PI PHARMA: 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.
What changed
PI PHARMA
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€174,639
2024 · €26,306+€148,333
Equity
-€161,750
2024 · -€336,389+€174,639
Cash
€349,739
2024 · €1.2m-€892,633
Balance sheet total
€13.2m
2024 · €4.8m+€8.4m
Largest movements
Assets
- Receivables within one year +€9.5m
up €9.5m (+301.1%), from €3.2m to €12.6m
of which Trade receivables: +€9.5m
- Cash -€892,633
down €892,633 (-71.8%), from €1.2m to €349,739
mainly Receivables within one year (-€9.5m)
Equity and liabilities
- Trade debts +€5.0m
up €5.0m (+155.0%), from €3.2m to €8.2m
- Other debts +€1.9m
new in 2025: €1.9m
- Tax, wage and social debts +€1.3m
up €1.3m (+68.0%), from €1.9m to €3.2m
of which Taxes: +€1.3m
- Profit (loss) carried forward +€174,639
up €174,639 (+13.6%), from -€1.3m to -€1.1m
Income statement
- Turnover +€16.3m
up €16.3m (+40.7%), from €40.1m to €56.4m
- Goods and materials +€14.7m
up €14.7m (+41.5%), from €35.4m to €50.1m
of which Purchases: +€14.5m
- Other operating charges +€788,047
up €788,047 (+62.2%), from €1.3m to €2.1m
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.
Result 2024
€26,306
Turnover
+€16.3m
Other operating income
-€25,272
Goods and materials
-€14.7m
Services and other goods
-€168,243
Staff costs
-€27,909
Depreciation
+€18,849
Other operating charges
-€788,047
Other operating items
-€475,286
Financial income
+€21,109
Financial charges
+€14,535
Taxes
-€39,799
Result 2025
€174,639
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.
From operations
-€921,780
Investment
+€29,147
Financing
€0
Cash 2024
€1.2m
From operations (derived)
-€921,780
Net result for the year
+€174,639
Depreciation
+€47,849
Stocks and contracts
+€100,345
Receivables within one year
-€9.5m
Deferred charges and accrued income
+€35,515
Trade debts
+€5.0m
Tax, wage and social debts
+€1.3m
Other debts
+€1.9m
Investment (derived)
+€29,147
Investment in fixed assets (net)
+€29,147
Cash 2025
€349,739
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,815,498 | €13,202,253 | +€8.4m | +174.2% |
| Fixed assets | 21/28 | €152,331 | €75,335 | -€76,996 | -50.5% |
| Intangible fixed assets | 21 | €129,324 | €39,584 | -€89,740 | -69.4% |
| Tangible fixed assets | 22/27 | €23,007 | €35,751 | +€12,744 | +55.4% |
| Plant, machinery and equipment | 23 | €23,007 | €35,751 | +€12,744 | +55.4% |
| Current assets | 29/58 | €4,663,168 | €13,126,918 | +€8.5m | +181.5% |
| Stocks and contracts in progress | 3 | €227,303 | €126,958 | -€100,345 | -44.1% |
| Stocks | 30/36 | €227,303 | €126,958 | -€100,345 | -44.1% |
| Raw materials and consumables | 30/31 | €194,534 | €74,600 | -€119,934 | -61.7% |
| Goods purchased for resale | 34 | €32,769 | €52,358 | +€19,589 | +59.8% |
| Amounts receivable within one year | 40/41 | €3,152,117 | €12,644,361 | +€9.5m | +301.1% |
| Trade receivables | 40 | €3,096,415 | €12,644,361 | +€9.5m | +308.4% |
| Other amounts receivable | 41 | €55,702 | - | -€55,702 | |
| Cash at bank and in hand | 54/58 | €1,242,372 | €349,739 | -€892,633 | -71.8% |
| Deferred charges and accrued income | 490/1 | €41,375 | €5,860 | -€35,515 | -85.8% |
| Total equity and liabilities | 10/49 | €4,815,498 | €13,202,253 | +€8.4m | +174.2% |
