BOFAR: 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.
What changed
BOFAR
NACE 46.460, Wholesale of pharmaceutical and medical goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €2.6m-€522,729
Equity
€4.2m
2024 · €1.8m+€2.5m
Cash
€661,171
2024 · €344,891+€316,280
Balance sheet total
€12.2m
2024 · €6.8m+€5.4m
Largest movements
Assets
- Receivables within one year +€3.1m
up €3.1m (+62.2%), from €5.0m to €8.0m
of which Other amounts receivable: +€2.5m
- Stocks and contracts +€1.7m
up €1.7m (+157%), from €1.1m to €2.9m
- Cash +€316,280
up €316,280 (+91.7%), from €344,891 to €661,171
mainly Accrued charges and deferred income (+€3.3m) and Net result for the year (+€2.1m)
- Deferred charges and accrued income +€142,942
new in 2025: €142,942
Equity and liabilities
- Accrued charges and deferred income +€3.3m
new in 2025: €3.3m
- Profit (loss) carried forward +€2.1m
up €2.1m (+123%), from €1.7m to €3.8m
- Reserves +€345,088
up €345,088 (+5,566%), from €6,200 to €351,288
of which Distributable reserves: +€345,088
- Short-term financial debts +€250,000
new in 2025: €250,000
- Trade debts -€217,088
down €217,088 (-7.4%), from €2.9m to €2.7m
Income statement
- Goods and materials +€3.2m
up €3.2m (+20.8%), from €15.6m to €18.8m
of which Purchases: +€4.0m
- Turnover +€2.0m
up €2.0m (+9.3%), from €21.9m to €23.9m
- Services and other goods -€404,430
down €404,430 (-18.3%), from €2.2m to €1.8m
- Write-downs -€387,791
down €387,791 (-79.0%), from €490,745 to €102,953
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.
Result 2024
€2.6m
Turnover
+€2.0m
Other operating income
+€12,349
Goods and materials
-€3.2m
Services and other goods
+€404,430
Staff costs
+€24,368
Depreciation
+€3,888
Write-downs
+€387,791
Other operating charges
+€41,450
Other operating items
-€276,228
Financial income
+€131,359
Financial charges
-€32,076
Taxes
-€21,736
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€69,316
Investment
-€129,278
Financing
+€514,874
Cash 2024
€344,891
From operations (derived)
-€69,316
Net result for the year
+€2.1m
Depreciation
+€62,245
Stocks and contracts
-€1.7m
Receivables within one year
-€3.1m
Deferred charges and accrued income
-€142,942
Trade debts
-€217,088
Tax, wage and social debts
-€191,071
Other debts
-€161,802
Accrued charges and deferred income
+€3.3m
Investment (derived)
-€129,278
Investment in fixed assets (net)
-€129,278
Financing
+€514,874
Debts after one year
-€71,212
Current portion of long-term debt
-€23,002
Short-term financial debts
+€250,000
Contributions, distributions and other
+€359,088
Cash 2025
€661,171
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,791,603 | €12,153,355 | +€5.4m | +78.9% |
| Fixed assets | 21/28 | €373,231 | €440,264 | +€67,033 | +18.0% |
| Intangible fixed assets | 21 | - | €108,315 | +€108,315 | |
| Tangible fixed assets | 22/27 | €371,330 | €330,048 | -€41,282 | -11.1% |
| Land and buildings | 22 | €332,119 | €300,325 | -€31,794 | -9.6% |
| Plant, machinery and equipment | 23 | €8,189 | €10,944 | +€2,755 | +33.6% |
| Furniture and vehicles | 24 | €31,022 | €18,779 | -€12,243 | -39.5% |
| Financial fixed assets | 28 | €1,901 | €1,901 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,901 | €1,901 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,901 | €1,901 | = | 0.0% |
| Current assets | 29/58 | €6,418,372 | €11,713,091 | +€5.3m | +82.5% |
| Stocks and contracts in progress | 3 | €1,110,575 | €2,859,567 | +€1.7m | +157% |
| Stocks | 30/36 | €1,110,575 | €2,859,567 | +€1.7m | +157% |
| Goods purchased for resale | 34 | €1,110,575 | €2,859,567 | +€1.7m | +157% |
| Amounts receivable within one year | 40/41 | €4,962,907 | €8,049,412 | +€3.1m | +62.2% |
| Trade receivables | 40 | €3,312,934 | €3,946,466 | +€633,532 | +19.1% |
| Other amounts receivable | 41 | €1,649,973 | €4,102,946 | +€2.5m | +149% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €344,891 | €661,171 | +€316,280 | +91.7% |
| Deferred charges and accrued income | 490/1 | - | €142,942 | +€142,942 | |
