Seuropak: 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.
Seuropak
Largest movements
- Cash -€104,418
down €104,418 (-6.8%), from €1.5m to €1.4m
mainly Other debts (-€212,650) and Tax, wage and social debts (-€73,466)
- Tangible fixed assets -€40,421
down €40,421 (-9.0%), from €447,677 to €407,256
of which Land and buildings: -€55,813
- Receivables within one year -€32,802
down €32,802 (-8.6%), from €381,027 to €348,225
- Other debts -€212,650
down €212,650 (-39.1%), from €543,703 to €331,053
- Tax, wage and social debts -€73,466
down €73,466 (-53.9%), from €136,228 to €62,762
of which Taxes: -€91,210
- Trade debts +€37,222
up €37,222 (+10.7%), from €348,193 to €385,415
of which Suppliers: +€85,514
- Reserves +€33,651
up €33,651 (+2.1%), from €1.6m to €1.7m
of which Distributable reserves: +€33,651
- Taxes -€174,858
down €174,858 (-97.4%), from €179,577 to €4,718
- Gross operating margin -€144,975
down €144,975 (-12.3%), from €1.2m to €1.0m
- Staff costs -€22,798
down €22,798 (-3.1%), from €740,814 to €718,016
- Financial charges -€15,428
down €15,428 (-27.9%), from €55,251 to €39,822
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.
Cash bridge derived
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 | €3,208,250 | €3,014,309 | -€193,942 | -6.0% |
| Fixed assets | 21/28 | €738,967 | €698,547 | -€40,421 | -5.5% |
| Tangible fixed assets | 22/27 | €447,677 | €407,256 | -€40,421 | -9.0% |
| Land and buildings | 22 | €383,680 | €327,867 | -€55,813 | -14.5% |
| Plant, machinery and equipment | 23 | €41,438 | €78,014 | +€36,575 | +88.3% |
| Furniture and vehicles | 24 | €22,559 | €1,376 | -€21,183 | -93.9% |
| Financial fixed assets | 28 | €291,290 | €291,290 | = | 0.0% |
| Current assets | 29/58 | €2,469,283 | €2,315,762 | -€153,521 | -6.2% |
| Stocks and contracts in progress | 3 | €396,263 | €394,051 | -€2,212 | -0.6% |
| Stocks | 30/36 | €396,263 | €394,051 | -€2,212 | -0.6% |
| Amounts receivable within one year | 40/41 | €381,027 | €348,225 | -€32,802 | -8.6% |
| Trade receivables | 40 | €381,027 | €348,225 | -€32,802 | -8.6% |
| Cash at bank and in hand | 54/58 | €1,528,386 | €1,423,968 | -€104,418 | -6.8% |
| Deferred charges and accrued income | 490/1 | €163,607 | €149,518 | -€14,088 | -8.6% |
| Total equity and liabilities | 10/49 | €3,208,250 | €3,014,309 | -€193,942 | -6.0% |
| Equity | 10/15 | €2,154,741 | €2,213,925 | +€59,183 | +2.7% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Contributions outside capital | 11 | €123,947 | €123,947 | = | 0.0% |
| Other | 1109/19 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €1,626,583 | €1,660,234 | +€33,651 | +2.1% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €327,073 | €327,073 | = | 0.0% |
| Distributable reserves | 133 | €1,287,115 | €1,320,766 | +€33,651 | +2.6% |
| Profit (loss) carried forward | 14 | €404,212 | €429,744 | +€25,532 | +6.3% |
| Amounts payable | 17/49 | €1,053,509 | €800,384 | -€253,125 | -24.0% |
| Amounts payable within one year | 42/48 | €1,028,124 | €779,230 | -€248,894 | -24.2% |
| Trade debts | 44 | €348,193 | €385,415 | +€37,222 | +10.7% |
| Suppliers | 440/4 | €299,901 | €385,415 | +€85,514 | +28.5% |
| Bills of exchange payable | 441 | €48,292 | - | -€48,292 | |
| Taxes, remuneration and social security | 45 | €136,228 | €62,762 | -€73,466 | -53.9% |
| Taxes | 450/3 | €105,505 | €14,295 | -€91,210 | -86.5% |
| Remuneration and social security | 454/9 | €30,723 | €48,467 | +€17,743 | +57.8% |
| Other amounts payable | 47/48 | €543,703 | €331,053 | -€212,650 | -39.1% |
| Accrued charges and deferred income | 492/3 | €25,385 | €21,154 | -€4,231 | -16.7% |
| Remuneration, social security and pensions | 62 | €740,814 | €718,016 | -€22,798 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,563 | €92,836 | +€1,273 | +1.4% |
| Non-recurring operating charges | 66A | - | €115,607 | +€115,607 | |
| Gross operating margin | 9900 | €1,174,036 | €1,029,061 | -€144,975 | -12.3% |
| Operating profit (loss) | 9901 | €341,659 | €102,602 | -€239,057 | -70.0% |
| Financial income | 75/76B | €1,319 | €1,122 | -€197 | -14.9% |
| Recurring financial income | 75 | €1,319 | €1,122 | -€197 | -14.9% |
| Financial charges | 65/66B | €55,251 | €39,822 | -€15,428 | -27.9% |
| Recurring financial charges | 65 | €55,251 | €39,822 | -€15,428 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €287,727 | €63,902 | -€223,825 | -77.8% |
| Income taxes | 67/77 | €179,577 | €4,718 | -€174,858 | -97.4% |
| Profit (loss) for the period | 9904 | €108,150 | €59,183 | -€48,967 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,150 | €59,183 | -€48,967 | -45.3% |
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 11 October 2026 via checked.be.