PHARMENFORM: 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.
PHARMENFORM
Largest movements
- Cash +€25,755
up €25,755 (+42.2%), from €61,006 to €86,761
mainly Other debts (+€173,423) and Net result for the year (+€54,895)
- Tangible fixed assets -€22,451
down €22,451 (-41.4%), from €54,235 to €31,784
of which Furniture and vehicles: -€21,963
- Stocks and contracts +€17,165
up €17,165 (+7.9%), from €217,398 to €234,563
- Receivables within one year +€11,446
up €11,446 (+8.0%), from €143,716 to €155,163
of which Trade receivables: +€13,642
- Intangible fixed assets -€9,500
down €9,500 (-17.4%), from €54,612 to €45,112
- Other debts +€173,423
up €173,423 (+456.3%), from €38,005 to €211,428
- Reserves -€166,029
down €166,029 (-71.6%), from €231,764 to €65,735
- Profit (loss) carried forward +€54,895
up €54,895 (+57.4%), from €95,603 to €150,498
- Trade debts -€25,441
down €25,441 (-26.7%), from €95,279 to €69,837
- Tax, wage and social debts -€14,500
down €14,500 (-23.0%), from €63,124 to €48,624
of which Remuneration and social security: -€13,965
- Gross operating margin -€34,462
down €34,462 (-7.0%), from €491,756 to €457,294
- Taxes -€12,228
down €12,228 (-44.0%), from €27,807 to €15,579
- Staff costs -€7,301
down €7,301 (-2.1%), from €350,547 to €343,246
- Depreciation -€5,179
down €5,179 (-12.1%), from €42,839 to €37,660
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 | €545,081 | €567,837 | +€22,756 | +4.2% |
| Fixed assets | 21/28 | €112,547 | €80,596 | -€31,951 | -28.4% |
| Intangible fixed assets | 21 | €54,612 | €45,112 | -€9,500 | -17.4% |
| Tangible fixed assets | 22/27 | €54,235 | €31,784 | -€22,451 | -41.4% |
| Land and buildings | 22 | €3,765 | €3,277 | -€489 | -13.0% |
| Furniture and vehicles | 24 | €50,470 | €28,507 | -€21,963 | -43.5% |
| Financial fixed assets | 28 | €3,700 | €3,700 | = | 0.0% |
| Current assets | 29/58 | €432,534 | €487,241 | +€54,707 | +12.6% |
| Stocks and contracts in progress | 3 | €217,398 | €234,563 | +€17,165 | +7.9% |
| Stocks | 30/36 | €217,398 | €234,563 | +€17,165 | +7.9% |
| Amounts receivable within one year | 40/41 | €143,716 | €155,163 | +€11,446 | +8.0% |
| Trade receivables | 40 | €141,520 | €155,163 | +€13,642 | +9.6% |
| Other amounts receivable | 41 | €2,196 | €0 | -€2,196 | -100.0% |
| Cash at bank and in hand | 54/58 | €61,006 | €86,761 | +€25,755 | +42.2% |
| Deferred charges and accrued income | 490/1 | €10,413 | €10,754 | +€341 | +3.3% |
| Total equity and liabilities | 10/49 | €545,081 | €567,837 | +€22,756 | +4.2% |
| Equity | 10/15 | €345,967 | €234,833 | -€111,134 | -32.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €231,764 | €65,735 | -€166,029 | -71.6% |
| Distributable reserves | 133 | €231,764 | €65,735 | -€166,029 | -71.6% |
| Profit (loss) carried forward | 14 | €95,603 | €150,498 | +€54,895 | +57.4% |
| Amounts payable | 17/49 | €199,114 | €333,004 | +€133,889 | +67.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €196,408 | €329,890 | +€133,482 | +68.0% |
| Trade debts | 44 | €95,279 | €69,837 | -€25,441 | -26.7% |
| Suppliers | 440/4 | €95,279 | €69,837 | -€25,441 | -26.7% |
| Taxes, remuneration and social security | 45 | €63,124 | €48,624 | -€14,500 | -23.0% |
| Taxes | 450/3 | €6,172 | €5,638 | -€535 | -8.7% |
| Remuneration and social security | 454/9 | €56,951 | €42,986 | -€13,965 | -24.5% |
| Other amounts payable | 47/48 | €38,005 | €211,428 | +€173,423 | +456.3% |
| Accrued charges and deferred income | 492/3 | €2,707 | €3,114 | +€407 | +15.1% |
| Remuneration, social security and pensions | 62 | €350,547 | €343,246 | -€7,301 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,839 | €37,660 | -€5,179 | -12.1% |
| Other operating charges | 640/8 | €438 | €586 | +€149 | +33.9% |
| Gross operating margin | 9900 | €491,756 | €457,294 | -€34,462 | -7.0% |
| Operating profit (loss) | 9901 | €97,932 | €75,802 | -€22,130 | -22.6% |
| Financial income | 75/76B | €301 | €196 | -€105 | -35.0% |
| Recurring financial income | 75 | €301 | €196 | -€105 | -35.0% |
| Financial charges | 65/66B | €4,691 | €5,524 | +€832 | +17.7% |
| Recurring financial charges | 65 | €4,691 | €5,524 | +€832 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €93,542 | €70,474 | -€23,068 | -24.7% |
| Income taxes | 67/77 | €27,807 | €15,579 | -€12,228 | -44.0% |
| Profit (loss) for the period | 9904 | €65,735 | €54,895 | -€10,840 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,735 | €54,895 | -€10,840 | -16.5% |
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 29 September 2026 via checked.be.