Antoine Pharma: 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.
Antoine Pharma
Largest movements
- Cash +€62,365
up €62,365 (+69.6%), from €89,598 to €151,963
mainly Other debts (+€443,058) and Net result for the year (+€106,892)
- Receivables within one year -€19,156
down €19,156 (-78.3%), from €24,476 to €5,320
of which Trade receivables: -€14,635
- Tangible fixed assets +€15,977
new in 2025: €15,977
- Other debts +€443,058
up €443,058 (+128%), from €346,290 to €789,348
- Profit (loss) carried forward -€293,108
down €293,108 (-96.5%), from €303,659 to €10,552
- Debts after one year -€98,834
down €98,834 (-16.8%), from €587,637 to €488,803
- Gross operating margin +€23,304
up €23,304 (+18.5%), from €125,888 to €149,192
- Taxes +€5,124
up €5,124 (+20.8%), from €24,680 to €29,804
- Depreciation +€2,654
new in 2025: €2,654
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.
Derived cash bridge
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 | €1,397,668 | €1,456,967 | +€59,300 | +4.2% |
| Fixed assets | 21/28 | €1,281,841 | €1,297,817 | +€15,977 | +1.2% |
| Tangible fixed assets | 22/27 | - | €15,977 | +€15,977 | |
| Furniture and vehicles | 24 | - | €15,977 | +€15,977 | |
| Financial fixed assets | 28 | €1,281,841 | €1,281,841 | = | 0.0% |
| Current assets | 29/58 | €115,827 | €159,150 | +€43,323 | +37.4% |
| Amounts receivable within one year | 40/41 | €24,476 | €5,320 | -€19,156 | -78.3% |
| Trade receivables | 40 | €14,635 | - | -€14,635 | |
| Other amounts receivable | 41 | €9,841 | €5,320 | -€4,521 | -45.9% |
| Cash at bank and in hand | 54/58 | €89,598 | €151,963 | +€62,365 | +69.6% |
| Deferred charges and accrued income | 490/1 | €1,753 | €1,867 | +€114 | +6.5% |
| Total equity and liabilities | 10/49 | €1,397,668 | €1,456,967 | +€59,300 | +4.2% |
| Equity | 10/15 | €353,659 | €60,552 | -€293,108 | -82.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €303,659 | €10,552 | -€293,108 | -96.5% |
| Amounts payable | 17/49 | €1,044,008 | €1,396,416 | +€352,408 | +33.8% |
| Amounts payable after more than one year | 17 | €587,637 | €488,803 | -€98,834 | -16.8% |
| Financial debts | 170/4 | €587,637 | €488,803 | -€98,834 | -16.8% |
| Amounts payable within one year | 42/48 | €456,372 | €907,609 | +€451,237 | +98.9% |
| Current portion of amounts payable after more than one year | 42 | €97,573 | €99,059 | +€1,486 | +1.5% |
| Trade debts | 44 | €1,517 | €5,529 | +€4,012 | +264% |
| Suppliers | 440/4 | €1,517 | €5,529 | +€4,012 | +264% |
| Taxes, remuneration and social security | 45 | €10,991 | €13,673 | +€2,682 | +24.4% |
| Taxes | 450/3 | €10,991 | €13,673 | +€2,682 | +24.4% |
| Other amounts payable | 47/48 | €346,290 | €789,348 | +€443,058 | +128% |
| Accrued charges and deferred income | 492/3 | - | €5 | +€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,654 | +€2,654 | |
| Other operating charges | 640/8 | €33 | - | -€33 | |
| Gross operating margin | 9900 | €125,888 | €149,192 | +€23,304 | +18.5% |
| Operating profit (loss) | 9901 | €125,855 | €146,538 | +€20,683 | +16.4% |
| Financial income | 75/76B | €1,987 | €678 | -€1,308 | -65.9% |
| Recurring financial income | 75 | €1,987 | €678 | -€1,308 | -65.9% |
| Financial charges | 65/66B | €11,056 | €10,519 | -€537 | -4.9% |
| Recurring financial charges | 65 | €11,056 | €10,519 | -€537 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €116,786 | €136,697 | +€19,911 | +17.0% |
| Income taxes | 67/77 | €24,680 | €29,804 | +€5,124 | +20.8% |
| Profit (loss) for the period | 9904 | €92,106 | €106,892 | +€14,787 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,106 | €106,892 | +€14,787 | +16.1% |
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 15 October 2026 via checked.be.