PHARMAD: 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.
PHARMAD
Largest movements
- Receivables within one year +€97,097
up €97,097 (+448%), from €21,656 to €118,754
of which Trade receivables: +€97,080
- Cash -€53,577
down €53,577 (-86.6%), from €61,902 to €8,325
mainly Contributions, distributions and other (-€688,233) and Receivables within one year (-€97,097)
- Tangible fixed assets -€20,393
down €20,393 (-20.5%), from €99,263 to €78,870
of which Furniture and vehicles: -€13,685
- Reserves -€543,396
down €543,396 (-100%), from €543,396 to €0
of which Distributable reserves: -€543,396
- Other debts +€500,659
up €500,659 (+164%), from €305,048 to €805,707
- Advances received +€78,000
up €78,000, from €0 to €78,000
- Debts after one year -€11,521
down €11,521 (-9.7%), from €118,281 to €106,760
- Gross operating margin +€26,129
up €26,129 (+13.7%), from €190,568 to €216,697
- Taxes +€13,051
up €13,051 (+33.3%), from €39,157 to €52,208
- Financial income +€5,107
up €5,107 (+3,191,569%), from €0 to €5,107
of which Non-recurring financial income: +€5,000
- Depreciation +€3,406
up €3,406 (+19.1%), from €17,856 to €21,262
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 | €1,024,374 | €1,048,512 | +€24,138 | +2.4% |
| Fixed assets | 21/28 | €939,581 | €919,187 | -€20,393 | -2.2% |
| Tangible fixed assets | 22/27 | €99,263 | €78,870 | -€20,393 | -20.5% |
| Plant, machinery and equipment | 23 | €4,142 | €3,940 | -€201 | -4.9% |
| Furniture and vehicles | 24 | €34,771 | €21,086 | -€13,685 | -39.4% |
| Other tangible fixed assets | 26 | €60,350 | €53,843 | -€6,507 | -10.8% |
| Financial fixed assets | 28 | €840,318 | €840,318 | = | 0.0% |
| Current assets | 29/58 | €84,793 | €129,325 | +€44,532 | +52.5% |
| Amounts receivable within one year | 40/41 | €21,656 | €118,754 | +€97,097 | +448% |
| Trade receivables | 40 | €21,656 | €118,737 | +€97,080 | +448% |
| Other amounts receivable | 41 | - | €17 | +€17 | |
| Cash at bank and in hand | 54/58 | €61,902 | €8,325 | -€53,577 | -86.6% |
| Deferred charges and accrued income | 490/1 | €1,235 | €2,246 | +€1,012 | +81.9% |
| Total equity and liabilities | 10/49 | €1,024,374 | €1,048,512 | +€24,138 | +2.4% |
| Equity | 10/15 | €563,396 | €20,000 | -€543,396 | -96.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €543,396 | €0 | -€543,396 | -100% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €543,396 | €0 | -€543,396 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €460,978 | €1,028,512 | +€567,535 | +123% |
| Amounts payable after more than one year | 17 | €118,281 | €106,760 | -€11,521 | -9.7% |
| Financial debts | 170/4 | €118,281 | €106,760 | -€11,521 | -9.7% |
| Amounts payable within one year | 42/48 | €340,893 | €921,257 | +€580,364 | +170% |
| Current portion of amounts payable after more than one year | 42 | €11,435 | €11,521 | +€86 | +0.8% |
| Trade debts | 44 | €3,394 | €1,325 | -€2,069 | -61.0% |
| Suppliers | 440/4 | €3,394 | €1,325 | -€2,069 | -61.0% |
| Advances received on contracts in progress | 46 | €0 | €78,000 | +€78,000 | |
| Taxes, remuneration and social security | 45 | €21,017 | €24,705 | +€3,688 | +17.5% |
| Taxes | 450/3 | €16,068 | €19,339 | +€3,272 | +20.4% |
| Remuneration and social security | 454/9 | €4,949 | €5,365 | +€416 | +8.4% |
| Other amounts payable | 47/48 | €305,048 | €805,707 | +€500,659 | +164% |
| Accrued charges and deferred income | 492/3 | €1,804 | €495 | -€1,309 | -72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,856 | €21,262 | +€3,406 | +19.1% |
| Other operating charges | 640/8 | €2,508 | €1,821 | -€687 | -27.4% |
| Gross operating margin | 9900 | €190,568 | €216,697 | +€26,129 | +13.7% |
| Operating profit (loss) | 9901 | €170,204 | €193,614 | +€23,410 | +13.8% |
| Financial income | 75/76B | €0 | €5,107 | +€5,107 | +3,191,569% |
| Recurring financial income | 75 | €0 | €107 | +€107 | +66,569% |
| Non-recurring financial income | 76B | - | €5,000 | +€5,000 | |
| Financial charges | 65/66B | €3,508 | €1,675 | -€1,833 | -52.3% |
| Recurring financial charges | 65 | €3,508 | €1,675 | -€1,833 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €166,696 | €197,045 | +€30,349 | +18.2% |
| Income taxes | 67/77 | €39,157 | €52,208 | +€13,051 | +33.3% |
| Profit (loss) for the period | 9904 | €127,539 | €144,837 | +€17,298 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €127,539 | €144,837 | +€17,298 | +13.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.