Bayer
ActiveFinancials · financial year 2025, full format, standalone accounts
Annual accounts 2025 filed on 24-06-2026 at the NBB Consolidated accounts 2025 at the NBB all 64 filings
Turnover
€175.2m▼ 24.6%
2023 · €232.4m
EBIT margin
3.3%▼ 1.3pp
2023 · 4.6%
Net result
€3.4m▼ 47.1%
2023 · €6.5m
Working capital
€82.1m▲ 11.4%
2023 · €73.7m
In the rankings
#1 company by equity in Belgium, Chemicals sector#1 company by total assets in Flemish Brabant, Manufacturing sector#4 oldest company in Machelen, Manufacturing sector
Multi-year overview
2018 to 2025, 6 financial yearsTurnover
€175.2m
2025
20182025
Operating result
€5.8m
2025
20182025
Net result
€3.4m
2025
highest quarter of the sector
20182025
EBIT margin
3.3%
2025
20182025
Equity
€5.53bn
2025
highest quarter of the sector
20182025
Total assets
€5.56bn
2025
highest quarter of the sector
20182025
Debt
€22.5m
2025
20182025
Working capital
€82.1m
2025
highest quarter of the sector
20182025
Solvency
99.6%
2025
highest quarter of the sector
20182025
Current ratio
4.65
2025
highest quarter of the sector
20182025
Return on assets (ROA)
0.1%
2025
middle half of the sector
20182025
Staff (FTE)
153.9
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192021202220232025
Turnover€216.0m-€218.6m▲ 1.2%€206.6m-€219.5m▲ 6.2%€232.4m▲ 5.9%€175.2m-
Operating result€11.3m-€10.9m▼ 3.7%€10.6m-€6.4m▼ 39.1%€10.6m▲ 64.2%€5.8m-
Net result€79.8m-€21.6m▼ 73.0%€6.8mabove the sector's middle half-€5.4mabove the sector's middle half▼ 20.6%€6.5mabove the sector's middle half▲ 20.2%€3.4mabove the sector's middle half-
EBIT margin5.3%-5.0%▼ 0.3pp5.1%-2.9%▼ 2.2pp4.6%▲ 1.6pp3.3%-
Equity€11,853.3m-€11,874.9m▲ 0.2%€11,762.8mabove the sector's middle half-€11,768.1mabove the sector's middle half=€11,774.6mabove the sector's middle half▲ 0.1%€5,534.2mabove the sector's middle half-
Total assets€12,022.0m-€11,915.2m▼ 0.9%€11,948.7mabove the sector's middle half-€11,847.7mabove the sector's middle half▼ 0.8%€11,859.0mabove the sector's middle half▲ 0.1%€5,558.7mabove the sector's middle half-
Debt€166.7m-€38.0m▼ 77.2%€182.8m-€66.7m▼ 63.5%€82.1m▲ 23.1%€22.5m-
Working capital€6,850.6m-€163.1m▼ 97.6%€53.2mabove the sector's middle half-€69.2mabove the sector's middle half▲ 29.9%€73.7mabove the sector's middle half▲ 6.6%€82.1mabove the sector's middle half-
Solvency98.6%-99.7%▲ 1.1pp98.4%above the sector's middle half-99.3%above the sector's middle half▲ 0.9pp99.3%above the sector's middle half=99.6%above the sector's middle half-
Current ratio44.88-5.31▼ 39.571.29within the sector's middle half-2.04within the sector's middle half▲ 0.751.90within the sector's middle half▼ 0.144.65above the sector's middle half-
Return on assets (ROA)0.7%-0.2%▼ 0.5pp0.1%below the sector's middle half-0.0%below the sector's middle half=0.1%within the sector's middle half=0.1%within the sector's middle half-
Staff (FTE)264.1-253.8▼ 3.9%226.2above the sector's middle half-214.9above the sector's middle half▼ 5.0%183.2above the sector's middle half▼ 14.8%153.9above the sector's middle half-
above
within
below
The sector band is the middle half of the companies in Manufacture of chemicals and chemical products (NACE 20). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is €5.8m, against €10.6m in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €5.56bn
