PHARMADUO: 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.
PHARMADUO
Largest movements
- Intangible fixed assets -€36,900
down €36,900 (-12.8%), from €289,381 to €252,481
- Cash +€25,408
up €25,408 (+37.6%), from €67,517 to €92,926
mainly Net result for the year (+€79,964) and Depreciation (+€62,943)
- Tangible fixed assets -€25,080
down €25,080 (-12.9%), from €193,719 to €168,639
of which Other tangible fixed assets: -€23,266
- Receivables within one year -€19,951
down €19,951 (-36.7%), from €54,296 to €34,345
of which Other amounts receivable: -€13,321
- Receivables after one year +€14,471
new in 2025: €14,471
- Debts after one year -€92,609
down €92,609 (-22.4%), from €412,592 to €319,982
of which Financial debts: -€84,293
- Reserves +€79,964
up €79,964 (+30.8%), from €259,675 to €339,638
- Trade debts -€44,267
down €44,267 (-18.6%), from €237,872 to €193,605
- Gross operating margin +€106,092
up €106,092 (+48.8%), from €217,288 to €323,380
- Staff costs +€20,732
up €20,732 (+20.6%), from €100,794 to €121,526
- Taxes +€17,368
up €17,368 (+157%), from €11,084 to €28,452
- Depreciation +€12,554
up €12,554 (+24.9%), from €50,388 to €62,943
- Financial charges +€3,504
up €3,504 (+17.6%), from €19,922 to €23,426
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 | €1,050,721 | €994,671 | -€56,050 | -5.3% |
| Formation expenses | 20 | €108 | €0 | -€108 | -100% |
| Fixed assets | 21/28 | €483,100 | €421,120 | -€61,980 | -12.8% |
| Intangible fixed assets | 21 | €289,381 | €252,481 | -€36,900 | -12.8% |
| Tangible fixed assets | 22/27 | €193,719 | €168,639 | -€25,080 | -12.9% |
| Plant, machinery and equipment | 23 | €1,145 | €1,308 | +€162 | +14.2% |
| Furniture and vehicles | 24 | €6,939 | €4,963 | -€1,976 | -28.5% |
| Other tangible fixed assets | 26 | €185,635 | €162,368 | -€23,266 | -12.5% |
| Current assets | 29/58 | €567,513 | €573,551 | +€6,038 | +1.1% |
| Amounts receivable after more than one year | 29 | - | €14,471 | +€14,471 | |
| Trade receivables | 290 | - | €14,471 | +€14,471 | |
| Stocks and contracts in progress | 3 | €444,767 | €431,234 | -€13,533 | -3.0% |
| Stocks | 30/36 | €444,767 | €431,234 | -€13,533 | -3.0% |
| Amounts receivable within one year | 40/41 | €54,296 | €34,345 | -€19,951 | -36.7% |
| Trade receivables | 40 | €31,441 | €24,811 | -€6,630 | -21.1% |
| Other amounts receivable | 41 | €22,855 | €9,534 | -€13,321 | -58.3% |
| Cash at bank and in hand | 54/58 | €67,517 | €92,926 | +€25,408 | +37.6% |
| Deferred charges and accrued income | 490/1 | €933 | €575 | -€357 | -38.3% |
| Total equity and liabilities | 10/49 | €1,050,721 | €994,671 | -€56,050 | -5.3% |
| Equity | 10/15 | €284,464 | €364,428 | +€79,964 | +28.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €259,675 | €339,638 | +€79,964 | +30.8% |
| Distributable reserves | 133 | €259,675 | €339,638 | +€79,964 | +30.8% |
| Amounts payable | 17/49 | €766,257 | €630,243 | -€136,013 | -17.8% |
| Amounts payable after more than one year | 17 | €412,592 | €319,982 | -€92,609 | -22.4% |
| Financial debts | 170/4 | €404,276 | €319,982 | -€84,293 | -20.9% |
| Other amounts payable | 178/9 | €8,316 | €0 | -€8,316 | -100% |
| Amounts payable within one year | 42/48 | €353,278 | €309,263 | -€44,015 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €80,818 | €84,293 | +€3,476 | +4.3% |
| Financial debts | 43 | €3,494 | €3,517 | +€23 | +0.7% |
| Credit institutions | 430/8 | €3,494 | €3,517 | +€23 | +0.7% |
| Trade debts | 44 | €237,872 | €193,605 | -€44,267 | -18.6% |
| Suppliers | 440/4 | €237,872 | €193,605 | -€44,267 | -18.6% |
| Taxes, remuneration and social security | 45 | €26,094 | €27,847 | +€1,753 | +6.7% |
| Taxes | 450/3 | €3,300 | €14,686 | +€11,386 | +345% |
| Remuneration and social security | 454/9 | €22,793 | €13,160 | -€9,633 | -42.3% |
| Other amounts payable | 47/48 | €5,000 | €0 | -€5,000 | -100% |
| Accrued charges and deferred income | 492/3 | €387 | €998 | +€611 | +158% |
| Non-recurring operating income | 76A | €2,936 | €0 | -€2,936 | -100% |
| Remuneration, social security and pensions | 62 | €100,794 | €121,526 | +€20,732 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,388 | €62,943 | +€12,554 | +24.9% |
| Other operating charges | 640/8 | €5,090 | €3,057 | -€2,034 | -40.0% |
| Non-recurring operating charges | 66A | €0 | €4,169 | +€4,169 | |
| Gross operating margin | 9900 | €217,288 | €323,380 | +€106,092 | +48.8% |
| Operating profit (loss) | 9901 | €61,016 | €131,686 | +€70,670 | +116% |
| Financial income | 75/76B | €167 | €155 | -€12 | -7.2% |
| Recurring financial income | 75 | €167 | €155 | -€12 | -7.2% |
| Financial charges | 65/66B | €19,922 | €23,426 | +€3,504 | +17.6% |
| Recurring financial charges | 65 | €19,922 | €23,426 | +€3,504 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €41,261 | €108,415 | +€67,154 | +163% |
| Income taxes | 67/77 | €11,084 | €28,452 | +€17,368 | +157% |
| Profit (loss) for the period | 9904 | €30,178 | €79,964 | +€49,786 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €30,178 | €79,964 | +€49,786 | +165% |
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 15 October 2026 via checked.be.