| Total equity and liabilities | 10/49 | €6,791,603 | €12,153,355 | +€5.4m | +78.9% |
| Equity | 10/15 | €1,770,335 | €4,226,018 | +€2.5m | +139% |
| Contributions | 10/11 | €62,000 | €76,000 | +€14,000 | +22.6% |
| Capital | 10 | €62,000 | €76,000 | +€14,000 | +22.6% |
| Issued capital | 100 | €62,000 | €76,000 | +€14,000 | +22.6% |
| Reserves | 13 | €6,200 | €351,288 | +€345,088 | +5,566% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | - | €345,088 | +€345,088 | |
| Profit (loss) carried forward | 14 | €1,702,135 | €3,798,730 | +€2.1m | +123% |
| Amounts payable | 17/49 | €5,021,269 | €7,927,337 | +€2.9m | +57.9% |
| Amounts payable after more than one year | 17 | €759,564 | €688,352 | -€71,212 | -9.4% |
| Financial debts | 170/4 | €759,564 | €688,352 | -€71,212 | -9.4% |
| Credit institutions | 173 | €759,564 | €688,352 | -€71,212 | -9.4% |
| Amounts payable within one year | 42/48 | €4,261,705 | €3,918,741 | -€342,964 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €320,948 | €297,946 | -€23,002 | -7.2% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €2,924,492 | €2,707,403 | -€217,088 | -7.4% |
| Suppliers | 440/4 | €2,924,492 | €2,707,403 | -€217,088 | -7.4% |
| Taxes, remuneration and social security | 45 | €836,265 | €645,194 | -€191,071 | -22.8% |
| Taxes | 450/3 | €761,076 | €538,105 | -€222,971 | -29.3% |
| Remuneration and social security | 454/9 | €75,189 | €107,089 | +€31,900 | +42.4% |
| Other amounts payable | 47/48 | €180,000 | €18,198 | -€161,802 | -89.9% |
| Accrued charges and deferred income | 492/3 | - | €3,320,244 | +€3.3m | |
| Operating income | 70/76A | €22,277,451 | €24,052,836 | +€1.8m | +8.0% |
| Turnover | 70 | €21,880,182 | €23,919,445 | +€2.0m | +9.3% |
| Own construction capitalised | 72 | - | €101,638 | +€101,638 | |
| Other operating income | 74 | €12,152 | €24,502 | +€12,349 | +102% |
| Non-recurring operating income | 76A | €385,117 | €7,251 | -€377,866 | -98.1% |
| Operating charges | 60/66A | €19,122,385 | €21,498,046 | +€2.4m | +12.4% |
| Goods for resale, raw materials and consumables | 60 | €15,593,127 | €18,830,716 | +€3.2m | +20.8% |
| Purchases | 600/8 | €16,357,052 | €20,313,494 | +€4.0m | +24.2% |
| Change in stocks: decrease (increase) | 609 | -€763,925 | -€1,482,779 | -€718,853 | -94.1% |
| Services and other goods | 61 | €2,209,931 | €1,805,502 | -€404,430 | -18.3% |
| Remuneration, social security and pensions | 62 | €715,861 | €691,493 | -€24,368 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,133 | €62,245 | -€3,888 | -5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €490,745 | €102,953 | -€387,791 | -79.0% |
| Other operating charges | 640/8 | €46,588 | €5,138 | -€41,450 | -89.0% |
| Operating profit (loss) | 9901 | €3,155,066 | €2,554,790 | -€600,277 | -19.0% |
| Financial income | 75/76B | €183,589 | €314,948 | +€131,359 | +71.6% |
| Recurring financial income | 75 | €183,589 | €314,948 | +€131,359 | +71.6% |
| Income from financial fixed assets | 750 | €1,358 | €0 | -€1,358 | -100% |
| Income from current assets | 751 | €4,641 | €162,665 | +€158,024 | +3,405% |
| Other financial income | 752/9 | €177,591 | €152,283 | -€25,308 | -14.3% |
| Financial charges | 65/66B | €34,168 | €66,244 | +€32,076 | +93.9% |
| Recurring financial charges | 65 | €34,168 | €66,244 | +€32,076 | +93.9% |
| Debt charges | 650 | €16,707 | €55,536 | +€38,829 | +232% |
| Other financial charges | 652/9 | €17,461 | €10,708 | -€6,753 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €3,304,488 | €2,803,494 | -€500,993 | -15.2% |
| Income taxes | 67/77 | €685,163 | €706,899 | +€21,736 | +3.2% |
| Taxes | 670/3 | €867,981 | €706,899 | -€161,082 | -18.6% |
| Tax adjustments and reversals of tax provisions | 77 | €182,818 | €0 | -€182,818 | -100% |
| Profit (loss) for the period | 9904 | €2,619,324 | €2,096,595 | -€522,729 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,619,324 | €2,096,595 | -€522,729 | -20.0% |
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 22 October 2026 via checked.be.