APOTHEEK CORDENIER: 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.
What changed
APOTHEEK CORDENIER
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,801
2024 · €25,418-€9,617
Equity
€264,537
2024 · €248,736+€15,801
Cash
€20,511
2024 · €27,100-€6,589
Balance sheet total
€687,333
2024 · €644,988+€42,345
Largest movements
Assets
- Receivables within one year +€23,649
up €23,649 (+6.8%), from €348,410 to €372,059
of which Other amounts receivable: +€18,545
- Tangible fixed assets +€22,848
up €22,848 (+13.8%), from €165,727 to €188,575
of which Furniture and vehicles: +€31,830
Equity and liabilities
- Profit (loss) carried forward +€15,801
up €15,801 (+10.7%), from €148,276 to €164,077
- Trade debts +€13,223
up €13,223 (+10.8%), from €122,795 to €136,018
- Current portion of long-term debt +€8,070
up €8,070 (+11.2%), from €72,050 to €80,120
Income statement
- Gross operating margin -€11,393
down €11,393 (-10.5%), from €108,990 to €97,597
- Taxes -€3,250
down €3,250 (-36.1%), from €9,011 to €5,761
- Staff costs +€1,498
up €1,498 (+3.3%), from €45,590 to €47,088
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
€25,418
Gross operating margin
-€11,393
Staff costs
-€1,498
Depreciation
-€607
Other operating charges
-€34
Financial income
-€23
Financial charges
+€689
Taxes
+€3,250
Result 2025
€15,801
raises the resultlowers the result
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.
From operations
+€21,686
Investment
-€41,590
Financing
+€13,316
Cash 2024
€27,100
From operations (derived)
+€21,686
Net result for the year
+€15,801
Depreciation
+€18,742
Stocks and contracts
-€1,432
Receivables within one year
-€23,649
Deferred charges and accrued income
-€1,004
Trade debts
+€13,223
Tax, wage and social debts
-€301
Accrued charges and deferred income
+€307
Investment (derived)
-€41,590
Investment in fixed assets (net)
-€41,590
Financing
+€13,316
Debts after one year
+€5,246
Current portion of long-term debt
+€8,070
Cash 2025
€20,511
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €644,988 | €687,333 | +€42,345 | +6.6% |
| Fixed assets | 21/28 | €165,727 | €188,575 | +€22,848 | +13.8% |
| Tangible fixed assets | 22/27 | €165,727 | €188,575 | +€22,848 | +13.8% |
| Land and buildings | 22 | €144,821 | €135,840 | -€8,982 | -6.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €20,905 | €52,736 | +€31,830 | +152% |
| Current assets | 29/58 | €479,261 | €498,758 | +€19,497 | +4.1% |
| Amounts receivable after more than one year | 29 | €24 | €24 | = | 0.0% |
| Trade receivables | 290 | €24 | €24 | = | 0.0% |
| Stocks and contracts in progress | 3 | €101,654 | €103,086 | +€1,432 | +1.4% |
| Stocks | 30/36 | €101,654 | €103,086 | +€1,432 | +1.4% |
| Amounts receivable within one year | 40/41 | €348,410 | €372,059 | +€23,649 | +6.8% |
| Trade receivables | 40 | €67,181 | €72,285 | +€5,104 | +7.6% |
| Other amounts receivable | 41 | €281,229 | €299,774 | +€18,545 | +6.6% |
| Current investments | 50/53 | €51 | €51 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,100 | €20,511 | -€6,589 | -24.3% |
| Deferred charges and accrued income | 490/1 | €2,023 | €3,027 | +€1,004 | +49.6% |
| Total equity and liabilities | 10/49 | €644,988 | €687,333 | +€42,345 | +6.6% |
| Equity | 10/15 | €248,736 | €264,537 | +€15,801 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,860 | €81,860 | = | 0.0% |
| Distributable reserves | 133 | €81,860 | €81,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,276 | €164,077 | +€15,801 | +10.7% |
| Amounts payable | 17/49 | €396,251 | €422,796 | +€26,544 | +6.7% |
| Amounts payable after more than one year | 17 | €179,695 | €184,941 | +€5,246 | +2.9% |
| Financial debts | 170/4 | €163,576 | €170,934 | +€7,359 | +4.5% |
| Other amounts payable | 178/9 | €16,120 | €14,007 | -€2,113 | -13.1% |
| Amounts payable within one year | 42/48 | €214,323 | €235,315 | +€20,992 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €72,050 | €80,120 | +€8,070 | +11.2% |
| Trade debts | 44 | €122,795 | €136,018 | +€13,223 | +10.8% |
| Suppliers | 440/4 | €122,795 | €136,018 | +€13,223 | +10.8% |
| Taxes, remuneration and social security | 45 | €12,462 | €12,161 | -€301 | -2.4% |
| Taxes | 450/3 | €6,772 | €6,221 | -€551 | -8.1% |
| Remuneration and social security | 454/9 | €5,690 | €5,939 | +€250 | +4.4% |
| Other amounts payable | 47/48 | €7,016 | €7,016 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,233 | €2,540 | +€307 | +13.7% |
| Remuneration, social security and pensions | 62 | €45,590 | €47,088 | +€1,498 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,134 | €18,742 | +€607 | +3.3% |
| Other operating charges | 640/8 | €1,150 | €1,185 | +€34 | +3.0% |
| Gross operating margin | 9900 | €108,990 | €97,597 | -€11,393 | -10.5% |
| Operating profit (loss) | 9901 | €44,116 | €30,583 | -€13,533 | -30.7% |
| Financial income | 75/76B | €71 | €48 | -€23 | -32.7% |
| Recurring financial income | 75 | €71 | €48 | -€23 | -32.7% |
| Financial charges | 65/66B | €9,758 | €9,070 | -€689 | -7.1% |
| Recurring financial charges | 65 | €9,758 | €9,070 | -€689 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €34,429 | €21,562 | -€12,867 | -37.4% |
| Income taxes | 67/77 | €9,011 | €5,761 | -€3,250 | -36.1% |
| Profit (loss) for the period | 9904 | €25,418 | €15,801 | -€9,617 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,418 | €15,801 | -€9,617 | -37.8% |
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 31 October 2026 via checked.be.