2PHARMA: what changed
Two fiscal 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
2PHARMA
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€120,628
2024 · €83,988+€36,640
Equity
€779,467
2024 · €658,838+€120,629
Cash
€756
2024 · €3,310-€2,554
Balance sheet total
€1.1m
2024 · €923,259+€199,522
Largest movements
Assets
- Receivables within one year +€226,299
up €226,299 (+30.3%), from €748,074 to €974,373
of which Other amounts receivable: +€168,716
- Stocks and contracts -€152,941
down €152,941 (-89.0%), from €171,782 to €18,841
of which Stocks: -€152,941
- Deferred charges and accrued income +€128,718
up €128,718 (+138406.1%), from €93 to €128,811
Equity and liabilities
- Profit (loss) carried forward +€120,629
up €120,629 (+87.3%), from -€138,153 to -€17,524
- Tax, wage and social debts +€48,915
up €48,915 (+265.7%), from €18,410 to €67,325
of which Taxes: +€48,915
- Trade debts +€36,267
up €36,267 (+15.1%), from €239,722 to €275,989
of which Suppliers: +€36,267
Income statement
- Purchases and services -€1.3m
no longer reported in 2025 (was €1.3m)
- Turnover -€1.3m
no longer reported in 2025 (was €1.3m)
- Gross operating margin +€296,469
up €296,469, from -€251 to €296,218
- Write-downs +€189,915
up €189,915, from -€139,564 to €50,351
- Other operating charges +€50,774
up €50,774 (+153.8%), from €33,015 to €83,789
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
€83,988
Gross operating margin
+€296,469
Write-downs
-€189,915
Other operating charges
-€50,774
Other operating items
-€103
Financial income
+€392
Financial charges
+€6,168
Taxes
-€25,596
Result 2025
€120,628
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.
From operations
-€2,554
Investment
€0
Financing
+€0
Cash 2024
€3,310
From operations (derived)
-€2,554
Net result for the year
+€120,628
Stocks and contracts
+€152,941
Receivables within one year
-€226,299
Deferred charges and accrued income
-€128,718
Trade debts
+€36,267
Tax, wage and social debts
+€48,915
Accrued charges and deferred income
-€6,289
Financing
+€0
Contributions, distributions and other
+€0
Cash 2025
€756
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €923,259 | €1,122,781 | +€199,522 | +21.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €923,259 | €1,122,781 | +€199,522 | +21.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €171,782 | €18,841 | -€152,941 | -89.0% |
| Stocks | 30/36 | €171,782 | €18,841 | -€152,941 | -89.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €748,074 | €974,373 | +€226,299 | +30.3% |
| Trade receivables | 40 | €668,979 | €726,562 | +€57,583 | +8.6% |
| Other amounts receivable | 41 | €79,095 | €247,811 | +€168,716 | +213.3% |
| Cash at bank and in hand | 54/58 | €3,310 | €756 | -€2,554 | -77.2% |
| Deferred charges and accrued income | 490/1 | €93 | €128,811 | +€128,718 | +138406.1% |
| Total equity and liabilities | 10/49 | €923,259 | €1,122,781 | +€199,522 | +21.6% |
| Equity | 10/15 | €658,838 | €779,467 | +€120,629 | +18.3% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Outside capital | 11 | €0 | - | = | |
| Share premium | 1100/10 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €421,991 | €421,990 | -€1 | 0.0% |
| Non-distributable reserves | 130/1 | €20,745 | €20,745 | -€0 | 0.0% |
| Legal reserve | 130 | €20,745 | €20,745 | -€0 | 0.0% |
| Distributable reserves | 133 | €401,246 | €401,246 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€138,153 | -€17,524 | +€120,629 | +87.3% |
| Amounts payable | 17/49 | €264,421 | €343,314 | +€78,893 | +29.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Trade debts | 175 | €0 | - | = | |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €258,132 | €343,314 | +€85,182 | +33.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €239,722 | €275,989 | +€36,267 | +15.1% |
| Suppliers | 440/4 | €239,722 | €275,989 | +€36,267 | +15.1% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €18,410 | €67,325 | +€48,915 | +265.7% |
| Taxes | 450/3 | €18,410 | €67,325 | +€48,915 | +265.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €6,289 | - | -€6,289 | |
| Turnover | 70 | €1,252,796 | - | -€1.3m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,303,047 | - | -€1.3m | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€139,564 | €50,351 | +€189,915 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €33,015 | €83,789 | +€50,774 | +153.8% |
| Non-recurring operating charges | 66A | €0 | €103 | +€103 | |
| Gross operating margin | 9900 | -€251 | €296,218 | +€296,469 | |
| Operating profit (loss) | 9901 | €106,298 | €161,975 | +€55,677 | +52.4% |
| Financial income | 75/76B | €2 | €394 | +€392 | +19601.0% |
| Recurring financial income | 75 | €2 | €394 | +€392 | +19601.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,727 | €559 | -€6,168 | -91.7% |
| Recurring financial charges | 65 | €6,727 | €559 | -€6,168 | -91.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €99,573 | €161,810 | +€62,237 | +62.5% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €15,585 | €41,181 | +€25,596 | +164.2% |
| Profit (loss) for the period | 9904 | €83,988 | €120,628 | +€36,640 | +43.6% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €83,988 | €120,628 | +€36,640 | +43.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.