PHARMADEC: what changed
Two fiscal 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.
PHARMADEC
Largest movements
- Current investments +€947,000
up €947,000 (+1214.1%), from €78,000 to €1.0m
- Cash -€915,134
down €915,134 (-89.2%), from €1.0m to €110,425
mainly Current investments (-€947,000) and Contributions, distributions and other (-€129,675)
- Receivables within one year +€43,218
up €43,218 (+73.5%), from €58,790 to €102,009
of which Trade receivables: +€40,828
- Tangible fixed assets +€20,254
new in 2025: €20,254
of which Furniture and vehicles: +€16,959
- Other debts +€102,732
up €102,732 (+749.2%), from €13,713 to €116,444
- Reserves -€25,940
down €25,940 (-2.2%), from €1.2m to €1.2m
of which Distributable reserves: -€25,940
- Trade debts +€24,247
up €24,247 (+43.4%), from €55,871 to €80,118
- Staff costs +€54,971
new in 2025: €54,971
- Financial income +€48,927
up €48,927 (+1797.0%), from €2,723 to €51,649
- Taxes -€20,661
down €20,661 (-56.2%), from €36,793 to €16,133
- Gross operating margin -€16,102
down €16,102 (-11.0%), from €146,381 to €130,279
- Other operating charges +€2,003
up €2,003 (+175.3%), from €1,143 to €3,145
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,319,411 | €1,420,805 | +€101,394 | +7.7% |
| Fixed assets | 21/28 | - | €20,254 | +€20,254 | |
| Tangible fixed assets | 22/27 | - | €20,254 | +€20,254 | |
| Plant, machinery and equipment | 23 | - | €3,295 | +€3,295 | |
| Furniture and vehicles | 24 | - | €16,959 | +€16,959 | |
| Current assets | 29/58 | €1,319,411 | €1,400,551 | +€81,140 | +6.1% |
| Stocks and contracts in progress | 3 | €146,938 | €142,437 | -€4,502 | -3.1% |
| Stocks | 30/36 | €146,938 | €142,437 | -€4,502 | -3.1% |
| Amounts receivable within one year | 40/41 | €58,790 | €102,009 | +€43,218 | +73.5% |
| Trade receivables | 40 | €55,229 | €96,056 | +€40,828 | +73.9% |
| Other amounts receivable | 41 | €3,562 | €5,952 | +€2,390 | +67.1% |
| Current investments | 50/53 | €78,000 | €1,025,000 | +€947,000 | +1214.1% |
| Cash at bank and in hand | 54/58 | €1,025,559 | €110,425 | -€915,134 | -89.2% |
| Deferred charges and accrued income | 490/1 | €10,123 | €20,681 | +€10,558 | +104.3% |
| Total equity and liabilities | 10/49 | €1,319,411 | €1,420,805 | +€101,394 | +7.7% |
| Equity | 10/15 | €1,238,122 | €1,212,182 | -€25,940 | -2.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,176,122 | €1,150,182 | -€25,940 | -2.2% |
| Non-distributable reserves | 130/1 | €30,250 | €30,250 | = | 0.0% |
| Legal reserve | 130 | €30,250 | €30,250 | = | 0.0% |
| Distributable reserves | 133 | €1,145,872 | €1,119,932 | -€25,940 | -2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €81,289 | €208,623 | +€127,334 | +156.6% |
| Amounts payable within one year | 42/48 | €78,268 | €204,175 | +€125,907 | +160.9% |
| Trade debts | 44 | €55,871 | €80,118 | +€24,247 | +43.4% |
| Suppliers | 440/4 | €55,871 | €80,118 | +€24,247 | +43.4% |
| Taxes, remuneration and social security | 45 | €8,684 | €7,612 | -€1,071 | -12.3% |
| Taxes | 450/3 | €5,684 | €0 | -€5,684 | -100.0% |
| Remuneration and social security | 454/9 | €3,000 | €7,612 | +€4,612 | +153.7% |
| Other amounts payable | 47/48 | €13,713 | €116,444 | +€102,732 | +749.2% |
| Accrued charges and deferred income | 492/3 | €3,021 | €4,448 | +€1,427 | +47.2% |
| Remuneration, social security and pensions | 62 | - | €54,971 | +€54,971 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,684 | +€1,684 | |
| Other operating charges | 640/8 | €1,143 | €3,145 | +€2,003 | +175.3% |
| Gross operating margin | 9900 | €146,381 | €130,279 | -€16,102 | -11.0% |
| Operating profit (loss) | 9901 | €145,238 | €70,478 | -€74,760 | -51.5% |
| Financial income | 75/76B | €2,723 | €51,649 | +€48,927 | +1797.0% |
| Recurring financial income | 75 | €2,723 | €51,649 | +€48,927 | +1797.0% |
| Financial charges | 65/66B | €3,284 | €2,260 | -€1,024 | -31.2% |
| Recurring financial charges | 65 | €3,284 | €2,260 | -€1,024 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €144,677 | €119,868 | -€24,810 | -17.1% |
| Income taxes | 67/77 | €36,793 | €16,133 | -€20,661 | -56.2% |
| Profit (loss) for the period | 9904 | €107,884 | €103,735 | -€4,149 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,884 | €103,735 | -€4,149 | -3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.