Aalst Pharma: 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.
Aalst Pharma
Largest movements
- Tangible fixed assets +€327,823
up €327,823 (+559.7%), from €58,574 to €386,397
of which Land and buildings: +€288,972
- Stocks and contracts +€94,822
up €94,822 (+77.9%), from €121,718 to €216,541
- Cash -€49,131
down €49,131 (-69.3%), from €70,866 to €21,736
mainly Investment in fixed assets (net) (-€349,418) and Contributions, distributions and other (-€200,000)
- Receivables within one year +€41,189
up €41,189 (+40.4%), from €102,015 to €143,204
of which Trade receivables: +€32,882
- Debts after one year +€250,057
new in 2025: €250,057
- Other debts +€161,675
up €161,675 (+344.3%), from €46,954 to €208,629
- Short-term financial debts +€149,950
new in 2025: €149,950
- Reserves -€145,966
down €145,966 (-72.2%), from €202,218 to €56,252
- Current portion of long-term debt +€14,135
new in 2025: €14,135
- Gross operating margin +€97,075
up €97,075 (+132.1%), from €73,495 to €170,570
- Staff costs +€59,129
up €59,129 (+242.3%), from €24,405 to €83,534
- Depreciation +€16,146
up €16,146 (+296.2%), from €5,450 to €21,596
- Financial charges +€8,475
up €8,475 (+1149.6%), from €737 to €9,212
- Financial income -€3,409
down €3,409 (-78.3%), from €4,353 to €944
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 | €358,809 | €780,607 | +€421,798 | +117.6% |
| Fixed assets | 21/28 | €63,574 | €391,397 | +€327,823 | +515.7% |
| Tangible fixed assets | 22/27 | €58,574 | €386,397 | +€327,823 | +559.7% |
| Land and buildings | 22 | - | €288,972 | +€288,972 | |
| Plant, machinery and equipment | 23 | €19,643 | €24,446 | +€4,803 | +24.4% |
| Furniture and vehicles | 24 | - | €4,085 | +€4,085 | |
| Other tangible fixed assets | 26 | €38,931 | €68,894 | +€29,963 | +77.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €295,235 | €389,211 | +€93,975 | +31.8% |
| Stocks and contracts in progress | 3 | €121,718 | €216,541 | +€94,822 | +77.9% |
| Stocks | 30/36 | €121,718 | €216,541 | +€94,822 | +77.9% |
| Amounts receivable within one year | 40/41 | €102,015 | €143,204 | +€41,189 | +40.4% |
| Trade receivables | 40 | €80,466 | €113,348 | +€32,882 | +40.9% |
| Other amounts receivable | 41 | €21,549 | €29,855 | +€8,306 | +38.5% |
| Cash at bank and in hand | 54/58 | €70,866 | €21,736 | -€49,131 | -69.3% |
| Deferred charges and accrued income | 490/1 | €635 | €7,731 | +€7,095 | +1116.5% |
| Total equity and liabilities | 10/49 | €358,809 | €780,607 | +€421,798 | +117.6% |
| Equity | 10/15 | €220,810 | €74,844 | -€145,966 | -66.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €202,218 | €56,252 | -€145,966 | -72.2% |
| Distributable reserves | 133 | €202,218 | €56,252 | -€145,966 | -72.2% |
| Amounts payable | 17/49 | €137,999 | €705,764 | +€567,764 | +411.4% |
| Amounts payable after more than one year | 17 | - | €250,057 | +€250,057 | |
| Financial debts | 170/4 | - | €250,057 | +€250,057 | |
| Amounts payable within one year | 42/48 | €134,684 | €453,082 | +€318,398 | +236.4% |
| Current portion of amounts payable after more than one year | 42 | - | €14,135 | +€14,135 | |
| Financial debts | 43 | - | €149,950 | +€149,950 | |
| Credit institutions | 430/8 | - | €149,950 | +€149,950 | |
| Trade debts | 44 | €83,650 | €70,355 | -€13,295 | -15.9% |
| Suppliers | 440/4 | €83,650 | €70,355 | -€13,295 | -15.9% |
| Taxes, remuneration and social security | 45 | €4,080 | €10,013 | +€5,933 | +145.4% |
| Taxes | 450/3 | €49 | €267 | +€218 | +444.0% |
| Remuneration and social security | 454/9 | €4,031 | €9,746 | +€5,716 | +141.8% |
| Other amounts payable | 47/48 | €46,954 | €208,629 | +€161,675 | +344.3% |
| Accrued charges and deferred income | 492/3 | €3,316 | €2,624 | -€691 | -20.8% |
| Remuneration, social security and pensions | 62 | €24,405 | €83,534 | +€59,129 | +242.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,450 | €21,596 | +€16,146 | +296.2% |
| Other operating charges | 640/8 | €666 | €694 | +€28 | +4.2% |
| Gross operating margin | 9900 | €73,495 | €170,570 | +€97,075 | +132.1% |
| Operating profit (loss) | 9901 | €42,974 | €64,746 | +€21,772 | +50.7% |
| Financial income | 75/76B | €4,353 | €944 | -€3,409 | -78.3% |
| Recurring financial income | 75 | €4,353 | €944 | -€3,409 | -78.3% |
| Financial charges | 65/66B | €737 | €9,212 | +€8,475 | +1149.6% |
| Recurring financial charges | 65 | €737 | €9,212 | +€8,475 | +1149.6% |
| Profit (loss) for the period before taxes | 9903 | €46,590 | €56,478 | +€9,888 | +21.2% |
| Income taxes | 67/77 | €1,101 | €2,444 | +€1,343 | +121.9% |
| Profit (loss) for the period | 9904 | €45,488 | €54,034 | +€8,545 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,488 | €54,034 | +€8,545 | +18.8% |
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 1 October 2026 via checked.be.