PHARMACIES ENGELS: 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.
PHARMACIES ENGELS
Largest movements
- Tangible fixed assets +€405,783
up €405,783 (+186%), from €217,794 to €623,578
of which Plant, machinery and equipment: +€523,424
- Cash -€334,507
down €334,507 (-52.3%), from €640,073 to €305,566
mainly Investment in fixed assets (net) (-€466,143) and Current investments (-€130,000)
- Current investments +€130,000
up €130,000 (+200%), from €65,000 to €195,000
- Stocks and contracts +€64,628
up €64,628 (+23.3%), from €276,969 to €341,597
- Receivables within one year -€28,232
down €28,232 (-11.9%), from €236,733 to €208,501
of which Trade receivables: -€14,222
- Debts after one year +€142,019
up €142,019 (+118%), from €120,736 to €262,755
- Reserves +€128,800
up €128,800 (+14.2%), from €907,460 to €1.0m
of which Distributable reserves: +€133,000
- Trade debts -€91,788
down €91,788 (-47.4%), from €193,729 to €101,941
- Other debts +€81,430
up €81,430 (+179%), from €45,377 to €126,807
- Tax, wage and social debts -€17,522
down €17,522 (-15.1%), from €116,299 to €98,777
of which Taxes: -€15,804
- Depreciation +€36,782
up €36,782 (+156%), from €23,578 to €60,359
- Taxes -€34,588
down €34,588 (-32.6%), from €106,214 to €71,625
- Staff costs +€24,681
up €24,681 (+6.6%), from €375,426 to €400,106
- Financial charges +€11,993
up €11,993 (+212%), from €5,654 to €17,647
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 | €1,444,375 | €1,691,367 | +€246,992 | +17.1% |
| Fixed assets | 21/28 | €217,794 | €623,578 | +€405,783 | +186% |
| Tangible fixed assets | 22/27 | €217,794 | €623,578 | +€405,783 | +186% |
| Plant, machinery and equipment | 23 | €42,362 | €565,786 | +€523,424 | +1,236% |
| Furniture and vehicles | 24 | €71,848 | €57,792 | -€14,057 | -19.6% |
| Assets under construction and advance payments | 27 | €103,584 | - | -€103,584 | |
| Current assets | 29/58 | €1,226,581 | €1,067,790 | -€158,791 | -12.9% |
| Stocks and contracts in progress | 3 | €276,969 | €341,597 | +€64,628 | +23.3% |
| Stocks | 30/36 | €276,969 | €341,597 | +€64,628 | +23.3% |
| Amounts receivable within one year | 40/41 | €236,733 | €208,501 | -€28,232 | -11.9% |
| Trade receivables | 40 | €204,328 | €190,106 | -€14,222 | -7.0% |
| Other amounts receivable | 41 | €32,405 | €18,395 | -€14,010 | -43.2% |
| Current investments | 50/53 | €65,000 | €195,000 | +€130,000 | +200% |
| Cash at bank and in hand | 54/58 | €640,073 | €305,566 | -€334,507 | -52.3% |
| Deferred charges and accrued income | 490/1 | €7,806 | €17,126 | +€9,320 | +119% |
| Total equity and liabilities | 10/49 | €1,444,375 | €1,691,367 | +€246,992 | +17.1% |
| Equity | 10/15 | €926,311 | €1,055,858 | +€129,547 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €907,460 | €1,036,260 | +€128,800 | +14.2% |
| Tax-exempt reserves | 132 | €12,600 | €8,400 | -€4,200 | -33.3% |
| Distributable reserves | 133 | €894,860 | €1,027,860 | +€133,000 | +14.9% |
| Profit (loss) carried forward | 14 | €251 | €998 | +€747 | +298% |
| Provisions and deferred taxes | 16 | €4,200 | €2,800 | -€1,400 | -33.3% |
| Deferred taxes | 168 | €4,200 | €2,800 | -€1,400 | -33.3% |
| Amounts payable | 17/49 | €513,864 | €632,709 | +€118,845 | +23.1% |
| Amounts payable after more than one year | 17 | €120,736 | €262,755 | +€142,019 | +118% |
| Financial debts | 170/4 | €120,736 | €262,755 | +€142,019 | +118% |
| Amounts payable within one year | 42/48 | €390,638 | €363,505 | -€27,133 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €35,233 | €35,981 | +€748 | +2.1% |
| Trade debts | 44 | €193,729 | €101,941 | -€91,788 | -47.4% |
| Suppliers | 440/4 | €193,729 | €101,941 | -€91,788 | -47.4% |
| Taxes, remuneration and social security | 45 | €116,299 | €98,777 | -€17,522 | -15.1% |
| Taxes | 450/3 | €54,748 | €38,944 | -€15,804 | -28.9% |
| Remuneration and social security | 454/9 | €61,551 | €59,833 | -€1,719 | -2.8% |
| Other amounts payable | 47/48 | €45,377 | €126,807 | +€81,430 | +179% |
| Accrued charges and deferred income | 492/3 | €2,490 | €6,448 | +€3,958 | +159% |
| Remuneration, social security and pensions | 62 | €375,426 | €400,106 | +€24,681 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,578 | €60,359 | +€36,782 | +156% |
| Other operating charges | 640/8 | €1,022 | €945 | -€78 | -7.6% |
| Gross operating margin | 9900 | €740,431 | €733,151 | -€7,281 | -1.0% |
| Operating profit (loss) | 9901 | €340,405 | €271,740 | -€68,665 | -20.2% |
| Financial income | 75/76B | €7,650 | €3,513 | -€4,137 | -54.1% |
| Recurring financial income | 75 | €7,650 | €3,513 | -€4,137 | -54.1% |
| Financial charges | 65/66B | €5,654 | €17,647 | +€11,993 | +212% |
| Recurring financial charges | 65 | €5,654 | €17,647 | +€11,993 | +212% |
| Profit (loss) for the period before taxes | 9903 | €342,401 | €257,605 | -€84,795 | -24.8% |
| Transfer from deferred taxes | 780 | €1,400 | €1,400 | = | 0.0% |
| Income taxes | 67/77 | €106,214 | €71,625 | -€34,588 | -32.6% |
| Profit (loss) for the period | 9904 | €237,587 | €187,380 | -€50,207 | -21.1% |
| Transfer from tax-exempt reserves | 789 | €4,200 | €4,200 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €241,787 | €191,580 | -€50,207 | -20.8% |
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 26 October 2026 via checked.be.