PHARMABAK: 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.
PHARMABAK
Largest movements
- Receivables within one year -€42,518
down €42,518 (-19.1%), from €222,941 to €180,422
of which Trade receivables: -€47,102
- Deferred charges and accrued income -€19,471
no longer reported in 2025 (was €19,471)
- Cash +€11,351
up €11,351 (+84.2%), from €13,487 to €24,837
mainly Receivables within one year (+€42,518) and Advances received (+€25,791)
- Tangible fixed assets -€8,071
down €8,071 (-12.1%), from €66,873 to €58,802
of which Plant, machinery and equipment: -€5,845
- Intangible fixed assets -€7,005
down €7,005 (-16.7%), from €41,938 to €34,933
- Trade debts -€42,877
down €42,877 (-31.5%), from €136,043 to €93,166
- Profit (loss) carried forward -€29,717
down €29,717 (-49.3%), from €60,265 to €30,548
- Advances received +€25,791
new in 2025: €25,791
- Tax, wage and social debts -€16,600
no longer reported in 2025 (was €16,600)
of which Taxes: -€14,400
- Gross operating margin -€26,140
down €26,140, from €16,087 to -€10,053
- Depreciation +€5,959
up €5,959 (+65.4%), from €9,118 to €15,076
- Staff costs +€2,080
up €2,080 (+1548.4%), from €134 to €2,214
- Other operating charges +€1,075
up €1,075 (+277.6%), from €387 to €1,463
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 | €423,230 | €357,515 | -€65,715 | -15.5% |
| Fixed assets | 21/28 | €147,332 | €132,255 | -€15,076 | -10.2% |
| Intangible fixed assets | 21 | €41,938 | €34,933 | -€7,005 | -16.7% |
| Tangible fixed assets | 22/27 | €66,873 | €58,802 | -€8,071 | -12.1% |
| Plant, machinery and equipment | 23 | €46,402 | €40,558 | -€5,845 | -12.6% |
| Other tangible fixed assets | 26 | €20,471 | €18,244 | -€2,227 | -10.9% |
| Financial fixed assets | 28 | €38,520 | €38,520 | = | 0.0% |
| Current assets | 29/58 | €275,898 | €225,260 | -€50,639 | -18.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €222,941 | €180,422 | -€42,518 | -19.1% |
| Trade receivables | 40 | €96,063 | €48,961 | -€47,102 | -49.0% |
| Other amounts receivable | 41 | €126,878 | €131,461 | +€4,584 | +3.6% |
| Cash at bank and in hand | 54/58 | €13,487 | €24,837 | +€11,351 | +84.2% |
| Deferred charges and accrued income | 490/1 | €19,471 | - | -€19,471 | |
| Total equity and liabilities | 10/49 | €423,230 | €357,515 | -€65,715 | -15.5% |
| Equity | 10/15 | €80,725 | €51,008 | -€29,717 | -36.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,265 | €30,548 | -€29,717 | -49.3% |
| Amounts payable | 17/49 | €342,505 | €306,507 | -€35,998 | -10.5% |
| Amounts payable within one year | 42/48 | €342,505 | €306,507 | -€35,998 | -10.5% |
| Trade debts | 44 | €136,043 | €93,166 | -€42,877 | -31.5% |
| Suppliers | 440/4 | €136,043 | €93,166 | -€42,877 | -31.5% |
| Advances received on contracts in progress | 46 | - | €25,791 | +€25,791 | |
| Taxes, remuneration and social security | 45 | €16,600 | - | -€16,600 | |
| Taxes | 450/3 | €14,400 | - | -€14,400 | |
| Remuneration and social security | 454/9 | €2,200 | - | -€2,200 | |
| Other amounts payable | 47/48 | €189,862 | €187,550 | -€2,312 | -1.2% |
| Remuneration, social security and pensions | 62 | €134 | €2,214 | +€2,080 | +1548.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,118 | €15,076 | +€5,959 | +65.4% |
| Other operating charges | 640/8 | €387 | €1,463 | +€1,075 | +277.6% |
| Non-recurring operating charges | 66A | €1,564 | - | -€1,564 | |
| Gross operating margin | 9900 | €16,087 | -€10,053 | -€26,140 | |
| Operating profit (loss) | 9901 | €4,884 | -€28,806 | -€33,690 | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €806 | €911 | +€105 | +13.0% |
| Recurring financial charges | 65 | €806 | €911 | +€105 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | €4,082 | -€29,717 | -€33,799 | |
| Profit (loss) for the period | 9904 | €4,082 | -€29,717 | -€33,799 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,082 | -€29,717 | -€33,799 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.