SA 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.
SA PHARMA
Largest movements
- Cash +€35,789
up €35,789 (+48.2%), from €74,205 to €109,994
mainly Net result for the year (+€54,394) and Deferred charges and accrued income (+€1,405)
- Receivables within one year +€16,928
up €16,928 (+62.9%), from €26,933 to €43,861
of which Other amounts receivable: +€14,240
- Profit (loss) carried forward +€54,394
up €54,394 (+99.1%), from €54,884 to €109,278
- Tax, wage and social debts -€3,052
down €3,052 (-9.2%), from €32,999 to €29,947
of which Remuneration and social security: -€3,700
- Gross operating margin -€2,911
down €2,911 (-4.1%), from €71,657 to €68,746
- Depreciation -€1,749
no longer reported in 2025 (was €1,749)
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 | €102,543 | €153,855 | +€51,312 | +50.0% |
| Current assets | 29/58 | €102,543 | €153,855 | +€51,312 | +50.0% |
| Amounts receivable within one year | 40/41 | €26,933 | €43,861 | +€16,928 | +62.9% |
| Trade receivables | 40 | €26,933 | €29,621 | +€2,688 | +10.0% |
| Other amounts receivable | 41 | - | €14,240 | +€14,240 | |
| Cash at bank and in hand | 54/58 | €74,205 | €109,994 | +€35,789 | +48.2% |
| Deferred charges and accrued income | 490/1 | €1,405 | - | -€1,405 | |
| Total equity and liabilities | 10/49 | €102,543 | €153,855 | +€51,312 | +50.0% |
| Equity | 10/15 | €68,884 | €123,278 | +€54,394 | +79.0% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,884 | €109,278 | +€54,394 | +99.1% |
| Amounts payable | 17/49 | €33,659 | €30,577 | -€3,082 | -9.2% |
| Amounts payable within one year | 42/48 | €33,659 | €30,577 | -€3,082 | -9.2% |
| Trade debts | 44 | - | €630 | +€630 | |
| Suppliers | 440/4 | - | €630 | +€630 | |
| Taxes, remuneration and social security | 45 | €32,999 | €29,947 | -€3,052 | -9.2% |
| Taxes | 450/3 | €25,799 | €26,447 | +€648 | +2.5% |
| Remuneration and social security | 454/9 | €7,200 | €3,500 | -€3,700 | -51.4% |
| Other amounts payable | 47/48 | €661 | - | -€661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,749 | - | -€1,749 | |
| Other operating charges | 640/8 | €557 | €465 | -€91 | -16.4% |
| Gross operating margin | 9900 | €71,657 | €68,746 | -€2,911 | -4.1% |
| Operating profit (loss) | 9901 | €69,352 | €68,280 | -€1,071 | -1.5% |
| Financial income | 75/76B | - | €386 | +€386 | |
| Recurring financial income | 75 | - | €386 | +€386 | |
| Financial charges | 65/66B | €106 | €48 | -€58 | -54.5% |
| Recurring financial charges | 65 | €106 | €48 | -€58 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €69,246 | €68,618 | -€628 | -0.9% |
| Income taxes | 67/77 | €13,529 | €14,224 | +€695 | +5.1% |
| Profit (loss) for the period | 9904 | €55,717 | €54,394 | -€1,323 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,717 | €54,394 | -€1,323 | -2.4% |
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 2 October 2026 via checked.be.