Bex 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.
Bex Pharma
Largest movements
- Cash -€113,544
down €113,544 (-78.5%), from €144,579 to €31,035
mainly Debts after one year (-€69,327) and Contributions, distributions and other (-€39,457)
- Receivables within one year +€23,523
up €23,523 (+18.0%), from €130,423 to €153,947
of which Other amounts receivable: +€43,054
- Tangible fixed assets -€13,583
down €13,583 (-22.9%), from €59,346 to €45,763
of which Furniture and vehicles: -€13,607
- Debts after one year -€69,327
down €69,327 (-11.5%), from €600,670 to €531,343
- Other debts -€19,418
down €19,418 (-9.2%), from €210,798 to €191,380
- Financial income -€35,483
down €35,483 (-88.0%), from €40,329 to €4,847
- Gross operating margin -€18,369
down €18,369 (-17.8%), from €103,307 to €84,938
- Taxes -€10,314
down €10,314 (-40.1%), from €25,691 to €15,377
- Financial charges +€3,842
up €3,842 (+16.2%), from €23,693 to €27,535
- Depreciation +€3,681
up €3,681 (+31.7%), from €11,621 to €15,301
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 | €1,235,409 | €1,136,694 | -€98,715 | -8.0% |
| Fixed assets | 21/28 | €959,184 | €945,600 | -€13,583 | -1.4% |
| Tangible fixed assets | 22/27 | €59,346 | €45,763 | -€13,583 | -22.9% |
| Plant, machinery and equipment | 23 | €3,375 | €3,399 | +€24 | +0.7% |
| Furniture and vehicles | 24 | €55,971 | €42,364 | -€13,607 | -24.3% |
| Financial fixed assets | 28 | €899,837 | €899,837 | = | 0.0% |
| Current assets | 29/58 | €276,225 | €191,093 | -€85,132 | -30.8% |
| Amounts receivable within one year | 40/41 | €130,423 | €153,947 | +€23,523 | +18.0% |
| Trade receivables | 40 | €33,108 | €13,578 | -€19,531 | -59.0% |
| Other amounts receivable | 41 | €97,315 | €140,369 | +€43,054 | +44.2% |
| Cash at bank and in hand | 54/58 | €144,579 | €31,035 | -€113,544 | -78.5% |
| Deferred charges and accrued income | 490/1 | €1,223 | €6,112 | +€4,889 | +400% |
| Total equity and liabilities | 10/49 | €1,235,409 | €1,136,694 | -€98,715 | -8.0% |
| Equity | 10/15 | €328,949 | €319,718 | -€9,231 | -2.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €310,399 | €301,168 | -€9,231 | -3.0% |
| Distributable reserves | 133 | €310,399 | €301,168 | -€9,231 | -3.0% |
| Amounts payable | 17/49 | €906,460 | €816,976 | -€89,484 | -9.9% |
| Amounts payable after more than one year | 17 | €600,670 | €531,343 | -€69,327 | -11.5% |
| Financial debts | 170/4 | €600,670 | €531,343 | -€69,327 | -11.5% |
| Amounts payable within one year | 42/48 | €298,372 | €276,988 | -€21,384 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €73,991 | €71,461 | -€2,530 | -3.4% |
| Trade debts | 44 | €781 | €142 | -€639 | -81.9% |
| Suppliers | 440/4 | €781 | €142 | -€639 | -81.9% |
| Taxes, remuneration and social security | 45 | €12,802 | €14,005 | +€1,203 | +9.4% |
| Taxes | 450/3 | €12,802 | €14,005 | +€1,203 | +9.4% |
| Other amounts payable | 47/48 | €210,798 | €191,380 | -€19,418 | -9.2% |
| Accrued charges and deferred income | 492/3 | €7,418 | €8,645 | +€1,227 | +16.5% |
| Non-recurring operating income | 76A | €732 | - | -€732 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,621 | €15,301 | +€3,681 | +31.7% |
| Other operating charges | 640/8 | €1,193 | €1,345 | +€152 | +12.8% |
| Gross operating margin | 9900 | €103,307 | €84,938 | -€18,369 | -17.8% |
| Operating profit (loss) | 9901 | €90,494 | €68,292 | -€22,202 | -24.5% |
| Financial income | 75/76B | €40,329 | €4,847 | -€35,483 | -88.0% |
| Recurring financial income | 75 | €40,329 | €4,847 | -€35,483 | -88.0% |
| Financial charges | 65/66B | €23,693 | €27,535 | +€3,842 | +16.2% |
| Recurring financial charges | 65 | €23,693 | €27,535 | +€3,842 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €107,130 | €45,604 | -€61,527 | -57.4% |
| Income taxes | 67/77 | €25,691 | €15,377 | -€10,314 | -40.1% |
| Profit (loss) for the period | 9904 | €81,439 | €30,226 | -€51,212 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €81,439 | €30,226 | -€51,212 | -62.9% |
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 20 October 2026 via checked.be.