Pharmagrex: 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.
Pharmagrex
Largest movements
- Receivables within one year +€151,081
up €151,081 (+46.6%), from €324,485 to €475,566
of which Other amounts receivable: +€154,253
- Cash +€29,487
up €29,487 (+658%), from €4,481 to €33,968
mainly Net result for the year (+€284,105) and Tax, wage and social debts (+€81,867)
- Reserves +€219,105
up €219,105 (+24.7%), from €888,377 to €1.1m
of which Distributable reserves: +€219,105
- Tax, wage and social debts +€81,867
up €81,867 (+84.0%), from €97,479 to €179,347
- Other debts -€80,909
down €80,909 (-100%), from €80,909 to €0
- Current portion of long-term debt -€50,708
down €50,708 (-100%), from €50,708 to €0
- Gross operating margin +€80,307
up €80,307 (+25.1%), from €319,567 to €399,874
- Taxes +€29,963
up €29,963 (+29.8%), from €100,596 to €130,559
- Financial income +€26,419
up €26,419 (+2,118%), from €1,247 to €27,666
- Other operating charges -€11,146
down €11,146 (-90.9%), from €12,267 to €1,120
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 | €1,338,238 | €1,497,046 | +€158,808 | +11.9% |
| Fixed assets | 21/28 | €997,908 | €987,421 | -€10,487 | -1.1% |
| Tangible fixed assets | 22/27 | €10,487 | €0 | -€10,487 | -100% |
| Plant, machinery and equipment | 23 | €4,750 | €0 | -€4,750 | -100% |
| Furniture and vehicles | 24 | €5,737 | €0 | -€5,737 | -100% |
| Financial fixed assets | 28 | €987,421 | €987,421 | = | 0.0% |
| Current assets | 29/58 | €340,330 | €509,625 | +€169,295 | +49.7% |
| Amounts receivable within one year | 40/41 | €324,485 | €475,566 | +€151,081 | +46.6% |
| Trade receivables | 40 | €4,261 | €1,088 | -€3,172 | -74.5% |
| Other amounts receivable | 41 | €320,224 | €474,477 | +€154,253 | +48.2% |
| Cash at bank and in hand | 54/58 | €4,481 | €33,968 | +€29,487 | +658% |
| Deferred charges and accrued income | 490/1 | €11,364 | €91 | -€11,272 | -99.2% |
| Total equity and liabilities | 10/49 | €1,338,238 | €1,497,046 | +€158,808 | +11.9% |
| Equity | 10/15 | €1,088,377 | €1,307,483 | +€219,105 | +20.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €888,377 | €1,107,483 | +€219,105 | +24.7% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €868,377 | €1,087,483 | +€219,105 | +25.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €249,860 | €189,563 | -€60,297 | -24.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €242,846 | €189,563 | -€53,283 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €50,708 | €0 | -€50,708 | -100% |
| Trade debts | 44 | €0 | €10,217 | +€10,217 | |
| Suppliers | 440/4 | €0 | €10,217 | +€10,217 | |
| Advances received on contracts in progress | 46 | €13,750 | €0 | -€13,750 | -100% |
| Taxes, remuneration and social security | 45 | €97,479 | €179,347 | +€81,867 | +84.0% |
| Taxes | 450/3 | €97,479 | €179,347 | +€81,867 | +84.0% |
| Other amounts payable | 47/48 | €80,909 | €0 | -€80,909 | -100% |
| Accrued charges and deferred income | 492/3 | €7,014 | €0 | -€7,014 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153 | €0 | -€153 | -100% |
| Other operating charges | 640/8 | €12,267 | €1,120 | -€11,146 | -90.9% |
| Non-recurring operating charges | 66A | - | €4,750 | +€4,750 | |
| Gross operating margin | 9900 | €319,567 | €399,874 | +€80,307 | +25.1% |
| Operating profit (loss) | 9901 | €307,147 | €394,004 | +€86,856 | +28.3% |
| Financial income | 75/76B | €1,247 | €27,666 | +€26,419 | +2,118% |
| Recurring financial income | 75 | €1,247 | €27,666 | +€26,419 | +2,118% |
| Financial charges | 65/66B | €6,091 | €7,005 | +€914 | +15.0% |
| Recurring financial charges | 65 | €6,091 | €7,005 | +€914 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €302,303 | €414,665 | +€112,362 | +37.2% |
| Income taxes | 67/77 | €100,596 | €130,559 | +€29,963 | +29.8% |
| Profit (loss) for the period | 9904 | €201,707 | €284,105 | +€82,398 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €201,707 | €284,105 | +€82,398 | +40.9% |
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 31 October 2026 via checked.be.