VERZELE 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.
VERZELE PHARMA
Largest movements
- Tangible fixed assets -€22,493
down €22,493 (-18.2%), from €123,625 to €101,132
of which Land and buildings: -€19,552
- Stocks and contracts -€19,631
down €19,631 (-13.6%), from €144,874 to €125,242
- Receivables within one year -€15,342
down €15,342 (-14.9%), from €102,773 to €87,432
of which Trade receivables: -€15,950
- Cash +€5,562
up €5,562 (+3.4%), from €163,566 to €169,128
mainly Net result for the year (+€38,414) and Depreciation (+€21,618)
- Debts after one year -€54,393
down €54,393 (-25.7%), from €211,329 to €156,935
- Reserves +€10,414
up €10,414 (+7.6%), from €137,335 to €147,749
of which Distributable reserves: +€10,414
- Trade debts -€8,564
down €8,564 (-14.0%), from €61,368 to €52,804
- Depreciation -€38,338
down €38,338 (-63.9%), from €59,957 to €21,618
- Gross operating margin -€16,803
down €16,803 (-8.3%), from €203,229 to €186,426
- Staff costs +€7,518
up €7,518 (+7.1%), from €106,599 to €114,117
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 | €550,859 | €500,597 | -€50,262 | -9.1% |
| Fixed assets | 21/28 | €128,625 | €106,132 | -€22,493 | -17.5% |
| Tangible fixed assets | 22/27 | €123,625 | €101,132 | -€22,493 | -18.2% |
| Land and buildings | 22 | €117,946 | €98,394 | -€19,552 | -16.6% |
| Furniture and vehicles | 24 | €5,679 | €2,738 | -€2,942 | -51.8% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €422,233 | €394,465 | -€27,768 | -6.6% |
| Stocks and contracts in progress | 3 | €144,874 | €125,242 | -€19,631 | -13.6% |
| Stocks | 30/36 | €144,874 | €125,242 | -€19,631 | -13.6% |
| Amounts receivable within one year | 40/41 | €102,773 | €87,432 | -€15,342 | -14.9% |
| Trade receivables | 40 | €100,078 | €84,128 | -€15,950 | -15.9% |
| Other amounts receivable | 41 | €2,695 | €3,304 | +€609 | +22.6% |
| Cash at bank and in hand | 54/58 | €163,566 | €169,128 | +€5,562 | +3.4% |
| Deferred charges and accrued income | 490/1 | €11,020 | €12,663 | +€1,643 | +14.9% |
| Total equity and liabilities | 10/49 | €550,859 | €500,597 | -€50,262 | -9.1% |
| Equity | 10/15 | €155,935 | €166,349 | +€10,414 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €137,335 | €147,749 | +€10,414 | +7.6% |
| Tax-exempt reserves | 132 | €1,120 | €1,120 | = | 0.0% |
| Distributable reserves | 133 | €136,215 | €146,629 | +€10,414 | +7.6% |
| Amounts payable | 17/49 | €394,923 | €334,248 | -€60,675 | -15.4% |
| Amounts payable after more than one year | 17 | €211,329 | €156,935 | -€54,393 | -25.7% |
| Financial debts | 170/4 | €211,329 | €156,935 | -€54,393 | -25.7% |
| Amounts payable within one year | 42/48 | €175,584 | €169,162 | -€6,422 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €53,615 | €54,393 | +€778 | +1.5% |
| Trade debts | 44 | €61,368 | €52,804 | -€8,564 | -14.0% |
| Suppliers | 440/4 | €61,368 | €52,804 | -€8,564 | -14.0% |
| Taxes, remuneration and social security | 45 | €36,601 | €33,965 | -€2,636 | -7.2% |
| Taxes | 450/3 | €16,673 | €12,050 | -€4,623 | -27.7% |
| Remuneration and social security | 454/9 | €19,928 | €21,916 | +€1,988 | +10.0% |
| Other amounts payable | 47/48 | €24,000 | €28,000 | +€4,000 | +16.7% |
| Accrued charges and deferred income | 492/3 | €8,011 | €8,151 | +€140 | +1.7% |
| Non-recurring operating income | 76A | - | €3,359 | +€3,359 | |
| Remuneration, social security and pensions | 62 | €106,599 | €114,117 | +€7,518 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,957 | €21,618 | -€38,338 | -63.9% |
| Other operating charges | 640/8 | €7,956 | €7,398 | -€559 | -7.0% |
| Gross operating margin | 9900 | €203,229 | €186,426 | -€16,803 | -8.3% |
| Operating profit (loss) | 9901 | €28,717 | €43,293 | +€14,577 | +50.8% |
| Financial income | 75/76B | €11,081 | €9,957 | -€1,124 | -10.1% |
| Recurring financial income | 75 | €11,081 | €9,957 | -€1,124 | -10.1% |
| Financial charges | 65/66B | €6,089 | €6,103 | +€14 | +0.2% |
| Recurring financial charges | 65 | €6,089 | €6,103 | +€14 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €33,709 | €47,147 | +€13,438 | +39.9% |
| Income taxes | 67/77 | €9,347 | €8,734 | -€613 | -6.6% |
| Profit (loss) for the period | 9904 | €24,363 | €38,414 | +€14,051 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,363 | €38,414 | +€14,051 | +57.7% |
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.