PHARMATHUS: 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.
PHARMATHUS
Largest movements
- Receivables within one year +€60,788
up €60,788 (+60.8%), from €99,920 to €160,708
of which Trade receivables: +€61,127
- Financial fixed assets +€57,002
up €57,002 (+265%), from €21,519 to €78,521
- Tangible fixed assets -€55,082
down €55,082 (-20.2%), from €272,060 to €216,978
of which Plant, machinery and equipment: -€57,762
- Stocks and contracts +€16,071
up €16,071 (+5.1%), from €315,601 to €331,672
- Reserves +€50,000
up €50,000 (+26.1%), from €191,859 to €241,859
- Debts after one year -€32,348
down €32,348 (-19.4%), from €166,390 to €134,042
- Current portion of long-term debt +€28,588
up €28,588 (+52.2%), from €54,759 to €83,348
- Trade debts +€26,234
up €26,234 (+24.6%), from €106,710 to €132,944
- Gross operating margin +€42,147
up €42,147 (+7.4%), from €569,915 to €612,062
- Staff costs -€32,714
down €32,714 (-10.8%), from €301,934 to €269,220
- Taxes +€11,527
up €11,527 (+27.7%), from €41,587 to €53,113
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 | €778,884 | €845,919 | +€67,035 | +8.6% |
| Fixed assets | 21/28 | €308,579 | €305,499 | -€3,080 | -1.0% |
| Intangible fixed assets | 21 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Tangible fixed assets | 22/27 | €272,060 | €216,978 | -€55,082 | -20.2% |
| Plant, machinery and equipment | 23 | €246,910 | €189,148 | -€57,762 | -23.4% |
| Furniture and vehicles | 24 | €7,152 | €5,580 | -€1,572 | -22.0% |
| Other tangible fixed assets | 26 | €17,998 | €22,251 | +€4,253 | +23.6% |
| Financial fixed assets | 28 | €21,519 | €78,521 | +€57,002 | +265% |
| Current assets | 29/58 | €470,305 | €540,420 | +€70,115 | +14.9% |
| Stocks and contracts in progress | 3 | €315,601 | €331,672 | +€16,071 | +5.1% |
| Stocks | 30/36 | €315,601 | €331,672 | +€16,071 | +5.1% |
| Amounts receivable within one year | 40/41 | €99,920 | €160,708 | +€60,788 | +60.8% |
| Trade receivables | 40 | €99,581 | €160,708 | +€61,127 | +61.4% |
| Other amounts receivable | 41 | €339 | - | -€339 | |
| Cash at bank and in hand | 54/58 | €53,496 | €48,040 | -€5,456 | -10.2% |
| Deferred charges and accrued income | 490/1 | €1,288 | - | -€1,288 | |
| Total equity and liabilities | 10/49 | €778,884 | €845,919 | +€67,035 | +8.6% |
| Equity | 10/15 | €211,218 | €261,016 | +€49,797 | +23.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €191,859 | €241,859 | +€50,000 | +26.1% |
| Distributable reserves | 133 | €191,859 | €241,859 | +€50,000 | +26.1% |
| Profit (loss) carried forward | 14 | €767 | €565 | -€203 | -26.4% |
| Amounts payable | 17/49 | €567,665 | €584,903 | +€17,238 | +3.0% |
| Amounts payable after more than one year | 17 | €166,390 | €134,042 | -€32,348 | -19.4% |
| Financial debts | 170/4 | €166,390 | €134,042 | -€32,348 | -19.4% |
| Amounts payable within one year | 42/48 | €400,705 | €450,861 | +€50,156 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €54,759 | €83,348 | +€28,588 | +52.2% |
| Trade debts | 44 | €106,710 | €132,944 | +€26,234 | +24.6% |
| Suppliers | 440/4 | €106,710 | €132,944 | +€26,234 | +24.6% |
| Taxes, remuneration and social security | 45 | €73,771 | €74,045 | +€274 | +0.4% |
| Taxes | 450/3 | €21,609 | €34,819 | +€13,210 | +61.1% |
| Remuneration and social security | 454/9 | €52,162 | €39,225 | -€12,937 | -24.8% |
| Other amounts payable | 47/48 | €165,465 | €160,525 | -€4,940 | -3.0% |
| Accrued charges and deferred income | 492/3 | €571 | - | -€571 | |
| Remuneration, social security and pensions | 62 | €301,934 | €269,220 | -€32,714 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,746 | €68,255 | +€509 | +0.8% |
| Other operating charges | 640/8 | €282 | €490 | +€208 | +73.8% |
| Gross operating margin | 9900 | €569,915 | €612,062 | +€42,147 | +7.4% |
| Operating profit (loss) | 9901 | €199,953 | €274,097 | +€74,144 | +37.1% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €5,730 | €11,186 | +€5,456 | +95.2% |
| Recurring financial charges | 65 | €5,730 | €11,186 | +€5,456 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €194,253 | €262,911 | +€68,658 | +35.3% |
| Income taxes | 67/77 | €41,587 | €53,113 | +€11,527 | +27.7% |
| Profit (loss) for the period | 9904 | €152,666 | €209,797 | +€57,131 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €152,666 | €209,797 | +€57,131 | +37.4% |
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 17 October 2026 via checked.be.