APOTHEEK VELGHE: 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 VELGHE
Largest movements
- Cash -€123,594
down €123,594 (-91.3%), from €135,395 to €11,801
mainly Other debts (-€125,470) and Receivables within one year (-€68,484)
- Receivables within one year +€68,484
up €68,484 (+23.5%), from €291,009 to €359,492
of which Other amounts receivable: +€74,170
- Tangible fixed assets -€59,272
down €59,272 (-9.9%), from €596,975 to €537,704
of which Land and buildings: -€53,303
- Other debts -€125,470
down €125,470 (-73.1%), from €171,668 to €46,198
- Debts after one year +€63,583
up €63,583 (+13.9%), from €458,683 to €522,266
- Reserves -€35,172
down €35,172 (-31.3%), from €112,348 to €77,176
of which Distributable reserves: -€35,172
- Gross operating margin -€57,807
down €57,807 (-23.3%), from €247,627 to €189,820
- Staff costs -€21,609
down €21,609 (-15.7%), from €137,494 to €115,884
- Financial charges +€5,572
up €5,572 (+13.1%), from €42,553 to €48,125
- Taxes -€4,176
down €4,176 (-90.5%), from €4,616 to €440
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 | €1,232,085 | €1,117,601 | -€114,485 | -9.3% |
| Fixed assets | 21/28 | €599,509 | €539,711 | -€59,799 | -10.0% |
| Intangible fixed assets | 21 | - | €1,759 | +€1,759 | |
| Tangible fixed assets | 22/27 | €596,975 | €537,704 | -€59,272 | -9.9% |
| Land and buildings | 22 | €549,411 | €496,108 | -€53,303 | -9.7% |
| Plant, machinery and equipment | 23 | €2,109 | €2,456 | +€347 | +16.4% |
| Furniture and vehicles | 24 | €45,455 | €39,140 | -€6,316 | -13.9% |
| Financial fixed assets | 28 | €2,534 | €248 | -€2,286 | -90.2% |
| Current assets | 29/58 | €632,576 | €577,890 | -€54,686 | -8.6% |
| Stocks and contracts in progress | 3 | €202,274 | €200,015 | -€2,260 | -1.1% |
| Stocks | 30/36 | €202,274 | €200,015 | -€2,260 | -1.1% |
| Amounts receivable within one year | 40/41 | €291,009 | €359,492 | +€68,484 | +23.5% |
| Trade receivables | 40 | €86,905 | €81,219 | -€5,687 | -6.5% |
| Other amounts receivable | 41 | €204,103 | €278,274 | +€74,170 | +36.3% |
| Current investments | 50/53 | €56 | €56 | -€0 | -0.5% |
| Cash at bank and in hand | 54/58 | €135,395 | €11,801 | -€123,594 | -91.3% |
| Deferred charges and accrued income | 490/1 | €3,841 | €6,526 | +€2,685 | +69.9% |
| Total equity and liabilities | 10/49 | €1,232,085 | €1,117,601 | -€114,485 | -9.3% |
| Equity | 10/15 | €174,348 | €139,176 | -€35,172 | -20.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €112,348 | €77,176 | -€35,172 | -31.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,434 | €20,434 | = | 0.0% |
| Distributable reserves | 133 | €85,714 | €50,542 | -€35,172 | -41.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,057,737 | €978,425 | -€79,312 | -7.5% |
| Amounts payable after more than one year | 17 | €458,683 | €522,266 | +€63,583 | +13.9% |
| Financial debts | 170/4 | €458,683 | €522,266 | +€63,583 | +13.9% |
| Amounts payable within one year | 42/48 | €599,054 | €456,073 | -€142,982 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €56,762 | €58,324 | +€1,562 | +2.8% |
| Financial debts | 43 | €195,000 | €190,837 | -€4,164 | -2.1% |
| Credit institutions | 430/8 | €195,000 | €190,837 | -€4,164 | -2.1% |
| Trade debts | 44 | €144,892 | €137,060 | -€7,832 | -5.4% |
| Suppliers | 440/4 | €144,892 | €137,060 | -€7,832 | -5.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €30,732 | €23,655 | -€7,077 | -23.0% |
| Taxes | 450/3 | €7,364 | €7,056 | -€308 | -4.2% |
| Remuneration and social security | 454/9 | €23,369 | €16,599 | -€6,769 | -29.0% |
| Other amounts payable | 47/48 | €171,668 | €46,198 | -€125,470 | -73.1% |
| Accrued charges and deferred income | 492/3 | - | €86 | +€86 | |
| Remuneration, social security and pensions | 62 | €137,494 | €115,884 | -€21,609 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,019 | €60,557 | -€462 | -0.8% |
| Other operating charges | 640/8 | €2,886 | €2,902 | +€16 | +0.5% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €247,627 | €189,820 | -€57,807 | -23.3% |
| Operating profit (loss) | 9901 | €46,228 | €10,427 | -€35,801 | -77.4% |
| Financial income | 75/76B | €4,407 | €4,821 | +€414 | +9.4% |
| Recurring financial income | 75 | €4,407 | €4,821 | +€414 | +9.4% |
| Financial charges | 65/66B | €42,553 | €48,125 | +€5,572 | +13.1% |
| Recurring financial charges | 65 | €42,553 | €48,125 | +€5,572 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €8,082 | -€32,877 | -€40,959 | |
| Income taxes | 67/77 | €4,616 | €440 | -€4,176 | -90.5% |
| Profit (loss) for the period | 9904 | €3,467 | -€33,317 | -€36,783 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,467 | -€33,317 | -€36,783 |
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 30 October 2026 via checked.be.