PHARMAELA: 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.
PHARMAELA
Largest movements
- Receivables within one year +€13,104
up €13,104 (+21.2%), from €61,782 to €74,886
of which Other amounts receivable: +€28,257
- Tangible fixed assets -€10,391
down €10,391 (-12.1%), from €86,085 to €75,695
of which Other tangible fixed assets: -€10,000
- Intangible fixed assets -€6,540
down €6,540 (-28.2%), from €23,163 to €16,623
- Cash -€4,637
down €4,637 (-34.4%), from €13,472 to €8,836
mainly Net result for the year (-€30,599) and Trade debts (-€18,412)
- Stocks and contracts +€3,635
up €3,635 (+3.5%), from €105,327 to €108,963
- Debts after one year +€30,829
up €30,829 (+77.3%), from €39,868 to €70,696
of which Financial debts: +€47,471
- Profit (loss) carried forward -€30,599
down €30,599, from €1,788 to -€28,810
- Current portion of long-term debt +€19,143
up €19,143 (+76.8%), from €24,941 to €44,084
- Trade debts -€18,412
down €18,412 (-9.7%), from €189,848 to €171,436
- Tax, wage and social debts -€7,291
down €7,291 (-38.8%), from €18,800 to €11,509
of which Remuneration and social security: -€4,286
- Gross operating margin -€70,472
down €70,472 (-57.8%), from €121,940 to €51,469
- Staff costs -€24,709
down €24,709 (-32.6%), from €75,787 to €51,078
- Depreciation -€12,640
down €12,640 (-42.7%), from €29,571 to €16,931
- Financial charges +€4,819
up €4,819 (+58.2%), from €8,278 to €13,097
- Other operating charges -€4,139
down €4,139 (-66.9%), from €6,186 to €2,047
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 | €290,207 | €286,114 | -€4,093 | -1.4% |
| Fixed assets | 21/28 | €109,453 | €92,522 | -€16,931 | -15.5% |
| Intangible fixed assets | 21 | €23,163 | €16,623 | -€6,540 | -28.2% |
| Tangible fixed assets | 22/27 | €86,085 | €75,695 | -€10,391 | -12.1% |
| Furniture and vehicles | 24 | €669 | €278 | -€391 | -58.4% |
| Other tangible fixed assets | 26 | €85,417 | €75,417 | -€10,000 | -11.7% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €180,754 | €193,592 | +€12,837 | +7.1% |
| Stocks and contracts in progress | 3 | €105,327 | €108,963 | +€3,635 | +3.5% |
| Stocks | 30/36 | €105,327 | €108,963 | +€3,635 | +3.5% |
| Amounts receivable within one year | 40/41 | €61,782 | €74,886 | +€13,104 | +21.2% |
| Trade receivables | 40 | €57,952 | €42,799 | -€15,153 | -26.1% |
| Other amounts receivable | 41 | €3,830 | €32,087 | +€28,257 | +737.8% |
| Cash at bank and in hand | 54/58 | €13,472 | €8,836 | -€4,637 | -34.4% |
| Deferred charges and accrued income | 490/1 | €173 | €907 | +€735 | +425.2% |
| Total equity and liabilities | 10/49 | €290,207 | €286,114 | -€4,093 | -1.4% |
| Equity | 10/15 | €11,788 | -€18,810 | -€30,599 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,788 | -€28,810 | -€30,599 | |
| Amounts payable | 17/49 | €278,419 | €304,924 | +€26,505 | +9.5% |
| Amounts payable after more than one year | 17 | €39,868 | €70,696 | +€30,829 | +77.3% |
| Financial debts | 170/4 | - | €47,471 | +€47,471 | |
| Other amounts payable | 178/9 | €39,868 | €23,226 | -€16,642 | -41.7% |
| Amounts payable within one year | 42/48 | €236,152 | €227,028 | -€9,123 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €24,941 | €44,084 | +€19,143 | +76.8% |
| Trade debts | 44 | €189,848 | €171,436 | -€18,412 | -9.7% |
| Suppliers | 440/4 | €189,848 | €171,436 | -€18,412 | -9.7% |
| Taxes, remuneration and social security | 45 | €18,800 | €11,509 | -€7,291 | -38.8% |
| Taxes | 450/3 | €3,461 | €455 | -€3,005 | -86.8% |
| Remuneration and social security | 454/9 | €15,339 | €11,053 | -€4,286 | -27.9% |
| Other amounts payable | 47/48 | €2,564 | - | -€2,564 | |
| Accrued charges and deferred income | 492/3 | €2,400 | €7,200 | +€4,800 | +200.0% |
| Remuneration, social security and pensions | 62 | €75,787 | €51,078 | -€24,709 | -32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,571 | €16,931 | -€12,640 | -42.7% |
| Other operating charges | 640/8 | €6,186 | €2,047 | -€4,139 | -66.9% |
| Gross operating margin | 9900 | €121,940 | €51,469 | -€70,472 | -57.8% |
| Operating profit (loss) | 9901 | €10,397 | -€18,587 | -€28,984 | |
| Financial income | 75/76B | €669 | €994 | +€325 | +48.5% |
| Recurring financial income | 75 | €669 | €994 | +€325 | +48.5% |
| Financial charges | 65/66B | €8,278 | €13,097 | +€4,819 | +58.2% |
| Recurring financial charges | 65 | €8,278 | €13,097 | +€4,819 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €2,788 | -€30,689 | -€33,477 | |
| Income taxes | 67/77 | €1,000 | -€90 | -€1,090 | |
| Profit (loss) for the period | 9904 | €1,788 | -€30,599 | -€32,387 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,788 | -€30,599 | -€32,387 |
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 30 September 2026 via checked.be.