MDB 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.
MDB PHARMA
Largest movements
- Receivables within one year +€39,725
up €39,725 (+245%), from €16,236 to €55,961
- Cash +€15,630
up €15,630 (+11.5%), from €136,321 to €151,951
mainly Net result for the year (+€59,366) and Tax, wage and social debts (+€1,488)
- Tangible fixed assets +€2,377
up €2,377 (+66.1%), from €3,593 to €5,970
- Reserves +€59,366
up €59,366 (+46.5%), from €127,806 to €187,172
- Other debts -€2,850
down €2,850 (-32.4%), from €8,803 to €5,953
- Gross operating margin +€24,092
up €24,092 (+44.4%), from €54,255 to €78,348
- Taxes +€5,212
up €5,212 (+47.2%), from €11,031 to €16,243
- Depreciation -€1,256
down €1,256 (-53.2%), from €2,362 to €1,106
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 | €157,121 | €214,811 | +€57,689 | +36.7% |
| Fixed assets | 21/28 | €4,282 | €6,559 | +€2,277 | +53.2% |
| Intangible fixed assets | 21 | €633 | €534 | -€100 | -15.8% |
| Tangible fixed assets | 22/27 | €3,593 | €5,970 | +€2,377 | +66.1% |
| Furniture and vehicles | 24 | €3,593 | €5,970 | +€2,377 | +66.1% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €152,840 | €208,252 | +€55,412 | +36.3% |
| Amounts receivable within one year | 40/41 | €16,236 | €55,961 | +€39,725 | +245% |
| Trade receivables | 40 | €16,236 | €55,961 | +€39,725 | +245% |
| Cash at bank and in hand | 54/58 | €136,321 | €151,951 | +€15,630 | +11.5% |
| Deferred charges and accrued income | 490/1 | €283 | €340 | +€58 | +20.4% |
| Total equity and liabilities | 10/49 | €157,121 | €214,811 | +€57,689 | +36.7% |
| Equity | 10/15 | €130,806 | €190,172 | +€59,366 | +45.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €127,806 | €187,172 | +€59,366 | +46.5% |
| Distributable reserves | 133 | €127,806 | €187,172 | +€59,366 | +46.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,316 | €24,639 | -€1,677 | -6.4% |
| Amounts payable within one year | 42/48 | €25,201 | €23,453 | -€1,749 | -6.9% |
| Trade debts | 44 | €2,581 | €2,194 | -€387 | -15.0% |
| Suppliers | 440/4 | €2,581 | €2,194 | -€387 | -15.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €13,817 | €15,306 | +€1,488 | +10.8% |
| Taxes | 450/3 | €13,817 | €15,306 | +€1,488 | +10.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,803 | €5,953 | -€2,850 | -32.4% |
| Accrued charges and deferred income | 492/3 | €1,114 | €1,186 | +€72 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,362 | €1,106 | -€1,256 | -53.2% |
| Other operating charges | 640/8 | €528 | €792 | +€264 | +50.0% |
| Non-recurring operating charges | 66A | €220 | €179 | -€41 | -18.5% |
| Gross operating margin | 9900 | €54,255 | €78,348 | +€24,092 | +44.4% |
| Operating profit (loss) | 9901 | €51,146 | €76,270 | +€25,125 | +49.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,018 | €661 | -€357 | -35.1% |
| Recurring financial charges | 65 | €1,018 | €661 | -€357 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €50,128 | €75,609 | +€25,482 | +50.8% |
| Income taxes | 67/77 | €11,031 | €16,243 | +€5,212 | +47.2% |
| Profit (loss) for the period | 9904 | €39,097 | €59,366 | +€20,270 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,097 | €59,366 | +€20,270 | +51.8% |
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 14 October 2026 via checked.be.