HDS - FARMA: 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.
HDS - FARMA
Largest movements
- Tangible fixed assets +€444,326
up €444,326 (+82.6%), from €538,063 to €982,389
of which Plant, machinery and equipment: +€466,874
- Receivables within one year -€31,108
down €31,108 (-17.6%), from €176,440 to €145,332
of which Trade receivables: -€54,911
- Intangible fixed assets -€20,000
down €20,000 (-100%), from €20,000 to €0
- Debts after one year +€378,266
up €378,266 (+134%), from €282,972 to €661,238
- Current portion of long-term debt +€50,917
up €50,917 (+250%), from €20,333 to €71,250
- Other debts -€25,252
down €25,252 (-13.4%), from €187,752 to €162,500
- Trade debts -€17,668
down €17,668 (-11.5%), from €154,082 to €136,414
- Depreciation -€26,265
down €26,265 (-30.0%), from €87,691 to €61,426
- Gross operating margin -€21,907
down €21,907 (-7.7%), from €282,673 to €260,766
- Financial charges +€13,857
up €13,857 (+2,643%), from €524 to €14,381
- Taxes +€5,468
up €5,468 (+976%), from €560 to €6,028
- Other operating charges +€5,351
up €5,351 (+216%), from €2,478 to €7,829
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 | €1,066,394 | €1,463,323 | +€396,929 | +37.2% |
| Fixed assets | 21/28 | €563,063 | €987,389 | +€424,326 | +75.4% |
| Intangible fixed assets | 21 | €20,000 | €0 | -€20,000 | -100% |
| Tangible fixed assets | 22/27 | €538,063 | €982,389 | +€444,326 | +82.6% |
| Land and buildings | 22 | €514,941 | €498,754 | -€16,187 | -3.1% |
| Plant, machinery and equipment | 23 | €5,441 | €472,316 | +€466,874 | +8,580% |
| Furniture and vehicles | 24 | €17,681 | €11,319 | -€6,361 | -36.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €503,331 | €475,934 | -€27,398 | -5.4% |
| Stocks and contracts in progress | 3 | €164,247 | €172,224 | +€7,977 | +4.9% |
| Stocks | 30/36 | €164,247 | €172,224 | +€7,977 | +4.9% |
| Amounts receivable within one year | 40/41 | €176,440 | €145,332 | -€31,108 | -17.6% |
| Trade receivables | 40 | €171,162 | €116,251 | -€54,911 | -32.1% |
| Other amounts receivable | 41 | €5,278 | €29,081 | +€23,803 | +451% |
| Cash at bank and in hand | 54/58 | €157,720 | €150,308 | -€7,413 | -4.7% |
| Deferred charges and accrued income | 490/1 | €4,924 | €8,071 | +€3,146 | +63.9% |
| Total equity and liabilities | 10/49 | €1,066,394 | €1,463,323 | +€396,929 | +37.2% |
| Equity | 10/15 | €408,126 | €408,149 | +€23 | 0.0% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Reserves | 13 | €139,526 | €139,549 | +€23 | 0.0% |
| Distributable reserves | 133 | €139,526 | €139,549 | +€23 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €658,268 | €1,055,174 | +€396,906 | +60.3% |
| Amounts payable after more than one year | 17 | €282,972 | €661,238 | +€378,266 | +134% |
| Financial debts | 170/4 | €282,972 | €661,238 | +€378,266 | +134% |
| Amounts payable within one year | 42/48 | €375,262 | €392,893 | +€17,631 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €20,333 | €71,250 | +€50,917 | +250% |
| Trade debts | 44 | €154,082 | €136,414 | -€17,668 | -11.5% |
| Suppliers | 440/4 | €154,082 | €136,414 | -€17,668 | -11.5% |
| Taxes, remuneration and social security | 45 | €13,096 | €22,729 | +€9,634 | +73.6% |
| Taxes | 450/3 | €0 | €2,693 | +€2,693 | |
| Remuneration and social security | 454/9 | €13,096 | €20,036 | +€6,941 | +53.0% |
| Other amounts payable | 47/48 | €187,752 | €162,500 | -€25,252 | -13.4% |
| Accrued charges and deferred income | 492/3 | €34 | €1,043 | +€1,009 | +2,971% |
| Non-recurring operating income | 76A | €537 | €0 | -€537 | -100% |
| Remuneration, social security and pensions | 62 | €134,615 | €139,495 | +€4,880 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,691 | €61,426 | -€26,265 | -30.0% |
| Other operating charges | 640/8 | €2,478 | €7,829 | +€5,351 | +216% |
| Gross operating margin | 9900 | €282,673 | €260,766 | -€21,907 | -7.7% |
| Operating profit (loss) | 9901 | €57,888 | €52,016 | -€5,872 | -10.1% |
| Financial income | 75/76B | €2,660 | €1,916 | -€744 | -28.0% |
| Recurring financial income | 75 | €2,660 | €1,916 | -€744 | -28.0% |
| Financial charges | 65/66B | €524 | €14,381 | +€13,857 | +2,643% |
| Recurring financial charges | 65 | €524 | €14,381 | +€13,857 | +2,643% |
| Profit (loss) for the period before taxes | 9903 | €60,024 | €39,551 | -€20,472 | -34.1% |
| Income taxes | 67/77 | €560 | €6,028 | +€5,468 | +976% |
| Profit (loss) for the period | 9904 | €59,464 | €33,523 | -€25,941 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,464 | €33,523 | -€25,941 | -43.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.