PHARMA HOLD: 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 HOLD
Largest movements
- Cash -€11,899
down €11,899 (-37.3%), from €31,912 to €20,013
mainly Investment in fixed assets (net) (-€14,318) and Provisions (-€9,673)
- Reserves -€29,019
down €29,019 (-16.7%), from €174,257 to €145,239
of which Tax-exempt reserves: -€29,019
- Profit (loss) carried forward +€28,796
up €28,796 (+17.0%), from -€169,231 to -€140,435
- Provisions -€9,673
down €9,673 (-22.2%), from €43,561 to €33,888
- Other debts -€4,561
down €4,561 (-4.3%), from €104,911 to €100,350
- Depreciation +€1,016
up €1,016 (+6.1%), from €16,611 to €17,626
- Other operating charges +€221
up €221 (+9.4%), from €2,337 to €2,558
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 | €352,865 | €338,470 | -€14,394 | -4.1% |
| Fixed assets | 21/28 | €320,124 | €316,816 | -€3,308 | -1.0% |
| Tangible fixed assets | 22/27 | €320,124 | €316,816 | -€3,308 | -1.0% |
| Land and buildings | 22 | €301,569 | €288,396 | -€13,173 | -4.4% |
| Plant, machinery and equipment | 23 | €18,556 | €16,871 | -€1,685 | -9.1% |
| Furniture and vehicles | 24 | - | €11,550 | +€11,550 | |
| Current assets | 29/58 | €32,740 | €21,654 | -€11,086 | -33.9% |
| Cash at bank and in hand | 54/58 | €31,912 | €20,013 | -€11,899 | -37.3% |
| Deferred charges and accrued income | 490/1 | €828 | €1,642 | +€813 | +98.2% |
| Total equity and liabilities | 10/49 | €352,865 | €338,470 | -€14,394 | -4.1% |
| Equity | 10/15 | €142,446 | €142,224 | -€223 | -0.2% |
| Contributions | 10/11 | €137,420 | €137,420 | = | 0.0% |
| Capital | 10 | €137,420 | €137,420 | = | 0.0% |
| Issued capital | 100 | €137,420 | €137,420 | = | 0.0% |
| Reserves | 13 | €174,257 | €145,239 | -€29,019 | -16.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €130,677 | €101,658 | -€29,019 | -22.2% |
| Distributable reserves | 133 | €37,380 | €37,380 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,231 | -€140,435 | +€28,796 | +17.0% |
| Provisions and deferred taxes | 16 | €43,561 | €33,888 | -€9,673 | -22.2% |
| Deferred taxes | 168 | €43,561 | €33,888 | -€9,673 | -22.2% |
| Amounts payable | 17/49 | €166,857 | €162,359 | -€4,499 | -2.7% |
| Amounts payable after more than one year | 17 | €61,947 | €61,947 | = | 0.0% |
| Other amounts payable | 178/9 | €61,947 | €61,947 | = | 0.0% |
| Amounts payable within one year | 42/48 | €104,911 | €100,412 | -€4,499 | -4.3% |
| Taxes, remuneration and social security | 45 | - | €62 | +€62 | |
| Taxes | 450/3 | - | €62 | +€62 | |
| Other amounts payable | 47/48 | €104,911 | €100,350 | -€4,561 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,611 | €17,626 | +€1,016 | +6.1% |
| Other operating charges | 640/8 | €2,337 | €2,558 | +€221 | +9.4% |
| Gross operating margin | 9900 | €10,415 | €10,346 | -€69 | -0.7% |
| Operating profit (loss) | 9901 | -€8,533 | -€9,838 | -€1,305 | -15.3% |
| Financial income | 75/76B | €170 | €255 | +€85 | +50.4% |
| Recurring financial income | 75 | €170 | €255 | +€85 | +50.4% |
| Financial charges | 65/66B | €344 | €251 | -€93 | -27.1% |
| Recurring financial charges | 65 | €344 | €251 | -€93 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,708 | -€9,834 | -€1,126 | -12.9% |
| Transfer from deferred taxes | 780 | €1,813 | €9,673 | +€7,860 | +433.7% |
| Income taxes | 67/77 | - | €62 | +€62 | |
| Profit (loss) for the period | 9904 | -€6,895 | -€223 | +€6,672 | +96.8% |
| Transfer from tax-exempt reserves | 789 | €5,438 | €29,019 | +€23,581 | +433.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,457 | €28,796 | +€30,253 |
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 10 October 2026 via checked.be.