DELPHARMA: 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.
DELPHARMA
Largest movements
- Stocks and contracts -€29,391
down €29,391 (-17.9%), from €164,622 to €135,231
- Cash +€27,179
up €27,179 (+243%), from €11,169 to €38,349
mainly Net result for the year (+€43,239) and Stocks and contracts (+€29,391)
- Receivables within one year +€21,741
up €21,741 (+30.3%), from €71,678 to €93,418
of which Trade receivables: +€13,729
- Tangible fixed assets +€5,915
up €5,915 (+24.8%), from €23,821 to €29,736
of which Other tangible fixed assets: +€8,763
- Trade debts +€28,068
up €28,068 (+27.3%), from €103,003 to €131,071
- Reserves +€25,239
up €25,239 (+53.2%), from €47,455 to €72,694
- Current portion of long-term debt -€23,990
down €23,990 (-85.2%), from €28,167 to €4,177
- Other debts +€5,812
up €5,812 (+17.7%), from €32,917 to €38,729
- Short-term financial debts -€4,851
down €4,851 (-99.7%), from €4,867 to €16
- Staff costs +€6,302
up €6,302 (+63.7%), from €9,888 to €16,190
- Taxes -€5,719
down €5,719 (-28.8%), from €19,850 to €14,130
- Financial charges +€5,218
up €5,218 (+97.2%), from €5,368 to €10,586
- Gross operating margin +€2,589
up €2,589 (+2.9%), from €88,021 to €90,611
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 | €276,933 | €302,800 | +€25,868 | +9.3% |
| Fixed assets | 21/28 | €24,046 | €29,961 | +€5,915 | +24.6% |
| Tangible fixed assets | 22/27 | €23,821 | €29,736 | +€5,915 | +24.8% |
| Plant, machinery and equipment | 23 | €108 | €0 | -€108 | -100.0% |
| Furniture and vehicles | 24 | €5,571 | €2,831 | -€2,739 | -49.2% |
| Other tangible fixed assets | 26 | €18,142 | €26,905 | +€8,763 | +48.3% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €252,887 | €272,839 | +€19,952 | +7.9% |
| Stocks and contracts in progress | 3 | €164,622 | €135,231 | -€29,391 | -17.9% |
| Stocks | 30/36 | €164,622 | €135,231 | -€29,391 | -17.9% |
| Amounts receivable within one year | 40/41 | €71,678 | €93,418 | +€21,741 | +30.3% |
| Trade receivables | 40 | €69,885 | €83,614 | +€13,729 | +19.6% |
| Other amounts receivable | 41 | €1,793 | €9,805 | +€8,012 | +447% |
| Cash at bank and in hand | 54/58 | €11,169 | €38,349 | +€27,179 | +243% |
| Deferred charges and accrued income | 490/1 | €5,418 | €5,841 | +€423 | +7.8% |
| Total equity and liabilities | 10/49 | €276,933 | €302,800 | +€25,868 | +9.3% |
| Equity | 10/15 | €86,047 | €111,286 | +€25,239 | +29.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €47,455 | €72,694 | +€25,239 | +53.2% |
| Distributable reserves | 133 | €47,455 | €72,694 | +€25,239 | +53.2% |
| Profit (loss) carried forward | 14 | €18,592 | €18,592 | = | 0.0% |
| Amounts payable | 17/49 | €190,886 | €191,514 | +€629 | +0.3% |
| Amounts payable within one year | 42/48 | €190,886 | €191,514 | +€629 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €28,167 | €4,177 | -€23,990 | -85.2% |
| Financial debts | 43 | €4,867 | €16 | -€4,851 | -99.7% |
| Credit institutions | 430/8 | €4,867 | €16 | -€4,851 | -99.7% |
| Trade debts | 44 | €103,003 | €131,071 | +€28,068 | +27.3% |
| Suppliers | 440/4 | €103,003 | €131,071 | +€28,068 | +27.3% |
| Taxes, remuneration and social security | 45 | €21,932 | €17,522 | -€4,410 | -20.1% |
| Taxes | 450/3 | €21,689 | €17,283 | -€4,406 | -20.3% |
| Remuneration and social security | 454/9 | €243 | €239 | -€4 | -1.7% |
| Other amounts payable | 47/48 | €32,917 | €38,729 | +€5,812 | +17.7% |
| Non-recurring operating income | 76A | - | €16,093 | +€16,093 | |
| Remuneration, social security and pensions | 62 | €9,888 | €16,190 | +€6,302 | +63.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,435 | €5,535 | +€99 | +1.8% |
| Other operating charges | 640/8 | €1,042 | €952 | -€90 | -8.7% |
| Gross operating margin | 9900 | €88,021 | €90,611 | +€2,589 | +2.9% |
| Operating profit (loss) | 9901 | €71,656 | €67,935 | -€3,722 | -5.2% |
| Financial income | 75/76B | €33 | €20 | -€12 | -37.6% |
| Recurring financial income | 75 | €33 | €20 | -€12 | -37.6% |
| Financial charges | 65/66B | €5,368 | €10,586 | +€5,218 | +97.2% |
| Recurring financial charges | 65 | €5,368 | €10,586 | +€5,218 | +97.2% |
| Profit (loss) for the period before taxes | 9903 | €66,321 | €57,369 | -€8,951 | -13.5% |
| Income taxes | 67/77 | €19,850 | €14,130 | -€5,719 | -28.8% |
| Profit (loss) for the period | 9904 | €46,471 | €43,239 | -€3,232 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,471 | €43,239 | -€3,232 | -7.0% |
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 17 October 2026 via checked.be.