GALENUS APOTHEKEN: what changed
What changed
GALENUS APOTHEKEN
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€176,144
2024 · €18,608-€194,752
Equity
€456,884
2024 · €633,028-€176,144
Cash
€41,162
2024 · €31,220+€9,942
Balance sheet total
€579,341
2024 · €1.6m-€1.0m
Largest movements
Assets
- Financial fixed assets -€1.6m
no longer reported in 2025 (was €1.6m)
- Tangible fixed assets +€489,946
up €489,946 (+18,781%), from €2,609 to €492,554
of which Land and buildings: +€483,482
Equity and liabilities
- Debts after one year -€482,346
no longer reported in 2025 (was €482,346)
- Other debts -€289,580
down €289,580 (-76.7%), from €377,362 to €87,782
- Profit (loss) carried forward -€176,144
down €176,144, from €435 to -€175,709
- Current portion of long-term debt -€97,477
no longer reported in 2025 (was €97,477)
- Trade debts +€19,369
up €19,369 (+417%), from €4,641 to €24,009
Income statement
- Financial income +€365,488
up €365,488 (+8,384%), from €4,359 to €369,847
- Gross operating margin -€51,684
down €51,684 (-74.5%), from €69,374 to €17,689
- Depreciation +€30,121
up €30,121 (+3,376%), from €892 to €31,013
- Taxes -€7,559
down €7,559 (-95.3%), from €7,929 to €370
- Financial charges -€2,921
down €2,921 (-17.4%), from €16,768 to €13,846
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
€18,608
Gross operating margin
-€51,684
Staff costs
+€2,449
Depreciation
-€30,121
Other operating charges
-€220
Other operating items
-€491,144
Financial income
+€365,488
Financial charges
+€2,921
Taxes
+€7,559
Result 2025
-€176,144
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
-€435,296
Investment
+€1.0m
Financing
-€585,737
Cash 2024
€31,220
From operations (derived)
-€435,296
Net result for the year
-€176,144
Depreciation
+€31,013
Receivables within one year
-€14,138
Deferred charges and accrued income
+€2,235
Trade debts
+€19,369
Tax, wage and social debts
-€3,984
Other debts
-€289,580
Accrued charges and deferred income
-€4,067
Investment (derived)
+€1.0m
Investment in fixed assets (net)
+€1.0m
Financing
-€585,737
Debts after one year
-€482,346
Current portion of long-term debt
-€97,477
Short-term financial debts
-€5,915
Cash 2025
€41,162
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,619,483 | €579,341 | -€1.0m | -64.2% |
| Fixed assets | 21/28 | €1,554,542 | €492,554 | -€1.1m | -68.3% |
| Tangible fixed assets | 22/27 | €2,609 | €492,554 | +€489,946 | +18,781% |
| Land and buildings | 22 | - | €483,482 | +€483,482 | |
| Plant, machinery and equipment | 23 | €2,609 | €2,707 | +€98 | +3.8% |
| Furniture and vehicles | 24 | - | €6,366 | +€6,366 | |
| Financial fixed assets | 28 | €1,551,934 | - | -€1.6m | |
| Current assets | 29/58 | €64,941 | €86,786 | +€21,845 | +33.6% |
| Amounts receivable within one year | 40/41 | €12,703 | €26,842 | +€14,138 | +111% |
| Trade receivables | 40 | €2,475 | €17,342 | +€14,867 | +601% |
| Other amounts receivable | 41 | €10,228 | €9,500 | -€728 | -7.1% |
| Cash at bank and in hand | 54/58 | €31,220 | €41,162 | +€9,942 | +31.8% |
| Deferred charges and accrued income | 490/1 | €21,017 | €18,782 | -€2,235 | -10.6% |
| Total equity and liabilities | 10/49 | €1,619,483 | €579,341 | -€1.0m | -64.2% |
| Equity | 10/15 | €633,028 | €456,884 | -€176,144 | -27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €613,994 | €613,994 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,468 | €1,860 | -€18,608 | -90.9% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Financial assistance | 1313 | €18,608 | - | -€18,608 | |
| Distributable reserves | 133 | €593,526 | €612,134 | +€18,608 | +3.1% |
| Profit (loss) carried forward | 14 | €435 | -€175,709 | -€176,144 | |
| Amounts payable | 17/49 | €986,455 | €122,456 | -€863,999 | -87.6% |
| Amounts payable after more than one year | 17 | €482,346 | - | -€482,346 | |
| Financial debts | 170/4 | €482,346 | - | -€482,346 | |
| Amounts payable within one year | 42/48 | €500,043 | €122,456 | -€377,587 | -75.5% |
| Current portion of amounts payable after more than one year | 42 | €97,477 | - | -€97,477 | |
| Financial debts | 43 | €5,915 | - | -€5,915 | |
| Credit institutions | 430/8 | €5,915 | - | -€5,915 | |
| Trade debts | 44 | €4,641 | €24,009 | +€19,369 | +417% |
| Suppliers | 440/4 | €4,641 | €24,009 | +€19,369 | +417% |
| Taxes, remuneration and social security | 45 | €14,649 | €10,665 | -€3,984 | -27.2% |
| Taxes | 450/3 | €12,033 | €5,070 | -€6,963 | -57.9% |
| Remuneration and social security | 454/9 | €2,616 | €5,595 | +€2,979 | +114% |
| Other amounts payable | 47/48 | €377,362 | €87,782 | -€289,580 | -76.7% |
| Accrued charges and deferred income | 492/3 | €4,067 | - | -€4,067 | |
| Remuneration, social security and pensions | 62 | €28,059 | €25,611 | -€2,449 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €892 | €31,013 | +€30,121 | +3,376% |
| Other operating charges | 640/8 | €1,476 | €1,697 | +€220 | +14.9% |
| Non-recurring operating charges | 66A | - | €491,144 | +€491,144 | |
| Gross operating margin | 9900 | €69,374 | €17,689 | -€51,684 | -74.5% |
| Operating profit (loss) | 9901 | €38,946 | -€531,775 | -€570,720 | |
| Financial income | 75/76B | €4,359 | €369,847 | +€365,488 | +8,384% |
| Recurring financial income | 75 | €4,359 | €369,847 | +€365,488 | +8,384% |
| Financial charges | 65/66B | €16,768 | €13,846 | -€2,921 | -17.4% |
| Recurring financial charges | 65 | €16,768 | €13,846 | -€2,921 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €26,537 | -€175,774 | -€202,311 | |
| Income taxes | 67/77 | €7,929 | €370 | -€7,559 | -95.3% |
| Profit (loss) for the period | 9904 | €18,608 | -€176,144 | -€194,752 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,608 | -€176,144 | -€194,752 |
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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 4 November 2026 via checked.be.