NERUM: 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
NERUM
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€760,408
2024 · €677,832+€82,576
Equity
€5.7m
2024 · €4.9m+€760,408
Cash
€5.1m
2024 · €4.4m+€764,656
Balance sheet total
€6.5m
2024 · €5.4m+€1.0m
Largest movements
Assets
- Cash +€764,656
up €764,656 (+17.5%), from €4.4m to €5.1m
mainly Net result for the year (+€760,408) and Trade debts (+€206,081)
- Tangible fixed assets +€164,362
up €164,362 (+83.0%), from €198,100 to €362,462
of which Land and buildings: +€198,978
- Receivables within one year +€131,228
up €131,228 (+25.8%), from €509,614 to €640,842
of which Trade receivables: +€122,816
Equity and liabilities
- Profit (loss) carried forward +€760,408
up €760,408 (+23.0%), from €3.3m to €4.1m
- Trade debts +€206,081
up €206,081 (+52.3%), from €394,382 to €600,463
Income statement
- Gross operating margin +€124,453
up €124,453 (+10.2%), from €1.2m to €1.3m
- Financial income -€51,046
down €51,046 (-33.1%), from €154,019 to €102,973
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
€677,832
Gross operating margin
+€124,453
Staff costs
-€1,383
Depreciation
+€2,701
Write-downs
+€96
Other operating charges
-€228
Financial income
-€51,046
Financial charges
+€12,490
Taxes
-€4,507
Result 2025
€760,408
raises the resultlowers the result
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
+€948,997
Investment
-€184,341
Financing
€0
Cash 2024
€4.4m
From operations (derived)
+€948,997
Net result for the year
+€760,408
Depreciation
+€20,059
Stocks and contracts
+€40,363
Receivables within one year
-€131,228
Trade debts
+€206,081
Tax, wage and social debts
+€59,144
Other debts
-€6,275
Accrued charges and deferred income
+€445
Investment (derived)
-€184,341
Investment in fixed assets (net)
-€184,341
Cash 2025
€5.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,442,058 | €6,461,861 | +€1.0m | +18.7% |
| Formation expenses | 20 | €677 | €597 | -€80 | -11.8% |
| Fixed assets | 21/28 | €230,618 | €394,980 | +€164,362 | +71.3% |
| Tangible fixed assets | 22/27 | €198,100 | €362,462 | +€164,362 | +83.0% |
| Land and buildings | 22 | €135,267 | €334,245 | +€198,978 | +147% |
| Plant, machinery and equipment | 23 | €21,775 | €12,448 | -€9,327 | -42.8% |
| Furniture and vehicles | 24 | €1,676 | €5,365 | +€3,689 | +220% |
| Assets under construction and advance payments | 27 | €39,382 | €10,404 | -€28,978 | -73.6% |
| Financial fixed assets | 28 | €32,518 | €32,518 | = | 0.0% |
| Current assets | 29/58 | €5,210,763 | €6,066,284 | +€855,521 | +16.4% |
| Stocks and contracts in progress | 3 | €319,615 | €279,252 | -€40,363 | -12.6% |
| Stocks | 30/36 | €319,615 | €279,252 | -€40,363 | -12.6% |
| Amounts receivable within one year | 40/41 | €509,614 | €640,842 | +€131,228 | +25.8% |
| Trade receivables | 40 | €496,796 | €619,612 | +€122,816 | +24.7% |
| Other amounts receivable | 41 | €12,818 | €21,230 | +€8,412 | +65.6% |
| Cash at bank and in hand | 54/58 | €4,381,534 | €5,146,190 | +€764,656 | +17.5% |
| Total equity and liabilities | 10/49 | €5,442,058 | €6,461,861 | +€1.0m | +18.7% |
| Equity | 10/15 | €4,942,406 | €5,702,814 | +€760,408 | +15.4% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €1,508,001 | €1,508,001 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,040 | €1,040 | = | 0.0% |
| Distributable reserves | 133 | €1,493,961 | €1,493,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,304,405 | €4,064,813 | +€760,408 | +23.0% |
| Amounts payable | 17/49 | €499,652 | €759,047 | +€259,395 | +51.9% |
| Amounts payable within one year | 42/48 | €474,073 | €733,023 | +€258,950 | +54.6% |
| Trade debts | 44 | €394,382 | €600,463 | +€206,081 | +52.3% |
| Suppliers | 440/4 | €394,382 | €600,463 | +€206,081 | +52.3% |
| Taxes, remuneration and social security | 45 | €73,416 | €132,560 | +€59,144 | +80.6% |
| Taxes | 450/3 | €45,215 | €48,373 | +€3,158 | +7.0% |
| Remuneration and social security | 454/9 | €28,201 | €84,187 | +€55,986 | +199% |
| Other amounts payable | 47/48 | €6,275 | - | -€6,275 | |
| Accrued charges and deferred income | 492/3 | €25,579 | €26,024 | +€445 | +1.7% |
| Remuneration, social security and pensions | 62 | €428,393 | €429,776 | +€1,383 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,760 | €20,059 | -€2,701 | -11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €511 | €415 | -€96 | -18.8% |
| Other operating charges | 640/8 | €7,318 | €7,546 | +€228 | +3.1% |
| Gross operating margin | 9900 | €1,223,674 | €1,348,127 | +€124,453 | +10.2% |
| Operating profit (loss) | 9901 | €764,692 | €890,331 | +€125,639 | +16.4% |
| Financial income | 75/76B | €154,019 | €102,973 | -€51,046 | -33.1% |
| Recurring financial income | 75 | €154,019 | €102,973 | -€51,046 | -33.1% |
| Financial charges | 65/66B | €11,564 | -€926 | -€12,490 | |
| Recurring financial charges | 65 | €11,564 | -€926 | -€12,490 | |
| Profit (loss) for the period before taxes | 9903 | €907,147 | €994,230 | +€87,083 | +9.6% |
| Income taxes | 67/77 | €229,315 | €233,822 | +€4,507 | +2.0% |
| Profit (loss) for the period | 9904 | €677,832 | €760,408 | +€82,576 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €677,832 | €760,408 | +€82,576 | +12.2% |
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 15 October 2026 via checked.be.