VABO 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.
VABO PHARMA
Largest movements
- Tangible fixed assets -€82,126
down €82,126 (-16.0%), from €513,127 to €431,001
of which Plant, machinery and equipment: -€54,332
- Cash -€33,917
down €33,917 (-34.3%), from €99,025 to €65,108
mainly Debts after one year (-€243,077) and Current portion of long-term debt (-€104,719)
- Debts after one year -€243,077
down €243,077 (-100%), from €243,077 to €0
- Other debts +€217,350
up €217,350 (+60.2%), from €361,000 to €578,350
- Current portion of long-term debt -€104,719
down €104,719 (-100%), from €104,719 to €0
- Trade debts +€22,192
up €22,192 (+16.1%), from €137,794 to €159,986
- Accrued charges and deferred income +€16,492
up €16,492 (+562%), from €2,933 to €19,426
- Gross operating margin -€78,828
down €78,828 (-17.5%), from €451,116 to €372,287
- Staff costs -€17,049
down €17,049 (-7.5%), from €227,103 to €210,055
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 | €1,068,905 | €960,813 | -€108,092 | -10.1% |
| Fixed assets | 21/28 | €516,154 | €431,028 | -€85,126 | -16.5% |
| Tangible fixed assets | 22/27 | €513,127 | €431,001 | -€82,126 | -16.0% |
| Land and buildings | 22 | €414,278 | €384,875 | -€29,403 | -7.1% |
| Plant, machinery and equipment | 23 | €98,848 | €44,517 | -€54,332 | -55.0% |
| Furniture and vehicles | 24 | - | €1,609 | +€1,609 | |
| Financial fixed assets | 28 | €3,027 | €27 | -€3,000 | -99.1% |
| Current assets | 29/58 | €552,751 | €529,785 | -€22,966 | -4.2% |
| Stocks and contracts in progress | 3 | €243,124 | €243,782 | +€658 | +0.3% |
| Stocks | 30/36 | €243,124 | €243,782 | +€658 | +0.3% |
| Amounts receivable within one year | 40/41 | €202,555 | €211,170 | +€8,615 | +4.3% |
| Trade receivables | 40 | €89,009 | €81,689 | -€7,321 | -8.2% |
| Other amounts receivable | 41 | €113,545 | €129,481 | +€15,936 | +14.0% |
| Cash at bank and in hand | 54/58 | €99,025 | €65,108 | -€33,917 | -34.3% |
| Deferred charges and accrued income | 490/1 | €8,047 | €9,725 | +€1,679 | +20.9% |
| Total equity and liabilities | 10/49 | €1,068,905 | €960,813 | -€108,092 | -10.1% |
| Equity | 10/15 | €165,609 | €166,233 | +€624 | +0.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €115,609 | €116,233 | +€624 | +0.5% |
| Tax-exempt reserves | 132 | €3,348 | €3,348 | = | 0.0% |
| Distributable reserves | 133 | €112,260 | €112,884 | +€624 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €903,296 | €794,580 | -€108,716 | -12.0% |
| Amounts payable after more than one year | 17 | €243,077 | €0 | -€243,077 | -100% |
| Financial debts | 170/4 | €243,077 | €0 | -€243,077 | -100% |
| Amounts payable within one year | 42/48 | €657,286 | €775,154 | +€117,868 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €104,719 | €0 | -€104,719 | -100% |
| Financial debts | 43 | €15,033 | €12,248 | -€2,786 | -18.5% |
| Credit institutions | 430/8 | €15,033 | €12,248 | -€2,786 | -18.5% |
| Trade debts | 44 | €137,794 | €159,986 | +€22,192 | +16.1% |
| Suppliers | 440/4 | €137,794 | €159,986 | +€22,192 | +16.1% |
| Taxes, remuneration and social security | 45 | €38,740 | €24,571 | -€14,169 | -36.6% |
| Taxes | 450/3 | €7,611 | €4,568 | -€3,043 | -40.0% |
| Remuneration and social security | 454/9 | €31,129 | €20,003 | -€11,126 | -35.7% |
| Other amounts payable | 47/48 | €361,000 | €578,350 | +€217,350 | +60.2% |
| Accrued charges and deferred income | 492/3 | €2,933 | €19,426 | +€16,492 | +562% |
| Remuneration, social security and pensions | 62 | €227,103 | €210,055 | -€17,049 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,123 | €84,266 | +€143 | +0.2% |
| Other operating charges | 640/8 | €3,563 | €3,670 | +€107 | +3.0% |
| Non-recurring operating charges | 66A | - | €47,641 | +€47,641 | |
| Gross operating margin | 9900 | €451,116 | €372,287 | -€78,828 | -17.5% |
| Operating profit (loss) | 9901 | €136,326 | €26,655 | -€109,672 | -80.4% |
| Financial income | 75/76B | €28,065 | €29,497 | +€1,433 | +5.1% |
| Recurring financial income | 75 | €28,065 | €29,497 | +€1,433 | +5.1% |
| Financial charges | 65/66B | €21,722 | €23,329 | +€1,607 | +7.4% |
| Recurring financial charges | 65 | €21,722 | €23,329 | +€1,607 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €142,669 | €32,823 | -€109,846 | -77.0% |
| Income taxes | 67/77 | €3,383 | €2,199 | -€1,184 | -35.0% |
| Profit (loss) for the period | 9904 | €139,286 | €30,624 | -€108,662 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €139,286 | €30,624 | -€108,662 | -78.0% |
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 15 October 2026 via checked.be.