SANOPHAR: 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
SANOPHAR
NACE 47.730, Retail sale of pharmaceutical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€98,632
2024 · €173,715-€75,083
Equity
€477,087
2024 · €476,455+€632
Cash
€256,637
2024 · €235,471+€21,165
Balance sheet total
€1.2m
2024 · €1.2m-€16,870
Largest movements
Assets
- Receivables within one year -€44,812
down €44,812 (-17.3%), from €258,597 to €213,785
of which Other amounts receivable: -€27,855
- Cash +€21,165
up €21,165 (+9.0%), from €235,471 to €256,637
mainly Net result for the year (+€98,632) and Receivables within one year (+€44,812)
- Stocks and contracts +€17,631
up €17,631 (+6.4%), from €277,578 to €295,209
Equity and liabilities
- Debts after one year -€12,000
down €12,000 (-7.7%), from €156,000 to €144,000
Income statement
- Gross operating margin -€53,389
down €53,389 (-13.1%), from €406,062 to €352,673
- Staff costs +€19,315
up €19,315 (+9.4%), from €204,766 to €224,081
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
€173,715
Gross operating margin
-€53,389
Staff costs
-€19,315
Depreciation
+€1,734
Other operating charges
-€169
Financial income
-€527
Financial charges
-€2,636
Taxes
-€780
Result 2025
€98,632
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
+€131,165
Investment
€0
Financing
-€110,000
Cash 2024
€235,471
From operations (derived)
+€131,165
Net result for the year
+€98,632
Depreciation
+€11,795
Stocks and contracts
-€17,631
Receivables within one year
+€44,812
Deferred charges and accrued income
-€941
Trade debts
-€10,908
Tax, wage and social debts
-€1,637
Advances received
-€3,282
Other debts
+€10,326
Financing
-€110,000
Debts after one year
-€12,000
Contributions, distributions and other
-€98,000
Cash 2025
€256,637
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,184,226 | €1,167,356 | -€16,870 | -1.4% |
| Fixed assets | 21/28 | €409,378 | €397,583 | -€11,795 | -2.9% |
| Tangible fixed assets | 22/27 | €399,378 | €387,583 | -€11,795 | -3.0% |
| Land and buildings | 22 | €386,852 | €378,156 | -€8,696 | -2.2% |
| Plant, machinery and equipment | 23 | €9,471 | €7,607 | -€1,865 | -19.7% |
| Furniture and vehicles | 24 | €3,055 | €1,820 | -€1,235 | -40.4% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €774,848 | €769,773 | -€5,074 | -0.7% |
| Stocks and contracts in progress | 3 | €277,578 | €295,209 | +€17,631 | +6.4% |
| Stocks | 30/36 | €277,578 | €295,209 | +€17,631 | +6.4% |
| Amounts receivable within one year | 40/41 | €258,597 | €213,785 | -€44,812 | -17.3% |
| Trade receivables | 40 | €202,969 | €186,012 | -€16,957 | -8.4% |
| Other amounts receivable | 41 | €55,628 | €27,773 | -€27,855 | -50.1% |
| Cash at bank and in hand | 54/58 | €235,471 | €256,637 | +€21,165 | +9.0% |
| Deferred charges and accrued income | 490/1 | €3,202 | €4,144 | +€941 | +29.4% |
| Total equity and liabilities | 10/49 | €1,184,226 | €1,167,356 | -€16,870 | -1.4% |
| Equity | 10/15 | €476,455 | €477,087 | +€632 | +0.1% |
| Contributions | 10/11 | €355,773 | €355,773 | = | 0.0% |
| Capital | 10 | €355,773 | €355,773 | = | 0.0% |
| Issued capital | 100 | €355,773 | €355,773 | = | 0.0% |
| Reserves | 13 | €35,666 | €35,666 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,577 | €35,577 | = | 0.0% |
| Legal reserve | 130 | €35,577 | €35,577 | = | 0.0% |
| Tax-exempt reserves | 132 | €89 | €89 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,016 | €85,648 | +€632 | +0.7% |
| Amounts payable | 17/49 | €707,771 | €690,270 | -€17,501 | -2.5% |
| Amounts payable after more than one year | 17 | €156,000 | €144,000 | -€12,000 | -7.7% |
| Financial debts | 170/4 | €156,000 | €144,000 | -€12,000 | -7.7% |
| Amounts payable within one year | 42/48 | €551,771 | €546,270 | -€5,501 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €146,835 | €135,927 | -€10,908 | -7.4% |
| Suppliers | 440/4 | €146,835 | €135,927 | -€10,908 | -7.4% |
| Advances received on contracts in progress | 46 | €3,282 | €0 | -€3,282 | -100.0% |
| Taxes, remuneration and social security | 45 | €37,718 | €36,082 | -€1,637 | -4.3% |
| Taxes | 450/3 | €490 | €202 | -€288 | -58.8% |
| Remuneration and social security | 454/9 | €37,229 | €35,880 | -€1,349 | -3.6% |
| Other amounts payable | 47/48 | €351,935 | €362,261 | +€10,326 | +2.9% |
| Remuneration, social security and pensions | 62 | €204,766 | €224,081 | +€19,315 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,529 | €11,795 | -€1,734 | -12.8% |
| Other operating charges | 640/8 | €4,107 | €4,277 | +€169 | +4.1% |
| Gross operating margin | 9900 | €406,062 | €352,673 | -€53,389 | -13.1% |
| Operating profit (loss) | 9901 | €183,660 | €112,520 | -€71,140 | -38.7% |
| Financial income | 75/76B | €4,666 | €4,139 | -€527 | -11.3% |
| Recurring financial income | 75 | €4,666 | €4,139 | -€527 | -11.3% |
| Financial charges | 65/66B | €13,237 | €15,873 | +€2,636 | +19.9% |
| Recurring financial charges | 65 | €13,237 | €15,873 | +€2,636 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €175,089 | €100,786 | -€74,303 | -42.4% |
| Income taxes | 67/77 | €1,374 | €2,154 | +€780 | +56.8% |
| Profit (loss) for the period | 9904 | €173,715 | €98,632 | -€75,083 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €173,715 | €98,632 | -€75,083 | -43.2% |
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 9 October 2026 via checked.be.