Hyloris Developments
ActiveFrom the official registers: KBO 12 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The annual accounts of Hyloris Developments for financial year 2025 show a net loss of 164% of the equity at the start of that year. The 2025 annual accounts show equity of €17.9m and a net result of -€5.3m. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 90% of 94 sector peers (NACE 21, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 05-12-2013 Normal situation
- Registered office
- 47 active companies are registered at this address 4 started in the 12 months before. Source: KBO register, as of 1 November 2026.
- Activity
- Manufacture of basic pharmaceutical products and pharmaceutical preparations NACE 21201and 1 other
- Establishment unit
- 2.250.704.460 4000 Liège, since 05-12-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2025
Board and ownership
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Turnover
- €5.1m
- Loss
- €5.3m
- ▼ 9.6%
- Equity
- €17.9m
- ▲ 457%
- Total assets
- €20.6m
- ▲ 104%
- Staff
- 12.2 FTE
- ▲ 11.9%
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €5.3m, the second in a row (financial year 2025)1 of the last 3 accounts latelowers riskFounded in 2013Equity €17.9m (87.1% of total assets)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 21, small). It does better than 90% of them on solvency, 75% on liquidity, 57% on profitability and 99% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 1 day before the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 12 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €5.5m, smaller than the loss of €6.0m in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
- 2025 Equity +457%, Total assets +104% on 2024. Capital increase of €20,000,000 (Official Gazette 25-02-2025).
- 2022 Equity +1,376%, Total assets +85% on 2021. Capital increase of €14,000,000 (Official Gazette 22-09-2022). Capital increase of €14,216,220 (Official Gazette 22-09-2022).
Comparable companies
These companies have the same main activity as Hyloris Developments: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21201). They are comparable in size and age: total assets between €3.7m and €71m, founded between 2002 and 2018.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| Hyloris Developments Liège | 2013 | €20.6m | €17.9m | €5.5m | €5.1m | -€5.3m | 12.2 | 2025 |
| CENTRALE AFDELING VOOR FRACTIONERING Brussel | 2015 | €19.7m | €18.7m | - | €11.2m | -€1.3m | 13.2 | 2025 |
| A.forall Development Anderlecht | 2010 | €71.3m | €37.6m | €5.5m | - | -€1.7m | 10.9 | 2025 |
| EPICS THERAPEUTICS Charleroi | 2018 | €14.7m | €9.1m | €4.2m | - | -€5.8m | 32.2 | 2025 |
| BETAPLUS PHARMA Sint-Lambrechts-Woluwe | 2002 | €24.9m | €22.3m | €2.7m | €5.4m | €1.3m | 11.3 | 2025 |
| PREVOR Liège | 2015 | €3.7m | €1.4m | - | €3.9m | €0.3m | 19 | 2025 |
| invoX Belgium Diepenbeek | 2016 | €29.2m | -€64.6m | €2.2m | - | -€21.0m | 45.5 | 2025 |
They were chosen from the 116 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 376 companies had the same profile as Hyloris Developments has now. Two years later, 0.8% had gone bankrupt and 91.8% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Hyloris Developments itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,445 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 376 companies, not a prediction for Hyloris Developments. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €5.1m | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €0.008m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | - | €9.6m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.9m | €1.2m | €1.2m | €1.4m | ▲ 14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €3.3m | €2.1m | €4.3m | €8.6m | €11.6m | €8.8m | €9.6m | ▲ 8.6% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.004m | €0.03m | €0.002m | ▼ 93.0% |
