PHARM-AD: 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.
PHARM-AD
Largest movements
- Cash -€61,789
down €61,789 (-15.2%), from €406,112 to €344,323
mainly Contributions, distributions and other (-€147,110) and Trade debts (-€33,569)
- Receivables within one year -€33,302
down €33,302 (-25.1%), from €132,503 to €99,201
of which Trade receivables: -€33,776
- Current investments +€11,891
up €11,891 (+6.2%), from €190,373 to €202,264
- Tangible fixed assets +€8,279
up €8,279 (+209.5%), from €3,951 to €12,229
of which Assets under construction and advance payments: +€8,677
- Trade debts -€33,569
down €33,569 (-100.0%), from €33,569 to €0
- Tax, wage and social debts -€32,588
down €32,588 (-44.7%), from €72,827 to €40,240
- Gross operating margin -€40,285
down €40,285 (-15.3%), from €262,607 to €222,322
- Taxes -€13,864
down €13,864 (-17.0%), from €81,411 to €67,547
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 | €732,939 | €659,306 | -€73,633 | -10.0% |
| Fixed assets | 21/28 | €3,951 | €12,229 | +€8,279 | +209.5% |
| Tangible fixed assets | 22/27 | €3,951 | €12,229 | +€8,279 | +209.5% |
| Land and buildings | 22 | €3,951 | €3,552 | -€399 | -10.1% |
| Assets under construction and advance payments | 27 | - | €8,677 | +€8,677 | |
| Current assets | 29/58 | €728,988 | €647,077 | -€81,911 | -11.2% |
| Amounts receivable within one year | 40/41 | €132,503 | €99,201 | -€33,302 | -25.1% |
| Trade receivables | 40 | €132,372 | €98,596 | -€33,776 | -25.5% |
| Other amounts receivable | 41 | €131 | €605 | +€475 | +363.1% |
| Current investments | 50/53 | €190,373 | €202,264 | +€11,891 | +6.2% |
| Cash at bank and in hand | 54/58 | €406,112 | €344,323 | -€61,789 | -15.2% |
| Deferred charges and accrued income | 490/1 | - | €1,289 | +€1,289 | |
| Total equity and liabilities | 10/49 | €732,939 | €659,306 | -€73,633 | -10.0% |
| Equity | 10/15 | €473,184 | €476,654 | +€3,470 | +0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €465,787 | €469,257 | +€3,470 | +0.7% |
| Distributable reserves | 133 | €465,787 | €469,257 | +€3,470 | +0.7% |
| Profit (loss) carried forward | 14 | €1,197 | €1,197 | = | 0.0% |
| Amounts payable | 17/49 | €259,755 | €182,653 | -€77,102 | -29.7% |
| Amounts payable within one year | 42/48 | €253,885 | €182,653 | -€71,232 | -28.1% |
| Trade debts | 44 | €33,569 | €0 | -€33,569 | -100.0% |
| Suppliers | 440/4 | €33,569 | €0 | -€33,569 | -100.0% |
| Taxes, remuneration and social security | 45 | €72,827 | €40,240 | -€32,588 | -44.7% |
| Taxes | 450/3 | €72,827 | €40,240 | -€32,588 | -44.7% |
| Other amounts payable | 47/48 | €147,489 | €142,413 | -€5,076 | -3.4% |
| Accrued charges and deferred income | 492/3 | €5,870 | €0 | -€5,870 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263 | €288 | +€25 | +9.5% |
| Other operating charges | 640/8 | €740 | €1,728 | +€988 | +133.5% |
| Gross operating margin | 9900 | €262,607 | €222,322 | -€40,285 | -15.3% |
| Operating profit (loss) | 9901 | €261,604 | €220,306 | -€41,298 | -15.8% |
| Financial income | 75/76B | €1,628 | €1,939 | +€312 | +19.2% |
| Recurring financial income | 75 | €1,628 | €1,939 | +€312 | +19.2% |
| Financial charges | 65/66B | €2,484 | €4,118 | +€1,635 | +65.8% |
| Recurring financial charges | 65 | €2,484 | €4,118 | +€1,635 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €260,747 | €218,127 | -€42,620 | -16.3% |
| Income taxes | 67/77 | €81,411 | €67,547 | -€13,864 | -17.0% |
| Profit (loss) for the period | 9904 | €179,337 | €150,580 | -€28,757 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,337 | €150,580 | -€28,757 | -16.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.