IBTI 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.
IBTI PHARMA
Largest movements
- Tangible fixed assets -€31,956
down €31,956 (-4.9%), from €656,786 to €624,831
of which Land and buildings: -€29,059
- Cash +€11,481
up €11,481 (+70.5%), from €16,276 to €27,757
mainly Depreciation (+€31,956) and Net result for the year (+€28,266)
- Reserves +€30,000
up €30,000 (+10.7%), from €280,000 to €310,000
- Debts after one year -€25,383
down €25,383 (-7.8%), from €324,822 to €299,439
- Trade debts -€19,804
down €19,804 (-97.5%), from €20,312 to €508
- Gross operating margin +€30,113
up €30,113 (+60.6%), from €49,719 to €79,831
- Depreciation +€18,598
up €18,598 (+139.2%), from €13,358 to €31,956
- Taxes +€7,304
up €7,304 (+881.8%), from €828 to €8,132
- Other operating charges -€6,599
down €6,599 (-92.6%), from €7,125 to €526
- Financial charges +€5,309
up €5,309 (+94.1%), from €5,642 to €10,951
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 | €676,458 | €660,797 | -€15,661 | -2.3% |
| Fixed assets | 21/28 | €656,786 | €624,831 | -€31,956 | -4.9% |
| Tangible fixed assets | 22/27 | €656,786 | €624,831 | -€31,956 | -4.9% |
| Land and buildings | 22 | €629,027 | €599,969 | -€29,059 | -4.6% |
| Plant, machinery and equipment | 23 | €3,804 | €3,407 | -€397 | -10.4% |
| Furniture and vehicles | 24 | €23,955 | €21,455 | -€2,500 | -10.4% |
| Current assets | 29/58 | €19,672 | €35,967 | +€16,295 | +82.8% |
| Amounts receivable within one year | 40/41 | €3,195 | €8,210 | +€5,014 | +156.9% |
| Trade receivables | 40 | €2,904 | €8,210 | +€5,306 | +182.7% |
| Other amounts receivable | 41 | €291 | - | -€291 | |
| Cash at bank and in hand | 54/58 | €16,276 | €27,757 | +€11,481 | +70.5% |
| Deferred charges and accrued income | 490/1 | €200 | - | -€200 | |
| Total equity and liabilities | 10/49 | €676,458 | €660,797 | -€15,661 | -2.3% |
| Equity | 10/15 | €287,439 | €315,706 | +€28,266 | +9.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €280,000 | €310,000 | +€30,000 | +10.7% |
| Distributable reserves | 133 | €280,000 | €310,000 | +€30,000 | +10.7% |
| Profit (loss) carried forward | 14 | €7,339 | €5,606 | -€1,734 | -23.6% |
| Amounts payable | 17/49 | €389,018 | €345,092 | -€43,927 | -11.3% |
| Amounts payable after more than one year | 17 | €324,822 | €299,439 | -€25,383 | -7.8% |
| Financial debts | 170/4 | €324,822 | €299,439 | -€25,383 | -7.8% |
| Amounts payable within one year | 42/48 | €64,197 | €45,653 | -€18,544 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €16,765 | €17,360 | +€596 | +3.6% |
| Trade debts | 44 | €20,312 | €508 | -€19,804 | -97.5% |
| Suppliers | 440/4 | €20,312 | €508 | -€19,804 | -97.5% |
| Taxes, remuneration and social security | 45 | €27,121 | €27,784 | +€664 | +2.4% |
| Taxes | 450/3 | €27,121 | €27,784 | +€664 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,358 | €31,956 | +€18,598 | +139.2% |
| Other operating charges | 640/8 | €7,125 | €526 | -€6,599 | -92.6% |
| Gross operating margin | 9900 | €49,719 | €79,831 | +€30,113 | +60.6% |
| Operating profit (loss) | 9901 | €29,236 | €47,349 | +€18,114 | +62.0% |
| Financial charges | 65/66B | €5,642 | €10,951 | +€5,309 | +94.1% |
| Recurring financial charges | 65 | €5,642 | €10,951 | +€5,309 | +94.1% |
| Profit (loss) for the period before taxes | 9903 | €23,594 | €36,398 | +€12,804 | +54.3% |
| Income taxes | 67/77 | €828 | €8,132 | +€7,304 | +881.8% |
| Profit (loss) for the period | 9904 | €22,766 | €28,266 | +€5,500 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,766 | €28,266 | +€5,500 | +24.2% |
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 10 October 2026 via checked.be.