Fixed assets
€5.45bn ▼ 53.4%
Current assets
€104.6m ▼ 32.8%
Equity and liabilities €5.56bn
Equity
€5.53bn ▼ 53.0%
Provisions
€2.0m ▼ 15.2%
Debt
€22.5m ▼ 72.5%
Debt's share of the balance-sheet total falls from 0.7% to 0.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5.9m▼
2023 · €11.3m
Cash flow
€3.6m▼
2023 · €7.1m
Quick ratio
3.42▲
2023 · 1.28
Debt to equity
0.00▼
2023 · 0.01
ROE
0.1%▲
2023 · 0.1%
Interest coverage
14.64▲
2023 · 14.09
Debt ≤ 1 year
€22.5m▼
2023 · €82.1m
Income taxes
€2.0m▼
2023 · €3.6m
Customer credit
111 days▼
2023 · 133 days
Supplier credit
36 days▼
2023 · 41 days
Staff costs
€36.3m▼
2023 · €41.2m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 231 | 216 | 183 | 169 | 152 |
| full-time | 195 | 177 | 144 | 125 | 119 |
| part-time | 36 | 39 | 39 | 44 | 33 |
| in full-time equivalents | 223.8 | 208.6 | 176.4 | 161.6 | 146.1 |
| Average over the year, in full-time equivalents | 226.2 | 214.9 | 183.2 | 169.3 | 153.9 |
| On a permanent contract | 229 | 214 | 182 | 169 | 152 |
| Joined | 7 | 4 | 20 | 13 | 9 |
| Left | 12 | 19 | 53 | 27 | 26 |
| Agency workers, average number | 2.5 | 2.8 | 0.9 | 0.4 | 0.5 |
| Training hours | 4,043 | 7,942 | 6,420 | 2,258 | 2,750 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €34,944 | €59,198 | €105,425 | €31,584 |
| Depreciation and write-downs of the year | €813,797 | €748,956 | €673,815 | €166,485 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2025 |
|---|---|---|---|---|
| Fee for the audit | €81,600 | €87,720 | €93,860 | €96,680 |
| Other work by the auditor | - | €900 | €700 | €757 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €9,720 awarded · €9,720 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €3,240 | €3,240 |
| 2023 | 1 | €5,649 | €5,649 |
| 2022 | 1 | €831 | €831 |
Schemes
European research
1 projectProgrammes
Projects
FORTIFY - FRAMEWORK FOR OPTIMIZED REGULATION, TRADE SECRETS, AND INTELLECTUAL PROPERTY IN A FEDERATED EUROPEAN HEALTH DATA SPACE
Public contracts
18 awards · 2023 to 2026
Raamovereenkomst voor aankoop en levering van contrastinjectoren: Contrastinjectoren voor cathlab en andere diensten
Raamovereenkomst voor de levering van contrastmiddelen: Paramagnetische contrastmiddelen met macrocyclische molecuulstructuur voor gebruik bij MRI onderzoeken 1 mmol/ml
Raamovereenkomst voor de levering van contrastmiddelen: Jodiumhoudende niet-ionische contrastmiddelen monomeer - concentratie = 300 mg/ml
Raamovereenkomst voor de levering van contrastmiddelen: Jodiumhoudende niet-ionische contrastmiddelen monomeer - concentratie > 350 mg/ml
Accord-cadre ayant pour objet la fourniture de produits de contraste iodés et d'agents de diagnostic par résonance magnétique: Monomères non ioniques à faible osmolalité, concentration de 300 mg/ml (uniquement petits conditionnements de 10 et 20 ml)
Show 13 more contracts
Accord-cadre ayant pour objet la fourniture de produits de contraste iodés et d'agents de diagnostic par résonance magnétique: Monomères non ioniques à faible osmolalité, concentration de 300 mg/ml (conditionnements de 50 ml, 100 ml, 150 à 200 ml et 500 ml)
