PAVLORXMED: 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.
PAVLORXMED
Largest movements
- Receivables after one year -€181,243
no longer reported in 2025 (was €181,243)
- Cash +€153,961
up €153,961 (+87.3%), from €176,445 to €330,405
mainly Receivables after one year (+€181,243) and Net result for the year (+€137,539)
- Receivables within one year -€77,565
down €77,565 (-36.7%), from €211,225 to €133,659
of which Other amounts receivable: -€77,565
- Deferred charges and accrued income -€52,754
down €52,754 (-60.2%), from €87,593 to €34,838
- Reserves -€161,343
down €161,343 (-26.5%), from €608,587 to €447,244
- Tax, wage and social debts +€20,300
up €20,300 (+213%), from €9,516 to €29,816
- Trade debts -€15,583
down €15,583 (-77.1%), from €20,219 to €4,636
- Gross operating margin +€38,013
up €38,013 (+23.5%), from €161,721 to €199,734
- Taxes +€10,784
up €10,784 (+21.8%), from €49,516 to €60,300
- Financial income -€5,470
no longer reported in 2025 (was €5,470)
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 | €656,922 | €500,297 | -€156,626 | -23.8% |
| Fixed assets | 21/28 | €417 | €1,394 | +€977 | +234% |
| Tangible fixed assets | 22/27 | €417 | €1,394 | +€977 | +234% |
| Furniture and vehicles | 24 | €417 | €1,394 | +€977 | +234% |
| Current assets | 29/58 | €656,505 | €498,903 | -€157,602 | -24.0% |
| Amounts receivable after more than one year | 29 | €181,243 | - | -€181,243 | |
| Other amounts receivable | 291 | €181,243 | - | -€181,243 | |
| Amounts receivable within one year | 40/41 | €211,225 | €133,659 | -€77,565 | -36.7% |
| Trade receivables | 40 | €36,425 | €36,425 | = | 0.0% |
| Other amounts receivable | 41 | €174,799 | €97,234 | -€77,565 | -44.4% |
| Cash at bank and in hand | 54/58 | €176,445 | €330,405 | +€153,961 | +87.3% |
| Deferred charges and accrued income | 490/1 | €87,593 | €34,838 | -€52,754 | -60.2% |
| Total equity and liabilities | 10/49 | €656,922 | €500,297 | -€156,626 | -23.8% |
| Equity | 10/15 | €627,187 | €465,844 | -€161,343 | -25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €608,587 | €447,244 | -€161,343 | -26.5% |
| Distributable reserves | 133 | €608,587 | €447,244 | -€161,343 | -26.5% |
| Amounts payable | 17/49 | €29,735 | €34,452 | +€4,718 | +15.9% |
| Amounts payable within one year | 42/48 | €29,735 | €34,452 | +€4,718 | +15.9% |
| Trade debts | 44 | €20,219 | €4,636 | -€15,583 | -77.1% |
| Suppliers | 440/4 | €20,219 | €4,636 | -€15,583 | -77.1% |
| Taxes, remuneration and social security | 45 | €9,516 | €29,816 | +€20,300 | +213% |
| Taxes | 450/3 | €9,516 | €29,816 | +€20,300 | +213% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €881 | €422 | -€458 | -52.0% |
| Other operating charges | 640/8 | €1,141 | €1,266 | +€124 | +10.9% |
| Gross operating margin | 9900 | €161,721 | €199,734 | +€38,013 | +23.5% |
| Operating profit (loss) | 9901 | €159,699 | €198,046 | +€38,347 | +24.0% |
| Financial income | 75/76B | €5,470 | - | -€5,470 | |
| Recurring financial income | 75 | €5,470 | - | -€5,470 | |
| Financial charges | 65/66B | €239 | €207 | -€32 | -13.2% |
| Recurring financial charges | 65 | €239 | €207 | -€32 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €164,931 | €197,839 | +€32,908 | +20.0% |
| Income taxes | 67/77 | €49,516 | €60,300 | +€10,784 | +21.8% |
| Profit (loss) for the period | 9904 | €115,415 | €137,539 | +€22,124 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €115,415 | €137,539 | +€22,124 | +19.2% |
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 23 October 2026 via checked.be.