APOTHEEK ARENA: 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.
APOTHEEK ARENA
Largest movements
- Cash -€49,289
down €49,289 (-65.6%), from €75,125 to €25,836
mainly Contributions, distributions and other (-€32,000) and Other debts (-€30,951)
- Receivables within one year +€22,060
up €22,060 (+29.5%), from €74,851 to €96,911
of which Trade receivables: +€14,118
- Stocks and contracts +€8,375
up €8,375 (+6.9%), from €120,852 to €129,227
- Other debts -€30,951
down €30,951 (-24.8%), from €125,025 to €94,074
- Trade debts +€12,248
up €12,248 (+13.7%), from €89,606 to €101,854
- Current portion of long-term debt -€8,289
down €8,289 (-75.4%), from €10,999 to €2,710
- Tax, wage and social debts +€4,278
up €4,278 (+109%), from €3,921 to €8,199
of which Remuneration and social security: +€6,901
- Debts after one year +€3,672
up €3,672 (+244%), from €1,502 to €5,174
- Staff costs +€37,250
up €37,250 (+79.2%), from €47,007 to €84,257
- Gross operating margin -€31,648
down €31,648 (-17.6%), from €180,166 to €148,519
- Taxes -€11,511
down €11,511 (-50.9%), from €22,623 to €11,112
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 | €330,481 | €311,396 | -€19,085 | -5.8% |
| Fixed assets | 21/28 | €50,043 | €50,798 | +€756 | +1.5% |
| Tangible fixed assets | 22/27 | €50,043 | €50,798 | +€756 | +1.5% |
| Land and buildings | 22 | €41,293 | €38,474 | -€2,819 | -6.8% |
| Plant, machinery and equipment | 23 | €8,606 | €12,325 | +€3,719 | +43.2% |
| Other tangible fixed assets | 26 | €144 | - | -€144 | |
| Current assets | 29/58 | €280,439 | €260,598 | -€19,841 | -7.1% |
| Stocks and contracts in progress | 3 | €120,852 | €129,227 | +€8,375 | +6.9% |
| Stocks | 30/36 | €120,852 | €129,227 | +€8,375 | +6.9% |
| Amounts receivable within one year | 40/41 | €74,851 | €96,911 | +€22,060 | +29.5% |
| Trade receivables | 40 | €67,666 | €81,785 | +€14,118 | +20.9% |
| Other amounts receivable | 41 | €7,184 | €15,126 | +€7,942 | +111% |
| Cash at bank and in hand | 54/58 | €75,125 | €25,836 | -€49,289 | -65.6% |
| Deferred charges and accrued income | 490/1 | €9,611 | €8,624 | -€987 | -10.3% |
| Total equity and liabilities | 10/49 | €330,481 | €311,396 | -€19,085 | -5.8% |
| Equity | 10/15 | €95,602 | €95,574 | -€28 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,580 | €2,580 | = | 0.0% |
| Distributable reserves | 133 | €2,580 | €2,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,422 | €74,394 | -€28 | 0.0% |
| Amounts payable | 17/49 | €234,880 | €215,822 | -€19,057 | -8.1% |
| Amounts payable after more than one year | 17 | €1,502 | €5,174 | +€3,672 | +244% |
| Financial debts | 170/4 | €1,502 | €5,174 | +€3,672 | +244% |
| Amounts payable within one year | 42/48 | €233,378 | €210,649 | -€22,729 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €10,999 | €2,710 | -€8,289 | -75.4% |
| Financial debts | 43 | €3,827 | €3,812 | -€14 | -0.4% |
| Credit institutions | 430/8 | €3,827 | €3,812 | -€14 | -0.4% |
| Trade debts | 44 | €89,606 | €101,854 | +€12,248 | +13.7% |
| Suppliers | 440/4 | €89,606 | €101,854 | +€12,248 | +13.7% |
| Taxes, remuneration and social security | 45 | €3,921 | €8,199 | +€4,278 | +109% |
| Taxes | 450/3 | €2,623 | - | -€2,623 | |
| Remuneration and social security | 454/9 | €1,298 | €8,199 | +€6,901 | +532% |
| Other amounts payable | 47/48 | €125,025 | €94,074 | -€30,951 | -24.8% |
| Remuneration, social security and pensions | 62 | €47,007 | €84,257 | +€37,250 | +79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,707 | €7,509 | +€803 | +12.0% |
| Other operating charges | 640/8 | €2,570 | €2,649 | +€79 | +3.1% |
| Gross operating margin | 9900 | €180,166 | €148,519 | -€31,648 | -17.6% |
| Operating profit (loss) | 9901 | €123,882 | €54,104 | -€69,779 | -56.3% |
| Financial income | 75/76B | €20 | €8 | -€12 | -58.2% |
| Recurring financial income | 75 | €20 | €8 | -€12 | -58.2% |
| Financial charges | 65/66B | €10,770 | €11,028 | +€257 | +2.4% |
| Recurring financial charges | 65 | €10,770 | €11,028 | +€257 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €113,132 | €43,084 | -€70,048 | -61.9% |
| Income taxes | 67/77 | €22,623 | €11,112 | -€11,511 | -50.9% |
| Profit (loss) for the period | 9904 | €90,509 | €31,972 | -€58,537 | -64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,509 | €31,972 | -€58,537 | -64.7% |
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 28 October 2026 via checked.be.