AD PHARMA
ActiveSummary
The computed 12-month bankruptcy probability of AD PHARMA is 1.6% (moderate). The 2025 annual accounts show equity of €118,742 and a net result of €88,132. Equity is growing by ~6% per year across the filed fiscal years. Its solvency ranks better than 19% of 10519 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-13
Solvency34▼-3
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.67 against 0.7 in 2024; short-term debt: 16.2% and cash: 3% of total assets), and 91.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
8.6%
Return on assets
6.4%
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 19% of 10519 sector peers (2025).
NBB · sector comparisonPosition among 10519 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
29 d early
2024
20 d late
2023
21 d late
2022
32 d early
2021
31 d early
2020
45 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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. Usually files around 2 July (4 of the last 5 filed years within 49 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€88,132▲ 206%
2024 · €28,775
Working capital
-€74,009▼ 96.2%
2024 · -€37,714
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€8,478-€236▲ 97.2%€45,743€39,929▼ 12.7%€141,828▲ 255%
Net result-€12,117below the sector's middle half€62,439within the sector's middle half€35,332within the sector's middle half▼ 43.4%€28,775within the sector's middle half▼ 18.6%€88,132within the sector's middle half▲ 206%
Equity€25,064below the sector's middle half▼ 32.6%€30,502below the sector's middle half▲ 21.7%€30,835below the sector's middle half▲ 1.1%€30,609below the sector's middle half▼ 0.7%€118,742within the sector's middle half▲ 288%
Total assets€258,934below the sector's middle half▼ 10.0%€270,502below the sector's middle half▲ 4.5%€287,121below the sector's middle half▲ 6.1%€259,294below the sector's middle half▼ 9.7%€1.4mwithin the sector's middle half▲ 429%
Debt€233,870▼ 6.6%€239,999▲ 2.6%€256,286▲ 6.8%€228,685▼ 10.8%€1.3m▲ 448%
Working capital-€56,966below the sector's middle half-€72,772below the sector's middle half▼ 27.7%-€19,359below the sector's middle half▲ 73.4%-€37,714below the sector's middle half▼ 94.8%-€74,009below the sector's middle half▼ 96.2%
Solvency9.7%below the sector's middle half▼ 3.3pp11.3%below the sector's middle half▲ 1.6pp10.7%below the sector's middle half▼ 0.5pp11.8%below the sector's middle half▲ 1.1pp8.6%below the sector's middle half▼ 3.2pp
Current ratio0.02below the sector's middle half▼ 1.420.18below the sector's middle half▲ 0.160.85below the sector's middle half▲ 0.670.70below the sector's middle half▼ 0.150.67below the sector's middle half▼ 0.04
Return on assets (ROA)-4.7%below the sector's middle half▼ 7.2pp23.1%above the sector's middle half▲ 27.8pp12.3%above the sector's middle half▼ 10.8pp11.1%above the sector's middle half▼ 1.2pp6.4%within the sector's middle half▼ 4.7pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 255% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.2m ▲ 621%
Current assets
€148,723 ▲ 66.0%
Equity and liabilities €1.4m
Equity
€118,742 ▲ 288%
Debt
€1.3m ▲ 448%
Debt's share of the balance-sheet total rises from 88.2% to 91.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€147,496▲
2024 · €46,957
Cash flow
€93,800▲
2024 · €35,802
Debt to equity
10.56▲
2024 · 7.47
ROE
74.2%▼
2024 · 94.0%
Interest coverage
5.13▼
2024 · 15.78
Debt ≤ 1 year
€222,732▲
2024 · €127,286
Debt > 1 year
€1.0m▲
2024 · €101,399
Income taxes
€25,440▲
2024 · €8,598
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,972 | €3,333 | €8,999 | €7,028 | €5,668 | ▼ 19.3% |
| Other operating charges640/8 | €50 | - | - | - | €2 | - |
| Gross operating margin9900 | -€6,456 | €3,097 | €54,742 | €46,957 | €147,498 | ▲ 214% |
| Operating profit (loss)9901 | -€8,478 | -€236 | €45,743 | €39,929 | €141,828 | ▲ 255% |
| Financial income75/76B | - | €65,000 | - | €418 | €481 | ▲ 15.2% |
| Recurring financial income75 | - | €65,000 | - | €418 | €481 | ▲ 15.2% |
| Financial charges65/66B | €3,522 | €2,319 | €1,956 | €2,975 | €28,737 | ▲ 866% |
| Recurring financial charges65 | €3,522 | €2,319 | €1,956 | €2,975 | €28,737 | ▲ 866% |
| Profit (loss) for the period before taxes9903 | -€12,000 | €62,445 | €43,787 | €37,372 | €113,572 | ▲ 204% |
| Income taxes67/77 | €117 | €6 | €8,455 | €8,598 | €25,440 | ▲ 196% |
