JOIN 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.
JOIN PHARMA
Largest movements
- Current investments +€60,000
up €60,000 (+29.4%), from €203,797 to €263,797
- Receivables within one year -€21,227
down €21,227 (-40.9%), from €51,938 to €30,711
of which Trade receivables: -€10,819
- Cash +€11,822
up €11,822 (+127%), from €9,293 to €21,115
mainly Net result for the year (+€41,311) and Receivables within one year (+€21,227)
- Reserves +€41,311
up €41,311 (+18.4%), from €224,786 to €266,096
of which Distributable reserves: +€41,311
- Trade debts +€12,174
up €12,174 (+232%), from €5,251 to €17,425
- Financial income +€9,793
up €9,793 (+48.0%), from €20,403 to €30,196
- Gross operating margin +€6,381
up €6,381 (+42.3%), from €15,075 to €21,456
- Taxes +€2,375
up €2,375 (+39.1%), from €6,077 to €8,452
- Other operating charges +€998
up €998, from €0 to €998
- Financial charges -€235
down €235 (-24.0%), from €981 to €746
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 | €1,115,838 | €1,168,385 | +€52,546 | +4.7% |
| Fixed assets | 21/28 | €850,000 | €851,942 | +€1,942 | +0.2% |
| Tangible fixed assets | 22/27 | - | €1,942 | +€1,942 | |
| Plant, machinery and equipment | 23 | - | €1,942 | +€1,942 | |
| Financial fixed assets | 28 | €850,000 | €850,000 | = | 0.0% |
| Current assets | 29/58 | €265,838 | €316,443 | +€50,604 | +19.0% |
| Amounts receivable within one year | 40/41 | €51,938 | €30,711 | -€21,227 | -40.9% |
| Trade receivables | 40 | €10,819 | €0 | -€10,819 | -100% |
| Other amounts receivable | 41 | €41,120 | €30,711 | -€10,409 | -25.3% |
| Current investments | 50/53 | €203,797 | €263,797 | +€60,000 | +29.4% |
| Cash at bank and in hand | 54/58 | €9,293 | €21,115 | +€11,822 | +127% |
| Deferred charges and accrued income | 490/1 | €809 | €819 | +€10 | +1.2% |
| Total equity and liabilities | 10/49 | €1,115,838 | €1,168,385 | +€52,546 | +4.7% |
| Equity | 10/15 | €527,821 | €569,132 | +€41,311 | +7.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €224,786 | €266,096 | +€41,311 | +18.4% |
| Tax-exempt reserves | 132 | €4,930 | €4,930 | = | 0.0% |
| Distributable reserves | 133 | €219,855 | €261,166 | +€41,311 | +18.8% |
| Profit (loss) carried forward | 14 | €296,836 | €296,836 | = | 0.0% |
| Amounts payable | 17/49 | €588,017 | €599,253 | +€11,236 | +1.9% |
| Amounts payable within one year | 42/48 | €587,567 | €598,953 | +€11,386 | +1.9% |
| Trade debts | 44 | €5,251 | €17,425 | +€12,174 | +232% |
| Suppliers | 440/4 | €5,251 | €17,425 | +€12,174 | +232% |
| Taxes, remuneration and social security | 45 | €2,741 | €8,540 | +€5,799 | +212% |
| Taxes | 450/3 | €0 | €5,783 | +€5,783 | |
| Remuneration and social security | 454/9 | €2,741 | €2,757 | +€16 | +0.6% |
| Other amounts payable | 47/48 | €579,575 | €572,988 | -€6,587 | -1.1% |
| Accrued charges and deferred income | 492/3 | €450 | €300 | -€150 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €145 | +€145 | |
| Other operating charges | 640/8 | €0 | €998 | +€998 | |
| Gross operating margin | 9900 | €15,075 | €21,456 | +€6,381 | +42.3% |
| Operating profit (loss) | 9901 | €15,075 | €20,313 | +€5,237 | +34.7% |
| Financial income | 75/76B | €20,403 | €30,196 | +€9,793 | +48.0% |
| Recurring financial income | 75 | €20,403 | €30,196 | +€9,793 | +48.0% |
| Financial charges | 65/66B | €981 | €746 | -€235 | -24.0% |
| Recurring financial charges | 65 | €981 | €746 | -€235 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €34,498 | €49,763 | +€15,265 | +44.2% |
| Income taxes | 67/77 | €6,077 | €8,452 | +€2,375 | +39.1% |
| Profit (loss) for the period | 9904 | €28,420 | €41,311 | +€12,890 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,420 | €41,311 | +€12,890 | +45.4% |
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 24 October 2026 via checked.be.