Eqwal: 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
Eqwal
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €2.4m-€1.2m
Equity
€7.6m
2024 · €9.7m-€2.1m
Cash
€10,669
2024 · €158,465-€147,796
Balance sheet total
€21.6m
2024 · €24.3m-€2.7m
Largest movements
Assets
- Receivables within one year -€4.7m
down €4.7m (-32.8%), from €14.5m to €9.7m
of which Other amounts receivable: -€2.6m
- Tangible fixed assets +€1.4m
up €1.4m (+59.9%), from €2.4m to €3.9m
of which Other tangible fixed assets: +€825,866
- Stocks and contracts +€660,765
up €660,765 (+14.1%), from €4.7m to €5.3m
Equity and liabilities
- Profit (loss) carried forward -€2.1m
down €2.1m (-82.4%), from €2.5m to €448,792
- Other debts -€591,434
down €591,434 (-14.5%), from €4.1m to €3.5m
Income statement
- Turnover +€4.5m
up €4.5m (+13.0%), from €34.5m to €38.9m
- Staff costs +€2.5m
up €2.5m (+22.2%), from €11.3m to €13.8m
- Goods and materials +€1.7m
up €1.7m (+16.8%), from €10.0m to €11.7m
of which Purchases: +€1.6m
- Services and other goods +€1.3m
up €1.3m (+12.9%), from €10.2m to €11.5m
- Other operating charges +€818,799
up €818,799 (+963.6%), from €84,977 to €903,775
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
€2.4m
Turnover
+€4.5m
Other operating income
+€566,373
Goods and materials
-€1.7m
Services and other goods
-€1.3m
Staff costs
-€2.5m
Depreciation
-€260,645
Write-downs
-€284,514
Other operating charges
-€818,799
Other operating items
+€305,458
Financial income
-€30,985
Financial charges
-€17,034
Taxes
+€392,975
Result 2025
€1.2m
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
+€6.0m
Investment
-€2.9m
Financing
-€3.2m
Cash 2024
€158,465
From operations (derived)
+€6.0m
Net result for the year
+€1.2m
Depreciation
+€1.5m
Stocks and contracts
-€660,765
Receivables within one year
+€4.7m
Deferred charges and accrued income
-€79,145
Trade debts
-€161,694
Tax, wage and social debts
-€30,396
Other debts
-€591,434
Accrued charges and deferred income
+€139,267
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Financing
-€3.2m
Debts after one year
+€59,958
Current portion of long-term debt
+€3,192
Contributions, distributions and other
-€3.3m
Cash 2025
€10,669
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,325,952 | €21,646,318 | -€2.7m | -11.0% |
| Fixed assets | 21/28 | €4,739,325 | €6,210,929 | +€1.5m | +31.1% |
| Intangible fixed assets | 21 | €2,182,965 | €2,073,792 | -€109,173 | -5.0% |
| Tangible fixed assets | 22/27 | €2,414,103 | €3,860,311 | +€1.4m | +59.9% |
| Land and buildings | 22 | €109,974 | €142,386 | +€32,412 | +29.5% |
| Plant, machinery and equipment | 23 | €1,170,296 | €1,419,119 | +€248,823 | +21.3% |
| Furniture and vehicles | 24 | €359,884 | €493,606 | +€133,722 | +37.2% |
| Leasing and similar rights | 25 | €186,656 | €392,042 | +€205,386 | +110.0% |
| Other tangible fixed assets | 26 | €587,292 | €1,413,158 | +€825,866 | +140.6% |
| Financial fixed assets | 28 | €142,258 | €276,826 | +€134,568 | +94.6% |
| Affiliated companies | 280/1 | €3,087 | €3,087 | +€0 | 0.0% |
| Participating interests | 280 | €3,087 | €3,087 | +€0 | 0.0% |
| Other financial fixed assets | 284/8 | €139,171 | €273,739 | +€134,568 | +96.7% |
| Amounts receivable and cash guarantees | 285/8 | €139,171 | €273,739 | +€134,568 | +96.7% |
| Current assets | 29/58 | €19,586,627 | €15,435,389 | -€4.2m | -21.2% |
| Stocks and contracts in progress | 3 | €4,682,525 | €5,343,290 | +€660,765 | +14.1% |
| Stocks | 30/36 | €4,682,525 | €5,343,290 | +€660,765 | +14.1% |
| Raw materials and consumables | 30/31 | €1,572,295 | €1,889,084 | +€316,789 | +20.1% |
| Work in progress | 32 | €114,067 | €99,766 | -€14,301 | -12.5% |
| Finished goods | 33 | €600,093 | €675,784 | +€75,691 | +12.6% |
| Goods purchased for resale | 34 | €2,396,071 | €2,678,656 | +€282,585 | +11.8% |
| Amounts receivable within one year | 40/41 | €14,465,807 | €9,722,456 | -€4.7m | -32.8% |
| Trade receivables | 40 | €10,398,104 | €8,225,238 | -€2.2m | -20.9% |
| Other amounts receivable | 41 | €4,067,704 | €1,497,218 | -€2.6m | -63.2% |
| Cash at bank and in hand | 54/58 | €158,465 | €10,669 | -€147,796 | -93.3% |
| Deferred charges and accrued income | 490/1 | €279,829 | €358,974 | +€79,145 | +28.3% |
