PHARMA INVEST: what changed
PHARMA INVEST
Largest movements
- Cash +€64,216
up €64,216 (+55.2%), from €116,343 to €180,559
mainly Trade debts (+€49,355) and Receivables within one year (+€24,104)
- Receivables within one year -€24,104
down €24,104 (-14.1%), from €171,240 to €147,136
of which Other amounts receivable: -€24,104
- Deferred charges and accrued income +€16,097
up €16,097 (+610%), from €2,639 to €18,736
- Tangible fixed assets -€12,504
down €12,504 (-2.6%), from €476,385 to €463,880
of which Land and buildings: -€11,474
- Trade debts +€49,355
up €49,355 (+149%), from €33,223 to €82,578
- Other debts -€30,000
down €30,000 (-78.4%), from €38,241 to €8,241
- Profit (loss) carried forward +€22,151
up €22,151 (+8.3%), from €267,918 to €290,069
- Gross operating margin -€61,411
down €61,411 (-59.7%), from €102,851 to €41,440
- Taxes -€14,806
down €14,806 (-66.6%), from €22,247 to €7,441
- Depreciation -€2,761
down €2,761 (-18.1%), from €15,265 to €12,504
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €778,922 | €822,626 | +€43,704 | +5.6% |
| Fixed assets | 21/28 | €488,700 | €476,195 | -€12,504 | -2.6% |
| Tangible fixed assets | 22/27 | €476,385 | €463,880 | -€12,504 | -2.6% |
| Land and buildings | 22 | €471,775 | €460,301 | -€11,474 | -2.4% |
| Furniture and vehicles | 24 | €4,609 | €3,579 | -€1,030 | -22.3% |
| Financial fixed assets | 28 | €12,315 | €12,315 | = | 0.0% |
| Current assets | 29/58 | €290,222 | €346,431 | +€56,208 | +19.4% |
| Amounts receivable within one year | 40/41 | €171,240 | €147,136 | -€24,104 | -14.1% |
| Trade receivables | 40 | €30,456 | €30,456 | = | 0.0% |
| Other amounts receivable | 41 | €140,784 | €116,680 | -€24,104 | -17.1% |
| Cash at bank and in hand | 54/58 | €116,343 | €180,559 | +€64,216 | +55.2% |
| Deferred charges and accrued income | 490/1 | €2,639 | €18,736 | +€16,097 | +610% |
| Total equity and liabilities | 10/49 | €778,922 | €822,626 | +€43,704 | +5.6% |
| Equity | 10/15 | €704,211 | €726,362 | +€22,151 | +3.1% |
| Contributions | 10/11 | €396,630 | €396,630 | = | 0.0% |
| Capital | 10 | €396,630 | €396,630 | = | 0.0% |
| Issued capital | 100 | €396,630 | €396,630 | = | 0.0% |
| Reserves | 13 | €39,663 | €39,663 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,663 | €39,663 | = | 0.0% |
| Legal reserve | 130 | €39,663 | €39,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | €267,918 | €290,069 | +€22,151 | +8.3% |
| Amounts payable | 17/49 | €74,711 | €96,264 | +€21,553 | +28.8% |
| Amounts payable within one year | 42/48 | €74,674 | €94,029 | +€19,355 | +25.9% |
| Trade debts | 44 | €33,223 | €82,578 | +€49,355 | +149% |
| Suppliers | 440/4 | €33,223 | €82,578 | +€49,355 | +149% |
| Taxes, remuneration and social security | 45 | €3,210 | €3,210 | = | 0.0% |
| Taxes | 450/3 | €3,210 | €3,210 | = | 0.0% |
| Other amounts payable | 47/48 | €38,241 | €8,241 | -€30,000 | -78.4% |
| Accrued charges and deferred income | 492/3 | €37 | €2,235 | +€2,198 | +5,924% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,265 | €12,504 | -€2,761 | -18.1% |
| Gross operating margin | 9900 | €102,851 | €41,440 | -€61,411 | -59.7% |
| Operating profit (loss) | 9901 | €87,586 | €28,936 | -€58,650 | -67.0% |
| Financial income | 75/76B | €241 | €855 | +€614 | +254% |
| Recurring financial income | 75 | €241 | €855 | +€614 | +254% |
| Financial charges | 65/66B | €258 | €199 | -€59 | -22.7% |
| Recurring financial charges | 65 | €258 | €199 | -€59 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €87,570 | €29,592 | -€57,978 | -66.2% |
| Income taxes | 67/77 | €22,247 | €7,441 | -€14,806 | -66.6% |
| Profit (loss) for the period | 9904 | €65,322 | €22,151 | -€43,171 | -66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,322 | €22,151 | -€43,171 | -66.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.