APOTHEEK GERAERTS: 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 GERAERTS
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€155,246
2024 · €114,111+€41,135
Equity
€371,312
2024 · €371,066+€246
Cash
€191,068
2024 · €183,363+€7,704
Balance sheet total
€817,921
2024 · €796,095+€21,826
Largest movements
Assets
- Stocks and contracts +€9,598
up €9,598 (+8.6%), from €111,199 to €120,798
- Receivables within one year +€9,189
up €9,189 (+2.0%), from €452,157 to €461,346
of which Trade receivables: +€27,557
Equity and liabilities
- Other debts +€42,588
up €42,588 (+37.8%), from €112,624 to €155,211
- Debts after one year -€40,308
down €40,308 (-84.4%), from €47,741 to €7,432
- Trade debts +€18,369
up €18,369 (+25.3%), from €72,468 to €90,836
Income statement
- Turnover +€240,921
up €240,921 (+11.9%), from €2.0m to €2.3m
- Purchases and services +€239,175
up €239,175 (+14.1%), from €1.7m to €1.9m
- Staff costs -€44,095
down €44,095 (-21.6%), from €203,881 to €159,786
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
€114,111
Gross operating margin
-€795
Staff costs
+€44,095
Depreciation
+€302
Other operating charges
+€454
Financial income
-€1,234
Financial charges
-€1,664
Taxes
-€24
Result 2025
€155,246
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
+€205,437
Investment
-€2,696
Financing
-€195,036
Cash 2024
€183,363
From operations (derived)
+€205,437
Net result for the year
+€155,246
Depreciation
+€10,224
Stocks and contracts
-€9,598
Receivables within one year
-€9,189
Deferred charges and accrued income
-€2,862
Trade debts
+€18,369
Tax, wage and social debts
+€3,120
Other debts
+€42,588
Accrued charges and deferred income
-€2,461
Investment (derived)
-€2,696
Investment in fixed assets (net)
-€2,696
Financing
-€195,036
Debts after one year
-€40,308
Current portion of long-term debt
+€272
Contributions, distributions and other
-€155,000
Cash 2025
€191,068
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €796,095 | €817,921 | +€21,826 | +2.7% |
| Fixed assets | 21/28 | €28,585 | €21,057 | -€7,528 | -26.3% |
| Tangible fixed assets | 22/27 | €24,441 | €16,913 | -€7,528 | -30.8% |
| Land and buildings | 22 | €7,285 | €3,023 | -€4,262 | -58.5% |
| Plant, machinery and equipment | 23 | €7,535 | €7,627 | +€92 | +1.2% |
| Furniture and vehicles | 24 | €9,621 | €6,262 | -€3,359 | -34.9% |
| Financial fixed assets | 28 | €4,144 | €4,144 | = | 0.0% |
| Current assets | 29/58 | €767,510 | €796,864 | +€29,354 | +3.8% |
| Stocks and contracts in progress | 3 | €111,199 | €120,798 | +€9,598 | +8.6% |
| Stocks | 30/36 | €111,199 | €120,798 | +€9,598 | +8.6% |
| Amounts receivable within one year | 40/41 | €452,157 | €461,346 | +€9,189 | +2.0% |
| Trade receivables | 40 | €162,680 | €190,237 | +€27,557 | +16.9% |
| Other amounts receivable | 41 | €289,478 | €271,110 | -€18,368 | -6.3% |
| Cash at bank and in hand | 54/58 | €183,363 | €191,068 | +€7,704 | +4.2% |
| Deferred charges and accrued income | 490/1 | €20,790 | €23,653 | +€2,862 | +13.8% |
| Total equity and liabilities | 10/49 | €796,095 | €817,921 | +€21,826 | +2.7% |
| Equity | 10/15 | €371,066 | €371,312 | +€246 | +0.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €352,516 | €352,762 | +€246 | +0.1% |
| Tax-exempt reserves | 132 | €19,975 | €19,975 | = | 0.0% |
| Distributable reserves | 133 | €332,541 | €332,787 | +€246 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €425,030 | €446,609 | +€21,580 | +5.1% |
| Amounts payable after more than one year | 17 | €47,741 | €7,432 | -€40,308 | -84.4% |
| Financial debts | 170/4 | €47,741 | €7,432 | -€40,308 | -84.4% |
| Amounts payable within one year | 42/48 | €372,727 | €437,076 | +€64,349 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €10,545 | €10,817 | +€272 | +2.6% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €72,468 | €90,836 | +€18,369 | +25.3% |
| Suppliers | 440/4 | €72,468 | €90,836 | +€18,369 | +25.3% |
| Taxes, remuneration and social security | 45 | €27,092 | €30,212 | +€3,120 | +11.5% |
| Taxes | 450/3 | €192 | €437 | +€245 | +128% |
| Remuneration and social security | 454/9 | €26,900 | €29,775 | +€2,875 | +10.7% |
| Other amounts payable | 47/48 | €112,624 | €155,211 | +€42,588 | +37.8% |
| Accrued charges and deferred income | 492/3 | €4,562 | €2,101 | -€2,461 | -54.0% |
| Turnover | 70 | €2,027,967 | €2,268,888 | +€240,921 | +11.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,697,615 | €1,936,789 | +€239,175 | +14.1% |
| Remuneration, social security and pensions | 62 | €203,881 | €159,786 | -€44,095 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,526 | €10,224 | -€302 | -2.9% |
| Other operating charges | 640/8 | €3,814 | €3,359 | -€454 | -11.9% |
| Gross operating margin | 9900 | €342,697 | €341,901 | -€795 | -0.2% |
| Operating profit (loss) | 9901 | €124,476 | €168,532 | +€44,057 | +35.4% |
| Financial income | 75/76B | €3,551 | €2,317 | -€1,234 | -34.7% |
| Recurring financial income | 75 | €3,551 | €2,317 | -€1,234 | -34.7% |
| Financial charges | 65/66B | €13,694 | €15,358 | +€1,664 | +12.2% |
| Recurring financial charges | 65 | €13,694 | €15,358 | +€1,664 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €114,333 | €155,491 | +€41,159 | +36.0% |
| Income taxes | 67/77 | €222 | €245 | +€24 | +10.7% |
| Profit (loss) for the period | 9904 | €114,111 | €155,246 | +€41,135 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,111 | €155,246 | +€41,135 | +36.0% |
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 27 October 2026 via checked.be.