MACO - PHARMA BENELUX: 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
MACO - PHARMA BENELUX
NACE 21.201, Manufacture of basic pharmaceutical products and pharmaceutical preparations
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€73,268
2024 · €619,867-€546,599
Equity
€3.1m
2024 · €3.1m
Cash
€22,106
2024 · €63,702-€41,596
Balance sheet total
€4.2m
2024 · €4.4m-€258,738
Largest movements
Assets
- Receivables within one year -€203,572
down €203,572 (-12.4%), from €1.6m to €1.4m
of which Other amounts receivable: -€238,332
Equity and liabilities
- Other debts -€546,599
down €546,599 (-88.2%), from €619,867 to €73,268
- Trade debts +€273,477
up €273,477 (+50.4%), from €542,531 to €816,008
Income statement
- Financial income -€555,711
down €555,711 (-97.5%), from €569,687 to €13,976
- Goods and materials +€154,621
up €154,621 (+5.8%), from €2.7m to €2.8m
of which Purchases: +€148,821
- Services and other goods -€81,852
down €81,852 (-26.6%), from €308,242 to €226,390
- Financial charges -€70,915
down €70,915 (-85.5%), from €82,977 to €12,062
of which Non-recurring financial charges: -€71,000
- Write-downs -€48,903
down €48,903, from €12,531 to -€36,371
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
€619,867
Turnover
+€40,576
Other operating income
+€126
Goods and materials
-€154,621
Services and other goods
+€81,852
Staff costs
+€8,099
Depreciation
+€3,407
Write-downs
+€48,903
Other operating charges
-€5,521
Other operating items
-€79,939
Financial income
-€555,711
Financial charges
+€70,915
Taxes
-€4,684
Result 2025
€73,268
raises the resultlowers the resultnot broken down further in the accounts
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
+€25,648
Investment
+€6,024
Financing
-€73,268
Cash 2024
€63,702
From operations (derived)
+€25,648
Net result for the year
+€73,268
Depreciation
+€4,574
Stocks and contracts
+€2,961
Receivables within one year
+€203,572
Deferred charges and accrued income
+€11
Trade debts
+€273,477
Tax, wage and social debts
+€14,384
Other debts
-€546,599
Investment (derived)
+€6,024
Investment in fixed assets (net)
+€6,024
Financing
-€73,268
Contributions, distributions and other
-€73,268
Cash 2025
€22,106
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,449,678 | €4,190,940 | -€258,738 | -5.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,720,647 | €2,710,049 | -€10,598 | -0.4% |
| Tangible fixed assets | 22/27 | €16,678 | €6,080 | -€10,598 | -63.5% |
| Plant, machinery and equipment | 23 | €13,092 | €3,920 | -€9,171 | -70.1% |
| Furniture and vehicles | 24 | €3,296 | €2,014 | -€1,282 | -38.9% |
| Other tangible fixed assets | 26 | €290 | €145 | -€145 | -49.9% |
| Financial fixed assets | 28 | €2,703,969 | €2,703,969 | = | 0.0% |
| Affiliated companies | 280/1 | €2,700,000 | €2,700,000 | = | 0.0% |
| Participating interests | 280 | €2,700,000 | €2,700,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,969 | €3,969 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,969 | €3,969 | = | 0.0% |
| Current assets | 29/58 | €1,729,031 | €1,480,891 | -€248,140 | -14.4% |
| Stocks and contracts in progress | 3 | €23,214 | €20,253 | -€2,961 | -12.8% |
| Stocks | 30/36 | €23,214 | €20,253 | -€2,961 | -12.8% |
| Goods purchased for resale | 34 | €23,214 | €20,253 | -€2,961 | -12.8% |
| Amounts receivable within one year | 40/41 | €1,641,148 | €1,437,576 | -€203,572 | -12.4% |
