G.L.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.
G.L.PHARMA
Largest movements
- Current investments +€150,000
up €150,000 (+1,442%), from €10,400 to €160,400
- Cash -€141,537
down €141,537 (-43.6%), from €324,709 to €183,172
mainly Current investments (-€150,000) and Other debts (-€100,114)
- Stocks and contracts +€37,037
up €37,037 (+11.2%), from €332,045 to €369,083
- Receivables within one year -€20,286
down €20,286 (-12.3%), from €164,799 to €144,513
of which Trade receivables: -€15,505
- Deferred charges and accrued income +€15,375
up €15,375 (+1,383%), from €1,111 to €16,486
- Reserves +€135,000
up €135,000 (+354%), from €38,186 to €173,186
of which Distributable reserves: +€135,000
- Other debts -€100,114
down €100,114 (-35.7%), from €280,576 to €180,462
- Gross operating margin +€23,276
up €23,276 (+4.1%), from €568,714 to €591,990
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 | €842,536 | €880,117 | +€37,582 | +4.5% |
| Fixed assets | 21/28 | €9,471 | €6,463 | -€3,008 | -31.8% |
| Tangible fixed assets | 22/27 | €9,471 | €6,463 | -€3,008 | -31.8% |
| Plant, machinery and equipment | 23 | €7,364 | €6,275 | -€1,089 | -14.8% |
| Furniture and vehicles | 24 | - | €188 | +€188 | |
| Other tangible fixed assets | 26 | €2,106 | €0 | -€2,106 | -100% |
| Current assets | 29/58 | €833,065 | €873,654 | +€40,589 | +4.9% |
| Stocks and contracts in progress | 3 | €332,045 | €369,083 | +€37,037 | +11.2% |
| Stocks | 30/36 | €332,045 | €369,083 | +€37,037 | +11.2% |
| Amounts receivable within one year | 40/41 | €164,799 | €144,513 | -€20,286 | -12.3% |
| Trade receivables | 40 | €159,860 | €144,355 | -€15,505 | -9.7% |
| Other amounts receivable | 41 | €4,939 | €158 | -€4,781 | -96.8% |
| Current investments | 50/53 | €10,400 | €160,400 | +€150,000 | +1,442% |
| Cash at bank and in hand | 54/58 | €324,709 | €183,172 | -€141,537 | -43.6% |
| Deferred charges and accrued income | 490/1 | €1,111 | €16,486 | +€15,375 | +1,383% |
| Total equity and liabilities | 10/49 | €842,536 | €880,117 | +€37,582 | +4.5% |
| Equity | 10/15 | €411,657 | €544,623 | +€132,966 | +32.3% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Capital | 10 | €370,000 | €370,000 | = | 0.0% |
| Issued capital | 100 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €38,186 | €173,186 | +€135,000 | +354% |
| Non-distributable reserves | 130/1 | €37,000 | €37,000 | = | 0.0% |
| Legal reserve | 130 | €37,000 | €37,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,186 | €1,186 | = | 0.0% |
| Distributable reserves | 133 | - | €135,000 | +€135,000 | |
| Profit (loss) carried forward | 14 | €3,471 | €1,437 | -€2,034 | -58.6% |
| Amounts payable | 17/49 | €430,879 | €335,494 | -€95,385 | -22.1% |
| Amounts payable within one year | 42/48 | €430,191 | €334,806 | -€95,385 | -22.2% |
| Trade debts | 44 | €86,606 | €83,754 | -€2,853 | -3.3% |
| Suppliers | 440/4 | €86,606 | €83,754 | -€2,853 | -3.3% |
| Taxes, remuneration and social security | 45 | €63,009 | €70,591 | +€7,582 | +12.0% |
| Taxes | 450/3 | €15,123 | €19,462 | +€4,339 | +28.7% |
| Remuneration and social security | 454/9 | €47,887 | €51,129 | +€3,243 | +6.8% |
| Other amounts payable | 47/48 | €280,576 | €180,462 | -€100,114 | -35.7% |
| Accrued charges and deferred income | 492/3 | €688 | €688 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €315,045 | €316,633 | +€1,588 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,449 | €6,696 | -€5,753 | -46.2% |
| Other operating charges | 640/8 | €415 | €1,479 | +€1,063 | +256% |
| Gross operating margin | 9900 | €568,714 | €591,990 | +€23,276 | +4.1% |
| Operating profit (loss) | 9901 | €240,804 | €267,182 | +€26,378 | +11.0% |
| Financial income | 75/76B | €596 | €5,005 | +€4,409 | +740% |
| Recurring financial income | 75 | €596 | €5,005 | +€4,409 | +740% |
| Financial charges | 65/66B | €3,517 | €7,245 | +€3,728 | +106% |
| Recurring financial charges | 65 | €3,517 | €7,245 | +€3,728 | +106% |
| Profit (loss) for the period before taxes | 9903 | €237,883 | €264,942 | +€27,059 | +11.4% |
| Income taxes | 67/77 | €46,493 | €46,975 | +€482 | +1.0% |
| Profit (loss) for the period | 9904 | €191,390 | €217,966 | +€26,577 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €191,390 | €217,966 | +€26,577 | +13.9% |
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 18 October 2026 via checked.be.