BRUSSELS REPS 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.
BRUSSELS REPS PHARMA
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+167%), from €924,282 to €2.5m
of which Trade receivables: +€1.3m
- Cash -€1.3m
down €1.3m (-62.9%), from €2.1m to €765,133
mainly Receivables within one year (-€1.5m) and Contributions, distributions and other (-€350,000)
- Reserves -€350,000
down €350,000 (-12.9%), from €2.7m to €2.4m
of which Distributable reserves: -€350,000
- Profit (loss) carried forward +€349,924
up €349,924 (+73.3%), from -€477,296 to -€127,372
- Other debts +€245,233
up €245,233 (+2,447%), from €10,021 to €255,254
- Tax, wage and social debts +€64,584
up €64,584 (+10.7%), from €606,337 to €670,921
of which Taxes: +€229,059
- Gross operating margin +€566,420
up €566,420 (+19.4%), from €2.9m to €3.5m
- Turnover +€477,768
up €477,768 (+12.8%), from €3.7m to €4.2m
- Staff costs +€199,401
up €199,401 (+7.5%), from €2.7m to €2.9m
- Taxes +€139,541
up €139,541 (+208%), from €67,005 to €206,546
- Purchases and services -€76,086
down €76,086 (-8.7%), from €879,190 to €803,104
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 | €2,998,085 | €3,279,726 | +€281,641 | +9.4% |
| Fixed assets | 21/28 | €5,068 | €36,183 | +€31,115 | +614% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | - | €31,115 | +€31,115 | |
| Furniture and vehicles | 24 | - | €31,115 | +€31,115 | |
| Financial fixed assets | 28 | €5,068 | €5,068 | = | 0.0% |
| Current assets | 29/58 | €2,993,017 | €3,243,543 | +€250,526 | +8.4% |
| Amounts receivable within one year | 40/41 | €924,282 | €2,470,584 | +€1.5m | +167% |
| Trade receivables | 40 | €403,931 | €1,718,343 | +€1.3m | +325% |
| Other amounts receivable | 41 | €520,351 | €752,241 | +€231,890 | +44.6% |
| Cash at bank and in hand | 54/58 | €2,060,094 | €765,133 | -€1.3m | -62.9% |
| Deferred charges and accrued income | 490/1 | €8,641 | €7,826 | -€815 | -9.4% |
| Total equity and liabilities | 10/49 | €2,998,085 | €3,279,726 | +€281,641 | +9.4% |
| Equity | 10/15 | €2,297,261 | €2,297,185 | -€76 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,712,557 | €2,362,557 | -€350,000 | -12.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €631,500 | €631,500 | = | 0.0% |
| Distributable reserves | 133 | €2,074,857 | €1,724,857 | -€350,000 | -16.9% |
| Profit (loss) carried forward | 14 | -€477,296 | -€127,372 | +€349,924 | +73.3% |
| Amounts payable | 17/49 | €700,824 | €982,541 | +€281,717 | +40.2% |
| Amounts payable within one year | 42/48 | €699,935 | €977,956 | +€278,021 | +39.7% |
| Trade debts | 44 | €83,577 | €51,781 | -€31,796 | -38.0% |
| Suppliers | 440/4 | €83,577 | €51,781 | -€31,796 | -38.0% |
| Taxes, remuneration and social security | 45 | €606,337 | €670,921 | +€64,584 | +10.7% |
| Taxes | 450/3 | €152,276 | €381,335 | +€229,059 | +150% |
| Remuneration and social security | 454/9 | €454,061 | €289,586 | -€164,475 | -36.2% |
| Other amounts payable | 47/48 | €10,021 | €255,254 | +€245,233 | +2,447% |
| Accrued charges and deferred income | 492/3 | €889 | €4,585 | +€3,696 | +416% |
| Turnover | 70 | €3,730,578 | €4,208,346 | +€477,768 | +12.8% |
| Non-recurring operating income | 76A | - | €10,434 | +€10,434 | |
| Goods, raw materials, services and sundry goods | 60/61 | €879,190 | €803,104 | -€76,086 | -8.7% |
| Remuneration, social security and pensions | 62 | €2,651,039 | €2,850,440 | +€199,401 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €5,092 | +€5,092 | |
| Non-recurring operating charges | 66A | - | €31,962 | +€31,962 | |
| Gross operating margin | 9900 | €2,920,422 | €3,486,842 | +€566,420 | +19.4% |
| Operating profit (loss) | 9901 | €269,383 | €599,348 | +€329,965 | +122% |
| Financial income | 75/76B | €15,377 | €4,320 | -€11,057 | -71.9% |
| Recurring financial income | 75 | €15,377 | €4,320 | -€11,057 | -71.9% |
| Financial charges | 65/66B | €29,357 | €47,198 | +€17,841 | +60.8% |
| Recurring financial charges | 65 | €29,357 | €47,198 | +€17,841 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | €255,403 | €556,470 | +€301,067 | +118% |
| Income taxes | 67/77 | €67,005 | €206,546 | +€139,541 | +208% |
| Profit (loss) for the period | 9904 | €188,398 | €349,924 | +€161,526 | +85.7% |
| Transfer from tax-exempt reserves | 789 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €609,398 | €349,924 | -€259,474 | -42.6% |
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 25 October 2026 via checked.be.