Pharmed: 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.
Pharmed
Largest movements
- Stocks and contracts -€23,365
down €23,365 (-27.0%), from €86,437 to €63,072
- Cash -€18,974
down €18,974 (-56.9%), from €33,369 to €14,394
mainly Other debts (-€20,104) and Investment in fixed assets (net) (-€18,920)
- Receivables within one year +€17,598
up €17,598 (+33.2%), from €52,952 to €70,550
of which Trade receivables: +€14,181
- Tangible fixed assets +€9,774
up €9,774 (+39.0%), from €25,082 to €34,856
of which Plant, machinery and equipment: +€8,990
- Other debts -€20,104
down €20,104 (-84.7%), from €23,733 to €3,629
- Trade debts +€13,253
up €13,253 (+14.9%), from €88,878 to €102,131
- Tax, wage and social debts -€8,370
down €8,370 (-20.1%), from €41,623 to €33,253
of which Taxes: -€7,952
- Gross operating margin -€59,062
down €59,062 (-45.3%), from €130,261 to €71,199
- Taxes -€14,158
down €14,158 (-87.6%), from €16,169 to €2,011
- Staff costs +€2,806
up €2,806 (+5.1%), from €54,483 to €57,289
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 | €198,001 | €183,800 | -€14,200 | -7.2% |
| Fixed assets | 21/28 | €25,242 | €35,016 | +€9,774 | +38.7% |
| Tangible fixed assets | 22/27 | €25,082 | €34,856 | +€9,774 | +39.0% |
| Plant, machinery and equipment | 23 | €17,227 | €26,217 | +€8,990 | +52.2% |
| Furniture and vehicles | 24 | €7,856 | €8,639 | +€784 | +10.0% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €172,758 | €148,784 | -€23,974 | -13.9% |
| Stocks and contracts in progress | 3 | €86,437 | €63,072 | -€23,365 | -27.0% |
| Stocks | 30/36 | €86,437 | €63,072 | -€23,365 | -27.0% |
| Amounts receivable within one year | 40/41 | €52,952 | €70,550 | +€17,598 | +33.2% |
| Trade receivables | 40 | €52,827 | €67,008 | +€14,181 | +26.8% |
| Other amounts receivable | 41 | €125 | €3,542 | +€3,417 | +2734.8% |
| Cash at bank and in hand | 54/58 | €33,369 | €14,394 | -€18,974 | -56.9% |
| Deferred charges and accrued income | 490/1 | €0 | €768 | +€768 | |
| Total equity and liabilities | 10/49 | €198,001 | €183,800 | -€14,200 | -7.2% |
| Equity | 10/15 | €43,766 | €44,788 | +€1,022 | +2.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,711 | €36,733 | +€1,022 | +2.9% |
| Amounts payable | 17/49 | €154,234 | €139,013 | -€15,222 | -9.9% |
| Amounts payable within one year | 42/48 | €154,234 | €139,013 | -€15,222 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €88,878 | €102,131 | +€13,253 | +14.9% |
| Suppliers | 440/4 | €88,878 | €102,131 | +€13,253 | +14.9% |
| Taxes, remuneration and social security | 45 | €41,623 | €33,253 | -€8,370 | -20.1% |
| Taxes | 450/3 | €27,848 | €19,896 | -€7,952 | -28.6% |
| Remuneration and social security | 454/9 | €13,775 | €13,357 | -€418 | -3.0% |
| Other amounts payable | 47/48 | €23,733 | €3,629 | -€20,104 | -84.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €54,483 | €57,289 | +€2,806 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,287 | €9,146 | -€141 | -1.5% |
| Other operating charges | 640/8 | €139 | €410 | +€271 | +195.1% |
| Gross operating margin | 9900 | €130,261 | €71,199 | -€59,062 | -45.3% |
| Operating profit (loss) | 9901 | €66,352 | €4,354 | -€61,998 | -93.4% |
| Financial income | 75/76B | €7 | €4 | -€3 | -41.9% |
| Recurring financial income | 75 | €7 | €4 | -€3 | -41.9% |
| Financial charges | 65/66B | €2,480 | €1,326 | -€1,154 | -46.5% |
| Recurring financial charges | 65 | €2,480 | €1,326 | -€1,154 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | €63,880 | €3,032 | -€60,847 | -95.3% |
| Income taxes | 67/77 | €16,169 | €2,011 | -€14,158 | -87.6% |
| Profit (loss) for the period | 9904 | €47,711 | €1,022 | -€46,690 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,711 | €1,022 | -€46,690 | -97.9% |
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 9 October 2026 via checked.be.