Farmajes: 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
Farmajes
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,035
2024 · €30,291-€26,256
Equity
€85,951
2024 · €85,951
Cash
€60,577
2024 · €51,478+€9,099
Balance sheet total
€1.3m
2024 · €1.4m-€106,875
Largest movements
Assets
- Receivables within one year -€91,742
down €91,742 (-47.0%), from €195,114 to €103,372
of which Trade receivables: -€99,442
- Tangible fixed assets -€30,660
down €30,660 (-3.1%), from €984,629 to €953,969
of which Land and buildings: -€27,891
- Stocks and contracts +€17,356
up €17,356 (+15.5%), from €111,723 to €129,079
Equity and liabilities
- Other debts -€206,965
down €206,965 (-83.4%), from €248,281 to €41,316
- Short-term financial debts +€150,000
new in 2025: €150,000
- Debts after one year -€60,000
down €60,000 (-9.0%), from €670,000 to €610,000
Income statement
- Staff costs +€18,535
up €18,535 (+13.3%), from €138,854 to €157,389
- Gross operating margin -€8,164
down €8,164 (-3.4%), from €243,144 to €234,980
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
€30,291
Gross operating margin
-€8,164
Staff costs
-€18,535
Depreciation
-€770
Other operating charges
-€73
Financial income
+€654
Financial charges
-€1,393
Taxes
+€2,025
Result 2025
€4,035
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
-€64,634
Investment
-€12,231
Financing
+€85,965
Cash 2024
€51,478
From operations (derived)
-€64,634
Net result for the year
+€4,035
Depreciation
+€53,091
Stocks and contracts
-€17,356
Receivables within one year
+€91,742
Deferred charges and accrued income
+€729
Trade debts
+€4,999
Tax, wage and social debts
+€3,551
Other debts
-€206,965
Accrued charges and deferred income
+€1,540
Investment (derived)
-€12,231
Investment in fixed assets (net)
-€12,231
Financing
+€85,965
Debts after one year
-€60,000
Short-term financial debts
+€150,000
Contributions, distributions and other
-€4,035
Cash 2025
€60,577
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,389,412 | €1,282,537 | -€106,875 | -7.7% |
| Fixed assets | 21/28 | €1,020,902 | €980,042 | -€40,860 | -4.0% |
| Intangible fixed assets | 21 | €36,273 | €26,073 | -€10,200 | -28.1% |
| Tangible fixed assets | 22/27 | €984,629 | €953,969 | -€30,660 | -3.1% |
| Land and buildings | 22 | €940,875 | €912,983 | -€27,891 | -3.0% |
| Plant, machinery and equipment | 23 | €10,619 | €9,179 | -€1,439 | -13.6% |
| Furniture and vehicles | 24 | €33,136 | €31,806 | -€1,329 | -4.0% |
| Current assets | 29/58 | €368,510 | €302,495 | -€66,015 | -17.9% |
| Stocks and contracts in progress | 3 | €111,723 | €129,079 | +€17,356 | +15.5% |
| Stocks | 30/36 | €111,723 | €129,079 | +€17,356 | +15.5% |
| Amounts receivable within one year | 40/41 | €195,114 | €103,372 | -€91,742 | -47.0% |
| Trade receivables | 40 | €189,721 | €90,278 | -€99,442 | -52.4% |
| Other amounts receivable | 41 | €5,393 | €13,094 | +€7,700 | +143% |
| Cash at bank and in hand | 54/58 | €51,478 | €60,577 | +€9,099 | +17.7% |
| Deferred charges and accrued income | 490/1 | €10,196 | €9,467 | -€729 | -7.1% |
| Total equity and liabilities | 10/49 | €1,389,412 | €1,282,537 | -€106,875 | -7.7% |
| Equity | 10/15 | €85,951 | €85,951 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,351 | €67,351 | = | 0.0% |
| Distributable reserves | 133 | €67,351 | €67,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,303,461 | €1,196,586 | -€106,875 | -8.2% |
| Amounts payable after more than one year | 17 | €670,000 | €610,000 | -€60,000 | -9.0% |
| Financial debts | 170/4 | €670,000 | €610,000 | -€60,000 | -9.0% |
| Amounts payable within one year | 42/48 | €632,672 | €584,257 | -€48,415 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €307,830 | €312,828 | +€4,999 | +1.6% |
| Suppliers | 440/4 | €307,830 | €312,828 | +€4,999 | +1.6% |
| Taxes, remuneration and social security | 45 | €16,562 | €20,113 | +€3,551 | +21.4% |
| Taxes | 450/3 | €26 | €2 | -€24 | -91.2% |
| Remuneration and social security | 454/9 | €16,535 | €20,111 | +€3,575 | +21.6% |
| Other amounts payable | 47/48 | €248,281 | €41,316 | -€206,965 | -83.4% |
| Accrued charges and deferred income | 492/3 | €788 | €2,328 | +€1,540 | +195% |
| Remuneration, social security and pensions | 62 | €138,854 | €157,389 | +€18,535 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,321 | €53,091 | +€770 | +1.5% |
| Other operating charges | 640/8 | €3,392 | €3,465 | +€73 | +2.2% |
| Gross operating margin | 9900 | €243,144 | €234,980 | -€8,164 | -3.4% |
| Operating profit (loss) | 9901 | €48,576 | €21,034 | -€27,542 | -56.7% |
| Financial income | 75/76B | €367 | €1,021 | +€654 | +178% |
| Recurring financial income | 75 | €367 | €1,021 | +€654 | +178% |
| Financial charges | 65/66B | €14,739 | €16,132 | +€1,393 | +9.4% |
| Recurring financial charges | 65 | €14,739 | €16,132 | +€1,393 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €34,204 | €5,923 | -€28,281 | -82.7% |
| Income taxes | 67/77 | €3,913 | €1,887 | -€2,025 | -51.8% |
| Profit (loss) for the period | 9904 | €30,291 | €4,035 | -€26,256 | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,291 | €4,035 | -€26,256 | -86.7% |
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 31 October 2026 via checked.be.