PEP PHARMA: 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.
PEP PHARMA
Largest movements
- Current investments +€55,900
up €55,900 (+14.2%), from €393,489 to €449,389
- Tangible fixed assets -€36,998
down €36,998 (-13.4%), from €276,068 to €239,070
of which Plant, machinery and equipment: -€31,291
- Cash +€27,382
up €27,382 (+7.5%), from €363,028 to €390,410
mainly Trade debts (+€337,311) and Net result for the year (+€216,694)
- Stocks and contracts +€17,220
up €17,220 (+14.0%), from €122,699 to €139,919
- Trade debts +€337,311
up €337,311 (+134.9%), from €249,988 to €587,299
- Other debts -€234,085
down €234,085 (-51.6%), from €453,246 to €219,161
- Current portion of long-term debt -€17,155
down €17,155 (-42.0%), from €40,805 to €23,649
- Gross operating margin -€288,548
down €288,548 (-46.9%), from €614,611 to €326,063
- Taxes -€11,055
down €11,055 (-69.3%), from €15,956 to €4,901
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 | €1,271,401 | €1,343,348 | +€71,948 | +5.7% |
| Fixed assets | 21/28 | €276,871 | €239,873 | -€36,998 | -13.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €276,068 | €239,070 | -€36,998 | -13.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €232,448 | €201,157 | -€31,291 | -13.5% |
| Furniture and vehicles | 24 | €43,621 | €37,914 | -€5,707 | -13.1% |
| Assets under construction and advance payments | 27 | €0 | €0 | = | |
| Financial fixed assets | 28 | €803 | €803 | = | 0.0% |
| Current assets | 29/58 | €994,529 | €1,103,475 | +€108,946 | +11.0% |
| Stocks and contracts in progress | 3 | €122,699 | €139,919 | +€17,220 | +14.0% |
| Stocks | 30/36 | €122,699 | €139,919 | +€17,220 | +14.0% |
| Amounts receivable within one year | 40/41 | €114,437 | €122,684 | +€8,247 | +7.2% |
| Trade receivables | 40 | €103,166 | €107,386 | +€4,220 | +4.1% |
| Other amounts receivable | 41 | €11,271 | €15,298 | +€4,027 | +35.7% |
| Current investments | 50/53 | €393,489 | €449,389 | +€55,900 | +14.2% |
| Cash at bank and in hand | 54/58 | €363,028 | €390,410 | +€27,382 | +7.5% |
| Deferred charges and accrued income | 490/1 | €876 | €1,074 | +€197 | +22.5% |
| Total equity and liabilities | 10/49 | €1,271,401 | €1,343,348 | +€71,948 | +5.7% |
| Equity | 10/15 | €481,678 | €488,371 | +€6,694 | +1.4% |
| Contributions | 10/11 | €254,000 | €254,000 | = | 0.0% |
| Reserves | 13 | €227,678 | €234,371 | +€6,694 | +2.9% |
| Non-distributable reserves | 130/1 | €11,000 | €11,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €216,678 | €223,371 | +€6,694 | +3.1% |
| Amounts payable | 17/49 | €789,723 | €854,977 | +€65,254 | +8.3% |
| Amounts payable after more than one year | 17 | €23,451 | €12,578 | -€10,873 | -46.4% |
| Financial debts | 170/4 | €23,451 | €12,578 | -€10,873 | -46.4% |
| Amounts payable within one year | 42/48 | €766,272 | €842,399 | +€76,127 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €40,805 | €23,649 | -€17,155 | -42.0% |
| Trade debts | 44 | €249,988 | €587,299 | +€337,311 | +134.9% |
| Suppliers | 440/4 | €249,988 | €587,299 | +€337,311 | +134.9% |
| Taxes, remuneration and social security | 45 | €22,233 | €12,289 | -€9,944 | -44.7% |
| Taxes | 450/3 | €14,627 | €5,273 | -€9,354 | -64.0% |
| Remuneration and social security | 454/9 | €7,606 | €7,016 | -€590 | -7.8% |
| Other amounts payable | 47/48 | €453,246 | €219,161 | -€234,085 | -51.6% |
| Remuneration, social security and pensions | 62 | €65,896 | €69,553 | +€3,658 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,851 | €38,623 | -€1,229 | -3.1% |
| Other operating charges | 640/8 | €57 | €870 | +€813 | +1433.8% |
| Gross operating margin | 9900 | €614,611 | €326,063 | -€288,548 | -46.9% |
| Operating profit (loss) | 9901 | €508,807 | €217,017 | -€291,790 | -57.3% |
| Financial income | 75/76B | €2,081 | €7,017 | +€4,936 | +237.3% |
| Recurring financial income | 75 | €2,081 | €7,017 | +€4,936 | +237.3% |
| Financial charges | 65/66B | €3,360 | €2,439 | -€921 | -27.4% |
| Recurring financial charges | 65 | €3,360 | €2,439 | -€921 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €507,528 | €221,595 | -€285,933 | -56.3% |
| Income taxes | 67/77 | €15,956 | €4,901 | -€11,055 | -69.3% |
| Profit (loss) for the period | 9904 | €491,572 | €216,694 | -€274,878 | -55.9% |
| Profit (loss) for the period to be appropriated | 9905 | €491,572 | €216,694 | -€274,878 | -55.9% |
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 6 October 2026 via checked.be.