HULSPHARMA: 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.
HULSPHARMA
Largest movements
- Receivables within one year -€138,656
down €138,656 (-67.5%), from €205,561 to €66,904
of which Other amounts receivable: -€143,540
- Tangible fixed assets +€53,089
up €53,089 (+17.5%), from €303,100 to €356,189
of which Land and buildings: +€51,171
- Cash +€52,343
up €52,343 (+14.8%), from €354,016 to €406,359
mainly Receivables within one year (+€138,656) and Net result for the year (+€133,452)
- Stocks and contracts +€25,822
up €25,822 (+7.6%), from €340,428 to €366,250
- Trade debts -€79,368
down €79,368 (-54.5%), from €145,710 to €66,341
- Other debts +€63,122
up €63,122 (+43.0%), from €146,677 to €209,799
- Reserves +€28,452
up €28,452 (+3.6%), from €799,556 to €828,008
of which Distributable reserves: +€28,452
- Debts after one year -€21,364
down €21,364 (-79.8%), from €26,766 to €5,402
- Staff costs +€26,841
up €26,841 (+298.5%), from €8,992 to €35,833
- Gross operating margin -€5,641
down €5,641 (-2.5%), from €224,996 to €219,355
- Financial charges -€5,236
down €5,236 (-69.3%), from €7,551 to €2,316
- Taxes +€4,021
up €4,021 (+62.7%), from €6,411 to €10,432
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.
Cash bridge derived
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 | €1,212,664 | €1,203,489 | -€9,174 | -0.8% |
| Fixed assets | 21/28 | €303,100 | €356,189 | +€53,089 | +17.5% |
| Tangible fixed assets | 22/27 | €303,100 | €356,189 | +€53,089 | +17.5% |
| Land and buildings | 22 | €291,581 | €342,752 | +€51,171 | +17.5% |
| Plant, machinery and equipment | 23 | €11,518 | €13,437 | +€1,919 | +16.7% |
| Current assets | 29/58 | €909,564 | €847,300 | -€62,264 | -6.8% |
| Stocks and contracts in progress | 3 | €340,428 | €366,250 | +€25,822 | +7.6% |
| Stocks | 30/36 | €340,428 | €366,250 | +€25,822 | +7.6% |
| Amounts receivable within one year | 40/41 | €205,561 | €66,904 | -€138,656 | -67.5% |
| Trade receivables | 40 | €59,784 | €64,668 | +€4,884 | +8.2% |
| Other amounts receivable | 41 | €145,777 | €2,237 | -€143,540 | -98.5% |
| Cash at bank and in hand | 54/58 | €354,016 | €406,359 | +€52,343 | +14.8% |
| Deferred charges and accrued income | 490/1 | €9,559 | €7,787 | -€1,772 | -18.5% |
| Total equity and liabilities | 10/49 | €1,212,664 | €1,203,489 | -€9,174 | -0.8% |
| Equity | 10/15 | €861,529 | €889,981 | +€28,452 | +3.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €799,556 | €828,008 | +€28,452 | +3.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €793,358 | €821,810 | +€28,452 | +3.6% |
| Amounts payable | 17/49 | €351,135 | €313,508 | -€37,626 | -10.7% |
| Amounts payable after more than one year | 17 | €26,766 | €5,402 | -€21,364 | -79.8% |
| Financial debts | 170/4 | €26,766 | €5,402 | -€21,364 | -79.8% |
| Amounts payable within one year | 42/48 | €321,182 | €305,587 | -€15,596 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €20,979 | €21,364 | +€385 | +1.8% |
| Trade debts | 44 | €145,710 | €66,341 | -€79,368 | -54.5% |
| Suppliers | 440/4 | €145,710 | €66,341 | -€79,368 | -54.5% |
| Taxes, remuneration and social security | 45 | €7,817 | €8,083 | +€266 | +3.4% |
| Taxes | 450/3 | €4,156 | €361 | -€3,796 | -91.3% |
| Remuneration and social security | 454/9 | €3,661 | €7,722 | +€4,061 | +110.9% |
| Other amounts payable | 47/48 | €146,677 | €209,799 | +€63,122 | +43.0% |
| Accrued charges and deferred income | 492/3 | €3,187 | €2,519 | -€667 | -20.9% |
| Remuneration, social security and pensions | 62 | €8,992 | €35,833 | +€26,841 | +298.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,714 | €35,975 | +€261 | +0.7% |
| Other operating charges | 640/8 | €3,860 | €3,980 | +€120 | +3.1% |
| Gross operating margin | 9900 | €224,996 | €219,355 | -€5,641 | -2.5% |
| Operating profit (loss) | 9901 | €176,430 | €143,567 | -€32,863 | -18.6% |
| Financial income | 75/76B | €1,247 | €2,632 | +€1,385 | +111.1% |
| Recurring financial income | 75 | €1,247 | €2,632 | +€1,385 | +111.1% |
| Financial charges | 65/66B | €7,551 | €2,316 | -€5,236 | -69.3% |
| Recurring financial charges | 65 | €7,551 | €2,316 | -€5,236 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | €170,126 | €143,884 | -€26,242 | -15.4% |
| Income taxes | 67/77 | €6,411 | €10,432 | +€4,021 | +62.7% |
| Profit (loss) for the period | 9904 | €163,715 | €133,452 | -€30,263 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €163,715 | €133,452 | -€30,263 | -18.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.