Aalst Pharma
ActiveSummary
Aalst Pharma has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €75k and a net result of €54k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 20% of 10407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-8
Solvency35▼-52
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.86 against 2.19 in 2024; short-term debt: 58% and cash: 2.8% of total assets), and 90.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
9.6%
Return on assets
6.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 10407 sector peers (2025).
NBB · sector comparisonPosition among 10407 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-08-2026, 13 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
13 d late
2024
20 d early
2023
64 d early
2022
12 d early
2021
73 d early
2020
31 d late
2019
57 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€75k▼ 66.1%
2024 · €221k
Total assets
€781k▲ 118%
2024 · €359k
Net result
€54k▲ 18.8%
2024 · €45k
Working capital
€-64k
2024 · €161k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€111k▲ 226%€142k▲ 28.5%€155k▲ 8.8%€43k▼ 72.3%€65k▲ 50.7%
Net result€112k▲ 219%€144k▲ 28.6%€155k▲ 8.2%€45k▼ 70.7%€54k▲ 18.8%
Equity€220k▲ 0.1%€220k▲ 0.1%€220k▲ 0.1%€221k▲ 0.2%€75k▼ 66.1%
Total assets€462k▲ 22.5%€493k▲ 6.7%€427k▼ 13.4%€359k▼ 15.9%€781k▲ 118%
Debt€242k▲ 53.9%€273k▲ 12.8%€206k▼ 24.3%€138k▼ 33.1%€706k▲ 411%
Working capital€211k▲ 1.6%€214k▲ 1.3%€206k▼ 3.4%€161k▼ 22.2%€-64k
Staff (FTE)0.5=0.5=0.5=0.6▲ 20.0%1.4▲ 133%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 51% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €781k
Fixed assets
€391k ▲ 516%
Current assets
€389k ▲ 31.8%
Equity and liabilities €781k
Equity
€75k ▼ 66.1%
Debt
€706k ▲ 411%
Debt's share of the balance-sheet total rises from 38.5% to 90.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€86k▲
2024 · €48k
Cash flow
€76k▲
2024 · €51k
Current ratio
0.86▼
2024 · 2.19
Quick ratio
0.38▼
2024 · 1.29
Debt to equity
9.43▲
2024 · 0.62
ROE
72.2%▲
2024 · 20.6%
ROA
6.9%▼
2024 · 12.7%
Interest coverage
9.37▼
2024 · 65.69
Debt ≤ 1 year
€453k▲
2024 · €135k
Debt > 1 year
€250k
Income taxes
€2k▲
2024 · €1k
Staff costs
€84k▲
2024 · €24k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €18k | €20k | €18k | €24k | €84k | ▲ 242% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €4k | €6k | €5k | €22k | ▲ 296% |
| Other operating charges640/8 | €468 | €603 | €516 | €666 | €694 | ▲ 4.2% |
| Gross operating margin9900 | €136k | €167k | €179k | €73k | €171k | ▲ 132% |
| Operating profit (loss)9901 | €111k | €142k | €155k | €43k | €65k | ▲ 50.7% |
| Financial income75/76B | €2k | €2k | €1k | €4k | €944 | ▼ 78.3% |
| Recurring financial income75 | €2k | €2k | €1k | €4k | €944 | ▼ 78.3% |
| Financial charges65/66B | €1k | €32 | €565 | €737 | €9k | ▲ 1,150% |
| Recurring financial charges65 | €1k | €32 | €565 | €737 | €9k | ▲ 1,150% |
| Profit (loss) for the period before taxes9903 | €112k | €144k | €156k | €47k | €56k | ▲ 21.2% |
| Income taxes67/77 | €351 | €616 | €504 | €1k | €2k | ▲ 122% |
| Profit (loss) for the period9904 | €112k | €144k | €155k | €45k | €54k | ▲ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €112k | €144k | €155k | €45k | €54k | ▲ 18.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €462k | €493k | €427k | €359k | €781k | ▲ 118% |
| Fixed assets21/28 | €12k | €8k | €14k | €64k | €391k | ▲ 516% |
| Tangible fixed assets22/27 | €12k | €8k | €14k | €59k | €386k | ▲ 560% |
| Land and buildings22 | - | - | - | - | €289k | - |
| Plant, machinery and equipment23 | €5k | €3k | €12k | €20k | €24k | ▲ 24.4% |
| Furniture and vehicles24 | €2k | €1k | - | - | €4k | - |
| Other tangible fixed assets26 | €5k | €3k | €2k | €39k | €69k | ▲ 77.0% |
| Financial fixed assets28 | - | - | - | €5k | €5k | = |
| Current assets29/58 | €450k | €485k | €413k | €295k | €389k | ▲ 31.8% |
