APOTHEEK MAST: 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.
APOTHEEK MAST
Largest movements
- Cash +€27,939
up €27,939 (+31.9%), from €87,667 to €115,606
mainly Net result for the year (+€88,718) and Debts after one year (+€16,222)
- Tangible fixed assets +€16,251
up €16,251 (+102%), from €15,943 to €32,194
of which Plant, machinery and equipment: +€16,433
- Stocks and contracts +€16,002
up €16,002 (+7.1%), from €226,781 to €242,783
- Reserves +€59,483
up €59,483 (+18.6%), from €320,664 to €380,147
- Current portion of long-term debt -€18,605
down €18,605 (-69.6%), from €26,718 to €8,113
- Debts after one year +€16,222
up €16,222, from €0 to €16,222
- Trade debts +€13,180
up €13,180 (+16.2%), from €81,533 to €94,713
- Other debts -€10,509
down €10,509 (-10.7%), from €98,396 to €87,888
- Depreciation -€53,422
down €53,422 (-91.1%), from €58,656 to €5,234
- Gross operating margin -€20,251
down €20,251 (-10.4%), from €195,271 to €175,020
- Taxes +€8,004
up €8,004 (+32.7%), from €24,477 to €32,481
- Financial charges +€4,559
up €4,559 (+135%), from €3,386 to €7,945
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €581,570 | €635,915 | +€54,346 | +9.3% |
| Fixed assets | 21/28 | €15,943 | €32,194 | +€16,251 | +102% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €15,943 | €32,194 | +€16,251 | +102% |
| Plant, machinery and equipment | 23 | €15,562 | €31,995 | +€16,433 | +106% |
| Furniture and vehicles | 24 | €381 | €199 | -€182 | -47.7% |
| Current assets | 29/58 | €565,626 | €603,721 | +€38,095 | +6.7% |
| Stocks and contracts in progress | 3 | €226,781 | €242,783 | +€16,002 | +7.1% |
| Stocks | 30/36 | €226,781 | €242,783 | +€16,002 | +7.1% |
| Amounts receivable within one year | 40/41 | €155,044 | €151,505 | -€3,539 | -2.3% |
| Trade receivables | 40 | €77,050 | €72,716 | -€4,334 | -5.6% |
| Other amounts receivable | 41 | €77,994 | €78,789 | +€795 | +1.0% |
| Current investments | 50/53 | €95,120 | €92,644 | -€2,476 | -2.6% |
| Cash at bank and in hand | 54/58 | €87,667 | €115,606 | +€27,939 | +31.9% |
| Deferred charges and accrued income | 490/1 | €1,014 | €1,183 | +€169 | +16.6% |
| Total equity and liabilities | 10/49 | €581,570 | €635,915 | +€54,346 | +9.3% |
| Equity | 10/15 | €339,214 | €398,697 | +€59,483 | +17.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €320,664 | €380,147 | +€59,483 | +18.6% |
| Distributable reserves | 133 | €320,664 | €380,147 | +€59,483 | +18.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €242,356 | €237,218 | -€5,138 | -2.1% |
| Amounts payable after more than one year | 17 | €0 | €16,222 | +€16,222 | |
| Financial debts | 170/4 | €0 | €16,222 | +€16,222 | |
| Amounts payable within one year | 42/48 | €238,742 | €217,010 | -€21,732 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €26,718 | €8,113 | -€18,605 | -69.6% |
| Trade debts | 44 | €81,533 | €94,713 | +€13,180 | +16.2% |
| Suppliers | 440/4 | €81,533 | €94,713 | +€13,180 | +16.2% |
| Taxes, remuneration and social security | 45 | €32,094 | €26,296 | -€5,798 | -18.1% |
| Taxes | 450/3 | €20,978 | €17,158 | -€3,820 | -18.2% |
| Remuneration and social security | 454/9 | €11,116 | €9,138 | -€1,979 | -17.8% |
| Other amounts payable | 47/48 | €98,396 | €87,888 | -€10,509 | -10.7% |
| Accrued charges and deferred income | 492/3 | €3,614 | €3,987 | +€373 | +10.3% |
| Remuneration, social security and pensions | 62 | €49,953 | €48,973 | -€981 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,656 | €5,234 | -€53,422 | -91.1% |
| Other operating charges | 640/8 | €142 | €172 | +€30 | +20.8% |
| Gross operating margin | 9900 | €195,271 | €175,020 | -€20,251 | -10.4% |
| Operating profit (loss) | 9901 | €86,520 | €120,641 | +€34,121 | +39.4% |
| Financial income | 75/76B | €9,878 | €8,502 | -€1,376 | -13.9% |
| Recurring financial income | 75 | €9,878 | €8,502 | -€1,376 | -13.9% |
| Financial charges | 65/66B | €3,386 | €7,945 | +€4,559 | +135% |
| Recurring financial charges | 65 | €3,386 | €7,945 | +€4,559 | +135% |
| Profit (loss) for the period before taxes | 9903 | €93,011 | €121,199 | +€28,187 | +30.3% |
| Income taxes | 67/77 | €24,477 | €32,481 | +€8,004 | +32.7% |
| Profit (loss) for the period | 9904 | €68,535 | €88,718 | +€20,183 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,535 | €88,718 | +€20,183 | +29.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.