CONNECTING 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.
CONNECTING PHARMA
Largest movements
- Cash -€33,007
down €33,007 (-12.5%), from €264,977 to €231,970
mainly Contributions, distributions and other (-€93,782) and Deferred charges and accrued income (-€5,871)
- Receivables within one year -€10,662
down €10,662 (-14.4%), from €74,241 to €63,579
of which Other amounts receivable: -€8,772
- Deferred charges and accrued income +€5,871
up €5,871 (+193.9%), from €3,028 to €8,899
- Stocks and contracts -€3,543
down €3,543 (-100.0%), from €3,543 to €0
- Reserves -€49,541
down €49,541 (-26.5%), from €186,811 to €137,271
- Short-term financial debts +€4,541
up €4,541 (+2213.5%), from €205 to €4,746
- Gross operating margin +€14,603
up €14,603 (+27.1%), from €53,879 to €68,483
- Depreciation -€2,747
down €2,747 (-48.0%), from €5,721 to €2,974
- Taxes +€1,443
up €1,443 (+9.0%), from €16,080 to €17,523
- Financial income -€1,228
down €1,228 (-54.4%), from €2,257 to €1,029
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 | €353,999 | €312,342 | -€41,657 | -11.8% |
| Fixed assets | 21/28 | €8,210 | €7,895 | -€316 | -3.8% |
| Intangible fixed assets | 21 | €1,082 | €748 | -€334 | -30.8% |
| Tangible fixed assets | 22/27 | €2,928 | €2,946 | +€18 | +0.6% |
| Land and buildings | 22 | €262 | €0 | -€262 | -100.0% |
| Plant, machinery and equipment | 23 | €1,550 | €2,946 | +€1,397 | +90.1% |
| Furniture and vehicles | 24 | €1,117 | €0 | -€1,117 | -100.0% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €345,789 | €304,448 | -€41,341 | -12.0% |
| Stocks and contracts in progress | 3 | €3,543 | €0 | -€3,543 | -100.0% |
| Stocks | 30/36 | €3,543 | €0 | -€3,543 | -100.0% |
| Amounts receivable within one year | 40/41 | €74,241 | €63,579 | -€10,662 | -14.4% |
| Trade receivables | 40 | €9,090 | €7,200 | -€1,890 | -20.8% |
| Other amounts receivable | 41 | €65,151 | €56,379 | -€8,772 | -13.5% |
| Cash at bank and in hand | 54/58 | €264,977 | €231,970 | -€33,007 | -12.5% |
| Deferred charges and accrued income | 490/1 | €3,028 | €8,899 | +€5,871 | +193.9% |
| Total equity and liabilities | 10/49 | €353,999 | €312,342 | -€41,657 | -11.8% |
| Equity | 10/15 | €186,811 | €137,271 | -€49,541 | -26.5% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €186,811 | €137,271 | -€49,541 | -26.5% |
| Distributable reserves | 133 | €186,811 | €137,271 | -€49,541 | -26.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €167,188 | €175,072 | +€7,884 | +4.7% |
| Amounts payable within one year | 42/48 | €167,008 | €175,040 | +€8,032 | +4.8% |
| Financial debts | 43 | €205 | €4,746 | +€4,541 | +2213.5% |
| Credit institutions | 430/8 | €205 | €4,746 | +€4,541 | +2213.5% |
| Trade debts | 44 | €3,338 | €4,475 | +€1,137 | +34.1% |
| Suppliers | 440/4 | €3,338 | €4,475 | +€1,137 | +34.1% |
| Taxes, remuneration and social security | 45 | €3,348 | €5,320 | +€1,972 | +58.9% |
| Taxes | 450/3 | €3,348 | €5,320 | +€1,972 | +58.9% |
| Other amounts payable | 47/48 | €160,116 | €160,499 | +€383 | +0.2% |
| Accrued charges and deferred income | 492/3 | €180 | €32 | -€148 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,721 | €2,974 | -€2,747 | -48.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,225 | €1,529 | +€304 | +24.8% |
| Gross operating margin | 9900 | €53,879 | €68,483 | +€14,603 | +27.1% |
| Operating profit (loss) | 9901 | €46,934 | €63,981 | +€17,047 | +36.3% |
| Financial income | 75/76B | €2,257 | €1,029 | -€1,228 | -54.4% |
| Recurring financial income | 75 | €2,257 | €1,029 | -€1,228 | -54.4% |
| Financial charges | 65/66B | €3,395 | €3,246 | -€149 | -4.4% |
| Recurring financial charges | 65 | €3,395 | €3,246 | -€149 | -4.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €45,796 | €61,764 | +€15,968 | +34.9% |
| Income taxes | 67/77 | €16,080 | €17,523 | +€1,443 | +9.0% |
| Profit (loss) for the period | 9904 | €29,717 | €44,241 | +€14,524 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,717 | €44,241 | +€14,524 | +48.9% |
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 10 October 2026 via checked.be.