TAXAPHARM: 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.
TAXAPHARM
Largest movements
- Stocks and contracts -€53,210
no longer reported in 2025 (was €53,210)
- Receivables within one year -€25,649
down €25,649 (-76.5%), from €33,542 to €7,893
of which Trade receivables: -€25,668
- Cash -€5,736
down €5,736 (-79.8%), from €7,184 to €1,448
mainly Net result for the year (-€64,664) and Trade debts (-€37,005)
- Tangible fixed assets -€5,142
down €5,142 (-16.4%), from €31,281 to €26,139
of which Plant, machinery and equipment: -€3,913
- Profit (loss) carried forward -€64,664
down €64,664 (-16.1%), from -€401,834 to -€466,498
- Trade debts -€37,005
down €37,005 (-25.1%), from €147,654 to €110,648
- Other debts +€13,390
up €13,390 (+5.4%), from €247,966 to €261,356
- Tax, wage and social debts -€5,150
down €5,150 (-62.6%), from €8,234 to €3,083
- Short-term financial debts +€2,616
up €2,616 (+11.3%), from €23,190 to €25,806
- Gross operating margin -€112,098
down €112,098, from €76,170 to -€35,928
- Staff costs -€58,258
down €58,258 (-78.9%), from €73,860 to €15,602
- Financial charges -€2,464
down €2,464 (-34.0%), from €7,246 to €4,782
- Other operating charges +€1,597
up €1,597 (+96.9%), from €1,647 to €3,243
- Depreciation -€1,439
down €1,439 (-21.9%), from €6,581 to €5,142
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.
Derived cash bridge
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 | €126,293 | €35,480 | -€90,813 | -71.9% |
| Fixed assets | 21/28 | €31,281 | €26,139 | -€5,142 | -16.4% |
| Tangible fixed assets | 22/27 | €31,281 | €26,139 | -€5,142 | -16.4% |
| Plant, machinery and equipment | 23 | €30,052 | €26,139 | -€3,913 | -13.0% |
| Furniture and vehicles | 24 | €1,229 | - | -€1,229 | |
| Current assets | 29/58 | €95,012 | €9,341 | -€85,671 | -90.2% |
| Stocks and contracts in progress | 3 | €53,210 | - | -€53,210 | |
| Stocks | 30/36 | €53,210 | - | -€53,210 | |
| Amounts receivable within one year | 40/41 | €33,542 | €7,893 | -€25,649 | -76.5% |
| Trade receivables | 40 | €27,258 | €1,590 | -€25,668 | -94.2% |
| Other amounts receivable | 41 | €6,283 | €6,303 | +€19 | +0.3% |
| Cash at bank and in hand | 54/58 | €7,184 | €1,448 | -€5,736 | -79.8% |
| Deferred charges and accrued income | 490/1 | €1,076 | - | -€1,076 | |
| Total equity and liabilities | 10/49 | €126,293 | €35,480 | -€90,813 | -71.9% |
| Equity | 10/15 | -€381,374 | -€446,038 | -€64,664 | -17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€401,834 | -€466,498 | -€64,664 | -16.1% |
| Amounts payable | 17/49 | €507,668 | €481,518 | -€26,150 | -5.2% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €427,043 | €400,893 | -€26,150 | -6.1% |
| Financial debts | 43 | €23,190 | €25,806 | +€2,616 | +11.3% |
| Credit institutions | 430/8 | €23,190 | €25,806 | +€2,616 | +11.3% |
| Trade debts | 44 | €147,654 | €110,648 | -€37,005 | -25.1% |
| Suppliers | 440/4 | €147,654 | €110,648 | -€37,005 | -25.1% |
| Taxes, remuneration and social security | 45 | €8,234 | €3,083 | -€5,150 | -62.6% |
| Remuneration and social security | 454/9 | €8,234 | €3,083 | -€5,150 | -62.6% |
| Other amounts payable | 47/48 | €247,966 | €261,356 | +€13,390 | +5.4% |
| Accrued charges and deferred income | 492/3 | €5,625 | €5,625 | = | 0.0% |
| Non-recurring operating income | 76A | €1,790 | - | -€1,790 | |
| Remuneration, social security and pensions | 62 | €73,860 | €15,602 | -€58,258 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,581 | €5,142 | -€1,439 | -21.9% |
| Other operating charges | 640/8 | €1,647 | €3,243 | +€1,597 | +96.9% |
| Gross operating margin | 9900 | €76,170 | -€35,928 | -€112,098 | |
| Operating profit (loss) | 9901 | -€5,917 | -€59,914 | -€53,997 | -913% |
| Financial income | 75/76B | €42 | €32 | -€10 | -23.9% |
| Recurring financial income | 75 | €42 | €32 | -€10 | -23.9% |
| Financial charges | 65/66B | €7,246 | €4,782 | -€2,464 | -34.0% |
| Recurring financial charges | 65 | €7,246 | €4,782 | -€2,464 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,121 | -€64,664 | -€51,543 | -393% |
| Profit (loss) for the period | 9904 | -€13,121 | -€64,664 | -€51,543 | -393% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,121 | -€64,664 | -€51,543 | -393% |
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 14 October 2026 via checked.be.