FEBELCO: what changed
What changed
FEBELCO
NACE 46.460, Wholesale of pharmaceutical and medical goods
filed annual accounts (NBB)
Net result for the year
€4.4m
2024 · €4.2m+€236,096
Equity
€103.6m
2024 · €116.1m-€12.5m
Cash
€226,339
2024 · €296,732-€70,394
Balance sheet total
€381.9m
2024 · €368.0m+€13.9m
Largest movements
Assets
- Receivables within one year +€14.9m
up €14.9m (+10.9%), from €136.6m to €151.5m
of which Trade receivables: +€15.7m
- Financial fixed assets -€13.4m
down €13.4m (-22.5%), from €59.4m to €46.1m
of which Affiliated companies: -€13.4m
- Stocks and contracts +€13.2m
up €13.2m (+11.5%), from €114.6m to €127.9m
Equity and liabilities
- Short-term financial debts +€15.5m
up €15.5m (+54.4%), from €28.5m to €44.1m
- Trade debts +€7.9m
up €7.9m (+5.3%), from €148.7m to €156.6m
- Reserves -€7.6m
down €7.6m (-18.0%), from €42.1m to €34.5m
of which Distributable reserves: -€7.3m
- Contributions -€5.0m
down €5.0m (-6.7%), from €73.9m to €69.0m
Income statement
- Turnover +€72.0m
up €72.0m (+4.2%), from €1.72bn to €1.79bn
- Goods and materials +€69.1m
up €69.1m (+4.3%), from €1.61bn to €1.68bn
of which Purchases: +€79.3m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4.2m
Turnover
+€72.0m
Other operating income
+€1.8m
Goods and materials
-€69.1m
Services and other goods
-€2.0m
Staff costs
-€3.1m
Depreciation
-€361,023
Write-downs
-€665,290
Provisions
-€115,611
Other operating charges
-€264,211
Other operating items
+€1.6m
Financial income
-€1.2m
Financial charges
+€1.7m
Taxes
-€72,755
Result 2025
€4.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€9.4m
Investment
+€6.8m
Financing
+€2.5m
Cash 2024
€296,732
From operations (derived)
-€9.4m
Net result for the year
+€4.4m
Depreciation
+€7.4m
Receivables after one year
+€837,216
Stocks and contracts
-€13.2m
Receivables within one year
-€14.9m
Deferred charges and accrued income
-€830,124
Provisions
+€120,106
Trade debts
+€7.9m
Tax, wage and social debts
+€2.0m
Other debts
-€2.5m
Accrued charges and deferred income
-€625,028
Investment (derived)
+€6.8m
Investment in fixed assets (net)
+€6.8m
Financing
+€2.5m
Debts after one year
+€2.3m
Current portion of long-term debt
+€1.6m
Short-term financial debts
+€15.5m
Contributions, distributions and other
-€16.9m
Cash 2025
€226,339
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €368,002,251 | €381,864,666 | +€13.9m | +3.8% |
| Fixed assets | 21/28 | €111,056,059 | €96,860,959 | -€14.2m | -12.8% |
| Intangible fixed assets | 21 | €6,749,080 | €7,008,482 | +€259,403 | +3.8% |
| Tangible fixed assets | 22/27 | €44,887,219 | €43,787,880 | -€1.1m | -2.4% |
| Land and buildings | 22 | €37,857,303 | €36,059,515 | -€1.8m | -4.7% |
| Plant, machinery and equipment | 23 | €5,702,151 | €5,975,145 | +€272,994 | +4.8% |
| Furniture and vehicles | 24 | €1,327,765 | €1,753,220 | +€425,455 | +32.0% |
| Financial fixed assets | 28 | €59,419,761 | €46,064,597 | -€13.4m | -22.5% |
| Affiliated companies | 280/1 | €59,317,341 | €45,962,177 | -€13.4m | -22.5% |
| Participating interests | 280 | €29,506,675 | €29,506,675 | = | 0.0% |
| Amounts receivable | 281 | €29,810,666 | €16,455,503 | -€13.4m | -44.8% |
| Companies linked by participating interests | 282/3 | €102,420 | €102,420 | = | 0.0% |
| Participating interests | 282 | €102,420 | €102,420 | = | 0.0% |
| Current assets | 29/58 | €256,946,193 | €285,003,706 | +€28.1m | +10.9% |
| Amounts receivable after more than one year | 29 | €1,714,631 | €877,415 | -€837,216 | -48.8% |
| Trade receivables | 290 | €1,714,631 | €877,415 | -€837,216 | -48.8% |
| Stocks and contracts in progress | 3 | €114,636,057 | €127,856,933 | +€13.2m | +11.5% |
| Stocks | 30/36 | €114,636,057 | €127,856,933 | +€13.2m | +11.5% |
| Goods purchased for resale | 34 | €114,636,057 | €127,856,933 | +€13.2m | +11.5% |
| Amounts receivable within one year | 40/41 | €136,599,509 | €151,513,632 | +€14.9m | +10.9% |
| Trade receivables | 40 | €120,230,178 | €135,940,610 | +€15.7m | +13.1% |
| Other amounts receivable | 41 | €16,369,330 | €15,573,022 | -€796,309 | -4.9% |
| Current investments | 50/53 | €67,050 | €67,050 | = | 0.0% |
| Other investments | 51/53 | €67,050 | €67,050 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €296,732 | €226,339 | -€70,394 | -23.7% |
| Deferred charges and accrued income | 490/1 | €3,632,214 | €4,462,338 | +€830,124 | +22.9% |
| Total equity and liabilities | 10/49 | €368,002,251 | €381,864,666 | +€13.9m | +3.8% |
| Equity | 10/15 | €116,111,614 | €103,583,646 | -€12.5m | -10.8% |
