PHARMAHEALTH: what changed
PHARMAHEALTH
Largest movements
- Receivables within one year +€55,371
up €55,371 (+39.9%), from €138,796 to €194,168
of which Trade receivables: +€27,737
- Cash -€27,431
down €27,431 (-18.4%), from €148,865 to €121,434
mainly Receivables within one year (-€55,371) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets +€18,117
up €18,117 (+58.3%), from €31,056 to €49,173
of which Furniture and vehicles: +€20,194
- Trade debts +€91,524
up €91,524 (+71.9%), from €127,365 to €218,890
- Reserves -€39,651
down €39,651 (-29.1%), from €136,429 to €96,778
- Short-term financial debts -€15,129
down €15,129 (-85.7%), from €17,650 to €2,521
- Other debts +€9,132
up €9,132 (+6.2%), from €148,249 to €157,382
- Gross operating margin -€87,085
down €87,085 (-39.1%), from €222,763 to €135,678
- Taxes -€23,826
down €23,826 (-79.2%), from €30,095 to €6,269
- Staff costs +€3,894
up €3,894 (+4.0%), from €97,648 to €101,541
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €559,945 | €607,296 | +€47,351 | +8.5% |
| Fixed assets | 21/28 | €31,462 | €49,276 | +€17,814 | +56.6% |
| Intangible fixed assets | 21 | €303 | - | -€303 | |
| Tangible fixed assets | 22/27 | €31,056 | €49,173 | +€18,117 | +58.3% |
| Plant, machinery and equipment | 23 | €5,561 | €2,414 | -€3,147 | -56.6% |
| Furniture and vehicles | 24 | €300 | €20,494 | +€20,194 | +6,731% |
| Other tangible fixed assets | 26 | €25,195 | €26,265 | +€1,070 | +4.2% |
| Financial fixed assets | 28 | €103 | €103 | = | 0.0% |
| Current assets | 29/58 | €528,483 | €558,019 | +€29,536 | +5.6% |
| Stocks and contracts in progress | 3 | €237,203 | €236,128 | -€1,075 | -0.5% |
| Stocks | 30/36 | €237,203 | €236,128 | -€1,075 | -0.5% |
| Amounts receivable within one year | 40/41 | €138,796 | €194,168 | +€55,371 | +39.9% |
| Trade receivables | 40 | €125,433 | €153,169 | +€27,737 | +22.1% |
| Other amounts receivable | 41 | €13,364 | €40,999 | +€27,635 | +207% |
| Cash at bank and in hand | 54/58 | €148,865 | €121,434 | -€27,431 | -18.4% |
| Deferred charges and accrued income | 490/1 | €3,619 | €6,290 | +€2,671 | +73.8% |
| Total equity and liabilities | 10/49 | €559,945 | €607,296 | +€47,351 | +8.5% |
| Equity | 10/15 | €155,021 | €115,370 | -€39,651 | -25.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €136,429 | €96,778 | -€39,651 | -29.1% |
| Distributable reserves | 133 | €136,429 | €96,778 | -€39,651 | -29.1% |
| Amounts payable | 17/49 | €404,924 | €491,926 | +€87,002 | +21.5% |
| Amounts payable after more than one year | 17 | €95,000 | €95,000 | = | 0.0% |
| Financial debts | 170/4 | €95,000 | €95,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €309,924 | €396,926 | +€87,002 | +28.1% |
| Financial debts | 43 | €17,650 | €2,521 | -€15,129 | -85.7% |
| Credit institutions | 430/8 | €17,650 | €2,521 | -€15,129 | -85.7% |
| Trade debts | 44 | €127,365 | €218,890 | +€91,524 | +71.9% |
| Suppliers | 440/4 | €127,365 | €218,890 | +€91,524 | +71.9% |
| Taxes, remuneration and social security | 45 | €16,659 | €18,133 | +€1,475 | +8.9% |
| Taxes | 450/3 | €99 | - | -€99 | |
| Remuneration and social security | 454/9 | €16,559 | €18,133 | +€1,574 | +9.5% |
| Other amounts payable | 47/48 | €148,249 | €157,382 | +€9,132 | +6.2% |
| Remuneration, social security and pensions | 62 | €97,648 | €101,541 | +€3,894 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,852 | €9,783 | +€931 | +10.5% |
| Other operating charges | 640/8 | €2,959 | €2,849 | -€111 | -3.7% |
| Gross operating margin | 9900 | €222,763 | €135,678 | -€87,085 | -39.1% |
| Operating profit (loss) | 9901 | €113,304 | €21,505 | -€91,799 | -81.0% |
| Financial income | 75/76B | €986 | €847 | -€139 | -14.1% |
| Recurring financial income | 75 | €986 | €847 | -€139 | -14.1% |
| Financial charges | 65/66B | €4,819 | €5,734 | +€915 | +19.0% |
| Recurring financial charges | 65 | €4,819 | €5,734 | +€915 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €109,471 | €16,618 | -€92,854 | -84.8% |
| Income taxes | 67/77 | €30,095 | €6,269 | -€23,826 | -79.2% |
| Profit (loss) for the period | 9904 | €79,376 | €10,349 | -€69,028 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,376 | €10,349 | -€69,028 | -87.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.