APOTHEEK DE MEYER: 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 DE MEYER
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€201,286
2024 · €230,297-€29,011
Equity
€2.7m
2024 · €2.5m+€199,620
Cash
€1.9m
2024 · €1.8m+€51,855
Balance sheet total
€2.8m
2024 · €2.6m+€185,864
Largest movements
Assets
- Current investments +€130,936
up €130,936 (+74.2%), from €176,452 to €307,388
- Cash +€51,855
up €51,855 (+2.8%), from €1.8m to €1.9m
mainly Net result for the year (+€201,286) and Depreciation (+€18,312)
Equity and liabilities
- Reserves +€199,620
up €199,620 (+8.2%), from €2.4m to €2.6m
of which Distributable reserves: +€199,620
Income statement
- Gross operating margin -€49,397
down €49,397 (-8.5%), from €582,190 to €532,793
- Taxes -€13,728
down €13,728 (-13.2%), from €104,353 to €90,624
- Staff costs -€9,242
down €9,242 (-3.8%), from €241,335 to €232,093
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
€230,297
Gross operating margin
-€49,397
Staff costs
+€9,242
Depreciation
-€3,300
Other operating charges
-€74
Other operating items
-€1,663
Financial income
+€4,457
Financial charges
-€2,005
Taxes
+€13,728
Result 2025
€201,286
raises the resultlowers the resultnot broken down further in the accounts
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
+€196,686
Investment
-€143,165
Financing
-€1,666
Cash 2024
€1.8m
From operations (derived)
+€196,686
Net result for the year
+€201,286
Depreciation
+€18,312
Stocks and contracts
-€4,826
Receivables within one year
-€376
Deferred charges and accrued income
-€3,954
Trade debts
+€15,432
Tax, wage and social debts
-€21,886
Other debts
-€7,302
Investment (derived)
-€143,165
Investment in fixed assets (net)
-€12,229
Current investments
-€130,936
Financing
-€1,666
Contributions, distributions and other
-€1,666
Cash 2025
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,639,461 | €2,825,325 | +€185,864 | +7.0% |
| Fixed assets | 21/28 | €267,199 | €261,116 | -€6,083 | -2.3% |
| Tangible fixed assets | 22/27 | €265,699 | €259,616 | -€6,083 | -2.3% |
| Land and buildings | 22 | €255,053 | €246,326 | -€8,727 | -3.4% |
| Plant, machinery and equipment | 23 | €3,972 | €7,950 | +€3,978 | +100% |
| Furniture and vehicles | 24 | €6,674 | €5,340 | -€1,334 | -20.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €2,372,262 | €2,564,209 | +€191,947 | +8.1% |
| Stocks and contracts in progress | 3 | €345,812 | €350,638 | +€4,826 | +1.4% |
| Stocks | 30/36 | €345,812 | €350,638 | +€4,826 | +1.4% |
| Amounts receivable within one year | 40/41 | €18,774 | €19,149 | +€376 | +2.0% |
| Trade receivables | 40 | €18,774 | €16,569 | -€2,205 | -11.7% |
| Other amounts receivable | 41 | €0 | €2,580 | +€2,580 | |
| Current investments | 50/53 | €176,452 | €307,388 | +€130,936 | +74.2% |
| Cash at bank and in hand | 54/58 | €1,830,408 | €1,882,263 | +€51,855 | +2.8% |
| Deferred charges and accrued income | 490/1 | €816 | €4,770 | +€3,954 | +485% |
| Total equity and liabilities | 10/49 | €2,639,461 | €2,825,325 | +€185,864 | +7.0% |
| Equity | 10/15 | €2,496,034 | €2,695,654 | +€199,620 | +8.0% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €2,432,034 | €2,631,654 | +€199,620 | +8.2% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Distributable reserves | 133 | €2,425,634 | €2,625,254 | +€199,620 | +8.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €143,427 | €129,671 | -€13,756 | -9.6% |
| Amounts payable within one year | 42/48 | €143,427 | €129,671 | -€13,756 | -9.6% |
| Trade debts | 44 | €54,908 | €70,341 | +€15,432 | +28.1% |
| Suppliers | 440/4 | €54,908 | €70,341 | +€15,432 | +28.1% |
| Taxes, remuneration and social security | 45 | €79,550 | €57,664 | -€21,886 | -27.5% |
| Taxes | 450/3 | €31,687 | €14,173 | -€17,514 | -55.3% |
| Remuneration and social security | 454/9 | €47,863 | €43,491 | -€4,372 | -9.1% |
| Other amounts payable | 47/48 | €8,968 | €1,666 | -€7,302 | -81.4% |
| Remuneration, social security and pensions | 62 | €241,335 | €232,093 | -€9,242 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,012 | €18,312 | +€3,300 | +22.0% |
| Other operating charges | 640/8 | €1,996 | €2,070 | +€74 | +3.7% |
| Non-recurring operating charges | 66A | - | €1,663 | +€1,663 | |
| Gross operating margin | 9900 | €582,190 | €532,793 | -€49,397 | -8.5% |
| Operating profit (loss) | 9901 | €323,847 | €278,655 | -€45,192 | -14.0% |
| Financial income | 75/76B | €11,273 | €15,730 | +€4,457 | +39.5% |
| Recurring financial income | 75 | €11,273 | €15,730 | +€4,457 | +39.5% |
| Financial charges | 65/66B | €471 | €2,476 | +€2,005 | +426% |
| Recurring financial charges | 65 | €471 | €2,476 | +€2,005 | +426% |
| Profit (loss) for the period before taxes | 9903 | €334,649 | €291,910 | -€42,739 | -12.8% |
| Income taxes | 67/77 | €104,353 | €90,624 | -€13,728 | -13.2% |
| Profit (loss) for the period | 9904 | €230,297 | €201,286 | -€29,011 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €230,297 | €201,286 | -€29,011 | -12.6% |
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 25 October 2026 via checked.be.