HELLO PHARMA
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 24 days after the deadline Filed on 24 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00416378.
Annual accounts 2025 filed on 24-08-2026 at the NBB all 8 filings
Turnover
≈ €440,000
Estimated: probably between €290,000 and €680,000
Total assets
€302,014▲ 21.4%
2024 · €248,786
Net result
€101,939▲ 354%
2024 · €22,429
Working capital
€170,543▲ 40.3%
2024 · €121,530
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€148,957
▲ 325%
2025
20182025
Net result
€101,939
▲ 354%
2025
highest quarter of the sector
20182025
Equity
€215,008
▲ 21.9%
2025
middle half of the sector
20182025
Total assets
€302,014
▲ 21.4%
2025
middle half of the sector
20182025
Debt
€87,006
▲ 20.1%
2025
20182025
Working capital
€170,543
▲ 40.3%
2025
middle half of the sector
20182025
Solvency
71.2%
▲ 0.3pp
2025
middle half of the sector
20182025
Current ratio
3.39
▼ 0.46
2025
middle half of the sector
20182025
Return on assets (ROA)
33.8%
▲ 24.7pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€21,723-€38,807▲ 78.6%€75,146▲ 93.6%€56,273▼ 25.1%€54,388▼ 3.4%€43,519▼ 20.0%€35,008▼ 19.6%€148,957▲ 325%
Net result€14,197-€26,028▲ 83.3%€57,365within the sector's middle half▲ 120%€37,262within the sector's middle half▼ 35.0%€42,637within the sector's middle half▲ 14.4%€28,623within the sector's middle half▼ 32.9%€22,429within the sector's middle half▼ 21.6%€101,939above the sector's middle half▲ 354%
Equity€20,397-€46,425▲ 128%€103,790within the sector's middle half▲ 124%€96,087within the sector's middle half▼ 7.4%€138,724within the sector's middle half▲ 44.4%€167,346within the sector's middle half▲ 20.6%€176,359within the sector's middle half▲ 5.4%€215,008within the sector's middle half▲ 21.9%
Total assets€127,491-€122,748▼ 3.7%€155,661within the sector's middle half▲ 26.8%€164,954within the sector's middle half▲ 6.0%€269,056within the sector's middle half▲ 63.1%€266,213within the sector's middle half▼ 1.1%€248,786within the sector's middle half▼ 6.5%€302,014within the sector's middle half▲ 21.4%
Debt€107,094-€76,323▼ 28.7%€51,872▼ 32.0%€68,867▲ 32.8%€130,333▲ 89.3%€98,867▼ 24.1%€72,426▼ 26.7%€87,006▲ 20.1%
Working capital€8,695-€17,008▲ 95.6%€64,996within the sector's middle half▲ 282%€61,382within the sector's middle half▼ 5.6%€91,108within the sector's middle half▲ 48.4%€101,572within the sector's middle half▲ 11.5%€121,530within the sector's middle half▲ 19.6%€170,543within the sector's middle half▲ 40.3%
Solvency16.0%-37.8%▲ 21.8pp66.7%within the sector's middle half▲ 28.9pp58.3%within the sector's middle half▼ 8.4pp51.6%within the sector's middle half▼ 6.7pp62.9%within the sector's middle half▲ 11.3pp70.9%within the sector's middle half▲ 8.0pp71.2%within the sector's middle half▲ 0.3pp
Current ratio1.15-1.39▲ 0.252.91within the sector's middle half▲ 1.521.99within the sector's middle half▼ 0.931.86within the sector's middle half▼ 0.132.91within the sector's middle half▲ 1.053.85within the sector's middle half▲ 0.943.39within the sector's middle half▼ 0.46
Return on assets (ROA)11.1%-21.2%▲ 10.1pp36.9%above the sector's middle half▲ 15.6pp22.6%within the sector's middle half▼ 14.3pp15.8%within the sector's middle half▼ 6.7pp10.8%within the sector's middle half▼ 5.1pp9.0%within the sector's middle half▼ 1.7pp33.8%above the sector's middle half▲ 24.7pp
above
within
below
