MF PHARMA: what changed
MF PHARMA
Largest movements
- Receivables within one year +€11,832
up €11,832 (+149%), from €7,967 to €19,799
- Tangible fixed assets -€7,568
down €7,568 (-78.0%), from €9,705 to €2,137
- Cash -€5,399
down €5,399 (-6.8%), from €79,493 to €74,094
mainly Contributions, distributions and other (-€90,000) and Receivables within one year (-€11,832)
- Profit (loss) carried forward -€55,495
down €55,495 (-80.1%), from €69,242 to €13,747
- Other debts +€53,946
new in 2025: €53,946
- Tax, wage and social debts +€4,977
up €4,977 (+26.5%), from €18,796 to €23,773
- Current portion of long-term debt -€3,374
down €3,374 (-65.8%), from €5,128 to €1,754
- Debts after one year -€1,754
no longer reported in 2025 (was €1,754)
- Financial charges +€3,225
up €3,225 (+652%), from €495 to €3,719
- Gross operating margin -€3,118
down €3,118 (-5.3%), from €58,808 to €55,691
- Taxes -€929
down €929 (-8.7%), from €10,673 to €9,744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €97,165 | €96,029 | -€1,136 | -1.2% |
| Fixed assets | 21/28 | €9,705 | €2,137 | -€7,568 | -78.0% |
| Tangible fixed assets | 22/27 | €9,705 | €2,137 | -€7,568 | -78.0% |
| Furniture and vehicles | 24 | €9,705 | €2,137 | -€7,568 | -78.0% |
| Current assets | 29/58 | €87,460 | €93,892 | +€6,432 | +7.4% |
| Amounts receivable within one year | 40/41 | €7,967 | €19,799 | +€11,832 | +149% |
| Trade receivables | 40 | €7,967 | €19,799 | +€11,832 | +149% |
| Cash at bank and in hand | 54/58 | €79,493 | €74,094 | -€5,399 | -6.8% |
| Total equity and liabilities | 10/49 | €97,165 | €96,029 | -€1,136 | -1.2% |
| Equity | 10/15 | €71,242 | €15,747 | -€55,495 | -77.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,242 | €13,747 | -€55,495 | -80.1% |
| Amounts payable | 17/49 | €25,923 | €80,282 | +€54,360 | +210% |
| Amounts payable after more than one year | 17 | €1,754 | - | -€1,754 | |
| Financial debts | 170/4 | €1,754 | - | -€1,754 | |
| Amounts payable within one year | 42/48 | €24,169 | €80,282 | +€56,113 | +232% |
| Current portion of amounts payable after more than one year | 42 | €5,128 | €1,754 | -€3,374 | -65.8% |
| Trade debts | 44 | €245 | €809 | +€564 | +230% |
| Suppliers | 440/4 | €245 | €809 | +€564 | +230% |
| Taxes, remuneration and social security | 45 | €18,796 | €23,773 | +€4,977 | +26.5% |
| Taxes | 450/3 | €18,796 | €23,773 | +€4,977 | +26.5% |
| Other amounts payable | 47/48 | - | €53,946 | +€53,946 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,567 | €7,568 | +€1 | 0.0% |
| Other operating charges | 640/8 | €638 | €155 | -€483 | -75.7% |
| Gross operating margin | 9900 | €58,808 | €55,691 | -€3,118 | -5.3% |
| Operating profit (loss) | 9901 | €50,603 | €47,968 | -€2,635 | -5.2% |
| Financial income | 75/76B | €517 | - | -€517 | |
| Recurring financial income | 75 | €517 | - | -€517 | |
| Financial charges | 65/66B | €495 | €3,719 | +€3,225 | +652% |
| Recurring financial charges | 65 | €495 | €3,719 | +€3,225 | +652% |
| Profit (loss) for the period before taxes | 9903 | €50,625 | €44,249 | -€6,377 | -12.6% |
| Income taxes | 67/77 | €10,673 | €9,744 | -€929 | -8.7% |
| Profit (loss) for the period | 9904 | €39,953 | €34,505 | -€5,448 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,953 | €34,505 | -€5,448 | -13.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.