FARMA V.T.B.: 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.
FARMA V.T.B.
Largest movements
- Receivables within one year -€21,247
down €21,247 (-13.9%), from €152,801 to €131,554
of which Trade receivables: -€28,551
- Cash +€7,784
up €7,784 (+6.1%), from €128,299 to €136,083
mainly Net result for the year (+€117,361) and Receivables within one year (+€21,247)
- Stocks and contracts +€7,586
up €7,586 (+5.8%), from €130,705 to €138,291
- Tangible fixed assets +€5,452
up €5,452 (+16.8%), from €32,369 to €37,821
of which Plant, machinery and equipment: +€7,100
- Reserves +€30,361
up €30,361 (+25.0%), from €121,214 to €151,575
- Other debts -€15,242
down €15,242 (-7.1%), from €214,452 to €199,210
- Trade debts -€12,132
down €12,132 (-14.3%), from €84,945 to €72,814
- Gross operating margin -€36,013
down €36,013 (-14.7%), from €245,566 to €209,553
- Taxes -€6,215
down €6,215 (-38.3%), from €16,242 to €10,028
- Staff costs +€2,771
up €2,771 (+4.0%), from €69,211 to €71,982
- Depreciation -€2,679
down €2,679 (-24.7%), from €10,862 to €8,182
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €453,433 | €456,718 | +€3,286 | +0.7% |
| Fixed assets | 21/28 | €37,455 | €46,528 | +€9,072 | +24.2% |
| Tangible fixed assets | 22/27 | €32,369 | €37,821 | +€5,452 | +16.8% |
| Land and buildings | 22 | €24,673 | €23,025 | -€1,648 | -6.7% |
| Plant, machinery and equipment | 23 | €7,696 | €14,796 | +€7,100 | +92.3% |
| Financial fixed assets | 28 | €5,087 | €8,707 | +€3,620 | +71.2% |
| Current assets | 29/58 | €415,977 | €410,191 | -€5,787 | -1.4% |
| Stocks and contracts in progress | 3 | €130,705 | €138,291 | +€7,586 | +5.8% |
| Stocks | 30/36 | €130,705 | €138,291 | +€7,586 | +5.8% |
| Amounts receivable within one year | 40/41 | €152,801 | €131,554 | -€21,247 | -13.9% |
| Trade receivables | 40 | €148,911 | €120,360 | -€28,551 | -19.2% |
| Other amounts receivable | 41 | €3,890 | €11,194 | +€7,304 | +188% |
| Cash at bank and in hand | 54/58 | €128,299 | €136,083 | +€7,784 | +6.1% |
| Deferred charges and accrued income | 490/1 | €4,173 | €4,263 | +€90 | +2.2% |
| Total equity and liabilities | 10/49 | €453,433 | €456,718 | +€3,286 | +0.7% |
| Equity | 10/15 | €139,806 | €170,167 | +€30,361 | +21.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €121,214 | €151,575 | +€30,361 | +25.0% |
| Distributable reserves | 133 | €121,214 | €151,575 | +€30,361 | +25.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €313,627 | €286,551 | -€27,076 | -8.6% |
| Amounts payable within one year | 42/48 | €313,627 | €286,551 | -€27,076 | -8.6% |
| Trade debts | 44 | €84,945 | €72,814 | -€12,132 | -14.3% |
| Suppliers | 440/4 | €84,945 | €72,814 | -€12,132 | -14.3% |
| Taxes, remuneration and social security | 45 | €14,229 | €14,528 | +€298 | +2.1% |
| Taxes | 450/3 | €5,242 | €5,270 | +€28 | +0.5% |
| Remuneration and social security | 454/9 | €8,987 | €9,258 | +€271 | +3.0% |
| Other amounts payable | 47/48 | €214,452 | €199,210 | -€15,242 | -7.1% |
| Remuneration, social security and pensions | 62 | €69,211 | €71,982 | +€2,771 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,862 | €8,182 | -€2,679 | -24.7% |
| Other operating charges | 640/8 | €997 | €920 | -€77 | -7.7% |
| Gross operating margin | 9900 | €245,566 | €209,553 | -€36,013 | -14.7% |
| Operating profit (loss) | 9901 | €164,497 | €128,469 | -€36,028 | -21.9% |
| Financial income | 75/76B | €370 | €974 | +€604 | +163% |
| Recurring financial income | 75 | €370 | €974 | +€604 | +163% |
| Financial charges | 65/66B | €1,495 | €2,054 | +€560 | +37.4% |
| Recurring financial charges | 65 | €1,495 | €2,054 | +€560 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €163,372 | €127,389 | -€35,983 | -22.0% |
| Income taxes | 67/77 | €16,242 | €10,028 | -€6,215 | -38.3% |
| Profit (loss) for the period | 9904 | €147,129 | €117,361 | -€29,768 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €147,129 | €117,361 | -€29,768 | -20.2% |
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 25 October 2026 via checked.be.