PHARINVEST: 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.
PHARINVEST
Largest movements
- Tangible fixed assets -€11,839
down €11,839 (-9.6%), from €123,911 to €112,072
of which Land and buildings: -€7,437
- Profit (loss) carried forward -€10,815
down €10,815 (-6.2%), from -€173,889 to -€184,703
- Other debts -€3,818
down €3,818 (-2.8%), from €135,945 to €132,128
- Accrued charges and deferred income +€3,000
new in 2025: €3,000
- Gross operating margin +€1,093
up €1,093 (+36.0%), from €3,036 to €4,129
- Depreciation -€227
down €227 (-3.1%), from €7,310 to €7,084
- Other operating charges +€121
up €121 (+6.5%), from €1,878 to €1,999
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 | €124,566 | €112,833 | -€11,732 | -9.4% |
| Fixed assets | 21/28 | €123,911 | €112,072 | -€11,839 | -9.6% |
| Tangible fixed assets | 22/27 | €123,911 | €112,072 | -€11,839 | -9.6% |
| Land and buildings | 22 | €101,945 | €94,508 | -€7,437 | -7.3% |
| Plant, machinery and equipment | 23 | €21,769 | €17,564 | -€4,205 | -19.3% |
| Furniture and vehicles | 24 | €197 | €0 | -€197 | -100.0% |
| Current assets | 29/58 | €655 | €762 | +€106 | +16.3% |
| Amounts receivable within one year | 40/41 | €520 | - | -€520 | |
| Trade receivables | 40 | €520 | - | -€520 | |
| Cash at bank and in hand | 54/58 | €135 | €762 | +€626 | +463.9% |
| Total equity and liabilities | 10/49 | €124,566 | €112,833 | -€11,732 | -9.4% |
| Equity | 10/15 | -€11,480 | -€22,294 | -€10,815 | -94.2% |
| Contributions | 10/11 | €96,091 | €96,091 | = | 0.0% |
| Revaluation surpluses | 12 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €318 | €318 | = | 0.0% |
| Distributable reserves | 133 | €318 | €318 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,889 | -€184,703 | -€10,815 | -6.2% |
| Amounts payable | 17/49 | €136,045 | €135,128 | -€918 | -0.7% |
| Amounts payable within one year | 42/48 | €136,045 | €132,128 | -€3,918 | -2.9% |
| Taxes, remuneration and social security | 45 | €100 | - | -€100 | |
| Remuneration and social security | 454/9 | €100 | - | -€100 | |
| Other amounts payable | 47/48 | €135,945 | €132,128 | -€3,818 | -2.8% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,310 | €7,084 | -€227 | -3.1% |
| Other operating charges | 640/8 | €1,878 | €1,999 | +€121 | +6.5% |
| Gross operating margin | 9900 | €3,036 | €4,129 | +€1,093 | +36.0% |
| Operating profit (loss) | 9901 | -€6,152 | -€4,954 | +€1,198 | +19.5% |
| Financial charges | 65/66B | €140 | €143 | +€3 | +1.9% |
| Recurring financial charges | 65 | €140 | €143 | +€3 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,292 | -€5,097 | +€1,196 | +19.0% |
| Profit (loss) for the period | 9904 | -€6,292 | -€5,097 | +€1,196 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,292 | -€5,097 | +€1,196 | +19.0% |
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 4 October 2026 via checked.be.