| Trade receivables | 40 | €812,288 | €847,048 | +€34,760 | +4.3% |
| Other amounts receivable | 41 | €828,861 | €590,529 | -€238,332 | -28.8% |
| Cash at bank and in hand | 54/58 | €63,702 | €22,106 | -€41,596 | -65.3% |
| Deferred charges and accrued income | 490/1 | €968 | €956 | -€11 | -1.2% |
| Total equity and liabilities | 10/49 | €4,449,678 | €4,190,940 | -€258,738 | -5.8% |
| Equity | 10/15 | €3,050,723 | €3,050,723 | = | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,982,523 | €2,982,523 | = | 0.0% |
| Amounts payable | 17/49 | €1,398,955 | €1,140,217 | -€258,738 | -18.5% |
| Amounts payable within one year | 42/48 | €1,398,955 | €1,140,217 | -€258,738 | -18.5% |
| Trade debts | 44 | €542,531 | €816,008 | +€273,477 | +50.4% |
| Suppliers | 440/4 | €542,531 | €816,008 | +€273,477 | +50.4% |
| Taxes, remuneration and social security | 45 | €236,556 | €250,941 | +€14,384 | +6.1% |
| Taxes | 450/3 | €69,830 | €91,841 | +€22,011 | +31.5% |
| Remuneration and social security | 454/9 | €166,727 | €159,100 | -€7,627 | -4.6% |
| Other amounts payable | 47/48 | €619,867 | €73,268 | -€546,599 | -88.2% |
| Operating income | 70/76A | €3,741,487 | €3,703,991 | -€37,496 | -1.0% |
| Turnover | 70 | €3,642,491 | €3,683,067 | +€40,576 | +1.1% |
| Other operating income | 74 | €7,996 | €8,122 | +€126 | +1.6% |
| Non-recurring operating income | 76A | €91,000 | €12,802 | -€78,198 | -85.9% |
| Operating charges | 60/66A | €3,580,229 | €3,599,852 | +€19,624 | +0.5% |
| Goods for resale, raw materials and consumables | 60 | €2,659,003 | €2,813,624 | +€154,621 | +5.8% |
| Purchases | 600/8 | €2,660,969 | €2,809,790 | +€148,821 | +5.6% |
| Change in stocks: decrease (increase) | 609 | -€1,966 | €3,834 | +€5,800 | |
| Services and other goods | 61 | €308,242 | €226,390 | -€81,852 | -26.6% |
| Remuneration, social security and pensions | 62 | €587,887 | €579,788 | -€8,099 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,981 | €4,574 | -€3,407 | -42.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,531 | -€36,371 | -€48,903 | |
| Other operating charges | 640/8 | €4,584 | €10,106 | +€5,521 | +120% |
| Non-recurring operating charges | 66A | - | €1,741 | +€1,741 | |
| Operating profit (loss) | 9901 | €161,258 | €104,139 | -€57,119 | -35.4% |
| Financial income | 75/76B | €569,687 | €13,976 | -€555,711 | -97.5% |
| Recurring financial income | 75 | €569,687 | €13,976 | -€555,711 | -97.5% |
| Income from financial fixed assets | 750 | €562,475 | - | -€562,475 | |
| Income from current assets | 751 | €7,142 | €13,445 | +€6,303 | +88.3% |
| Other financial income | 752/9 | €70 | €531 | +€461 | +658% |
| Financial charges | 65/66B | €82,977 | €12,062 | -€70,915 | -85.5% |
| Recurring financial charges | 65 | €11,977 | €12,062 | +€85 | +0.7% |
| Debt charges | 650 | €371 | - | -€371 | |
| Other financial charges | 652/9 | €11,606 | €12,062 | +€456 | +3.9% |
| Non-recurring financial charges | 66B | €71,000 | - | -€71,000 | |
| Profit (loss) for the period before taxes | 9903 | €647,968 | €106,053 | -€541,915 | -83.6% |
| Income taxes | 67/77 | €28,101 | €32,785 | +€4,684 | +16.7% |
| Taxes | 670/3 | €28,101 | €32,785 | +€4,684 | +16.7% |
| Profit (loss) for the period | 9904 | €619,867 | €73,268 | -€546,599 | -88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €619,867 | €73,268 | -€546,599 | -88.2% |
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 28 October 2026 via checked.be.