BELIPHARM: 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.
BELIPHARM
Largest movements
- Receivables within one year +€307,347
up €307,347 (+229%), from €134,372 to €441,720
of which Trade receivables: +€308,452
- Trade debts +€264,867
up €264,867 (+961%), from €27,572 to €292,439
- Reserves +€22,885
up €22,885 (+1,234%), from €1,855 to €24,740
of which Distributable reserves: +€22,885
- Tax, wage and social debts +€11,452
up €11,452 (+272%), from €4,205 to €15,657
- Other debts +€8,071
up €8,071 (+8.3%), from €97,755 to €105,826
- Gross operating margin +€8,288
up €8,288 (+29.6%), from €28,038 to €36,326
- Taxes +€7,247
up €7,247 (+172%), from €4,205 to €11,452
- Financial charges +€384
up €384 (+44.0%), from €872 to €1,256
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 | €142,510 | €449,785 | +€307,275 | +216% |
| Fixed assets | 21/28 | €411 | €78 | -€333 | -81.1% |
| Tangible fixed assets | 22/27 | €411 | €78 | -€333 | -81.1% |
| Plant, machinery and equipment | 23 | €411 | €78 | -€333 | -81.1% |
| Current assets | 29/58 | €142,100 | €449,707 | +€307,608 | +216% |
| Amounts receivable within one year | 40/41 | €134,372 | €441,720 | +€307,347 | +229% |
| Trade receivables | 40 | €133,268 | €441,720 | +€308,452 | +231% |
| Other amounts receivable | 41 | €1,105 | - | -€1,105 | |
| Cash at bank and in hand | 54/58 | €7,727 | €7,988 | +€261 | +3.4% |
| Total equity and liabilities | 10/49 | €142,510 | €449,785 | +€307,275 | +216% |
| Equity | 10/15 | €12,978 | €35,863 | +€22,885 | +176% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €24,740 | +€22,885 | +1,234% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | - | €22,885 | +€22,885 | |
| Profit (loss) carried forward | 14 | €4,923 | €4,923 | = | 0.0% |
| Amounts payable | 17/49 | €129,532 | €413,922 | +€284,390 | +220% |
| Amounts payable within one year | 42/48 | €129,532 | €413,922 | +€284,390 | +220% |
| Trade debts | 44 | €27,572 | €292,439 | +€264,867 | +961% |
| Suppliers | 440/4 | €27,572 | €292,439 | +€264,867 | +961% |
| Taxes, remuneration and social security | 45 | €4,205 | €15,657 | +€11,452 | +272% |
| Taxes | 450/3 | €4,205 | €15,657 | +€11,452 | +272% |
| Other amounts payable | 47/48 | €97,755 | €105,826 | +€8,071 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333 | €333 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €28,038 | €36,326 | +€8,288 | +29.6% |
| Operating profit (loss) | 9901 | €27,318 | €35,593 | +€8,275 | +30.3% |
| Financial charges | 65/66B | €872 | €1,256 | +€384 | +44.0% |
| Recurring financial charges | 65 | €872 | €1,256 | +€384 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €26,445 | €34,337 | +€7,892 | +29.8% |
| Income taxes | 67/77 | €4,205 | €11,452 | +€7,247 | +172% |
| Profit (loss) for the period | 9904 | €22,240 | €22,885 | +€644 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,240 | €22,885 | +€644 | +2.9% |
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.