PHARMA-LOUVE: 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-LOUVE
Largest movements
- Cash +€206,559
up €206,559 (+46.7%), from €442,379 to €648,938
mainly Net result for the year (+€110,741) and Trade debts (+€46,255)
- Receivables within one year -€37,550
down €37,550 (-8.3%), from €451,837 to €414,287
of which Other amounts receivable: -€49,579
- Tangible fixed assets -€33,405
down €33,405 (-9.7%), from €345,708 to €312,303
- Reserves +€84,200
up €84,200 (+108%), from €77,905 to €162,105
of which Tax-exempt reserves: +€84,200
- Trade debts +€46,255
up €46,255 (+34.0%), from €135,941 to €182,196
- Debts after one year -€32,159
down €32,159 (-12.0%), from €268,539 to €236,380
of which Financial debts: -€32,159
- Profit (loss) carried forward +€26,541
up €26,541 (+5.2%), from €511,449 to €537,990
- Depreciation -€23,117
down €23,117 (-33.8%), from €68,471 to €45,355
- Staff costs +€15,600
up €15,600 (+8.5%), from €182,983 to €198,583
- Gross operating margin -€15,012
down €15,012 (-3.7%), from €410,913 to €395,901
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 | €1,422,454 | €1,549,945 | +€127,491 | +9.0% |
| Fixed assets | 21/28 | €345,868 | €312,303 | -€33,565 | -9.7% |
| Tangible fixed assets | 22/27 | €345,708 | €312,303 | -€33,405 | -9.7% |
| Land and buildings | 22 | €290,259 | €275,406 | -€14,853 | -5.1% |
| Plant, machinery and equipment | 23 | €51,794 | €35,955 | -€15,839 | -30.6% |
| Furniture and vehicles | 24 | €3,655 | €941 | -€2,714 | -74.2% |
| Financial fixed assets | 28 | €160 | - | -€160 | |
| Current assets | 29/58 | €1,076,585 | €1,237,642 | +€161,057 | +15.0% |
| Stocks and contracts in progress | 3 | €182,369 | €170,817 | -€11,552 | -6.3% |
| Stocks | 30/36 | €182,369 | €170,817 | -€11,552 | -6.3% |
| Amounts receivable within one year | 40/41 | €451,837 | €414,287 | -€37,550 | -8.3% |
| Trade receivables | 40 | €108,275 | €120,305 | +€12,029 | +11.1% |
| Other amounts receivable | 41 | €343,562 | €293,983 | -€49,579 | -14.4% |
| Cash at bank and in hand | 54/58 | €442,379 | €648,938 | +€206,559 | +46.7% |
| Deferred charges and accrued income | 490/1 | - | €3,600 | +€3,600 | |
| Total equity and liabilities | 10/49 | €1,422,454 | €1,549,945 | +€127,491 | +9.0% |
| Equity | 10/15 | €964,354 | €1,075,095 | +€110,741 | +11.5% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €77,905 | €162,105 | +€84,200 | +108% |
| Non-distributable reserves | 130/1 | €31,625 | €31,625 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,625 | €31,625 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Distributable reserves | 133 | €46,280 | €46,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €511,449 | €537,990 | +€26,541 | +5.2% |
| Amounts payable | 17/49 | €458,100 | €474,850 | +€16,751 | +3.7% |
| Amounts payable after more than one year | 17 | €268,539 | €236,380 | -€32,159 | -12.0% |
| Financial debts | 170/4 | €267,039 | €234,880 | -€32,159 | -12.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €189,560 | €238,470 | +€48,910 | +25.8% |
| Current portion of amounts payable after more than one year | 42 | €31,170 | €31,968 | +€799 | +2.6% |
| Trade debts | 44 | €135,941 | €182,196 | +€46,255 | +34.0% |
| Suppliers | 440/4 | €135,941 | €182,196 | +€46,255 | +34.0% |
| Advances received on contracts in progress | 46 | €290 | - | -€290 | |
| Taxes, remuneration and social security | 45 | €21,715 | €24,231 | +€2,516 | +11.6% |
| Taxes | 450/3 | €48 | - | -€48 | |
| Remuneration and social security | 454/9 | €21,667 | €24,231 | +€2,564 | +11.8% |
| Other amounts payable | 47/48 | €445 | €75 | -€370 | -83.1% |
| Remuneration, social security and pensions | 62 | €182,983 | €198,583 | +€15,600 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,471 | €45,355 | -€23,117 | -33.8% |
| Other operating charges | 640/8 | - | €0 | +€0 | |
| Gross operating margin | 9900 | €410,913 | €395,901 | -€15,012 | -3.7% |
| Operating profit (loss) | 9901 | €159,459 | €151,963 | -€7,496 | -4.7% |
| Financial income | 75/76B | €1,553 | - | -€1,553 | |
| Recurring financial income | 75 | €1,553 | - | -€1,553 | |
| Financial charges | 65/66B | €6,666 | €5,287 | -€1,379 | -20.7% |
| Recurring financial charges | 65 | €6,666 | €5,287 | -€1,379 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €154,346 | €146,675 | -€7,670 | -5.0% |
| Income taxes | 67/77 | €39,078 | €35,935 | -€3,143 | -8.0% |
| Profit (loss) for the period | 9904 | €115,268 | €110,741 | -€4,527 | -3.9% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €115,268 | €26,541 | -€88,727 | -77.0% |
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 17 October 2026 via checked.be.