LONDON 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.
LONDON PHARMA
Largest movements
- Cash +€13,959
new in 2025: €13,959
mainly Net result for the year (+€13,884) and Trade debts (+€13,838)
- Tangible fixed assets -€4,163
down €4,163 (-11.6%), from €35,956 to €31,792
of which Furniture and vehicles: -€6,469
- Stocks and contracts +€2,937
up €2,937 (+2.7%), from €109,486 to €112,424
of which Contracts in progress: +€2,346
- Debts after one year -€14,476
down €14,476 (-82.3%), from €17,593 to €3,118
- Profit (loss) carried forward +€13,884
up €13,884 (+103%), from €13,431 to €27,315
- Trade debts +€13,838
up €13,838 (+23.0%), from €60,049 to €73,887
- Short-term financial debts -€4,313
no longer reported in 2025 (was €4,313)
- Tax, wage and social debts +€3,401
up €3,401 (+29.0%), from €11,722 to €15,123
of which Taxes: +€3,401
- Staff costs -€13,501
down €13,501 (-19.5%), from €69,221 to €55,720
- Taxes +€4,946
up €4,946 (+1,281%), from €386 to €5,333
- Gross operating margin +€4,343
up €4,343 (+4.7%), from €91,435 to €95,778
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 | €148,717 | €161,051 | +€12,334 | +8.3% |
| Fixed assets | 21/28 | €36,708 | €32,545 | -€4,163 | -11.3% |
| Tangible fixed assets | 22/27 | €35,956 | €31,792 | -€4,163 | -11.6% |
| Plant, machinery and equipment | 23 | €5,741 | €9,233 | +€3,493 | +60.8% |
| Furniture and vehicles | 24 | €19,619 | €13,150 | -€6,469 | -33.0% |
| Other tangible fixed assets | 26 | €10,596 | €9,409 | -€1,187 | -11.2% |
| Financial fixed assets | 28 | €752 | €752 | = | 0.0% |
| Current assets | 29/58 | €112,009 | €128,506 | +€16,497 | +14.7% |
| Stocks and contracts in progress | 3 | €109,486 | €112,424 | +€2,937 | +2.7% |
| Stocks | 30/36 | €79,853 | €80,444 | +€591 | +0.7% |
| Contracts in progress | 37 | €29,634 | €31,979 | +€2,346 | +7.9% |
| Amounts receivable within one year | 40/41 | €1,370 | €1,128 | -€242 | -17.7% |
| Trade receivables | 40 | €1,343 | €1,128 | -€215 | -16.0% |
| Other amounts receivable | 41 | €27 | - | -€27 | |
| Cash at bank and in hand | 54/58 | - | €13,959 | +€13,959 | |
| Deferred charges and accrued income | 490/1 | €1,153 | €996 | -€157 | -13.6% |
| Total equity and liabilities | 10/49 | €148,717 | €161,051 | +€12,334 | +8.3% |
| Equity | 10/15 | €55,040 | €68,924 | +€13,884 | +25.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €23,017 | €23,017 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €21,158 | €21,158 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,431 | €27,315 | +€13,884 | +103% |
| Amounts payable | 17/49 | €93,677 | €92,127 | -€1,550 | -1.7% |
| Amounts payable after more than one year | 17 | €17,593 | €3,118 | -€14,476 | -82.3% |
| Other amounts payable | 178/9 | €17,593 | €3,118 | -€14,476 | -82.3% |
| Amounts payable within one year | 42/48 | €76,084 | €89,010 | +€12,926 | +17.0% |
| Financial debts | 43 | €4,313 | - | -€4,313 | |
| Credit institutions | 430/8 | €4,313 | - | -€4,313 | |
| Trade debts | 44 | €60,049 | €73,887 | +€13,838 | +23.0% |
| Suppliers | 440/4 | €60,049 | €73,887 | +€13,838 | +23.0% |
| Taxes, remuneration and social security | 45 | €11,722 | €15,123 | +€3,401 | +29.0% |
| Taxes | 450/3 | €2,667 | €6,068 | +€3,401 | +128% |
| Remuneration and social security | 454/9 | €9,055 | €9,055 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €69,221 | €55,720 | -€13,501 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,018 | €8,763 | +€745 | +9.3% |
| Other operating charges | 640/8 | €4,410 | €4,475 | +€66 | +1.5% |
| Gross operating margin | 9900 | €91,435 | €95,778 | +€4,343 | +4.7% |
| Operating profit (loss) | 9901 | €9,786 | €26,819 | +€17,033 | +174% |
| Financial income | 75/76B | - | €303 | +€303 | |
| Recurring financial income | 75 | - | €303 | +€303 | |
| Financial charges | 65/66B | €8,700 | €7,905 | -€795 | -9.1% |
| Recurring financial charges | 65 | €8,700 | €7,905 | -€795 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €1,086 | €19,217 | +€18,130 | +1,669% |
| Income taxes | 67/77 | €386 | €5,333 | +€4,946 | +1,281% |
| Profit (loss) for the period | 9904 | €700 | €13,884 | +€13,184 | +1,884% |
| Profit (loss) for the period to be appropriated | 9905 | €700 | €13,884 | +€13,184 | +1,884% |
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 18 October 2026 via checked.be.