Apotheek Pijpelheide: 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 Pijpelheide
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€146,098
2024 · €184,302-€38,203
Equity
€646,555
2024 · €587,957+€58,598
Cash
€284,679
2024 · €429,945-€145,266
Balance sheet total
€1.2m
2024 · €1.1m+€28,027
Largest movements
Assets
- Current investments +€163,543
new in 2025: €163,543
- Cash -€145,266
down €145,266 (-33.8%), from €429,945 to €284,679
mainly Current investments (-€163,543) and Contributions, distributions and other (-€87,500)
Equity and liabilities
- Profit (loss) carried forward +€58,598
up €58,598 (+12.6%), from €464,937 to €523,535
- Debts after one year -€23,906
down €23,906 (-8.8%), from €271,003 to €247,097
- Other debts -€22,611
down €22,611 (-20.5%), from €110,111 to €87,500
- Trade debts +€13,996
up €13,996 (+12.1%), from €115,254 to €129,249
Income statement
- Gross operating margin -€38,623
down €38,623 (-9.4%), from €409,137 to €370,514
- Taxes -€5,541
down €5,541 (-21.0%), from €26,429 to €20,887
- Staff costs +€4,212
up €4,212 (+3.3%), from €129,449 to €133,661
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
€184,302
Gross operating margin
-€38,623
Staff costs
-€4,212
Depreciation
-€298
Other operating charges
-€17
Financial income
+€2,347
Financial charges
-€2,943
Taxes
+€5,541
Result 2025
€146,098
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
+€168,028
Investment
-€202,328
Financing
-€110,966
Cash 2024
€429,945
From operations (derived)
+€168,028
Net result for the year
+€146,098
Depreciation
+€36,543
Stocks and contracts
-€3,058
Receivables within one year
-€4,490
Deferred charges and accrued income
+€40
Trade debts
+€13,996
Tax, wage and social debts
-€2,985
Other debts
-€22,611
Accrued charges and deferred income
+€4,495
Investment (derived)
-€202,328
Investment in fixed assets (net)
-€38,785
Current investments
-€163,543
Financing
-€110,966
Debts after one year
-€23,906
Current portion of long-term debt
+€440
Contributions, distributions and other
-€87,500
Cash 2025
€284,679
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,135,421 | €1,163,448 | +€28,027 | +2.5% |
| Fixed assets | 21/28 | €296,174 | €298,416 | +€2,241 | +0.8% |
| Tangible fixed assets | 22/27 | €289,145 | €291,387 | +€2,241 | +0.8% |
| Land and buildings | 22 | €184,937 | €176,566 | -€8,371 | -4.5% |
| Plant, machinery and equipment | 23 | €101,325 | €113,272 | +€11,947 | +11.8% |
| Furniture and vehicles | 24 | €2,883 | €1,549 | -€1,334 | -46.3% |
| Financial fixed assets | 28 | €7,029 | €7,029 | = | 0.0% |
| Current assets | 29/58 | €839,247 | €865,033 | +€25,786 | +3.1% |
| Stocks and contracts in progress | 3 | €237,830 | €240,889 | +€3,058 | +1.3% |
| Stocks | 30/36 | €237,830 | €240,889 | +€3,058 | +1.3% |
| Amounts receivable within one year | 40/41 | €150,081 | €154,571 | +€4,490 | +3.0% |
| Trade receivables | 40 | €143,577 | €147,803 | +€4,226 | +2.9% |
| Other amounts receivable | 41 | €6,504 | €6,768 | +€264 | +4.1% |
| Current investments | 50/53 | - | €163,543 | +€163,543 | |
| Cash at bank and in hand | 54/58 | €429,945 | €284,679 | -€145,266 | -33.8% |
| Deferred charges and accrued income | 490/1 | €21,391 | €21,351 | -€40 | -0.2% |
| Total equity and liabilities | 10/49 | €1,135,421 | €1,163,448 | +€28,027 | +2.5% |
| Equity | 10/15 | €587,957 | €646,555 | +€58,598 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,419 | €104,419 | = | 0.0% |
| Non-distributable reserves | 130/1 | €44,790 | €44,790 | = | 0.0% |
| Reserves not available under the articles | 1311 | €44,790 | €44,790 | = | 0.0% |
| Distributable reserves | 133 | €59,629 | €59,629 | = | 0.0% |
| Profit (loss) carried forward | 14 | €464,937 | €523,535 | +€58,598 | +12.6% |
| Amounts payable | 17/49 | €547,465 | €516,894 | -€30,571 | -5.6% |
| Amounts payable after more than one year | 17 | €271,003 | €247,097 | -€23,906 | -8.8% |
| Financial debts | 170/4 | €271,003 | €247,097 | -€23,906 | -8.8% |
| Amounts payable within one year | 42/48 | €276,462 | €265,301 | -€11,160 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €23,466 | €23,906 | +€440 | +1.9% |
| Trade debts | 44 | €115,254 | €129,249 | +€13,996 | +12.1% |
| Suppliers | 440/4 | €115,254 | €129,249 | +€13,996 | +12.1% |
| Taxes, remuneration and social security | 45 | €27,631 | €24,646 | -€2,985 | -10.8% |
| Taxes | 450/3 | €9,341 | €8,424 | -€917 | -9.8% |
| Remuneration and social security | 454/9 | €18,291 | €16,222 | -€2,069 | -11.3% |
| Other amounts payable | 47/48 | €110,111 | €87,500 | -€22,611 | -20.5% |
| Accrued charges and deferred income | 492/3 | - | €4,495 | +€4,495 | |
| Remuneration, social security and pensions | 62 | €129,449 | €133,661 | +€4,212 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,246 | €36,543 | +€298 | +0.8% |
| Other operating charges | 640/8 | €1,307 | €1,324 | +€17 | +1.3% |
| Gross operating margin | 9900 | €409,137 | €370,514 | -€38,623 | -9.4% |
| Operating profit (loss) | 9901 | €242,134 | €198,985 | -€43,149 | -17.8% |
| Financial income | 75/76B | €50 | €2,398 | +€2,347 | +4,652% |
| Recurring financial income | 75 | €50 | €2,398 | +€2,347 | +4,652% |
| Financial charges | 65/66B | €31,454 | €34,397 | +€2,943 | +9.4% |
| Recurring financial charges | 65 | €31,454 | €34,397 | +€2,943 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €210,730 | €166,986 | -€43,745 | -20.8% |
| Income taxes | 67/77 | €26,429 | €20,887 | -€5,541 | -21.0% |
| Profit (loss) for the period | 9904 | €184,302 | €146,098 | -€38,203 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €184,302 | €146,098 | -€38,203 | -20.7% |
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 31 October 2026 via checked.be.