PHARMA LINK: 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 LINK
Largest movements
- Receivables within one year +€85,899
up €85,899 (+21.5%), from €398,854 to €484,753
of which Other amounts receivable: +€69,380
- Tangible fixed assets -€39,655
down €39,655 (-11.7%), from €339,016 to €299,361
of which Land and buildings: -€33,951
- Stocks and contracts +€12,843
up €12,843 (+10.4%), from €123,259 to €136,102
- Cash +€10,292
up €10,292 (+11.0%), from €93,379 to €103,671
mainly Other debts (+€132,221) and Net result for the year (+€128,563)
- Reserves -€139,150
down €139,150 (-61.5%), from €226,350 to €87,200
of which Distributable reserves: -€139,150
- Other debts +€132,221
up €132,221 (+55.5%), from €238,200 to €370,420
- Trade debts +€115,964
up €115,964 (+84.4%), from €137,412 to €253,375
- Debts after one year -€33,878
down €33,878 (-14.0%), from €242,525 to €208,648
- Gross operating margin -€120,642
down €120,642 (-26.4%), from €456,634 to €335,992
- Taxes -€35,774
down €35,774 (-44.9%), from €79,727 to €43,953
- Staff costs +€14,605
up €14,605 (+19.7%), from €74,259 to €88,864
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 | €954,545 | €1,023,924 | +€69,379 | +7.3% |
| Fixed assets | 21/28 | €339,053 | €299,398 | -€39,655 | -11.7% |
| Tangible fixed assets | 22/27 | €339,016 | €299,361 | -€39,655 | -11.7% |
| Land and buildings | 22 | €278,506 | €244,555 | -€33,951 | -12.2% |
| Plant, machinery and equipment | 23 | €59,451 | €35,394 | -€24,057 | -40.5% |
| Furniture and vehicles | 24 | €1,059 | €19,411 | +€18,352 | +1,733% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €615,491 | €724,526 | +€109,034 | +17.7% |
| Stocks and contracts in progress | 3 | €123,259 | €136,102 | +€12,843 | +10.4% |
| Stocks | 30/36 | €123,259 | €136,102 | +€12,843 | +10.4% |
| Amounts receivable within one year | 40/41 | €398,854 | €484,753 | +€85,899 | +21.5% |
| Trade receivables | 40 | €144,812 | €161,330 | +€16,519 | +11.4% |
| Other amounts receivable | 41 | €254,042 | €323,423 | +€69,380 | +27.3% |
| Cash at bank and in hand | 54/58 | €93,379 | €103,671 | +€10,292 | +11.0% |
| Total equity and liabilities | 10/49 | €954,545 | €1,023,924 | +€69,379 | +7.3% |
| Equity | 10/15 | €289,022 | €149,586 | -€139,437 | -48.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €226,350 | €87,200 | -€139,150 | -61.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €220,150 | €81,000 | -€139,150 | -63.2% |
| Profit (loss) carried forward | 14 | €672 | €386 | -€287 | -42.7% |
| Amounts payable | 17/49 | €665,522 | €874,338 | +€208,816 | +31.4% |
| Amounts payable after more than one year | 17 | €242,525 | €208,648 | -€33,878 | -14.0% |
| Financial debts | 170/4 | €242,525 | €208,648 | -€33,878 | -14.0% |
| Amounts payable within one year | 42/48 | €422,997 | €665,690 | +€242,693 | +57.4% |
| Current portion of amounts payable after more than one year | 42 | €33,346 | €33,878 | +€531 | +1.6% |
| Trade debts | 44 | €137,412 | €253,375 | +€115,964 | +84.4% |
| Suppliers | 440/4 | €137,412 | €253,375 | +€115,964 | +84.4% |
| Advances received on contracts in progress | 46 | €3,888 | €346 | -€3,543 | -91.1% |
| Taxes, remuneration and social security | 45 | €10,152 | €7,672 | -€2,480 | -24.4% |
| Remuneration and social security | 454/9 | €10,152 | €7,672 | -€2,480 | -24.4% |
| Other amounts payable | 47/48 | €238,200 | €370,420 | +€132,221 | +55.5% |
| Remuneration, social security and pensions | 62 | €74,259 | €88,864 | +€14,605 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,993 | €64,504 | +€2,512 | +4.1% |
| Other operating charges | 640/8 | €3,431 | €3,315 | -€115 | -3.4% |
| Gross operating margin | 9900 | €456,634 | €335,992 | -€120,642 | -26.4% |
| Operating profit (loss) | 9901 | €316,951 | €179,308 | -€137,643 | -43.4% |
| Financial income | 75/76B | €505 | €21 | -€485 | -95.9% |
| Recurring financial income | 75 | €505 | €21 | -€485 | -95.9% |
| Financial charges | 65/66B | €7,511 | €6,813 | -€699 | -9.3% |
| Recurring financial charges | 65 | €7,511 | €6,813 | -€699 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €309,945 | €172,516 | -€137,429 | -44.3% |
| Income taxes | 67/77 | €79,727 | €43,953 | -€35,774 | -44.9% |
| Profit (loss) for the period | 9904 | €230,219 | €128,563 | -€101,655 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €230,219 | €128,563 | -€101,655 | -44.2% |
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 18 October 2026 via checked.be.