APOTHEEK PICARD: 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 PICARD
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€51,528
2024 · €42,027+€9,501
Equity
€57,950
2024 · €46,422+€11,528
Cash
€59,340
2024 · €57,547+€1,793
Balance sheet total
€704,351
2024 · €744,538-€40,188
Largest movements
Assets
- Tangible fixed assets -€50,007
down €50,007 (-14.4%), from €348,273 to €298,267
of which Plant, machinery and equipment: -€30,501
Equity and liabilities
- Debts after one year -€57,739
down €57,739 (-16.9%), from €341,893 to €284,154
- Trade debts -€14,117
down €14,117 (-21.2%), from €66,506 to €52,389
- Other debts +€11,678
up €11,678 (+5.2%), from €223,135 to €234,812
- Profit (loss) carried forward +€11,528
up €11,528 (+13.9%), from -€83,180 to -€71,652
Income statement
- Staff costs -€12,870
down €12,870 (-82.2%), from €15,664 to €2,794
- Gross operating margin -€9,875
down €9,875 (-6.3%), from €158,002 to €148,126
- Taxes -€2,641
down €2,641 (-27.0%), from €9,793 to €7,152
- Financial charges -€2,044
down €2,044 (-5.8%), from €35,038 to €32,994
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
€42,027
Gross operating margin
-€9,875
Staff costs
+€12,870
Depreciation
+€1,439
Other operating charges
-€146
Financial income
+€528
Financial charges
+€2,044
Taxes
+€2,641
Result 2025
€51,528
raises the resultlowers the result
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
+€104,966
Investment
-€6,515
Financing
-€96,657
Cash 2024
€57,547
From operations (derived)
+€104,966
Net result for the year
+€51,528
Depreciation
+€56,522
Stocks and contracts
-€1,622
Receivables within one year
-€1,336
Deferred charges and accrued income
-€5,068
Trade debts
-€14,117
Tax, wage and social debts
+€7,382
Other debts
+€11,678
Investment (derived)
-€6,515
Investment in fixed assets (net)
-€6,515
Financing
-€96,657
Debts after one year
-€57,739
Current portion of long-term debt
+€1,081
Contributions, distributions and other
-€40,000
Cash 2025
€59,340
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €744,538 | €704,351 | -€40,188 | -5.4% |
| Fixed assets | 21/28 | €353,273 | €303,267 | -€50,007 | -14.2% |
| Tangible fixed assets | 22/27 | €348,273 | €298,267 | -€50,007 | -14.4% |
| Land and buildings | 22 | €121,337 | €107,855 | -€13,482 | -11.1% |
| Plant, machinery and equipment | 23 | €214,753 | €184,252 | -€30,501 | -14.2% |
| Furniture and vehicles | 24 | €12,183 | €6,160 | -€6,023 | -49.4% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €391,265 | €401,084 | +€9,819 | +2.5% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €153,167 | €154,789 | +€1,622 | +1.1% |
| Stocks | 30/36 | €153,167 | €154,789 | +€1,622 | +1.1% |
| Amounts receivable within one year | 40/41 | €108,645 | €109,981 | +€1,336 | +1.2% |
| Trade receivables | 40 | €71,098 | €79,239 | +€8,141 | +11.5% |
| Other amounts receivable | 41 | €37,546 | €30,741 | -€6,805 | -18.1% |
| Cash at bank and in hand | 54/58 | €57,547 | €59,340 | +€1,793 | +3.1% |
| Deferred charges and accrued income | 490/1 | €11,906 | €16,974 | +€5,068 | +42.6% |
| Total equity and liabilities | 10/49 | €744,538 | €704,351 | -€40,188 | -5.4% |
| Equity | 10/15 | €46,422 | €57,950 | +€11,528 | +24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,002 | €111,002 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €109,142 | €109,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,180 | -€71,652 | +€11,528 | +13.9% |
| Amounts payable | 17/49 | €698,116 | €646,401 | -€51,715 | -7.4% |
| Amounts payable after more than one year | 17 | €341,893 | €284,154 | -€57,739 | -16.9% |
| Financial debts | 170/4 | €341,893 | €284,154 | -€57,739 | -16.9% |
| Amounts payable within one year | 42/48 | €351,733 | €357,757 | +€6,023 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €56,657 | €57,739 | +€1,081 | +1.9% |
| Trade debts | 44 | €66,506 | €52,389 | -€14,117 | -21.2% |
| Suppliers | 440/4 | €66,506 | €52,389 | -€14,117 | -21.2% |
| Taxes, remuneration and social security | 45 | €5,434 | €12,816 | +€7,382 | +136% |
| Taxes | 450/3 | €5,434 | €12,816 | +€7,382 | +136% |
| Other amounts payable | 47/48 | €223,135 | €234,812 | +€11,678 | +5.2% |
| Accrued charges and deferred income | 492/3 | €4,491 | €4,491 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €15,664 | €2,794 | -€12,870 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,961 | €56,522 | -€1,439 | -2.5% |
| Other operating charges | 640/8 | €95 | €241 | +€146 | +154% |
| Gross operating margin | 9900 | €158,002 | €148,126 | -€9,875 | -6.3% |
| Operating profit (loss) | 9901 | €84,281 | €88,569 | +€4,288 | +5.1% |
| Financial income | 75/76B | €2,578 | €3,105 | +€528 | +20.5% |
| Recurring financial income | 75 | €2,578 | €3,105 | +€528 | +20.5% |
| Financial charges | 65/66B | €35,038 | €32,994 | -€2,044 | -5.8% |
| Recurring financial charges | 65 | €35,038 | €32,994 | -€2,044 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €51,820 | €58,680 | +€6,859 | +13.2% |
| Income taxes | 67/77 | €9,793 | €7,152 | -€2,641 | -27.0% |
| Profit (loss) for the period | 9904 | €42,027 | €51,528 | +€9,501 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,027 | €51,528 | +€9,501 | +22.6% |
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 25 October 2026 via checked.be.