| Profit (loss) for the period9904 | -€12,117 | €62,439 | €35,332 | €28,775 | €88,132 | ▲ 206% |
| Profit (loss) for the period to be appropriated9905 | -€12,117 | €62,439 | €35,332 | €28,775 | €88,132 | ▲ 206% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €258,934 | €270,502 | €287,121 | €259,294 | €1.4m | ▲ 429% |
| Fixed assets21/28 | €258,028 | €254,695 | €176,749 | €169,722 | €1.2m | ▲ 621% |
| Tangible fixed assets22/27 | €8,028 | €4,695 | €12,695 | €5,668 | - | - |
| Furniture and vehicles24 | €8,028 | €4,695 | €12,695 | €5,668 | - | - |
| Financial fixed assets28 | €250,000 | €250,000 | €164,054 | €164,054 | €1.2m | ▲ 646% |
| Current assets29/58 | €906 | €15,807 | €110,372 | €89,572 | €148,723 | ▲ 66.0% |
| Amounts receivable within one year40/41 | - | - | - | €12,100 | €67,310 | ▲ 456% |
| Trade receivables40 | - | - | - | €12,100 | €46 | ▼ 99.6% |
| Other amounts receivable41 | - | - | - | - | €67,264 | - |
| Current investments50/53 | - | - | - | €40,000 | €40,000 | = |
| Cash at bank and in hand54/58 | €76 | €14,983 | €109,538 | €37,282 | €41,413 | ▲ 11.1% |
| Deferred charges and accrued income490/1 | €830 | €824 | €834 | €190 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €258,934 | €270,502 | €287,121 | €259,294 | €1.4m | ▲ 429% |
| Equity10/15 | €25,064 | €30,502 | €30,835 | €30,609 | €118,742 | ▲ 288% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €359 | €359 | €359 | - | - | - |
| Non-distributable reserves130/1 | €359 | €359 | €359 | - | - | - |
| Reserves not available under the articles1311 | €359 | €359 | €359 | - | - | - |
| Profit (loss) carried forward14 | -€5,295 | €143 | €476 | €609 | €88,742 | ▲ 14,469% |
| Amounts payable17/49 | €233,870 | €239,999 | €256,286 | €228,685 | €1.3m | ▲ 448% |
| Amounts payable after more than one year17 | €175,998 | €151,420 | €126,555 | €101,399 | €1.0m | ▲ 917% |
| Financial debts170/4 | €175,998 | €151,420 | €126,555 | €101,399 | €1.0m | ▲ 917% |
| Amounts payable within one year42/48 | €57,873 | €88,579 | €129,731 | €127,286 | €222,732 | ▲ 75.0% |
| Current portion of amounts payable after more than one year42 | €24,293 | €24,577 | €24,865 | €25,156 | €101,059 | ▲ 302% |
| Trade debts44 | €2,833 | €1,719 | €6,464 | €4,011 | €728 | ▼ 81.9% |
| Suppliers440/4 | €2,833 | €1,719 | €6,464 | €4,011 | €728 | ▼ 81.9% |
| Taxes, remuneration and social security45 | €5,293 | €3,011 | €11,370 | €7,755 | €31,522 | ▲ 306% |
| Taxes450/3 | €5,293 | €3,011 | €11,370 | €7,755 | €31,522 | ▲ 306% |
| Other amounts payable47/48 | €25,454 | €59,272 | €87,032 | €90,364 | €89,423 | ▼ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,117 | €62,439 | €35,332 | €28,775 | €88,132 | ▲ 206% |
| + Depreciation and write-downs630 | €1,972 | €3,333 | €8,999 | €7,028 | €5,668 | ▼ 19.3% |
| Operating cash flow (approximation) | -€10,144 | €65,772 | €44,331 | €35,802 | €93,800 | ▲ 162% |
| Investment in fixed assets (approximation) | - | €0 | €68,946 | €0 | -€1.1m | - |
| Change in cash | - | €14,907 | €94,554 | -€72,255 | €4,131 | ▲ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2020net €88,132 ▲206%
Operating result €141,828, net result €88,132, both a record.
31-12
Financial
Equity above €100,000Eq €118,742 ▲288%
4 profitable years in a row build equity to €118,742.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 21 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €62,439
Net result €62,439 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€12,117
Net result drops to -€12,117, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Châtelet · 1 establishment unit since 2019
Ground area
600 m²
Building footprint
132 m²
Volume, LiDAR
1,029 m³
Parcel 52007B0276/00W000, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue de la Pauche 13, 6200 Châtelet
since 20192.295.176.584
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52007B0276/00W000 | Wallonia | 600 m² | 1 · 132 m² | 10.3 m · 3 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
100%
According to the 2025 annual accounts of AD PHARMA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,499 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
Founded28-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Contact
E-mail
christophe.dimitri13@gmail.comChâtelet
Phone
+32477223040Châtelet
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736833279
Also
9925:BE0736833279
Registered
11-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.