| Equity | 10/15 | -€336,389 | -€161,750 | +€174,639 | +51.9% |
| Contributions | 10/11 | €862,500 | €862,500 | = | 0.0% |
| Capital | 10 | €862,500 | €862,500 | = | 0.0% |
| Issued capital | 100 | €862,500 | €862,500 | = | 0.0% |
| Reserves | 13 | €86,250 | €86,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €86,250 | €86,250 | = | 0.0% |
| Legal reserve | 130 | €86,250 | €86,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,285,139 | -€1,110,500 | +€174,639 | +13.6% |
| Amounts payable | 17/49 | €5,151,887 | €13,364,002 | +€8.2m | +159.4% |
| Amounts payable within one year | 42/48 | €5,151,887 | €13,364,002 | +€8.2m | +159.4% |
| Trade debts | 44 | €3,219,752 | €8,209,193 | +€5.0m | +155.0% |
| Suppliers | 440/4 | €3,219,752 | €8,209,193 | +€5.0m | +155.0% |
| Taxes, remuneration and social security | 45 | €1,932,135 | €3,246,078 | +€1.3m | +68.0% |
| Taxes | 450/3 | €1,781,455 | €3,080,261 | +€1.3m | +72.9% |
| Remuneration and social security | 454/9 | €150,679 | €165,817 | +€15,137 | +10.0% |
| Other amounts payable | 47/48 | - | €1,908,731 | +€1.9m | |
| Operating income | 70/76A | €40,621,451 | €56,915,642 | +€16.3m | +40.1% |
| Turnover | 70 | €40,057,635 | €56,377,098 | +€16.3m | +40.7% |
| Other operating income | 74 | €563,816 | €538,545 | -€25,272 | -4.5% |
| Operating charges | 60/66A | €40,281,464 | €56,423,167 | +€16.1m | +40.1% |
| Goods for resale, raw materials and consumables | 60 | €35,447,989 | €50,149,056 | +€14.7m | +41.5% |
| Purchases | 600/8 | €35,587,920 | €50,048,711 | +€14.5m | +40.6% |
| Change in stocks: decrease (increase) | 609 | -€139,931 | €100,345 | +€240,276 | |
| Services and other goods | 61 | €2,250,017 | €2,418,260 | +€168,243 | +7.5% |
| Remuneration, social security and pensions | 62 | €1,223,533 | €1,251,442 | +€27,909 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,698 | €47,849 | -€18,849 | -28.3% |
| Other operating charges | 640/8 | €1,267,135 | €2,055,182 | +€788,047 | +62.2% |
| Non-recurring operating charges | 66A | €26,092 | €501,378 | +€475,286 | +1821.6% |
| Operating profit (loss) | 9901 | €339,987 | €492,475 | +€152,488 | +44.9% |
| Financial income | 75/76B | €255 | €21,364 | +€21,109 | +8291.2% |
| Recurring financial income | 75 | €255 | €21,364 | +€21,109 | +8291.2% |
| Income from current assets | 751 | - | €21,323 | +€21,323 | |
| Other financial income | 752/9 | €255 | €41 | -€214 | -84.0% |
| Financial charges | 65/66B | €279,116 | €264,581 | -€14,535 | -5.2% |
| Recurring financial charges | 65 | €279,116 | €264,581 | -€14,535 | -5.2% |
| Debt charges | 650 | €229,820 | €184,433 | -€45,387 | -19.7% |
| Other financial charges | 652/9 | €49,297 | €80,148 | +€30,852 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €61,125 | €249,258 | +€188,133 | +307.8% |
| Income taxes | 67/77 | €34,820 | €74,619 | +€39,799 | +114.3% |
| Taxes | 670/3 | €36,000 | €80,000 | +€44,000 | +122.2% |
| Tax adjustments and reversals of tax provisions | 77 | €1,180 | €5,381 | +€4,201 | +355.8% |
| Profit (loss) for the period | 9904 | €26,306 | €174,639 | +€148,333 | +563.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,306 | €174,639 | +€148,333 | +563.9% |
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 4 October 2026 via checked.be.