PHARMA4L: 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.
PHARMA4L
Largest movements
- Tangible fixed assets +€264,493
new in 2025: €264,493
- Receivables within one year +€54,537
up €54,537 (+81.1%), from €67,213 to €121,750
- Reserves +€242,951
up €242,951 (+22.8%), from €1.1m to €1.3m
- Other debts +€141,666
up €141,666 (+60.1%), from €235,797 to €377,463
- Debts after one year -€112,043
down €112,043 (-35.0%), from €320,189 to €208,146
- Gross operating margin +€47,033
up €47,033 (+38.7%), from €121,552 to €168,584
- Financial income +€17,537
up €17,537 (+13.0%), from €135,266 to €152,803
of which Financial income: +€28,399
- Taxes +€15,582
up €15,582 (+38.1%), from €40,855 to €56,437
- Financial charges -€2,410
down €2,410 (-11.0%), from €21,827 to €19,417
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 | €1,837,677 | €2,137,029 | +€299,352 | +16.3% |
| Fixed assets | 21/28 | €1,731,457 | €1,995,950 | +€264,493 | +15.3% |
| Tangible fixed assets | 22/27 | - | €264,493 | +€264,493 | |
| Land and buildings | 22 | - | €264,493 | +€264,493 | |
| Financial fixed assets | 28 | €1,731,457 | €1,731,457 | = | 0.0% |
| Current assets | 29/58 | €106,219 | €141,078 | +€34,859 | +32.8% |
| Amounts receivable within one year | 40/41 | €67,213 | €121,750 | +€54,537 | +81.1% |
| Trade receivables | 40 | €67,213 | €121,750 | +€54,537 | +81.1% |
| Cash at bank and in hand | 54/58 | €38,322 | €18,638 | -€19,684 | -51.4% |
| Deferred charges and accrued income | 490/1 | €684 | €690 | +€6 | +0.9% |
| Total equity and liabilities | 10/49 | €1,837,677 | €2,137,029 | +€299,352 | +16.3% |
| Equity | 10/15 | €1,113,313 | €1,356,264 | +€242,951 | +21.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,063,313 | €1,306,264 | +€242,951 | +22.8% |
| Distributable reserves | 133 | €1,063,313 | €1,306,264 | +€242,951 | +22.8% |
| Amounts payable | 17/49 | €724,363 | €780,764 | +€56,401 | +7.8% |
| Amounts payable after more than one year | 17 | €320,189 | €208,146 | -€112,043 | -35.0% |
| Financial debts | 170/4 | €320,189 | €208,146 | -€112,043 | -35.0% |
| Amounts payable within one year | 42/48 | €392,144 | €561,666 | +€169,523 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €111,003 | €112,043 | +€1,040 | +0.9% |
| Financial debts | 43 | - | €10,084 | +€10,084 | |
| Credit institutions | 430/8 | - | €10,084 | +€10,084 | |
| Trade debts | 44 | €19,838 | €23,162 | +€3,324 | +16.8% |
| Suppliers | 440/4 | €19,838 | €23,162 | +€3,324 | +16.8% |
| Taxes, remuneration and social security | 45 | €25,506 | €38,915 | +€13,409 | +52.6% |
| Taxes | 450/3 | €25,506 | €38,915 | +€13,409 | +52.6% |
| Other amounts payable | 47/48 | €235,797 | €377,463 | +€141,666 | +60.1% |
| Accrued charges and deferred income | 492/3 | €12,031 | €10,952 | -€1,078 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €562 | +€562 | |
| Other operating charges | 640/8 | €1,939 | €2,020 | +€81 | +4.2% |
| Gross operating margin | 9900 | €121,552 | €168,584 | +€47,033 | +38.7% |
| Operating profit (loss) | 9901 | €119,612 | €166,002 | +€46,390 | +38.8% |
| Financial income | 75/76B | €135,266 | €152,803 | +€17,537 | +13.0% |
| Recurring financial income | 75 | €124,404 | €152,803 | +€28,399 | +22.8% |
| Non-recurring financial income | 76B | €10,862 | - | -€10,862 | |
| Financial charges | 65/66B | €21,827 | €19,417 | -€2,410 | -11.0% |
| Recurring financial charges | 65 | €21,827 | €19,417 | -€2,410 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €233,051 | €299,388 | +€66,337 | +28.5% |
| Income taxes | 67/77 | €40,855 | €56,437 | +€15,582 | +38.1% |
| Profit (loss) for the period | 9904 | €192,196 | €242,951 | +€50,755 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €192,196 | €242,951 | +€50,755 | +26.4% |
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 22 October 2026 via checked.be.