PHARMA MANUFACTURING: 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 MANUFACTURING
Largest movements
- Tangible fixed assets -€133,397
down €133,397 (-34.1%), from €390,916 to €257,519
of which Land and buildings: -€81,696
- Receivables within one year +€74,114
up €74,114 (+4.8%), from €1.6m to €1.6m
of which Trade receivables: +€293,692
- Cash +€38,751
up €38,751 (+102%), from €37,986 to €76,737
mainly Depreciation (+€154,513) and Tax, wage and social debts (+€40,163)
- Trade debts -€86,902
down €86,902 (-54.6%), from €159,307 to €72,405
- Tax, wage and social debts +€40,163
up €40,163 (+43.2%), from €92,961 to €133,125
of which Remuneration and social security: +€37,184
- Turnover +€235,760
up €235,760 (+8.5%), from €2.8m to €3.0m
- Purchases and services +€163,451
up €163,451 (+7.8%), from €2.1m to €2.3m
- Staff costs +€71,267
up €71,267 (+14.1%), from €506,471 to €577,738
- Gross operating margin +€66,496
up €66,496 (+9.4%), from €707,091 to €773,587
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 | €3,006,888 | €2,972,144 | -€34,744 | -1.2% |
| Fixed assets | 21/28 | €394,271 | €257,955 | -€136,316 | -34.6% |
| Intangible fixed assets | 21 | €3,355 | €435 | -€2,919 | -87.0% |
| Tangible fixed assets | 22/27 | €390,916 | €257,519 | -€133,397 | -34.1% |
| Land and buildings | 22 | €203,967 | €122,272 | -€81,696 | -40.1% |
| Plant, machinery and equipment | 23 | €77,474 | €47,842 | -€29,633 | -38.2% |
| Furniture and vehicles | 24 | €109,475 | €70,826 | -€38,648 | -35.3% |
| Assets under construction and advance payments | 27 | - | €16,580 | +€16,580 | |
| Current assets | 29/58 | €2,612,617 | €2,714,189 | +€101,572 | +3.9% |
| Stocks and contracts in progress | 3 | €995,631 | €987,107 | -€8,524 | -0.9% |
| Stocks | 30/36 | €995,631 | €987,107 | -€8,524 | -0.9% |
| Amounts receivable within one year | 40/41 | €1,551,909 | €1,626,023 | +€74,114 | +4.8% |
| Trade receivables | 40 | €413,659 | €707,351 | +€293,692 | +71.0% |
| Other amounts receivable | 41 | €1,138,250 | €918,672 | -€219,578 | -19.3% |
| Cash at bank and in hand | 54/58 | €37,986 | €76,737 | +€38,751 | +102% |
| Deferred charges and accrued income | 490/1 | €27,091 | €24,322 | -€2,769 | -10.2% |
| Total equity and liabilities | 10/49 | €3,006,888 | €2,972,144 | -€34,744 | -1.2% |
| Equity | 10/15 | €2,754,504 | €2,765,725 | +€11,221 | +0.4% |
| 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 | €1,756,200 | €1,756,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,750,000 | €1,750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €935,990 | €942,219 | +€6,229 | +0.7% |
| Investment grants | 15 | €314 | €5,306 | +€4,992 | +1,591% |
| Amounts payable | 17/49 | €252,385 | €206,419 | -€45,966 | -18.2% |
| Amounts payable within one year | 42/48 | €252,385 | €205,626 | -€46,758 | -18.5% |
| Trade debts | 44 | €159,307 | €72,405 | -€86,902 | -54.6% |
| Suppliers | 440/4 | €159,307 | €72,405 | -€86,902 | -54.6% |
| Taxes, remuneration and social security | 45 | €92,961 | €133,125 | +€40,163 | +43.2% |
| Taxes | 450/3 | €35,962 | €38,941 | +€2,979 | +8.3% |
| Remuneration and social security | 454/9 | €56,999 | €94,184 | +€37,184 | +65.2% |
| Other amounts payable | 47/48 | €116 | €97 | -€19 | -16.6% |
| Accrued charges and deferred income | 492/3 | €0 | €793 | +€793 | |
| Turnover | 70 | €2,787,285 | €3,023,045 | +€235,760 | +8.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,105,482 | €2,268,933 | +€163,451 | +7.8% |
| Remuneration, social security and pensions | 62 | €506,471 | €577,738 | +€71,267 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,855 | €154,513 | -€16,342 | -9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,504 | €29,041 | +€27,537 | +1,831% |
| Other operating charges | 640/8 | €21,488 | €22,047 | +€559 | +2.6% |
| Gross operating margin | 9900 | €707,091 | €773,587 | +€66,496 | +9.4% |
| Operating profit (loss) | 9901 | €6,773 | -€9,752 | -€16,525 | |
| Financial income | 75/76B | €701 | €18,334 | +€17,633 | +2,515% |
| Recurring financial income | 75 | €701 | €18,334 | +€17,633 | +2,515% |
| Financial charges | 65/66B | €232 | €918 | +€687 | +296% |
| Recurring financial charges | 65 | €232 | €918 | +€687 | +296% |
| Profit (loss) for the period before taxes | 9903 | €7,242 | €7,664 | +€422 | +5.8% |
| Income taxes | 67/77 | €4,888 | €1,435 | -€3,453 | -70.6% |
| Profit (loss) for the period | 9904 | €2,354 | €6,229 | +€3,875 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €2,354 | €6,229 | +€3,875 | +165% |
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 23 October 2026 via checked.be.