TM Pharma: 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.
TM Pharma
Largest movements
- Tangible fixed assets +€420,127
up €420,127 (+56.8%), from €740,118 to €1.2m
of which Land and buildings: +€402,998
- Receivables within one year -€308,768
down €308,768 (-49.3%), from €625,683 to €316,915
of which Other amounts receivable: -€307,392
- Cash +€101,697
up €101,697 (+639.1%), from €15,912 to €117,609
mainly Receivables within one year (+€308,768) and Debts after one year (+€243,509)
- Debts after one year +€243,509
up €243,509 (+57.6%), from €422,417 to €665,926
- Profit (loss) carried forward -€45,372
down €45,372, from €0 to -€45,372
- Current portion of long-term debt +€17,043
up €17,043 (+44.7%), from €38,099 to €55,142
- Gross operating margin -€34,626
down €34,626 (-41.3%), from €83,775 to €49,149
- Depreciation +€17,390
up €17,390 (+25.3%), from €68,636 to €86,026
- Financial charges +€4,599
up €4,599 (+64.3%), from €7,156 to €11,755
- Taxes -€1,053
down €1,053 (-59.9%), from €1,759 to €706
- Financial income -€1,016
down €1,016 (-5.7%), from €17,897 to €16,881
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 | €1,463,953 | €1,682,595 | +€218,642 | +14.9% |
| Fixed assets | 21/28 | €768,858 | €1,188,985 | +€420,127 | +54.6% |
| Tangible fixed assets | 22/27 | €740,118 | €1,160,245 | +€420,127 | +56.8% |
| Land and buildings | 22 | €694,897 | €1,097,896 | +€402,998 | +58.0% |
| Plant, machinery and equipment | 23 | €1,985 | €1,221 | -€765 | -38.5% |
| Furniture and vehicles | 24 | €21,822 | €32,662 | +€10,840 | +49.7% |
| Other tangible fixed assets | 26 | €21,414 | €28,467 | +€7,054 | +32.9% |
| Financial fixed assets | 28 | €28,740 | €28,740 | = | 0.0% |
| Current assets | 29/58 | €695,095 | €493,610 | -€201,485 | -29.0% |
| Amounts receivable within one year | 40/41 | €625,683 | €316,915 | -€308,768 | -49.3% |
| Trade receivables | 40 | €57,452 | €56,077 | -€1,375 | -2.4% |
| Other amounts receivable | 41 | €568,231 | €260,839 | -€307,392 | -54.1% |
| Cash at bank and in hand | 54/58 | €15,912 | €117,609 | +€101,697 | +639.1% |
| Deferred charges and accrued income | 490/1 | €53,500 | €59,085 | +€5,585 | +10.4% |
| Total equity and liabilities | 10/49 | €1,463,953 | €1,682,595 | +€218,642 | +14.9% |
| Equity | 10/15 | €961,718 | €916,345 | -€45,372 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €943,118 | €943,118 | = | 0.0% |
| Distributable reserves | 133 | €943,118 | €943,118 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€45,372 | -€45,372 | |
| Amounts payable | 17/49 | €502,236 | €766,250 | +€264,014 | +52.6% |
| Amounts payable after more than one year | 17 | €422,417 | €665,926 | +€243,509 | +57.6% |
| Financial debts | 170/4 | €422,417 | €665,926 | +€243,509 | +57.6% |
| Amounts payable within one year | 42/48 | €79,819 | €100,324 | +€20,505 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €38,099 | €55,142 | +€17,043 | +44.7% |
| Trade debts | 44 | €26,111 | €30,113 | +€4,002 | +15.3% |
| Suppliers | 440/4 | €26,111 | €30,113 | +€4,002 | +15.3% |
| Taxes, remuneration and social security | 45 | €15,609 | €15,069 | -€539 | -3.5% |
| Taxes | 450/3 | €15,609 | €15,069 | -€539 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,636 | €86,026 | +€17,390 | +25.3% |
| Other operating charges | 640/8 | €12,136 | €12,916 | +€779 | +6.4% |
| Gross operating margin | 9900 | €83,775 | €49,149 | -€34,626 | -41.3% |
| Operating profit (loss) | 9901 | €3,002 | -€49,792 | -€52,795 | |
| Financial income | 75/76B | €17,897 | €16,881 | -€1,016 | -5.7% |
| Recurring financial income | 75 | €17,897 | €16,881 | -€1,016 | -5.7% |
| Financial charges | 65/66B | €7,156 | €11,755 | +€4,599 | +64.3% |
| Recurring financial charges | 65 | €7,156 | €11,755 | +€4,599 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €13,744 | -€44,666 | -€58,410 | |
| Income taxes | 67/77 | €1,759 | €706 | -€1,053 | -59.9% |
| Profit (loss) for the period | 9904 | €11,985 | -€45,372 | -€57,357 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,985 | -€45,372 | -€57,357 |
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.