CF 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.
CF Pharma
Largest movements
- Receivables within one year -€24,196
down €24,196 (-40.7%), from €59,484 to €35,288
of which Trade receivables: -€30,223
- Deferred charges and accrued income -€22,171
down €22,171 (-92.4%), from €24,000 to €1,829
- Tangible fixed assets -€10,274
down €10,274 (-2.3%), from €439,942 to €429,668
of which Land and buildings: -€9,612
- Other debts -€53,870
down €53,870 (-73.0%), from €73,775 to €19,905
- Profit (loss) carried forward +€31,984
up €31,984, from -€11,977 to €20,007
- Debts after one year -€27,655
down €27,655 (-7.9%), from €348,821 to €321,166
- Short-term financial debts -€6,497
no longer reported in 2025 (was €6,497)
- Depreciation -€8,068
down €8,068 (-30.7%), from €26,241 to €18,173
- Taxes +€7,086
up €7,086 (+85.9%), from €8,247 to €15,334
- Gross operating margin +€5,274
up €5,274 (+6.3%), from €84,231 to €89,505
- Financial charges -€1,657
down €1,657 (-7.4%), from €22,375 to €20,718
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.
Cash bridge derived
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 | €523,426 | €469,314 | -€54,112 | -10.3% |
| Fixed assets | 21/28 | €439,942 | €429,668 | -€10,274 | -2.3% |
| Tangible fixed assets | 22/27 | €439,942 | €429,668 | -€10,274 | -2.3% |
| Land and buildings | 22 | €439,280 | €429,668 | -€9,612 | -2.2% |
| Furniture and vehicles | 24 | €662 | - | -€662 | |
| Current assets | 29/58 | €83,484 | €39,646 | -€43,838 | -52.5% |
| Amounts receivable within one year | 40/41 | €59,484 | €35,288 | -€24,196 | -40.7% |
| Trade receivables | 40 | €45,094 | €14,871 | -€30,223 | -67.0% |
| Other amounts receivable | 41 | €14,390 | €20,417 | +€6,027 | +41.9% |
| Cash at bank and in hand | 54/58 | - | €2,529 | +€2,529 | |
| Deferred charges and accrued income | 490/1 | €24,000 | €1,829 | -€22,171 | -92.4% |
| Total equity and liabilities | 10/49 | €523,426 | €469,314 | -€54,112 | -10.3% |
| Equity | 10/15 | €46,623 | €78,607 | +€31,984 | +68.6% |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,977 | €20,007 | +€31,984 | |
| Amounts payable | 17/49 | €476,803 | €390,707 | -€86,096 | -18.1% |
| Amounts payable after more than one year | 17 | €348,821 | €321,166 | -€27,655 | -7.9% |
| Financial debts | 170/4 | €348,821 | €321,166 | -€27,655 | -7.9% |
| Amounts payable within one year | 42/48 | €127,983 | €69,541 | -€58,442 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €28,380 | €28,217 | -€163 | -0.6% |
| Financial debts | 43 | €6,497 | - | -€6,497 | |
| Credit institutions | 430/8 | €6,497 | - | -€6,497 | |
| Trade debts | 44 | €808 | €2,004 | +€1,196 | +148.1% |
| Suppliers | 440/4 | €808 | €2,004 | +€1,196 | +148.1% |
| Taxes, remuneration and social security | 45 | €18,523 | €19,415 | +€892 | +4.8% |
| Taxes | 450/3 | €18,523 | €19,415 | +€892 | +4.8% |
| Other amounts payable | 47/48 | €73,775 | €19,905 | -€53,870 | -73.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,241 | €18,173 | -€8,068 | -30.7% |
| Other operating charges | 640/8 | €3,265 | €3,296 | +€31 | +1.0% |
| Gross operating margin | 9900 | €84,231 | €89,505 | +€5,274 | +6.3% |
| Operating profit (loss) | 9901 | €54,725 | €68,035 | +€13,310 | +24.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €22,375 | €20,718 | -€1,657 | -7.4% |
| Recurring financial charges | 65 | €22,375 | €20,718 | -€1,657 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €32,351 | €47,318 | +€14,966 | +46.3% |
| Income taxes | 67/77 | €8,247 | €15,334 | +€7,086 | +85.9% |
| Profit (loss) for the period | 9904 | €24,104 | €31,984 | +€7,880 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,104 | €31,984 | +€7,880 | +32.7% |
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 11 October 2026 via checked.be.