Kerckaert 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.
Kerckaert Pharma
Largest movements
- Cash +€52,111
up €52,111 (+147%), from €35,496 to €87,607
mainly Net result for the year (+€134,064) and Other debts (+€66,984)
- Stocks and contracts +€9,566
up €9,566 (+7.0%), from €136,071 to €145,637
- Receivables within one year -€4,926
down €4,926 (-6.1%), from €80,974 to €76,048
of which Trade receivables: -€4,392
- Other debts +€66,984
up €66,984 (+72.7%), from €92,116 to €159,100
- Current portion of long-term debt -€24,300
down €24,300 (-75.0%), from €32,400 to €8,100
- Reserves +€15,884
up €15,884 (+586%), from €2,709 to €18,594
- Trade debts +€10,843
up €10,843 (+8.5%), from €127,035 to €137,878
- Debts after one year -€8,100
down €8,100 (-100%), from €8,100 to €0
- Gross operating margin +€12,934
up €12,934 (+7.2%), from €178,957 to €191,890
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 | €295,612 | €350,343 | +€54,731 | +18.5% |
| Formation expenses | 20 | €6,686 | €3,343 | -€3,343 | -50.0% |
| Fixed assets | 21/28 | €33,697 | €31,898 | -€1,799 | -5.3% |
| Tangible fixed assets | 22/27 | €27,039 | €25,240 | -€1,799 | -6.7% |
| Plant, machinery and equipment | 23 | €4,519 | €3,141 | -€1,379 | -30.5% |
| Furniture and vehicles | 24 | €0 | €2,811 | +€2,811 | |
| Other tangible fixed assets | 26 | €22,519 | €19,288 | -€3,231 | -14.3% |
| Financial fixed assets | 28 | €6,658 | €6,658 | = | 0.0% |
| Current assets | 29/58 | €255,230 | €315,102 | +€59,872 | +23.5% |
| Stocks and contracts in progress | 3 | €136,071 | €145,637 | +€9,566 | +7.0% |
| Stocks | 30/36 | €136,071 | €145,637 | +€9,566 | +7.0% |
| Amounts receivable within one year | 40/41 | €80,974 | €76,048 | -€4,926 | -6.1% |
| Trade receivables | 40 | €79,871 | €75,479 | -€4,392 | -5.5% |
| Other amounts receivable | 41 | €1,104 | €569 | -€535 | -48.4% |
| Cash at bank and in hand | 54/58 | €35,496 | €87,607 | +€52,111 | +147% |
| Deferred charges and accrued income | 490/1 | €2,689 | €5,811 | +€3,122 | +116% |
| Total equity and liabilities | 10/49 | €295,612 | €350,343 | +€54,731 | +18.5% |
| Equity | 10/15 | €28,080 | €37,144 | +€9,064 | +32.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,709 | €18,594 | +€15,884 | +586% |
| Distributable reserves | 133 | €2,709 | €18,594 | +€15,884 | +586% |
| Profit (loss) carried forward | 14 | €6,820 | €0 | -€6,820 | -100% |
| Amounts payable | 17/49 | €267,533 | €313,200 | +€45,667 | +17.1% |
| Amounts payable after more than one year | 17 | €8,100 | €0 | -€8,100 | -100% |
| Other amounts payable | 178/9 | €8,100 | €0 | -€8,100 | -100% |
| Amounts payable within one year | 42/48 | €259,227 | €312,798 | +€53,571 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €32,400 | €8,100 | -€24,300 | -75.0% |
| Trade debts | 44 | €127,035 | €137,878 | +€10,843 | +8.5% |
| Suppliers | 440/4 | €127,035 | €137,878 | +€10,843 | +8.5% |
| Taxes, remuneration and social security | 45 | €7,676 | €7,720 | +€44 | +0.6% |
| Taxes | 450/3 | €2,070 | €1,946 | -€124 | -6.0% |
| Remuneration and social security | 454/9 | €5,607 | €5,774 | +€167 | +3.0% |
| Other amounts payable | 47/48 | €92,116 | €159,100 | +€66,984 | +72.7% |
| Accrued charges and deferred income | 492/3 | €205 | €402 | +€196 | +95.6% |
| Remuneration, social security and pensions | 62 | €43,448 | €43,299 | -€149 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,461 | €8,621 | +€159 | +1.9% |
| Other operating charges | 640/8 | €419 | €999 | +€580 | +139% |
| Gross operating margin | 9900 | €178,957 | €191,890 | +€12,934 | +7.2% |
| Operating profit (loss) | 9901 | €126,628 | €138,972 | +€12,344 | +9.7% |
| Financial income | 75/76B | €138 | €509 | +€372 | +270% |
| Recurring financial income | 75 | €138 | €509 | +€372 | +270% |
| Financial charges | 65/66B | €1,013 | €1,435 | +€422 | +41.7% |
| Recurring financial charges | 65 | €1,013 | €1,435 | +€422 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €125,753 | €138,046 | +€12,293 | +9.8% |
| Income taxes | 67/77 | €5,070 | €3,982 | -€1,087 | -21.5% |
| Profit (loss) for the period | 9904 | €120,683 | €134,064 | +€13,381 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €120,683 | €134,064 | +€13,381 | +11.1% |
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 17 October 2026 via checked.be.