B & V PHARMA: 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.
B & V PHARMA
Largest movements
- Receivables within one year +€101,933
up €101,933 (+137%), from €74,179 to €176,111
of which Other amounts receivable: +€93,255
- Cash -€57,970
down €57,970 (-41.9%), from €138,487 to €80,517
mainly Contributions, distributions and other (-€451,695) and Receivables within one year (-€101,933)
- Tangible fixed assets -€33,885
down €33,885 (-3.9%), from €879,143 to €845,258
of which Land and buildings: -€22,411
- Other debts +€292,699
up €292,699 (+69.1%), from €423,345 to €716,044
- Reserves -€237,921
down €237,921 (-20.3%), from €1.2m to €933,037
- Debts after one year -€41,830
down €41,830 (-9.6%), from €435,101 to €393,271
- Short-term financial debts -€22,116
down €22,116 (-100%), from €22,116 to €0
- Financial income +€114,100
up €114,100, from €0 to €114,100
- Gross operating margin -€39,177
down €39,177 (-14.0%), from €279,511 to €240,334
- Financial charges -€11,559
down €11,559 (-23.8%), from €48,503 to €36,944
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 | €2,121,536 | €2,131,371 | +€9,835 | +0.5% |
| Fixed assets | 21/28 | €1,904,143 | €1,870,258 | -€33,885 | -1.8% |
| Tangible fixed assets | 22/27 | €879,143 | €845,258 | -€33,885 | -3.9% |
| Land and buildings | 22 | €587,464 | €565,053 | -€22,411 | -3.8% |
| Plant, machinery and equipment | 23 | €281,797 | €275,844 | -€5,953 | -2.1% |
| Furniture and vehicles | 24 | €4,671 | €4,361 | -€310 | -6.6% |
| Leasing and similar rights | 25 | €5,210 | €0 | -€5,210 | -100% |
| Financial fixed assets | 28 | €1,025,000 | €1,025,000 | = | 0.0% |
| Current assets | 29/58 | €217,393 | €261,114 | +€43,721 | +20.1% |
| Amounts receivable within one year | 40/41 | €74,179 | €176,111 | +€101,933 | +137% |
| Trade receivables | 40 | €20,812 | €29,490 | +€8,678 | +41.7% |
| Other amounts receivable | 41 | €53,367 | €146,622 | +€93,255 | +175% |
| Cash at bank and in hand | 54/58 | €138,487 | €80,517 | -€57,970 | -41.9% |
| Deferred charges and accrued income | 490/1 | €4,728 | €4,485 | -€243 | -5.1% |
| Total equity and liabilities | 10/49 | €2,121,536 | €2,131,371 | +€9,835 | +0.5% |
| Equity | 10/15 | €1,177,158 | €939,237 | -€237,921 | -20.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,170,958 | €933,037 | -€237,921 | -20.3% |
| Distributable reserves | 133 | €1,170,958 | €933,037 | -€237,921 | -20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €944,379 | €1,192,134 | +€247,756 | +26.2% |
| Amounts payable after more than one year | 17 | €435,101 | €393,271 | -€41,830 | -9.6% |
| Financial debts | 170/4 | €435,101 | €393,271 | -€41,830 | -9.6% |
| Amounts payable within one year | 42/48 | €509,278 | €798,863 | +€289,585 | +56.9% |
| Current portion of amounts payable after more than one year | 42 | €46,341 | €41,830 | -€4,512 | -9.7% |
| Financial debts | 43 | €22,116 | €0 | -€22,116 | -100% |
| Credit institutions | 430/8 | €22,116 | €0 | -€22,116 | -100% |
| Trade debts | 44 | €2,972 | €6,814 | +€3,842 | +129% |
| Suppliers | 440/4 | €2,972 | €6,814 | +€3,842 | +129% |
| Taxes, remuneration and social security | 45 | €14,504 | €34,175 | +€19,671 | +136% |
| Taxes | 450/3 | €14,504 | €34,175 | +€19,671 | +136% |
| Other amounts payable | 47/48 | €423,345 | €716,044 | +€292,699 | +69.1% |
| Non-recurring operating income | 76A | - | €335 | +€335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,623 | €43,228 | -€1,396 | -3.1% |
| Other operating charges | 640/8 | €3,346 | €3,717 | +€370 | +11.1% |
| Gross operating margin | 9900 | €279,511 | €240,334 | -€39,177 | -14.0% |
| Operating profit (loss) | 9901 | €231,542 | €193,389 | -€38,152 | -16.5% |
| Financial income | 75/76B | €0 | €114,100 | +€114,100 | |
| Recurring financial income | 75 | €0 | €114,100 | +€114,100 | |
| Financial charges | 65/66B | €48,503 | €36,944 | -€11,559 | -23.8% |
| Recurring financial charges | 65 | €48,503 | €36,944 | -€11,559 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €183,038 | €270,545 | +€87,507 | +47.8% |
| Income taxes | 67/77 | €54,368 | €56,771 | +€2,402 | +4.4% |
| Profit (loss) for the period | 9904 | €128,670 | €213,775 | +€85,105 | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €128,670 | €213,775 | +€85,105 | +66.1% |
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 24 October 2026 via checked.be.