PHARMA LOVENJOEL: 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 LOVENJOEL
Largest movements
- Stocks and contracts -€12,908
down €12,908 (-9.4%), from €137,820 to €124,912
- Cash -€11,253
down €11,253 (-36.0%), from €31,216 to €19,962
mainly Short-term financial debts (-€35,000) and Debts after one year (-€30,829)
- Tangible fixed assets -€5,870
down €5,870 (-2.1%), from €277,394 to €271,524
of which Land and buildings: -€11,804
- Deferred charges and accrued income -€5,210
down €5,210 (-46.8%), from €11,127 to €5,917
- Trade debts +€38,853
up €38,853 (+62.6%), from €62,057 to €100,910
- Short-term financial debts -€35,000
down €35,000 (-53.8%), from €65,000 to €30,000
- Debts after one year -€30,829
down €30,829 (-25.5%), from €120,750 to €89,921
- Other debts -€11,177
down €11,177 (-7.4%), from €151,672 to €140,496
- Reserves +€5,424
up €5,424 (+34.4%), from €15,777 to €21,201
of which Distributable reserves: +€5,424
- Gross operating margin +€7,004
up €7,004 (+10.1%), from €69,298 to €76,302
- Financial charges +€2,379
up €2,379 (+9.3%), from €25,562 to €27,941
- Financial income -€2,178
down €2,178 (-77.8%), from €2,800 to €622
of which Non-recurring financial income: -€1,116
- Taxes +€1,721
new in 2025: €1,721
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 | €515,641 | €482,587 | -€33,054 | -6.4% |
| Fixed assets | 21/28 | €277,394 | €271,524 | -€5,870 | -2.1% |
| Tangible fixed assets | 22/27 | €277,394 | €271,524 | -€5,870 | -2.1% |
| Land and buildings | 22 | €274,730 | €262,926 | -€11,804 | -4.3% |
| Plant, machinery and equipment | 23 | €2,664 | €8,598 | +€5,934 | +223% |
| Current assets | 29/58 | €238,246 | €211,063 | -€27,184 | -11.4% |
| Stocks and contracts in progress | 3 | €137,820 | €124,912 | -€12,908 | -9.4% |
| Stocks | 30/36 | €137,820 | €124,912 | -€12,908 | -9.4% |
| Amounts receivable within one year | 40/41 | €58,084 | €60,271 | +€2,188 | +3.8% |
| Trade receivables | 40 | €47,108 | €54,520 | +€7,412 | +15.7% |
| Other amounts receivable | 41 | €10,976 | €5,751 | -€5,225 | -47.6% |
| Cash at bank and in hand | 54/58 | €31,216 | €19,962 | -€11,253 | -36.0% |
| Deferred charges and accrued income | 490/1 | €11,127 | €5,917 | -€5,210 | -46.8% |
| Total equity and liabilities | 10/49 | €515,641 | €482,587 | -€33,054 | -6.4% |
| Equity | 10/15 | €77,777 | €83,201 | +€5,424 | +7.0% |
| 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 | €15,777 | €21,201 | +€5,424 | +34.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €9,577 | €15,001 | +€5,424 | +56.6% |
| Amounts payable | 17/49 | €437,863 | €399,385 | -€38,478 | -8.8% |
| Amounts payable after more than one year | 17 | €120,750 | €89,921 | -€30,829 | -25.5% |
| Financial debts | 170/4 | €120,750 | €89,921 | -€30,829 | -25.5% |
| Amounts payable within one year | 42/48 | €309,576 | €302,235 | -€7,341 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €29,368 | €30,829 | +€1,462 | +5.0% |
| Financial debts | 43 | €65,000 | €30,000 | -€35,000 | -53.8% |
| Credit institutions | 430/8 | €65,000 | €30,000 | -€35,000 | -53.8% |
| Trade debts | 44 | €62,057 | €100,910 | +€38,853 | +62.6% |
| Suppliers | 440/4 | €62,057 | €100,910 | +€38,853 | +62.6% |
| Taxes, remuneration and social security | 45 | €1,479 | - | -€1,479 | |
| Taxes | 450/3 | €1,479 | - | -€1,479 | |
| Other amounts payable | 47/48 | €151,672 | €140,496 | -€11,177 | -7.4% |
| Accrued charges and deferred income | 492/3 | €7,537 | €7,229 | -€308 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,254 | €14,006 | +€752 | +5.7% |
| Other operating charges | 640/8 | €2,184 | €2,252 | +€67 | +3.1% |
| Non-recurring operating charges | 66A | €1,215 | €581 | -€633 | -52.1% |
| Gross operating margin | 9900 | €69,298 | €76,302 | +€7,004 | +10.1% |
| Operating profit (loss) | 9901 | €52,645 | €59,463 | +€6,818 | +13.0% |
| Financial income | 75/76B | €2,800 | €622 | -€2,178 | -77.8% |
| Recurring financial income | 75 | €1,684 | €622 | -€1,062 | -63.1% |
| Non-recurring financial income | 76B | €1,116 | - | -€1,116 | |
| Financial charges | 65/66B | €25,562 | €27,941 | +€2,379 | +9.3% |
| Recurring financial charges | 65 | €25,562 | €27,941 | +€2,379 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €29,884 | €32,144 | +€2,261 | +7.6% |
| Income taxes | 67/77 | - | €1,721 | +€1,721 | |
| Profit (loss) for the period | 9904 | €29,884 | €30,424 | +€540 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,884 | €30,424 | +€540 | +1.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.