Apotheek Verbelen: what changed
What changed
Apotheek Verbelen
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€4,515
2024 · €1,145+€3,370
Equity
€73,395
2024 · €68,880+€4,515
Cash
€6,268
2024 · €16,164-€9,895
Balance sheet total
€331,404
2024 · €357,998-€26,593
Largest movements
Assets
- Tangible fixed assets -€13,871
down €13,871 (-5.8%), from €240,276 to €226,406
of which Land and buildings: -€15,133
- Cash -€9,895
down €9,895 (-61.2%), from €16,164 to €6,268
mainly Debts after one year (-€35,993) and Investment in fixed assets (net) (-€9,480)
- Stocks and contracts -€4,460
down €4,460 (-5.8%), from €77,498 to €73,038
Equity and liabilities
- Debts after one year -€35,993
down €35,993 (-37.9%), from €94,973 to €58,980
- Reserves +€4,515
up €4,515 (+7.2%), from €62,675 to €67,190
of which Distributable reserves: +€4,515
Income statement
- Taxes +€2,681
new in 2025: €2,681
- Gross operating margin +€2,056
up €2,056 (+4.3%), from €47,612 to €49,668
- Financial charges -€1,346
down €1,346 (-7.5%), from €18,022 to €16,676
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1,145
Gross operating margin
+€2,056
Depreciation
+€170
Other operating charges
-€64
Other operating items
+€2,756
Financial income
-€213
Financial charges
+€1,346
Taxes
-€2,681
Result 2025
€4,515
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€33,478
Investment
-€9,480
Financing
-€33,893
Cash 2024
€16,164
From operations (derived)
+€33,478
Net result for the year
+€4,515
Depreciation
+€23,351
Stocks and contracts
+€4,460
Receivables within one year
-€1,911
Deferred charges and accrued income
+€278
Trade debts
-€1,299
Tax, wage and social debts
+€795
Other debts
+€3,052
Accrued charges and deferred income
+€236
Investment (derived)
-€9,480
Investment in fixed assets (net)
-€9,480
Financing
-€33,893
Debts after one year
-€35,993
Current portion of long-term debt
+€2,100
Cash 2025
€6,268
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €357,998 | €331,404 | -€26,593 | -7.4% |
| Fixed assets | 21/28 | €242,776 | €228,906 | -€13,871 | -5.7% |
| Tangible fixed assets | 22/27 | €240,276 | €226,406 | -€13,871 | -5.8% |
| Land and buildings | 22 | €213,092 | €197,959 | -€15,133 | -7.1% |
| Plant, machinery and equipment | 23 | €20,425 | €15,495 | -€4,930 | -24.1% |
| Furniture and vehicles | 24 | €6,759 | €12,952 | +€6,192 | +91.6% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €115,221 | €102,499 | -€12,723 | -11.0% |
| Stocks and contracts in progress | 3 | €77,498 | €73,038 | -€4,460 | -5.8% |
| Stocks | 30/36 | €77,498 | €73,038 | -€4,460 | -5.8% |
| Amounts receivable within one year | 40/41 | €19,884 | €21,795 | +€1,911 | +9.6% |
| Trade receivables | 40 | €19,655 | €21,795 | +€2,140 | +10.9% |
| Other amounts receivable | 41 | €229 | €0 | -€229 | -100% |
| Cash at bank and in hand | 54/58 | €16,164 | €6,268 | -€9,895 | -61.2% |
| Deferred charges and accrued income | 490/1 | €1,676 | €1,398 | -€278 | -16.6% |
| Total equity and liabilities | 10/49 | €357,998 | €331,404 | -€26,593 | -7.4% |
| Equity | 10/15 | €68,880 | €73,395 | +€4,515 | +6.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €62,675 | €67,190 | +€4,515 | +7.2% |
| Tax-exempt reserves | 132 | €24,350 | €24,350 | = | 0.0% |
| Distributable reserves | 133 | €38,325 | €42,840 | +€4,515 | +11.8% |
| Amounts payable | 17/49 | €289,118 | €258,009 | -€31,108 | -10.8% |
| Amounts payable after more than one year | 17 | €94,973 | €58,980 | -€35,993 | -37.9% |
| Financial debts | 170/4 | €94,973 | €58,980 | -€35,993 | -37.9% |
| Amounts payable within one year | 42/48 | €184,520 | €189,168 | +€4,648 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €33,893 | €35,993 | +€2,100 | +6.2% |
| Trade debts | 44 | €18,102 | €16,804 | -€1,299 | -7.2% |
| Suppliers | 440/4 | €18,102 | €16,804 | -€1,299 | -7.2% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,795 | +€795 | +39.7% |
| Taxes | 450/3 | €450 | €2,795 | +€2,345 | +521% |
| Remuneration and social security | 454/9 | €1,550 | €0 | -€1,550 | -100% |
| Other amounts payable | 47/48 | €130,524 | €133,576 | +€3,052 | +2.3% |
| Accrued charges and deferred income | 492/3 | €9,625 | €9,862 | +€236 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,521 | €23,351 | -€170 | -0.7% |
| Other operating charges | 640/8 | €2,716 | €2,780 | +€64 | +2.4% |
| Non-recurring operating charges | 66A | €2,756 | €0 | -€2,756 | -100% |
| Gross operating margin | 9900 | €47,612 | €49,668 | +€2,056 | +4.3% |
| Operating profit (loss) | 9901 | €18,619 | €23,537 | +€4,918 | +26.4% |
| Financial income | 75/76B | €548 | €335 | -€213 | -38.9% |
| Recurring financial income | 75 | €548 | €335 | -€213 | -38.9% |
| Financial charges | 65/66B | €18,022 | €16,676 | -€1,346 | -7.5% |
| Recurring financial charges | 65 | €18,022 | €16,676 | -€1,346 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €1,145 | €7,196 | +€6,051 | +528% |
| Income taxes | 67/77 | - | €2,681 | +€2,681 | |
| Profit (loss) for the period | 9904 | €1,145 | €4,515 | +€3,370 | +294% |
| Profit (loss) for the period to be appropriated | 9905 | €1,145 | €4,515 | +€3,370 | +294% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.