COVETRUS: 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
COVETRUS
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.7m
2024 · €2.0m+€665,198
Equity
€21.1m
2024 · €18.4m+€2.7m
Cash
€7.3m
2024 · €468,876+€6.8m
Balance sheet total
€37.1m
2024 · €33.7m+€3.4m
Largest movements
Assets
- Cash +€6.8m
up €6.8m (+1459.1%), from €468,876 to €7.3m
mainly Stocks and contracts (+€3.0m) and Net result for the year (+€2.7m)
- Stocks and contracts -€3.0m
down €3.0m (-20.1%), from €15.2m to €12.1m
Equity and liabilities
- Profit (loss) carried forward +€2.7m
up €2.7m (+18.2%), from €14.7m to €17.3m
- Tax, wage and social debts +€673,298
up €673,298 (+83.0%), from €811,349 to €1.5m
of which Remuneration and social security: +€416,793
- Trade debts +€622,489
up €622,489 (+4.7%), from €13.3m to €13.9m
- Other debts -€394,146
no longer reported in 2025 (was €394,146)
Income statement
- Turnover +€7.0m
up €7.0m (+4.4%), from €158.8m to €165.8m
- Goods and materials +€5.9m
up €5.9m (+4.3%), from €138.8m to €144.7m
of which Change in stocks: decrease (increase): +€6.3m
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
€2.0m
Turnover
+€7.0m
Other operating income
+€385,278
Goods and materials
-€5.9m
Services and other goods
+€330,929
Staff costs
-€591,180
Depreciation
+€50,333
Write-downs
+€26,717
Other operating charges
-€168,412
Financial income
-€468,383
Financial charges
+€279,223
Taxes
-€270,501
Result 2025
€2.7m
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.
From operations
+€7.0m
Investment
-€189,301
Financing
€0
Cash 2024
€468,876
From operations (derived)
+€7.0m
Net result for the year
+€2.7m
Depreciation
+€274,514
Stocks and contracts
+€3.0m
Receivables within one year
+€288,719
Deferred charges and accrued income
+€1,677
Trade debts
+€622,489
Tax, wage and social debts
+€673,298
Other debts
-€394,146
Accrued charges and deferred income
-€155,930
Investment (derived)
-€189,301
Investment in fixed assets (net)
-€189,301
Cash 2025
€7.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,674,493 | €37,091,834 | +€3.4m | +10.1% |
| Fixed assets | 21/28 | €868,758 | €783,545 | -€85,213 | -9.8% |
| Tangible fixed assets | 22/27 | €842,410 | €757,197 | -€85,213 | -10.1% |
| Land and buildings | 22 | €8,934 | €8,934 | = | 0.0% |
| Plant, machinery and equipment | 23 | €489,239 | €399,418 | -€89,821 | -18.4% |
| Furniture and vehicles | 24 | €134,217 | €133,180 | -€1,037 | -0.8% |
| Other tangible fixed assets | 26 | €205,353 | €166,568 | -€38,785 | -18.9% |
| Assets under construction and advance payments | 27 | €4,667 | €49,097 | +€44,430 | +952.0% |
| Financial fixed assets | 28 | €26,348 | €26,348 | = | 0.0% |
| Affiliated companies | 280/1 | €25,198 | €25,198 | = | 0.0% |
| Participating interests | 280 | €25,198 | €25,198 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,150 | €1,150 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,150 | €1,150 | = | 0.0% |
| Current assets | 29/58 | €32,805,735 | €36,308,289 | +€3.5m | +10.7% |
| Stocks and contracts in progress | 3 | €15,180,650 | €12,132,042 | -€3.0m | -20.1% |
| Stocks | 30/36 | €15,180,650 | €12,132,042 | -€3.0m | -20.1% |
| Goods purchased for resale | 34 | €15,180,650 | €12,132,042 | -€3.0m | -20.1% |
| Amounts receivable within one year | 40/41 | €17,089,694 | €16,800,975 | -€288,719 | -1.7% |
| Trade receivables | 40 | €16,994,824 | €16,798,446 | -€196,378 | -1.2% |
| Other amounts receivable | 41 | €94,870 | €2,529 | -€92,341 | -97.3% |
| Cash at bank and in hand | 54/58 | €468,876 | €7,310,434 | +€6.8m | +1459.1% |
