Ibo Farma: 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.
Ibo Farma
Largest movements
- Tangible fixed assets +€77,535
up €77,535 (+45.2%), from €171,690 to €249,225
of which Land and buildings: +€79,812
- Cash -€33,079
down €33,079 (-32.7%), from €101,214 to €68,135
mainly Investment in fixed assets (net) (-€91,404) and Debts after one year (-€47,777)
- Reserves +€66,652
up €66,652 (+110%), from €60,448 to €127,100
- Debts after one year -€47,777
down €47,777 (-8.0%), from €600,929 to €553,152
- Tax, wage and social debts +€22,675
up €22,675 (+66.0%), from €34,332 to €57,007
of which Taxes: +€22,673
- Gross operating margin +€9,853
up €9,853 (+8.1%), from €121,121 to €130,974
- Other operating charges +€1,881
up €1,881 (+365%), from €516 to €2,397
- Taxes +€1,852
up €1,852 (+8.3%), from €22,333 to €24,185
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 | €769,268 | €812,963 | +€43,696 | +5.7% |
| Fixed assets | 21/28 | €653,005 | €730,540 | +€77,535 | +11.9% |
| Tangible fixed assets | 22/27 | €171,690 | €249,225 | +€77,535 | +45.2% |
| Land and buildings | 22 | €158,517 | €238,328 | +€79,812 | +50.3% |
| Plant, machinery and equipment | 23 | - | €1,860 | +€1,860 | |
| Furniture and vehicles | 24 | €13,173 | €9,037 | -€4,136 | -31.4% |
| Financial fixed assets | 28 | €481,315 | €481,315 | = | 0.0% |
| Current assets | 29/58 | €116,263 | €82,423 | -€33,840 | -29.1% |
| Amounts receivable within one year | 40/41 | €14,390 | €13,474 | -€917 | -6.4% |
| Trade receivables | 40 | €14,130 | €12,918 | -€1,212 | -8.6% |
| Other amounts receivable | 41 | €260 | €556 | +€295 | +114% |
| Cash at bank and in hand | 54/58 | €101,214 | €68,135 | -€33,079 | -32.7% |
| Deferred charges and accrued income | 490/1 | €658 | €814 | +€156 | +23.7% |
| Total equity and liabilities | 10/49 | €769,268 | €812,963 | +€43,696 | +5.7% |
| Equity | 10/15 | €65,448 | €132,100 | +€66,652 | +102% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €60,448 | €127,100 | +€66,652 | +110% |
| Distributable reserves | 133 | €60,448 | €127,100 | +€66,652 | +110% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €703,820 | €680,863 | -€22,956 | -3.3% |
| Amounts payable after more than one year | 17 | €600,929 | €553,152 | -€47,777 | -8.0% |
| Financial debts | 170/4 | €600,929 | €553,152 | -€47,777 | -8.0% |
| Amounts payable within one year | 42/48 | €97,418 | €121,705 | +€24,287 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €49,000 | €50,866 | +€1,866 | +3.8% |
| Trade debts | 44 | €1,377 | €1,368 | -€10 | -0.7% |
| Suppliers | 440/4 | €1,377 | €1,368 | -€10 | -0.7% |
| Advances received on contracts in progress | 46 | €1,040 | €0 | -€1,040 | -100% |
| Taxes, remuneration and social security | 45 | €34,332 | €57,007 | +€22,675 | +66.0% |
| Taxes | 450/3 | €32,528 | €55,201 | +€22,673 | +69.7% |
| Remuneration and social security | 454/9 | €1,803 | €1,805 | +€2 | +0.1% |
| Other amounts payable | 47/48 | €11,669 | €12,464 | +€795 | +6.8% |
| Accrued charges and deferred income | 492/3 | €5,473 | €6,007 | +€534 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,953 | €13,868 | +€916 | +7.1% |
| Other operating charges | 640/8 | €516 | €2,397 | +€1,881 | +365% |
| Non-recurring operating charges | 66A | €106 | €0 | -€106 | -100% |
| Gross operating margin | 9900 | €121,121 | €130,974 | +€9,853 | +8.1% |
| Operating profit (loss) | 9901 | €107,546 | €114,709 | +€7,163 | +6.7% |
| Financial income | 75/76B | €28 | €670 | +€642 | +2,276% |
| Recurring financial income | 75 | €28 | €670 | +€642 | +2,276% |
| Financial charges | 65/66B | €24,173 | €23,710 | -€463 | -1.9% |
| Recurring financial charges | 65 | €24,173 | €23,710 | -€463 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €83,402 | €91,670 | +€8,268 | +9.9% |
| Income taxes | 67/77 | €22,333 | €24,185 | +€1,852 | +8.3% |
| Profit (loss) for the period | 9904 | €61,069 | €67,485 | +€6,416 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,069 | €67,485 | +€6,416 | +10.5% |
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 15 October 2026 via checked.be.