| Non-recurring operating charges66A | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Gross operating margin9900 | €0.5m | -€0.1m | €0.09m | €2.7m | €1.0m | €1.0m | €4.1m | €5.5m | ▲ 33.3% |
| Operating profit (loss)9901 | -€0.3m | -€3.8m | -€2.8m | -€2.3m | -€8.5m | -€11.8m | -€6.0m | -€5.5m | ▲ 7.6% |
| Financial income75/76B | - | - | - | €1 | - | €0.4m | €0.1m | €0.3m | ▲ 131% |
| Recurring financial income75 | €0.06m | €0.1m | €0.009m | €1 | - | €0.4m | €0.1m | €0.3m | ▲ 131% |
| Financial charges65/66B | - | - | - | €0.6m | €1.5m | €0.1m | €0.3m | €0.4m | ▲ 24.0% |
| Recurring financial charges65 | €0.6m | €0.4m | €0.2m | €0.6m | €1.5m | €0.1m | €0.3m | €0.4m | ▲ 24.0% |
| Profit (loss) for the period before taxes9903 | -€0.8m | -€4.1m | -€3.1m | -€2.9m | -€9.9m | -€11.5m | -€6.2m | -€5.6m | ▲ 9.2% |
| Income taxes67/77 | €0.001m | - | -€0.1m | -€0.3m | -€0.3m | -€0.6m | -€0.3m | -€0.3m | ▲ 1.9% |
| Profit (loss) for the period9904 | -€0.8m | -€4.1m | -€2.9m | -€2.6m | -€9.6m | -€10.9m | -€5.8m | -€5.3m | ▲ 9.6% |
| Profit (loss) for the period to be appropriated9905 | -€0.8m | -€4.1m | -€2.9m | -€2.6m | -€9.6m | -€10.9m | -€5.8m | -€5.3m | ▲ 9.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €13.9m | €7.3m | €8.4m | €12.6m | €23.2m | €14.8m | €10.1m | €20.6m | ▲ 104% |
| Fixed assets21/28 | €7.9m | €3.0m | €3.3m | €4.0m | €4.2m | €4.4m | €4.1m | €3.5m | ▼ 14.3% |
| Intangible fixed assets21 | €7.8m | €3.0m | €3.2m | €3.8m | €4.0m | €3.9m | €3.9m | €3.3m | ▼ 13.5% |
| Tangible fixed assets22/27 | €0.03m | €0.03m | €0.02m | €0.1m | €0.2m | €0.4m | €0.3m | €0.2m | ▼ 28.6% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.4m | €0.2m | €0.1m | ▼ 33.2% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.05m | €0.05m | €0.04m | €0.03m | ▼ 8.7% |
| Other tangible fixed assets26 | - | - | - | - | - | €0.01m | €0.01m | €0.01m | ▼ 11.8% |
| Financial fixed assets28 | €0.01m | €0.009m | €0.01m | €0.01m | €0.01m | €0.02m | €0.01m | €0.01m | = |
| Current assets29/58 | €6.1m | €4.3m | €5.2m | €8.6m | €19.0m | €10.4m | €6.0m | €17.1m | ▲ 186% |
| Amounts receivable after more than one year29 | - | - | - | €0.4m | €0.7m | €1.4m | €1.6m | €1.7m | ▲ 10.3% |
| Other amounts receivable291 | - | - | - | €0.4m | €0.7m | €1.4m | €1.6m | €1.7m | ▲ 10.3% |
| Amounts receivable within one year40/41 | €5.6m | €3.7m | €4.0m | €6.2m | €9.8m | €7.8m | €3.7m | €13.7m | ▲ 267% |
| Trade receivables40 | - | - | - | €6.1m | €4.3m | €3.5m | €3.0m | €3.9m | ▲ 32.7% |
| Other amounts receivable41 | - | - | - | €0.1m | €5.4m | €4.3m | €0.8m | €9.8m | ▲ 13× |
| Cash at bank and in hand54/58 | €0.3m | €0.08m | €0.5m | €1.7m | €6.5m | €0.4m | €0.4m | €1.6m | ▲ 344% |
| Deferred charges and accrued income490/1 | - | - | - | €0.3m | €2.0m | €0.9m | €0.3m | €0.02m | ▼ 95.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €13.9m | €7.3m | €8.4m | €12.6m | €23.2m | €14.8m | €10.1m | €20.6m | ▲ 104% |
| Equity10/15 | €2.2m | -€4.6m | €2.4m | €1.3m | €19.9m | €9.1m | €3.2m | €17.9m | ▲ 457% |
| Contributions10/11 | €0.07m | €0.07m | €1.2m | €3.9m | €29.6m | €29.6m | €29.6m | €29.1m | ▼ 1.7% |
| Capital10 | - | - | - | €3.9m | €29.6m | €29.6m | €29.6m | €29.1m | ▼ 1.7% |
