PHARMAKAISER GRIVEGNEE: 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.
PHARMAKAISER GRIVEGNEE
Largest movements
- Tangible fixed assets +€663,135
up €663,135 (+356%), from €186,470 to €849,605
of which Land and buildings: +€441,792
- Receivables within one year +€30,182
up €30,182 (+17.9%), from €168,557 to €198,739
of which Trade receivables: +€29,275
- Cash -€29,910
down €29,910 (-38.3%), from €77,996 to €48,085
mainly Investment in fixed assets (net) (-€707,775) and Net result for the year (-€67,727)
- Debts after one year +€612,955
up €612,955 (+498%), from €123,043 to €735,998
- Profit (loss) carried forward -€67,727
down €67,727 (-1,595%), from -€4,245 to -€71,972
- Trade debts +€55,251
up €55,251 (+89.7%), from €61,582 to €116,834
- Current portion of long-term debt +€28,300
up €28,300 (+313%), from €9,044 to €37,344
- Other debts +€20,150
up €20,150 (+1,136%), from €1,773 to €21,923
- Staff costs +€32,851
up €32,851 (+19.2%), from €171,125 to €203,976
- Depreciation +€30,725
up €30,725 (+221%), from €13,916 to €44,640
- Gross operating margin +€21,483
up €21,483 (+11.0%), from €195,713 to €217,196
- Financial charges +€15,073
up €15,073 (+101%), from €14,917 to €29,991
- Other operating charges +€5,787
up €5,787 (+222%), from €2,610 to €8,398
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 | €546,793 | €1,208,623 | +€661,830 | +121% |
| Fixed assets | 21/28 | €186,730 | €849,865 | +€663,135 | +355% |
| Tangible fixed assets | 22/27 | €186,470 | €849,605 | +€663,135 | +356% |
| Land and buildings | 22 | €175,962 | €617,754 | +€441,792 | +251% |
| Plant, machinery and equipment | 23 | €9,740 | €105,237 | +€95,497 | +980% |
| Furniture and vehicles | 24 | €768 | €408 | -€359 | -46.8% |
| Leasing and similar rights | 25 | - | €126,205 | +€126,205 | |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €360,063 | €358,759 | -€1,305 | -0.4% |
| Stocks and contracts in progress | 3 | €100,467 | €98,665 | -€1,802 | -1.8% |
| Stocks | 30/36 | €100,467 | €98,665 | -€1,802 | -1.8% |
| Amounts receivable within one year | 40/41 | €168,557 | €198,739 | +€30,182 | +17.9% |
| Trade receivables | 40 | €80,475 | €109,750 | +€29,275 | +36.4% |
| Other amounts receivable | 41 | €88,082 | €88,989 | +€907 | +1.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €77,996 | €48,085 | -€29,910 | -38.3% |
| Deferred charges and accrued income | 490/1 | €13,044 | €13,270 | +€226 | +1.7% |
| Total equity and liabilities | 10/49 | €546,793 | €1,208,623 | +€661,830 | +121% |
| Equity | 10/15 | €328,687 | €260,961 | -€67,727 | -20.6% |
| Contributions | 10/11 | €176,275 | €176,275 | = | 0.0% |
| Reserves | 13 | €156,658 | €156,658 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,821 | €23,821 | = | 0.0% |
| Distributable reserves | 133 | €132,837 | €132,837 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,245 | -€71,972 | -€67,727 | -1,595% |
| Amounts payable | 17/49 | €218,106 | €947,663 | +€729,557 | +334% |
| Amounts payable after more than one year | 17 | €123,043 | €735,998 | +€612,955 | +498% |
| Financial debts | 170/4 | €123,043 | €735,998 | +€612,955 | +498% |
| Amounts payable within one year | 42/48 | €94,497 | €205,253 | +€110,756 | +117% |
| Current portion of amounts payable after more than one year | 42 | €9,044 | €37,344 | +€28,300 | +313% |
| Trade debts | 44 | €61,582 | €116,834 | +€55,251 | +89.7% |
| Suppliers | 440/4 | €61,582 | €116,834 | +€55,251 | +89.7% |
| Taxes, remuneration and social security | 45 | €22,098 | €29,152 | +€7,054 | +31.9% |
| Taxes | 450/3 | €372 | €970 | +€598 | +161% |
| Remuneration and social security | 454/9 | €21,726 | €28,182 | +€6,456 | +29.7% |
| Other amounts payable | 47/48 | €1,773 | €21,923 | +€20,150 | +1,136% |
| Accrued charges and deferred income | 492/3 | €565 | €6,412 | +€5,847 | +1,035% |
| Remuneration, social security and pensions | 62 | €171,125 | €203,976 | +€32,851 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,916 | €44,640 | +€30,725 | +221% |
| Other operating charges | 640/8 | €2,610 | €8,398 | +€5,787 | +222% |
| Gross operating margin | 9900 | €195,713 | €217,196 | +€21,483 | +11.0% |
| Operating profit (loss) | 9901 | €8,062 | -€39,818 | -€47,880 | |
| Financial income | 75/76B | €2,610 | €2,082 | -€528 | -20.2% |
| Recurring financial income | 75 | €2,610 | €2,082 | -€528 | -20.2% |
| Financial charges | 65/66B | €14,917 | €29,991 | +€15,073 | +101% |
| Recurring financial charges | 65 | €14,917 | €29,991 | +€15,073 | +101% |
| Profit (loss) for the period before taxes | 9903 | -€4,245 | -€67,727 | -€63,481 | -1,495% |
| Profit (loss) for the period | 9904 | -€4,245 | -€67,727 | -€63,481 | -1,495% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,245 | -€67,727 | -€63,481 | -1,495% |
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 14 October 2026 via checked.be.