PHARMART: 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.
PHARMART
Largest movements
- Cash +€137,347
up €137,347 (+12.5%), from €1.1m to €1.2m
mainly Net result for the year (+€139,776) and Trade debts (+€14,938)
- Receivables within one year +€22,880
up €22,880 (+27.3%), from €83,760 to €106,640
of which Trade receivables: +€30,750
- Profit (loss) carried forward +€139,776
up €139,776 (+11.2%), from €1.2m to €1.4m
- Gross operating margin +€30,334
up €30,334 (+16.9%), from €179,039 to €209,373
- Taxes +€8,286
up €8,286 (+25.5%), from €32,457 to €40,743
- Financial charges -€5,804
down €5,804 (-83.2%), from €6,976 to €1,172
- Staff costs +€3,332
up €3,332 (+16.8%), from €19,811 to €23,142
- Financial income +€2,730
up €2,730 (+92.3%), from €2,957 to €5,687
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 | €1,351,395 | €1,506,776 | +€155,382 | +11.5% |
| Fixed assets | 21/28 | €31,236 | €33,748 | +€2,512 | +8.0% |
| Tangible fixed assets | 22/27 | €31,136 | €33,648 | +€2,512 | +8.1% |
| Plant, machinery and equipment | 23 | €28,745 | €32,896 | +€4,151 | +14.4% |
| Furniture and vehicles | 24 | €2,391 | €752 | -€1,639 | -68.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,320,159 | €1,473,029 | +€152,870 | +11.6% |
| Stocks and contracts in progress | 3 | €139,873 | €132,000 | -€7,873 | -5.6% |
| Stocks | 30/36 | €139,873 | €132,000 | -€7,873 | -5.6% |
| Amounts receivable within one year | 40/41 | €83,760 | €106,640 | +€22,880 | +27.3% |
| Trade receivables | 40 | €68,524 | €99,274 | +€30,750 | +44.9% |
| Other amounts receivable | 41 | €15,237 | €7,366 | -€7,870 | -51.7% |
| Cash at bank and in hand | 54/58 | €1,095,813 | €1,233,160 | +€137,347 | +12.5% |
| Deferred charges and accrued income | 490/1 | €712 | €1,229 | +€516 | +72.5% |
| Total equity and liabilities | 10/49 | €1,351,395 | €1,506,776 | +€155,382 | +11.5% |
| Equity | 10/15 | €1,303,267 | €1,443,042 | +€139,776 | +10.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,248,267 | €1,388,042 | +€139,776 | +11.2% |
| Amounts payable | 17/49 | €48,128 | €63,734 | +€15,606 | +32.4% |
| Amounts payable within one year | 42/48 | €48,085 | €63,734 | +€15,649 | +32.5% |
| Trade debts | 44 | €36,915 | €51,853 | +€14,938 | +40.5% |
| Suppliers | 440/4 | €36,915 | €51,853 | +€14,938 | +40.5% |
| Taxes, remuneration and social security | 45 | €5,758 | €5,554 | -€204 | -3.5% |
| Taxes | 450/3 | €1,850 | €1,240 | -€610 | -33.0% |
| Remuneration and social security | 454/9 | €3,907 | €4,314 | +€406 | +10.4% |
| Other amounts payable | 47/48 | €5,413 | €6,327 | +€914 | +16.9% |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Remuneration, social security and pensions | 62 | €19,811 | €23,142 | +€3,332 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,556 | €8,888 | -€1,668 | -15.8% |
| Other operating charges | 640/8 | €3 | €9 | +€6 | +192.2% |
| Non-recurring operating charges | 66A | - | €1,330 | +€1,330 | |
| Gross operating margin | 9900 | €179,039 | €209,373 | +€30,334 | +16.9% |
| Operating profit (loss) | 9901 | €148,669 | €176,003 | +€27,334 | +18.4% |
| Financial income | 75/76B | €2,957 | €5,687 | +€2,730 | +92.3% |
| Recurring financial income | 75 | €2,957 | €5,687 | +€2,730 | +92.3% |
| Financial charges | 65/66B | €6,976 | €1,172 | -€5,804 | -83.2% |
| Recurring financial charges | 65 | €6,976 | €1,172 | -€5,804 | -83.2% |
| Profit (loss) for the period before taxes | 9903 | €144,651 | €180,519 | +€35,868 | +24.8% |
| Income taxes | 67/77 | €32,457 | €40,743 | +€8,286 | +25.5% |
| Profit (loss) for the period | 9904 | €112,193 | €139,776 | +€27,582 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €112,193 | €139,776 | +€27,582 | +24.6% |
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 5 October 2026 via checked.be.