PHARMAQ: what changed
Two fiscal 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.
PHARMAQ
Largest movements
- Cash +€47,619
up €47,619 (+36.3%), from €131,170 to €178,789
mainly Trade debts (+€35,464) and Net result for the year (+€22,968)
- Deferred charges and accrued income +€9,606
up €9,606 (+20.5%), from €46,947 to €56,553
- Stocks and contracts -€7,628
down €7,628 (-5.4%), from €140,434 to €132,806
- Trade debts +€35,464
up €35,464 (+62.3%), from €56,923 to €92,387
- Profit (loss) carried forward +€22,968
up €22,968 (+75.8%), from -€30,289 to -€7,321
- Other debts -€7,058
down €7,058 (-4.5%), from €157,362 to €150,304
- Write-downs +€14,036
new in 2025: €14,036
- Staff costs +€5,983
up €5,983 (+15.8%), from €37,977 to €43,960
- Gross operating margin -€5,620
down €5,620 (-6.5%), from €87,077 to €81,457
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 | €325,323 | €375,271 | +€49,949 | +15.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,000 | €1,000 | = | 0.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €324,323 | €374,271 | +€49,949 | +15.4% |
| Stocks and contracts in progress | 3 | €140,434 | €132,806 | -€7,628 | -5.4% |
| Stocks | 30/36 | €140,434 | €132,806 | -€7,628 | -5.4% |
| Amounts receivable within one year | 40/41 | €5,770 | €6,123 | +€352 | +6.1% |
| Trade receivables | 40 | €3,481 | €1,374 | -€2,107 | -60.5% |
| Other amounts receivable | 41 | €2,290 | €4,749 | +€2,459 | +107.4% |
| Cash at bank and in hand | 54/58 | €131,170 | €178,789 | +€47,619 | +36.3% |
| Deferred charges and accrued income | 490/1 | €46,947 | €56,553 | +€9,606 | +20.5% |
| Total equity and liabilities | 10/49 | €325,323 | €375,271 | +€49,949 | +15.4% |
| Equity | 10/15 | €105,269 | €128,237 | +€22,968 | +21.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Other | 1109/19 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €73,558 | €73,558 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €67,358 | €67,358 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,289 | -€7,321 | +€22,968 | +75.8% |
| Amounts payable | 17/49 | €220,053 | €247,034 | +€26,981 | +12.3% |
| Amounts payable within one year | 42/48 | €220,053 | €247,034 | +€26,981 | +12.3% |
| Trade debts | 44 | €56,923 | €92,387 | +€35,464 | +62.3% |
| Suppliers | 440/4 | €56,923 | €92,387 | +€35,464 | +62.3% |
| Taxes, remuneration and social security | 45 | €5,769 | €4,343 | -€1,426 | -24.7% |
| Taxes | 450/3 | €0 | €185 | +€185 | |
| Remuneration and social security | 454/9 | €5,769 | €4,159 | -€1,611 | -27.9% |
| Other amounts payable | 47/48 | €157,362 | €150,304 | -€7,058 | -4.5% |
| Remuneration, social security and pensions | 62 | €37,977 | €43,960 | +€5,983 | +15.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,036 | +€14,036 | |
| Other operating charges | 640/8 | €187 | €187 | = | 0.0% |
| Gross operating margin | 9900 | €87,077 | €81,457 | -€5,620 | -6.5% |
| Operating profit (loss) | 9901 | €48,913 | €23,274 | -€25,639 | -52.4% |
| Financial income | 75/76B | €60 | €88 | +€28 | +46.2% |
| Recurring financial income | 75 | €60 | €88 | +€28 | +46.2% |
| Financial charges | 65/66B | €575 | €394 | -€181 | -31.5% |
| Recurring financial charges | 65 | €575 | €394 | -€181 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €48,398 | €22,968 | -€25,430 | -52.5% |
| Profit (loss) for the period | 9904 | €48,398 | €22,968 | -€25,430 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,398 | €22,968 | -€25,430 | -52.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.