apotheek Maes: what changed
What changed
apotheek Maes
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€77,550
2024 · €86,000-€8,451
Equity
€85,742
2024 · €83,192+€2,550
Cash
€143,478
2024 · €136,794+€6,683
Balance sheet total
€831,495
2024 · €832,665-€1,171
Largest movements
Assets
- Receivables within one year +€44,721
up €44,721 (+18.1%), from €247,290 to €292,011
of which Trade receivables: +€36,845
- Deferred charges and accrued income -€26,173
down €26,173 (-89.4%), from €29,284 to €3,111
- Tangible fixed assets -€20,597
down €20,597 (-51.7%), from €39,832 to €19,234
of which Other tangible fixed assets: -€20,482
Equity and liabilities
- Reserves +€71,482
up €71,482 (+3,843%), from €1,860 to €73,342
- Profit (loss) carried forward -€68,932
down €68,932 (-100%), from €68,932 to €0
- Debts after one year -€50,785
down €50,785 (-17.0%), from €298,743 to €247,958
- Trade debts +€27,531
up €27,531 (+10.9%), from €253,585 to €281,116
- Other debts +€26,468
up €26,468 (+24.0%), from €110,423 to €136,891
Income statement
- Gross operating margin -€15,392
down €15,392 (-5.0%), from €305,427 to €290,035
- Staff costs -€8,958
down €8,958 (-4.8%), from €186,698 to €177,740
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
€86,000
Gross operating margin
-€15,392
Staff costs
+€8,958
Depreciation
-€72
Other operating charges
+€60
Financial income
+€1,058
Financial charges
-€3,022
Taxes
-€41
Result 2025
€77,550
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
+€133,009
Investment
€0
Financing
-€126,325
Cash 2024
€136,794
From operations (derived)
+€133,009
Net result for the year
+€77,550
Depreciation
+€20,597
Stocks and contracts
+€5,804
Receivables within one year
-€44,721
Deferred charges and accrued income
+€26,173
Trade debts
+€27,531
Tax, wage and social debts
-€6,394
Other debts
+€26,468
Financing
-€126,325
Debts after one year
-€50,785
Current portion of long-term debt
+€1,538
Short-term financial debts
-€2,078
Contributions, distributions and other
-€75,000
Cash 2025
€143,478
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €832,665 | €831,495 | -€1,171 | -0.1% |
| Fixed assets | 21/28 | €286,148 | €265,550 | -€20,597 | -7.2% |
| Tangible fixed assets | 22/27 | €39,832 | €19,234 | -€20,597 | -51.7% |
| Plant, machinery and equipment | 23 | €303 | - | -€303 | |
| Furniture and vehicles | 24 | - | €188 | +€188 | |
| Other tangible fixed assets | 26 | €39,529 | €19,047 | -€20,482 | -51.8% |
| Financial fixed assets | 28 | €246,316 | €246,316 | = | 0.0% |
| Current assets | 29/58 | €546,517 | €565,944 | +€19,427 | +3.6% |
| Stocks and contracts in progress | 3 | €128,149 | €122,345 | -€5,804 | -4.5% |
| Stocks | 30/36 | €128,149 | €122,345 | -€5,804 | -4.5% |
| Amounts receivable within one year | 40/41 | €247,290 | €292,011 | +€44,721 | +18.1% |
| Trade receivables | 40 | €119,607 | €156,452 | +€36,845 | +30.8% |
| Other amounts receivable | 41 | €127,683 | €135,559 | +€7,876 | +6.2% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €136,794 | €143,478 | +€6,683 | +4.9% |
| Deferred charges and accrued income | 490/1 | €29,284 | €3,111 | -€26,173 | -89.4% |
| Total equity and liabilities | 10/49 | €832,665 | €831,495 | -€1,171 | -0.1% |
| Equity | 10/15 | €83,192 | €85,742 | +€2,550 | +3.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €73,342 | +€71,482 | +3,843% |
| Distributable reserves | 133 | €1,860 | €73,342 | +€71,482 | +3,843% |
| Profit (loss) carried forward | 14 | €68,932 | €0 | -€68,932 | -100% |
| Amounts payable | 17/49 | €749,473 | €745,753 | -€3,720 | -0.5% |
| Amounts payable after more than one year | 17 | €298,743 | €247,958 | -€50,785 | -17.0% |
| Financial debts | 170/4 | €298,743 | €247,958 | -€50,785 | -17.0% |
| Amounts payable within one year | 42/48 | €450,729 | €497,794 | +€47,065 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €49,065 | €50,603 | +€1,538 | +3.1% |
| Financial debts | 43 | €2,500 | €422 | -€2,078 | -83.1% |
| Credit institutions | 430/8 | €2,500 | €422 | -€2,078 | -83.1% |
| Trade debts | 44 | €253,585 | €281,116 | +€27,531 | +10.9% |
| Suppliers | 440/4 | €253,585 | €281,116 | +€27,531 | +10.9% |
| Taxes, remuneration and social security | 45 | €35,156 | €28,762 | -€6,394 | -18.2% |
| Taxes | 450/3 | €6,779 | €5,626 | -€1,154 | -17.0% |
| Remuneration and social security | 454/9 | €28,377 | €23,136 | -€5,240 | -18.5% |
| Other amounts payable | 47/48 | €110,423 | €136,891 | +€26,468 | +24.0% |
| Remuneration, social security and pensions | 62 | €186,698 | €177,740 | -€8,958 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,525 | €20,597 | +€72 | +0.4% |
| Other operating charges | 640/8 | €1,467 | €1,407 | -€60 | -4.1% |
| Gross operating margin | 9900 | €305,427 | €290,035 | -€15,392 | -5.0% |
| Operating profit (loss) | 9901 | €96,737 | €90,291 | -€6,446 | -6.7% |
| Financial income | 75/76B | €4,846 | €5,903 | +€1,058 | +21.8% |
| Recurring financial income | 75 | €2,849 | €5,903 | +€3,054 | +107% |
| Non-recurring financial income | 76B | €1,997 | €0 | -€1,997 | -100% |
| Financial charges | 65/66B | €9,741 | €12,763 | +€3,022 | +31.0% |
| Recurring financial charges | 65 | €9,741 | €12,763 | +€3,022 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €91,842 | €83,432 | -€8,410 | -9.2% |
| Income taxes | 67/77 | €5,842 | €5,882 | +€41 | +0.7% |
| Profit (loss) for the period | 9904 | €86,000 | €77,550 | -€8,451 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €86,000 | €77,550 | -€8,451 | -9.8% |
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 2 November 2026 via checked.be.