WEST 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.
WEST PHARMA
Largest movements
- Tangible fixed assets +€152,200
up €152,200 (+164%), from €93,035 to €245,235
of which Furniture and vehicles: +€160,065
- Receivables within one year +€88,344
up €88,344 (+84.5%), from €104,570 to €192,914
of which Trade receivables: +€89,281
- Stocks and contracts -€29,483
down €29,483 (-13.7%), from €215,258 to €185,774
- Cash -€11,425
down €11,425 (-12.8%), from €89,151 to €77,725
mainly Investment in fixed assets (net) (-€175,002) and Receivables within one year (-€88,344)
- Debts after one year +€113,540
up €113,540 (+2,451%), from €4,632 to €118,172
- Trade debts +€74,974
up €74,974 (+81.6%), from €91,925 to €166,899
- Reserves +€51,399
up €51,399 (+24.0%), from €214,178 to €265,577
of which Distributable reserves: +€51,399
- Other debts -€48,919
down €48,919 (-42.1%), from €116,320 to €67,401
- Current portion of long-term debt +€7,018
up €7,018 (+25.6%), from €27,441 to €34,459
- Gross operating margin +€65,008
up €65,008 (+52.1%), from €124,686 to €189,693
- Depreciation +€12,334
up €12,334 (+118%), from €10,468 to €22,802
- Taxes +€10,625
up €10,625 (+222%), from €4,784 to €15,409
- Financial charges +€3,103
up €3,103 (+49.7%), from €6,239 to €9,342
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 | €502,013 | €701,649 | +€199,636 | +39.8% |
| Fixed assets | 21/28 | €93,035 | €245,235 | +€152,200 | +164% |
| Tangible fixed assets | 22/27 | €93,035 | €245,235 | +€152,200 | +164% |
| Plant, machinery and equipment | 23 | - | €732 | +€732 | |
| Furniture and vehicles | 24 | - | €160,065 | +€160,065 | |
| Other tangible fixed assets | 26 | €93,035 | €84,438 | -€8,597 | -9.2% |
| Current assets | 29/58 | €408,978 | €456,414 | +€47,435 | +11.6% |
| Stocks and contracts in progress | 3 | €215,258 | €185,774 | -€29,483 | -13.7% |
| Stocks | 30/36 | €215,258 | €185,774 | -€29,483 | -13.7% |
| Amounts receivable within one year | 40/41 | €104,570 | €192,914 | +€88,344 | +84.5% |
| Trade receivables | 40 | €99,917 | €189,197 | +€89,281 | +89.4% |
| Other amounts receivable | 41 | €4,653 | €3,717 | -€937 | -20.1% |
| Cash at bank and in hand | 54/58 | €89,151 | €77,725 | -€11,425 | -12.8% |
| Total equity and liabilities | 10/49 | €502,013 | €701,649 | +€199,636 | +39.8% |
| Equity | 10/15 | €232,778 | €284,177 | +€51,399 | +22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €214,178 | €265,577 | +€51,399 | +24.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €212,318 | €263,717 | +€51,399 | +24.2% |
| Amounts payable | 17/49 | €269,235 | €417,472 | +€148,237 | +55.1% |
| Amounts payable after more than one year | 17 | €4,632 | €118,172 | +€113,540 | +2,451% |
| Financial debts | 170/4 | €4,632 | €118,172 | +€113,540 | +2,451% |
| Amounts payable within one year | 42/48 | €264,603 | €299,300 | +€34,697 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €27,441 | €34,459 | +€7,018 | +25.6% |
| Trade debts | 44 | €91,925 | €166,899 | +€74,974 | +81.6% |
| Suppliers | 440/4 | €91,925 | €166,899 | +€74,974 | +81.6% |
| Taxes, remuneration and social security | 45 | €28,917 | €30,541 | +€1,624 | +5.6% |
| Taxes | 450/3 | €12,175 | €13,210 | +€1,035 | +8.5% |
| Remuneration and social security | 454/9 | €16,741 | €17,330 | +€589 | +3.5% |
| Other amounts payable | 47/48 | €116,320 | €67,401 | -€48,919 | -42.1% |
| Remuneration, social security and pensions | 62 | €87,947 | €89,747 | +€1,800 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,468 | €22,802 | +€12,334 | +118% |
| Other operating charges | 640/8 | €853 | €994 | +€141 | +16.6% |
| Gross operating margin | 9900 | €124,686 | €189,693 | +€65,008 | +52.1% |
| Operating profit (loss) | 9901 | €25,418 | €76,150 | +€50,732 | +200% |
| Financial charges | 65/66B | €6,239 | €9,342 | +€3,103 | +49.7% |
| Recurring financial charges | 65 | €6,239 | €9,342 | +€3,103 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €19,179 | €66,808 | +€47,629 | +248% |
| Income taxes | 67/77 | €4,784 | €15,409 | +€10,625 | +222% |
| Profit (loss) for the period | 9904 | €14,395 | €51,399 | +€37,004 | +257% |
| Profit (loss) for the period to be appropriated | 9905 | €14,395 | €51,399 | +€37,004 | +257% |
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 23 October 2026 via checked.be.