| Stocks and contracts in progress3 | €62k | €62k | €72k | €122k | €217k | ▲ 77.9% |
| Stocks30/36 | €62k | €62k | €72k | €122k | €217k | ▲ 77.9% |
| Amounts receivable within one year40/41 | €84k | €167k | €82k | €102k | €143k | ▲ 40.4% |
| Trade receivables40 | €82k | €165k | €82k | €80k | €113k | ▲ 40.9% |
| Other amounts receivable41 | €1k | €3k | €288 | €22k | €30k | ▲ 38.5% |
| Cash at bank and in hand54/58 | €304k | €255k | €258k | €71k | €22k | ▼ 69.3% |
| Deferred charges and accrued income490/1 | - | €300 | €300 | €635 | €8k | ▲ 1,117% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €462k | €493k | €427k | €359k | €781k | ▲ 118% |
| Equity10/15 | €220k | €220k | €220k | €221k | €75k | ▼ 66.1% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €201k | €202k | €202k | €202k | €56k | ▼ 72.2% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €199k | €200k | €202k | €202k | €56k | ▼ 72.2% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €242k | €273k | €206k | €138k | €706k | ▲ 411% |
| Amounts payable after more than one year17 | - | - | - | - | €250k | - |
| Financial debts170/4 | - | - | - | - | €250k | - |
| Amounts payable within one year42/48 | €239k | €271k | €206k | €135k | €453k | ▲ 236% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €14k | - |
| Financial debts43 | - | - | - | - | €150k | - |
| Credit institutions430/8 | - | - | - | - | €150k | - |
| Trade debts44 | €89k | €42k | €35k | €84k | €70k | ▼ 15.9% |
| Suppliers440/4 | €89k | €42k | €35k | €84k | €70k | ▼ 15.9% |
| Advances received on contracts in progress46 | - | €76k | €5k | - | - | - |
| Taxes, remuneration and social security45 | €7k | €10k | €10k | €4k | €10k | ▲ 145% |
| Taxes450/3 | €5k | €6k | €6k | €49 | €267 | ▲ 444% |
| Remuneration and social security454/9 | €1k | €4k | €4k | €4k | €10k | ▲ 142% |
| Other amounts payable47/48 | €144k | €144k | €156k | €47k | €209k | ▲ 344% |
| Accrued charges and deferred income492/3 | €2k | €1k | - | €3k | €3k | ▼ 20.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €112k | €144k | €155k | €45k | €54k | ▲ 18.8% |
| + Depreciation and write-downs630 | €8k | €4k | €6k | €5k | €22k | ▲ 296% |
| Operating cash flow (approximation) | €119k | €148k | €161k | €51k | €76k | ▲ 48.5% |
| Investment in fixed assets (approximation) | - | €0 | €-12k | €-55k | €-349k | ▼ 534% |
| Change in cash | - | €-49k | €3k | €-187k | €-49k | ▲ 73.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 13 days late
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €155k ▲8.2%
Operating result €155k, net result €155k, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €35k ▼55.5%
Net result drops to €35k, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
17-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 3 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 1991
Ground area
160 m²
Building footprint
187 m²
Volume, LiDAR
1,206 m³
Parcel 41302C0559/00K000, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Gentse steenweg 49, 9300 Aalst
since 19912.053.894.826
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41302C0559/00K000 | Flanders | 160 m² | 1 · 187 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 15,409 EUR awarded · 15,409 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 3,730 EUR | 3,730 EUR |
| 2024 | 1 | 3,239 EUR | 3,239 EUR |
| 2023 | 2 | 5,332 EUR | 5,332 EUR |
| 2022 | 1 | 3,108 EUR | 3,108 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Hinderpremie bij openbare werken
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 5,221 companies in sector 47730 we hold annual accounts for 3,860. 3,191 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-07-1991
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Scores and ratios are computed by Checked and are not a credit decision.