PHARMALAW: 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.
PHARMALAW
Largest movements
- Receivables within one year -€175,331
down €175,331 (-75.0%), from €233,681 to €58,350
of which Other amounts receivable: -€223,909
- Cash +€100,379
up €100,379 (+28.7%), from €349,215 to €449,594
mainly Net result for the year (+€177,801) and Receivables within one year (+€175,331)
- Current investments +€36,371
up €36,371 (+34.5%), from €105,511 to €141,883
- Reserves -€180,199
down €180,199 (-29.7%), from €607,740 to €427,541
- Tax, wage and social debts +€91,417
up €91,417 (+6405.9%), from €1,427 to €92,844
- Other debts +€53,831
up €53,831 (+80.1%), from €67,169 to €121,000
- Gross operating margin +€108,963
up €108,963 (+73.4%), from €148,484 to €257,446
- Taxes +€29,791
up €29,791 (+63.5%), from €46,892 to €76,683
- Financial charges +€20,394
up €20,394 (+437.9%), from €4,657 to €25,051
of which Non-recurring financial charges: +€13,750
- Financial income +€6,455
up €6,455 (+37.4%), from €17,265 to €23,720
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 | €693,529 | €658,909 | -€34,620 | -5.0% |
| Fixed assets | 21/28 | €2,254 | €1,081 | -€1,174 | -52.1% |
| Tangible fixed assets | 22/27 | €2,254 | €1,081 | -€1,174 | -52.1% |
| Plant, machinery and equipment | 23 | €414 | €0 | -€414 | -100.0% |
| Furniture and vehicles | 24 | €1,840 | €1,081 | -€760 | -41.3% |
| Current assets | 29/58 | €691,275 | €657,828 | -€33,447 | -4.8% |
| Amounts receivable within one year | 40/41 | €233,681 | €58,350 | -€175,331 | -75.0% |
| Trade receivables | 40 | €0 | €48,578 | +€48,578 | |
| Other amounts receivable | 41 | €233,681 | €9,772 | -€223,909 | -95.8% |
| Current investments | 50/53 | €105,511 | €141,883 | +€36,371 | +34.5% |
| Cash at bank and in hand | 54/58 | €349,215 | €449,594 | +€100,379 | +28.7% |
| Deferred charges and accrued income | 490/1 | €2,868 | €8,001 | +€5,134 | +179.0% |
| Total equity and liabilities | 10/49 | €693,529 | €658,909 | -€34,620 | -5.0% |
| Equity | 10/15 | €613,940 | €433,741 | -€180,199 | -29.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €607,740 | €427,541 | -€180,199 | -29.7% |
| Distributable reserves | 133 | €607,740 | €427,541 | -€180,199 | -29.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,589 | €225,168 | +€145,579 | +182.9% |
| Amounts payable within one year | 42/48 | €79,589 | €225,168 | +€145,579 | +182.9% |
| Trade debts | 44 | €10,992 | €11,324 | +€331 | +3.0% |
| Suppliers | 440/4 | €10,992 | €11,324 | +€331 | +3.0% |
| Taxes, remuneration and social security | 45 | €1,427 | €92,844 | +€91,417 | +6405.9% |
| Taxes | 450/3 | €1,427 | €92,844 | +€91,417 | +6405.9% |
| Other amounts payable | 47/48 | €67,169 | €121,000 | +€53,831 | +80.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,745 | €1,174 | -€571 | -32.7% |
| Other operating charges | 640/8 | - | €458 | +€458 | |
| Gross operating margin | 9900 | €148,484 | €257,446 | +€108,963 | +73.4% |
| Operating profit (loss) | 9901 | €146,739 | €255,815 | +€109,076 | +74.3% |
| Financial income | 75/76B | €17,265 | €23,720 | +€6,455 | +37.4% |
| Recurring financial income | 75 | €17,265 | €23,720 | +€6,455 | +37.4% |
| Financial charges | 65/66B | €4,657 | €25,051 | +€20,394 | +437.9% |
| Recurring financial charges | 65 | €4,657 | €11,301 | +€6,644 | +142.7% |
| Non-recurring financial charges | 66B | - | €13,750 | +€13,750 | |
| Profit (loss) for the period before taxes | 9903 | €159,347 | €254,483 | +€95,137 | +59.7% |
| Income taxes | 67/77 | €46,892 | €76,683 | +€29,791 | +63.5% |
| Profit (loss) for the period | 9904 | €112,455 | €177,801 | +€65,346 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €112,455 | €177,801 | +€65,346 | +58.1% |
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 9 October 2026 via checked.be.