PHARMONY: 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.
PHARMONY
Largest movements
- Receivables within one year +€63,575
up €63,575 (+55.8%), from €113,855 to €177,430
- Cash +€12,616
up €12,616 (+147.7%), from €8,541 to €21,156
mainly Trade debts (+€501,756) and Tax, wage and social debts (+€36,944)
- Deferred charges and accrued income +€3,394
new in 2025: €3,394
- Trade debts +€501,756
up €501,756 (+51.1%), from €981,584 to €1.5m
- Profit (loss) carried forward -€255,925
down €255,925 (-6.5%), from -€3.9m to -€4.2m
- Current portion of long-term debt -€171,875
down €171,875 (-91.7%), from €187,500 to €15,625
- Tax, wage and social debts +€36,944
up €36,944 (+34.6%), from €106,775 to €143,719
of which Taxes: +€31,286
- Debts after one year -€18,500
down €18,500 (-0.7%), from €2.7m to €2.7m
- Gross operating margin +€82,069
up €82,069 (+21.7%), from €377,931 to €460,000
- Financial charges -€62,816
down €62,816 (-92.4%), from €67,957 to €5,141
- Staff costs +€51,070
up €51,070 (+7.9%), from €646,306 to €697,376
- Write-downs +€9,363
new in 2025: €9,363
- Taxes -€7,035
down €7,035 (-82.3%), from €8,550 to €1,515
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 | €150,066 | €226,511 | +€76,444 | +50.9% |
| Fixed assets | 21/28 | €11,324 | €10,444 | -€880 | -7.8% |
| Tangible fixed assets | 22/27 | €1,211 | €330 | -€880 | -72.7% |
| Furniture and vehicles | 24 | €1,211 | €330 | -€880 | -72.7% |
| Financial fixed assets | 28 | €10,113 | €10,113 | = | 0.0% |
| Current assets | 29/58 | €138,742 | €216,067 | +€77,325 | +55.7% |
| Stocks and contracts in progress | 3 | €16,347 | €14,087 | -€2,260 | -13.8% |
| Stocks | 30/36 | €16,347 | €14,087 | -€2,260 | -13.8% |
| Amounts receivable within one year | 40/41 | €113,855 | €177,430 | +€63,575 | +55.8% |
| Trade receivables | 40 | €113,855 | €177,430 | +€63,575 | +55.8% |
| Cash at bank and in hand | 54/58 | €8,541 | €21,156 | +€12,616 | +147.7% |
| Deferred charges and accrued income | 490/1 | - | €3,394 | +€3,394 | |
| Total equity and liabilities | 10/49 | €150,066 | €226,511 | +€76,444 | +50.9% |
| Equity | 10/15 | -€3,818,585 | -€4,074,509 | -€255,925 | -6.7% |
| Contributions | 10/11 | €119,012 | €119,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,937,597 | -€4,193,522 | -€255,925 | -6.5% |
| Amounts payable | 17/49 | €3,968,651 | €4,301,020 | +€332,369 | +8.4% |
| Amounts payable after more than one year | 17 | €2,676,837 | €2,658,337 | -€18,500 | -0.7% |
| Financial debts | 170/4 | €2,676,837 | €2,658,337 | -€18,500 | -0.7% |
| Amounts payable within one year | 42/48 | €1,275,859 | €1,642,684 | +€366,824 | +28.8% |
| Current portion of amounts payable after more than one year | 42 | €187,500 | €15,625 | -€171,875 | -91.7% |
| Trade debts | 44 | €981,584 | €1,483,340 | +€501,756 | +51.1% |
| Suppliers | 440/4 | €981,584 | €1,483,340 | +€501,756 | +51.1% |
| Taxes, remuneration and social security | 45 | €106,775 | €143,719 | +€36,944 | +34.6% |
| Taxes | 450/3 | €33,741 | €65,028 | +€31,286 | +92.7% |
| Remuneration and social security | 454/9 | €73,034 | €78,691 | +€5,657 | +7.7% |
| Accrued charges and deferred income | 492/3 | €15,955 | - | -€15,955 | |
| Remuneration, social security and pensions | 62 | €646,306 | €697,376 | +€51,070 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,074 | €880 | -€1,194 | -57.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,363 | +€9,363 | |
| Other operating charges | 640/8 | €1,773 | €1,650 | -€124 | -7.0% |
| Gross operating margin | 9900 | €377,931 | €460,000 | +€82,069 | +21.7% |
| Operating profit (loss) | 9901 | -€272,223 | -€249,269 | +€22,954 | +8.4% |
| Financial charges | 65/66B | €67,957 | €5,141 | -€62,816 | -92.4% |
| Recurring financial charges | 65 | €67,957 | €5,141 | -€62,816 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | -€340,180 | -€254,410 | +€85,770 | +25.2% |
| Income taxes | 67/77 | €8,550 | €1,515 | -€7,035 | -82.3% |
| Profit (loss) for the period | 9904 | -€348,730 | -€255,925 | +€92,805 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€348,730 | -€255,925 | +€92,805 | +26.6% |
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 30 September 2026 via checked.be.