Global Pharma: what changed
Two fiscal 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.
Global Pharma
Largest movements
- Receivables within one year +€148,134
up €148,134 (+192.7%), from €76,874 to €225,008
of which Other amounts receivable: +€104,449
- Cash -€45,186
down €45,186 (-67.9%), from €66,520 to €21,333
mainly Receivables within one year (-€148,134) and Investment in fixed assets (net) (-€23,350)
- Tangible fixed assets +€21,917
up €21,917 (+11314.6%), from €194 to €22,111
of which Plant, machinery and equipment: +€13,668
- Stocks and contracts +€12,713
up €12,713 (+10.4%), from €122,211 to €134,923
- Reserves +€67,338
new in 2025: €67,338
- Short-term financial debts +€50,000
new in 2025: €50,000
- Profit (loss) carried forward -€42,267
down €42,267 (-100.0%), from €42,267 to €0
- Accrued charges and deferred income +€27,641
up €27,641, from €0 to €27,641
- Other debts +€18,774
up €18,774 (+24.1%), from €77,953 to €96,727
- Gross operating margin +€29,708
up €29,708 (+23.6%), from €126,111 to €155,819
- Taxes +€7,212
up €7,212 (+83.6%), from €8,631 to €15,843
- Staff costs +€4,475
up €4,475 (+4.9%), from €91,925 to €96,400
- Financial charges +€1,891
up €1,891 (+50.5%), from €3,743 to €5,634
of which Financial charges: +€1,054
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.
Cash bridge derived
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 | €267,095 | €403,675 | +€136,580 | +51.1% |
| Fixed assets | 21/28 | €194 | €22,111 | +€21,917 | +11314.6% |
| Tangible fixed assets | 22/27 | €194 | €22,111 | +€21,917 | +11314.6% |
| Plant, machinery and equipment | 23 | - | €13,668 | +€13,668 | |
| Furniture and vehicles | 24 | €194 | €138 | -€56 | -29.0% |
| Other tangible fixed assets | 26 | - | €8,306 | +€8,306 | |
| Current assets | 29/58 | €266,902 | €381,564 | +€114,662 | +43.0% |
| Stocks and contracts in progress | 3 | €122,211 | €134,923 | +€12,713 | +10.4% |
| Stocks | 30/36 | €122,211 | €134,923 | +€12,713 | +10.4% |
| Amounts receivable within one year | 40/41 | €76,874 | €225,008 | +€148,134 | +192.7% |
| Trade receivables | 40 | €76,874 | €120,560 | +€43,686 | +56.8% |
| Other amounts receivable | 41 | €0 | €104,449 | +€104,449 | |
| Cash at bank and in hand | 54/58 | €66,520 | €21,333 | -€45,186 | -67.9% |
| Deferred charges and accrued income | 490/1 | €1,297 | €299 | -€998 | -77.0% |
| Total equity and liabilities | 10/49 | €267,095 | €403,675 | +€136,580 | +51.1% |
| Equity | 10/15 | €96,492 | €121,563 | +€25,072 | +26.0% |
| Contributions | 10/11 | €54,225 | €54,225 | = | 0.0% |
| Reserves | 13 | - | €67,338 | +€67,338 | |
| Distributable reserves | 133 | - | €67,338 | +€67,338 | |
| Profit (loss) carried forward | 14 | €42,267 | €0 | -€42,267 | -100.0% |
| Amounts payable | 17/49 | €170,604 | €282,112 | +€111,508 | +65.4% |
| Amounts payable within one year | 42/48 | €170,604 | €254,471 | +€83,867 | +49.2% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €60,790 | €64,984 | +€4,194 | +6.9% |
| Suppliers | 440/4 | €60,790 | €64,984 | +€4,194 | +6.9% |
| Taxes, remuneration and social security | 45 | €31,860 | €42,760 | +€10,900 | +34.2% |
| Taxes | 450/3 | €16,400 | €29,764 | +€13,364 | +81.5% |
| Remuneration and social security | 454/9 | €15,460 | €12,996 | -€2,464 | -15.9% |
| Other amounts payable | 47/48 | €77,953 | €96,727 | +€18,774 | +24.1% |
| Accrued charges and deferred income | 492/3 | €0 | €27,641 | +€27,641 | |
| Non-recurring operating income | 76A | - | €3,535 | +€3,535 | |
| Remuneration, social security and pensions | 62 | €91,925 | €96,400 | +€4,475 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56 | €1,433 | +€1,376 | +2452.7% |
| Other operating charges | 640/8 | €1,153 | €1,438 | +€285 | +24.7% |
| Gross operating margin | 9900 | €126,111 | €155,819 | +€29,708 | +23.6% |
| Operating profit (loss) | 9901 | €32,977 | €56,549 | +€23,572 | +71.5% |
| Financial income | 75/76B | €16 | €0 | -€16 | -99.9% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.9% |
| Financial charges | 65/66B | €3,743 | €5,634 | +€1,891 | +50.5% |
| Recurring financial charges | 65 | €3,743 | €4,797 | +€1,054 | +28.2% |
| Non-recurring financial charges | 66B | - | €837 | +€837 | |
| Profit (loss) for the period before taxes | 9903 | €29,251 | €50,915 | +€21,664 | +74.1% |
| Income taxes | 67/77 | €8,631 | €15,843 | +€7,212 | +83.6% |
| Profit (loss) for the period | 9904 | €20,620 | €35,072 | +€14,452 | +70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,620 | €35,072 | +€14,452 | +70.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.