VVM Pharma Invest: what changed
What changed
VVM Pharma Invest
NACE 47.730, Retail sale of pharmaceutical products
filed annual accounts (NBB)
Net result for the year
€209,582
2025 · €159,987+€49,595
Equity
€745,240
2025 · €731,658+€13,582
Cash
€47,256
2025 · €42,697+€4,560
Balance sheet total
€1.7m
2025 · €1.7m-€32,019
Largest movements
Assets
- Tangible fixed assets -€34,375
down €34,375 (-4.8%), from €711,327 to €676,952
of which Furniture and vehicles: -€17,981
Equity and liabilities
- Debts after one year -€81,123
down €81,123 (-10.2%), from €795,057 to €713,933
- Other debts +€40,012
up €40,012 (+129%), from €31,035 to €71,047
Income statement
- Financial income +€50,296
up €50,296 (+50.3%), from €100,000 to €150,296
- Taxes +€6,704
up €6,704 (+18.7%), from €35,754 to €42,458
- Gross operating margin +€5,207
up €5,207 (+3.0%), from €175,316 to €180,523
- Depreciation +€2,014
up €2,014 (+3.6%), from €56,539 to €58,553
- Other operating charges -€1,906
down €1,906 (-34.5%), from €5,532 to €3,626
Change in the result, 2025 to 2026
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 2025
€159,987
Gross operating margin
+€5,207
Depreciation
-€2,014
Other operating charges
+€1,906
Financial income
+€50,296
Financial charges
+€903
Taxes
-€6,704
Result 2026
€209,582
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€299,749
Investment
-€24,178
Financing
-€271,011
Cash 2025
€42,697
From operations (derived)
+€299,749
Net result for the year
+€209,582
Depreciation
+€58,553
Smaller working-capital items
+€73
Deferred charges and accrued income
+€2,552
Trade debts
-€12,713
Tax, wage and social debts
+€1,689
Other debts
+€40,012
Investment (derived)
-€24,178
Investment in fixed assets (net)
-€24,178
Financing
-€271,011
Debts after one year
-€81,123
Current portion of long-term debt
+€6,440
Short-term financial debts
-€328
Contributions, distributions and other
-€196,000
Cash 2026
€47,256
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,693,086 | €1,661,068 | -€32,019 | -1.9% |
| Fixed assets | 21/28 | €1,643,246 | €1,608,870 | -€34,375 | -2.1% |
| Tangible fixed assets | 22/27 | €711,327 | €676,952 | -€34,375 | -4.8% |
| Land and buildings | 22 | €610,205 | €600,575 | -€9,630 | -1.6% |
| Plant, machinery and equipment | 23 | €2,050 | €1,409 | -€641 | -31.3% |
| Furniture and vehicles | 24 | €54,683 | €36,702 | -€17,981 | -32.9% |
| Other tangible fixed assets | 26 | €44,388 | €38,266 | -€6,122 | -13.8% |
| Financial fixed assets | 28 | €931,919 | €931,919 | = | 0.0% |
| Current assets | 29/58 | €49,841 | €52,197 | +€2,357 | +4.7% |
| Amounts receivable within one year | 40/41 | €4,355 | €4,705 | +€349 | +8.0% |
| Trade receivables | 40 | €4,060 | €3,426 | -€634 | -15.6% |
| Other amounts receivable | 41 | €295 | €1,279 | +€984 | +333% |
| Cash at bank and in hand | 54/58 | €42,697 | €47,256 | +€4,560 | +10.7% |
| Deferred charges and accrued income | 490/1 | €2,789 | €236 | -€2,552 | -91.5% |
| Total equity and liabilities | 10/49 | €1,693,086 | €1,661,068 | -€32,019 | -1.9% |
| Equity | 10/15 | €731,658 | €745,240 | +€13,582 | +1.9% |
| Contributions | 10/11 | €18,606 | €18,606 | = | 0.0% |
| Contributions outside capital | 11 | €18,606 | - | -€18,606 | |
| Other | 1109/19 | €18,606 | - | -€18,606 | |
| Reserves | 13 | €713,052 | €726,634 | +€13,582 | +1.9% |
| Non-distributable reserves | 130/1 | €1,861 | €1,861 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,861 | €1,861 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €0 | = | 0.0% |
| Distributable reserves | 133 | €711,191 | €724,773 | +€13,582 | +1.9% |
| Amounts payable | 17/49 | €961,428 | €915,828 | -€45,601 | -4.7% |
| Amounts payable after more than one year | 17 | €795,057 | €713,933 | -€81,123 | -10.2% |
| Financial debts | 170/4 | €795,057 | €713,933 | -€81,123 | -10.2% |
| Amounts payable within one year | 42/48 | €163,656 | €198,756 | +€35,100 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €106,567 | €113,007 | +€6,440 | +6.0% |
| Financial debts | 43 | €387 | €59 | -€328 | -84.8% |
| Credit institutions | 430/8 | €387 | €59 | -€328 | -84.8% |
| Trade debts | 44 | €14,901 | €2,188 | -€12,713 | -85.3% |
| Suppliers | 440/4 | €14,901 | €2,188 | -€12,713 | -85.3% |
| Taxes, remuneration and social security | 45 | €10,767 | €12,455 | +€1,689 | +15.7% |
| Taxes | 450/3 | €10,767 | €12,455 | +€1,689 | +15.7% |
| Other amounts payable | 47/48 | €31,035 | €71,047 | +€40,012 | +129% |
| Accrued charges and deferred income | 492/3 | €2,715 | €3,138 | +€423 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,539 | €58,553 | +€2,014 | +3.6% |
| Other operating charges | 640/8 | €5,532 | €3,626 | -€1,906 | -34.5% |
| Gross operating margin | 9900 | €175,316 | €180,523 | +€5,207 | +3.0% |
| Operating profit (loss) | 9901 | €113,245 | €118,344 | +€5,100 | +4.5% |
| Financial income | 75/76B | €100,000 | €150,296 | +€50,296 | +50.3% |
| Recurring financial income | 75 | €100,000 | €150,296 | +€50,296 | +50.3% |
| Financial charges | 65/66B | €17,504 | €16,600 | -€903 | -5.2% |
| Recurring financial charges | 65 | €17,504 | €16,600 | -€903 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €195,741 | €252,040 | +€56,299 | +28.8% |
| Income taxes | 67/77 | €35,754 | €42,458 | +€6,704 | +18.7% |
| Profit (loss) for the period | 9904 | €159,987 | €209,582 | +€49,595 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €159,987 | €209,582 | +€49,595 | +31.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.