| Deferred charges and accrued income | 490/1 | €66,515 | €64,838 | -€1,677 | -2.5% |
| Total equity and liabilities | 10/49 | €33,674,493 | €37,091,834 | +€3.4m | +10.1% |
| Equity | 10/15 | €18,438,316 | €21,109,946 | +€2.7m | +14.5% |
| Contributions | 10/11 | €470,000 | €470,000 | = | 0.0% |
| Capital | 10 | €470,000 | €470,000 | = | 0.0% |
| Issued capital | 100 | €470,000 | €470,000 | = | 0.0% |
| Reserves | 13 | €3,295,805 | €3,295,805 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,000 | €47,000 | = | 0.0% |
| Legal reserve | 130 | €47,000 | €47,000 | = | 0.0% |
| Distributable reserves | 133 | €3,248,805 | €3,248,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,672,511 | €17,344,141 | +€2.7m | +18.2% |
| Amounts payable | 17/49 | €15,236,177 | €15,981,888 | +€745,711 | +4.9% |
| Amounts payable within one year | 42/48 | €14,511,335 | €15,412,976 | +€901,641 | +6.2% |
| Trade debts | 44 | €13,305,840 | €13,928,329 | +€622,489 | +4.7% |
| Suppliers | 440/4 | €13,305,840 | €13,928,329 | +€622,489 | +4.7% |
| Taxes, remuneration and social security | 45 | €811,349 | €1,484,647 | +€673,298 | +83.0% |
| Taxes | 450/3 | €191,666 | €448,171 | +€256,505 | +133.8% |
| Remuneration and social security | 454/9 | €619,683 | €1,036,476 | +€416,793 | +67.3% |
| Other amounts payable | 47/48 | €394,146 | - | -€394,146 | |
| Accrued charges and deferred income | 492/3 | €724,842 | €568,912 | -€155,930 | -21.5% |
| Operating income | 70/76A | €159,179,158 | €166,570,161 | +€7.4m | +4.6% |
| Turnover | 70 | €158,816,332 | €165,822,057 | +€7.0m | +4.4% |
| Other operating income | 74 | €362,826 | €748,104 | +€385,278 | +106.2% |
| Operating charges | 60/66A | €156,759,736 | €163,025,880 | +€6.3m | +4.0% |
| Goods for resale, raw materials and consumables | 60 | €138,777,499 | €144,692,030 | +€5.9m | +4.3% |
| Purchases | 600/8 | €141,986,728 | €141,643,422 | -€343,306 | -0.2% |
| Change in stocks: decrease (increase) | 609 | -€3,209,229 | €3,048,608 | +€6.3m | |
| Services and other goods | 61 | €12,763,385 | €12,432,456 | -€330,929 | -2.6% |
| Remuneration, social security and pensions | 62 | €4,915,799 | €5,506,979 | +€591,180 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324,847 | €274,514 | -€50,333 | -15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,794 | -€48,511 | -€26,717 | -122.6% |
| Other operating charges | 640/8 | - | €168,412 | +€168,412 | |
| Operating profit (loss) | 9901 | €2,419,422 | €3,544,281 | +€1.1m | +46.5% |
| Financial income | 75/76B | €778,381 | €309,998 | -€468,383 | -60.2% |
| Recurring financial income | 75 | €778,381 | €309,998 | -€468,383 | -60.2% |
| Other financial income | 752/9 | €778,381 | €309,998 | -€468,383 | -60.2% |
| Financial charges | 65/66B | €492,955 | €213,732 | -€279,223 | -56.6% |
| Recurring financial charges | 65 | €492,955 | €213,732 | -€279,223 | -56.6% |
| Debt charges | 650 | €275,734 | €115,256 | -€160,478 | -58.2% |
| Other financial charges | 652/9 | €217,221 | €98,476 | -€118,745 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €2,704,848 | €3,640,547 | +€935,699 | +34.6% |
| Income taxes | 67/77 | €698,416 | €968,917 | +€270,501 | +38.7% |
| Taxes | 670/3 | €698,416 | €968,917 | +€270,501 | +38.7% |
| Profit (loss) for the period | 9904 | €2,006,432 | €2,671,630 | +€665,198 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,006,432 | €2,671,630 | +€665,198 | +33.2% |
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 12 October 2026 via checked.be.