| Contributions | 10/11 | €73,944,642 | €68,990,865 | -€5.0m | -6.7% |
| Reserves | 13 | €42,105,962 | €34,538,470 | -€7.6m | -18.0% |
| Tax-exempt reserves | 132 | €1,482,100 | €1,252,667 | -€229,433 | -15.5% |
| Distributable reserves | 133 | €40,623,862 | €33,285,802 | -€7.3m | -18.1% |
| Investment grants | 15 | €61,010 | €54,311 | -€6,699 | -11.0% |
| Provisions and deferred taxes | 16 | €4,790,601 | €4,910,707 | +€120,106 | +2.5% |
| Provisions for liabilities and charges | 160/5 | €4,301,191 | €4,496,347 | +€195,156 | +4.5% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €4,301,191 | €4,496,347 | +€195,156 | +4.5% |
| Deferred taxes | 168 | €489,410 | €414,360 | -€75,050 | -15.3% |
| Amounts payable | 17/49 | €247,100,036 | €273,370,312 | +€26.3m | +10.6% |
| Amounts payable after more than one year | 17 | €27,618,134 | €29,946,868 | +€2.3m | +8.4% |
| Financial debts | 170/4 | €27,618,134 | €29,946,868 | +€2.3m | +8.4% |
| Credit institutions | 173 | €27,618,134 | €29,946,868 | +€2.3m | +8.4% |
| Amounts payable within one year | 42/48 | €214,407,135 | €238,973,705 | +€24.6m | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €2,381,866 | €4,015,993 | +€1.6m | +68.6% |
| Financial debts | 43 | €28,536,737 | €44,056,818 | +€15.5m | +54.4% |
| Credit institutions | 430/8 | €28,536,737 | €44,056,818 | +€15.5m | +54.4% |
| Trade debts | 44 | €148,721,877 | €156,599,006 | +€7.9m | +5.3% |
| Suppliers | 440/4 | €148,721,877 | €156,599,006 | +€7.9m | +5.3% |
| Taxes, remuneration and social security | 45 | €13,684,535 | €15,716,253 | +€2.0m | +14.8% |
| Taxes | 450/3 | €2,870,665 | €5,781,324 | +€2.9m | +101% |
| Remuneration and social security | 454/9 | €10,813,870 | €9,934,929 | -€878,941 | -8.1% |
| Other amounts payable | 47/48 | €21,082,120 | €18,585,635 | -€2.5m | -11.8% |
| Accrued charges and deferred income | 492/3 | €5,074,767 | €4,449,740 | -€625,028 | -12.3% |
| Operating income | 70/76A | €1,723,293,976 | €1,798,713,765 | +€75.4m | +4.4% |
| Turnover | 70 | €1,716,959,829 | €1,788,913,420 | +€72.0m | +4.2% |
| Other operating income | 74 | €6,302,362 | €8,124,248 | +€1.8m | +28.9% |
| Non-recurring operating income | 76A | €31,785 | €1,676,097 | +€1.6m | +5,173% |
| Operating charges | 60/66A | €1,715,417,714 | €1,791,055,184 | +€75.6m | +4.4% |
| Goods for resale, raw materials and consumables | 60 | €1,610,000,100 | €1,679,080,605 | +€69.1m | +4.3% |
| Purchases | 600/8 | €1,613,466,674 | €1,692,796,433 | +€79.3m | +4.9% |
| Change in stocks: decrease (increase) | 609 | -€3,466,574 | -€13,715,828 | -€10.2m | -296% |
| Services and other goods | 61 | €36,089,316 | €38,116,278 | +€2.0m | +5.6% |
| Remuneration, social security and pensions | 62 | €61,830,628 | €64,886,709 | +€3.1m | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,052,579 | €7,413,602 | +€361,023 | +5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€139,725 | €525,564 | +€665,290 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €79,545 | €195,156 | +€115,611 | +145% |
| Other operating charges | 640/8 | €505,271 | €769,482 | +€264,211 | +52.3% |
| Non-recurring operating charges | 66A | - | €67,788 | +€67,788 | |
| Operating profit (loss) | 9901 | €7,876,263 | €7,658,581 | -€217,682 | -2.8% |
| Financial income | 75/76B | €4,180,351 | €3,004,911 | -€1.2m | -28.1% |
| Recurring financial income | 75 | €4,180,351 | €3,004,911 | -€1.2m | -28.1% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €2,932,871 | €1,943,320 | -€989,552 | -33.7% |
| Other financial income | 752/9 | €1,247,480 | €1,061,591 | -€185,889 | -14.9% |
| Financial charges | 65/66B | €5,847,548 | €4,145,576 | -€1.7m | -29.1% |
| Recurring financial charges | 65 | €5,847,548 | €4,145,576 | -€1.7m | -29.1% |
| Debt charges | 650 | €2,574,692 | €1,821,753 | -€752,938 | -29.2% |
| Other financial charges | 652/9 | €3,272,856 | €2,323,822 | -€949,034 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €6,209,065 | €6,517,916 | +€308,851 | +5.0% |
| Transfer from deferred taxes | 780 | €75,050 | €75,050 | = | 0.0% |
| Income taxes | 67/77 | €2,100,000 | €2,172,755 | +€72,755 | +3.5% |
| Taxes | 670/3 | €2,100,000 | €2,199,601 | +€99,601 | +4.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €26,846 | +€26,846 | |
| Profit (loss) for the period | 9904 | €4,184,115 | €4,420,212 | +€236,096 | +5.6% |
| Transfer from tax-exempt reserves | 789 | €233,715 | €229,433 | -€4,282 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,417,831 | €4,649,644 | +€231,814 | +5.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.