PolyPeptide: 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.
What changed
PolyPeptide
NACE 21.100, Manufacture of basic pharmaceutical products and pharmaceutical preparations
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7.2m
2024 · -€3.2m+€10.4m
Equity
€103.8m
2024 · €96.6m+€7.2m
Cash
€87,135
2024 · €307,106-€219,971
Balance sheet total
€331.7m
2024 · €271.1m+€60.7m
Largest movements
Assets
- Receivables within one year +€31.1m
up €31.1m (+97.8%), from €31.8m to €62.9m
of which Trade receivables: +€31.1m
- Stocks and contracts +€17.6m
up €17.6m (+24.9%), from €70.5m to €88.1m
- Tangible fixed assets +€12.3m
up €12.3m (+7.3%), from €168.1m to €180.4m
of which Plant, machinery and equipment: +€24.7m
Equity and liabilities
- Trade debts +€23.3m
up €23.3m (+45.8%), from €50.9m to €74.2m
- Debts after one year +€16.4m
up €16.4m (+14.6%), from €112.2m to €128.7m
- Other debts +€7.0m
up €7.0m (+85055.3%), from €8,254 to €7.0m
- Profit (loss) carried forward +€6.9m
up €6.9m (+12.9%), from €53.4m to €60.3m
- Tax, wage and social debts +€6.4m
up €6.4m (+68.9%), from €9.3m to €15.7m
of which Taxes: +€3.8m
Income statement
- Turnover +€28.2m
up €28.2m (+22.0%), from €127.9m to €156.1m
- Goods and materials +€18.5m
up €18.5m (+65.2%), from €28.5m to €47.0m
of which Purchases: +€24.9m
- Services and other goods -€8.9m
down €8.9m (-19.2%), from €46.5m to €37.5m
- Staff costs +€5.6m
up €5.6m (+11.0%), from €51.1m to €56.8m
- Depreciation +€5.2m
up €5.2m (+85.6%), from €6.0m to €11.2m
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
-€3.2m
Turnover
+€28.2m
Other operating income
+€295,617
Goods and materials
-€18.5m
Services and other goods
+€8.9m
Staff costs
-€5.6m
Depreciation
-€5.2m
Write-downs
+€1.3m
Provisions
-€168,003
Other operating charges
+€85,736
Other operating items
+€1.5m
Financial income
+€957,648
Financial charges
+€1.0m
Taxes
-€2.4m
Result 2025
€7.2m
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
+€7.1m
Investment
-€23.5m
Financing
+€16.1m
Cash 2024
€307,106
From operations (derived)
+€7.1m
Net result for the year
+€7.2m
Depreciation
+€11.2m
Stocks and contracts
-€17.6m
Receivables within one year
-€31.1m
Smaller working-capital items
+€16,128
Provisions
+€679,532
Trade debts
+€23.3m
Tax, wage and social debts
+€6.4m
Other debts
+€7.0m
Investment (derived)
-€23.5m
Investment in fixed assets (net)
-€23.5m
Financing
+€16.1m
Debts after one year
+€16.4m
Current portion of long-term debt
-€272,962
Contributions, distributions and other
-€50,674
Cash 2025
€87,135
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €271,065,115 | €331,744,197 | +€60.7m | +22.4% |
| Fixed assets | 21/28 | €168,279,149 | €180,558,414 | +€12.3m | +7.3% |
| Intangible fixed assets | 21 | €174,294 | €151,148 | -€23,146 | -13.3% |
| Tangible fixed assets | 22/27 | €168,104,856 | €180,407,266 | +€12.3m | +7.3% |
| Land and buildings | 22 | €25,907,847 | €27,431,870 | +€1.5m | +5.9% |
| Plant, machinery and equipment | 23 | €91,406,417 | €116,092,109 | +€24.7m | +27.0% |
| Furniture and vehicles | 24 | €6,854,318 | €16,103,143 | +€9.2m | +134.9% |
| Leasing and similar rights | 25 | €3,782,037 | €3,528,650 | -€253,387 | -6.7% |
| Assets under construction and advance payments | 27 | €40,154,237 | €17,251,494 | -€22.9m | -57.0% |
| Current assets | 29/58 | €102,785,966 | €151,185,783 | +€48.4m | +47.1% |
| Stocks and contracts in progress | 3 | €70,487,845 | €88,059,414 | +€17.6m | +24.9% |
| Stocks | 30/36 | €70,487,845 | €88,059,414 | +€17.6m | +24.9% |
| Raw materials and consumables | 30/31 | €45,159,553 | €43,501,392 | -€1.7m | -3.7% |
| Work in progress | 32 | €21,444,966 | €44,125,186 | +€22.7m | +105.8% |
| Finished goods | 33 | €3,883,326 | €432,836 | -€3.5m | -88.9% |
| Amounts receivable within one year | 40/41 | €31,811,147 | €62,936,232 | +€31.1m | +97.8% |
| Trade receivables | 40 | €31,278,096 | €62,347,748 | +€31.1m | +99.3% |
| Other amounts receivable | 41 | €533,051 | €588,484 | +€55,433 | +10.4% |
| Cash at bank and in hand | 54/58 | €307,106 | €87,135 | -€219,971 | -71.6% |
| Deferred charges and accrued income | 490/1 | €179,867 | €103,001 | -€76,866 | -42.7% |
| Total equity and liabilities | 10/49 | €271,065,115 | €331,744,197 | +€60.7m | +22.4% |
| Equity | 10/15 | €96,606,018 | €103,798,985 | +€7.2m | +7.4% |
| Contributions | 10/11 | €40,000,000 | €40,000,000 | = | 0.0% |
| Capital | 10 | €40,000,000 | €40,000,000 | = | 0.0% |
