MAYAKU PHARMACEUTICAL DEVELOPMENT: 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.
MAYAKU PHARMACEUTICAL DEVELOPMENT
Largest movements
- Cash +€53,045
up €53,045 (+227%), from €23,388 to €76,433
mainly Other debts (+€19,977) and Debts after one year (+€18,017)
- Receivables within one year +€21,036
up €21,036 (+319%), from €6,588 to €27,624
of which Trade receivables: +€24,016
- Receivables after one year -€7,000
no longer reported in 2025 (was €7,000)
- Tangible fixed assets +€5,074
up €5,074 (+9.5%), from €53,532 to €58,606
of which Plant, machinery and equipment: +€2,885
- Other debts +€19,977
up €19,977 (+235%), from €8,485 to €28,462
- Debts after one year +€18,017
up €18,017 (+26.7%), from €67,531 to €85,548
- Tax, wage and social debts +€15,951
up €15,951 (+189%), from €8,431 to €24,382
of which Remuneration and social security: +€13,915
- Current portion of long-term debt +€11,976
up €11,976 (+90.0%), from €13,312 to €25,288
- Trade debts +€3,883
up €3,883 (+238%), from €1,630 to €5,512
- Gross operating margin +€56,041
up €56,041 (+115%), from €48,711 to €104,752
- Staff costs +€54,755
up €54,755 (+180%), from €30,360 to €85,115
- Depreciation +€3,337
up €3,337 (+29.0%), from €11,525 to €14,862
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 | €99,127 | €170,483 | +€71,356 | +72.0% |
| Fixed assets | 21/28 | €55,312 | €60,153 | +€4,840 | +8.8% |
| Intangible fixed assets | 21 | €680 | €446 | -€234 | -34.4% |
| Tangible fixed assets | 22/27 | €53,532 | €58,606 | +€5,074 | +9.5% |
| Plant, machinery and equipment | 23 | €39,561 | €42,446 | +€2,885 | +7.3% |
| Furniture and vehicles | 24 | €1,793 | €4,179 | +€2,386 | +133% |
| Other tangible fixed assets | 26 | €12,178 | €11,981 | -€197 | -1.6% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €43,815 | €110,330 | +€66,516 | +152% |
| Amounts receivable after more than one year | 29 | €7,000 | - | -€7,000 | |
| Other amounts receivable | 291 | €7,000 | - | -€7,000 | |
| Stocks and contracts in progress | 3 | €3,500 | €3,219 | -€281 | -8.0% |
| Stocks | 30/36 | €3,500 | €3,219 | -€281 | -8.0% |
| Amounts receivable within one year | 40/41 | €6,588 | €27,624 | +€21,036 | +319% |
| Trade receivables | 40 | €2,271 | €26,287 | +€24,016 | +1,058% |
| Other amounts receivable | 41 | €4,317 | €1,337 | -€2,980 | -69.0% |
| Cash at bank and in hand | 54/58 | €23,388 | €76,433 | +€53,045 | +227% |
| Deferred charges and accrued income | 490/1 | €3,339 | €3,055 | -€284 | -8.5% |
| Total equity and liabilities | 10/49 | €99,127 | €170,483 | +€71,356 | +72.0% |
| Equity | 10/15 | -€262 | €1,291 | +€1,553 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,262 | -€709 | +€1,553 | +68.6% |
| Amounts payable | 17/49 | €99,389 | €169,192 | +€69,803 | +70.2% |
| Amounts payable after more than one year | 17 | €67,531 | €85,548 | +€18,017 | +26.7% |
| Financial debts | 170/4 | €67,531 | €85,548 | +€18,017 | +26.7% |
| Amounts payable within one year | 42/48 | €31,858 | €83,644 | +€51,786 | +163% |
| Current portion of amounts payable after more than one year | 42 | €13,312 | €25,288 | +€11,976 | +90.0% |
| Trade debts | 44 | €1,630 | €5,512 | +€3,883 | +238% |
| Suppliers | 440/4 | €1,630 | €5,512 | +€3,883 | +238% |
| Taxes, remuneration and social security | 45 | €8,431 | €24,382 | +€15,951 | +189% |
| Taxes | 450/3 | €1,092 | €3,127 | +€2,036 | +186% |
| Remuneration and social security | 454/9 | €7,340 | €21,255 | +€13,915 | +190% |
| Other amounts payable | 47/48 | €8,485 | €28,462 | +€19,977 | +235% |
| Remuneration, social security and pensions | 62 | €30,360 | €85,115 | +€54,755 | +180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,525 | €14,862 | +€3,337 | +29.0% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €48,711 | €104,752 | +€56,041 | +115% |
| Operating profit (loss) | 9901 | €6,299 | €4,231 | -€2,067 | -32.8% |
| Financial income | 75/76B | €74 | €7 | -€67 | -90.1% |
| Recurring financial income | 75 | €74 | €7 | -€67 | -90.1% |
| Financial charges | 65/66B | €1,542 | €2,551 | +€1,009 | +65.4% |
| Recurring financial charges | 65 | €1,542 | €2,551 | +€1,009 | +65.4% |
| Profit (loss) for the period before taxes | 9903 | €4,831 | €1,688 | -€3,144 | -65.1% |
| Income taxes | 67/77 | €47 | €135 | +€88 | +190% |
| Profit (loss) for the period | 9904 | €4,785 | €1,553 | -€3,232 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,785 | €1,553 | -€3,232 | -67.5% |
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.