PHARMACOZ: 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
PHARMACOZ
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€122,569
2024 · €120,350+€2,219
Equity
€1.2m
2024 · €1.1m+€122,569
Cash
€803,507
2024 · €684,389+€119,118
Balance sheet total
€1.6m
2024 · €1.4m+€133,880
Largest movements
Assets
- Cash +€119,118
up €119,118 (+17.4%), from €684,389 to €803,507
mainly Net result for the year (+€122,569) and Depreciation (+€33,066)
Equity and liabilities
- Reserves +€122,300
up €122,300 (+11.8%), from €1.0m to €1.2m
of which Distributable reserves: +€122,300
- Trade debts +€23,689
up €23,689 (+23.0%), from €103,152 to €126,840
Income statement
- Staff costs +€10,025
up €10,025 (+7.6%), from €131,621 to €141,645
- Taxes -€6,885
down €6,885 (-13.9%), from €49,451 to €42,566
- Financial income +€5,793
up €5,793 (+72.9%), from €7,950 to €13,743
- Gross operating margin +€4,907
up €4,907 (+1.5%), from €331,649 to €336,555
- Write-downs +€4,547
up €4,547 (+295%), from €1,543 to €6,089
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
€120,350
Gross operating margin
+€4,907
Staff costs
-€10,025
Depreciation
-€1,167
Write-downs
-€4,547
Other operating charges
+€1,209
Financial income
+€5,793
Financial charges
-€836
Taxes
+€6,885
Result 2025
€122,569
raises the resultlowers the result
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.
From operations
+€153,757
Investment
-€22,639
Financing
-€12,000
Cash 2024
€684,389
From operations (derived)
+€153,757
Net result for the year
+€122,569
Depreciation
+€33,066
Stocks and contracts
-€3,275
Receivables within one year
-€11,111
Deferred charges and accrued income
-€10,803
Trade debts
+€23,689
Tax, wage and social debts
+€683
Smaller working-capital items
-€196
Other debts
-€865
Investment (derived)
-€22,639
Investment in fixed assets (net)
-€19,756
Current investments
-€2,883
Financing
-€12,000
Debts after one year
-€12,000
Cash 2025
€803,507
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,418,605 | €1,552,485 | +€133,880 | +9.4% |
| Fixed assets | 21/28 | €218,525 | €205,215 | -€13,310 | -6.1% |
| Tangible fixed assets | 22/27 | €216,215 | €205,215 | -€11,000 | -5.1% |
| Land and buildings | 22 | €158,980 | €139,681 | -€19,300 | -12.1% |
| Plant, machinery and equipment | 23 | €16,011 | €13,616 | -€2,394 | -15.0% |
| Furniture and vehicles | 24 | €41,224 | €51,918 | +€10,694 | +25.9% |
| Financial fixed assets | 28 | €2,310 | - | -€2,310 | |
| Current assets | 29/58 | €1,200,080 | €1,347,270 | +€147,190 | +12.3% |
| Stocks and contracts in progress | 3 | €111,047 | €114,321 | +€3,275 | +2.9% |
| Stocks | 30/36 | €111,047 | €114,321 | +€3,275 | +2.9% |
| Amounts receivable within one year | 40/41 | €21,871 | €32,982 | +€11,111 | +50.8% |
| Trade receivables | 40 | €9,065 | €13,289 | +€4,224 | +46.6% |
| Other amounts receivable | 41 | €12,806 | €19,693 | +€6,887 | +53.8% |
| Current investments | 50/53 | €238,885 | €241,768 | +€2,883 | +1.2% |
| Cash at bank and in hand | 54/58 | €684,389 | €803,507 | +€119,118 | +17.4% |
| Deferred charges and accrued income | 490/1 | €143,889 | €154,692 | +€10,803 | +7.5% |
| Total equity and liabilities | 10/49 | €1,418,605 | €1,552,485 | +€133,880 | +9.4% |
| Equity | 10/15 | €1,052,671 | €1,175,240 | +€122,569 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,033,630 | €1,155,930 | +€122,300 | +11.8% |
| Tax-exempt reserves | 132 | €356 | €356 | = | 0.0% |
| Distributable reserves | 133 | €1,033,274 | €1,155,574 | +€122,300 | +11.8% |
| Profit (loss) carried forward | 14 | €441 | €710 | +€269 | +60.9% |
| Amounts payable | 17/49 | €365,934 | €377,245 | +€11,311 | +3.1% |
| Amounts payable after more than one year | 17 | €232,500 | €220,500 | -€12,000 | -5.2% |
| Other amounts payable | 178/9 | €232,500 | €220,500 | -€12,000 | -5.2% |
| Amounts payable within one year | 42/48 | €133,314 | €156,745 | +€23,431 | +17.6% |
| Trade debts | 44 | €103,152 | €126,840 | +€23,689 | +23.0% |
| Suppliers | 440/4 | €103,152 | €126,840 | +€23,689 | +23.0% |
| Advances received on contracts in progress | 46 | €76 | - | -€76 | |
| Taxes, remuneration and social security | 45 | €23,616 | €24,299 | +€683 | +2.9% |
| Taxes | 450/3 | €5,012 | €2,973 | -€2,039 | -40.7% |
| Remuneration and social security | 454/9 | €18,604 | €21,326 | +€2,722 | +14.6% |
| Other amounts payable | 47/48 | €6,470 | €5,605 | -€865 | -13.4% |
| Accrued charges and deferred income | 492/3 | €120 | - | -€120 | |
| Remuneration, social security and pensions | 62 | €131,621 | €141,645 | +€10,025 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,899 | €33,066 | +€1,167 | +3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,543 | €6,089 | +€4,547 | +295% |
| Other operating charges | 640/8 | €4,278 | €3,069 | -€1,209 | -28.3% |
| Gross operating margin | 9900 | €331,649 | €336,555 | +€4,907 | +1.5% |
| Operating profit (loss) | 9901 | €162,308 | €152,685 | -€9,623 | -5.9% |
| Financial income | 75/76B | €7,950 | €13,743 | +€5,793 | +72.9% |
| Recurring financial income | 75 | €7,950 | €13,743 | +€5,793 | +72.9% |
| Financial charges | 65/66B | €456 | €1,293 | +€836 | +183% |
| Recurring financial charges | 65 | €456 | €1,293 | +€836 | +183% |
| Profit (loss) for the period before taxes | 9903 | €169,801 | €165,135 | -€4,666 | -2.7% |
| Income taxes | 67/77 | €49,451 | €42,566 | -€6,885 | -13.9% |
| Profit (loss) for the period | 9904 | €120,350 | €122,569 | +€2,219 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €120,350 | €122,569 | +€2,219 | +1.8% |
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 27 October 2026 via checked.be.