Pfizer: 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.
What changed
Pfizer
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.7m
2024 · €23.2m-€19.5m
Equity
-
not filed
Cash
€23.9m
2024 · €21.3m+€2.6m
Balance sheet total
€377.4m
2024 · €474.6m-€97.3m
Largest movements
Assets
- Current investments -€87.0m
down €87.0m (-100.0%), from €87.1m to €18,311
- Stocks and contracts -€12.9m
down €12.9m (-6.9%), from €188.0m to €175.1m
Equity and liabilities
- Total equity and liabilities -€97.3m
down €97.3m (-20.5%), from €474.6m to €377.4m
Income statement
- Goods and materials +€52.5m
up €52.5m (+23.7%), from €222.0m to €274.6m
- Staff costs -€22.5m
down €22.5m (-29.4%), from €76.4m to €53.9m
- Turnover +€21.9m
up €21.9m (+6.5%), from €336.5m to €358.3m
- Provisions +€20.7m
up €20.7m, from -€2.3m to €18.4m
- Write-downs -€10.2m
down €10.2m, from €5.8m to -€4.4m
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
€23.2m
Turnover
+€21.9m
Other operating income
-€334,988
Goods and materials
-€52.5m
Services and other goods
+€2.2m
Staff costs
+€22.5m
Depreciation
+€35,158
Write-downs
+€10.2m
Provisions
-€20.7m
Other operating charges
-€4.3m
Other operating items
+€1
Financial income
-€22,020
Financial charges
+€1.2m
Other financial items
+€1
Taxes
+€331,297
Result 2025
€3.7m
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.
From operations
-€78.5m
Investment
+€84.7m
Financing
-€3.7m
Cash 2024
€21.3m
From operations (derived)
-€78.5m
Net result for the year
+€3.7m
Depreciation
+€1.0m
Stocks and contracts
+€12.9m
Receivables within one year
-€409,016
Deferred charges and accrued income
+€1.6m
Total equity and liabilities
-€97.3m
Investment (derived)
+€84.7m
Investment in fixed assets (net)
-€2.3m
Current investments
+€87.0m
Financing
-€3.7m
Contributions, distributions and other
-€3.7m
Not broken down
+€1
Cash 2025
€23.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €474,644,257 | €377,361,773 | -€97.3m | -20.5% |
| Fixed assets | 21/28 | €10,135,784 | €11,442,695 | +€1.3m | +12.9% |
| Tangible fixed assets | 22/27 | €5,077,880 | €6,370,541 | +€1.3m | +25.5% |
| Plant, machinery and equipment | 23 | €524,967 | €402,022 | -€122,945 | -23.4% |
| Furniture and vehicles | 24 | €924,462 | €695,213 | -€229,249 | -24.8% |
| Other tangible fixed assets | 26 | €3,541,173 | €2,988,381 | -€552,792 | -15.6% |
| Assets under construction and advance payments | 27 | €87,279 | €2,284,925 | +€2.2m | +2518.0% |
| Financial fixed assets | 28 | €5,057,904 | €5,072,154 | +€14,250 | +0.3% |
| Affiliated companies | 280/1 | €4,249,448 | €4,249,448 | = | 0.0% |
| Participating interests | 280 | €4,249,448 | €4,249,448 | = | 0.0% |
| Other financial fixed assets | 284/8 | €808,456 | €822,706 | +€14,250 | +1.8% |
| Amounts receivable and cash guarantees | 285/8 | €808,456 | €822,706 | +€14,250 | +1.8% |
| Current assets | 29/58 | €464,508,473 | €365,919,078 | -€98.6m | -21.2% |
| Stocks and contracts in progress | 3 | €188,003,639 | €175,075,111 | -€12.9m | -6.9% |
| Stocks | 30/36 | €188,003,639 | €175,075,111 | -€12.9m | -6.9% |
| Goods purchased for resale | 34 | €188,003,639 | €175,075,111 | -€12.9m | -6.9% |
| Amounts receivable within one year | 40/41 | €165,605,830 | €166,014,846 | +€409,016 | +0.2% |
| Trade receivables | 40 | €161,017,630 | €123,686,819 | -€37.3m | -23.2% |
| Other amounts receivable | 41 | €4,588,200 | €42,328,027 | +€37.7m | +822.5% |
| Current investments | 50/53 | €87,054,845 | €18,311 | -€87.0m | -100.0% |
| Other investments | 51/53 | €87,054,845 | €18,311 | -€87.0m | -100.0% |
| Cash at bank and in hand | 54/58 | €21,329,869 | €23,901,556 | +€2.6m | +12.1% |
| Deferred charges and accrued income | 490/1 | €2,514,288 | €909,253 | -€1.6m | -63.8% |
| Total equity and liabilities | 10/49 | €474,644,257 | €377,361,773 | -€97.3m | -20.5% |
| Contributions | 10/11 | €40,805,900 | €40,805,900 | = | 0.0% |
