PHARMA MAR: 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 MAR
Largest movements
- Cash -€93,618
down €93,618 (-47.5%), from €196,992 to €103,374
mainly Receivables within one year (-€62,243) and Tax, wage and social debts (-€58,665)
- Receivables within one year +€62,243
up €62,243 (+20.0%), from €311,775 to €374,018
of which Trade receivables: +€66,842
- Tax, wage and social debts -€58,665
down €58,665 (-27.7%), from €211,667 to €153,002
of which Remuneration and social security: -€56,383
- Trade debts +€22,331
up €22,331 (+148.5%), from €15,035 to €37,366
- Profit (loss) carried forward +€8,208
up €8,208 (+12.6%), from €65,217 to €73,426
- Staff costs -€71,862
down €71,862 (-11.9%), from €604,757 to €532,895
- Gross operating margin -€40,601
down €40,601 (-5.8%), from €694,671 to €654,069
- Other operating charges +€30,887
up €30,887 (+46.1%), from €67,036 to €97,923
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.
Cash bridge derived
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 | €526,921 | €492,662 | -€34,258 | -6.5% |
| Fixed assets | 21/28 | €9,057 | €6,167 | -€2,890 | -31.9% |
| Tangible fixed assets | 22/27 | €4,632 | €1,742 | -€2,890 | -62.4% |
| Furniture and vehicles | 24 | €4,632 | €1,742 | -€2,890 | -62.4% |
| Financial fixed assets | 28 | €4,425 | €4,425 | = | 0.0% |
| Current assets | 29/58 | €517,863 | €486,495 | -€31,368 | -6.1% |
| Amounts receivable after more than one year | 29 | €800 | €800 | = | 0.0% |
| Other amounts receivable | 291 | €800 | €800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €311,775 | €374,018 | +€62,243 | +20.0% |
| Trade receivables | 40 | €274,589 | €341,432 | +€66,842 | +24.3% |
| Other amounts receivable | 41 | €37,186 | €32,587 | -€4,599 | -12.4% |
| Cash at bank and in hand | 54/58 | €196,992 | €103,374 | -€93,618 | -47.5% |
| Deferred charges and accrued income | 490/1 | €8,296 | €8,302 | +€6 | +0.1% |
| Total equity and liabilities | 10/49 | €526,921 | €492,662 | -€34,258 | -6.5% |
| Equity | 10/15 | €215,217 | €223,426 | +€8,208 | +3.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,217 | €73,426 | +€8,208 | +12.6% |
| Amounts payable | 17/49 | €311,704 | €269,237 | -€42,467 | -13.6% |
| Amounts payable within one year | 42/48 | €291,406 | €252,179 | -€39,227 | -13.5% |
| Trade debts | 44 | €15,035 | €37,366 | +€22,331 | +148.5% |
| Suppliers | 440/4 | €15,035 | €37,366 | +€22,331 | +148.5% |
| Taxes, remuneration and social security | 45 | €211,667 | €153,002 | -€58,665 | -27.7% |
| Taxes | 450/3 | €18,900 | €16,618 | -€2,282 | -12.1% |
| Remuneration and social security | 454/9 | €192,766 | €136,383 | -€56,383 | -29.2% |
| Other amounts payable | 47/48 | €64,704 | €61,812 | -€2,892 | -4.5% |
| Accrued charges and deferred income | 492/3 | €20,298 | €17,058 | -€3,240 | -16.0% |
| Remuneration, social security and pensions | 62 | €604,757 | €532,895 | -€71,862 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,486 | €2,890 | +€404 | +16.2% |
| Other operating charges | 640/8 | €67,036 | €97,923 | +€30,887 | +46.1% |
| Gross operating margin | 9900 | €694,671 | €654,069 | -€40,601 | -5.8% |
| Operating profit (loss) | 9901 | €20,391 | €20,361 | -€30 | -0.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €4,793 | €4,090 | -€703 | -14.7% |
| Recurring financial charges | 65 | €4,793 | €4,090 | -€703 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €15,598 | €16,270 | +€673 | +4.3% |
| Income taxes | 67/77 | €9,728 | €8,062 | -€1,666 | -17.1% |
| Profit (loss) for the period | 9904 | €5,870 | €8,208 | +€2,338 | +39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,870 | €8,208 | +€2,338 | +39.8% |
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 12 October 2026 via checked.be.