PHARMA NORD: 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 NORD
Largest movements
- Receivables within one year -€384,857
down €384,857 (-24.6%), from €1.6m to €1.2m
of which Trade receivables: -€390,971
- Tangible fixed assets +€200,726
up €200,726 (+90.3%), from €222,320 to €423,046
of which Furniture and vehicles: +€202,531
- Cash +€85,895
up €85,895 (+1,448%), from €5,933 to €91,828
mainly Receivables within one year (+€384,857) and Depreciation (+€78,751)
- Other debts -€116,371
down €116,371 (-59.3%), from €196,371 to €80,000
- Tax, wage and social debts +€52,612
up €52,612 (+18.7%), from €280,889 to €333,501
- Short-term financial debts -€48,735
down €48,735 (-4.3%), from €1.1m to €1.1m
- Gross operating margin +€446,713
up €446,713 (+22.8%), from €2.0m to €2.4m
- Staff costs +€398,942
up €398,942 (+23.5%), from €1.7m to €2.1m
- Financial charges +€25,999
up €25,999 (+82.2%), from €31,648 to €57,647
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 | €1,871,696 | €1,771,731 | -€99,965 | -5.3% |
| Fixed assets | 21/28 | €227,969 | €428,694 | +€200,726 | +88.0% |
| Tangible fixed assets | 22/27 | €222,320 | €423,046 | +€200,726 | +90.3% |
| Plant, machinery and equipment | 23 | €8,036 | €4,505 | -€3,531 | -43.9% |
| Furniture and vehicles | 24 | €208,556 | €411,087 | +€202,531 | +97.1% |
| Other tangible fixed assets | 26 | €5,728 | €7,454 | +€1,726 | +30.1% |
| Financial fixed assets | 28 | €5,648 | €5,648 | = | 0.0% |
| Current assets | 29/58 | €1,643,728 | €1,343,037 | -€300,691 | -18.3% |
| Amounts receivable within one year | 40/41 | €1,564,192 | €1,179,335 | -€384,857 | -24.6% |
| Trade receivables | 40 | €1,512,621 | €1,121,649 | -€390,971 | -25.8% |
| Other amounts receivable | 41 | €51,571 | €57,686 | +€6,115 | +11.9% |
| Cash at bank and in hand | 54/58 | €5,933 | €91,828 | +€85,895 | +1,448% |
| Deferred charges and accrued income | 490/1 | €73,604 | €71,874 | -€1,729 | -2.3% |
| Total equity and liabilities | 10/49 | €1,871,696 | €1,771,731 | -€99,965 | -5.3% |
| Equity | 10/15 | €22,930 | €20,513 | -€2,418 | -10.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,338 | - | -€4,338 | |
| Distributable reserves | 133 | €4,338 | - | -€4,338 | |
| Profit (loss) carried forward | 14 | - | €1,921 | +€1,921 | |
| Amounts payable | 17/49 | €1,848,766 | €1,751,218 | -€97,548 | -5.3% |
| Amounts payable within one year | 42/48 | €1,848,766 | €1,751,218 | -€97,548 | -5.3% |
| Financial debts | 43 | €1,128,858 | €1,080,124 | -€48,735 | -4.3% |
| Credit institutions | 430/8 | €1,128,858 | €1,080,124 | -€48,735 | -4.3% |
| Trade debts | 44 | €242,648 | €257,594 | +€14,946 | +6.2% |
| Suppliers | 440/4 | €242,648 | €257,594 | +€14,946 | +6.2% |
| Taxes, remuneration and social security | 45 | €280,889 | €333,501 | +€52,612 | +18.7% |
| Taxes | 450/3 | €280,889 | €333,501 | +€52,612 | +18.7% |
| Other amounts payable | 47/48 | €196,371 | €80,000 | -€116,371 | -59.3% |
| Remuneration, social security and pensions | 62 | €1,698,664 | €2,097,607 | +€398,942 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,313 | €78,751 | +€8,439 | +12.0% |
| Other operating charges | 640/8 | €14,566 | €37,932 | +€23,366 | +160% |
| Non-recurring operating charges | 66A | €7,017 | - | -€7,017 | |
| Gross operating margin | 9900 | €1,956,545 | €2,403,259 | +€446,713 | +22.8% |
| Operating profit (loss) | 9901 | €165,986 | €188,968 | +€22,983 | +13.8% |
| Financial income | 75/76B | €254 | €221 | -€33 | -13.0% |
| Recurring financial income | 75 | €254 | €221 | -€33 | -13.0% |
| Financial charges | 65/66B | €31,648 | €57,647 | +€25,999 | +82.2% |
| Recurring financial charges | 65 | €31,648 | €57,647 | +€25,999 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | €134,592 | €131,543 | -€3,050 | -2.3% |
| Income taxes | 67/77 | €53,533 | €53,960 | +€427 | +0.8% |
| Profit (loss) for the period | 9904 | €81,060 | €77,582 | -€3,477 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,060 | €77,582 | -€3,477 | -4.3% |
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 27 October 2026 via checked.be.