MEPHARMA: what changed
Two fiscal 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.
MEPHARMA
Largest movements
- Cash +€9,869
up €9,869 (+4.3%), from €229,610 to €239,479
mainly Net result for the year (+€60,000) and Depreciation (+€8,282)
- Receivables within one year +€9,296
up €9,296 (+11.2%), from €82,849 to €92,145
of which Trade receivables: +€8,522
- Reserves +€60,000
up €60,000 (+15.5%), from €387,100 to €447,100
of which Distributable reserves: +€60,000
- Debts after one year -€29,115
down €29,115 (-13.9%), from €210,130 to €181,016
- Trade debts -€14,835
down €14,835 (-25.8%), from €57,390 to €42,555
- Gross operating margin -€10,155
down €10,155 (-5.2%), from €196,098 to €185,943
- Taxes -€3,322
down €3,322 (-11.9%), from €27,955 to €24,632
- Financial charges -€3,188
down €3,188 (-31.0%), from €10,297 to €7,109
- Financial income +€2,791
up €2,791 (+307.8%), from €907 to €3,698
- Staff costs +€2,050
up €2,050 (+2.4%), from €85,635 to €87,685
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.
Cash bridge derived
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 | €684,404 | €701,341 | +€16,937 | +2.5% |
| Fixed assets | 21/28 | €31,615 | €25,932 | -€5,683 | -18.0% |
| Tangible fixed assets | 22/27 | €31,615 | €25,932 | -€5,683 | -18.0% |
| Plant, machinery and equipment | 23 | €22,965 | €17,436 | -€5,528 | -24.1% |
| Furniture and vehicles | 24 | €8,650 | €8,496 | -€155 | -1.8% |
| Current assets | 29/58 | €652,789 | €675,409 | +€22,620 | +3.5% |
| Stocks and contracts in progress | 3 | €219,011 | €220,337 | +€1,326 | +0.6% |
| Stocks | 30/36 | €219,011 | €220,337 | +€1,326 | +0.6% |
| Amounts receivable within one year | 40/41 | €82,849 | €92,145 | +€9,296 | +11.2% |
| Trade receivables | 40 | €82,534 | €91,056 | +€8,522 | +10.3% |
| Other amounts receivable | 41 | €315 | €1,089 | +€774 | +245.7% |
| Current investments | 50/53 | €109,893 | €112,270 | +€2,377 | +2.2% |
| Cash at bank and in hand | 54/58 | €229,610 | €239,479 | +€9,869 | +4.3% |
| Deferred charges and accrued income | 490/1 | €11,427 | €11,178 | -€249 | -2.2% |
| Total equity and liabilities | 10/49 | €684,404 | €701,341 | +€16,937 | +2.5% |
| Equity | 10/15 | €393,300 | €453,300 | +€60,000 | +15.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €387,100 | €447,100 | +€60,000 | +15.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €385,240 | €445,240 | +€60,000 | +15.6% |
| Provisions and deferred taxes | 16 | €8,753 | €9,023 | +€270 | +3.1% |
| Provisions for liabilities and charges | 160/5 | €8,753 | €9,023 | +€270 | +3.1% |
| Other liabilities and charges | 164/5 | €8,753 | €9,023 | +€270 | +3.1% |
| Amounts payable | 17/49 | €282,351 | €239,017 | -€43,334 | -15.3% |
| Amounts payable after more than one year | 17 | €210,130 | €181,016 | -€29,115 | -13.9% |
| Financial debts | 170/4 | €210,130 | €181,016 | -€29,115 | -13.9% |
| Amounts payable within one year | 42/48 | €72,221 | €58,002 | -€14,219 | -19.7% |
| Trade debts | 44 | €57,390 | €42,555 | -€14,835 | -25.8% |
| Suppliers | 440/4 | €57,390 | €42,555 | -€14,835 | -25.8% |
| Taxes, remuneration and social security | 45 | €14,831 | €15,447 | +€616 | +4.2% |
| Taxes | 450/3 | €6,812 | €7,053 | +€241 | +3.5% |
| Remuneration and social security | 454/9 | €8,019 | €8,394 | +€375 | +4.7% |
| Remuneration, social security and pensions | 62 | €85,635 | €87,685 | +€2,050 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,158 | €8,282 | +€1,124 | +15.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €232 | €270 | +€38 | +16.5% |
| Other operating charges | 640/8 | €728 | €1,662 | +€935 | +128.4% |
| Gross operating margin | 9900 | €196,098 | €185,943 | -€10,155 | -5.2% |
| Operating profit (loss) | 9901 | €102,344 | €88,043 | -€14,301 | -14.0% |
| Financial income | 75/76B | €907 | €3,698 | +€2,791 | +307.8% |
| Recurring financial income | 75 | €907 | €3,698 | +€2,791 | +307.8% |
| Financial charges | 65/66B | €10,297 | €7,109 | -€3,188 | -31.0% |
| Recurring financial charges | 65 | €10,297 | €7,109 | -€3,188 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €92,955 | €84,632 | -€8,322 | -9.0% |
| Income taxes | 67/77 | €27,955 | €24,632 | -€3,322 | -11.9% |
| Profit (loss) for the period | 9904 | €65,000 | €60,000 | -€5,000 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,000 | €60,000 | -€5,000 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.