CARO 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.
What changed
CARO PHARMA
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€26,056
2024 · -€81,990+€55,935
Equity
€154,269
2024 · €180,325-€26,056
Cash
€29,891
2024 · €26,783+€3,107
Balance sheet total
€593,057
2024 · €669,636-€76,579
Largest movements
Assets
- Intangible fixed assets -€68,799
down €68,799 (-16.7%), from €412,517 to €343,718
- Tangible fixed assets -€9,755
down €9,755 (-6.4%), from €152,449 to €142,694
of which Land and buildings: -€8,100
Equity and liabilities
- Debts after one year -€69,029
down €69,029 (-28.2%), from €244,674 to €175,645
of which Financial debts: -€47,206
- Profit (loss) carried forward -€26,056
down €26,056 (-20.8%), from €125,325 to €99,269
- Tax, wage and social debts +€16,786
up €16,786 (+88.7%), from €18,915 to €35,702
Income statement
- Taxes -€63,052
down €63,052 (-79.3%), from €79,510 to €16,459
- Gross operating margin -€10,052
down €10,052 (-11.0%), from €91,505 to €81,453
- Financial charges -€2,798
down €2,798 (-20.6%), from €13,589 to €10,792
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.
Result 2024
-€81,990
Gross operating margin
-€10,052
Depreciation
+€34
Other operating charges
-€93
Financial income
+€196
Financial charges
+€2,798
Taxes
+€63,052
Result 2025
-€26,056
raises the resultlowers the result
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.
From operations
+€71,123
Investment
-€393
Financing
-€67,623
Cash 2024
€26,783
From operations (derived)
+€71,123
Net result for the year
-€26,056
Depreciation
+€78,946
Smaller working-capital items
+€171
Receivables within one year
+€961
Provisions
-€1,449
Trade debts
-€3,319
Tax, wage and social debts
+€16,786
Accrued charges and deferred income
+€5,082
Investment (derived)
-€393
Investment in fixed assets (net)
-€393
Financing
-€67,623
Debts after one year
-€69,029
Current portion of long-term debt
+€1,405
Cash 2025
€29,891
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €669,636 | €593,057 | -€76,579 | -11.4% |
| Fixed assets | 21/28 | €564,966 | €486,412 | -€78,554 | -13.9% |
| Intangible fixed assets | 21 | €412,517 | €343,718 | -€68,799 | -16.7% |
| Tangible fixed assets | 22/27 | €152,449 | €142,694 | -€9,755 | -6.4% |
| Land and buildings | 22 | €150,081 | €141,981 | -€8,100 | -5.4% |
| Plant, machinery and equipment | 23 | €1,331 | €713 | -€618 | -46.4% |
| Furniture and vehicles | 24 | €1,036 | - | -€1,036 | |
| Current assets | 29/58 | €104,670 | €106,645 | +€1,975 | +1.9% |
| Stocks and contracts in progress | 3 | €38,640 | €38,477 | -€163 | -0.4% |
| Stocks | 30/36 | €38,640 | €38,477 | -€163 | -0.4% |
| Amounts receivable within one year | 40/41 | €35,279 | €34,318 | -€961 | -2.7% |
| Trade receivables | 40 | €35,279 | €34,318 | -€961 | -2.7% |
| Cash at bank and in hand | 54/58 | €26,783 | €29,891 | +€3,107 | +11.6% |
| Deferred charges and accrued income | 490/1 | €3,967 | €3,959 | -€8 | -0.2% |
| Total equity and liabilities | 10/49 | €669,636 | €593,057 | -€76,579 | -11.4% |
| Equity | 10/15 | €180,325 | €154,269 | -€26,056 | -14.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,325 | €99,269 | -€26,056 | -20.8% |
| Provisions and deferred taxes | 16 | €100,483 | €99,034 | -€1,449 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €71,027 | €71,027 | = | 0.0% |
| Pensions and similar obligations | 160 | €71,027 | €71,027 | = | 0.0% |
| Deferred taxes | 168 | €29,456 | €28,007 | -€1,449 | -4.9% |
| Amounts payable | 17/49 | €388,828 | €339,754 | -€49,074 | -12.6% |
| Amounts payable after more than one year | 17 | €244,674 | €175,645 | -€69,029 | -28.2% |
| Financial debts | 170/4 | €112,894 | €65,688 | -€47,206 | -41.8% |
| Other amounts payable | 178/9 | €131,780 | €109,957 | -€21,823 | -16.6% |
| Amounts payable within one year | 42/48 | €136,622 | €151,494 | +€14,872 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €44,701 | €46,107 | +€1,405 | +3.1% |
| Trade debts | 44 | €73,005 | €69,686 | -€3,319 | -4.5% |
| Suppliers | 440/4 | €73,005 | €69,686 | -€3,319 | -4.5% |
| Taxes, remuneration and social security | 45 | €18,915 | €35,702 | +€16,786 | +88.7% |
| Taxes | 450/3 | €18,915 | €35,702 | +€16,786 | +88.7% |
| Accrued charges and deferred income | 492/3 | €7,532 | €12,614 | +€5,082 | +67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,980 | €78,946 | -€34 | 0.0% |
| Other operating charges | 640/8 | €2,864 | €2,957 | +€93 | +3.2% |
| Gross operating margin | 9900 | €91,505 | €81,453 | -€10,052 | -11.0% |
| Operating profit (loss) | 9901 | €9,661 | -€450 | -€10,111 | |
| Financial income | 75/76B | - | €196 | +€196 | |
| Recurring financial income | 75 | - | €196 | +€196 | |
| Financial charges | 65/66B | €13,589 | €10,792 | -€2,798 | -20.6% |
| Recurring financial charges | 65 | €13,589 | €10,792 | -€2,798 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,929 | -€11,046 | -€7,117 | -181% |
| Transfer from deferred taxes | 780 | €1,449 | €1,449 | = | 0.0% |
| Income taxes | 67/77 | €79,510 | €16,459 | -€63,052 | -79.3% |
| Profit (loss) for the period | 9904 | -€81,990 | -€26,056 | +€55,935 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,990 | -€26,056 | +€55,935 | +68.2% |
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 26 October 2026 via checked.be.