| Capital | 10 | €39,688,620 | €39,688,620 | = | 0.0% |
| Issued capital | 100 | €39,688,620 | €39,688,620 | = | 0.0% |
| Outside capital | 11 | €1,117,279 | €1,117,279 | = | 0.0% |
| Share premium | 1100/10 | €1,117,279 | €1,117,279 | = | 0.0% |
| Reserves | 13 | €8,011,600 | €8,011,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,992,113 | €3,992,113 | = | 0.0% |
| Legal reserve | 130 | €3,968,862 | €3,968,862 | = | 0.0% |
| Other | 1319 | €23,251 | €23,251 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,004,579 | €4,004,579 | = | 0.0% |
| Distributable reserves | 133 | €14,909 | €14,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,697,859 | €81,365,725 | +€3.7m | +4.7% |
| Provisions for liabilities and charges | 160/5 | €2,105,153 | €20,539,736 | +€18.4m | +875.7% |
| Other liabilities and charges | 164/5 | €2,105,153 | €20,539,736 | +€18.4m | +875.7% |
| Amounts payable | 17/49 | €346,023,745 | €226,638,812 | -€119.4m | -34.5% |
| Amounts payable within one year | 42/48 | €338,358,653 | €224,697,053 | -€113.7m | -33.6% |
| Financial debts | 43 | €24,443 | €162,871,701 | +€162.8m | +666232.7% |
| Credit institutions | 430/8 | €24,443 | €827,285 | +€802,842 | +3284.5% |
| Other loans | 439 | - | €162,044,416 | +€162.0m | |
| Trade debts | 44 | €75,881,705 | €34,047,755 | -€41.8m | -55.1% |
| Suppliers | 440/4 | €75,881,705 | €34,047,755 | -€41.8m | -55.1% |
| Taxes, remuneration and social security | 45 | €255,586,781 | €23,317,906 | -€232.3m | -90.9% |
| Taxes | 450/3 | €237,597,285 | €7,006,266 | -€230.6m | -97.1% |
| Remuneration and social security | 454/9 | €17,989,496 | €16,311,640 | -€1.7m | -9.3% |
| Other amounts payable | 47/48 | €6,865,723 | €4,459,691 | -€2.4m | -35.0% |
| Accrued charges and deferred income | 492/3 | €7,665,092 | €1,941,759 | -€5.7m | -74.7% |
| Operating income | 70/76A | €392,553,644 | €414,107,352 | +€21.6m | +5.5% |
| Turnover | 70 | €336,454,388 | €358,343,084 | +€21.9m | +6.5% |
| Other operating income | 74 | €56,099,255 | €55,764,267 | -€334,988 | -0.6% |
| Operating charges | 60/66A | €356,345,356 | €398,963,263 | +€42.6m | +12.0% |
| Goods for resale, raw materials and consumables | 60 | €222,042,043 | €274,585,592 | +€52.5m | +23.7% |
| Change in stocks: decrease (increase) | 609 | -€23,717,137 | €17,339,597 | +€41.1m | |
| Services and other goods | 61 | €36,858,019 | €34,652,643 | -€2.2m | -6.0% |
| Remuneration, social security and pensions | 62 | €76,389,783 | €53,918,309 | -€22.5m | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,043,901 | €1,008,743 | -€35,158 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,790,669 | -€4,411,084 | -€10.2m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,257,386 | €18,434,583 | +€20.7m | |
| Other operating charges | 640/8 | €16,478,326 | €20,774,478 | +€4.3m | +26.1% |
| Operating profit (loss) | 9901 | €36,208,288 | €15,144,088 | -€21.1m | -58.2% |
| Recurring financial income | 75 | €1,330,940 | €1,308,920 | -€22,020 | -1.7% |
| Income from current assets | 751 | €1,078,626 | €744,694 | -€333,932 | -31.0% |
| Other financial income | 752/9 | €252,313 | €564,226 | +€311,913 | +123.6% |
| Financial charges | 65/66B | €4,902,350 | €3,657,657 | -€1.2m | -25.4% |
| Recurring financial charges | 65 | €4,902,350 | €3,657,657 | -€1.2m | -25.4% |
| Debt charges | 650 | €4,339,114 | €2,849,657 | -€1.5m | -34.3% |
| Other financial charges | 652/9 | €563,236 | €808,000 | +€244,764 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €32,636,877 | €12,795,351 | -€19.8m | -60.8% |
| Income taxes | 67/77 | €9,458,783 | €9,127,486 | -€331,297 | -3.5% |
| Taxes | 670/3 | €9,458,783 | €9,127,486 | -€331,297 | -3.5% |
| Profit (loss) for the period | 9904 | €23,178,095 | €3,667,866 | -€19.5m | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,178,095 | €3,667,866 | -€19.5m | -84.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.