FARMACON: 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.
FARMACON
Largest movements
- Tangible fixed assets -€88,426
down €88,426 (-13.6%), from €652,120 to €563,694
of which Land and buildings: -€56,818
- Cash -€36,593
down €36,593 (-33.6%), from €109,049 to €72,456
mainly Debts after one year (-€57,886) and Other debts (-€32,794)
- Deferred charges and accrued income +€20,175
up €20,175 (+22.0%), from €91,538 to €111,713
- Debts after one year -€57,886
down €57,886 (-11.8%), from €491,026 to €433,140
- Other debts -€32,794
down €32,794 (-51.6%), from €63,538 to €30,744
- Accrued charges and deferred income -€21,188
down €21,188 (-70.2%), from €30,170 to €8,983
- Profit (loss) carried forward +€16,845
up €16,845 (+1.5%), from -€1.1m to -€1.1m
- Current portion of long-term debt -€15,469
down €15,469 (-21.1%), from €73,356 to €57,886
- Gross operating margin +€55,344
up €55,344 (+23.3%), from €237,955 to €293,299
- Depreciation -€5,000
down €5,000 (-5.3%), from €93,603 to €88,603
- Financial charges -€3,175
down €3,175 (-66.0%), from €4,815 to €1,639
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 | €1,027,638 | €929,902 | -€97,736 | -9.5% |
| Fixed assets | 21/28 | €652,596 | €563,993 | -€88,603 | -13.6% |
| Intangible fixed assets | 21 | €177 | - | -€177 | |
| Tangible fixed assets | 22/27 | €652,120 | €563,694 | -€88,426 | -13.6% |
| Land and buildings | 22 | €489,310 | €432,492 | -€56,818 | -11.6% |
| Plant, machinery and equipment | 23 | €135,477 | €110,865 | -€24,611 | -18.2% |
| Furniture and vehicles | 24 | €27,333 | €20,336 | -€6,997 | -25.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €375,042 | €365,909 | -€9,133 | -2.4% |
| Stocks and contracts in progress | 3 | €148,626 | €152,630 | +€4,004 | +2.7% |
| Stocks | 30/36 | €148,626 | €152,630 | +€4,004 | +2.7% |
| Amounts receivable within one year | 40/41 | €25,829 | €29,110 | +€3,281 | +12.7% |
| Trade receivables | 40 | €5,998 | €29,048 | +€23,050 | +384% |
| Other amounts receivable | 41 | €19,831 | €62 | -€19,769 | -99.7% |
| Cash at bank and in hand | 54/58 | €109,049 | €72,456 | -€36,593 | -33.6% |
| Deferred charges and accrued income | 490/1 | €91,538 | €111,713 | +€20,175 | +22.0% |
| Total equity and liabilities | 10/49 | €1,027,638 | €929,902 | -€97,736 | -9.5% |
| Equity | 10/15 | €212,772 | €229,617 | +€16,845 | +7.9% |
| Contributions | 10/11 | €1,170,000 | €1,170,000 | = | 0.0% |
| Reserves | 13 | €133,496 | €133,496 | = | 0.0% |
| Tax-exempt reserves | 132 | €126 | €126 | = | 0.0% |
| Distributable reserves | 133 | €133,369 | €133,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,090,724 | -€1,073,879 | +€16,845 | +1.5% |
| Amounts payable | 17/49 | €814,866 | €700,285 | -€114,581 | -14.1% |
| Amounts payable after more than one year | 17 | €491,026 | €433,140 | -€57,886 | -11.8% |
| Financial debts | 170/4 | €491,026 | €433,140 | -€57,886 | -11.8% |
| Amounts payable within one year | 42/48 | €293,670 | €258,163 | -€35,507 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €73,356 | €57,886 | -€15,469 | -21.1% |
| Trade debts | 44 | €138,396 | €141,794 | +€3,399 | +2.5% |
| Suppliers | 440/4 | €138,396 | €141,794 | +€3,399 | +2.5% |
| Taxes, remuneration and social security | 45 | €18,381 | €27,738 | +€9,358 | +50.9% |
| Taxes | 450/3 | €109 | €3,782 | +€3,673 | +3,373% |
| Remuneration and social security | 454/9 | €18,272 | €23,957 | +€5,685 | +31.1% |
| Other amounts payable | 47/48 | €63,538 | €30,744 | -€32,794 | -51.6% |
| Accrued charges and deferred income | 492/3 | €30,170 | €8,983 | -€21,188 | -70.2% |
| Remuneration, social security and pensions | 62 | €187,376 | €185,322 | -€2,054 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,603 | €88,603 | -€5,000 | -5.3% |
| Other operating charges | 640/8 | €2,521 | €2,545 | +€24 | +0.9% |
| Gross operating margin | 9900 | €237,955 | €293,299 | +€55,344 | +23.3% |
| Operating profit (loss) | 9901 | -€45,545 | €16,829 | +€62,374 | |
| Financial income | 75/76B | €2,176 | €2,094 | -€82 | -3.8% |
| Recurring financial income | 75 | €2,176 | €2,094 | -€82 | -3.8% |
| Financial charges | 65/66B | €4,815 | €1,639 | -€3,175 | -66.0% |
| Recurring financial charges | 65 | €4,815 | €1,639 | -€3,175 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | -€48,184 | €17,283 | +€65,467 | |
| Income taxes | 67/77 | €329 | €438 | +€109 | +33.1% |
| Profit (loss) for the period | 9904 | -€48,514 | €16,845 | +€65,359 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,514 | €16,845 | +€65,359 |
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 20 October 2026 via checked.be.