PHARINEX: 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.
PHARINEX
Largest movements
- Deferred charges and accrued income -€1,961
down €1,961 (-66.7%), from €2,942 to €981
- Tangible fixed assets +€1,865
up €1,865 (+29.9%), from €6,245 to €8,110
of which Furniture and vehicles: +€3,123
- Receivables within one year +€1,782
up €1,782 (+130%), from €1,367 to €3,149
of which Trade receivables: +€3,111
- Stocks and contracts -€966
down €966 (-2.1%), from €45,587 to €44,621
- Intangible fixed assets -€684
down €684 (-50.0%), from €1,368 to €684
- Other debts +€5,330
up €5,330 (+9.3%), from €57,383 to €62,714
- Trade debts -€5,125
down €5,125 (-29.9%), from €17,123 to €11,998
- Accrued charges and deferred income +€2,974
up €2,974 (+60.7%), from €4,902 to €7,876
- Short-term financial debts -€1,156
down €1,156 (-1.3%), from €89,456 to €88,300
- Tax, wage and social debts -€918
down €918 (-76.4%), from €1,202 to €284
- Gross operating margin +€26,253
up €26,253, from -€8,126 to €18,126
- Other operating charges -€6,755
down €6,755 (-71.2%), from €9,486 to €2,731
- Depreciation +€596
up €596 (+29.2%), from €2,039 to €2,634
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 | €59,396 | €59,782 | +€385 | +0.6% |
| Fixed assets | 21/28 | €7,613 | €8,794 | +€1,181 | +15.5% |
| Intangible fixed assets | 21 | €1,368 | €684 | -€684 | -50.0% |
| Tangible fixed assets | 22/27 | €6,245 | €8,110 | +€1,865 | +29.9% |
| Plant, machinery and equipment | 23 | €6,052 | €4,794 | -€1,258 | -20.8% |
| Furniture and vehicles | 24 | €193 | €3,316 | +€3,123 | +1,619% |
| Current assets | 29/58 | €51,783 | €50,987 | -€796 | -1.5% |
| Stocks and contracts in progress | 3 | €45,587 | €44,621 | -€966 | -2.1% |
| Stocks | 30/36 | €45,587 | €44,621 | -€966 | -2.1% |
| Amounts receivable within one year | 40/41 | €1,367 | €3,149 | +€1,782 | +130% |
| Trade receivables | 40 | €38 | €3,149 | +€3,111 | +8,222% |
| Other amounts receivable | 41 | €1,329 | - | -€1,329 | |
| Cash at bank and in hand | 54/58 | €1,887 | €2,236 | +€349 | +18.5% |
| Deferred charges and accrued income | 490/1 | €2,942 | €981 | -€1,961 | -66.7% |
| Total equity and liabilities | 10/49 | €59,396 | €59,782 | +€385 | +0.6% |
| Equity | 10/15 | -€210,670 | -€211,390 | -€720 | -0.3% |
| Contributions | 10/11 | €4,060,000 | €4,060,000 | = | 0.0% |
| Reserves | 13 | €34,501 | €34,501 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,725 | €1,725 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,725 | €1,725 | = | 0.0% |
| Distributable reserves | 133 | €32,776 | €32,776 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,305,171 | -€4,305,891 | -€720 | 0.0% |
| Amounts payable | 17/49 | €270,067 | €271,172 | +€1,105 | +0.4% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,165 | €163,296 | -€1,869 | -1.1% |
| Financial debts | 43 | €89,456 | €88,300 | -€1,156 | -1.3% |
| Credit institutions | 430/8 | €89,456 | €88,300 | -€1,156 | -1.3% |
| Trade debts | 44 | €17,123 | €11,998 | -€5,125 | -29.9% |
| Suppliers | 440/4 | €17,123 | €11,998 | -€5,125 | -29.9% |
| Taxes, remuneration and social security | 45 | €1,202 | €284 | -€918 | -76.4% |
| Taxes | 450/3 | €1,202 | €284 | -€918 | -76.4% |
| Other amounts payable | 47/48 | €57,383 | €62,714 | +€5,330 | +9.3% |
| Accrued charges and deferred income | 492/3 | €4,902 | €7,876 | +€2,974 | +60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,039 | €2,634 | +€596 | +29.2% |
| Other operating charges | 640/8 | €9,486 | €2,731 | -€6,755 | -71.2% |
| Non-recurring operating charges | 66A | €130,000 | - | -€130,000 | |
| Gross operating margin | 9900 | -€8,126 | €18,126 | +€26,253 | |
| Operating profit (loss) | 9901 | -€149,651 | €12,761 | +€162,412 | |
| Financial income | 75/76B | €6 | €81 | +€74 | +1,153% |
| Recurring financial income | 75 | €6 | €81 | +€74 | +1,153% |
| Financial charges | 65/66B | €13,530 | €13,562 | +€31 | +0.2% |
| Recurring financial charges | 65 | €13,530 | €13,562 | +€31 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€163,175 | -€720 | +€162,455 | +99.6% |
| Profit (loss) for the period | 9904 | -€163,175 | -€720 | +€162,455 | +99.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€163,175 | -€720 | +€162,455 | +99.6% |
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 18 October 2026 via checked.be.