COLE PHARMACEUTICALS: 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.
COLE PHARMACEUTICALS
Largest movements
- Intangible fixed assets +€694,943
up €694,943 (+111%), from €625,991 to €1.3m
- Receivables within one year -€103,036
down €103,036 (-41.1%), from €250,616 to €147,580
of which Trade receivables: -€82,607
- Stocks and contracts -€67,308
down €67,308 (-63.3%), from €106,256 to €38,949
- Profit (loss) carried forward +€909,906
up €909,906 (+76.1%), from -€1.2m to -€285,163
- Trade debts -€611,334
down €611,334 (-79.2%), from €771,973 to €160,639
- Contributions +€289,000
up €289,000 (+64.3%), from €449,417 to €738,417
- Debts after one year -€107,710
down €107,710 (-12.1%), from €889,510 to €781,800
- Advances received +€34,351
new in 2025: €34,351
- Gross operating margin +€255,174
up €255,174 (+60.3%), from -€423,335 to -€168,161
- Depreciation +€53,228
up €53,228 (+37.5%), from €142,001 to €195,229
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 | €993,456 | €1,512,669 | +€519,214 | +52.3% |
| Fixed assets | 21/28 | €629,185 | €1,322,657 | +€693,472 | +110% |
| Intangible fixed assets | 21 | €625,991 | €1,320,934 | +€694,943 | +111% |
| Tangible fixed assets | 22/27 | €2,876 | €1,406 | -€1,470 | -51.1% |
| Furniture and vehicles | 24 | €1,727 | €1,406 | -€321 | -18.6% |
| Other tangible fixed assets | 26 | €1,149 | - | -€1,149 | |
| Financial fixed assets | 28 | €317 | €317 | = | 0.0% |
| Current assets | 29/58 | €364,271 | €190,012 | -€174,259 | -47.8% |
| Stocks and contracts in progress | 3 | €106,256 | €38,949 | -€67,308 | -63.3% |
| Stocks | 30/36 | €106,256 | €38,949 | -€67,308 | -63.3% |
| Amounts receivable within one year | 40/41 | €250,616 | €147,580 | -€103,036 | -41.1% |
| Trade receivables | 40 | €209,719 | €127,111 | -€82,607 | -39.4% |
| Other amounts receivable | 41 | €40,897 | €20,468 | -€20,429 | -50.0% |
| Cash at bank and in hand | 54/58 | €114 | €668 | +€554 | +486% |
| Deferred charges and accrued income | 490/1 | €7,285 | €2,816 | -€4,469 | -61.3% |
| Total equity and liabilities | 10/49 | €993,456 | €1,512,669 | +€519,214 | +52.3% |
| Equity | 10/15 | -€730,652 | €468,254 | +€1.2m | |
| Contributions | 10/11 | €449,417 | €738,417 | +€289,000 | +64.3% |
| Profit (loss) carried forward | 14 | -€1,195,068 | -€285,163 | +€909,906 | +76.1% |
| Investment grants | 15 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,724,108 | €1,044,415 | -€679,692 | -39.4% |
| Amounts payable after more than one year | 17 | €889,510 | €781,800 | -€107,710 | -12.1% |
| Financial debts | 170/4 | €889,510 | €781,800 | -€107,710 | -12.1% |
| Amounts payable within one year | 42/48 | €834,598 | €262,615 | -€571,983 | -68.5% |
| Current portion of amounts payable after more than one year | 42 | €62,500 | €62,500 | = | 0.0% |
| Trade debts | 44 | €771,973 | €160,639 | -€611,334 | -79.2% |
| Suppliers | 440/4 | €771,973 | €160,639 | -€611,334 | -79.2% |
| Advances received on contracts in progress | 46 | - | €34,351 | +€34,351 | |
| Other amounts payable | 47/48 | €125 | €5,125 | +€5,000 | +4,015% |
| Non-recurring operating income | 76A | - | €1,711 | +€1,711 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,001 | €195,229 | +€53,228 | +37.5% |
| Other operating charges | 640/8 | €20,647 | €21,881 | +€1,234 | +6.0% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | -€423,335 | -€168,161 | +€255,174 | +60.3% |
| Operating profit (loss) | 9901 | -€585,984 | -€385,321 | +€200,663 | +34.2% |
| Financial charges | 65/66B | €6,804 | €4,773 | -€2,031 | -29.9% |
| Recurring financial charges | 65 | €6,798 | €2,721 | -€4,076 | -60.0% |
| Non-recurring financial charges | 66B | €7 | €2,052 | +€2,045 | +30,297% |
| Profit (loss) for the period before taxes | 9903 | -€592,788 | -€390,094 | +€202,694 | +34.2% |
| Profit (loss) for the period | 9904 | -€592,788 | -€390,094 | +€202,694 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€592,788 | -€390,094 | +€202,694 | +34.2% |
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 24 October 2026 via checked.be.