| Issued capital100 | - | - | - | €3.9m | €29.6m | €29.6m | €29.6m | €29.1m | ▼ 1.7% |
| Contributions outside capital11 | - | - | - | €0 | - | - | - | - | - |
| Share premium1100/10 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€2.0m | -€8.8m | -€2.9m | -€2.6m | -€9.6m | -€20.5m | -€26.3m | -€11.1m | ▲ 57.7% |
| Amounts payable17/49 | €11.7m | €12.0m | €6.0m | €11.2m | €3.3m | €5.7m | €6.9m | €2.7m | ▼ 61.2% |
| Amounts payable after more than one year17 | - | €10.4m | €3.3m | €7.1m | - | €0.04m | - | - | - |
| Financial debts170/4 | - | - | - | €7.1m | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | - | - | €0.04m | - | - | - |
| Amounts payable within one year42/48 | €9.7m | €0.6m | €1.3m | €2.3m | €1.4m | €4.2m | €6.9m | €2.7m | ▼ 61.2% |
| Trade debts44 | €0.4m | €0.2m | €0.8m | €2.2m | €1.2m | €4.1m | €4.4m | €2.4m | ▼ 45.5% |
| Suppliers440/4 | - | - | - | €2.2m | €1.2m | €4.1m | €4.4m | €2.4m | ▼ 45.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 22.1% |
| Taxes450/3 | - | - | - | €0.007m | €0.01m | - | €0.007m | €0.01m | ▲ 55.9% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 21.0% |
| Other amounts payable47/48 | - | - | - | - | - | €0.007m | €2.2m | €0.002m | ▼ 99.9% |
| Accrued charges and deferred income492/3 | - | - | - | €1.8m | €1.9m | €1.4m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.8m | -€4.1m | -€2.9m | -€2.6m | -€9.6m | -€10.9m | -€5.8m | -€5.3m | ▲ 9.6% |
| + Depreciation and write-downs630 | €0.6m | €3.3m | €2.1m | €4.3m | €8.6m | €11.6m | €8.8m | €9.6m | ▲ 8.6% |
| Operating cash flow (approximation) | -€0.3m | -€0.8m | -€0.8m | €1.8m | -€1.1m | €0.7m | €3.0m | €4.3m | ▲ 44.6% |
| Investment in fixed assets (approximation) | - | €1.5m | -€2.3m | -€5.0m | -€8.8m | -€11.8m | -€8.6m | -€9.0m | ▼ 4.8% |
| Change in cash | - | -€0.3m | €0.4m | €1.2m | €4.8m | -€6.1m | -€0.009m | €1.3m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 07-07-2026 | 2026-00274255 | NBB |
| 31-12-2024 | full format | 04-07-2025 | 2025-00244129 | |
| 31-12-2023 | full format | 15-11-2024 | 2024-00600669 | |
| 31-12-2022 | full format | 11-07-2023 | 2023-00224592 | |
| 31-12-2021 | full format | 12-07-2022 | 2022-20200866 | |
| 31-12-2020 | full format | 06-07-2021 | 2021-31800523 | |
| 31-12-2019 | full format | 30-07-2020 | 2020-37100366 | |
| 31-12-2018 | full format | 26-08-2019 | 2019-50600178 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-60600386 | |
| 31-12-2016 | full format | 29-09-2017 | 2017-64900477 |
Board & ownership
Directors
Statutory auditor 1
Owners and capital
Shareholders
1 ownerChain of control
- Hyloris Pharmaceuticals
- Hyloris Developments
Owners 1
-
100%
Capital transactions
- Hyloris Pharmaceuticals all shares
- 25-02-2025 Capital increase of €20,000,000 · to €49,566,024.40 · no new shares · in cash
- 25-02-2025 Capital reduction of €20,495,287 · to €29,070,737.40 · to absorb losses
- 22-09-2022 Capital reduction of €2,584,866.11 · to €1,349,804.22 · to absorb losses
- 22-09-2022 Capital increase of €14,000,000 · to €15,349,804.22 · no new shares · in cash
- 22-09-2022 Capital increase of €14,216,220.18 · to €29,566,024.40 · no new shares · in kind
Mandate history
- Statutory auditor
| Name | Functions and periods |
|---|---|
| BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES |
|
| KPMG BEDRIJFSREVISOREN RÉVISEURS D'ENTREPRISES SRL |
|
Network & group
Connections & network
The network starts from the shareholders of Hyloris Developments. Every company they also own or run is a node.
