PGL 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.
PGL PHARMA
Largest movements
- Receivables within one year +€32,322
up €32,322 (+4002.7%), from €808 to €33,130
of which Trade receivables: +€32,418
- Cash -€17,077
down €17,077 (-74.1%), from €23,033 to €5,956
mainly Debts after one year (-€65,000) and Receivables within one year (-€32,322)
- Deferred charges and accrued income -€15,298
no longer reported in 2025 (was €15,298)
- Reserves +€180,000
new in 2025: €180,000
- Profit (loss) carried forward -€132,628
down €132,628 (-99.0%), from €133,960 to €1,332
- Debts after one year -€65,000
down €65,000 (-16.0%), from €406,250 to €341,250
- Other debts +€50,350
up €50,350 (+18.5%), from €272,795 to €323,145
- Tax, wage and social debts -€22,329
down €22,329 (-75.3%), from €29,643 to €7,314
- Financial charges -€432,469
down €432,469 (-98.7%), from €438,117 to €5,648
of which Non-recurring financial charges: -€399,713
- Financial income -€177,400
no longer reported in 2025 (was €177,400)
- Gross operating margin -€13,831
down €13,831 (-16.6%), from €83,165 to €69,333
- Taxes +€5,076
up €5,076 (+45.2%), from €11,238 to €16,314
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 | €961,410 | €970,357 | +€8,947 | +0.9% |
| Fixed assets | 21/28 | €922,271 | €931,271 | +€9,000 | +1.0% |
| Financial fixed assets | 28 | €922,271 | €931,271 | +€9,000 | +1.0% |
| Current assets | 29/58 | €39,138 | €39,085 | -€53 | -0.1% |
| Amounts receivable within one year | 40/41 | €808 | €33,130 | +€32,322 | +4002.7% |
| Trade receivables | 40 | €307 | €32,725 | +€32,418 | +10557.9% |
| Other amounts receivable | 41 | €500 | €405 | -€96 | -19.1% |
| Cash at bank and in hand | 54/58 | €23,033 | €5,956 | -€17,077 | -74.1% |
| Deferred charges and accrued income | 490/1 | €15,298 | - | -€15,298 | |
| Total equity and liabilities | 10/49 | €961,410 | €970,357 | +€8,947 | +0.9% |
| Equity | 10/15 | €178,960 | €226,332 | +€47,372 | +26.5% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | - | €180,000 | +€180,000 | |
| Distributable reserves | 133 | - | €180,000 | +€180,000 | |
| Profit (loss) carried forward | 14 | €133,960 | €1,332 | -€132,628 | -99.0% |
| Amounts payable | 17/49 | €782,449 | €744,025 | -€38,425 | -4.9% |
| Amounts payable after more than one year | 17 | €406,250 | €341,250 | -€65,000 | -16.0% |
| Financial debts | 170/4 | €406,250 | €341,250 | -€65,000 | -16.0% |
| Amounts payable within one year | 42/48 | €375,715 | €402,363 | +€26,648 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €70,417 | €70,417 | = | 0.0% |
| Trade debts | 44 | €2,860 | €1,487 | -€1,373 | -48.0% |
| Suppliers | 440/4 | €2,860 | €1,487 | -€1,373 | -48.0% |
| Taxes, remuneration and social security | 45 | €29,643 | €7,314 | -€22,329 | -75.3% |
| Taxes | 450/3 | €29,643 | €7,314 | -€22,329 | -75.3% |
| Other amounts payable | 47/48 | €272,795 | €323,145 | +€50,350 | +18.5% |
| Accrued charges and deferred income | 492/3 | €485 | €412 | -€73 | -15.1% |
| Gross operating margin | 9900 | €83,165 | €69,333 | -€13,831 | -16.6% |
| Operating profit (loss) | 9901 | €83,165 | €69,333 | -€13,831 | -16.6% |
| Financial income | 75/76B | €177,400 | - | -€177,400 | |
| Recurring financial income | 75 | €177,400 | - | -€177,400 | |
| Financial charges | 65/66B | €438,117 | €5,648 | -€432,469 | -98.7% |
| Recurring financial charges | 65 | €38,215 | €5,459 | -€32,756 | -85.7% |
| Non-recurring financial charges | 66B | €399,902 | €189 | -€399,713 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€177,552 | €63,686 | +€241,238 | |
| Income taxes | 67/77 | €11,238 | €16,314 | +€5,076 | +45.2% |
| Profit (loss) for the period | 9904 | -€188,790 | €47,372 | +€236,161 | |
| Profit (loss) for the period to be appropriated | 9905 | -€188,790 | €47,372 | +€236,161 |
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 11 October 2026 via checked.be.