SECUNDUM ARTEM: what changed
What changed
SECUNDUM ARTEM
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€99,011
2024 · €100,619-€1,608
Equity
€206,242
2024 · €207,231-€989
Cash
€286,985
2024 · €241,111+€45,874
Balance sheet total
€496,587
2024 · €471,884+€24,703
Largest movements
Assets
- Cash +€45,874
up €45,874 (+19.0%), from €241,111 to €286,985
mainly Net result for the year (+€99,011) and Other debts (+€26,908)
- Stocks and contracts -€15,336
down €15,336 (-10.7%), from €142,879 to €127,543
- Receivables within one year -€5,076
down €5,076 (-6.1%), from €83,212 to €78,136
of which Trade receivables: -€6,582
Equity and liabilities
- Profit (loss) carried forward -€186,771
down €186,771 (-100%), from €186,771 to €0
- Reserves +€185,782
up €185,782 (+9,988%), from €1,860 to €187,642
- Other debts +€26,908
up €26,908 (+21.1%), from €127,636 to €154,544
- Short-term financial debts +€12,357
up €12,357 (+100%), from €12,312 to €24,669
- Trade debts -€11,921
down €11,921 (-12.2%), from €97,577 to €85,655
Income statement
- Gross operating margin +€15,697
up €15,697 (+5.6%), from €282,747 to €298,444
- Write-downs +€8,471
up €8,471, from -€704 to €7,767
- Financial charges +€4,579
up €4,579 (+50.7%), from €9,031 to €13,610
- Financial income -€3,677
down €3,677 (-93.8%), from €3,919 to €242
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€100,619
Gross operating margin
+€15,697
Staff costs
+€836
Depreciation
+€602
Write-downs
-€8,471
Other operating charges
-€18
Financial income
-€3,677
Financial charges
-€4,579
Taxes
-€1,998
Result 2025
€99,011
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€134,859
Investment
-€1,342
Financing
-€87,643
Cash 2024
€241,111
From operations (derived)
+€134,859
Net result for the year
+€99,011
Depreciation
+€639
Stocks and contracts
+€15,336
Receivables within one year
+€5,076
Deferred charges and accrued income
+€1,463
Trade debts
-€11,921
Tax, wage and social debts
-€1,652
Other debts
+€26,908
Investment (derived)
-€1,342
Investment in fixed assets (net)
-€1,342
Financing
-€87,643
Short-term financial debts
+€12,357
Contributions, distributions and other
-€100,000
Cash 2025
€286,985
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €471,884 | €496,587 | +€24,703 | +5.2% |
| Fixed assets | 21/28 | €550 | €1,254 | +€703 | +128% |
| Tangible fixed assets | 22/27 | €550 | €1,254 | +€703 | +128% |
| Plant, machinery and equipment | 23 | €403 | €111 | -€292 | -72.4% |
| Furniture and vehicles | 24 | €148 | €1,143 | +€995 | +675% |
| Current assets | 29/58 | €471,334 | €495,333 | +€23,999 | +5.1% |
| Stocks and contracts in progress | 3 | €142,879 | €127,543 | -€15,336 | -10.7% |
| Stocks | 30/36 | €142,879 | €127,543 | -€15,336 | -10.7% |
| Amounts receivable within one year | 40/41 | €83,212 | €78,136 | -€5,076 | -6.1% |
| Trade receivables | 40 | €69,557 | €62,975 | -€6,582 | -9.5% |
| Other amounts receivable | 41 | €13,655 | €15,161 | +€1,506 | +11.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €241,111 | €286,985 | +€45,874 | +19.0% |
| Deferred charges and accrued income | 490/1 | €4,132 | €2,668 | -€1,463 | -35.4% |
| Total equity and liabilities | 10/49 | €471,884 | €496,587 | +€24,703 | +5.2% |
| Equity | 10/15 | €207,231 | €206,242 | -€989 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €187,642 | +€185,782 | +9,988% |
| Distributable reserves | 133 | €1,860 | €187,642 | +€185,782 | +9,988% |
| Profit (loss) carried forward | 14 | €186,771 | €0 | -€186,771 | -100% |
| Amounts payable | 17/49 | €264,653 | €290,345 | +€25,692 | +9.7% |
| Amounts payable within one year | 42/48 | €264,653 | €290,345 | +€25,692 | +9.7% |
| Financial debts | 43 | €12,312 | €24,669 | +€12,357 | +100% |
| Credit institutions | 430/8 | €12,312 | €24,669 | +€12,357 | +100% |
| Trade debts | 44 | €97,577 | €85,655 | -€11,921 | -12.2% |
| Suppliers | 440/4 | €97,577 | €85,655 | -€11,921 | -12.2% |
| Taxes, remuneration and social security | 45 | €27,128 | €25,476 | -€1,652 | -6.1% |
| Taxes | 450/3 | €3,690 | €4,214 | +€524 | +14.2% |
| Remuneration and social security | 454/9 | €23,438 | €21,262 | -€2,176 | -9.3% |
| Other amounts payable | 47/48 | €127,636 | €154,544 | +€26,908 | +21.1% |
| Remuneration, social security and pensions | 62 | €141,800 | €140,964 | -€836 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,241 | €639 | -€602 | -48.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€704 | €7,767 | +€8,471 | |
| Other operating charges | 640/8 | €384 | €403 | +€18 | +4.7% |
| Gross operating margin | 9900 | €282,747 | €298,444 | +€15,697 | +5.6% |
| Operating profit (loss) | 9901 | €140,026 | €148,671 | +€8,646 | +6.2% |
| Financial income | 75/76B | €3,919 | €242 | -€3,677 | -93.8% |
| Recurring financial income | 75 | €3,919 | €242 | -€3,677 | -93.8% |
| Financial charges | 65/66B | €9,031 | €13,610 | +€4,579 | +50.7% |
| Recurring financial charges | 65 | €9,031 | €13,610 | +€4,579 | +50.7% |
| Profit (loss) for the period before taxes | 9903 | €134,913 | €135,303 | +€390 | +0.3% |
| Income taxes | 67/77 | €34,294 | €36,292 | +€1,998 | +5.8% |
| Profit (loss) for the period | 9904 | €100,619 | €99,011 | -€1,608 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,619 | €99,011 | -€1,608 | -1.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.