Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 10 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 24.3 to 16.5.
Financials
Financial year 2025
HC Pharma from Hamme (Vl.), company number BE0405023993, closed financial year 2025 with a result of € -235,534 after tax. For that financial year HC Pharma recorded a gross margin of € 968,350 and equity of € -992,548. Compared with financial year 2024, the result moved from € -16,004 to € -235,534. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on May 12, 2026.
€ -992,548
▼ € 235,534 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -235,534
▼ 1372 % more loss than in 2024
Profit after tax over the fiscal year.
€ 4,220
▼ 6% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.6 million.
People and assets in 2025
16.5
▼ 4.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 791,193
▼ 8% vs 2024
€ 48,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 11,414
▼ 33% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 1.2 million
▲ 267% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 97,515
▼ 7% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,171,323 | € 1,241,011 | € 1,156,890 | € 968,350 | ▼ 16% |
| Profit after taxes | € 56,560 | € 117,025 | € -16,004 | € -235,534 | ▼ € 219,530 |
| Equity | € -858,035 | € -741,010 | € -757,014 | € -992,548 | ▼ € 235,534 |
| Total debts | € 4,644,594 | € 4,348,101 | € 5,209,484 | € 5,913,816 | ▲ 14% |
| Cash | € 8,981 | € 3,836 | € 4,481 | € 4,220 | ▼ 6% |
| Land & buildings | € 2,076,062 | € 1,979,287 | € 1,879,349 | € 1,774,796 | ▼ 6% |
| Retained profit | € -1,426,635 | € -1,309,610 | € -1,325,614 | € -1,561,148 | ▼ € 235,534 |
| Balance sheet total | € 3,786,559 | € 3,607,091 | € 4,452,470 | € 4,921,268 | ▲ 11% |
| Employees (FTE) | 24.2 | 24.3 | 21.2 | 16.5 | ▼ 4.7 |
Key figures of HC Pharma, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to HC Pharma?
What happened at HC Pharma in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 235,534. Source: NBB ↗
- Alexo BV became a director. NBB
- Louwagie Consulting BV became a director. NBB
- Sodiap BV became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Hamme (Vl.). KBO
In short
From € 56,560 profit in 2022 to € 235,534 loss in 2025.
Paid € 713 in corporate taxes since 2022.
Best year ever: 2023, with € 117,025 profit.
On average € 58,700 of value added per employee in 2025.
Management
The stake of SODIAP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HC PharmaBehind HC Pharma are Sodiap BV, Alexo BV and Louwagie Consulting BV. The shares are held by SODIAP (100%).
Directors
According to the 2025 annual accounts
Managing director · represented by Tom Goderis
Also active at: SDC, APOTHEEK JENNE, Apotheek de Lisseweg, Apotheek Seurinck, APOTHEEK SCARPHOUT, C.E. FARMA, SANIFAR, WENDUINE PHARMA +24 more
since 2020
Chairman of the board · represented by Olivier Delaere
Also active at: SDC, SODIAP, APOTHEEK JENNE, PANNOC CHEMIE, Apotheek de Lisseweg, Apotheek Seurinck, APOTHEEK SCARPHOUT, C.E. FARMA +34 more
since 2022
Managing director · represented by Gilles Louwagie
since 2022
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Kapellestraat 55
9220 Hamme (Vl.)
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.023.993
- VAT number
- BE 0405.023.993
- Registered office
- Kapellestraat 55, 9220 Hamme (Vl.)
- Names & denominations
- HC Pharma
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 April 1961
- Peppol
- Active · Active since 6 Jun 2025
- Activities · NACE
Detailhandel in farmaceutische producten
Apothekers