PHARMANUT: 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.
PHARMANUT
Largest movements
- Receivables within one year +€35,037
up €35,037 (+67.8%), from €51,695 to €86,732
of which Other amounts receivable: +€34,557
- Tangible fixed assets +€22,440
up €22,440 (+2.7%), from €824,998 to €847,438
of which Land and buildings: +€162,696
- Cash -€17,725
down €17,725 (-47.7%), from €37,152 to €19,426
mainly Investment in fixed assets (net) (-€70,118) and Receivables within one year (-€35,037)
- Reserves +€44,900
up €44,900 (+27.0%), from €166,355 to €211,255
of which Distributable reserves: +€44,900
- Trade debts -€14,919
down €14,919 (-86.5%), from €17,251 to €2,332
- Current portion of long-term debt +€10,723
up €10,723 (+19.9%), from €53,850 to €64,573
- Gross operating margin +€19,502
up €19,502 (+17.7%), from €110,374 to €129,876
- Depreciation +€5,673
up €5,673 (+13.5%), from €42,005 to €47,678
- Taxes +€3,346
up €3,346 (+23.6%), from €14,180 to €17,526
- Financial charges +€3,013
up €3,013 (+17.6%), from €17,131 to €20,144
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 | €923,517 | €958,131 | +€34,614 | +3.7% |
| Fixed assets | 21/28 | €824,998 | €847,438 | +€22,440 | +2.7% |
| Tangible fixed assets | 22/27 | €824,998 | €847,438 | +€22,440 | +2.7% |
| Land and buildings | 22 | €648,783 | €811,479 | +€162,696 | +25.1% |
| Furniture and vehicles | 24 | €51,326 | €35,867 | -€15,460 | -30.1% |
| Other tangible fixed assets | 26 | €186 | €93 | -€93 | -50.0% |
| Assets under construction and advance payments | 27 | €124,703 | - | -€124,703 | |
| Current assets | 29/58 | €98,519 | €110,692 | +€12,174 | +12.4% |
| Amounts receivable after more than one year | 29 | €7,617 | €2,306 | -€5,312 | -69.7% |
| Other amounts receivable | 291 | €7,617 | €2,306 | -€5,312 | -69.7% |
| Amounts receivable within one year | 40/41 | €51,695 | €86,732 | +€35,037 | +67.8% |
| Trade receivables | 40 | - | €480 | +€480 | |
| Other amounts receivable | 41 | €51,695 | €86,252 | +€34,557 | +66.8% |
| Cash at bank and in hand | 54/58 | €37,152 | €19,426 | -€17,725 | -47.7% |
| Deferred charges and accrued income | 490/1 | €2,055 | €2,229 | +€174 | +8.5% |
| Total equity and liabilities | 10/49 | €923,517 | €958,131 | +€34,614 | +3.7% |
| Equity | 10/15 | €187,953 | €232,934 | +€44,981 | +23.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €166,355 | €211,255 | +€44,900 | +27.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €164,500 | €209,400 | +€44,900 | +27.3% |
| Profit (loss) carried forward | 14 | €9,198 | €9,279 | +€81 | +0.9% |
| Amounts payable | 17/49 | €735,564 | €725,197 | -€10,367 | -1.4% |
| Amounts payable after more than one year | 17 | €634,557 | €634,134 | -€423 | -0.1% |
| Financial debts | 170/4 | €634,557 | €634,134 | -€423 | -0.1% |
| Amounts payable within one year | 42/48 | €101,007 | €88,763 | -€12,245 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €53,850 | €64,573 | +€10,723 | +19.9% |
| Trade debts | 44 | €17,251 | €2,332 | -€14,919 | -86.5% |
| Suppliers | 440/4 | €17,251 | €2,332 | -€14,919 | -86.5% |
| Taxes, remuneration and social security | 45 | €26,463 | €20,988 | -€5,475 | -20.7% |
| Taxes | 450/3 | €26,463 | €20,988 | -€5,475 | -20.7% |
| Other amounts payable | 47/48 | €3,443 | €870 | -€2,573 | -74.7% |
| Accrued charges and deferred income | 492/3 | - | €2,300 | +€2,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,005 | €47,678 | +€5,673 | +13.5% |
| Other operating charges | 640/8 | €4,000 | €3,825 | -€175 | -4.4% |
| Gross operating margin | 9900 | €110,374 | €129,876 | +€19,502 | +17.7% |
| Operating profit (loss) | 9901 | €64,369 | €78,373 | +€14,004 | +21.8% |
| Financial income | 75/76B | €3,683 | €4,278 | +€594 | +16.1% |
| Recurring financial income | 75 | €3,683 | €4,278 | +€594 | +16.1% |
| Financial charges | 65/66B | €17,131 | €20,144 | +€3,013 | +17.6% |
| Recurring financial charges | 65 | €17,131 | €20,144 | +€3,013 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €50,922 | €62,506 | +€11,585 | +22.8% |
| Income taxes | 67/77 | €14,180 | €17,526 | +€3,346 | +23.6% |
| Profit (loss) for the period | 9904 | €36,742 | €44,981 | +€8,239 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,742 | €44,981 | +€8,239 | +22.4% |
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 10 October 2026 via checked.be.