EYED PHARMA: 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.
What changed
EYED PHARMA
NACE 72.101, Research and development on biotechnology
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€6.9m
2024 · -€6.9m+€19,422
Equity
€17.4m
2024 · €22.8m-€5.4m
Cash
€1.3m
2024 · €1.2m+€86,433
Balance sheet total
€50.6m
2024 · €42.3m+€8.3m
Largest movements
Assets
- Receivables within one year +€4.8m
up €4.8m (+55.8%), from €8.6m to €13.4m
of which Other amounts receivable: +€4.8m
- Intangible fixed assets +€3.4m
up €3.4m (+11.8%), from €28.8m to €32.2m
Equity and liabilities
- Debts after one year +€14.6m
up €14.6m (+141%), from €10.3m to €24.9m
- Profit (loss) carried forward -€6.9m
down €6.9m (-53.3%), from -€13.0m to -€19.9m
- Investment grants +€1.5m
up €1.5m (+13.8%), from €10.9m to €12.4m
- Trade debts -€1.1m
down €1.1m (-45.8%), from €2.4m to €1.3m
Income statement
- Purchases and services -€1.5m
down €1.5m (-13.4%), from €11.5m to €10.0m
- Turnover -€1.3m
down €1.3m (-10.8%), from €11.8m to €10.5m
- Depreciation +€1.1m
up €1.1m (+24.1%), from €4.4m to €5.5m
- Financial charges +€952,384
up €952,384 (+267%), from €356,435 to €1.3m
- Financial income +€907,769
up €907,769 (+64.9%), from €1.4m to €2.3m
of which Financial income: +€897,304
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
-€6.9m
Gross operating margin
+€276,912
Staff costs
+€907,371
Depreciation
-€1.1m
Other operating charges
+€19,609
Financial income
+€907,769
Financial charges
-€952,384
Taxes
-€78,888
Result 2025
-€6.9m
raises the resultlowers the result
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.
From operations
-€7.5m
Investment
-€8.9m
Financing
+€16.5m
Cash 2024
€1.2m
From operations (derived)
-€7.5m
Net result for the year
-€6.9m
Depreciation
+€5.5m
Receivables after one year
-€222,091
Receivables within one year
-€4.8m
Deferred charges and accrued income
+€267,810
Trade debts
-€1.1m
Tax, wage and social debts
-€308,126
Other debts
-€528
Accrued charges and deferred income
+€162,123
Investment (derived)
-€8.9m
Investment in fixed assets (net)
-€8.9m
Financing
+€16.5m
Debts after one year
+€14.6m
Current portion of long-term debt
+€376,682
Short-term financial debts
+€488
Contributions, distributions and other
+€1.5m
Cash 2025
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,332,692 | €50,613,449 | +€8.3m | +19.6% |
| Fixed assets | 21/28 | €29,077,491 | €32,504,555 | +€3.4m | +11.8% |
| Intangible fixed assets | 21 | €28,753,359 | €32,150,661 | +€3.4m | +11.8% |
| Tangible fixed assets | 22/27 | €309,582 | €342,244 | +€32,662 | +10.6% |
| Plant, machinery and equipment | 23 | €281,340 | €319,517 | +€38,177 | +13.6% |
| Furniture and vehicles | 24 | €28,242 | €22,727 | -€5,515 | -19.5% |
| Financial fixed assets | 28 | €14,550 | €11,650 | -€2,900 | -19.9% |
| Current assets | 29/58 | €13,255,201 | €18,108,894 | +€4.9m | +36.6% |
| Amounts receivable after more than one year | 29 | €1,392,237 | €1,614,328 | +€222,091 | +16.0% |
| Other amounts receivable | 291 | €1,392,237 | €1,614,328 | +€222,091 | +16.0% |
| Amounts receivable within one year | 40/41 | €8,617,813 | €13,430,792 | +€4.8m | +55.8% |
