AD 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.
AD PHARMA
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+646.2%), from €164,054 to €1.2m
- Receivables within one year +€55,210
up €55,210 (+456.3%), from €12,100 to €67,310
of which Other amounts receivable: +€67,264
- Debts after one year +€930,039
up €930,039 (+917.2%), from €101,399 to €1.0m
- Profit (loss) carried forward +€88,132
up €88,132 (+14469.3%), from €609 to €88,742
- Current portion of long-term debt +€75,902
up €75,902 (+301.7%), from €25,156 to €101,059
- Tax, wage and social debts +€23,768
up €23,768 (+306.5%), from €7,755 to €31,522
- Gross operating margin +€100,541
up €100,541 (+214.1%), from €46,957 to €147,498
- Financial charges +€25,762
up €25,762 (+865.9%), from €2,975 to €28,737
- Taxes +€16,843
up €16,843 (+195.9%), from €8,598 to €25,440
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 | €259,294 | €1,372,911 | +€1.1m | +429.5% |
| Fixed assets | 21/28 | €169,722 | €1,224,188 | +€1.1m | +621.3% |
| Tangible fixed assets | 22/27 | €5,668 | - | -€5,668 | |
| Furniture and vehicles | 24 | €5,668 | - | -€5,668 | |
| Financial fixed assets | 28 | €164,054 | €1,224,188 | +€1.1m | +646.2% |
| Current assets | 29/58 | €89,572 | €148,723 | +€59,151 | +66.0% |
| Amounts receivable within one year | 40/41 | €12,100 | €67,310 | +€55,210 | +456.3% |
| Trade receivables | 40 | €12,100 | €46 | -€12,054 | -99.6% |
| Other amounts receivable | 41 | - | €67,264 | +€67,264 | |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,282 | €41,413 | +€4,131 | +11.1% |
| Deferred charges and accrued income | 490/1 | €190 | - | -€190 | |
| Total equity and liabilities | 10/49 | €259,294 | €1,372,911 | +€1.1m | +429.5% |
| Equity | 10/15 | €30,609 | €118,742 | +€88,132 | +287.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €609 | €88,742 | +€88,132 | +14469.3% |
| Amounts payable | 17/49 | €228,685 | €1,254,170 | +€1.0m | +448.4% |
| Amounts payable after more than one year | 17 | €101,399 | €1,031,438 | +€930,039 | +917.2% |
| Financial debts | 170/4 | €101,399 | €1,031,438 | +€930,039 | +917.2% |
| Amounts payable within one year | 42/48 | €127,286 | €222,732 | +€95,446 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €25,156 | €101,059 | +€75,902 | +301.7% |
| Trade debts | 44 | €4,011 | €728 | -€3,283 | -81.9% |
| Suppliers | 440/4 | €4,011 | €728 | -€3,283 | -81.9% |
| Taxes, remuneration and social security | 45 | €7,755 | €31,522 | +€23,768 | +306.5% |
| Taxes | 450/3 | €7,755 | €31,522 | +€23,768 | +306.5% |
| Other amounts payable | 47/48 | €90,364 | €89,423 | -€941 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,028 | €5,668 | -€1,360 | -19.3% |
| Other operating charges | 640/8 | - | €2 | +€2 | |
| Gross operating margin | 9900 | €46,957 | €147,498 | +€100,541 | +214.1% |
| Operating profit (loss) | 9901 | €39,929 | €141,828 | +€101,899 | +255.2% |
| Financial income | 75/76B | €418 | €481 | +€64 | +15.2% |
| Recurring financial income | 75 | €418 | €481 | +€64 | +15.2% |
| Financial charges | 65/66B | €2,975 | €28,737 | +€25,762 | +865.9% |
| Recurring financial charges | 65 | €2,975 | €28,737 | +€25,762 | +865.9% |
| Profit (loss) for the period before taxes | 9903 | €37,372 | €113,572 | +€76,200 | +203.9% |
| Income taxes | 67/77 | €8,598 | €25,440 | +€16,843 | +195.9% |
| Profit (loss) for the period | 9904 | €28,775 | €88,132 | +€59,358 | +206.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,775 | €88,132 | +€59,358 | +206.3% |
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 30 September 2026 via checked.be.