PHARMA GUILLAUME: what changed
Two financial 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 GUILLAUME
Largest movements
- Intangible fixed assets -€86,097
down €86,097 (-14.3%), from €602,680 to €516,583
- Tangible fixed assets -€50,136
down €50,136 (-3.7%), from €1.4m to €1.3m
of which Furniture and vehicles: -€30,010
- Receivables within one year +€33,257
up €33,257 (+21.7%), from €153,524 to €186,781
of which Other amounts receivable: +€49,995
- Debts after one year -€186,402
down €186,402 (-11.7%), from €1.6m to €1.4m
- Reserves +€80,331
up €80,331 (+65.4%), from €122,745 to €203,076
of which Distributable reserves: +€80,331
- Other debts -€69,153
down €69,153 (-20.7%), from €333,810 to €264,657
- Tax, wage and social debts +€56,951
up €56,951 (+99.1%), from €57,468 to €114,419
of which Taxes: +€48,384
- Gross operating margin -€37,107
down €37,107 (-7.2%), from €517,145 to €480,038
- Depreciation -€5,676
down €5,676 (-3.4%), from €169,293 to €163,617
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.
Derived cash bridge
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 | €2,485,117 | €2,351,539 | -€133,579 | -5.4% |
| Fixed assets | 21/28 | €1,959,114 | €1,822,881 | -€136,234 | -7.0% |
| Intangible fixed assets | 21 | €602,680 | €516,583 | -€86,097 | -14.3% |
| Tangible fixed assets | 22/27 | €1,356,434 | €1,306,298 | -€50,136 | -3.7% |
| Land and buildings | 22 | €1,171,566 | €1,154,434 | -€17,132 | -1.5% |
| Plant, machinery and equipment | 23 | €7,010 | €4,016 | -€2,994 | -42.7% |
| Furniture and vehicles | 24 | €177,859 | €147,848 | -€30,010 | -16.9% |
| Current assets | 29/58 | €526,003 | €528,658 | +€2,655 | +0.5% |
| Stocks and contracts in progress | 3 | €135,147 | €117,732 | -€17,415 | -12.9% |
| Stocks | 30/36 | €135,147 | €117,732 | -€17,415 | -12.9% |
| Amounts receivable within one year | 40/41 | €153,524 | €186,781 | +€33,257 | +21.7% |
| Trade receivables | 40 | €153,085 | €136,346 | -€16,739 | -10.9% |
| Other amounts receivable | 41 | €439 | €50,434 | +€49,995 | +11,385% |
| Cash at bank and in hand | 54/58 | €236,048 | €222,807 | -€13,241 | -5.6% |
| Deferred charges and accrued income | 490/1 | €1,284 | €1,338 | +€54 | +4.2% |
| Total equity and liabilities | 10/49 | €2,485,117 | €2,351,539 | -€133,579 | -5.4% |
| Equity | 10/15 | €141,345 | €221,676 | +€80,331 | +56.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,745 | €203,076 | +€80,331 | +65.4% |
| Non-distributable reserves | 130/1 | €120 | €120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €120 | €120 | = | 0.0% |
| Distributable reserves | 133 | €122,625 | €202,956 | +€80,331 | +65.5% |
| Amounts payable | 17/49 | €2,343,773 | €2,129,863 | -€213,910 | -9.1% |
| Amounts payable after more than one year | 17 | €1,594,035 | €1,407,633 | -€186,402 | -11.7% |
| Financial debts | 170/4 | €1,594,035 | €1,407,633 | -€186,402 | -11.7% |
| Amounts payable within one year | 42/48 | €747,910 | €722,229 | -€25,680 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €183,219 | €188,124 | +€4,905 | +2.7% |
| Trade debts | 44 | €173,412 | €155,030 | -€18,383 | -10.6% |
| Suppliers | 440/4 | €173,412 | €155,030 | -€18,383 | -10.6% |
| Taxes, remuneration and social security | 45 | €57,468 | €114,419 | +€56,951 | +99.1% |
| Taxes | 450/3 | €43,724 | €92,108 | +€48,384 | +111% |
| Remuneration and social security | 454/9 | €13,744 | €22,311 | +€8,567 | +62.3% |
| Other amounts payable | 47/48 | €333,810 | €264,657 | -€69,153 | -20.7% |
| Accrued charges and deferred income | 492/3 | €1,827 | - | -€1,827 | |
| Remuneration, social security and pensions | 62 | €128,860 | €130,847 | +€1,987 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,293 | €163,617 | -€5,676 | -3.4% |
| Other operating charges | 640/8 | €9,885 | €10,392 | +€508 | +5.1% |
| Non-recurring operating charges | 66A | €68 | - | -€68 | |
| Gross operating margin | 9900 | €517,145 | €480,038 | -€37,107 | -7.2% |
| Operating profit (loss) | 9901 | €209,040 | €175,182 | -€33,858 | -16.2% |
| Financial income | 75/76B | €645 | €287 | -€359 | -55.6% |
| Recurring financial income | 75 | €645 | €287 | -€359 | -55.6% |
| Financial charges | 65/66B | €36,441 | €32,938 | -€3,502 | -9.6% |
| Recurring financial charges | 65 | €36,441 | €32,938 | -€3,502 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €173,245 | €142,530 | -€30,714 | -17.7% |
| Income taxes | 67/77 | €66,989 | €62,199 | -€4,790 | -7.2% |
| Profit (loss) for the period | 9904 | €106,255 | €80,331 | -€25,924 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €106,255 | €80,331 | -€25,924 | -24.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.