Haelvoetpharma: 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.
Haelvoetpharma
Largest movements
- Receivables within one year +€169,800
up €169,800 (+319%), from €53,182 to €222,982
of which Trade receivables: +€90,270
- Cash +€117,598
up €117,598 (+40.2%), from €292,214 to €409,813
mainly Net result for the year (+€146,299) and Trade debts (+€115,909)
- Stocks and contracts -€93,219
down €93,219 (-42.8%), from €217,947 to €124,727
- Tangible fixed assets +€18,660
up €18,660 (+14.5%), from €128,518 to €147,178
of which Plant, machinery and equipment: +€40,248
- Trade debts +€115,909
up €115,909 (+78.3%), from €148,004 to €263,913
- Profit (loss) carried forward +€76,299
up €76,299 (+98.2%), from €77,719 to €154,018
- Other debts +€68,857
up €68,857 (+6,022%), from €1,143 to €70,000
- Debts after one year -€24,287
down €24,287 (-100%), from €24,287 to €0
- Tax, wage and social debts -€16,717
down €16,717 (-56.0%), from €29,826 to €13,109
of which Taxes: -€17,439
- Gross operating margin +€91,915
up €91,915 (+45.5%), from €202,158 to €294,073
- Taxes +€31,826
up €31,826 (+157%), from €20,274 to €52,100
- Staff costs -€27,508
down €27,508 (-34.7%), from €79,349 to €51,841
- Financial income -€9,575
down €9,575 (-76.2%), from €12,560 to €2,985
- Other operating charges +€7,826
up €7,826 (+90.5%), from €8,647 to €16,473
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 | €699,876 | €906,520 | +€206,644 | +29.5% |
| Fixed assets | 21/28 | €129,089 | €147,749 | +€18,660 | +14.5% |
| Tangible fixed assets | 22/27 | €128,518 | €147,178 | +€18,660 | +14.5% |
| Land and buildings | 22 | €124,839 | €103,959 | -€20,880 | -16.7% |
| Plant, machinery and equipment | 23 | €2,835 | €43,083 | +€40,248 | +1,420% |
| Furniture and vehicles | 24 | €844 | €135 | -€708 | -84.0% |
| Financial fixed assets | 28 | €571 | €571 | = | 0.0% |
| Current assets | 29/58 | €570,787 | €758,772 | +€187,984 | +32.9% |
| Stocks and contracts in progress | 3 | €217,947 | €124,727 | -€93,219 | -42.8% |
| Stocks | 30/36 | €217,947 | €124,727 | -€93,219 | -42.8% |
| Amounts receivable within one year | 40/41 | €53,182 | €222,982 | +€169,800 | +319% |
| Trade receivables | 40 | €48,147 | €138,417 | +€90,270 | +187% |
| Other amounts receivable | 41 | €5,034 | €84,564 | +€79,530 | +1,580% |
| Cash at bank and in hand | 54/58 | €292,214 | €409,813 | +€117,598 | +40.2% |
| Deferred charges and accrued income | 490/1 | €7,444 | €1,250 | -€6,194 | -83.2% |
| Total equity and liabilities | 10/49 | €699,876 | €906,520 | +€206,644 | +29.5% |
| Equity | 10/15 | €458,434 | €534,733 | +€76,299 | +16.6% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €332,115 | €332,115 | = | 0.0% |
| Distributable reserves | 133 | €332,115 | €332,115 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,719 | €154,018 | +€76,299 | +98.2% |
| Amounts payable | 17/49 | €241,442 | €371,787 | +€130,346 | +54.0% |
| Amounts payable after more than one year | 17 | €24,287 | €0 | -€24,287 | -100% |
| Financial debts | 170/4 | €24,287 | €0 | -€24,287 | -100% |
| Amounts payable within one year | 42/48 | €217,154 | €371,309 | +€154,155 | +71.0% |
| Current portion of amounts payable after more than one year | 42 | €38,181 | €24,287 | -€13,894 | -36.4% |
| Trade debts | 44 | €148,004 | €263,913 | +€115,909 | +78.3% |
| Suppliers | 440/4 | €148,004 | €263,913 | +€115,909 | +78.3% |
| Taxes, remuneration and social security | 45 | €29,826 | €13,109 | -€16,717 | -56.0% |
| Taxes | 450/3 | €22,376 | €4,937 | -€17,439 | -77.9% |
| Remuneration and social security | 454/9 | €7,450 | €8,172 | +€722 | +9.7% |
| Other amounts payable | 47/48 | €1,143 | €70,000 | +€68,857 | +6,022% |
| Accrued charges and deferred income | 492/3 | - | €478 | +€478 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €79,349 | €51,841 | -€27,508 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,953 | €24,291 | +€1,338 | +5.8% |
| Other operating charges | 640/8 | €8,647 | €16,473 | +€7,826 | +90.5% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €202,158 | €294,073 | +€91,915 | +45.5% |
| Operating profit (loss) | 9901 | €91,209 | €201,468 | +€110,259 | +121% |
| Financial income | 75/76B | €12,560 | €2,985 | -€9,575 | -76.2% |
| Recurring financial income | 75 | €12,560 | €2,985 | -€9,575 | -76.2% |
| Financial charges | 65/66B | €5,777 | €6,055 | +€278 | +4.8% |
| Recurring financial charges | 65 | €5,777 | €6,055 | +€278 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €97,993 | €198,399 | +€100,406 | +102% |
| Income taxes | 67/77 | €20,274 | €52,100 | +€31,826 | +157% |
| Profit (loss) for the period | 9904 | €77,719 | €146,299 | +€68,580 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77,719 | €146,299 | +€68,580 | +88.2% |
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.