Pharma Meerhout: what changed
What changed
Pharma Meerhout
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€27,788
2024 · €15,461+€12,327
Equity
€128,934
2024 · €102,295+€26,639
Cash
€51,184
2024 · €55,004-€3,820
Balance sheet total
€637,419
2024 · €611,987+€25,432
Largest movements
Assets
- Receivables within one year +€32,765
up €32,765 (+122%), from €26,872 to €59,637
of which Other amounts receivable: +€18,146
- Tangible fixed assets -€25,112
down €25,112 (-8.9%), from €282,279 to €257,167
of which Land and buildings: -€31,033
- Stocks and contracts +€18,058
up €18,058 (+12.1%), from €149,016 to €167,074
Equity and liabilities
- Profit (loss) carried forward +€27,788
up €27,788 (+74.0%), from €37,528 to €65,316
- Debts after one year -€24,533
down €24,533 (-17.6%), from €139,782 to €115,249
- Trade debts +€18,722
up €18,722 (+6.9%), from €272,428 to €291,150
Income statement
- Gross operating margin +€75,488
up €75,488 (+56.1%), from €134,614 to €210,102
- Staff costs +€37,098
up €37,098 (+48.2%), from €76,958 to €114,056
- Financial charges +€6,385
up €6,385 (+70.6%), from €9,045 to €15,430
- Financial income -€5,870
down €5,870 (-93.8%), from €6,258 to €388
- Other operating charges +€5,807
up €5,807 (+208%), from €2,797 to €8,604
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€15,461
Gross operating margin
+€75,488
Staff costs
-€37,098
Depreciation
-€2,764
Other operating charges
-€5,807
Financial income
-€5,870
Financial charges
-€6,385
Taxes
-€5,236
Deferred taxes and other
-€1
Result 2025
€27,788
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€31,295
Investment
-€9,605
Financing
-€25,510
Cash 2024
€55,004
From operations (derived)
+€31,295
Net result for the year
+€27,788
Depreciation
+€34,752
Stocks and contracts
-€18,058
Receivables within one year
-€32,765
Deferred charges and accrued income
-€3,576
Provisions
-€382
Trade debts
+€18,722
Tax, wage and social debts
+€4,688
Other debts
+€126
Investment (derived)
-€9,605
Investment in fixed assets (net)
-€9,640
Current investments
+€35
Financing
-€25,510
Debts after one year
-€24,533
Current portion of long-term debt
+€172
Contributions, distributions and other
-€1,149
Cash 2025
€51,184
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €611,987 | €637,419 | +€25,432 | +4.2% |
| Fixed assets | 21/28 | €282,279 | €257,167 | -€25,112 | -8.9% |
| Tangible fixed assets | 22/27 | €282,279 | €257,167 | -€25,112 | -8.9% |
| Land and buildings | 22 | €279,923 | €248,890 | -€31,033 | -11.1% |
| Plant, machinery and equipment | 23 | €2,356 | €8,277 | +€5,921 | +251% |
| Current assets | 29/58 | €329,708 | €380,252 | +€50,544 | +15.3% |
| Stocks and contracts in progress | 3 | €149,016 | €167,074 | +€18,058 | +12.1% |
| Stocks | 30/36 | €149,016 | €167,074 | +€18,058 | +12.1% |
| Amounts receivable within one year | 40/41 | €26,872 | €59,637 | +€32,765 | +122% |
| Trade receivables | 40 | €22,459 | €37,078 | +€14,619 | +65.1% |
| Other amounts receivable | 41 | €4,413 | €22,559 | +€18,146 | +411% |
| Current investments | 50/53 | €35 | - | -€35 | |
| Cash at bank and in hand | 54/58 | €55,004 | €51,184 | -€3,820 | -6.9% |
| Deferred charges and accrued income | 490/1 | €98,781 | €102,357 | +€3,576 | +3.6% |
| Total equity and liabilities | 10/49 | €611,987 | €637,419 | +€25,432 | +4.2% |
| Equity | 10/15 | €102,295 | €128,934 | +€26,639 | +26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,167 | €45,018 | -€1,149 | -2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €44,307 | €43,158 | -€1,149 | -2.6% |
| Profit (loss) carried forward | 14 | €37,528 | €65,316 | +€27,788 | +74.0% |
| Provisions and deferred taxes | 16 | €2,868 | €2,486 | -€382 | -13.3% |
| Deferred taxes | 168 | €2,868 | €2,486 | -€382 | -13.3% |
| Amounts payable | 17/49 | €506,824 | €505,999 | -€825 | -0.2% |
| Amounts payable after more than one year | 17 | €139,782 | €115,249 | -€24,533 | -17.6% |
| Financial debts | 170/4 | €139,782 | €115,249 | -€24,533 | -17.6% |
| Amounts payable within one year | 42/48 | €367,042 | €390,750 | +€23,708 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €24,461 | €24,633 | +€172 | +0.7% |
| Trade debts | 44 | €272,428 | €291,150 | +€18,722 | +6.9% |
| Suppliers | 440/4 | €272,428 | €291,150 | +€18,722 | +6.9% |
| Taxes, remuneration and social security | 45 | €6,468 | €11,156 | +€4,688 | +72.5% |
| Taxes | 450/3 | €6,155 | €11,141 | +€4,986 | +81.0% |
| Remuneration and social security | 454/9 | €313 | €15 | -€298 | -95.2% |
| Other amounts payable | 47/48 | €63,685 | €63,811 | +€126 | +0.2% |
| Remuneration, social security and pensions | 62 | €76,958 | €114,056 | +€37,098 | +48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,988 | €34,752 | +€2,764 | +8.6% |
| Other operating charges | 640/8 | €2,797 | €8,604 | +€5,807 | +208% |
| Gross operating margin | 9900 | €134,614 | €210,102 | +€75,488 | +56.1% |
| Operating profit (loss) | 9901 | €22,871 | €52,690 | +€29,819 | +130% |
| Financial income | 75/76B | €6,258 | €388 | -€5,870 | -93.8% |
| Recurring financial income | 75 | €6,258 | €388 | -€5,870 | -93.8% |
| Financial charges | 65/66B | €9,045 | €15,430 | +€6,385 | +70.6% |
| Recurring financial charges | 65 | €9,045 | €15,430 | +€6,385 | +70.6% |
| Profit (loss) for the period before taxes | 9903 | €20,084 | €37,648 | +€17,564 | +87.5% |
| Transfer from deferred taxes | 780 | €1,532 | €1,531 | -€1 | -0.1% |
| Income taxes | 67/77 | €6,155 | €11,391 | +€5,236 | +85.1% |
| Profit (loss) for the period | 9904 | €15,461 | €27,788 | +€12,327 | +79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,461 | €27,788 | +€12,327 | +79.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.