ESPharma: 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.
ESPharma
Largest movements
- Receivables after one year +€40,000
new in 2025: €40,000
- Receivables within one year +€5,853
up €5,853 (+257.9%), from €2,269 to €8,122
- Cash +€1,470
up €1,470 (+5.9%), from €25,044 to €26,514
mainly Net result for the year (+€40,204) and Tax, wage and social debts (+€8,006)
- Profit (loss) carried forward +€39,371
up €39,371 (+268.6%), from €14,658 to €54,029
- Tax, wage and social debts +€8,006
up €8,006 (+85.8%), from €9,327 to €17,333
- Trade debts +€962
up €962 (+601.3%), from €160 to €1,122
- Other debts -€827
down €827 (-49.6%), from €1,669 to €841
- Gross operating margin +€30,617
up €30,617 (+149.0%), from €20,543 to €51,161
- Taxes +€7,150
up €7,150 (+177.8%), from €4,021 to €11,171
- Depreciation -€1,024
no longer reported in 2025 (was €1,024)
- Financial income +€700
new in 2025: €700
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 | €27,314 | €74,825 | +€47,511 | +173.9% |
| Current assets | 29/58 | €27,314 | €74,825 | +€47,511 | +173.9% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Amounts receivable within one year | 40/41 | €2,269 | €8,122 | +€5,853 | +257.9% |
| Trade receivables | 40 | €2,269 | €8,122 | +€5,853 | +257.9% |
| Cash at bank and in hand | 54/58 | €25,044 | €26,514 | +€1,470 | +5.9% |
| Deferred charges and accrued income | 490/1 | - | €189 | +€189 | |
| Total equity and liabilities | 10/49 | €27,314 | €74,825 | +€47,511 | +173.9% |
| Equity | 10/15 | €16,158 | €55,529 | +€39,371 | +243.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,658 | €54,029 | +€39,371 | +268.6% |
| Amounts payable | 17/49 | €11,155 | €19,296 | +€8,140 | +73.0% |
| Amounts payable within one year | 42/48 | €11,155 | €19,296 | +€8,140 | +73.0% |
| Trade debts | 44 | €160 | €1,122 | +€962 | +601.3% |
| Suppliers | 440/4 | €160 | €1,122 | +€962 | +601.3% |
| Taxes, remuneration and social security | 45 | €9,327 | €17,333 | +€8,006 | +85.8% |
| Taxes | 450/3 | €9,327 | €17,333 | +€8,006 | +85.8% |
| Other amounts payable | 47/48 | €1,669 | €841 | -€827 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,024 | - | -€1,024 | |
| Other operating charges | 640/8 | - | €441 | +€441 | |
| Gross operating margin | 9900 | €20,543 | €51,161 | +€30,617 | +149.0% |
| Operating profit (loss) | 9901 | €19,520 | €50,719 | +€31,199 | +159.8% |
| Financial income | 75/76B | - | €700 | +€700 | |
| Recurring financial income | 75 | - | €700 | +€700 | |
| Financial charges | 65/66B | €8 | €45 | +€38 | +500.0% |
| Recurring financial charges | 65 | €8 | €45 | +€38 | +500.0% |
| Profit (loss) for the period before taxes | 9903 | €19,512 | €51,375 | +€31,862 | +163.3% |
| Income taxes | 67/77 | €4,021 | €11,171 | +€7,150 | +177.8% |
| Profit (loss) for the period | 9904 | €15,491 | €40,204 | +€24,713 | +159.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,491 | €40,204 | +€24,713 | +159.5% |
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.