HM Pharma: what changed
Two fiscal 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.
HM Pharma
Largest movements
- Financial fixed assets +€755,136
up €755,136 (+46501.4%), from €1,624 to €756,760
- Cash +€42,937
up €42,937 (+30.9%), from €138,746 to €181,683
mainly Debts after one year (+€664,146) and Net result for the year (+€67,980)
- Debts after one year +€664,146
up €664,146 (+1663.7%), from €39,919 to €704,065
- Reserves +€67,980
up €67,980 (+23.8%), from €285,574 to €353,554
- Current portion of long-term debt +€63,421
up €63,421 (+853.2%), from €7,433 to €70,854
- Trade debts +€34,588
up €34,588 (+51.7%), from €66,907 to €101,495
- Staff costs +€7,280
up €7,280 (+9.6%), from €75,905 to €83,185
- Gross operating margin -€3,937
down €3,937 (-2.0%), from €196,403 to €192,466
- Taxes -€2,549
down €2,549 (-9.5%), from €26,938 to €24,389
- Financial income +€2,170
up €2,170 (+76.3%), from €2,843 to €5,013
From the 2025 result to the 2026 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.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €437,528 | €1,254,473 | +€816,945 | +186.7% |
| Fixed assets | 21/28 | €102,176 | €855,722 | +€753,546 | +737.5% |
| Tangible fixed assets | 22/27 | €100,553 | €98,962 | -€1,590 | -1.6% |
| Land and buildings | 22 | €67,163 | €63,536 | -€3,627 | -5.4% |
| Plant, machinery and equipment | 23 | €2,504 | €2,608 | +€104 | +4.2% |
| Furniture and vehicles | 24 | €30,886 | €32,818 | +€1,932 | +6.3% |
| Financial fixed assets | 28 | €1,624 | €756,760 | +€755,136 | +46501.4% |
| Current assets | 29/58 | €335,351 | €398,750 | +€63,399 | +18.9% |
| Stocks and contracts in progress | 3 | €123,732 | €129,479 | +€5,747 | +4.6% |
| Stocks | 30/36 | €123,732 | €129,479 | +€5,747 | +4.6% |
| Amounts receivable within one year | 40/41 | €13,875 | €17,690 | +€3,815 | +27.5% |
| Trade receivables | 40 | €6,787 | €3,360 | -€3,427 | -50.5% |
| Other amounts receivable | 41 | €7,088 | €14,330 | +€7,242 | +102.2% |
| Cash at bank and in hand | 54/58 | €138,746 | €181,683 | +€42,937 | +30.9% |
| Deferred charges and accrued income | 490/1 | €58,998 | €69,899 | +€10,900 | +18.5% |
| Total equity and liabilities | 10/49 | €437,528 | €1,254,473 | +€816,945 | +186.7% |
| Equity | 10/15 | €286,574 | €354,554 | +€67,980 | +23.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €285,574 | €353,554 | +€67,980 | +23.8% |
| Distributable reserves | 133 | €285,574 | €353,554 | +€67,980 | +23.8% |
| Amounts payable | 17/49 | €150,953 | €899,919 | +€748,965 | +496.2% |
| Amounts payable after more than one year | 17 | €39,919 | €704,065 | +€664,146 | +1663.7% |
| Financial debts | 170/4 | €39,919 | €704,065 | +€664,146 | +1663.7% |
| Amounts payable within one year | 42/48 | €100,195 | €190,434 | +€90,239 | +90.1% |
| Current portion of amounts payable after more than one year | 42 | €7,433 | €70,854 | +€63,421 | +853.2% |
| Trade debts | 44 | €66,907 | €101,495 | +€34,588 | +51.7% |
| Suppliers | 440/4 | €66,907 | €101,495 | +€34,588 | +51.7% |
| Taxes, remuneration and social security | 45 | €25,855 | €18,085 | -€7,770 | -30.1% |
| Taxes | 450/3 | €10,818 | €1,720 | -€9,099 | -84.1% |
| Remuneration and social security | 454/9 | €15,037 | €16,365 | +€1,329 | +8.8% |
| Accrued charges and deferred income | 492/3 | €10,839 | €5,420 | -€5,420 | -50.0% |
| Remuneration, social security and pensions | 62 | €75,905 | €83,185 | +€7,280 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,076 | €18,532 | +€456 | +2.5% |
| Other operating charges | 640/8 | €186 | €188 | +€2 | +1.1% |
| Gross operating margin | 9900 | €196,403 | €192,466 | -€3,937 | -2.0% |
| Operating profit (loss) | 9901 | €102,236 | €90,561 | -€11,676 | -11.4% |
| Financial income | 75/76B | €2,843 | €5,013 | +€2,170 | +76.3% |
| Recurring financial income | 75 | €2,843 | €5,013 | +€2,170 | +76.3% |
| Financial charges | 65/66B | €4,452 | €3,205 | -€1,247 | -28.0% |
| Recurring financial charges | 65 | €4,452 | €3,205 | -€1,247 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €100,627 | €92,368 | -€8,259 | -8.2% |
| Income taxes | 67/77 | €26,938 | €24,389 | -€2,549 | -9.5% |
| Profit (loss) for the period | 9904 | €73,689 | €67,980 | -€5,709 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,689 | €67,980 | -€5,709 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.