USINA PHARM: 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.
USINA PHARM
Largest movements
- Current investments +€600,000
new in 2025: €600,000
- Cash -€263,218
down €263,218 (-25.0%), from €1.1m to €789,789
mainly Current investments (-€600,000) and Debts after one year (-€112,079)
- Tangible fixed assets -€186,407
down €186,407 (-11.9%), from €1.6m to €1.4m
of which Plant, machinery and equipment: -€130,750
- Receivables within one year +€102,333
up €102,333 (+30.2%), from €338,701 to €441,034
of which Trade receivables: +€101,880
- Reserves +€349,643
up €349,643 (+22.3%), from €1.6m to €1.9m
- Debts after one year -€112,079
down €112,079 (-14.6%), from €768,665 to €656,586
- Investment grants +€79,418
up €79,418 (+9,990%), from €795 to €80,213
- Trade debts -€59,182
down €59,182 (-55.4%), from €106,805 to €47,623
- Gross operating margin +€69,605
up €69,605 (+9.8%), from €713,847 to €783,452
- Staff costs -€49,893
down €49,893 (-38.4%), from €130,056 to €80,163
- Taxes +€42,861
up €42,861 (+38.0%), from €112,746 to €155,607
- Financial income +€23,036
up €23,036 (+1,325%), from €1,739 to €24,775
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 | €2,968,971 | €3,219,484 | +€250,513 | +8.4% |
| Fixed assets | 21/28 | €1,573,903 | €1,382,694 | -€191,209 | -12.1% |
| Intangible fixed assets | 21 | €11,088 | €6,286 | -€4,802 | -43.3% |
| Tangible fixed assets | 22/27 | €1,562,685 | €1,376,278 | -€186,407 | -11.9% |
| Land and buildings | 22 | €1,203,664 | €1,146,690 | -€56,974 | -4.7% |
| Plant, machinery and equipment | 23 | €329,461 | €198,711 | -€130,750 | -39.7% |
| Furniture and vehicles | 24 | €29,560 | €30,877 | +€1,317 | +4.5% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €1,395,068 | €1,836,790 | +€441,722 | +31.7% |
| Amounts receivable within one year | 40/41 | €338,701 | €441,034 | +€102,333 | +30.2% |
| Trade receivables | 40 | €337,409 | €439,289 | +€101,880 | +30.2% |
| Other amounts receivable | 41 | €1,292 | €1,745 | +€453 | +35.1% |
| Current investments | 50/53 | - | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €1,053,007 | €789,789 | -€263,218 | -25.0% |
| Deferred charges and accrued income | 490/1 | €3,360 | €5,967 | +€2,607 | +77.6% |
| Total equity and liabilities | 10/49 | €2,968,971 | €3,219,484 | +€250,513 | +8.4% |
| Equity | 10/15 | €1,584,627 | €2,013,688 | +€429,061 | +27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,565,232 | €1,914,875 | +€349,643 | +22.3% |
| Distributable reserves | 133 | €1,565,232 | €1,914,875 | +€349,643 | +22.3% |
| Investment grants | 15 | €795 | €80,213 | +€79,418 | +9,990% |
| Amounts payable | 17/49 | €1,384,344 | €1,205,796 | -€178,548 | -12.9% |
| Amounts payable after more than one year | 17 | €768,665 | €656,586 | -€112,079 | -14.6% |
| Financial debts | 170/4 | €768,665 | €656,586 | -€112,079 | -14.6% |
| Amounts payable within one year | 42/48 | €612,746 | €546,397 | -€66,349 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €110,616 | €112,079 | +€1,463 | +1.3% |
| Trade debts | 44 | €106,805 | €47,623 | -€59,182 | -55.4% |
| Suppliers | 440/4 | €106,805 | €47,623 | -€59,182 | -55.4% |
| Taxes, remuneration and social security | 45 | €154,336 | €159,972 | +€5,636 | +3.7% |
| Taxes | 450/3 | €130,011 | €145,062 | +€15,051 | +11.6% |
| Remuneration and social security | 454/9 | €24,325 | €14,910 | -€9,415 | -38.7% |
| Other amounts payable | 47/48 | €240,989 | €226,723 | -€14,266 | -5.9% |
| Accrued charges and deferred income | 492/3 | €2,933 | €2,813 | -€120 | -4.1% |
| Remuneration, social security and pensions | 62 | €130,056 | €80,163 | -€49,893 | -38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,610 | €208,092 | -€6,518 | -3.0% |
| Other operating charges | 640/8 | €3,327 | €3,318 | -€9 | -0.3% |
| Gross operating margin | 9900 | €713,847 | €783,452 | +€69,605 | +9.8% |
| Operating profit (loss) | 9901 | €365,854 | €491,879 | +€126,025 | +34.4% |
| Financial income | 75/76B | €1,739 | €24,775 | +€23,036 | +1,325% |
| Recurring financial income | 75 | €1,739 | €24,775 | +€23,036 | +1,325% |
| Financial charges | 65/66B | €14,292 | €11,404 | -€2,888 | -20.2% |
| Recurring financial charges | 65 | €14,292 | €11,404 | -€2,888 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €353,301 | €505,250 | +€151,949 | +43.0% |
| Income taxes | 67/77 | €112,746 | €155,607 | +€42,861 | +38.0% |
| Profit (loss) for the period | 9904 | €240,555 | €349,643 | +€109,088 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €240,555 | €349,643 | +€109,088 | +45.3% |
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 18 October 2026 via checked.be.