Accord-cadre ayant pour objet la fourniture de produits de contraste iodés et d'agents de diagnostic par résonance magnétique: Monomères non ioniques à faible osmolalité, concentration de 370 mg/ml (conditionnements de 50 ml, 100 ml, 200 ml et 500 ml)
Accord-cadre ayant pour objet la fourniture de produits de contraste iodés et d'agents de diagnostic par résonance magnétique: Monomères non ioniques à faible osmolalité, concentration de 370 à 400 mg/ml (conditionnements de 100 ml, 200 ml et 500 ml)
Accord-cadre ayant pour objet la fourniture de produits de contraste iodés et d'agents de diagnostic par résonance magnétique: Dérivés du gadolinium cycliques extracellulaires, concentration de 1 mmole/ml
Produits de contraste à visée radiologique: Dérivé de gadolinium macrocyclique 1 mmole/ml
Produits de contraste à visée radiologique: Produit iodé - monomère non ionique - faible osmolalité - 370 mg/ml
Contrastmiddelen: Paramagnetische contrastmiddelen met macrocyclische molecuulstructuur voor IV gebruik bij MRI onderzoeken 1 mmol/ml
Raamovereenkomst voor de levering van Xofigo
Aflibercept (eylea)
Contraststoffen: paramagnetische contraststoffen in voorgevulde spuit 1mmol
Contraststoffen: jodiumhoudend niet ionisch monomeer met lage osmolaliteit - 300mg/ml - volumes 10ml en 20ml
Centrale d'achat FHL: fourniture de produits de contraste.: Triiodés non ioniques, 300 mg d'iode/ml
Accord-cadre relatif à la fourniture de produits de contraste pour les besoins des pharmacies de Vivalia, agissant en Centrale d’achats: Dérivé du gadolinium cyclique à distribution extracellulaire 1 mmole/ml en seringue
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €226.8m | €255.1m | €262.5m | €202.4m | - |
| Turnover70 | €216.0m | €218.6m | €206.6m | €219.5m | €232.4m | €175.2m | - |
| Other operating income74 | - | - | €20.2m | €35.4m | €28.0m | €27.2m | - |
| Non-recurring operating income76A | - | - | - | €0.2m | €2.0m | - | - |
| Operating charges60/66A | - | - | €216.3m | €248.7m | €251.9m | €196.6m | - |
| Goods for resale, raw materials and consumables60 | - | - | €89.4m | €101.3m | €103.7m | €84.8m | - |
| Purchases600/8 | - | - | €81.5m | €104.0m | €107.9m | €74.7m | - |
| Change in stocks: decrease (increase)609 | - | - | €7.9m | -€2.7m | -€4.3m | €10.1m | - |
| Services and other goods61 | - | - | €22.8m | €25.4m | €26.2m | €23.0m | - |
| Remuneration, social security and pensions62 | - | - | €36.8m | €35.9m | €41.2m | €36.3m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.2m | €1.1m | €0.8m | €0.7m | €0.7m | €0.2m | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €3.9m | -€2.9m | -€0.8m | €7.8m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€1.9m | €9.8m | -€10.0m | -€1.5m | - |
| Other operating charges640/8 | - | - | €64.4m | €78.3m | €90.9m | €46.1m | - |
| Non-recurring operating charges66A | - | - | - | - | €0.03m | - | - |
| Operating profit (loss)9901 | €11.3m | €10.9m | €10.6m | €6.4m | €10.6m | €5.8m | - |
| Financial income75/76B | - | - | €5.5m | €1.3m | €0.06m | €0.2m | - |
| Recurring financial income75 | €883.9m | €382.4m | €5.5m | €1.3m | €0.06m | €0.2m | - |
| Income from financial fixed assets750 | - | - | - | €1.0m | - | - | - |
| Income from current assets751 | - | - | €2.2m | €0.3m | €0.06m | €0.2m | - |
| Other financial income752/9 | - | - | €3.3m | €0.005m | €0.001m | €0.001m | - |
