APOTHEEK MAHIEU: what changed
What changed
APOTHEEK MAHIEU
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€153,566
2024 · €163,782-€10,216
Equity
€1.7m
2024 · €1.7m+€11,376
Cash
€493,492
2024 · €459,667+€33,824
Balance sheet total
€2.3m
2024 · €2.3m+€8,912
Largest movements
Assets
- Cash +€33,824
up €33,824 (+7.4%), from €459,667 to €493,492
mainly Net result for the year (+€153,566) and Other debts (+€137,158)
- Tangible fixed assets -€32,501
down €32,501 (-7.3%), from €447,162 to €414,661
of which Land and buildings: -€65,879
Equity and liabilities
- Other debts +€137,158
up €137,158 (+119%), from €115,031 to €252,189
- Debts after one year -€85,274
down €85,274 (-69.5%), from €122,774 to €37,500
- Trade debts -€25,387
down €25,387 (-9.4%), from €269,754 to €244,368
- Current portion of long-term debt -€25,000
down €25,000 (-50.0%), from €50,000 to €25,000
Income statement
- Depreciation +€12,628
up €12,628 (+14.3%), from €88,564 to €101,192
- Staff costs +€7,578
up €7,578 (+2.5%), from €302,710 to €310,288
- Taxes -€6,751
down €6,751 (-8.7%), from €77,878 to €71,127
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
€163,782
Gross operating margin
+€2,158
Staff costs
-€7,578
Depreciation
-€12,628
Other operating charges
-€168
Financial income
-€1,920
Financial charges
+€3,169
Taxes
+€6,751
Result 2025
€153,566
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
+€339,782
Investment
-€53,494
Financing
-€252,463
Cash 2024
€459,667
From operations (derived)
+€339,782
Net result for the year
+€153,566
Depreciation
+€101,192
Stocks and contracts
-€866
Receivables within one year
-€22,442
Deferred charges and accrued income
+€524
Trade debts
-€25,387
Tax, wage and social debts
-€5,871
Other debts
+€137,158
Accrued charges and deferred income
+€1,908
Investment (derived)
-€53,494
Investment in fixed assets (net)
-€63,096
Current investments
+€9,602
Financing
-€252,463
Debts after one year
-€85,274
Current portion of long-term debt
-€25,000
Contributions, distributions and other
-€142,190
Cash 2025
€493,492
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,323,028 | €2,331,940 | +€8,912 | +0.4% |
| Fixed assets | 21/28 | €462,086 | €423,990 | -€38,095 | -8.2% |
| Intangible fixed assets | 21 | €14,924 | €9,329 | -€5,595 | -37.5% |
| Tangible fixed assets | 22/27 | €447,162 | €414,661 | -€32,501 | -7.3% |
| Land and buildings | 22 | €422,595 | €356,716 | -€65,879 | -15.6% |
| Plant, machinery and equipment | 23 | €16,883 | €9,404 | -€7,479 | -44.3% |
| Furniture and vehicles | 24 | €7,684 | €48,541 | +€40,858 | +532% |
| Current assets | 29/58 | €1,860,942 | €1,907,949 | +€47,007 | +2.5% |
| Amounts receivable after more than one year | 29 | €550,000 | €550,000 | = | 0.0% |
| Other amounts receivable | 291 | €550,000 | €550,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €440,065 | €440,932 | +€866 | +0.2% |
| Stocks | 30/36 | €440,065 | €440,932 | +€866 | +0.2% |
| Amounts receivable within one year | 40/41 | €283,537 | €305,979 | +€22,442 | +7.9% |
| Trade receivables | 40 | €164,109 | €160,347 | -€3,762 | -2.3% |
| Other amounts receivable | 41 | €119,428 | €145,632 | +€26,204 | +21.9% |
| Current investments | 50/53 | €105,556 | €95,954 | -€9,602 | -9.1% |
| Cash at bank and in hand | 54/58 | €459,667 | €493,492 | +€33,824 | +7.4% |
| Deferred charges and accrued income | 490/1 | €22,117 | €21,593 | -€524 | -2.4% |
| Total equity and liabilities | 10/49 | €2,323,028 | €2,331,940 | +€8,912 | +0.4% |
| Equity | 10/15 | €1,712,063 | €1,723,440 | +€11,376 | +0.7% |
| Contributions | 10/11 | €17,240 | €17,240 | = | 0.0% |
| Reserves | 13 | €1,694,823 | €1,706,199 | +€11,376 | +0.7% |
| Tax-exempt reserves | 132 | €555 | €555 | = | 0.0% |
| Distributable reserves | 133 | €1,694,268 | €1,705,644 | +€11,376 | +0.7% |
| Amounts payable | 17/49 | €610,965 | €608,500 | -€2,465 | -0.4% |
| Amounts payable after more than one year | 17 | €122,774 | €37,500 | -€85,274 | -69.5% |
| Financial debts | 170/4 | €122,774 | €37,500 | -€85,274 | -69.5% |
| Amounts payable within one year | 42/48 | €485,649 | €566,549 | +€80,901 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €25,000 | -€25,000 | -50.0% |
| Trade debts | 44 | €269,754 | €244,368 | -€25,387 | -9.4% |
| Suppliers | 440/4 | €269,754 | €244,368 | -€25,387 | -9.4% |
| Taxes, remuneration and social security | 45 | €50,864 | €44,992 | -€5,871 | -11.5% |
| Taxes | 450/3 | €1,537 | €1,537 | = | 0.0% |
| Remuneration and social security | 454/9 | €49,327 | €43,456 | -€5,871 | -11.9% |
| Other amounts payable | 47/48 | €115,031 | €252,189 | +€137,158 | +119% |
| Accrued charges and deferred income | 492/3 | €2,542 | €4,450 | +€1,908 | +75.1% |
| Remuneration, social security and pensions | 62 | €302,710 | €310,288 | +€7,578 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,564 | €101,192 | +€12,628 | +14.3% |
| Other operating charges | 640/8 | €5,893 | €6,061 | +€168 | +2.8% |
| Gross operating margin | 9900 | €620,570 | €622,727 | +€2,158 | +0.3% |
| Operating profit (loss) | 9901 | €223,403 | €205,187 | -€18,216 | -8.2% |
| Financial income | 75/76B | €31,511 | €29,591 | -€1,920 | -6.1% |
| Recurring financial income | 75 | €31,511 | €29,591 | -€1,920 | -6.1% |
| Financial charges | 65/66B | €13,254 | €10,085 | -€3,169 | -23.9% |
| Recurring financial charges | 65 | €13,254 | €10,085 | -€3,169 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €241,660 | €224,693 | -€16,967 | -7.0% |
| Income taxes | 67/77 | €77,878 | €71,127 | -€6,751 | -8.7% |
| Profit (loss) for the period | 9904 | €163,782 | €153,566 | -€10,216 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,782 | €153,566 | -€10,216 | -6.2% |
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 8 November 2026 via checked.be.