Apotheek Noben: 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 Noben
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€60,536
2024 · €28,978+€31,557
Equity
€163,567
2024 · €163,531+€36
Cash
€79,411
2024 · €75,798+€3,613
Balance sheet total
€536,605
2024 · €559,516-€22,911
Largest movements
Assets
- Tangible fixed assets -€32,002
down €32,002 (-11.9%), from €268,728 to €236,726
of which Plant, machinery and equipment: -€27,433
- Stocks and contracts +€10,237
up €10,237 (+7.5%), from €136,564 to €146,800
Equity and liabilities
- Debts after one year -€30,182
down €30,182 (-15.4%), from €195,450 to €165,268
- Other debts +€12,507
up €12,507 (+17.6%), from €71,252 to €83,759
- Current portion of long-term debt -€10,639
down €10,639 (-18.7%), from €56,821 to €46,182
Income statement
- Gross operating margin +€41,942
up €41,942 (+45.2%), from €92,721 to €134,663
- Staff costs +€15,656
up €15,656 (+84.6%), from €18,517 to €34,174
- Taxes -€6,740
down €6,740 (-88.1%), from €7,654 to €914
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
€28,978
Gross operating margin
+€41,942
Staff costs
-€15,656
Depreciation
-€886
Other operating charges
-€225
Other operating items
-€1,269
Financial income
-€213
Financial charges
+€1,126
Taxes
+€6,740
Result 2025
€60,536
raises the resultlowers the resultnot broken down further in the accounts
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
+€106,855
Investment
-€1,920
Financing
-€101,321
Cash 2024
€75,798
From operations (derived)
+€106,855
Net result for the year
+€60,536
Depreciation
+€33,922
Stocks and contracts
-€10,237
Receivables within one year
+€4,446
Deferred charges and accrued income
+€313
Trade debts
+€4,325
Tax, wage and social debts
+€2,342
Other debts
+€12,507
Accrued charges and deferred income
-€1,299
Investment (derived)
-€1,920
Investment in fixed assets (net)
-€1,920
Financing
-€101,321
Debts after one year
-€30,182
Current portion of long-term debt
-€10,639
Contributions, distributions and other
-€60,500
Cash 2025
€79,411
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €559,516 | €536,605 | -€22,911 | -4.1% |
| Fixed assets | 21/28 | €272,888 | €240,887 | -€32,002 | -11.7% |
| Tangible fixed assets | 22/27 | €268,728 | €236,726 | -€32,002 | -11.9% |
| Land and buildings | 22 | €74,007 | €68,056 | -€5,950 | -8.0% |
| Plant, machinery and equipment | 23 | €194,722 | €167,289 | -€27,433 | -14.1% |
| Furniture and vehicles | 24 | - | €1,382 | +€1,382 | |
| Financial fixed assets | 28 | €4,160 | €4,160 | = | 0.0% |
| Current assets | 29/58 | €286,628 | €295,719 | +€9,091 | +3.2% |
| Stocks and contracts in progress | 3 | €136,564 | €146,800 | +€10,237 | +7.5% |
| Stocks | 30/36 | €136,564 | €146,800 | +€10,237 | +7.5% |
| Amounts receivable within one year | 40/41 | €66,220 | €61,774 | -€4,446 | -6.7% |
| Trade receivables | 40 | €60,395 | €59,496 | -€898 | -1.5% |
| Other amounts receivable | 41 | €5,825 | €2,278 | -€3,547 | -60.9% |
| Cash at bank and in hand | 54/58 | €75,798 | €79,411 | +€3,613 | +4.8% |
| Deferred charges and accrued income | 490/1 | €8,046 | €7,733 | -€313 | -3.9% |
| Total equity and liabilities | 10/49 | €559,516 | €536,605 | -€22,911 | -4.1% |
| Equity | 10/15 | €163,531 | €163,567 | +€36 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €144,931 | €144,967 | +€36 | 0.0% |
| Distributable reserves | 133 | €144,931 | €144,967 | +€36 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €395,985 | €373,038 | -€22,947 | -5.8% |
| Amounts payable after more than one year | 17 | €195,450 | €165,268 | -€30,182 | -15.4% |
| Financial debts | 170/4 | €195,450 | €165,268 | -€30,182 | -15.4% |
| Amounts payable within one year | 42/48 | €196,522 | €205,057 | +€8,535 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €56,821 | €46,182 | -€10,639 | -18.7% |
| Trade debts | 44 | €67,237 | €71,562 | +€4,325 | +6.4% |
| Suppliers | 440/4 | €67,237 | €71,562 | +€4,325 | +6.4% |
| Taxes, remuneration and social security | 45 | €1,211 | €3,554 | +€2,342 | +193% |
| Taxes | 450/3 | €23 | €923 | +€900 | +3,963% |
| Remuneration and social security | 454/9 | €1,189 | €2,631 | +€1,442 | +121% |
| Other amounts payable | 47/48 | €71,252 | €83,759 | +€12,507 | +17.6% |
| Accrued charges and deferred income | 492/3 | €4,013 | €2,713 | -€1,299 | -32.4% |
| Remuneration, social security and pensions | 62 | €18,517 | €34,174 | +€15,656 | +84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,035 | €33,922 | +€886 | +2.7% |
| Other operating charges | 640/8 | €449 | €675 | +€225 | +50.2% |
| Non-recurring operating charges | 66A | - | €1,269 | +€1,269 | |
| Gross operating margin | 9900 | €92,721 | €134,663 | +€41,942 | +45.2% |
| Operating profit (loss) | 9901 | €40,719 | €64,624 | +€23,905 | +58.7% |
| Financial income | 75/76B | €1,381 | €1,168 | -€213 | -15.4% |
| Recurring financial income | 75 | €1,381 | €1,168 | -€213 | -15.4% |
| Financial charges | 65/66B | €5,468 | €4,342 | -€1,126 | -20.6% |
| Recurring financial charges | 65 | €5,468 | €4,342 | -€1,126 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €36,632 | €61,450 | +€24,818 | +67.7% |
| Income taxes | 67/77 | €7,654 | €914 | -€6,740 | -88.1% |
| Profit (loss) for the period | 9904 | €28,978 | €60,536 | +€31,557 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €28,978 | €60,536 | +€31,557 | +109% |
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 17 October 2026 via checked.be.