| Issued capital | 100 | €40,000,000 | €40,000,000 | = | 0.0% |
| Reserves | 13 | €2,976,579 | €3,338,761 | +€362,182 | +12.2% |
| Non-distributable reserves | 130/1 | €2,976,579 | €3,338,761 | +€362,182 | +12.2% |
| Legal reserve | 130 | €2,976,579 | €3,338,761 | +€362,182 | +12.2% |
| Profit (loss) carried forward | 14 | €53,388,738 | €60,270,197 | +€6.9m | +12.9% |
| Investment grants | 15 | €240,702 | €190,028 | -€50,674 | -21.1% |
| Provisions and deferred taxes | 16 | €946,642 | €1,626,174 | +€679,532 | +71.8% |
| Provisions for liabilities and charges | 160/5 | €946,642 | €1,626,174 | +€679,532 | +71.8% |
| Pensions and similar obligations | 160 | €876,642 | €824,521 | -€52,121 | -5.9% |
| Other liabilities and charges | 164/5 | €70,000 | €801,653 | +€731,653 | +1045.2% |
| Amounts payable | 17/49 | €173,512,455 | €226,319,038 | +€52.8m | +30.4% |
| Amounts payable after more than one year | 17 | €112,237,523 | €128,657,090 | +€16.4m | +14.6% |
| Financial debts | 170/4 | €112,237,523 | €128,657,090 | +€16.4m | +14.6% |
| Leasing and similar obligations | 172 | €2,099,992 | €1,519,559 | -€580,433 | -27.6% |
| Other loans | 174 | €110,137,531 | €127,137,531 | +€17.0m | +15.4% |
| Amounts payable within one year | 42/48 | €61,058,716 | €97,506,469 | +€36.4m | +59.7% |
| Current portion of amounts payable after more than one year | 42 | €856,788 | €583,826 | -€272,962 | -31.9% |
| Trade debts | 44 | €50,911,582 | €74,220,380 | +€23.3m | +45.8% |
| Suppliers | 440/4 | €50,911,582 | €74,220,380 | +€23.3m | +45.8% |
| Taxes, remuneration and social security | 45 | €9,282,091 | €15,673,468 | +€6.4m | +68.9% |
| Taxes | 450/3 | €3,558,685 | €7,336,027 | +€3.8m | +106.1% |
| Remuneration and social security | 454/9 | €5,723,406 | €8,337,441 | +€2.6m | +45.7% |
| Other amounts payable | 47/48 | €8,254 | €7,028,795 | +€7.0m | +85055.3% |
| Accrued charges and deferred income | 492/3 | €216,216 | €155,478 | -€60,738 | -28.1% |
| Operating income | 70/76A | €137,774,034 | €166,327,058 | +€28.6m | +20.7% |
| Turnover | 70 | €127,937,096 | €156,109,657 | +€28.2m | +22.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €2,055,768 | €4,075,058 | +€2.0m | +98.2% |
| Own construction capitalised | 72 | €2,763,243 | €828,799 | -€1.9m | -70.0% |
| Other operating income | 74 | €5,017,928 | €5,313,545 | +€295,617 | +5.9% |
| Operating charges | 60/66A | €132,685,774 | €150,417,800 | +€17.7m | +13.4% |
| Goods for resale, raw materials and consumables | 60 | €28,464,141 | €47,011,343 | +€18.5m | +65.2% |
| Purchases | 600/8 | €32,508,393 | €57,431,585 | +€24.9m | +76.7% |
| Change in stocks: decrease (increase) | 609 | -€4,044,252 | -€10,420,243 | -€6.4m | -157.7% |
| Services and other goods | 61 | €46,481,004 | €37,536,565 | -€8.9m | -19.2% |
| Remuneration, social security and pensions | 62 | €51,145,302 | €56,767,949 | +€5.6m | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,019,837 | €11,171,609 | +€5.2m | +85.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,766,968 | -€3,076,268 | -€1.3m | -74.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €511,529 | €679,532 | +€168,003 | +32.8% |
| Other operating charges | 640/8 | €401,521 | €315,786 | -€85,736 | -21.4% |
| Non-recurring operating charges | 66A | €1,429,408 | €11,284 | -€1.4m | -99.2% |
| Operating profit (loss) | 9901 | €5,088,260 | €15,909,259 | +€10.8m | +212.7% |
| Financial income | 75/76B | €684,603 | €1,642,251 | +€957,648 | +139.9% |
| Recurring financial income | 75 | €684,603 | €1,642,251 | +€957,648 | +139.9% |
| Other financial income | 752/9 | €684,603 | €1,642,251 | +€957,648 | +139.9% |
| Financial charges | 65/66B | €8,503,948 | €7,488,321 | -€1.0m | -11.9% |
| Recurring financial charges | 65 | €8,503,948 | €7,488,321 | -€1.0m | -11.9% |
| Debt charges | 650 | €6,734,431 | €5,843,454 | -€890,977 | -13.2% |
| Other financial charges | 652/9 | €1,769,517 | €1,644,867 | -€124,650 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,731,085 | €10,063,190 | +€12.8m | |
| Income taxes | 67/77 | €435,169 | €2,819,548 | +€2.4m | +547.9% |
| Taxes | 670/3 | €435,169 | €2,819,548 | +€2.4m | +547.9% |
| Profit (loss) for the period | 9904 | -€3,166,254 | €7,243,641 | +€10.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,166,254 | €7,243,641 | +€10.4m |
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 11 October 2026 via checked.be.