NIVELPHARMA: 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.
NIVELPHARMA
Largest movements
- Cash -€24,903
down €24,903 (-19.0%), from €131,231 to €106,327
mainly Contributions, distributions and other (-€125,500) and Trade debts (-€13,640)
- Tangible fixed assets -€21,551
down €21,551 (-20.1%), from €107,241 to €85,690
of which Land and buildings: -€12,618
- Reserves -€125,500
down €125,500 (-59.1%), from €212,500 to €87,000
- Profit (loss) carried forward +€65,451
up €65,451 (+51.1%), from -€128,135 to -€62,684
- Other debts +€41,719
up €41,719 (+17.2%), from €242,592 to €284,311
- Trade debts -€13,640
down €13,640 (-22.1%), from €61,687 to €48,047
- Debts after one year -€9,061
down €9,061 (-45.2%), from €20,062 to €11,000
- Staff costs -€55,795
down €55,795 (-28.6%), from €194,859 to €139,064
- Write-downs +€18,481
new in 2025: €18,481
- Taxes +€10,853
up €10,853 (+84.6%), from €12,830 to €23,683
- Gross operating margin +€4,359
up €4,359 (+1.6%), from €274,265 to €278,623
- Depreciation -€3,710
down €3,710 (-14.7%), from €25,260 to €21,551
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 | €476,839 | €440,169 | -€36,669 | -7.7% |
| Fixed assets | 21/28 | €112,241 | €90,690 | -€21,551 | -19.2% |
| Tangible fixed assets | 22/27 | €107,241 | €85,690 | -€21,551 | -20.1% |
| Land and buildings | 22 | €64,339 | €51,721 | -€12,618 | -19.6% |
| Plant, machinery and equipment | 23 | €39,814 | €33,968 | -€5,845 | -14.7% |
| Furniture and vehicles | 24 | €3,088 | - | -€3,088 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €364,598 | €349,479 | -€15,119 | -4.1% |
| Stocks and contracts in progress | 3 | €143,960 | €145,043 | +€1,083 | +0.8% |
| Stocks | 30/36 | €143,960 | €145,043 | +€1,083 | +0.8% |
| Amounts receivable within one year | 40/41 | €87,950 | €92,585 | +€4,635 | +5.3% |
| Trade receivables | 40 | €76,247 | €84,098 | +€7,852 | +10.3% |
| Other amounts receivable | 41 | €11,704 | €8,487 | -€3,217 | -27.5% |
| Cash at bank and in hand | 54/58 | €131,231 | €106,327 | -€24,903 | -19.0% |
| Deferred charges and accrued income | 490/1 | €1,458 | €5,524 | +€4,067 | +279.0% |
| Total equity and liabilities | 10/49 | €476,839 | €440,169 | -€36,669 | -7.7% |
| Equity | 10/15 | €124,365 | €64,316 | -€60,049 | -48.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €212,500 | €87,000 | -€125,500 | -59.1% |
| Distributable reserves | 133 | €212,500 | €87,000 | -€125,500 | -59.1% |
| Profit (loss) carried forward | 14 | -€128,135 | -€62,684 | +€65,451 | +51.1% |
| Amounts payable | 17/49 | €352,473 | €375,853 | +€23,380 | +6.6% |
| Amounts payable after more than one year | 17 | €20,062 | €11,000 | -€9,061 | -45.2% |
| Financial debts | 170/4 | €20,062 | €11,000 | -€9,061 | -45.2% |
| Amounts payable within one year | 42/48 | €332,412 | €364,853 | +€32,441 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €8,735 | €9,061 | +€327 | +3.7% |
| Trade debts | 44 | €61,687 | €48,047 | -€13,640 | -22.1% |
| Suppliers | 440/4 | €61,687 | €48,047 | -€13,640 | -22.1% |
| Taxes, remuneration and social security | 45 | €19,398 | €23,433 | +€4,035 | +20.8% |
| Taxes | 450/3 | €4,602 | €3,375 | -€1,228 | -26.7% |
| Remuneration and social security | 454/9 | €14,796 | €20,059 | +€5,263 | +35.6% |
| Other amounts payable | 47/48 | €242,592 | €284,311 | +€41,719 | +17.2% |
| Remuneration, social security and pensions | 62 | €194,859 | €139,064 | -€55,795 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,260 | €21,551 | -€3,710 | -14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,481 | +€18,481 | |
| Other operating charges | 640/8 | €0 | €308 | +€308 | +440200.0% |
| Gross operating margin | 9900 | €274,265 | €278,623 | +€4,359 | +1.6% |
| Operating profit (loss) | 9901 | €54,145 | €99,219 | +€45,074 | +83.2% |
| Financial income | 75/76B | €987 | €959 | -€29 | -2.9% |
| Recurring financial income | 75 | €987 | €959 | -€29 | -2.9% |
| Financial charges | 65/66B | €9,223 | €11,044 | +€1,821 | +19.7% |
| Recurring financial charges | 65 | €9,223 | €11,044 | +€1,821 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €45,910 | €89,134 | +€43,224 | +94.2% |
| Income taxes | 67/77 | €12,830 | €23,683 | +€10,853 | +84.6% |
| Profit (loss) for the period | 9904 | €33,080 | €65,451 | +€32,371 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,080 | €65,451 | +€32,371 | +97.9% |
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 5 October 2026 via checked.be.