The sector band is the middle half of the companies in Scientific research and development (NACE 72). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 4.3 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €302,014
Fixed assets
€59,982 ▼ 29.1%
Current assets
€242,032 ▲ 47.4%
Equity and liabilities €302,014
Equity
€215,008 ▲ 21.9%
Debt
€87,006 ▲ 20.1%
Debt's share of the balance-sheet total falls from 29.1% to 28.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€174,978▲
2024 · €61,956
Cash flow
€127,959▲
2024 · €49,377
Debt to equity
0.40▼
2024 · 0.41
ROE
47.4%▲
2024 · 12.7%
Interest coverage
83.73▲
2024 · 32.33
Debt ≤ 1 year
€71,489▲
2024 · €42,640
Debt > 1 year
€14,928▼
2024 · €29,787
Income taxes
€45,854▲
2024 · €12,113
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,452 | €53,632 | €59,341 | - | €1,460 |
| Depreciation and write-downs of the year | €18,657 | €17,097 | €19,033 | €26,948 | €26,020 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €9,261 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,715 | €17,278 | €18,155 | €18,657 | €17,097 | €19,033 | €26,948 | €26,020 | ▼ 3.4% |
| Other operating charges640/8 | - | - | - | €568 | €568 | €424 | €3,560 | €692 | ▼ 80.6% |
| Gross operating margin9900 | €36,438 | €56,306 | €93,521 | €75,498 | €72,052 | €62,975 | €65,516 | €175,670 | ▲ 168% |
| Operating profit (loss)9901 | €21,723 | €38,807 | €75,146 | €56,273 | €54,388 | €43,519 | €35,008 | €148,957 | ▲ 325% |
| Financial income75/76B | - | - | - | €10 | €8,996 | €1,146 | €1,451 | €926 | ▼ 36.2% |
| Recurring financial income75 | - | €6 | €599 | €10 | €574 | €1,146 | €1,451 | €926 | ▼ 36.2% |
| Non-recurring financial income76B | - | - | - | - | €8,422 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €616 | €645 | €1,254 | €1,916 | €2,090 | ▲ 9.1% |
| Recurring financial charges65 | €452 | €748 | €504 | €616 | €645 | €1,254 | €1,916 | €2,090 | ▲ 9.1% |
| Profit (loss) for the period before taxes9903 | €21,270 | €38,065 | €75,240 | €55,667 | €62,739 | €43,411 | €34,543 | €147,793 | ▲ 328% |
| Income taxes67/77 | €7,073 | €12,038 | €17,875 | €18,405 | €20,102 | €14,788 | €12,113 | €45,854 | ▲ 279% |
| Profit (loss) for the period9904 | €14,197 | €26,028 | €57,365 | €37,262 | €42,637 | €28,623 | €22,429 | €101,939 | ▲ 354% |
| Profit (loss) for the period to be appropriated9905 | €14,197 | €26,028 | €57,365 | €37,262 | €42,637 | €28,623 | €22,429 | €101,939 | ▲ 354% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €127,491 | €122,748 | €155,661 | €164,954 | €269,056 | €266,213 | €248,786 | €302,014 | ▲ 21.4% |
| Formation expenses20 | €98 | €0 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €59,901 | €62,591 | €56,705 | €41,500 | €71,995 | €111,564 | €84,616 | €59,982 | ▼ 29.1% |
| Tangible fixed assets22/27 | €59,901 | €62,591 | €56,705 | €41,500 | €71,995 | €111,564 | €84,616 | €59,982 | ▼ 29.1% |
| Furniture and vehicles24 | - | - | - | €23,779 | €56,662 | €98,618 | €74,058 | €51,812 | ▼ 30.0% |
| Other tangible fixed assets26 | - | - | - | €17,721 | €15,333 | €12,945 | €10,558 | €8,170 | ▼ 22.6% |
| Current assets29/58 | €67,493 | €60,157 | €98,956 | €123,453 | €197,061 | €154,650 | €164,170 | €242,032 | ▲ 47.4% |
| Amounts receivable within one year40/41 | €28,524 | €36,281 | €43,941 | €11,404 | €60,670 | €71,500 | €58,094 | €65,283 | ▲ 12.4% |
| Trade receivables40 | - | - | - | €5,942 | €44,396 | €49,347 | €37,149 | €64,283 | ▲ 73.0% |
| Other amounts receivable41 | - | - | - | €5,462 | €16,274 | €22,153 | €20,944 | €1,000 | ▼ 95.2% |
