VDV Pharma: what changed
What changed
VDV Pharma
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€66,371
2024 · €106,614-€40,244
Equity
€201,427
2024 · €135,056+€66,371
Cash
€62,510
2024 · €140,392-€77,882
Balance sheet total
€1.5m
2024 · €1.6m-€107,390
Largest movements
Assets
- Cash -€77,882
down €77,882 (-55.5%), from €140,392 to €62,510
mainly Other debts (-€135,067) and Debts after one year (-€48,005)
- Intangible fixed assets -€49,500
down €49,500 (-14.0%), from €353,250 to €303,750
- Receivables within one year -€35,018
down €35,018 (-27.7%), from €126,295 to €91,277
of which Other amounts receivable: -€26,116
- Current investments +€23,884
up €23,884 (+53.1%), from €45,000 to €68,884
- Tangible fixed assets +€18,179
up €18,179 (+5.3%), from €342,653 to €360,833
of which Leasing and similar rights: +€26,140
Equity and liabilities
- Other debts -€135,067
down €135,067 (-19.3%), from €698,838 to €563,771
- Profit (loss) carried forward +€66,371
up €66,371 (+60.3%), from €110,056 to €176,427
- Debts after one year -€48,005
down €48,005 (-7.7%), from €627,479 to €579,474
Income statement
- Staff costs +€30,656
up €30,656 (+47.3%), from €64,773 to €95,429
- Gross operating margin -€19,918
down €19,918 (-6.6%), from €301,615 to €281,698
- Taxes -€13,029
down €13,029 (-41.3%), from €31,557 to €18,528
- Depreciation +€4,030
up €4,030 (+5.8%), from €69,298 to €73,327
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
€106,614
Gross operating margin
-€19,918
Staff costs
-€30,656
Depreciation
-€4,030
Other operating charges
+€1,888
Financial income
-€1,957
Financial charges
+€1,399
Taxes
+€13,029
Result 2025
€66,371
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
+€29,243
Investment
-€65,689
Financing
-€41,436
Cash 2024
€140,392
From operations (derived)
+€29,243
Net result for the year
+€66,371
Depreciation
+€73,327
Stocks and contracts
-€12,120
Receivables within one year
+€35,018
Deferred charges and accrued income
-€1,028
Trade debts
+€377
Tax, wage and social debts
+€3,552
Other debts
-€135,067
Accrued charges and deferred income
-€1,187
Investment (derived)
-€65,689
Investment in fixed assets (net)
-€41,804
Current investments
-€23,884
Financing
-€41,436
Debts after one year
-€48,005
Current portion of long-term debt
+€6,569
Cash 2025
€62,510
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,625,548 | €1,518,158 | -€107,390 | -6.6% |
| Formation expenses | 20 | €210 | €8 | -€202 | -96.0% |
| Fixed assets | 21/28 | €1,204,240 | €1,172,919 | -€31,321 | -2.6% |
| Intangible fixed assets | 21 | €353,250 | €303,750 | -€49,500 | -14.0% |
| Tangible fixed assets | 22/27 | €342,653 | €360,833 | +€18,179 | +5.3% |
| Land and buildings | 22 | €318,560 | €313,820 | -€4,739 | -1.5% |
| Plant, machinery and equipment | 23 | €20,904 | €17,845 | -€3,059 | -14.6% |
| Furniture and vehicles | 24 | €3,189 | €3,027 | -€162 | -5.1% |
| Leasing and similar rights | 25 | - | €26,140 | +€26,140 | |
| Financial fixed assets | 28 | €508,336 | €508,336 | = | 0.0% |
| Current assets | 29/58 | €421,098 | €345,230 | -€75,868 | -18.0% |
| Stocks and contracts in progress | 3 | €106,770 | €118,891 | +€12,120 | +11.4% |
| Stocks | 30/36 | €106,770 | €118,891 | +€12,120 | +11.4% |
| Amounts receivable within one year | 40/41 | €126,295 | €91,277 | -€35,018 | -27.7% |
| Trade receivables | 40 | €88,679 | €79,777 | -€8,902 | -10.0% |
| Other amounts receivable | 41 | €37,616 | €11,500 | -€26,116 | -69.4% |
| Current investments | 50/53 | €45,000 | €68,884 | +€23,884 | +53.1% |
| Cash at bank and in hand | 54/58 | €140,392 | €62,510 | -€77,882 | -55.5% |
| Deferred charges and accrued income | 490/1 | €2,641 | €3,669 | +€1,028 | +38.9% |
| Total equity and liabilities | 10/49 | €1,625,548 | €1,518,158 | -€107,390 | -6.6% |
| Equity | 10/15 | €135,056 | €201,427 | +€66,371 | +49.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,056 | €176,427 | +€66,371 | +60.3% |
| Amounts payable | 17/49 | €1,490,492 | €1,316,731 | -€173,761 | -11.7% |
| Amounts payable after more than one year | 17 | €627,479 | €579,474 | -€48,005 | -7.7% |
| Financial debts | 170/4 | €627,479 | €579,474 | -€48,005 | -7.7% |
| Amounts payable within one year | 42/48 | €861,826 | €737,257 | -€124,569 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €67,076 | €73,646 | +€6,569 | +9.8% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €50,115 | €50,491 | +€377 | +0.8% |
| Suppliers | 440/4 | €50,115 | €50,491 | +€377 | +0.8% |
| Taxes, remuneration and social security | 45 | €15,797 | €19,349 | +€3,552 | +22.5% |
| Taxes | 450/3 | €4,110 | €327 | -€3,782 | -92.0% |
| Remuneration and social security | 454/9 | €11,688 | €19,022 | +€7,334 | +62.8% |
| Other amounts payable | 47/48 | €698,838 | €563,771 | -€135,067 | -19.3% |
| Accrued charges and deferred income | 492/3 | €1,187 | €0 | -€1,187 | -100% |
| Remuneration, social security and pensions | 62 | €64,773 | €95,429 | +€30,656 | +47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,298 | €73,327 | +€4,030 | +5.8% |
| Other operating charges | 640/8 | €5,339 | €3,451 | -€1,888 | -35.4% |
| Gross operating margin | 9900 | €301,615 | €281,698 | -€19,918 | -6.6% |
| Operating profit (loss) | 9901 | €162,205 | €109,491 | -€52,715 | -32.5% |
| Financial income | 75/76B | €1,957 | €0 | -€1,957 | -100% |
| Recurring financial income | 75 | €1,957 | €0 | -€1,957 | -100% |
| Financial charges | 65/66B | €25,990 | €24,592 | -€1,399 | -5.4% |
| Recurring financial charges | 65 | €25,990 | €24,592 | -€1,399 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €138,172 | €84,899 | -€53,273 | -38.6% |
| Income taxes | 67/77 | €31,557 | €18,528 | -€13,029 | -41.3% |
| Profit (loss) for the period | 9904 | €106,614 | €66,371 | -€40,244 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €106,614 | €66,371 | -€40,244 | -37.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.