Apotheek VESALIUS: 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 VESALIUS
Largest movements
- Cash +€488,483
up €488,483 (+275%), from €177,444 to €665,927
mainly Current investments (+€427,211) and Net result for the year (+€51,173)
- Current investments -€427,211
no longer reported in 2025 (was €427,211)
- Tangible fixed assets -€14,960
down €14,960 (-27.1%), from €55,297 to €40,337
of which Land and buildings: -€13,420
- Receivables within one year +€10,556
up €10,556 (+9.5%), from €111,546 to €122,102
of which Trade receivables: +€11,568
- Reserves +€51,173
up €51,173 (+12.9%), from €395,985 to €447,158
of which Distributable reserves: +€51,173
- Short-term financial debts +€16,000
up €16,000 (+5.6%), from €288,000 to €304,000
- Trade debts -€10,209
down €10,209 (-14.0%), from €72,718 to €62,509
- Depreciation -€10,011
down €10,011 (-40.1%), from €24,971 to €14,960
- Staff costs +€6,035
up €6,035 (+4.3%), from €139,250 to €145,285
- Financial income -€4,898
down €4,898 (-35.4%), from €13,823 to €8,925
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 | €867,706 | €920,748 | +€53,042 | +6.1% |
| Fixed assets | 21/28 | €55,297 | €40,337 | -€14,960 | -27.1% |
| Tangible fixed assets | 22/27 | €55,297 | €40,337 | -€14,960 | -27.1% |
| Land and buildings | 22 | €53,681 | €40,261 | -€13,420 | -25.0% |
| Plant, machinery and equipment | 23 | €1,616 | €76 | -€1,540 | -95.3% |
| Current assets | 29/58 | €812,409 | €880,411 | +€68,002 | +8.4% |
| Stocks and contracts in progress | 3 | €94,871 | €90,863 | -€4,008 | -4.2% |
| Stocks | 30/36 | €94,871 | €90,863 | -€4,008 | -4.2% |
| Amounts receivable within one year | 40/41 | €111,546 | €122,102 | +€10,556 | +9.5% |
| Trade receivables | 40 | €107,984 | €119,552 | +€11,568 | +10.7% |
| Other amounts receivable | 41 | €3,562 | €2,550 | -€1,012 | -28.4% |
| Current investments | 50/53 | €427,211 | - | -€427,211 | |
| Cash at bank and in hand | 54/58 | €177,444 | €665,927 | +€488,483 | +275% |
| Deferred charges and accrued income | 490/1 | €1,337 | €1,519 | +€182 | +13.6% |
| Total equity and liabilities | 10/49 | €867,706 | €920,748 | +€53,042 | +6.1% |
| Equity | 10/15 | €457,985 | €509,158 | +€51,173 | +11.2% |
| 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 | €395,985 | €447,158 | +€51,173 | +12.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €220 | €220 | = | 0.0% |
| Distributable reserves | 133 | €389,565 | €440,738 | +€51,173 | +13.1% |
| Amounts payable | 17/49 | €409,721 | €411,590 | +€1,869 | +0.5% |
| Amounts payable within one year | 42/48 | €393,553 | €396,524 | +€2,971 | +0.8% |
| Financial debts | 43 | €288,000 | €304,000 | +€16,000 | +5.6% |
| Other loans | 439 | €288,000 | €304,000 | +€16,000 | +5.6% |
| Trade debts | 44 | €72,718 | €62,509 | -€10,209 | -14.0% |
| Suppliers | 440/4 | €72,718 | €62,509 | -€10,209 | -14.0% |
| Taxes, remuneration and social security | 45 | €32,299 | €29,310 | -€2,989 | -9.3% |
| Taxes | 450/3 | €14,241 | €9,843 | -€4,398 | -30.9% |
| Remuneration and social security | 454/9 | €18,058 | €19,467 | +€1,409 | +7.8% |
| Other amounts payable | 47/48 | €536 | €705 | +€169 | +31.5% |
| Accrued charges and deferred income | 492/3 | €16,168 | €15,066 | -€1,102 | -6.8% |
| Remuneration, social security and pensions | 62 | €139,250 | €145,285 | +€6,035 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,971 | €14,960 | -€10,011 | -40.1% |
| Other operating charges | 640/8 | €4,146 | €4,256 | +€110 | +2.7% |
| Gross operating margin | 9900 | €246,115 | €247,719 | +€1,604 | +0.7% |
| Operating profit (loss) | 9901 | €77,748 | €83,218 | +€5,470 | +7.0% |
| Financial income | 75/76B | €13,823 | €8,925 | -€4,898 | -35.4% |
| Recurring financial income | 75 | €13,823 | €8,925 | -€4,898 | -35.4% |
| Financial charges | 65/66B | €25,023 | €22,928 | -€2,095 | -8.4% |
| Recurring financial charges | 65 | €25,023 | €22,928 | -€2,095 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €66,548 | €69,215 | +€2,667 | +4.0% |
| Income taxes | 67/77 | €17,426 | €18,042 | +€616 | +3.5% |
| Profit (loss) for the period | 9904 | €49,122 | €51,173 | +€2,051 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,122 | €51,173 | +€2,051 | +4.2% |
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 27 October 2026 via checked.be.