PHARMA 5: 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.
PHARMA 5
Largest movements
- Stocks and contracts +€44,941
up €44,941 (+19.3%), from €232,464 to €277,405
- Receivables within one year +€5,737
up €5,737 (+20.5%), from €27,970 to €33,707
of which Trade receivables: +€5,814
- Trade debts -€102,356
down €102,356 (-25.3%), from €404,997 to €302,641
- Other debts +€73,414
up €73,414 (+8.6%), from €852,169 to €925,583
- Accrued charges and deferred income +€45,585
up €45,585 (+31.4%), from €145,185 to €190,770
- Profit (loss) carried forward +€24,381
up €24,381 (+2.1%), from -€1.2m to -€1.1m
- Tax, wage and social debts +€8,903
up €8,903 (+19.0%), from €46,927 to €55,830
of which Taxes: +€5,762
- Gross operating margin +€54,554
up €54,554 (+14.1%), from €386,513 to €441,067
- Staff costs +€19,547
up €19,547 (+5.7%), from €341,531 to €361,078
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 | €304,133 | €359,207 | +€55,074 | +18.1% |
| Fixed assets | 21/28 | €4,330 | €4,197 | -€133 | -3.1% |
| Tangible fixed assets | 22/27 | €2,502 | €2,370 | -€133 | -5.3% |
| Furniture and vehicles | 24 | €2,502 | €2,370 | -€133 | -5.3% |
| Financial fixed assets | 28 | €1,827 | €1,827 | = | 0.0% |
| Current assets | 29/58 | €299,804 | €355,010 | +€55,207 | +18.4% |
| Stocks and contracts in progress | 3 | €232,464 | €277,405 | +€44,941 | +19.3% |
| Stocks | 30/36 | €232,464 | €277,405 | +€44,941 | +19.3% |
| Amounts receivable within one year | 40/41 | €27,970 | €33,707 | +€5,737 | +20.5% |
| Trade receivables | 40 | €27,839 | €33,653 | +€5,814 | +20.9% |
| Other amounts receivable | 41 | €132 | €54 | -€77 | -58.7% |
| Cash at bank and in hand | 54/58 | €39,370 | €40,915 | +€1,545 | +3.9% |
| Deferred charges and accrued income | 490/1 | €0 | €2,983 | +€2,983 | |
| Total equity and liabilities | 10/49 | €304,133 | €359,207 | +€55,074 | +18.1% |
| Equity | 10/15 | -€1,148,643 | -€1,124,262 | +€24,381 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,167,243 | -€1,142,862 | +€24,381 | +2.1% |
| Amounts payable | 17/49 | €1,452,777 | €1,483,469 | +€30,693 | +2.1% |
| Amounts payable after more than one year | 17 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts payable | 178/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Amounts payable within one year | 42/48 | €1,304,092 | €1,292,700 | -€11,392 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | €8,646 | +€8,646 | |
| Trade debts | 44 | €404,997 | €302,641 | -€102,356 | -25.3% |
| Suppliers | 440/4 | €404,997 | €302,641 | -€102,356 | -25.3% |
| Taxes, remuneration and social security | 45 | €46,927 | €55,830 | +€8,903 | +19.0% |
| Taxes | 450/3 | €889 | €6,651 | +€5,762 | +648.1% |
| Remuneration and social security | 454/9 | €46,038 | €49,179 | +€3,141 | +6.8% |
| Other amounts payable | 47/48 | €852,169 | €925,583 | +€73,414 | +8.6% |
| Accrued charges and deferred income | 492/3 | €145,185 | €190,770 | +€45,585 | +31.4% |
| Non-recurring operating income | 76A | €4,607 | €526 | -€4,080 | -88.6% |
| Remuneration, social security and pensions | 62 | €341,531 | €361,078 | +€19,547 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133 | €133 | = | 0.0% |
| Other operating charges | 640/8 | €1,107 | €1,126 | +€18 | +1.7% |
| Non-recurring operating charges | 66A | €1,341 | €4,173 | +€2,832 | +211.1% |
| Gross operating margin | 9900 | €386,513 | €441,067 | +€54,554 | +14.1% |
| Operating profit (loss) | 9901 | €42,400 | €74,558 | +€32,157 | +75.8% |
| Financial income | 75/76B | €431 | €362 | -€69 | -16.0% |
| Recurring financial income | 75 | €431 | €362 | -€69 | -16.0% |
| Financial charges | 65/66B | €51,265 | €50,451 | -€814 | -1.6% |
| Recurring financial charges | 65 | €51,265 | €50,451 | -€814 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,433 | €24,470 | +€32,902 | |
| Income taxes | 67/77 | €65 | €88 | +€24 | +36.3% |
| Profit (loss) for the period | 9904 | -€8,498 | €24,381 | +€32,879 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,498 | €24,381 | +€32,879 |
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 6 October 2026 via checked.be.