Verhaeghe 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.
Verhaeghe Pharma
Largest movements
- Tangible fixed assets +€63,569
up €63,569 (+116%), from €55,002 to €118,571
of which Furniture and vehicles: +€66,386
- Receivables within one year -€10,740
down €10,740 (-85.5%), from €12,556 to €1,816
of which Trade receivables: -€9,808
- Reserves +€88,428
up €88,428 (+25.2%), from €350,899 to €439,327
- Other debts -€26,311
down €26,311 (-11.1%), from €237,436 to €211,125
- Gross operating margin +€10,729
up €10,729 (+8.5%), from €126,363 to €137,092
- Financial charges -€2,021
down €2,021 (-9.2%), from €21,929 to €19,908
- Depreciation +€1,943
up €1,943 (+49.3%), from €3,942 to €5,885
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 | €994,427 | €1,050,845 | +€56,418 | +5.7% |
| Fixed assets | 21/28 | €855,002 | €918,571 | +€63,569 | +7.4% |
| Tangible fixed assets | 22/27 | €55,002 | €118,571 | +€63,569 | +116% |
| Land and buildings | 22 | €45,152 | €43,746 | -€1,406 | -3.1% |
| Plant, machinery and equipment | 23 | €2,114 | €1,404 | -€711 | -33.6% |
| Furniture and vehicles | 24 | €3,685 | €70,071 | +€66,386 | +1,801% |
| Other tangible fixed assets | 26 | €4,050 | €3,350 | -€700 | -17.3% |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Current assets | 29/58 | €139,425 | €132,273 | -€7,152 | -5.1% |
| Amounts receivable within one year | 40/41 | €12,556 | €1,816 | -€10,740 | -85.5% |
| Trade receivables | 40 | €10,285 | €477 | -€9,808 | -95.4% |
| Other amounts receivable | 41 | €2,271 | €1,339 | -€932 | -41.0% |
| Cash at bank and in hand | 54/58 | €118,348 | €123,119 | +€4,771 | +4.0% |
| Deferred charges and accrued income | 490/1 | €8,521 | €7,338 | -€1,183 | -13.9% |
| Total equity and liabilities | 10/49 | €994,427 | €1,050,845 | +€56,418 | +5.7% |
| Equity | 10/15 | €369,499 | €457,927 | +€88,428 | +23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €350,899 | €439,327 | +€88,428 | +25.2% |
| Distributable reserves | 133 | €350,899 | €439,327 | +€88,428 | +25.2% |
| Amounts payable | 17/49 | €624,929 | €592,918 | -€32,011 | -5.1% |
| Amounts payable after more than one year | 17 | €348,334 | €347,393 | -€941 | -0.3% |
| Financial debts | 170/4 | €348,334 | €347,393 | -€941 | -0.3% |
| Amounts payable within one year | 42/48 | €276,595 | €245,525 | -€31,070 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €23,333 | €29,539 | +€6,206 | +26.6% |
| Trade debts | 44 | €1,724 | €18 | -€1,706 | -99.0% |
| Suppliers | 440/4 | €1,724 | €18 | -€1,706 | -99.0% |
| Taxes, remuneration and social security | 45 | €14,102 | €4,843 | -€9,259 | -65.7% |
| Taxes | 450/3 | €14,102 | €4,843 | -€9,259 | -65.7% |
| Other amounts payable | 47/48 | €237,436 | €211,125 | -€26,311 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,942 | €5,885 | +€1,943 | +49.3% |
| Other operating charges | 640/8 | €1,876 | €1,757 | -€119 | -6.3% |
| Gross operating margin | 9900 | €126,363 | €137,092 | +€10,729 | +8.5% |
| Operating profit (loss) | 9901 | €120,546 | €129,450 | +€8,904 | +7.4% |
| Financial income | 75/76B | - | €69 | +€69 | |
| Recurring financial income | 75 | - | €69 | +€69 | |
| Financial charges | 65/66B | €21,929 | €19,908 | -€2,021 | -9.2% |
| Recurring financial charges | 65 | €21,929 | €19,908 | -€2,021 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €98,617 | €109,610 | +€10,993 | +11.1% |
| Income taxes | 67/77 | €20,229 | €21,182 | +€953 | +4.7% |
| Profit (loss) for the period | 9904 | €78,388 | €88,428 | +€10,041 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,388 | €88,428 | +€10,041 | +12.8% |
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 24 October 2026 via checked.be.