PHARMA MANAGEMENT: 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.
PHARMA MANAGEMENT
Largest movements
- Current investments -€254,674
down €254,674 (-100.0%), from €254,678 to €4
- Receivables within one year -€38,238
down €38,238 (-21.4%), from €179,013 to €140,775
of which Other amounts receivable: -€31,369
- Tangible fixed assets -€36,437
down €36,437 (-8.4%), from €431,356 to €394,919
of which Furniture and vehicles: -€19,429
- Other debts +€1.2m
up €1.2m (+319%), from €387,716 to €1.6m
- Debts after one year -€1.0m
down €1.0m (-78.4%), from €1.3m to €283,482
- Reserves -€534,221
down €534,221 (-32.4%), from €1.7m to €1.1m
of which Distributable reserves: -€534,221
- Tax, wage and social debts -€35,548
down €35,548 (-59.7%), from €59,559 to €24,011
of which Taxes: -€26,125
- Financial income +€397,439
up €397,439 (+14,021%), from €2,835 to €400,273
- Gross operating margin -€223,801
down €223,801 (-55.0%), from €407,008 to €183,207
- Taxes -€40,539
down €40,539 (-46.0%), from €88,136 to €47,597
- Staff costs +€32,304
up €32,304 (+40.1%), from €80,504 to €112,808
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 | €3,536,819 | €3,176,889 | -€359,929 | -10.2% |
| Fixed assets | 21/28 | €3,027,681 | €2,991,244 | -€36,437 | -1.2% |
| Tangible fixed assets | 22/27 | €431,356 | €394,919 | -€36,437 | -8.4% |
| Land and buildings | 22 | €373,341 | €356,812 | -€16,528 | -4.4% |
| Plant, machinery and equipment | 23 | €950 | €470 | -€479 | -50.5% |
| Furniture and vehicles | 24 | €57,066 | €37,637 | -€19,429 | -34.0% |
| Financial fixed assets | 28 | €2,596,324 | €2,596,324 | = | 0.0% |
| Current assets | 29/58 | €509,138 | €185,646 | -€323,492 | -63.5% |
| Amounts receivable within one year | 40/41 | €179,013 | €140,775 | -€38,238 | -21.4% |
| Trade receivables | 40 | €13,151 | €6,283 | -€6,869 | -52.2% |
| Other amounts receivable | 41 | €165,862 | €134,492 | -€31,369 | -18.9% |
| Current investments | 50/53 | €254,678 | €4 | -€254,674 | -100.0% |
| Cash at bank and in hand | 54/58 | €68,666 | €36,135 | -€32,531 | -47.4% |
| Deferred charges and accrued income | 490/1 | €6,781 | €8,732 | +€1,951 | +28.8% |
| Total equity and liabilities | 10/49 | €3,536,819 | €3,176,889 | -€359,929 | -10.2% |
| Equity | 10/15 | €1,712,229 | €1,178,008 | -€534,221 | -31.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,650,229 | €1,116,008 | -€534,221 | -32.4% |
| Non-distributable reserves | 130/1 | €102,500 | €102,500 | = | 0.0% |
| Legal reserve | 130 | €102,500 | €102,500 | = | 0.0% |
| Distributable reserves | 133 | €1,547,729 | €1,013,508 | -€534,221 | -34.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,824,590 | €1,998,881 | +€174,292 | +9.6% |
| Amounts payable after more than one year | 17 | €1,312,019 | €283,482 | -€1.0m | -78.4% |
| Financial debts | 170/4 | €1,312,019 | €283,482 | -€1.0m | -78.4% |
| Amounts payable within one year | 42/48 | €512,142 | €1,713,626 | +€1.2m | +235% |
| Current portion of amounts payable after more than one year | 42 | €62,590 | €63,537 | +€947 | +1.5% |
| Trade debts | 44 | €2,277 | €1,938 | -€339 | -14.9% |
| Suppliers | 440/4 | €2,277 | €1,938 | -€339 | -14.9% |
| Taxes, remuneration and social security | 45 | €59,559 | €24,011 | -€35,548 | -59.7% |
| Taxes | 450/3 | €36,706 | €10,582 | -€26,125 | -71.2% |
| Remuneration and social security | 454/9 | €22,852 | €13,430 | -€9,423 | -41.2% |
| Other amounts payable | 47/48 | €387,716 | €1,624,140 | +€1.2m | +319% |
| Accrued charges and deferred income | 492/3 | €429 | €1,773 | +€1,344 | +313% |
| Remuneration, social security and pensions | 62 | €80,504 | €112,808 | +€32,304 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,437 | €36,437 | = | 0.0% |
| Other operating charges | 640/8 | €2,388 | €2,469 | +€82 | +3.4% |
| Gross operating margin | 9900 | €407,008 | €183,207 | -€223,801 | -55.0% |
| Operating profit (loss) | 9901 | €287,680 | €31,493 | -€256,187 | -89.1% |
| Financial income | 75/76B | €2,835 | €400,273 | +€397,439 | +14,021% |
| Recurring financial income | 75 | €2,835 | €400,273 | +€397,439 | +14,021% |
| Financial charges | 65/66B | €8,549 | €7,397 | -€1,152 | -13.5% |
| Recurring financial charges | 65 | €8,549 | €7,397 | -€1,152 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €281,965 | €424,369 | +€142,404 | +50.5% |
| Income taxes | 67/77 | €88,136 | €47,597 | -€40,539 | -46.0% |
| Profit (loss) for the period | 9904 | €193,829 | €376,772 | +€182,943 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | €193,829 | €376,772 | +€182,943 | +94.4% |
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 15 October 2026 via checked.be.