PHARMOVAN: 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.
PHARMOVAN
Largest movements
- Cash -€46,756
down €46,756 (-24.3%), from €192,693 to €145,937
mainly Contributions, distributions and other (-€127,500) and Other debts (-€52,000)
- Stocks and contracts -€11,745
down €11,745 (-5.4%), from €217,229 to €205,484
- Deferred charges and accrued income +€8,987
up €8,987 (+159.1%), from €5,647 to €14,634
- Other debts -€52,000
down €52,000 (-29.0%), from €179,500 to €127,500
- Debts after one year -€23,041
down €23,041 (-31.0%), from €74,397 to €51,356
- Trade debts +€12,912
up €12,912 (+9.7%), from €133,127 to €146,039
- Gross operating margin -€46,899
down €46,899 (-13.4%), from €350,767 to €303,869
- Staff costs +€7,103
up €7,103 (+5.6%), from €127,322 to €134,425
- Taxes -€6,104
down €6,104 (-20.8%), from €29,390 to €23,286
- Depreciation +€4,627
up €4,627 (+92.6%), from €4,998 to €9,625
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 | €676,681 | €626,313 | -€50,368 | -7.4% |
| Fixed assets | 21/28 | €44,814 | €43,609 | -€1,205 | -2.7% |
| Tangible fixed assets | 22/27 | €39,814 | €38,609 | -€1,205 | -3.0% |
| Land and buildings | 22 | €4,013 | €2,904 | -€1,110 | -27.7% |
| Plant, machinery and equipment | 23 | €32,036 | €28,086 | -€3,950 | -12.3% |
| Furniture and vehicles | 24 | €3,765 | €7,620 | +€3,855 | +102.4% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €631,867 | €582,704 | -€49,163 | -7.8% |
| Stocks and contracts in progress | 3 | €217,229 | €205,484 | -€11,745 | -5.4% |
| Stocks | 30/36 | €217,229 | €205,484 | -€11,745 | -5.4% |
| Amounts receivable within one year | 40/41 | €216,298 | €216,648 | +€350 | +0.2% |
| Trade receivables | 40 | €149,643 | €155,163 | +€5,521 | +3.7% |
| Other amounts receivable | 41 | €66,655 | €61,485 | -€5,170 | -7.8% |
| Cash at bank and in hand | 54/58 | €192,693 | €145,937 | -€46,756 | -24.3% |
| Deferred charges and accrued income | 490/1 | €5,647 | €14,634 | +€8,987 | +159.1% |
| Total equity and liabilities | 10/49 | €676,681 | €626,313 | -€50,368 | -7.4% |
| Equity | 10/15 | €248,985 | €249,395 | +€411 | +0.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €187,485 | €187,895 | +€411 | +0.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €181,335 | €181,745 | +€411 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €427,696 | €376,918 | -€50,778 | -11.9% |
| Amounts payable after more than one year | 17 | €74,397 | €51,356 | -€23,041 | -31.0% |
| Financial debts | 170/4 | €74,397 | €51,356 | -€23,041 | -31.0% |
| Amounts payable within one year | 42/48 | €351,055 | €323,154 | -€27,901 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €22,285 | €23,041 | +€756 | +3.4% |
| Financial debts | 43 | - | €5,098 | +€5,098 | |
| Credit institutions | 430/8 | - | €5,098 | +€5,098 | |
| Trade debts | 44 | €133,127 | €146,039 | +€12,912 | +9.7% |
| Suppliers | 440/4 | €133,127 | €146,039 | +€12,912 | +9.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €16,143 | €21,475 | +€5,333 | +33.0% |
| Taxes | 450/3 | €828 | €0 | -€828 | -100.0% |
| Remuneration and social security | 454/9 | €15,315 | €21,475 | +€6,160 | +40.2% |
| Other amounts payable | 47/48 | €179,500 | €127,500 | -€52,000 | -29.0% |
| Accrued charges and deferred income | 492/3 | €2,244 | €2,408 | +€164 | +7.3% |
| Remuneration, social security and pensions | 62 | €127,322 | €134,425 | +€7,103 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,998 | €9,625 | +€4,627 | +92.6% |
| Other operating charges | 640/8 | €444 | €484 | +€39 | +8.8% |
| Gross operating margin | 9900 | €350,767 | €303,869 | -€46,899 | -13.4% |
| Operating profit (loss) | 9901 | €218,002 | €159,335 | -€58,667 | -26.9% |
| Financial income | 75/76B | €2,002 | €1,718 | -€283 | -14.2% |
| Recurring financial income | 75 | €2,002 | €1,718 | -€283 | -14.2% |
| Financial charges | 65/66B | €11,050 | €9,856 | -€1,193 | -10.8% |
| Recurring financial charges | 65 | €11,050 | €9,856 | -€1,193 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €208,955 | €151,197 | -€57,758 | -27.6% |
| Income taxes | 67/77 | €29,390 | €23,286 | -€6,104 | -20.8% |
| Profit (loss) for the period | 9904 | €179,564 | €127,911 | -€51,654 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €179,564 | €127,911 | -€51,654 | -28.8% |
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 4 October 2026 via checked.be.