ESBE - PHARMA: 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.
ESBE - PHARMA
Largest movements
- Cash +€112,713
up €112,713 (+23.0%), from €489,103 to €601,816
mainly Net result for the year (+€113,949) and Tax, wage and social debts (+€12,212)
- Stocks and contracts +€12,968
up €12,968 (+14.5%), from €89,516 to €102,484
- Reserves +€114,065
up €114,065 (+19.7%), from €578,694 to €692,759
- Tax, wage and social debts +€12,212
up €12,212 (+49.0%), from €24,922 to €37,135
- Other debts -€11,130
down €11,130 (-83.4%), from €13,350 to €2,220
- Gross operating margin +€17,708
up €17,708 (+10.4%), from €169,926 to €187,634
- Taxes +€5,358
up €5,358 (+10.8%), from €49,664 to €55,023
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 | €698,204 | €808,162 | +€109,958 | +15.7% |
| Fixed assets | 21/28 | €18,595 | €12,893 | -€5,702 | -30.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €18,595 | €12,893 | -€5,702 | -30.7% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €10,265 | €7,067 | -€3,198 | -31.2% |
| Furniture and vehicles | 24 | €8,330 | €5,826 | -€2,503 | -30.1% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €679,609 | €795,269 | +€115,660 | +17.0% |
| Stocks and contracts in progress | 3 | €89,516 | €102,484 | +€12,968 | +14.5% |
| Stocks | 30/36 | €89,516 | €102,484 | +€12,968 | +14.5% |
| Amounts receivable within one year | 40/41 | €827 | €2,133 | +€1,306 | +157.9% |
| Trade receivables | 40 | €190 | €1,243 | +€1,053 | +553.0% |
| Other amounts receivable | 41 | €637 | €890 | +€253 | +39.7% |
| Current investments | 50/53 | €55,500 | €49,500 | -€6,000 | -10.8% |
| Cash at bank and in hand | 54/58 | €489,103 | €601,816 | +€112,713 | +23.0% |
| Deferred charges and accrued income | 490/1 | €44,662 | €39,336 | -€5,326 | -11.9% |
| Total equity and liabilities | 10/49 | €698,204 | €808,162 | +€109,958 | +15.7% |
| Equity | 10/15 | €625,734 | €739,799 | +€114,065 | +18.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €578,694 | €692,759 | +€114,065 | +19.7% |
| Distributable reserves | 133 | €578,694 | €692,759 | +€114,065 | +19.7% |
| Profit (loss) carried forward | 14 | €28,440 | €28,440 | = | 0.0% |
| Amounts payable | 17/49 | €72,470 | €68,363 | -€4,106 | -5.7% |
| Amounts payable within one year | 42/48 | €72,460 | €68,355 | -€4,105 | -5.7% |
| Trade debts | 44 | €34,188 | €29,001 | -€5,187 | -15.2% |
| Suppliers | 440/4 | €34,188 | €29,001 | -€5,187 | -15.2% |
| Taxes, remuneration and social security | 45 | €24,922 | €37,135 | +€12,212 | +49.0% |
| Taxes | 450/3 | €24,922 | €37,135 | +€12,212 | +49.0% |
| Other amounts payable | 47/48 | €13,350 | €2,220 | -€11,130 | -83.4% |
| Accrued charges and deferred income | 492/3 | €9 | €8 | -€1 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,204 | €9,774 | +€570 | +6.2% |
| Other operating charges | 640/8 | €3,301 | €2,746 | -€555 | -16.8% |
| Gross operating margin | 9900 | €169,926 | €187,634 | +€17,708 | +10.4% |
| Operating profit (loss) | 9901 | €157,421 | €175,114 | +€17,693 | +11.2% |
| Financial income | 75/76B | €1,765 | €1,530 | -€235 | -13.3% |
| Recurring financial income | 75 | €1,765 | €1,530 | -€235 | -13.3% |
| Financial charges | 65/66B | €8,058 | €7,673 | -€385 | -4.8% |
| Recurring financial charges | 65 | €8,058 | €7,673 | -€385 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €151,128 | €168,972 | +€17,843 | +11.8% |
| Income taxes | 67/77 | €49,664 | €55,023 | +€5,358 | +10.8% |
| Profit (loss) for the period | 9904 | €101,464 | €113,949 | +€12,485 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €101,464 | €113,949 | +€12,485 | +12.3% |
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 29 September 2026 via checked.be.