DEMAPHARMA: what changed
Two fiscal 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
DEMAPHARMA
NACE 47.730, Retail sale of pharmaceutical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€17,290
2024 · €24,063-€6,773
Equity
€385,336
2024 · €368,046+€17,290
Cash
€8,543
2024 · €3,739+€4,804
Balance sheet total
€659,253
2024 · €689,799-€30,546
Largest movements
Assets
- Tangible fixed assets -€29,809
down €29,809 (-14.6%), from €204,236 to €174,427
Equity and liabilities
- Debts after one year -€69,530
down €69,530 (-28.0%), from €248,034 to €178,504
of which Financial debts: -€60,841
- Reserves +€17,290
up €17,290 (+4.9%), from €349,446 to €366,736
- Other debts +€14,471
new in 2025: €14,471
- Trade debts +€7,179
up €7,179 (+341.9%), from €2,100 to €9,279
Income statement
- Gross operating margin -€6,131
down €6,131 (-4.8%), from €128,911 to €122,780
- Financial charges -€3,944
down €3,944 (-20.8%), from €18,988 to €15,044
- Taxes +€2,178
up €2,178 (+29.1%), from €7,485 to €9,663
- Staff costs +€1,805
up €1,805 (+3.9%), from €45,739 to €47,544
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
€24,063
Gross operating margin
-€6,131
Staff costs
-€1,805
Depreciation
-€328
Other operating charges
-€256
Other operating items
-€106
Financial income
+€88
Financial charges
+€3,944
Taxes
-€2,178
Result 2025
€17,290
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
+€72,427
Investment
-€387
Financing
-€67,235
Cash 2024
€3,739
From operations (derived)
+€72,427
Net result for the year
+€17,290
Depreciation
+€29,809
Receivables within one year
+€6,475
Deferred charges and accrued income
-€547
Trade debts
+€7,179
Tax, wage and social debts
-€2,267
Other debts
+€14,471
Accrued charges and deferred income
+€16
Investment (derived)
-€387
Investment in fixed assets (net)
+€0
Current investments
-€387
Financing
-€67,235
Debts after one year
-€69,530
Current portion of long-term debt
+€2,279
Short-term financial debts
+€16
Cash 2025
€8,543
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €689,799 | €659,253 | -€30,546 | -4.4% |
| Fixed assets | 21/28 | €661,507 | €631,698 | -€29,809 | -4.5% |
| Tangible fixed assets | 22/27 | €204,236 | €174,427 | -€29,809 | -14.6% |
| Land and buildings | 22 | €122,023 | €107,905 | -€14,118 | -11.6% |
| Furniture and vehicles | 24 | €3,837 | €2,860 | -€977 | -25.5% |
| Other tangible fixed assets | 26 | €78,376 | €63,663 | -€14,714 | -18.8% |
| Financial fixed assets | 28 | €457,270 | €457,270 | = | 0.0% |
| Current assets | 29/58 | €28,292 | €27,556 | -€737 | -2.6% |
| Amounts receivable within one year | 40/41 | €11,057 | €4,582 | -€6,475 | -58.6% |
| Trade receivables | 40 | €0 | €1 | +€1 | |
| Other amounts receivable | 41 | €11,057 | €4,581 | -€6,476 | -58.6% |
| Current investments | 50/53 | €11,000 | €11,387 | +€387 | +3.5% |
| Cash at bank and in hand | 54/58 | €3,739 | €8,543 | +€4,804 | +128.5% |
| Deferred charges and accrued income | 490/1 | €2,497 | €3,044 | +€547 | +21.9% |
| Total equity and liabilities | 10/49 | €689,799 | €659,253 | -€30,546 | -4.4% |
| Equity | 10/15 | €368,046 | €385,336 | +€17,290 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €349,446 | €366,736 | +€17,290 | +4.9% |
| Distributable reserves | 133 | €349,446 | €366,736 | +€17,290 | +4.9% |
| Amounts payable | 17/49 | €321,753 | €273,917 | -€47,836 | -14.9% |
| Amounts payable after more than one year | 17 | €248,034 | €178,504 | -€69,530 | -28.0% |
| Financial debts | 170/4 | €229,575 | €168,735 | -€60,841 | -26.5% |
| Other amounts payable | 178/9 | €18,458 | €9,769 | -€8,689 | -47.1% |
| Amounts payable within one year | 42/48 | €73,720 | €95,398 | +€21,678 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €58,562 | €60,841 | +€2,279 | +3.9% |
| Financial debts | 43 | €2,329 | €2,345 | +€16 | +0.7% |
| Credit institutions | 430/8 | €2,329 | €2,345 | +€16 | +0.7% |
| Trade debts | 44 | €2,100 | €9,279 | +€7,179 | +341.9% |
| Suppliers | 440/4 | €2,100 | €9,279 | +€7,179 | +341.9% |
| Taxes, remuneration and social security | 45 | €10,728 | €8,461 | -€2,267 | -21.1% |
| Taxes | 450/3 | €2,403 | €1,507 | -€896 | -37.3% |
| Remuneration and social security | 454/9 | €8,325 | €6,954 | -€1,371 | -16.5% |
| Other amounts payable | 47/48 | - | €14,471 | +€14,471 | |
| Accrued charges and deferred income | 492/3 | - | €16 | +€16 | |
| Non-recurring operating income | 76A | €0 | €0 | +€0 | |
| Remuneration, social security and pensions | 62 | €45,739 | €47,544 | +€1,805 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,480 | €29,809 | +€328 | +1.1% |
| Other operating charges | 640/8 | €2,874 | €3,130 | +€256 | +8.9% |
| Non-recurring operating charges | 66A | €281 | €387 | +€106 | +37.7% |
| Gross operating margin | 9900 | €128,911 | €122,780 | -€6,131 | -4.8% |
| Operating profit (loss) | 9901 | €50,537 | €41,910 | -€8,627 | -17.1% |
| Financial income | 75/76B | - | €88 | +€88 | |
| Recurring financial income | 75 | - | €88 | +€88 | |
| Financial charges | 65/66B | €18,988 | €15,044 | -€3,944 | -20.8% |
| Recurring financial charges | 65 | €18,988 | €15,044 | -€3,944 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €31,548 | €26,953 | -€4,595 | -14.6% |
| Income taxes | 67/77 | €7,485 | €9,663 | +€2,178 | +29.1% |
| Profit (loss) for the period | 9904 | €24,063 | €17,290 | -€6,773 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,063 | €17,290 | -€6,773 | -28.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.