Timeline
Acts, filings and financial milestones
26-09
Gazette deed
Permanent representative: Christophe PelzerAppointment: BDO Bedrijfsrevisoren BV | BDO Réviseurs d'Entreprises SRL (statutory auditor)3 points ▸
- Permanent representative, Christophe Pelzer (représentant (actuel) désigné)
- General meeting, 10-06-2025
- Auditor appointment, BDO Bedrijfsrevisoren BV | BDO Réviseurs d'Entreprises SRL (statutory auditor)
05-03
Gazette deed
Permanent representative: Tanguy Legein2 points ▸
- Permanent representative, Tanguy Legein
- Other provision, “commissaire, commissaire” (deed in French)
25-02
Gazette deed
Capital & sharesCapital increase · Bank account · Capital decrease9 points ▸
- General meeting, 17-02-2025
- Other provision, “perte et actif net, actif net réduit à un montant inférieur à la moitié du capital” (deed in French)
- Other provision, “dispense de lecture, dispense le président de donner lecture du rapport de l'organe d'administration” (deed in French)
- General meeting, “continuer les activités de la Société, réalisant une augmentation de capital et une réduction de capital pour apurer les pertes subies” (deed in French)
- Capital increase, €20,000,000
- Bank account, 12-02-2025
- Capital decrease, €20,495,287
- Amendment of the articles, 5
- Capital, €29,070,737.40
19-05
Gazette deed
Reappointment: KPMG BEDRIJFSREVISOREN/KPMG REVISEURS D'ENTREPRISES SRL (commissaire aux comptes)2 points ▸
- General meeting, 15-09-2022
- Auditor reappointment, KPMG BEDRIJFSREVISOREN/KPMG REVISEURS D'ENTREPRISES SRL (commissaire aux comptes)
Show earlier events
22-09
Gazette deed
Registered office · Capital & sharesRegistered-office move · Capital decrease · Capital increase11 points ▸
- General meeting, 15-09-2022
- Registered-office move, Boulevard Patience et Beaujonc N° 3/1,4000 Liège
- Capital decrease, €2,584,866.11
- Capital increase, €14,000,000
- Bank account, “notaire soussigné, article 7:195 CSA” (deed in French)
- Other provision, “prise de connaissance rapports dispense lecture, HUITIEME RESOLUTION” (deed in French)
- Auditor report, 0, “articles 7:179 §1 deuxième alinéa et 7:197 §1 deuxième alinéa CSA” (deed in French)
- Capital increase, €14,216,220.18
- Hyloris Pharmaceuticals holds all the shares
- Amendment of the articles, 5
- Other provision, “extrait délivré avant enregistrement, article 173,1° bis Code des Droits d'Enregistrement” (deed in French)
07-09
Gazette deed
Registered officeRegistered-office move2 points ▸
- Board meeting, 16-08-2022
- Registered-office move, Boulevard Patience et Beaujonc N° 3/2,4000 Liège
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Hyloris Developments was incorporated on 5 December 2013.1 The registered office was moved to Liège in 2022.2 Between 2022 and 2025 the capital was increased 2 times, most recently to €49.6m.34 Total assets rose from €13.9m in 2018 to €20.6m in 2025 and headcount from 3.4 to 12.2 full-time equivalents.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62042B0366/00B003 | Wallonia | 1.9 ha | - | - |