Apotheek De Swaene: what changed
What changed
Apotheek De Swaene
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
-€26,032
2024 · €58,204-€84,236
Equity
€68,761
2024 · €94,793-€26,032
Cash
€22,569
2024 · €33,147-€10,577
Balance sheet total
€720,943
2024 · €610,023+€110,920
Largest movements
Assets
- Tangible fixed assets +€119,314
up €119,314 (+26.7%), from €447,468 to €566,782
of which Land and buildings: +€112,186
- Cash -€10,577
down €10,577 (-31.9%), from €33,147 to €22,569
mainly Investment in fixed assets (net) (-€167,051) and Debts after one year (-€32,976)
Equity and liabilities
- Other debts +€173,730
up €173,730 (+132%), from €131,771 to €305,501
- Debts after one year -€32,976
down €32,976 (-11.5%), from €285,552 to €252,576
- Reserves -€26,032
down €26,032 (-34.2%), from €76,201 to €50,169
of which Distributable reserves: -€26,032
Income statement
- Gross operating margin -€70,914
down €70,914 (-62.9%), from €112,770 to €41,857
- Depreciation +€16,559
up €16,559 (+53.1%), from €31,178 to €47,736
- Financial charges +€1,413
up €1,413 (+9.0%), from €15,769 to €17,182
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€58,204
Gross operating margin
-€70,914
Depreciation
-€16,559
Other operating charges
+€773
Other operating items
+€3,962
Financial income
-€206
Financial charges
-€1,413
Taxes
+€120
Result 2025
-€26,032
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€188,586
Investment
-€167,051
Financing
-€32,112
Cash 2024
€33,147
From operations (derived)
+€188,586
Net result for the year
-€26,032
Depreciation
+€47,736
Stocks and contracts
+€608
Receivables within one year
-€6,032
Deferred charges and accrued income
+€3,240
Trade debts
-€4,041
Tax, wage and social debts
-€100
Other debts
+€173,730
Accrued charges and deferred income
-€525
Investment (derived)
-€167,051
Investment in fixed assets (net)
-€167,051
Financing
-€32,112
Debts after one year
-€32,976
Current portion of long-term debt
+€864
Cash 2025
€22,569
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €610,023 | €720,943 | +€110,920 | +18.2% |
| Fixed assets | 21/28 | €447,468 | €566,782 | +€119,314 | +26.7% |
| Tangible fixed assets | 22/27 | €447,468 | €566,782 | +€119,314 | +26.7% |
| Land and buildings | 22 | €382,660 | €494,847 | +€112,186 | +29.3% |
| Plant, machinery and equipment | 23 | €8,736 | €24,232 | +€15,496 | +177% |
| Furniture and vehicles | 24 | €56,072 | €47,703 | -€8,368 | -14.9% |
| Current assets | 29/58 | €162,555 | €154,161 | -€8,394 | -5.2% |
| Stocks and contracts in progress | 3 | €79,915 | €79,307 | -€608 | -0.8% |
| Stocks | 30/36 | €79,915 | €79,307 | -€608 | -0.8% |
| Amounts receivable within one year | 40/41 | €44,219 | €50,251 | +€6,032 | +13.6% |
| Trade receivables | 40 | €38,621 | €45,811 | +€7,190 | +18.6% |
| Other amounts receivable | 41 | €5,598 | €4,440 | -€1,159 | -20.7% |
| Cash at bank and in hand | 54/58 | €33,147 | €22,569 | -€10,577 | -31.9% |
| Deferred charges and accrued income | 490/1 | €5,274 | €2,033 | -€3,240 | -61.4% |
| Total equity and liabilities | 10/49 | €610,023 | €720,943 | +€110,920 | +18.2% |
| Equity | 10/15 | €94,793 | €68,761 | -€26,032 | -27.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €76,201 | €50,169 | -€26,032 | -34.2% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €68,201 | €42,169 | -€26,032 | -38.2% |
| Amounts payable | 17/49 | €515,230 | €652,182 | +€136,952 | +26.6% |
| Amounts payable after more than one year | 17 | €285,552 | €252,576 | -€32,976 | -11.5% |
| Financial debts | 170/4 | €285,552 | €252,576 | -€32,976 | -11.5% |
| Amounts payable within one year | 42/48 | €228,367 | €398,820 | +€170,453 | +74.6% |
| Current portion of amounts payable after more than one year | 42 | €32,112 | €32,976 | +€864 | +2.7% |
| Trade debts | 44 | €64,384 | €60,344 | -€4,041 | -6.3% |
| Suppliers | 440/4 | €64,384 | €60,344 | -€4,041 | -6.3% |
| Taxes, remuneration and social security | 45 | €100 | - | -€100 | |
| Taxes | 450/3 | €100 | - | -€100 | |
| Other amounts payable | 47/48 | €131,771 | €305,501 | +€173,730 | +132% |
| Accrued charges and deferred income | 492/3 | €1,310 | €786 | -€525 | -40.0% |
| Non-recurring operating income | 76A | €45,501 | - | -€45,501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,178 | €47,736 | +€16,559 | +53.1% |
| Other operating charges | 640/8 | €3,880 | €3,107 | -€773 | -19.9% |
| Non-recurring operating charges | 66A | €3,962 | - | -€3,962 | |
| Gross operating margin | 9900 | €112,770 | €41,857 | -€70,914 | -62.9% |
| Operating profit (loss) | 9901 | €73,750 | -€8,987 | -€82,737 | |
| Financial income | 75/76B | €317 | €111 | -€206 | -65.0% |
| Recurring financial income | 75 | €317 | €111 | -€206 | -65.0% |
| Financial charges | 65/66B | €15,769 | €17,182 | +€1,413 | +9.0% |
| Recurring financial charges | 65 | €15,769 | €17,182 | +€1,413 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €58,298 | -€26,058 | -€84,356 | |
| Income taxes | 67/77 | €94 | -€26 | -€120 | |
| Profit (loss) for the period | 9904 | €58,204 | -€26,032 | -€84,236 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,204 | -€26,032 | -€84,236 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.