BELIEPHARMA: 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.
BELIEPHARMA
Largest movements
- Receivables within one year +€74,669
up €74,669 (+41.7%), from €179,139 to €253,808
of which Trade receivables: +€81,070
- Tangible fixed assets -€56,541
down €56,541 (-8.2%), from €687,541 to €631,000
of which Land and buildings: -€39,774
- Reserves +€83,043
up €83,043 (+7.5%), from €1.1m to €1.2m
of which Distributable reserves: +€83,043
- Debts after one year -€74,476
down €74,476 (-26.0%), from €286,884 to €212,407
- Trade debts +€36,832
up €36,832 (+344%), from €10,722 to €47,555
- Current portion of long-term debt -€34,100
down €34,100 (-31.4%), from €108,576 to €74,476
- Depreciation +€18,679
up €18,679 (+32.0%), from €58,399 to €77,078
- Gross operating margin +€11,357
up €11,357 (+5.2%), from €219,533 to €230,890
- Taxes +€4,184
up €4,184 (+13.8%), from €30,416 to €34,601
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 | €1,880,989 | €1,889,613 | +€8,624 | +0.5% |
| Fixed assets | 21/28 | €1,634,989 | €1,578,447 | -€56,541 | -3.5% |
| Tangible fixed assets | 22/27 | €687,541 | €631,000 | -€56,541 | -8.2% |
| Land and buildings | 22 | €555,858 | €516,084 | -€39,774 | -7.2% |
| Plant, machinery and equipment | 23 | €1,021 | €1,055 | +€34 | +3.3% |
| Furniture and vehicles | 24 | €130,661 | €113,861 | -€16,801 | -12.9% |
| Financial fixed assets | 28 | €947,448 | €947,448 | = | 0.0% |
| Current assets | 29/58 | €246,000 | €311,165 | +€65,165 | +26.5% |
| Amounts receivable within one year | 40/41 | €179,139 | €253,808 | +€74,669 | +41.7% |
| Trade receivables | 40 | €33,880 | €114,950 | +€81,070 | +239% |
| Other amounts receivable | 41 | €145,259 | €138,858 | -€6,401 | -4.4% |
| Cash at bank and in hand | 54/58 | €46,761 | €53,744 | +€6,982 | +14.9% |
| Deferred charges and accrued income | 490/1 | €20,100 | €3,613 | -€16,487 | -82.0% |
| Total equity and liabilities | 10/49 | €1,880,989 | €1,889,613 | +€8,624 | +0.5% |
| Equity | 10/15 | €1,111,882 | €1,194,925 | +€83,043 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,105,682 | €1,188,725 | +€83,043 | +7.5% |
| Tax-exempt reserves | 132 | €79,104 | €79,104 | = | 0.0% |
| Distributable reserves | 133 | €1,026,578 | €1,109,622 | +€83,043 | +8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €769,107 | €694,688 | -€74,419 | -9.7% |
| Amounts payable after more than one year | 17 | €286,884 | €212,407 | -€74,476 | -26.0% |
| Financial debts | 170/4 | €286,884 | €212,407 | -€74,476 | -26.0% |
| Amounts payable within one year | 42/48 | €482,223 | €481,871 | -€353 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €108,576 | €74,476 | -€34,100 | -31.4% |
| Trade debts | 44 | €10,722 | €47,555 | +€36,832 | +344% |
| Suppliers | 440/4 | €10,722 | €47,555 | +€36,832 | +344% |
| Taxes, remuneration and social security | 45 | €13,713 | €5,168 | -€8,545 | -62.3% |
| Taxes | 450/3 | €13,713 | €5,168 | -€8,545 | -62.3% |
| Other amounts payable | 47/48 | €349,212 | €354,672 | +€5,460 | +1.6% |
| Accrued charges and deferred income | 492/3 | €0 | €410 | +€410 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,399 | €77,078 | +€18,679 | +32.0% |
| Other operating charges | 640/8 | €6,518 | €6,606 | +€88 | +1.4% |
| Gross operating margin | 9900 | €219,533 | €230,890 | +€11,357 | +5.2% |
| Operating profit (loss) | 9901 | €154,616 | €147,206 | -€7,410 | -4.8% |
| Financial income | 75/76B | €1 | €59 | +€58 | +5,860% |
| Recurring financial income | 75 | €1 | €59 | +€58 | +5,860% |
| Financial charges | 65/66B | €9,967 | €9,621 | -€346 | -3.5% |
| Recurring financial charges | 65 | €9,967 | €9,621 | -€346 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €144,650 | €137,644 | -€7,006 | -4.8% |
| Income taxes | 67/77 | €30,416 | €34,601 | +€4,184 | +13.8% |
| Profit (loss) for the period | 9904 | €114,234 | €103,043 | -€11,190 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,234 | €103,043 | -€11,190 | -9.8% |
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 14 October 2026 via checked.be.