| Total equity and liabilities | 10/49 | €24,325,952 | €21,646,318 | -€2.7m | -11.0% |
| Equity | 10/15 | €9,722,494 | €7,623,967 | -€2.1m | -21.6% |
| Contributions | 10/11 | €808,686 | €808,686 | -€0 | 0.0% |
| Capital | 10 | €808,686 | €808,686 | -€0 | 0.0% |
| Issued capital | 100 | €821,086 | €808,686 | -€12,400 | -1.5% |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €6,366,489 | €6,366,489 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €73,280 | €73,281 | +€1 | 0.0% |
| Legal reserve | 130 | €73,280 | €73,281 | +€1 | 0.0% |
| Tax-exempt reserves | 132 | €3,810 | €3,810 | -€0 | 0.0% |
| Distributable reserves | 133 | €6,289,398 | €6,289,398 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €2,547,319 | €448,792 | -€2.1m | -82.4% |
| Amounts payable | 17/49 | €14,603,458 | €14,022,351 | -€581,107 | -4.0% |
| Amounts payable after more than one year | 17 | €245,056 | €305,014 | +€59,958 | +24.5% |
| Financial debts | 170/4 | €245,056 | €305,014 | +€59,958 | +24.5% |
| Leasing and similar obligations | 172 | €245,056 | €305,014 | +€59,958 | +24.5% |
| Amounts payable within one year | 42/48 | €14,351,601 | €13,571,268 | -€780,333 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €171,570 | €174,762 | +€3,192 | +1.9% |
| Trade debts | 44 | €5,836,618 | €5,674,924 | -€161,694 | -2.8% |
| Suppliers | 440/4 | €5,836,618 | €5,674,924 | -€161,694 | -2.8% |
| Taxes, remuneration and social security | 45 | €4,269,843 | €4,239,447 | -€30,396 | -0.7% |
| Taxes | 450/3 | €1,575,240 | €1,570,519 | -€4,721 | -0.3% |
| Remuneration and social security | 454/9 | €2,694,603 | €2,668,928 | -€25,675 | -1.0% |
| Other amounts payable | 47/48 | €4,073,569 | €3,482,135 | -€591,434 | -14.5% |
| Accrued charges and deferred income | 492/3 | €6,802 | €146,069 | +€139,267 | +2047.6% |
| Operating income | 70/76A | €36,147,770 | €41,485,433 | +€5.3m | +14.8% |
| Turnover | 70 | €34,482,310 | €38,948,143 | +€4.5m | +13.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €219,888 | €61,390 | -€158,498 | -72.1% |
| Other operating income | 74 | €1,445,571 | €2,011,944 | +€566,373 | +39.2% |
| Non-recurring operating income | 76A | €0 | €463,956 | +€463,956 | +125393413.5% |
| Operating charges | 60/66A | €32,945,571 | €39,812,220 | +€6.9m | +20.8% |
| Goods for resale, raw materials and consumables | 60 | €10,004,883 | €11,689,301 | +€1.7m | +16.8% |
| Purchases | 600/8 | €10,669,706 | €12,288,676 | +€1.6m | +15.2% |
| Change in stocks: decrease (increase) | 609 | -€664,823 | -€599,375 | +€65,448 | +9.8% |
| Services and other goods | 61 | €10,214,181 | €11,532,481 | +€1.3m | +12.9% |
| Remuneration, social security and pensions | 62 | €11,285,213 | €13,785,187 | +€2.5m | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,195,062 | €1,455,707 | +€260,645 | +21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €161,255 | €445,769 | +€284,514 | +176.4% |
| Other operating charges | 640/8 | €84,977 | €903,775 | +€818,799 | +963.6% |
| Operating profit (loss) | 9901 | €3,202,199 | €1,673,213 | -€1.5m | -47.7% |
| Financial income | 75/76B | €247,452 | €216,467 | -€30,985 | -12.5% |
| Recurring financial income | 75 | €247,452 | €216,467 | -€30,985 | -12.5% |
| Income from current assets | 751 | €163,985 | €61,153 | -€102,832 | -62.7% |
| Other financial income | 752/9 | €83,467 | €155,314 | +€71,847 | +86.1% |
| Financial charges | 65/66B | €64,758 | €81,792 | +€17,034 | +26.3% |
| Recurring financial charges | 65 | €64,758 | €81,792 | +€17,034 | +26.3% |
| Debt charges | 650 | €24,789 | €69,816 | +€45,027 | +181.6% |
| Other financial charges | 652/9 | €39,969 | €11,976 | -€27,993 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €3,384,892 | €1,807,888 | -€1.6m | -46.6% |
| Income taxes | 67/77 | €999,390 | €606,415 | -€392,975 | -39.3% |
| Taxes | 670/3 | €1,287,274 | €659,573 | -€627,701 | -48.8% |
| Tax adjustments and reversals of tax provisions | 77 | €287,885 | €53,158 | -€234,727 | -81.5% |
| Profit (loss) for the period | 9904 | €2,385,502 | €1,201,473 | -€1.2m | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,385,502 | €1,201,473 | -€1.2m | -49.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.