| Cash at bank and in hand54/58 | €33,730 | €10,435 | €43,572 | €104,725 | €127,314 | €75,637 | €96,850 | €167,143 | ▲ 72.6% |
| Deferred charges and accrued income490/1 | - | - | - | €7,324 | €9,078 | €7,513 | €9,227 | €9,606 | ▲ 4.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €127,491 | €122,748 | €155,661 | €164,954 | €269,056 | €266,213 | €248,786 | €302,014 | ▲ 21.4% |
| Equity10/15 | €20,397 | €46,425 | €103,790 | €96,087 | €138,724 | €167,346 | €176,359 | €215,008 | ▲ 21.9% |
| Contributions10/11 | €6,200 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €14,197 | €40,225 | €40,225 | €77,487 | €120,124 | €148,746 | €157,759 | €196,408 | ▲ 24.5% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €77,487 | €120,124 | €148,746 | €157,759 | €196,408 | ▲ 24.5% |
| Profit (loss) carried forward14 | €0 | - | €57,365 | €0 | €0 | - | €0 | €0 | - |
| Amounts payable17/49 | €107,094 | €76,323 | €51,872 | €68,867 | €130,333 | €98,867 | €72,426 | €87,006 | ▲ 20.1% |
| Amounts payable after more than one year17 | €48,297 | €33,175 | €17,912 | €6,795 | €24,379 | €45,789 | €29,787 | €14,928 | ▼ 49.9% |
| Financial debts170/4 | - | - | - | €6,795 | €24,379 | €45,789 | €29,787 | €14,928 | ▼ 49.9% |
| Amounts payable within one year42/48 | €58,798 | €43,148 | €33,960 | €62,072 | €105,953 | €53,078 | €42,640 | €71,489 | ▲ 67.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,117 | €15,314 | €16,777 | €16,636 | €14,858 | ▼ 10.7% |
| Trade debts44 | €1,584 | €4,235 | €533 | €4,288 | €40,654 | €7,954 | €9,331 | €21,325 | ▲ 129% |
| Suppliers440/4 | - | - | - | €4,288 | €40,654 | €7,954 | €9,331 | €21,325 | ▲ 129% |
| Taxes, remuneration and social security45 | - | - | - | €45,939 | €49,986 | €28,348 | €16,673 | €14,592 | ▼ 12.5% |
| Taxes450/3 | - | - | - | €45,939 | €49,986 | €28,348 | €16,673 | €14,592 | ▼ 12.5% |
| Other amounts payable47/48 | - | - | - | €728 | €0 | - | - | €20,713 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €589 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,197 | €26,028 | €57,365 | €37,262 | €42,637 | €28,623 | €22,429 | €101,939 | ▲ 354% |
| + Depreciation and write-downs630 | €14,715 | €17,278 | €18,155 | €18,657 | €17,097 | €19,033 | €26,948 | €26,020 | ▼ 3.4% |
| Operating cash flow (approximation) | €28,912 | €43,306 | €75,520 | €55,919 | €59,734 | €47,655 | €49,377 | €127,959 | ▲ 159% |
| Investment in fixed assets (approximation) | - | -€19,969 | -€12,269 | -€3,452 | -€47,591 | -€58,601 | €0 | -€1,387 | - |
| Change in cash | - | -€23,295 | €33,137 | €61,153 | €22,589 | -€51,677 | €21,213 | €70,293 | ▲ 231% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as HELLO PHARMA has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of HELLO PHARMA itself is lower: < 0.1% within 12 months. It rests on far more data about HELLO PHARMA than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for HELLO PHARMA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-08-2026 | 2026-00416378 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00301704 | |
| 31-12-2023 | micro format | 25-07-2024 | 2024-00282138 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00374849 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20331723 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-61900107 | |
| 31-12-2019 | micro format | 24-08-2020 | 2020-45100218 | |
| 31-12-2018 | micro format | 23-08-2019 | 2019-50200040 |