PHARMATRUST: 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.
PHARMATRUST
Largest movements
- Receivables within one year +€178,566
up €178,566 (+62.6%), from €285,381 to €463,947
of which Trade receivables: +€193,821
- Cash +€18,582
up €18,582 (+23.5%), from €79,102 to €97,684
mainly Net result for the year (+€138,857) and Tax, wage and social debts (+€55,453)
- Stocks and contracts -€15,362
down €15,362 (-10.7%), from €144,068 to €128,705
- Profit (loss) carried forward +€138,857
up €138,857 (+54.5%), from €254,740 to €393,597
- Tax, wage and social debts +€55,453
up €55,453 (+203.4%), from €27,266 to €82,719
of which Taxes: +€54,947
- Other debts -€24,212
down €24,212 (-48.2%), from €50,252 to €26,039
- Trade debts +€7,520
up €7,520 (+3.8%), from €198,939 to €206,459
- Gross operating margin +€112,466
up €112,466 (+72.3%), from €155,452 to €267,918
- Taxes +€30,655
up €30,655 (+154.0%), from €19,908 to €50,562
- Staff costs -€4,724
down €4,724 (-6.7%), from €70,939 to €66,214
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 | €539,662 | €716,875 | +€177,213 | +32.8% |
| Fixed assets | 21/28 | €29,644 | €25,845 | -€3,798 | -12.8% |
| Intangible fixed assets | 21 | €15,566 | €10,776 | -€4,789 | -30.8% |
| Tangible fixed assets | 22/27 | €14,078 | €15,069 | +€991 | +7.0% |
| Furniture and vehicles | 24 | - | €1,823 | +€1,823 | |
| Leasing and similar rights | 25 | €4,455 | €2,335 | -€2,120 | -47.6% |
| Other tangible fixed assets | 26 | €9,623 | €10,911 | +€1,288 | +13.4% |
| Current assets | 29/58 | €510,018 | €691,029 | +€181,011 | +35.5% |
| Stocks and contracts in progress | 3 | €144,068 | €128,705 | -€15,362 | -10.7% |
| Stocks | 30/36 | €144,068 | €128,705 | -€15,362 | -10.7% |
| Amounts receivable within one year | 40/41 | €285,381 | €463,947 | +€178,566 | +62.6% |
| Trade receivables | 40 | €190,026 | €383,846 | +€193,821 | +102.0% |
| Other amounts receivable | 41 | €95,355 | €80,101 | -€15,255 | -16.0% |
| Cash at bank and in hand | 54/58 | €79,102 | €97,684 | +€18,582 | +23.5% |
| Deferred charges and accrued income | 490/1 | €1,467 | €693 | -€774 | -52.8% |
| Total equity and liabilities | 10/49 | €539,662 | €716,875 | +€177,213 | +32.8% |
| Equity | 10/15 | €262,800 | €401,657 | +€138,857 | +52.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,740 | €393,597 | +€138,857 | +54.5% |
| Amounts payable | 17/49 | €276,861 | €315,217 | +€38,356 | +13.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €276,861 | €315,217 | +€38,356 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €405 | €0 | -€405 | -100.0% |
| Trade debts | 44 | €198,939 | €206,459 | +€7,520 | +3.8% |
| Suppliers | 440/4 | €198,939 | €206,459 | +€7,520 | +3.8% |
| Taxes, remuneration and social security | 45 | €27,266 | €82,719 | +€55,453 | +203.4% |
| Taxes | 450/3 | €16,412 | €71,359 | +€54,947 | +334.8% |
| Remuneration and social security | 454/9 | €10,853 | €11,360 | +€507 | +4.7% |
| Other amounts payable | 47/48 | €50,252 | €26,039 | -€24,212 | -48.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €70,939 | €66,214 | -€4,724 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,310 | €8,700 | +€390 | +4.7% |
| Other operating charges | 640/8 | €402 | €2,104 | +€1,702 | +423.3% |
| Gross operating margin | 9900 | €155,452 | €267,918 | +€112,466 | +72.3% |
| Operating profit (loss) | 9901 | €75,801 | €190,900 | +€115,099 | +151.8% |
| Financial income | 75/76B | €1 | €4 | +€3 | +220.0% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +220.0% |
| Financial charges | 65/66B | €1,206 | €1,484 | +€279 | +23.1% |
| Recurring financial charges | 65 | €1,206 | €1,484 | +€279 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €74,596 | €189,419 | +€114,823 | +153.9% |
| Income taxes | 67/77 | €19,908 | €50,562 | +€30,655 | +154.0% |
| Profit (loss) for the period | 9904 | €54,689 | €138,857 | +€84,168 | +153.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,689 | €138,857 | +€84,168 | +153.9% |
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.