PHARMA & FLO: 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 & FLO
Largest movements
- Cash -€93,443
down €93,443 (-22.1%), from €423,605 to €330,162
mainly Contributions, distributions and other (-€214,908) and Debts after one year (-€88,447)
- Receivables within one year +€32,809
up €32,809 (+4.5%), from €730,469 to €763,278
of which Trade receivables: +€64,995
- Stocks and contracts +€30,282
up €30,282 (+7.9%), from €383,533 to €413,814
- Debts after one year -€88,447
down €88,447 (-66.5%), from €133,005 to €44,558
- Trade debts +€41,277
up €41,277 (+19.9%), from €207,262 to €248,540
- Reserves +€36,625
up €36,625 (+2.7%), from €1.4m to €1.4m
of which Distributable reserves: +€38,500
- Staff costs +€46,380
up €46,380 (+10.4%), from €444,996 to €491,377
- Taxes -€23,794
down €23,794 (-22.8%), from €104,132 to €80,338
- Financial income -€19,542
down €19,542 (-16.2%), from €120,636 to €101,094
- Gross operating margin -€15,228
down €15,228 (-2.0%), from €762,089 to €746,861
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 | €2,603,962 | €2,570,385 | -€33,577 | -1.3% |
| Fixed assets | 21/28 | €1,057,233 | €1,053,679 | -€3,554 | -0.3% |
| Tangible fixed assets | 22/27 | €15,533 | €11,979 | -€3,554 | -22.9% |
| Plant, machinery and equipment | 23 | €7,351 | €5,157 | -€2,194 | -29.9% |
| Furniture and vehicles | 24 | - | €776 | +€776 | |
| Other tangible fixed assets | 26 | €8,182 | €6,047 | -€2,135 | -26.1% |
| Financial fixed assets | 28 | €1,041,700 | €1,041,700 | = | 0.0% |
| Current assets | 29/58 | €1,546,729 | €1,516,706 | -€30,023 | -1.9% |
| Stocks and contracts in progress | 3 | €383,533 | €413,814 | +€30,282 | +7.9% |
| Stocks | 30/36 | €383,533 | €413,814 | +€30,282 | +7.9% |
| Amounts receivable within one year | 40/41 | €730,469 | €763,278 | +€32,809 | +4.5% |
| Trade receivables | 40 | €197,934 | €262,929 | +€64,995 | +32.8% |
| Other amounts receivable | 41 | €532,535 | €500,349 | -€32,186 | -6.0% |
| Cash at bank and in hand | 54/58 | €423,605 | €330,162 | -€93,443 | -22.1% |
| Deferred charges and accrued income | 490/1 | €9,122 | €9,451 | +€329 | +3.6% |
| Total equity and liabilities | 10/49 | €2,603,962 | €2,570,385 | -€33,577 | -1.3% |
| Equity | 10/15 | €1,450,012 | €1,489,186 | +€39,174 | +2.7% |
| Contributions | 10/11 | €18,750 | €20,625 | +€1,875 | +10.0% |
| Reserves | 13 | €1,369,375 | €1,406,000 | +€36,625 | +2.7% |
| Non-distributable reserves | 130/1 | €1,875 | - | -€1,875 | |
| Reserves not available under the articles | 1311 | €1,875 | - | -€1,875 | |
| Distributable reserves | 133 | €1,367,500 | €1,406,000 | +€38,500 | +2.8% |
| Profit (loss) carried forward | 14 | €61,887 | €62,561 | +€674 | +1.1% |
| Amounts payable | 17/49 | €1,153,949 | €1,081,199 | -€72,751 | -6.3% |
| Amounts payable after more than one year | 17 | €133,005 | €44,558 | -€88,447 | -66.5% |
| Financial debts | 170/4 | €133,005 | €44,558 | -€88,447 | -66.5% |
| Amounts payable within one year | 42/48 | €1,020,944 | €1,036,641 | +€15,697 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €87,564 | €88,447 | +€884 | +1.0% |
| Trade debts | 44 | €207,262 | €248,540 | +€41,277 | +19.9% |
| Suppliers | 440/4 | €207,262 | €248,540 | +€41,277 | +19.9% |
| Taxes, remuneration and social security | 45 | €159,545 | €138,513 | -€21,033 | -13.2% |
| Taxes | 450/3 | €104,157 | €85,655 | -€18,502 | -17.8% |
| Remuneration and social security | 454/9 | €55,388 | €52,858 | -€2,530 | -4.6% |
| Other amounts payable | 47/48 | €566,572 | €561,140 | -€5,432 | -1.0% |
| Remuneration, social security and pensions | 62 | €444,996 | €491,377 | +€46,380 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,790 | €5,975 | +€185 | +3.2% |
| Other operating charges | 640/8 | €6,647 | €11,191 | +€4,545 | +68.4% |
| Gross operating margin | 9900 | €762,089 | €746,861 | -€15,228 | -2.0% |
| Operating profit (loss) | 9901 | €304,656 | €238,318 | -€66,338 | -21.8% |
| Financial income | 75/76B | €120,636 | €101,094 | -€19,542 | -16.2% |
| Recurring financial income | 75 | €120,636 | €101,094 | -€19,542 | -16.2% |
| Financial charges | 65/66B | €6,019 | €4,992 | -€1,027 | -17.1% |
| Recurring financial charges | 65 | €6,019 | €4,992 | -€1,027 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €419,272 | €334,420 | -€84,852 | -20.2% |
| Income taxes | 67/77 | €104,132 | €80,338 | -€23,794 | -22.8% |
| Profit (loss) for the period | 9904 | €315,140 | €254,082 | -€61,058 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €315,140 | €254,082 | -€61,058 | -19.4% |
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.