Q-PHARM: 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.
Q-PHARM
Largest movements
- Cash +€27,775
up €27,775 (+62.4%), from €44,506 to €72,281
mainly Net result for the year (+€39,508) and Other debts (+€27,695)
- Receivables within one year +€11,281
up €11,281 (+25.6%), from €43,988 to €55,269
of which Other amounts receivable: +€13,164
- Reserves +€30,000
up €30,000 (+61.2%), from €49,000 to €79,000
- Other debts +€27,695
new in 2025: €27,695
- Profit (loss) carried forward -€23,074
no longer reported in 2025 (was €23,074)
- Tax, wage and social debts +€8,661
up €8,661 (+35.7%), from €24,283 to €32,944
- Trade debts -€5,972
down €5,972 (-54.2%), from €11,025 to €5,053
- Gross operating margin +€28,068
up €28,068 (+101.2%), from €27,731 to €55,799
- Taxes +€9,436
up €9,436 (+168.4%), from €5,604 to €15,039
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 | €108,382 | €145,692 | +€37,310 | +34.4% |
| Fixed assets | 21/28 | €1,221 | €808 | -€413 | -33.8% |
| Tangible fixed assets | 22/27 | €1,221 | €808 | -€413 | -33.8% |
| Furniture and vehicles | 24 | €1,221 | €808 | -€413 | -33.8% |
| Current assets | 29/58 | €107,161 | €144,884 | +€37,723 | +35.2% |
| Amounts receivable after more than one year | 29 | €18,667 | €17,333 | -€1,333 | -7.1% |
| Other amounts receivable | 291 | €18,667 | €17,333 | -€1,333 | -7.1% |
| Amounts receivable within one year | 40/41 | €43,988 | €55,269 | +€11,281 | +25.6% |
| Trade receivables | 40 | €18,815 | €16,931 | -€1,884 | -10.0% |
| Other amounts receivable | 41 | €25,174 | €38,338 | +€13,164 | +52.3% |
| Cash at bank and in hand | 54/58 | €44,506 | €72,281 | +€27,775 | +62.4% |
| Total equity and liabilities | 10/49 | €108,382 | €145,692 | +€37,310 | +34.4% |
| Equity | 10/15 | €73,074 | €80,000 | +€6,926 | +9.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €49,000 | €79,000 | +€30,000 | +61.2% |
| Distributable reserves | 133 | €49,000 | €79,000 | +€30,000 | +61.2% |
| Profit (loss) carried forward | 14 | €23,074 | - | -€23,074 | |
| Amounts payable | 17/49 | €35,308 | €65,692 | +€30,384 | +86.1% |
| Amounts payable within one year | 42/48 | €35,308 | €65,692 | +€30,384 | +86.1% |
| Trade debts | 44 | €11,025 | €5,053 | -€5,972 | -54.2% |
| Suppliers | 440/4 | €11,025 | €5,053 | -€5,972 | -54.2% |
| Taxes, remuneration and social security | 45 | €24,283 | €32,944 | +€8,661 | +35.7% |
| Taxes | 450/3 | €24,283 | €32,944 | +€8,661 | +35.7% |
| Other amounts payable | 47/48 | - | €27,695 | +€27,695 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18 | €413 | +€395 | +2187.5% |
| Other operating charges | 640/8 | €497 | €787 | +€290 | +58.3% |
| Gross operating margin | 9900 | €27,731 | €55,799 | +€28,068 | +101.2% |
| Operating profit (loss) | 9901 | €27,215 | €54,599 | +€27,384 | +100.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €50 | €52 | +€2 | +3.6% |
| Recurring financial charges | 65 | €50 | €52 | +€2 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €27,166 | €54,548 | +€27,382 | +100.8% |
| Income taxes | 67/77 | €5,604 | €15,039 | +€9,436 | +168.4% |
| Profit (loss) for the period | 9904 | €21,562 | €39,508 | +€17,946 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,562 | €39,508 | +€17,946 | +83.2% |
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 10 October 2026 via checked.be.