| Financial charges65/66B | - | - | €6.3m | €0.8m | €1.2m | €0.6m | - |
| Recurring financial charges65 | €778.4m | €362.9m | €6.3m | €0.8m | €1.2m | €0.6m | - |
| Debt charges650 | €66.9m | €112.8m | €0.2m | €0.2m | €0.8m | €0.4m | - |
| Other financial charges652/9 | - | - | €6.1m | €0.6m | €0.4m | €0.2m | - |
| Profit (loss) for the period before taxes9903 | €117.0m | €30.5m | €9.8m | €7.0m | €9.5m | €5.4m | - |
| Transfer from deferred taxes780 | - | - | €0.04m | €0.04m | €0.7m | - | - |
| Income taxes67/77 | €37.2m | €9.0m | €3.1m | €1.6m | €3.6m | €2.0m | - |
| Taxes670/3 | - | - | €3.1m | €2.1m | €3.6m | €2.0m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.5m | - | - | - |
| Profit (loss) for the period9904 | €79.8m | €21.6m | €6.8m | €5.4m | €6.5m | €3.4m | - |
| Transfer from tax-exempt reserves789 | - | - | €0.1m | €0.1m | €2.0m | - | - |
| Profit (loss) for the period to be appropriated9905 | €79.9m | €21.7m | €6.9m | €5.5m | €8.5m | €3.4m | - |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €12,022.0m | €11,915.2m | €11,948.7m | €11,847.7m | €11,859.0m | €5,558.7m | - |
| Fixed assets21/28 | €5,015.2m | €11,714.2m | €11,712.7m | €11,712.0m | €11,703.2m | €5,454.1m | - |
| Intangible fixed assets21 | €0.03m | €0.01m | - | - | - | - | - |
| Tangible fixed assets22/27 | €13.2m | €12.1m | €10.3m | €9.6m | €0.2m | €1.2m | - |
| Land and buildings22 | - | - | €10.2m | €9.5m | €0.02m | - | - |
| Plant, machinery and equipment23 | - | - | €0.004m | €0.01m | €0.06m | €0.05m | - |
| Furniture and vehicles24 | - | - | €0.1m | €0.1m | €0.06m | €0.2m | - |
| Other tangible fixed assets26 | - | - | - | - | - | €0.9m | - |
| Assets under construction and advance payments27 | - | - | - | €0.04m | €0.09m | €0.01m | - |
| Financial fixed assets28 | €5,002.0m | €11,702.0m | €11,702.4m | €11,702.3m | €11,703.0m | €5,452.9m | - |
| Affiliated companies280/1 | - | - | €11,701.8m | €11,701.8m | €11,701.8m | €5,451.8m | - |
| Participating interests280 | - | - | €11,701.8m | €11,701.8m | €11,701.8m | €5,451.8m | - |
| Other financial fixed assets284/8 | - | - | €0.6m | €0.5m | €1.2m | €1.1m | - |
| Amounts receivable and cash guarantees285/8 | - | - | €0.6m | €0.5m | €1.2m | €1.1m | - |
| Current assets29/58 | €7,006.8m | €201.0m | €236.0m | €135.8m | €155.8m | €104.6m | - |
| Stocks and contracts in progress3 | €32.3m | €34.5m | €39.9m | €45.5m | €50.5m | €27.8m | - |
| Stocks30/36 | - | - | €39.9m | €45.5m | €50.5m | €27.8m | - |
| Goods purchased for resale34 | - | - | €39.9m | €45.5m | €50.5m | €27.8m | - |
| Amounts receivable within one year40/41 | €6,838.8m | €59.7m | €83.0m | €90.3m | €105.3m | €76.8m | - |
| Trade receivables40 | - | - | €53.2m | €63.1m | €84.6m | €53.4m | - |
| Other amounts receivable41 | - | - | €29.9m | €27.2m | €20.7m | €23.4m | - |
| Current investments50/53 | - | €42.0m | €113.0m | - | - | - | - |
| Other investments51/53 | - | - | €113.0m | - | - | - | - |
| Cash at bank and in hand54/58 | €0.07m | €0.006m | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €0.002m | - | - | €0.001m | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €12,022.0m | €11,915.2m | €11,948.7m | €11,847.7m | €11,859.0m | €5,558.7m | - |
| Equity10/15 | €11,853.3m | €11,874.9m | €11,762.8m | €11,768.1m | €11,774.6m | €5,534.2m | - |
