LIBRAF: 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.
What changed
LIBRAF
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€70,494
2024 · €82,868-€12,373
Equity
€152,528
2024 · €152,434+€94
Cash
€113,935
2024 · €149,161-€35,226
Balance sheet total
€616,697
2024 · €716,466-€99,769
Largest movements
Assets
- Tangible fixed assets -€58,402
down €58,402 (-18.9%), from €309,715 to €251,313
of which Furniture and vehicles: -€30,526
- Cash -€35,226
down €35,226 (-23.6%), from €149,161 to €113,935
mainly Contributions, distributions and other (-€70,400) and Debts after one year (-€51,838)
- Deferred charges and accrued income -€7,851
down €7,851 (-51.4%), from €15,261 to €7,410
Equity and liabilities
- Debts after one year -€51,838
down €51,838 (-19.7%), from €263,261 to €211,423
- Short-term financial debts -€50,000
down €50,000 (-100%), from €50,000 to €0
- Trade debts +€20,825
up €20,825 (+40.4%), from €51,577 to €72,402
- Other debts -€13,183
down €13,183 (-10.4%), from €126,402 to €113,219
Income statement
- Gross operating margin -€14,324
down €14,324 (-6.3%), from €225,723 to €211,398
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.
Result 2024
€82,868
Gross operating margin
-€14,324
Staff costs
-€820
Depreciation
+€1,085
Other operating charges
+€509
Financial income
-€439
Financial charges
+€2,121
Taxes
-€506
Result 2025
€70,494
raises the resultlowers the result
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.
From operations
+€141,748
Investment
-€5,427
Financing
-€171,547
Cash 2024
€149,161
From operations (derived)
+€141,748
Net result for the year
+€70,494
Depreciation
+€63,829
Stocks and contracts
-€538
Receivables within one year
-€1,173
Deferred charges and accrued income
+€7,851
Trade debts
+€20,825
Tax, wage and social debts
-€191
Other debts
-€13,183
Accrued charges and deferred income
-€6,167
Investment (derived)
-€5,427
Investment in fixed assets (net)
-€5,427
Financing
-€171,547
Debts after one year
-€51,838
Current portion of long-term debt
+€690
Short-term financial debts
-€50,000
Contributions, distributions and other
-€70,400
Cash 2025
€113,935
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €716,466 | €616,697 | -€99,769 | -13.9% |
| Fixed assets | 21/28 | €316,621 | €258,219 | -€58,402 | -18.4% |
| Tangible fixed assets | 22/27 | €309,715 | €251,313 | -€58,402 | -18.9% |
| Land and buildings | 22 | €218,748 | €195,940 | -€22,808 | -10.4% |
| Plant, machinery and equipment | 23 | €24,255 | €19,186 | -€5,069 | -20.9% |
| Furniture and vehicles | 24 | €66,713 | €36,187 | -€30,526 | -45.8% |
| Financial fixed assets | 28 | €6,906 | €6,906 | = | 0.0% |
| Current assets | 29/58 | €399,845 | €358,479 | -€41,366 | -10.3% |
| Stocks and contracts in progress | 3 | €150,913 | €151,451 | +€538 | +0.4% |
| Stocks | 30/36 | €150,913 | €151,451 | +€538 | +0.4% |
| Amounts receivable within one year | 40/41 | €84,510 | €85,682 | +€1,173 | +1.4% |
| Trade receivables | 40 | €83,057 | €84,858 | +€1,801 | +2.2% |
| Other amounts receivable | 41 | €1,453 | €825 | -€628 | -43.2% |
| Cash at bank and in hand | 54/58 | €149,161 | €113,935 | -€35,226 | -23.6% |
| Deferred charges and accrued income | 490/1 | €15,261 | €7,410 | -€7,851 | -51.4% |
| Total equity and liabilities | 10/49 | €716,466 | €616,697 | -€99,769 | -13.9% |
| Equity | 10/15 | €152,434 | €152,528 | +€94 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €90,434 | €90,528 | +€94 | +0.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €84,234 | €84,328 | +€94 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €3,966 | €3,966 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,966 | €3,966 | = | 0.0% |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €3,966 | €3,966 | = | 0.0% |
| Amounts payable | 17/49 | €560,066 | €460,203 | -€99,863 | -17.8% |
| Amounts payable after more than one year | 17 | €263,261 | €211,423 | -€51,838 | -19.7% |
| Financial debts | 170/4 | €263,261 | €211,423 | -€51,838 | -19.7% |
| Amounts payable within one year | 42/48 | €285,684 | €243,825 | -€41,859 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €51,147 | €51,838 | +€690 | +1.3% |
| Financial debts | 43 | €50,000 | €0 | -€50,000 | -100% |
| Credit institutions | 430/8 | €50,000 | €0 | -€50,000 | -100% |
| Trade debts | 44 | €51,577 | €72,402 | +€20,825 | +40.4% |
| Suppliers | 440/4 | €51,577 | €72,402 | +€20,825 | +40.4% |
| Taxes, remuneration and social security | 45 | €6,559 | €6,368 | -€191 | -2.9% |
| Taxes | 450/3 | €877 | €243 | -€634 | -72.3% |
| Remuneration and social security | 454/9 | €5,682 | €6,125 | +€443 | +7.8% |
| Other amounts payable | 47/48 | €126,402 | €113,219 | -€13,183 | -10.4% |
| Accrued charges and deferred income | 492/3 | €11,121 | €4,955 | -€6,167 | -55.4% |
| Remuneration, social security and pensions | 62 | €45,699 | €46,519 | +€820 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,915 | €63,829 | -€1,085 | -1.7% |
| Other operating charges | 640/8 | €2,831 | €2,321 | -€509 | -18.0% |
| Gross operating margin | 9900 | €225,723 | €211,398 | -€14,324 | -6.3% |
| Operating profit (loss) | 9901 | €112,278 | €98,729 | -€13,549 | -12.1% |
| Financial income | 75/76B | €1,565 | €1,126 | -€439 | -28.1% |
| Recurring financial income | 75 | €1,565 | €1,126 | -€439 | -28.1% |
| Financial charges | 65/66B | €13,239 | €11,118 | -€2,121 | -16.0% |
| Recurring financial charges | 65 | €13,239 | €11,118 | -€2,121 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €100,604 | €88,737 | -€11,867 | -11.8% |
| Income taxes | 67/77 | €17,736 | €18,243 | +€506 | +2.9% |
| Profit (loss) for the period | 9904 | €82,868 | €70,494 | -€12,373 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €82,868 | €70,494 | -€12,373 | -14.9% |
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 16 October 2026 via checked.be.