PHARMA PROJECT: what changed
Two fiscal 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 PROJECT
Largest movements
- Tangible fixed assets -€69,626
down €69,626 (-8.1%), from €861,391 to €791,764
of which Leasing and similar rights: -€63,721
- Cash +€11,865
new in 2025: €11,865
mainly Other debts (+€69,694) and Depreciation (+€69,626)
- Debts after one year -€102,889
down €102,889 (-22.3%), from €461,661 to €358,771
- Other debts +€69,694
up €69,694 (+23.6%), from €295,494 to €365,188
- Short-term financial debts -€20,386
no longer reported in 2025 (was €20,386)
- Profit (loss) carried forward -€11,278
down €11,278 (-1.4%), from -€827,904 to -€839,182
- Gross operating margin -€14,299
down €14,299 (-14.6%), from €98,259 to €83,959
- Financial charges -€1,394
down €1,394 (-5.2%), from €27,005 to €25,611
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 | €862,958 | €806,013 | -€56,946 | -6.6% |
| Fixed assets | 21/28 | €861,391 | €791,764 | -€69,626 | -8.1% |
| Tangible fixed assets | 22/27 | €861,391 | €791,764 | -€69,626 | -8.1% |
| Land and buildings | 22 | €198,353 | €193,493 | -€4,860 | -2.5% |
| Furniture and vehicles | 24 | €3,136 | €2,091 | -€1,045 | -33.3% |
| Leasing and similar rights | 25 | €659,902 | €596,181 | -€63,721 | -9.7% |
| Current assets | 29/58 | €1,568 | €14,248 | +€12,681 | +808.8% |
| Cash at bank and in hand | 54/58 | - | €11,865 | +€11,865 | |
| Deferred charges and accrued income | 490/1 | €1,568 | €2,383 | +€815 | +52.0% |
| Total equity and liabilities | 10/49 | €862,958 | €806,013 | -€56,946 | -6.6% |
| Equity | 10/15 | -€22,018 | -€33,296 | -€11,278 | -51.2% |
| 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% |
| Revaluation surpluses | 12 | €743,886 | €743,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€827,904 | -€839,182 | -€11,278 | -1.4% |
| Amounts payable | 17/49 | €884,976 | €839,308 | -€45,668 | -5.2% |
| Amounts payable after more than one year | 17 | €461,661 | €358,771 | -€102,889 | -22.3% |
| Financial debts | 170/4 | €461,661 | €358,771 | -€102,889 | -22.3% |
| Amounts payable within one year | 42/48 | €421,979 | €479,447 | +€57,469 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €103,388 | €102,889 | -€499 | -0.5% |
| Financial debts | 43 | €20,386 | - | -€20,386 | |
| Credit institutions | 430/8 | €20,386 | - | -€20,386 | |
| Trade debts | 44 | €1,651 | €9,878 | +€8,228 | +498.5% |
| Suppliers | 440/4 | €1,651 | €9,878 | +€8,228 | +498.5% |
| Taxes, remuneration and social security | 45 | €1,060 | €1,492 | +€432 | +40.7% |
| Taxes | 450/3 | €1,060 | €1,492 | +€432 | +40.7% |
| Other amounts payable | 47/48 | €295,494 | €365,188 | +€69,694 | +23.6% |
| Accrued charges and deferred income | 492/3 | €1,337 | €1,090 | -€247 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,626 | €69,626 | = | 0.0% |
| Gross operating margin | 9900 | €98,259 | €83,959 | -€14,299 | -14.6% |
| Operating profit (loss) | 9901 | €28,632 | €14,333 | -€14,299 | -49.9% |
| Financial charges | 65/66B | €27,005 | €25,611 | -€1,394 | -5.2% |
| Recurring financial charges | 65 | €27,005 | €25,611 | -€1,394 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €1,627 | -€11,278 | -€12,905 | |
| Profit (loss) for the period | 9904 | €1,627 | -€11,278 | -€12,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,627 | -€11,278 | -€12,905 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.