407 | +81.6% |
| Total equity and liabilities | 10/49 | €3,297,967 | €3,743,839 | +€445,872 | +13.5% |
| Equity | 10/15 | €1,154,063 | €1,086,380 | -€67,683 | -5.9% |
| Contributions | 10/11 | €81,000 | €81,000 | = | 0.0% |
| Capital | 10 | €81,000 | €81,000 | = | 0.0% |
| Issued capital | 100 | €81,000 | €81,000 | = | 0.0% |
| Revaluation surpluses | 12 | €960,522 | €906,122 | -€54,400 | -5.7% |
| Reserves | 13 | €112,541 | €99,258 | -€13,283 | -11.8% |
| Non-distributable reserves | 130/1 | €87,924 | €68,373 | -€19,551 | -22.2% |
| Legal reserve | 130 | €8,100 | €8,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €79,824 | €60,273 | -€19,551 | -24.5% |
| Distributable reserves | 133 | €24,617 | €30,885 | +€6,268 | +25.5% |
| Amounts payable | 17/49 | €2,143,904 | €2,657,459 | +€513,555 | +24.0% |
| Amounts payable after more than one year | 17 | €386,752 | €419,260 | +€32,508 | +8.4% |
| Financial debts | 170/4 | €386,752 | €419,260 | +€32,508 | +8.4% |
| Amounts payable within one year | 42/48 | €1,753,923 | €2,230,195 | +€476,272 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €135,913 | €134,294 | -€1,619 | -1.2% |
| Financial debts | 43 | €858,228 | €920,204 | +€61,976 | +7.2% |
| Credit institutions | 430/8 | €858,228 | €920,204 | +€61,976 | +7.2% |
| Trade debts | 44 | €671,067 | €1,000,521 | +€329,455 | +49.1% |
| Suppliers | 440/4 | €671,067 | €1,000,521 | +€329,455 | +49.1% |
| Taxes, remuneration and social security | 45 | €86,790 | €172,868 | +€86,078 | +99.2% |
| Taxes | 450/3 | €46,122 | €84,760 | +€38,638 | +83.8% |
| Remuneration and social security | 454/9 | €40,668 | €88,108 | +€47,440 | +117% |
| Other amounts payable | 47/48 | €1,925 | €2,307 | +€381 | +19.8% |
| Accrued charges and deferred income | 492/3 | €3,229 | €8,004 | +€4,776 | +148% |
| Remuneration, social security and pensions | 62 | €469,914 | €618,708 | +€148,794 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,532 | €183,099 | +€12,567 | +7.4% |
| Other operating charges | 640/8 | €14,740 | €11,258 | -€3,481 | -23.6% |
| Non-recurring operating charges | 66A | - | €9,164 | +€9,164 | |
| Gross operating margin | 9900 | €737,913 | €819,399 | +€81,486 | +11.0% |
| Operating profit (loss) | 9901 | €82,728 | -€2,831 | -€85,559 | |
| Financial income | 75/76B | €20,955 | €10,437 | -€10,518 | -50.2% |
| Recurring financial income | 75 | €20,955 | €10,437 | -€10,518 | -50.2% |
| Financial charges | 65/66B | €77,217 | €74,843 | -€2,374 | -3.1% |
| Recurring financial charges | 65 | €77,217 | €74,843 | -€2,374 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €26,466 | -€67,237 | -€93,703 | |
| Income taxes | 67/77 | €336 | €447 | +€110 | +32.8% |
| Profit (loss) for the period | 9904 | €26,130 | -€67,683 | -€93,813 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,130 | -€67,683 | -€93,813 |
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 1 November 2026 via checked.be.