Pharmaceutica: 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.
What changed
Pharmaceutica
NACE 47.730, Retail sale of pharmaceutical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€22,515
2024 · €10,093+€12,422
Equity
€2.9m
2024 · €3.4m-€508,974
Cash
€447,954
2024 · €487,958-€40,004
Balance sheet total
€3.8m
2024 · €4.4m-€586,177
Largest movements
Assets
- Receivables within one year -€460,335
down €460,335 (-18.8%), from €2.4m to €2.0m
of which Other amounts receivable: -€410,400
- Tangible fixed assets -€81,929
down €81,929 (-6.9%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€51,745
Equity and liabilities
- Reserves -€508,974
down €508,974 (-15.2%), from €3.3m to €2.8m
of which Distributable reserves: -€508,974
- Trade debts +€120,698
up €120,698 (+95.8%), from €125,954 to €246,652
- Current portion of long-term debt -€90,330
down €90,330 (-15.3%), from €589,985 to €499,654
- Debts after one year -€52,171
down €52,171 (-26.0%), from €200,936 to €148,765
Income statement
- Financial charges -€16,886
down €16,886 (-31.9%), from €52,976 to €36,090
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.
Result 2024
€10,093
Gross operating margin
+€3,556
Staff costs
+€1,906
Depreciation
+€52
Other operating charges
-€2,139
Financial income
-€5,211
Financial charges
+€16,886
Taxes
-€2,628
Result 2025
€22,515
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.
From operations
+€709,698
Investment
-€70,277
Financing
-€679,426
Cash 2024
€487,958
From operations (derived)
+€709,698
Net result for the year
+€22,515
Depreciation
+€165,323
Stocks and contracts
-€29,541
Receivables within one year
+€460,335
Deferred charges and accrued income
+€20,333
Trade debts
+€120,698
Tax, wage and social debts
-€2,232
Advances received
+€284
Other debts
-€42,581
Accrued charges and deferred income
-€5,435
Investment (derived)
-€70,277
Investment in fixed assets (net)
-€70,277
Financing
-€679,426
Debts after one year
-€52,171
Current portion of long-term debt
-€90,330
Short-term financial debts
-€5,435
Contributions, distributions and other
-€531,489
Cash 2025
€447,954
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,429,873 | €3,843,696 | -€586,177 | -13.2% |
| Fixed assets | 21/28 | €1,247,610 | €1,152,563 | -€95,046 | -7.6% |
| Intangible fixed assets | 21 | €33,394 | €20,277 | -€13,118 | -39.3% |
| Tangible fixed assets | 22/27 | €1,187,693 | €1,105,765 | -€81,929 | -6.9% |
| Land and buildings | 22 | €631,055 | €599,116 | -€31,939 | -5.1% |
| Plant, machinery and equipment | 23 | €154,339 | €102,594 | -€51,745 | -33.5% |
| Furniture and vehicles | 24 | €78,269 | €65,095 | -€13,174 | -16.8% |
| Leasing and similar rights | 25 | - | €44,799 | +€44,799 | |
| Other tangible fixed assets | 26 | €324,030 | €294,162 | -€29,868 | -9.2% |
| Financial fixed assets | 28 | €26,522 | €26,522 | = | 0.0% |
| Current assets | 29/58 | €3,182,263 | €2,691,133 | -€491,131 | -15.4% |
| Stocks and contracts in progress | 3 | €224,014 | €253,555 | +€29,541 | +13.2% |
| Stocks | 30/36 | €224,014 | €253,555 | +€29,541 | +13.2% |
| Amounts receivable within one year | 40/41 | €2,446,425 | €1,986,090 | -€460,335 | -18.8% |
| Trade receivables | 40 | €585,081 | €535,146 | -€49,935 | -8.5% |
| Other amounts receivable | 41 | €1,861,344 | €1,450,944 | -€410,400 | -22.0% |
| Cash at bank and in hand | 54/58 | €487,958 | €447,954 | -€40,004 | -8.2% |
| Deferred charges and accrued income | 490/1 | €23,867 | €3,534 | -€20,333 | -85.2% |
| Total equity and liabilities | 10/49 | €4,429,873 | €3,843,696 | -€586,177 | -13.2% |
| Equity | 10/15 | €3,366,407 | €2,857,433 | -€508,974 | -15.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,347,815 | €2,838,841 | -€508,974 | -15.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,190 | €1,190 | = | 0.0% |
| Distributable reserves | 133 | €3,346,625 | €2,837,651 | -€508,974 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,063,466 | €986,263 | -€77,203 | -7.3% |
| Amounts payable after more than one year | 17 | €200,936 | €148,765 | -€52,171 | -26.0% |
| Financial debts | 170/4 | €200,936 | €148,765 | -€52,171 | -26.0% |
| Amounts payable within one year | 42/48 | €857,095 | €837,498 | -€19,597 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €589,985 | €499,654 | -€90,330 | -15.3% |
| Financial debts | 43 | €5,435 | €0 | -€5,435 | -100.0% |
| Other loans | 439 | €5,435 | €0 | -€5,435 | -100.0% |
| Trade debts | 44 | €125,954 | €246,652 | +€120,698 | +95.8% |
| Suppliers | 440/4 | €125,954 | €246,652 | +€120,698 | +95.8% |
| Advances received on contracts in progress | 46 | - | €284 | +€284 | |
| Taxes, remuneration and social security | 45 | €93,140 | €90,908 | -€2,232 | -2.4% |
| Taxes | 450/3 | €178 | €229 | +€51 | +28.6% |
| Remuneration and social security | 454/9 | €92,962 | €90,679 | -€2,283 | -2.5% |
| Other amounts payable | 47/48 | €42,581 | €0 | -€42,581 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,435 | €0 | -€5,435 | -100.0% |
| Remuneration, social security and pensions | 62 | €797,741 | €795,835 | -€1,906 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,375 | €165,323 | -€52 | 0.0% |
| Other operating charges | 640/8 | €9,804 | €11,943 | +€2,139 | +21.8% |
| Gross operating margin | 9900 | €1,003,653 | €1,007,210 | +€3,556 | +0.4% |
| Operating profit (loss) | 9901 | €30,734 | €34,108 | +€3,374 | +11.0% |
| Financial income | 75/76B | €39,195 | €33,984 | -€5,211 | -13.3% |
| Recurring financial income | 75 | €39,195 | €33,984 | -€5,211 | -13.3% |
| Financial charges | 65/66B | €52,976 | €36,090 | -€16,886 | -31.9% |
| Recurring financial charges | 65 | €52,976 | €36,090 | -€16,886 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €16,953 | €32,003 | +€15,050 | +88.8% |
| Income taxes | 67/77 | €6,860 | €9,488 | +€2,628 | +38.3% |
| Profit (loss) for the period | 9904 | €10,093 | €22,515 | +€12,422 | +123.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,093 | €22,515 | +€12,422 | +123.1% |
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 11 October 2026 via checked.be.