| Contributions10/11 | €6,980.0m | €6,980.0m | €8,089.6m | €8,089.6m | €8,089.6m | €952.6m | - |
| Capital10 | - | - | €6,980.0m | €6,980.0m | €6,980.0m | €0.06m | - |
| Issued capital100 | - | - | €6,980.0m | €6,980.0m | €6,980.0m | €0.06m | - |
| Contributions outside capital11 | - | - | €1,109.6m | €1,109.6m | €1,109.6m | €952.5m | - |
| Share premium1100/10 | - | - | €1,109.6m | €1,109.6m | €1,109.6m | €952.5m | - |
| Reserves13 | €3,763.7m | €3,785.3m | €3,673.2m | €3,678.6m | €3,685.0m | €4,581.6m | - |
| Non-distributable reserves130/1 | - | - | €131.8m | €132.0m | €132.5m | €0.2m | - |
| Legal reserve130 | - | - | €131.5m | €131.8m | €132.2m | €0.006m | - |
| Other1319 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - |
| Tax-exempt reserves132 | - | - | €2.7m | €2.6m | €0.6m | €0.6m | - |
| Distributable reserves133 | - | - | €3,538.7m | €3,543.9m | €3,552.0m | €4,580.7m | - |
| Profit (loss) carried forward14 | - | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | €2.0m | €2.4m | €3.2m | €13.0m | €2.3m | €2.0m | - |
| Provisions for liabilities and charges160/5 | - | - | €2.5m | €12.3m | €2.3m | €2.0m | - |
| Other liabilities and charges164/5 | - | - | €2.5m | €12.3m | €2.3m | €2.0m | - |
| Deferred taxes168 | - | - | €0.7m | €0.7m | - | - | - |
| Amounts payable17/49 | €166.7m | €38.0m | €182.8m | €66.7m | €82.1m | €22.5m | - |
| Amounts payable within one year42/48 | €156.1m | €37.9m | €182.7m | €66.6m | €82.1m | €22.5m | - |
| Trade debts44 | €9.1m | €14.9m | €7.8m | €7.9m | €11.7m | €8.4m | - |
| Suppliers440/4 | - | - | €7.8m | €7.9m | €11.7m | €8.4m | - |
| Advances received on contracts in progress46 | - | - | €0.05m | €0.2m | €0.02m | €0.004m | - |
| Taxes, remuneration and social security45 | - | - | €29.9m | €12.1m | €11.3m | €13.5m | - |
| Taxes450/3 | - | - | €18.9m | €2.2m | €5.1m | €5.1m | - |
| Remuneration and social security454/9 | - | - | €10.9m | €9.9m | €6.2m | €8.4m | - |
| Other amounts payable47/48 | - | - | €145.0m | €46.5m | €59.0m | €0.6m | - |
| Accrued charges and deferred income492/3 | - | - | €0.07m | €0.02m | €0.02m | €0.07m | - |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79.8m | €21.6m | €6.8m | €5.4m | €6.5m | €3.4m | - |
| + Depreciation and write-downs630 | €1.2m | €1.1m | €0.8m | €0.7m | €0.7m | €0.2m | - |
| Operating cash flow (approximation) | €81.0m | €22.7m | €7.6m | €6.1m | €7.1m | €3.6m | - |
| Investment in fixed assets (approximation) | - | -€6,700.0m | - | €0.03m | €8.1m | - | - |
| Change in cash | - | -€0.06m | - | - | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 64 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | consolidated | 26-06-2026 | 2026-00229640 | |
| 31-12-2025 | full format | 24-06-2026 | 2026-00199642 | |
| 31-12-2024 | unclassified schema | 18-06-2025 | 2025-00160402 | |
| 31-12-2024 | full format | 16-06-2025 | 2025-00154661 | |
| 31-12-2023 | full format | 12-02-2025 | 2025-00033589 | |
| 31-12-2023 | unclassified schema | 21-06-2024 | 2024-00173020 | |
| 31-12-2022 | full format | 06-06-2023 | 2023-00111908 | |
| 31-12-2022 | unclassified schema | 06-06-2023 | 2023-00112224 | |
| 31-12-2021 | consolidated | 10-06-2022 | 2022-20062218 | |
| 31-12-2021 | full format | 09-06-2022 | 2022-20059369 |