PHARMANEMA: 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.
PHARMANEMA
Largest movements
- Tangible fixed assets +€100,032
up €100,032 (+21.8%), from €459,558 to €559,590
of which Land and buildings: +€90,397
- Stocks and contracts +€12,642
up €12,642 (+8.5%), from €149,010 to €161,652
- Cash -€10,814
down €10,814 (-10.1%), from €106,707 to €95,893
mainly Investment in fixed assets (net) (-€147,201) and Stocks and contracts (-€12,642)
- Debts after one year +€57,298
up €57,298 (+17.9%), from €320,894 to €378,192
- Reserves +€25,000
up €25,000 (+8.2%), from €305,000 to €330,000
- Current portion of long-term debt +€21,621
up €21,621 (+87.5%), from €24,705 to €46,326
- Gross operating margin +€15,374
up €15,374 (+15.5%), from €99,131 to €114,505
- Depreciation +€12,282
up €12,282 (+35.2%), from €34,887 to €47,169
- Financial charges +€4,889
up €4,889 (+29.3%), from €16,695 to €21,584
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 | €810,521 | €910,021 | +€99,499 | +12.3% |
| Fixed assets | 21/28 | €464,652 | €564,684 | +€100,032 | +21.5% |
| Tangible fixed assets | 22/27 | €459,558 | €559,590 | +€100,032 | +21.8% |
| Land and buildings | 22 | €455,798 | €546,195 | +€90,397 | +19.8% |
| Plant, machinery and equipment | 23 | €1,719 | €8,698 | +€6,979 | +406% |
| Furniture and vehicles | 24 | €2,042 | €4,698 | +€2,656 | +130% |
| Financial fixed assets | 28 | €5,094 | €5,094 | = | 0.0% |
| Current assets | 29/58 | €345,869 | €345,337 | -€532 | -0.2% |
| Stocks and contracts in progress | 3 | €149,010 | €161,652 | +€12,642 | +8.5% |
| Stocks | 30/36 | €149,010 | €161,652 | +€12,642 | +8.5% |
| Amounts receivable within one year | 40/41 | €80,980 | €78,842 | -€2,138 | -2.6% |
| Trade receivables | 40 | €68,345 | €60,690 | -€7,655 | -11.2% |
| Other amounts receivable | 41 | €12,635 | €18,152 | +€5,517 | +43.7% |
| Cash at bank and in hand | 54/58 | €106,707 | €95,893 | -€10,814 | -10.1% |
| Deferred charges and accrued income | 490/1 | €9,172 | €8,949 | -€223 | -2.4% |
| Total equity and liabilities | 10/49 | €810,521 | €910,021 | +€99,499 | +12.3% |
| Equity | 10/15 | €331,940 | €357,607 | +€25,668 | +7.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €305,000 | €330,000 | +€25,000 | +8.2% |
| Distributable reserves | 133 | €305,000 | €330,000 | +€25,000 | +8.2% |
| Profit (loss) carried forward | 14 | €1,940 | €2,607 | +€668 | +34.4% |
| Amounts payable | 17/49 | €478,582 | €552,413 | +€73,832 | +15.4% |
| Amounts payable after more than one year | 17 | €320,894 | €378,192 | +€57,298 | +17.9% |
| Financial debts | 170/4 | €320,894 | €378,192 | +€57,298 | +17.9% |
| Amounts payable within one year | 42/48 | €150,128 | €171,043 | +€20,915 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €24,705 | €46,326 | +€21,621 | +87.5% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €83,077 | €84,717 | +€1,640 | +2.0% |
| Suppliers | 440/4 | €83,077 | €84,717 | +€1,640 | +2.0% |
| Taxes, remuneration and social security | 45 | €2,115 | - | -€2,115 | |
| Taxes | 450/3 | €2,115 | - | -€2,115 | |
| Other amounts payable | 47/48 | €10,232 | €10,000 | -€232 | -2.3% |
| Accrued charges and deferred income | 492/3 | €7,560 | €3,179 | -€4,381 | -58.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,887 | €47,169 | +€12,282 | +35.2% |
| Other operating charges | 640/8 | €2,299 | €2,372 | +€72 | +3.1% |
| Gross operating margin | 9900 | €99,131 | €114,505 | +€15,374 | +15.5% |
| Operating profit (loss) | 9901 | €61,945 | €64,964 | +€3,020 | +4.9% |
| Financial income | 75/76B | €51 | €187 | +€135 | +264% |
| Recurring financial income | 75 | €51 | €187 | +€135 | +264% |
| Financial charges | 65/66B | €16,695 | €21,584 | +€4,889 | +29.3% |
| Recurring financial charges | 65 | €16,695 | €21,584 | +€4,889 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €45,301 | €43,567 | -€1,734 | -3.8% |
| Income taxes | 67/77 | €8,013 | €7,899 | -€114 | -1.4% |
| Profit (loss) for the period | 9904 | €37,287 | €35,668 | -€1,620 | -4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,287 | €35,668 | -€1,620 | -4.3% |
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 15 October 2026 via checked.be.