Pharma & More: 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 & More
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+168%), from €660,608 to €1.8m
of which Trade receivables: +€1.1m
- Stocks and contracts +€590,669
up €590,669 (+45.7%), from €1.3m to €1.9m
- Deferred charges and accrued income -€298,292
down €298,292 (-95.2%), from €313,323 to €15,031
- Intangible fixed assets +€181,568
up €181,568 (+127%), from €142,675 to €324,243
- Cash +€49,691
up €49,691 (+74.7%), from €66,554 to €116,245
mainly Trade debts (+€568,017) and Short-term financial debts (+€312,671)
- Trade debts +€568,017
up €568,017 (+94.9%), from €598,387 to €1.2m
- Short-term financial debts +€312,671
up €312,671 (+56.5%), from €553,091 to €865,762
- Debts after one year +€289,635
up €289,635 (+268%), from €107,998 to €397,633
- Tax, wage and social debts +€187,871
up €187,871 (+66.3%), from €283,347 to €471,218
of which Taxes: +€117,126
- Reserves +€156,367
up €156,367 (+37.8%), from €413,372 to €569,739
- Gross operating margin +€263,603
up €263,603 (+15.9%), from €1.7m to €1.9m
- Staff costs +€227,438
up €227,438 (+18.0%), from €1.3m to €1.5m
- Depreciation +€27,095
up €27,095 (+89.8%), from €30,176 to €57,271
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 | €2,786,571 | €4,429,818 | +€1.6m | +59.0% |
| Fixed assets | 21/28 | €454,640 | €643,418 | +€188,778 | +41.5% |
| Intangible fixed assets | 21 | €142,675 | €324,243 | +€181,568 | +127% |
| Tangible fixed assets | 22/27 | €25,568 | €32,778 | +€7,210 | +28.2% |
| Plant, machinery and equipment | 23 | €7,326 | €5,341 | -€1,985 | -27.1% |
| Furniture and vehicles | 24 | €18,242 | €18,188 | -€54 | -0.3% |
| Leasing and similar rights | 25 | - | €9,248 | +€9,248 | |
| Financial fixed assets | 28 | €286,397 | €286,397 | = | 0.0% |
| Current assets | 29/58 | €2,331,930 | €3,786,399 | +€1.5m | +62.4% |
| Stocks and contracts in progress | 3 | €1,291,445 | €1,882,114 | +€590,669 | +45.7% |
| Stocks | 30/36 | €1,291,445 | €1,882,114 | +€590,669 | +45.7% |
| Amounts receivable within one year | 40/41 | €660,608 | €1,773,009 | +€1.1m | +168% |
| Trade receivables | 40 | €545,878 | €1,632,040 | +€1.1m | +199% |
| Other amounts receivable | 41 | €114,730 | €140,969 | +€26,239 | +22.9% |
| Cash at bank and in hand | 54/58 | €66,554 | €116,245 | +€49,691 | +74.7% |
| Deferred charges and accrued income | 490/1 | €313,323 | €15,031 | -€298,292 | -95.2% |
| Total equity and liabilities | 10/49 | €2,786,571 | €4,429,818 | +€1.6m | +59.0% |
| Equity | 10/15 | €1,180,038 | €1,336,405 | +€156,367 | +13.3% |
| Contributions | 10/11 | €766,666 | €766,666 | = | 0.0% |
| Reserves | 13 | €413,372 | €569,739 | +€156,367 | +37.8% |
| Distributable reserves | 133 | €413,372 | €569,739 | +€156,367 | +37.8% |
| Amounts payable | 17/49 | €1,606,533 | €3,093,413 | +€1.5m | +92.6% |
| Amounts payable after more than one year | 17 | €107,998 | €397,633 | +€289,635 | +268% |
| Financial debts | 170/4 | €107,998 | €397,633 | +€289,635 | +268% |
| Amounts payable within one year | 42/48 | €1,498,323 | €2,660,046 | +€1.2m | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €63,499 | €156,661 | +€93,163 | +147% |
| Financial debts | 43 | €553,091 | €865,762 | +€312,671 | +56.5% |
| Credit institutions | 430/8 | €553,091 | €865,762 | +€312,671 | +56.5% |
| Trade debts | 44 | €598,387 | €1,166,404 | +€568,017 | +94.9% |
| Suppliers | 440/4 | €598,387 | €1,166,404 | +€568,017 | +94.9% |
| Taxes, remuneration and social security | 45 | €283,347 | €471,218 | +€187,871 | +66.3% |
| Taxes | 450/3 | €116,356 | €233,481 | +€117,126 | +101% |
| Remuneration and social security | 454/9 | €166,991 | €237,736 | +€70,745 | +42.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €211 | €35,735 | +€35,523 | +16,798% |
| Remuneration, social security and pensions | 62 | €1,264,947 | €1,492,385 | +€227,438 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,176 | €57,271 | +€27,095 | +89.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,017 | €0 | -€1,017 | -100% |
| Other operating charges | 640/8 | €20,170 | €15,275 | -€4,895 | -24.3% |
| Gross operating margin | 9900 | €1,658,141 | €1,921,744 | +€263,603 | +15.9% |
| Operating profit (loss) | 9901 | €341,830 | €356,813 | +€14,982 | +4.4% |
| Financial income | 75/76B | €14,608 | €14,436 | -€172 | -1.2% |
| Recurring financial income | 75 | €14,608 | €14,436 | -€172 | -1.2% |
| Financial charges | 65/66B | €103,916 | €122,377 | +€18,461 | +17.8% |
| Recurring financial charges | 65 | €103,916 | €122,377 | +€18,461 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €252,523 | €248,872 | -€3,650 | -1.4% |
| Income taxes | 67/77 | €95,148 | €92,506 | -€2,642 | -2.8% |
| Profit (loss) for the period | 9904 | €157,375 | €156,367 | -€1,008 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €157,375 | €156,367 | -€1,008 | -0.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.