PALATINE: 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
PALATINE
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€60,905
2024 · -€90,665+€29,760
Equity
€487,128
2024 · €548,033-€60,905
Cash
€114,808
2024 · €110,847+€3,962
Balance sheet total
€6.6m
2024 · €6.8m-€227,619
Largest movements
Assets
- Receivables within one year -€105,636
down €105,636 (-14.2%), from €742,495 to €636,859
of which Other amounts receivable: -€140,981
Equity and liabilities
- Debts after one year -€281,857
down €281,857 (-12.2%), from €2.3m to €2.0m
- Other debts +€121,099
up €121,099 (+8.1%), from €1.5m to €1.6m
Income statement
- Gross operating margin +€43,062
up €43,062 (+6.3%), from €685,268 to €728,330
- Financial income -€37,773
down €37,773 (-69.2%), from €54,570 to €16,797
- Taxes -€23,924
down €23,924, from €11,924 to -€12,000
- Financial charges -€14,586
down €14,586 (-7.9%), from €185,212 to €170,626
- Staff costs +€13,185
up €13,185 (+2.6%), from €508,902 to €522,087
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
-€90,665
Gross operating margin
+€43,062
Staff costs
-€13,185
Depreciation
-€1,022
Other operating charges
+€169
Financial income
-€37,773
Financial charges
+€14,586
Taxes
+€23,924
Result 2025
-€60,905
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
+€289,867
Investment
-€5,659
Financing
-€280,246
Cash 2024
€110,847
From operations (derived)
+€289,867
Net result for the year
-€60,905
Depreciation
+€124,320
Stocks and contracts
+€7,092
Receivables within one year
+€105,636
Deferred charges and accrued income
+€191
Trade debts
-€7,559
Tax, wage and social debts
+€892
Other debts
+€121,099
Accrued charges and deferred income
-€900
Investment (derived)
-€5,659
Investment in fixed assets (net)
-€5,659
Financing
-€280,246
Debts after one year
-€281,857
Current portion of long-term debt
+€1,611
Cash 2025
€114,808
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,804,347 | €6,576,728 | -€227,619 | -3.3% |
| Fixed assets | 21/28 | €5,542,260 | €5,423,599 | -€118,661 | -2.1% |
| Intangible fixed assets | 21 | €294,000 | €231,000 | -€63,000 | -21.4% |
| Tangible fixed assets | 22/27 | €831,483 | €775,821 | -€55,661 | -6.7% |
| Land and buildings | 22 | €801,079 | €755,665 | -€45,414 | -5.7% |
| Plant, machinery and equipment | 23 | €1,691 | €1,150 | -€542 | -32.0% |
| Furniture and vehicles | 24 | €28,712 | €19,007 | -€9,705 | -33.8% |
| Financial fixed assets | 28 | €4,416,777 | €4,416,777 | = | 0.0% |
| Current assets | 29/58 | €1,262,088 | €1,153,130 | -€108,958 | -8.6% |
| Stocks and contracts in progress | 3 | €273,217 | €266,125 | -€7,092 | -2.6% |
| Stocks | 30/36 | €273,217 | €266,125 | -€7,092 | -2.6% |
| Amounts receivable within one year | 40/41 | €742,495 | €636,859 | -€105,636 | -14.2% |
| Trade receivables | 40 | €181,432 | €216,777 | +€35,345 | +19.5% |
| Other amounts receivable | 41 | €561,063 | €420,082 | -€140,981 | -25.1% |
| Current investments | 50/53 | €133,342 | €133,342 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €110,847 | €114,808 | +€3,962 | +3.6% |
| Deferred charges and accrued income | 490/1 | €2,187 | €1,996 | -€191 | -8.7% |
| Total equity and liabilities | 10/49 | €6,804,347 | €6,576,728 | -€227,619 | -3.3% |
| Equity | 10/15 | €548,033 | €487,128 | -€60,905 | -11.1% |
| Contributions | 10/11 | €61,914 | €61,914 | = | 0.0% |
| Capital | 10 | €61,914 | €61,914 | = | 0.0% |
| Issued capital | 100 | €61,914 | €61,914 | = | 0.0% |
| Reserves | 13 | €156,427 | €156,427 | = | 0.0% |
| Non-distributable reserves | 130/1 | €139,542 | €139,542 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Own shares acquired | 1312 | €133,342 | €133,342 | = | 0.0% |
| Distributable reserves | 133 | €16,885 | €16,885 | = | 0.0% |
| Profit (loss) carried forward | 14 | €329,693 | €268,788 | -€60,905 | -18.5% |
| Amounts payable | 17/49 | €6,256,314 | €6,089,600 | -€166,714 | -2.7% |
| Amounts payable after more than one year | 17 | €2,311,528 | €2,029,671 | -€281,857 | -12.2% |
| Financial debts | 170/4 | €2,311,528 | €2,029,671 | -€281,857 | -12.2% |
| Amounts payable within one year | 42/48 | €3,943,887 | €4,059,930 | +€116,043 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €280,246 | €281,857 | +€1,611 | +0.6% |
| Financial debts | 43 | €1,200,000 | €1,200,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,200,000 | €1,200,000 | = | 0.0% |
| Trade debts | 44 | €834,675 | €827,116 | -€7,559 | -0.9% |
| Suppliers | 440/4 | €834,675 | €827,116 | -€7,559 | -0.9% |
| Taxes, remuneration and social security | 45 | €134,974 | €135,865 | +€892 | +0.7% |
| Taxes | 450/3 | €36,325 | €14,109 | -€22,216 | -61.2% |
| Remuneration and social security | 454/9 | €98,649 | €121,756 | +€23,107 | +23.4% |
| Other amounts payable | 47/48 | €1,493,992 | €1,615,092 | +€121,099 | +8.1% |
| Accrued charges and deferred income | 492/3 | €900 | €0 | -€900 | -100% |
| Remuneration, social security and pensions | 62 | €508,902 | €522,087 | +€13,185 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,299 | €124,320 | +€1,022 | +0.8% |
| Other operating charges | 640/8 | €1,168 | €998 | -€169 | -14.5% |
| Gross operating margin | 9900 | €685,268 | €728,330 | +€43,062 | +6.3% |
| Operating profit (loss) | 9901 | €51,900 | €80,924 | +€29,024 | +55.9% |
| Financial income | 75/76B | €54,570 | €16,797 | -€37,773 | -69.2% |
| Recurring financial income | 75 | €54,570 | €16,797 | -€37,773 | -69.2% |
| Financial charges | 65/66B | €185,212 | €170,626 | -€14,586 | -7.9% |
| Recurring financial charges | 65 | €185,212 | €170,626 | -€14,586 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€78,742 | -€72,905 | +€5,837 | +7.4% |
| Income taxes | 67/77 | €11,924 | -€12,000 | -€23,924 | |
| Profit (loss) for the period | 9904 | -€90,665 | -€60,905 | +€29,760 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,665 | -€60,905 | +€29,760 | +32.8% |
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 26 October 2026 via checked.be.