PHARMA HESBAYE: 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 HESBAYE
Largest movements
- Cash +€46,774
up €46,774 (+25.8%), from €181,287 to €228,062
mainly Net result for the year (+€111,467) and Depreciation (+€82,997)
- Stocks and contracts +€30,935
up €30,935 (+28.3%), from €109,300 to €140,235
- Tangible fixed assets +€24,089
up €24,089 (+3.7%), from €659,405 to €683,494
of which Plant, machinery and equipment: +€28,227
- Intangible fixed assets -€14,000
down €14,000 (-14.0%), from €100,274 to €86,274
- Reserves +€110,000
up €110,000 (+28.4%), from €387,000 to €497,000
- Trade debts +€40,472
up €40,472 (+50.5%), from €80,130 to €120,602
- Tax, wage and social debts -€29,854
down €29,854 (-35.5%), from €84,121 to €54,267
of which Taxes: -€34,558
- Debts after one year -€26,765
down €26,765 (-5.5%), from €488,828 to €462,063
- Depreciation +€50,925
up €50,925 (+159%), from €32,071 to €82,997
- Gross operating margin +€49,188
up €49,188 (+20.1%), from €244,303 to €293,491
- Staff costs +€13,692
up €13,692 (+40.7%), from €33,642 to €47,334
- Financial charges +€11,661
up €11,661 (+203%), from €5,745 to €17,406
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 | €1,178,418 | €1,267,439 | +€89,020 | +7.6% |
| Fixed assets | 21/28 | €761,180 | €769,769 | +€8,589 | +1.1% |
| Intangible fixed assets | 21 | €100,274 | €86,274 | -€14,000 | -14.0% |
| Tangible fixed assets | 22/27 | €659,405 | €683,494 | +€24,089 | +3.7% |
| Land and buildings | 22 | €115,957 | €110,997 | -€4,960 | -4.3% |
| Plant, machinery and equipment | 23 | €516,533 | €544,760 | +€28,227 | +5.5% |
| Furniture and vehicles | 24 | €26,116 | €27,737 | +€1,621 | +6.2% |
| Assets under construction and advance payments | 27 | €799 | - | -€799 | |
| Financial fixed assets | 28 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €417,239 | €497,670 | +€80,431 | +19.3% |
| Stocks and contracts in progress | 3 | €109,300 | €140,235 | +€30,935 | +28.3% |
| Stocks | 30/36 | €109,300 | €140,235 | +€30,935 | +28.3% |
| Amounts receivable within one year | 40/41 | €123,368 | €125,933 | +€2,565 | +2.1% |
| Trade receivables | 40 | €120,067 | €121,717 | +€1,650 | +1.4% |
| Other amounts receivable | 41 | €3,301 | €4,216 | +€915 | +27.7% |
| Cash at bank and in hand | 54/58 | €181,287 | €228,062 | +€46,774 | +25.8% |
| Deferred charges and accrued income | 490/1 | €3,283 | €3,440 | +€157 | +4.8% |
| Total equity and liabilities | 10/49 | €1,178,418 | €1,267,439 | +€89,020 | +7.6% |
| Equity | 10/15 | €447,614 | €557,416 | +€109,801 | +24.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €387,000 | €497,000 | +€110,000 | +28.4% |
| Distributable reserves | 133 | €387,000 | €497,000 | +€110,000 | +28.4% |
| Profit (loss) carried forward | 14 | €614 | €416 | -€199 | -32.3% |
| Amounts payable | 17/49 | €730,804 | €710,023 | -€20,781 | -2.8% |
| Amounts payable after more than one year | 17 | €488,828 | €462,063 | -€26,765 | -5.5% |
| Financial debts | 170/4 | €488,828 | €462,063 | -€26,765 | -5.5% |
| Amounts payable within one year | 42/48 | €241,942 | €247,941 | +€5,999 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €71,461 | €63,736 | -€7,724 | -10.8% |
| Trade debts | 44 | €80,130 | €120,602 | +€40,472 | +50.5% |
| Suppliers | 440/4 | €80,130 | €120,602 | +€40,472 | +50.5% |
| Taxes, remuneration and social security | 45 | €84,121 | €54,267 | -€29,854 | -35.5% |
| Taxes | 450/3 | €77,305 | €42,747 | -€34,558 | -44.7% |
| Remuneration and social security | 454/9 | €6,816 | €11,520 | +€4,704 | +69.0% |
| Other amounts payable | 47/48 | €6,230 | €9,336 | +€3,106 | +49.9% |
| Accrued charges and deferred income | 492/3 | €35 | €19 | -€16 | -45.0% |
| Remuneration, social security and pensions | 62 | €33,642 | €47,334 | +€13,692 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,071 | €82,997 | +€50,925 | +159% |
| Other operating charges | 640/8 | €3,219 | €3,272 | +€54 | +1.7% |
| Non-recurring operating charges | 66A | - | €753 | +€753 | |
| Gross operating margin | 9900 | €244,303 | €293,491 | +€49,188 | +20.1% |
| Operating profit (loss) | 9901 | €175,372 | €159,135 | -€16,237 | -9.3% |
| Financial income | 75/76B | €777 | €616 | -€161 | -20.7% |
| Recurring financial income | 75 | €777 | €616 | -€161 | -20.7% |
| Financial charges | 65/66B | €5,745 | €17,406 | +€11,661 | +203% |
| Recurring financial charges | 65 | €5,745 | €17,406 | +€11,661 | +203% |
| Profit (loss) for the period before taxes | 9903 | €170,404 | €142,346 | -€28,058 | -16.5% |
| Income taxes | 67/77 | €31,502 | €30,879 | -€623 | -2.0% |
| Profit (loss) for the period | 9904 | €138,902 | €111,467 | -€27,435 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €138,902 | €111,467 | -€27,435 | -19.8% |
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 23 October 2026 via checked.be.