M-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.
M-Pharma
Largest movements
- Receivables within one year -€10,491
down €10,491 (-81.1%), from €12,935 to €2,445
of which Other amounts receivable: -€8,405
- Cash +€2,382
up €2,382 (+212%), from €1,122 to €3,503
mainly Other debts (+€120,514) and Receivables within one year (+€10,491)
- Stocks and contracts -€1,822
no longer reported in 2025 (was €1,822)
- Other debts +€120,514
up €120,514 (+99.3%), from €121,316 to €241,830
- Trade debts -€62,557
down €62,557 (-97.0%), from €64,500 to €1,943
- Tax, wage and social debts -€61,750
no longer reported in 2025 (was €61,750)
of which Remuneration and social security: -€61,726
- Profit (loss) carried forward -€11,138
down €11,138 (-1.1%), from -€1.0m to -€1.0m
- Provisions +€5,000
new in 2025: €5,000
- Purchases and services -€411,412
no longer reported in 2025 (was €411,412)
- Turnover -€257,939
no longer reported in 2025 (was €257,939)
- Gross operating margin +€136,889
up €136,889 (+96.4%), from -€141,987 to -€5,098
- Staff costs -€127,060
down €127,060 (-99.6%), from €127,617 to €557
- Financial income -€5,063
down €5,063 (-99.9%), from €5,069 to €6
From the 31-12-2024 result to the 28-12-2025 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 31-12-2024 and 28-12-2025 balance sheets and the 28-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 28-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,879 | €5,948 | -€9,931 | -62.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €15,879 | €5,948 | -€9,931 | -62.5% |
| Stocks and contracts in progress | 3 | €1,822 | - | -€1,822 | |
| Stocks | 30/36 | €1,822 | - | -€1,822 | |
| Amounts receivable within one year | 40/41 | €12,935 | €2,445 | -€10,491 | -81.1% |
| Trade receivables | 40 | €2,085 | - | -€2,085 | |
| Other amounts receivable | 41 | €10,850 | €2,445 | -€8,405 | -77.5% |
| Cash at bank and in hand | 54/58 | €1,122 | €3,503 | +€2,382 | +212% |
| Total equity and liabilities | 10/49 | €15,879 | €5,948 | -€9,931 | -62.5% |
| Equity | 10/15 | -€231,686 | -€242,824 | -€11,138 | -4.8% |
| Contributions | 10/11 | €768,600 | €768,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,000,286 | -€1,011,424 | -€11,138 | -1.1% |
| Provisions and deferred taxes | 16 | - | €5,000 | +€5,000 | |
| Provisions for liabilities and charges | 160/5 | - | €5,000 | +€5,000 | |
| Other liabilities and charges | 164/5 | - | €5,000 | +€5,000 | |
| Amounts payable | 17/49 | €247,565 | €243,772 | -€3,793 | -1.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €247,565 | €243,772 | -€3,793 | -1.5% |
| Trade debts | 44 | €64,500 | €1,943 | -€62,557 | -97.0% |
| Suppliers | 440/4 | €64,500 | €1,943 | -€62,557 | -97.0% |
| Taxes, remuneration and social security | 45 | €61,750 | - | -€61,750 | |
| Taxes | 450/3 | €24 | - | -€24 | |
| Remuneration and social security | 454/9 | €61,726 | - | -€61,726 | |
| Other amounts payable | 47/48 | €121,316 | €241,830 | +€120,514 | +99.3% |
| Turnover | 70 | €257,939 | - | -€257,939 | |
| Goods, raw materials, services and sundry goods | 60/61 | €411,412 | - | -€411,412 | |
| Remuneration, social security and pensions | 62 | €127,617 | €557 | -€127,060 | -99.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €334 | - | -€334 | |
| Gross operating margin | 9900 | -€141,987 | -€5,098 | +€136,889 | +96.4% |
| Operating profit (loss) | 9901 | -€269,938 | -€10,655 | +€259,283 | +96.1% |
| Financial income | 75/76B | €5,069 | €6 | -€5,063 | -99.9% |
| Recurring financial income | 75 | €5,069 | €6 | -€5,063 | -99.9% |
| Financial charges | 65/66B | -€251 | €490 | +€741 | |
| Recurring financial charges | 65 | -€251 | €490 | +€741 | |
| Profit (loss) for the period before taxes | 9903 | -€264,618 | -€11,138 | +€253,480 | +95.8% |
| Profit (loss) for the period | 9904 | -€264,618 | -€11,138 | +€253,480 | +95.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€264,618 | -€11,138 | +€253,480 | +95.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 28 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.