PALISEUL PHARMA: 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.
PALISEUL PHARMA
Largest movements
- Cash +€134,848
up €134,848 (+30.1%), from €448,164 to €583,012
mainly Net result for the year (+€183,716) and Depreciation (+€155,624)
- Financial fixed assets -€118,896
down €118,896 (-46.1%), from €258,112 to €139,216
- Tangible fixed assets -€105,562
down €105,562 (-8.7%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€82,220
- Intangible fixed assets -€37,000
down €37,000 (-10.3%), from €358,273 to €321,273
- Trade debts -€160,993
down €160,993 (-36.7%), from €438,287 to €277,293
- Debts after one year -€106,353
down €106,353 (-8.3%), from €1.3m to €1.2m
- Profit (loss) carried forward +€73,716
up €73,716 (+8.9%), from €824,377 to €898,093
- Other debts +€65,963
up €65,963 (+149%), from €44,136 to €110,099
- Gross operating margin +€219,127
up €219,127 (+46.3%), from €472,789 to €691,915
- Depreciation +€113,042
up €113,042 (+265%), from €42,582 to €155,624
- Staff costs +€48,733
up €48,733 (+23.1%), from €210,773 to €259,507
- Financial charges +€30,409
up €30,409 (+174%), from €17,451 to €47,860
- Taxes +€19,962
up €19,962 (+89.1%), from €22,394 to €42,355
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,759,867 | €2,631,484 | -€128,383 | -4.7% |
| Fixed assets | 21/28 | €1,834,217 | €1,572,759 | -€261,458 | -14.3% |
| Intangible fixed assets | 21 | €358,273 | €321,273 | -€37,000 | -10.3% |
| Tangible fixed assets | 22/27 | €1,217,832 | €1,112,270 | -€105,562 | -8.7% |
| Land and buildings | 22 | €189,304 | €182,235 | -€7,069 | -3.7% |
| Plant, machinery and equipment | 23 | €879,108 | €796,888 | -€82,220 | -9.4% |
| Furniture and vehicles | 24 | €149,419 | €133,146 | -€16,273 | -10.9% |
| Financial fixed assets | 28 | €258,112 | €139,216 | -€118,896 | -46.1% |
| Current assets | 29/58 | €925,650 | €1,058,724 | +€133,075 | +14.4% |
| Stocks and contracts in progress | 3 | €294,574 | €306,625 | +€12,052 | +4.1% |
| Stocks | 30/36 | €294,574 | €306,625 | +€12,052 | +4.1% |
| Amounts receivable within one year | 40/41 | €177,445 | €160,170 | -€17,275 | -9.7% |
| Trade receivables | 40 | €149,658 | €159,470 | +€9,811 | +6.6% |
| Other amounts receivable | 41 | €27,786 | €700 | -€27,086 | -97.5% |
| Cash at bank and in hand | 54/58 | €448,164 | €583,012 | +€134,848 | +30.1% |
| Deferred charges and accrued income | 490/1 | €5,467 | €8,917 | +€3,450 | +63.1% |
| Total equity and liabilities | 10/49 | €2,759,867 | €2,631,484 | -€128,383 | -4.7% |
| Equity | 10/15 | €832,437 | €906,153 | +€73,716 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €824,377 | €898,093 | +€73,716 | +8.9% |
| Amounts payable | 17/49 | €1,927,430 | €1,725,330 | -€202,099 | -10.5% |
| Amounts payable after more than one year | 17 | €1,284,897 | €1,178,544 | -€106,353 | -8.3% |
| Financial debts | 170/4 | €1,284,897 | €1,178,544 | -€106,353 | -8.3% |
| Amounts payable within one year | 42/48 | €639,229 | €546,503 | -€92,726 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €104,295 | €107,612 | +€3,317 | +3.2% |
| Trade debts | 44 | €438,287 | €277,293 | -€160,993 | -36.7% |
| Suppliers | 440/4 | €438,287 | €277,293 | -€160,993 | -36.7% |
| Taxes, remuneration and social security | 45 | €52,512 | €51,499 | -€1,013 | -1.9% |
| Taxes | 450/3 | €17,714 | €14,314 | -€3,400 | -19.2% |
| Remuneration and social security | 454/9 | €34,798 | €37,185 | +€2,387 | +6.9% |
| Other amounts payable | 47/48 | €44,136 | €110,099 | +€65,963 | +149% |
| Accrued charges and deferred income | 492/3 | €3,304 | €283 | -€3,020 | -91.4% |
| Remuneration, social security and pensions | 62 | €210,773 | €259,507 | +€48,733 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,582 | €155,624 | +€113,042 | +265% |
| Other operating charges | 640/8 | €2,579 | €2,855 | +€276 | +10.7% |
| Non-recurring operating charges | 66A | €100 | - | -€100 | |
| Gross operating margin | 9900 | €472,789 | €691,915 | +€219,127 | +46.3% |
| Operating profit (loss) | 9901 | €216,754 | €273,929 | +€57,175 | +26.4% |
| Financial income | 75/76B | €3,292 | €2 | -€3,290 | -99.9% |
| Recurring financial income | 75 | €3,292 | €2 | -€3,290 | -99.9% |
| Financial charges | 65/66B | €17,451 | €47,860 | +€30,409 | +174% |
| Recurring financial charges | 65 | €17,451 | €47,860 | +€30,409 | +174% |
| Profit (loss) for the period before taxes | 9903 | €202,595 | €226,071 | +€23,476 | +11.6% |
| Income taxes | 67/77 | €22,394 | €42,355 | +€19,962 | +89.1% |
| Profit (loss) for the period | 9904 | €180,201 | €183,716 | +€3,515 | +2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €180,201 | €183,716 | +€3,515 | +2.0% |
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.