Apotheek Heulepark: what changed
What changed
Apotheek Heulepark
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€84,068
2024 · €80,205+€3,862
Equity
€297,528
2024 · €214,293+€83,235
Cash
€67,312
2024 · €138,476-€71,163
Balance sheet total
€1.1m
2024 · €1.1m-€32,255
Largest movements
Assets
- Current investments +€110,000
new in 2025: €110,000
- Cash -€71,163
down €71,163 (-51.4%), from €138,476 to €67,312
mainly Current investments (-€110,000) and Debts after one year (-€108,610)
- Intangible fixed assets -€54,000
down €54,000 (-26.7%), from €202,500 to €148,500
- Tangible fixed assets -€23,051
down €23,051 (-4.1%), from €567,368 to €544,318
of which Land and buildings: -€22,702
Equity and liabilities
- Debts after one year -€108,610
down €108,610 (-15.0%), from €722,752 to €614,142
of which Financial debts: -€95,664
- Reserves +€83,235
up €83,235 (+42.5%), from €195,693 to €278,928
- Other debts -€13,697
down €13,697 (-94.3%), from €14,530 to €833
Income statement
- Gross operating margin +€12,333
up €12,333 (+6.4%), from €192,307 to €204,640
- Taxes +€8,000
up €8,000 (+38.1%), from €20,975 to €28,975
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
€80,205
Gross operating margin
+€12,333
Depreciation
-€536
Other operating charges
-€421
Financial income
-€697
Financial charges
+€1,183
Taxes
-€8,000
Result 2025
€84,068
raises the resultlowers the result
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
+€147,871
Investment
-€110,708
Financing
-€108,326
Cash 2024
€138,476
From operations (derived)
+€147,871
Net result for the year
+€84,068
Depreciation
+€77,759
Stocks and contracts
+€501
Receivables within one year
-€5,125
Deferred charges and accrued income
-€1,335
Trade debts
+€9,788
Tax, wage and social debts
-€3,542
Other debts
-€13,697
Accrued charges and deferred income
-€547
Investment (derived)
-€110,708
Investment in fixed assets (net)
-€708
Current investments
-€110,000
Financing
-€108,326
Debts after one year
-€108,610
Current portion of long-term debt
+€1,117
Contributions, distributions and other
-€833
Cash 2025
€67,312
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,120,028 | €1,087,773 | -€32,255 | -2.9% |
| Fixed assets | 21/28 | €769,868 | €692,818 | -€77,051 | -10.0% |
| Intangible fixed assets | 21 | €202,500 | €148,500 | -€54,000 | -26.7% |
| Tangible fixed assets | 22/27 | €567,368 | €544,318 | -€23,051 | -4.1% |
| Land and buildings | 22 | €565,256 | €542,553 | -€22,702 | -4.0% |
| Plant, machinery and equipment | 23 | €1,797 | €1,078 | -€719 | -40.0% |
| Furniture and vehicles | 24 | €316 | €686 | +€370 | +117% |
| Current assets | 29/58 | €350,160 | €394,956 | +€44,796 | +12.8% |
| Stocks and contracts in progress | 3 | €116,519 | €116,019 | -€501 | -0.4% |
| Stocks | 30/36 | €116,519 | €116,019 | -€501 | -0.4% |
| Amounts receivable within one year | 40/41 | €94,200 | €99,325 | +€5,125 | +5.4% |
| Trade receivables | 40 | €93,745 | €66,505 | -€27,240 | -29.1% |
| Other amounts receivable | 41 | €455 | €32,820 | +€32,365 | +7,109% |
| Current investments | 50/53 | - | €110,000 | +€110,000 | |
| Cash at bank and in hand | 54/58 | €138,476 | €67,312 | -€71,163 | -51.4% |
| Deferred charges and accrued income | 490/1 | €965 | €2,299 | +€1,335 | +138% |
| Total equity and liabilities | 10/49 | €1,120,028 | €1,087,773 | -€32,255 | -2.9% |
| Equity | 10/15 | €214,293 | €297,528 | +€83,235 | +38.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €195,693 | €278,928 | +€83,235 | +42.5% |
| Distributable reserves | 133 | €195,693 | €278,928 | +€83,235 | +42.5% |
| Amounts payable | 17/49 | €905,736 | €790,246 | -€115,490 | -12.8% |
| Amounts payable after more than one year | 17 | €722,752 | €614,142 | -€108,610 | -15.0% |
| Financial debts | 170/4 | €659,806 | €564,142 | -€95,664 | -14.5% |
| Other amounts payable | 178/9 | €62,946 | €50,000 | -€12,946 | -20.6% |
| Amounts payable within one year | 42/48 | €182,197 | €175,864 | -€6,333 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €107,493 | €108,610 | +€1,117 | +1.0% |
| Trade debts | 44 | €50,976 | €60,764 | +€9,788 | +19.2% |
| Suppliers | 440/4 | €50,976 | €60,764 | +€9,788 | +19.2% |
| Advances received on contracts in progress | 46 | €218 | €218 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,980 | €5,439 | -€3,542 | -39.4% |
| Taxes | 450/3 | €8,980 | €5,439 | -€3,542 | -39.4% |
| Other amounts payable | 47/48 | €14,530 | €833 | -€13,697 | -94.3% |
| Accrued charges and deferred income | 492/3 | €787 | €240 | -€547 | -69.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,223 | €77,759 | +€536 | +0.7% |
| Other operating charges | 640/8 | €2,556 | €2,977 | +€421 | +16.5% |
| Gross operating margin | 9900 | €192,307 | €204,640 | +€12,333 | +6.4% |
| Operating profit (loss) | 9901 | €112,528 | €123,904 | +€11,376 | +10.1% |
| Financial income | 75/76B | €3,181 | €2,484 | -€697 | -21.9% |
| Recurring financial income | 75 | €3,181 | €2,484 | -€697 | -21.9% |
| Financial charges | 65/66B | €14,528 | €13,345 | -€1,183 | -8.1% |
| Recurring financial charges | 65 | €14,528 | €13,345 | -€1,183 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €101,180 | €113,042 | +€11,862 | +11.7% |
| Income taxes | 67/77 | €20,975 | €28,975 | +€8,000 | +38.1% |
| Profit (loss) for the period | 9904 | €80,205 | €84,068 | +€3,862 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,205 | €84,068 | +€3,862 | +4.8% |
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 4 November 2026 via checked.be.