APPROVER: 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
APPROVER
NACE 47.730, Retail sale of pharmaceutical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€54,652
2024 · €49,124+€5,527
Equity
€389,088
2024 · €373,728+€15,360
Cash
€276,296
2024 · €275,132+€1,164
Balance sheet total
€704,844
2024 · €704,808+€36
Largest movements
Assets
- Tangible fixed assets -€24,472
down €24,472 (-8.2%), from €298,939 to €274,467
of which Land and buildings: -€18,466
- Stocks and contracts +€16,960
up €16,960 (+19.8%), from €85,465 to €102,424
Equity and liabilities
- Current portion of long-term debt -€23,380
down €23,380 (-59.3%), from €39,459 to €16,079
- Debts after one year -€16,077
down €16,077 (-12.0%), from €134,167 to €118,090
- Reserves +€15,360
up €15,360 (+4.4%), from €345,728 to €361,088
of which Distributable reserves: +€15,727
- Trade debts +€14,904
up €14,904 (+50.4%), from €29,567 to €44,471
Income statement
- Gross operating margin +€8,474
up €8,474 (+5.6%), from €151,982 to €160,456
- Taxes +€2,134
up €2,134 (+10.7%), from €20,032 to €22,166
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
€49,124
Gross operating margin
+€8,474
Staff costs
-€1,553
Depreciation
+€545
Other operating charges
+€109
Financial income
+€230
Financial charges
-€144
Taxes
-€2,134
Result 2025
€54,652
Cash bridge derived
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
+€79,912
Investment
€0
Financing
-€78,748
Cash 2024
€275,132
From operations (derived)
+€79,912
Net result for the year
+€54,652
Depreciation
+€24,472
Stocks and contracts
-€16,960
Receivables within one year
-€6,772
Deferred charges and accrued income
+€388
Provisions
-€94
Trade debts
+€14,904
Tax, wage and social debts
+€2,840
Other debts
+€5,015
Accrued charges and deferred income
+€1,468
Financing
-€78,748
Debts after one year
-€16,077
Current portion of long-term debt
-€23,380
Contributions, distributions and other
-€39,292
Cash 2025
€276,296
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €704,808 | €704,844 | +€36 | 0.0% |
| Fixed assets | 21/28 | €298,939 | €274,467 | -€24,472 | -8.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €298,939 | €274,467 | -€24,472 | -8.2% |
| Land and buildings | 22 | €291,138 | €272,672 | -€18,466 | -6.3% |
| Plant, machinery and equipment | 23 | €3,079 | €1,795 | -€1,283 | -41.7% |
| Furniture and vehicles | 24 | €4,723 | €0 | -€4,723 | -100.0% |
| Current assets | 29/58 | €405,869 | €430,377 | +€24,508 | +6.0% |
| Stocks and contracts in progress | 3 | €85,465 | €102,424 | +€16,960 | +19.8% |
| Stocks | 30/36 | €85,465 | €102,424 | +€16,960 | +19.8% |
| Amounts receivable within one year | 40/41 | €43,907 | €50,679 | +€6,772 | +15.4% |
| Trade receivables | 40 | €43,907 | €50,679 | +€6,772 | +15.4% |
| Cash at bank and in hand | 54/58 | €275,132 | €276,296 | +€1,164 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,365 | €977 | -€388 | -28.4% |
| Total equity and liabilities | 10/49 | €704,808 | €704,844 | +€36 | 0.0% |
| Equity | 10/15 | €373,728 | €389,088 | +€15,360 | +4.1% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | €345,728 | €361,088 | +€15,360 | +4.4% |
| Tax-exempt reserves | 132 | €43,052 | €42,685 | -€367 | -0.9% |
| Distributable reserves | 133 | €302,676 | €318,403 | +€15,727 | +5.2% |
| Provisions and deferred taxes | 16 | €1,223 | €1,129 | -€94 | -7.7% |
| Deferred taxes | 168 | €1,223 | €1,129 | -€94 | -7.7% |
| Amounts payable | 17/49 | €329,857 | €314,627 | -€15,230 | -4.6% |
| Amounts payable after more than one year | 17 | €134,167 | €118,090 | -€16,077 | -12.0% |
| Financial debts | 170/4 | €134,167 | €118,090 | -€16,077 | -12.0% |
| Amounts payable within one year | 42/48 | €188,525 | €187,905 | -€621 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €39,459 | €16,079 | -€23,380 | -59.3% |
| Trade debts | 44 | €29,567 | €44,471 | +€14,904 | +50.4% |
| Suppliers | 440/4 | €29,567 | €44,471 | +€14,904 | +50.4% |
| Taxes, remuneration and social security | 45 | €11,611 | €14,450 | +€2,840 | +24.5% |
| Taxes | 450/3 | €2,630 | €5,141 | +€2,511 | +95.5% |
| Remuneration and social security | 454/9 | €8,981 | €9,310 | +€329 | +3.7% |
| Other amounts payable | 47/48 | €107,889 | €112,904 | +€5,015 | +4.6% |
| Accrued charges and deferred income | 492/3 | €7,165 | €8,632 | +€1,468 | +20.5% |
| Remuneration, social security and pensions | 62 | €32,950 | €34,503 | +€1,553 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,017 | €24,472 | -€545 | -2.2% |
| Other operating charges | 640/8 | €2,078 | €1,969 | -€109 | -5.3% |
| Gross operating margin | 9900 | €151,982 | €160,456 | +€8,474 | +5.6% |
| Operating profit (loss) | 9901 | €91,937 | €99,512 | +€7,575 | +8.2% |
| Financial income | 75/76B | €574 | €804 | +€230 | +40.0% |
| Recurring financial income | 75 | €574 | €804 | +€230 | +40.0% |
| Financial charges | 65/66B | €23,449 | €23,593 | +€144 | +0.6% |
| Recurring financial charges | 65 | €23,449 | €23,593 | +€144 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €69,062 | €76,724 | +€7,661 | +11.1% |
| Transfer from deferred taxes | 780 | €94 | €94 | = | 0.0% |
| Income taxes | 67/77 | €20,032 | €22,166 | +€2,134 | +10.7% |
| Profit (loss) for the period | 9904 | €49,124 | €54,652 | +€5,527 | +11.3% |
| Transfer from tax-exempt reserves | 789 | €367 | €367 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,491 | €55,019 | +€5,527 | +11.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.