PHARM-OZ: 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-OZ
Largest movements
- Receivables within one year +€146,861
up €146,861 (+101.8%), from €144,255 to €291,116
of which Trade receivables: +€92,865
- Tangible fixed assets -€53,546
down €53,546 (-28.8%), from €185,957 to €132,411
of which Furniture and vehicles: -€47,984
- Cash -€44,927
down €44,927 (-33.6%), from €133,765 to €88,838
mainly Receivables within one year (-€146,861) and Contributions, distributions and other (-€75,000)
- Stocks and contracts -€24,772
down €24,772 (-12.8%), from €193,342 to €168,569
- Trade debts +€59,163
up €59,163 (+51.0%), from €115,917 to €175,080
- Debts after one year -€19,089
down €19,089 (-31.7%), from €60,244 to €41,154
- Other debts -€17,382
down €17,382 (-18.5%), from €93,913 to €76,530
- Profit (loss) carried forward +€10,650
up €10,650 (+5.7%), from €187,715 to €198,365
- Tax, wage and social debts -€9,942
down €9,942 (-27.1%), from €36,717 to €26,776
of which Taxes: -€6,720
- Write-downs +€22,146
new in 2025: €22,146
- Taxes -€5,953
down €5,953 (-33.0%), from €18,018 to €12,064
- Gross operating margin -€5,522
down €5,522 (-1.7%), from €316,185 to €310,663
- Staff costs -€4,179
down €4,179 (-3.0%), from €138,322 to €134,144
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 | €659,034 | €681,585 | +€22,551 | +3.4% |
| Fixed assets | 21/28 | €185,957 | €132,411 | -€53,546 | -28.8% |
| Tangible fixed assets | 22/27 | €185,957 | €132,411 | -€53,546 | -28.8% |
| Land and buildings | 22 | €33,495 | €25,451 | -€8,044 | -24.0% |
| Plant, machinery and equipment | 23 | €75,709 | €78,190 | +€2,481 | +3.3% |
| Furniture and vehicles | 24 | €76,754 | €28,770 | -€47,984 | -62.5% |
| Current assets | 29/58 | €473,077 | €549,174 | +€76,097 | +16.1% |
| Stocks and contracts in progress | 3 | €193,342 | €168,569 | -€24,772 | -12.8% |
| Stocks | 30/36 | €193,342 | €168,569 | -€24,772 | -12.8% |
| Amounts receivable within one year | 40/41 | €144,255 | €291,116 | +€146,861 | +101.8% |
| Trade receivables | 40 | €98,855 | €191,720 | +€92,865 | +93.9% |
| Other amounts receivable | 41 | €45,400 | €99,396 | +€53,996 | +118.9% |
| Cash at bank and in hand | 54/58 | €133,765 | €88,838 | -€44,927 | -33.6% |
| Deferred charges and accrued income | 490/1 | €1,715 | €650 | -€1,064 | -62.1% |
| Total equity and liabilities | 10/49 | €659,034 | €681,585 | +€22,551 | +3.4% |
| Equity | 10/15 | €332,305 | €342,955 | +€10,650 | +3.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €83,090 | €83,090 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €76,940 | €76,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,715 | €198,365 | +€10,650 | +5.7% |
| Amounts payable | 17/49 | €326,729 | €338,630 | +€11,901 | +3.6% |
| Amounts payable after more than one year | 17 | €60,244 | €41,154 | -€19,089 | -31.7% |
| Financial debts | 170/4 | €60,244 | €41,154 | -€19,089 | -31.7% |
| Amounts payable within one year | 42/48 | €266,486 | €297,476 | +€30,990 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €19,939 | €19,089 | -€849 | -4.3% |
| Trade debts | 44 | €115,917 | €175,080 | +€59,163 | +51.0% |
| Suppliers | 440/4 | €115,917 | €175,080 | +€59,163 | +51.0% |
| Taxes, remuneration and social security | 45 | €36,717 | €26,776 | -€9,942 | -27.1% |
| Taxes | 450/3 | €8,719 | €1,999 | -€6,720 | -77.1% |
| Remuneration and social security | 454/9 | €27,998 | €24,776 | -€3,222 | -11.5% |
| Other amounts payable | 47/48 | €93,913 | €76,530 | -€17,382 | -18.5% |
| Non-recurring operating income | 76A | - | €50,000 | +€50,000 | |
| Remuneration, social security and pensions | 62 | €138,322 | €134,144 | -€4,179 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,652 | €28,847 | -€805 | -2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,146 | +€22,146 | |
| Other operating charges | 640/8 | €1,982 | €101 | -€1,881 | -94.9% |
| Non-recurring operating charges | 66A | €20,372 | €24,041 | +€3,669 | +18.0% |
| Gross operating margin | 9900 | €316,185 | €310,663 | -€5,522 | -1.7% |
| Operating profit (loss) | 9901 | €125,856 | €101,385 | -€24,471 | -19.4% |
| Financial income | 75/76B | €69 | €9 | -€59 | -86.3% |
| Recurring financial income | 75 | €69 | €9 | -€59 | -86.3% |
| Financial charges | 65/66B | €2,595 | €3,680 | +€1,086 | +41.8% |
| Recurring financial charges | 65 | €2,595 | €3,680 | +€1,086 | +41.8% |
| Profit (loss) for the period before taxes | 9903 | €123,330 | €97,714 | -€25,616 | -20.8% |
| Income taxes | 67/77 | €18,018 | €12,064 | -€5,953 | -33.0% |
| Profit (loss) for the period | 9904 | €105,313 | €85,650 | -€19,663 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €105,313 | €85,650 | -€19,663 | -18.7% |
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 3 October 2026 via checked.be.