PHARMALYS: 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.
PHARMALYS
Largest movements
- Stocks and contracts -€51,199
down €51,199 (-32.2%), from €159,135 to €107,935
- Tangible fixed assets -€22,306
down €22,306 (-12.4%), from €180,069 to €157,762
of which Land and buildings: -€13,937
- Receivables within one year +€11,665
up €11,665 (+11.3%), from €103,185 to €114,850
of which Other amounts receivable: +€17,108
- Other debts -€71,492
no longer reported in 2025 (was €71,492)
- Profit (loss) carried forward +€33,413
up €33,413 (+22.4%), from €149,069 to €182,483
- Debts after one year -€18,132
down €18,132 (-13.6%), from €133,084 to €114,952
- Trade debts -€9,484
down €9,484 (-16.6%), from €57,116 to €47,632
- Gross operating margin -€31,493
down €31,493 (-21.8%), from €144,501 to €113,008
- Staff costs +€10,535
up €10,535 (+71.3%), from €14,777 to €25,313
- Write-downs +€9,728
new in 2025: €9,728
- Taxes -€6,135
down €6,135 (-22.1%), from €27,715 to €21,580
- Financial charges -€1,899
down €1,899 (-35.0%), from €5,432 to €3,533
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 | €458,982 | €392,320 | -€66,662 | -14.5% |
| Fixed assets | 21/28 | €181,619 | €159,313 | -€22,306 | -12.3% |
| Tangible fixed assets | 22/27 | €180,069 | €157,762 | -€22,306 | -12.4% |
| Land and buildings | 22 | €156,729 | €142,791 | -€13,937 | -8.9% |
| Plant, machinery and equipment | 23 | €9,580 | €8,261 | -€1,319 | -13.8% |
| Furniture and vehicles | 24 | €13,760 | €6,710 | -€7,050 | -51.2% |
| Financial fixed assets | 28 | €1,551 | €1,551 | = | 0.0% |
| Current assets | 29/58 | €277,362 | €233,007 | -€44,356 | -16.0% |
| Stocks and contracts in progress | 3 | €159,135 | €107,935 | -€51,199 | -32.2% |
| Stocks | 30/36 | €159,135 | €107,935 | -€51,199 | -32.2% |
| Amounts receivable within one year | 40/41 | €103,185 | €114,850 | +€11,665 | +11.3% |
| Trade receivables | 40 | €53,141 | €47,698 | -€5,443 | -10.2% |
| Other amounts receivable | 41 | €50,044 | €67,152 | +€17,108 | +34.2% |
| Cash at bank and in hand | 54/58 | €14,264 | €10,083 | -€4,181 | -29.3% |
| Deferred charges and accrued income | 490/1 | €779 | €139 | -€640 | -82.2% |
| Total equity and liabilities | 10/49 | €458,982 | €392,320 | -€66,662 | -14.5% |
| Equity | 10/15 | €157,129 | €190,543 | +€33,413 | +21.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,069 | €182,483 | +€33,413 | +22.4% |
| Amounts payable | 17/49 | €301,852 | €201,777 | -€100,075 | -33.2% |
| Amounts payable after more than one year | 17 | €133,084 | €114,952 | -€18,132 | -13.6% |
| Financial debts | 170/4 | €133,084 | €114,952 | -€18,132 | -13.6% |
| Amounts payable within one year | 42/48 | €168,768 | €86,825 | -€81,943 | -48.6% |
| Current portion of amounts payable after more than one year | 42 | €17,739 | €18,643 | +€904 | +5.1% |
| Trade debts | 44 | €57,116 | €47,632 | -€9,484 | -16.6% |
| Suppliers | 440/4 | €57,116 | €47,632 | -€9,484 | -16.6% |
| Taxes, remuneration and social security | 45 | €22,422 | €20,550 | -€1,872 | -8.3% |
| Taxes | 450/3 | €19,990 | €18,559 | -€1,431 | -7.2% |
| Remuneration and social security | 454/9 | €2,432 | €1,991 | -€440 | -18.1% |
| Other amounts payable | 47/48 | €71,492 | - | -€71,492 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €14,777 | €25,313 | +€10,535 | +71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,702 | €22,306 | -€396 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,728 | +€9,728 | |
| Other operating charges | 640/8 | €2,067 | €691 | -€1,376 | -66.6% |
| Non-recurring operating charges | 66A | €12 | - | -€12 | |
| Gross operating margin | 9900 | €144,501 | €113,008 | -€31,493 | -21.8% |
| Operating profit (loss) | 9901 | €104,942 | €54,970 | -€49,971 | -47.6% |
| Financial income | 75/76B | €4,204 | €3,556 | -€648 | -15.4% |
| Recurring financial income | 75 | €4,204 | €3,556 | -€648 | -15.4% |
| Financial charges | 65/66B | €5,432 | €3,533 | -€1,899 | -35.0% |
| Recurring financial charges | 65 | €5,432 | €3,533 | -€1,899 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €103,713 | €54,993 | -€48,720 | -47.0% |
| Income taxes | 67/77 | €27,715 | €21,580 | -€6,135 | -22.1% |
| Profit (loss) for the period | 9904 | €75,998 | €33,413 | -€42,585 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,998 | €33,413 | -€42,585 | -56.0% |
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.