APOTHEEK TRAP: 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 TRAP
Largest movements
- Receivables within one year +€29,798
up €29,798 (+11.4%), from €261,654 to €291,452
of which Other amounts receivable: +€39,859
- Stocks and contracts -€14,609
down €14,609 (-10.4%), from €140,023 to €125,413
- Tangible fixed assets +€5,129
up €5,129 (+10.5%), from €48,951 to €54,080
of which Assets under construction and advance payments: +€24,050
- Trade debts +€62,741
up €62,741 (+61.8%), from €101,503 to €164,244
- Other debts -€21,500
down €21,500 (-38.9%), from €55,300 to €33,800
- Current portion of long-term debt -€16,402
down €16,402 (-67.5%), from €24,284 to €7,882
- Debts after one year -€7,882
down €7,882 (-43.1%), from €18,294 to €10,412
- Accrued charges and deferred income -€6,540
down €6,540 (-62.6%), from €10,453 to €3,912
- Gross operating margin -€24,908
down €24,908 (-8.1%), from €306,466 to €281,558
- Staff costs -€4,727
down €4,727 (-2.2%), from €216,915 to €212,188
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 | €459,141 | €477,672 | +€18,530 | +4.0% |
| Fixed assets | 21/28 | €49,551 | €54,680 | +€5,129 | +10.4% |
| Tangible fixed assets | 22/27 | €48,951 | €54,080 | +€5,129 | +10.5% |
| Plant, machinery and equipment | 23 | €4,272 | €2,392 | -€1,880 | -44.0% |
| Furniture and vehicles | 24 | €44,679 | €27,638 | -€17,041 | -38.1% |
| Assets under construction and advance payments | 27 | - | €24,050 | +€24,050 | |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €409,591 | €422,992 | +€13,401 | +3.3% |
| Stocks and contracts in progress | 3 | €140,023 | €125,413 | -€14,609 | -10.4% |
| Stocks | 30/36 | €140,023 | €125,413 | -€14,609 | -10.4% |
| Amounts receivable within one year | 40/41 | €261,654 | €291,452 | +€29,798 | +11.4% |
| Trade receivables | 40 | €76,785 | €66,724 | -€10,061 | -13.1% |
| Other amounts receivable | 41 | €184,869 | €224,729 | +€39,859 | +21.6% |
| Cash at bank and in hand | 54/58 | €4,072 | €1,927 | -€2,145 | -52.7% |
| Deferred charges and accrued income | 490/1 | €3,843 | €4,200 | +€357 | +9.3% |
| Total equity and liabilities | 10/49 | €459,141 | €477,672 | +€18,530 | +4.0% |
| Equity | 10/15 | €193,609 | €193,666 | +€57 | 0.0% |
| Contributions | 10/11 | €37,000 | €37,000 | = | 0.0% |
| Reserves | 13 | €156,609 | €156,666 | +€57 | 0.0% |
| Non-distributable reserves | 130/1 | €3,700 | €3,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,700 | €3,700 | = | 0.0% |
| Distributable reserves | 133 | €152,909 | €152,966 | +€57 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €265,532 | €284,006 | +€18,474 | +7.0% |
| Amounts payable after more than one year | 17 | €18,294 | €10,412 | -€7,882 | -43.1% |
| Financial debts | 170/4 | €18,294 | €10,412 | -€7,882 | -43.1% |
| Amounts payable within one year | 42/48 | €236,785 | €269,682 | +€32,896 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €24,284 | €7,882 | -€16,402 | -67.5% |
| Financial debts | 43 | €28,829 | €33,453 | +€4,625 | +16.0% |
| Credit institutions | 430/8 | €28,829 | €33,453 | +€4,625 | +16.0% |
| Trade debts | 44 | €101,503 | €164,244 | +€62,741 | +61.8% |
| Suppliers | 440/4 | €101,503 | €164,244 | +€62,741 | +61.8% |
| Taxes, remuneration and social security | 45 | €26,869 | €30,302 | +€3,433 | +12.8% |
| Taxes | 450/3 | €563 | €687 | +€124 | +22.0% |
| Remuneration and social security | 454/9 | €26,306 | €29,615 | +€3,309 | +12.6% |
| Other amounts payable | 47/48 | €55,300 | €33,800 | -€21,500 | -38.9% |
| Accrued charges and deferred income | 492/3 | €10,453 | €3,912 | -€6,540 | -62.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €216,915 | €212,188 | -€4,727 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,921 | €18,921 | = | 0.0% |
| Other operating charges | 640/8 | €1,118 | €1,029 | -€89 | -8.0% |
| Gross operating margin | 9900 | €306,466 | €281,558 | -€24,908 | -8.1% |
| Operating profit (loss) | 9901 | €69,513 | €49,421 | -€20,091 | -28.9% |
| Financial income | 75/76B | €1,910 | €14 | -€1,896 | -99.3% |
| Recurring financial income | 75 | €1,910 | €14 | -€1,896 | -99.3% |
| Financial charges | 65/66B | €13,507 | €12,391 | -€1,115 | -8.3% |
| Recurring financial charges | 65 | €13,507 | €12,391 | -€1,115 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €57,916 | €37,044 | -€20,872 | -36.0% |
| Income taxes | 67/77 | €2,254 | €3,187 | +€933 | +41.4% |
| Profit (loss) for the period | 9904 | €55,661 | €33,857 | -€21,805 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,661 | €33,857 | -€21,805 | -39.2% |
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 19 October 2026 via checked.be.