| Trade receivables | 40 | €299,185 | €314,569 | +€15,384 | +5.1% |
| Other amounts receivable | 41 | €8,318,628 | €13,116,223 | +€4.8m | +57.7% |
| Cash at bank and in hand | 54/58 | €1,214,166 | €1,300,599 | +€86,433 | +7.1% |
| Deferred charges and accrued income | 490/1 | €2,030,985 | €1,763,175 | -€267,810 | -13.2% |
| Total equity and liabilities | 10/49 | €42,332,692 | €50,613,449 | +€8.3m | +19.6% |
| Equity | 10/15 | €22,782,731 | €17,370,564 | -€5.4m | -23.8% |
| Contributions | 10/11 | €24,847,913 | €24,847,913 | = | 0.0% |
| Capital | 10 | €24,847,913 | €24,847,913 | = | 0.0% |
| Issued capital | 100 | €24,847,913 | €24,847,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,975,077 | -€19,896,564 | -€6.9m | -53.3% |
| Investment grants | 15 | €10,909,895 | €12,419,215 | +€1.5m | +13.8% |
| Amounts payable | 17/49 | €19,549,961 | €33,242,885 | +€13.7m | +70.0% |
| Amounts payable after more than one year | 17 | €10,346,986 | €24,917,683 | +€14.6m | +141% |
| Financial debts | 170/4 | €10,346,986 | €24,917,683 | +€14.6m | +141% |
| Amounts payable within one year | 42/48 | €9,194,304 | €8,154,408 | -€1.0m | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €619,642 | €996,324 | +€376,682 | +60.8% |
| Financial debts | 43 | €5,500,000 | €5,500,488 | +€488 | 0.0% |
| Credit institutions | 430/8 | €5,500,000 | €5,500,488 | +€488 | 0.0% |
| Trade debts | 44 | €2,418,586 | €1,310,174 | -€1.1m | -45.8% |
| Suppliers | 440/4 | €2,418,586 | €1,310,174 | -€1.1m | -45.8% |
| Taxes, remuneration and social security | 45 | €655,548 | €347,422 | -€308,126 | -47.0% |
| Remuneration and social security | 454/9 | €655,548 | €347,422 | -€308,126 | -47.0% |
| Other amounts payable | 47/48 | €528 | - | -€528 | |
| Accrued charges and deferred income | 492/3 | €8,671 | €170,794 | +€162,123 | +1,870% |
| Turnover | 70 | €11,761,713 | €10,494,903 | -€1.3m | -10.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,507,590 | €9,963,868 | -€1.5m | -13.4% |
| Remuneration, social security and pensions | 62 | €4,060,087 | €3,152,716 | -€907,371 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,407,778 | €5,468,745 | +€1.1m | +24.1% |
| Other operating charges | 640/8 | €95,165 | €75,556 | -€19,609 | -20.6% |
| Gross operating margin | 9900 | €254,123 | €531,035 | +€276,912 | +109% |
| Operating profit (loss) | 9901 | -€8,308,907 | -€8,165,982 | +€142,925 | +1.7% |
| Financial income | 75/76B | €1,399,709 | €2,307,478 | +€907,769 | +64.9% |
| Recurring financial income | 75 | €1,399,709 | €2,297,013 | +€897,304 | +64.1% |
| Non-recurring financial income | 76B | - | €10,465 | +€10,465 | |
| Financial charges | 65/66B | €356,435 | €1,308,819 | +€952,384 | +267% |
| Recurring financial charges | 65 | €356,435 | €1,308,819 | +€952,384 | +267% |
| Profit (loss) for the period before taxes | 9903 | -€7,265,633 | -€7,167,323 | +€98,310 | +1.4% |
| Income taxes | 67/77 | -€324,723 | -€245,835 | +€78,888 | +24.3% |
| Profit (loss) for the period | 9904 | -€6,940,910 | -€6,921,488 | +€19,422 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,940,910 | -€6,921,488 | +€19,422 | +0.3% |
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 14 October 2026 via checked.be.