Pharmada: 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.
Pharmada
Largest movements
- Cash +€41,745
up €41,745 (+138%), from €30,216 to €71,962
mainly Other debts (+€387,724) and Net result for the year (+€83,597)
- Receivables within one year +€18,490
new in 2025: €18,490
- Current portion of long-term debt -€392,843
down €392,843 (-100%), from €392,843 to €0
- Other debts +€387,724
up €387,724 (+318%), from €121,859 to €509,583
- Reserves +€82,764
up €82,764 (+102%), from €81,257 to €164,021
- Debts after one year -€42,823
down €42,823 (-6.4%), from €665,823 to €623,000
- Tax, wage and social debts +€25,263
up €25,263 (+282%), from €8,951 to €34,214
- Financial charges -€5,188
down €5,188 (-30.6%), from €16,967 to €11,779
- Gross operating margin -€4,483
down €4,483 (-3.7%), from €121,569 to €117,086
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 | €1,276,216 | €1,336,527 | +€60,311 | +4.7% |
| Fixed assets | 21/28 | €1,246,000 | €1,246,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,246,000 | €1,246,000 | = | 0.0% |
| Current assets | 29/58 | €30,216 | €90,527 | +€60,311 | +200% |
| Amounts receivable within one year | 40/41 | - | €18,490 | +€18,490 | |
| Other amounts receivable | 41 | - | €18,490 | +€18,490 | |
| Cash at bank and in hand | 54/58 | €30,216 | €71,962 | +€41,745 | +138% |
| Deferred charges and accrued income | 490/1 | - | €75 | +€75 | |
| Total equity and liabilities | 10/49 | €1,276,216 | €1,336,527 | +€60,311 | +4.7% |
| Equity | 10/15 | €86,257 | €169,021 | +€82,764 | +96.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,257 | €164,021 | +€82,764 | +102% |
| Distributable reserves | 133 | €81,257 | €164,021 | +€82,764 | +102% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,189,960 | €1,167,507 | -€22,453 | -1.9% |
| Amounts payable after more than one year | 17 | €665,823 | €623,000 | -€42,823 | -6.4% |
| Financial debts | 170/4 | €665,823 | €623,000 | -€42,823 | -6.4% |
| Amounts payable within one year | 42/48 | €524,137 | €544,507 | +€20,370 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €392,843 | €0 | -€392,843 | -100% |
| Trade debts | 44 | €484 | €710 | +€226 | +46.6% |
| Suppliers | 440/4 | €484 | €710 | +€226 | +46.6% |
| Taxes, remuneration and social security | 45 | €8,951 | €34,214 | +€25,263 | +282% |
| Taxes | 450/3 | €8,951 | €34,214 | +€25,263 | +282% |
| Other amounts payable | 47/48 | €121,859 | €509,583 | +€387,724 | +318% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €859 | €0 | -€859 | -100% |
| Other operating charges | 640/8 | €922 | €400 | -€522 | -56.6% |
| Gross operating margin | 9900 | €121,569 | €117,086 | -€4,483 | -3.7% |
| Operating profit (loss) | 9901 | €119,788 | €116,686 | -€3,101 | -2.6% |
| Financial income | 75/76B | - | €340 | +€340 | |
| Recurring financial income | 75 | - | €340 | +€340 | |
| Financial charges | 65/66B | €16,967 | €11,779 | -€5,188 | -30.6% |
| Recurring financial charges | 65 | €16,967 | €11,779 | -€5,188 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €102,821 | €105,248 | +€2,427 | +2.4% |
| Income taxes | 67/77 | €20,705 | €21,651 | +€946 | +4.6% |
| Profit (loss) for the period | 9904 | €82,116 | €83,597 | +€1,481 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,116 | €83,597 | +€1,481 | +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 17 October 2026 via checked.be.