AG PHAR
ActiveSummary
The computed 12-month bankruptcy probability of AG PHAR is 2.0% (moderate). The 2025 annual accounts show equity of €117,428 and a net result of €34,415. Equity is growing by ~34.6% per year across the filed fiscal years. Its solvency ranks better than 29% of 4231 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+13
Solvency43▲+5
Growth52=
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.45 in 2024; short-term debt: 25% and cash: 13.1% of total assets), but 81.6% 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
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
18.4%
Return on assets
5.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
20 d late
2024
13 d early
2023
96 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 30 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 18 July (3 of the last 3 filed years within 82 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€34,415▲ 36.2%
2024 · €25,271
Working capital
€84,191▲ 42.0%
2024 · €59,309
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
Line202320242025
Operating result€76,303-€55,586▼ 27.2%€62,231▲ 12.0%
Net result€45,241within the sector's middle half-€25,271within the sector's middle half▼ 44.1%€34,415within the sector's middle half▲ 36.2%
Equity€59,408below the sector's middle half-€83,846within the sector's middle half▲ 41.1%€117,428within the sector's middle half▲ 40.1%
Total assets€653,517within the sector's middle half-€625,470within the sector's middle half▼ 4.3%€638,057within the sector's middle half▲ 2.0%
Debt€594,108-€541,624▼ 8.8%€520,629▼ 3.9%
Working capital€63,760within the sector's middle half-€59,309within the sector's middle half▼ 7.0%€84,191within the sector's middle half▲ 42.0%
Solvency9.1%below the sector's middle half-13.4%within the sector's middle half▲ 4.3pp18.4%within the sector's middle half▲ 5.0pp
Current ratio1.57within the sector's middle half-1.45within the sector's middle half▼ 0.121.53within the sector's middle half▲ 0.08
Return on assets (ROA)6.9%within the sector's middle half-4.0%within the sector's middle half▼ 2.9pp5.4%within the sector's middle half▲ 1.4pp
Staff (FTE)0.9below the sector's middle half-2below the sector's middle half▲ 122%2below the sector's middle half=
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 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €638,057
Fixed assets
€394,122 ▼ 9.2%
Current assets
€243,935 ▲ 27.4%
Equity and liabilities €638,057
Equity
€117,428 ▲ 40.1%
Debt
€520,629 ▼ 3.9%
Debt's share of the balance-sheet total falls from 86.6% to 81.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€111,060▲
2024 · €107,524
Cash flow
€83,244▲
2024 · €77,209
Quick ratio
1.27▲
2024 · 1.18
Debt to equity
4.43▼
2024 · 6.46
ROE
29.3%▼
2024 · 30.1%
Interest coverage
5.61▲
2024 · 4.28
Debt ≤ 1 year
€159,745▲
2024 · €132,184
Debt > 1 year
€359,417▼
2024 · €406,900
Income taxes
€9,361▲
2024 · €6,307
Staff costs
€103,095▲
2024 · €98,996
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.6%
went bankrupt
1.8%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 7,976 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €42,394 | €98,996 | €103,095 | ▲ 4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €62,030 | €51,938 | €48,829 | ▼ 6.0% |
| Other operating charges640/8 | €2,771 | €3,466 | €3,473 | ▲ 0.2% |
| Gross operating margin9900 | €183,498 | €209,987 | €217,629 | ▲ 3.6% |
| Operating profit (loss)9901 | €76,303 | €55,586 | €62,231 | ▲ 12.0% |
| Financial income75/76B | €577 | €1,091 | €1,338 | ▲ 22.7% |
| Recurring financial income75 | €577 | €1,091 | €1,338 | ▲ 22.7% |
| Financial charges65/66B | €18,766 | €25,099 | €19,794 | ▼ 21.1% |
| Recurring financial charges65 | €18,766 | €25,099 | €19,794 | ▼ 21.1% |
| Profit (loss) for the period before taxes9903 | €58,115 | €31,577 | €43,775 | ▲ 38.6% |
| Income taxes67/77 | €12,873 | €6,307 | €9,361 | ▲ 48.4% |
| Profit (loss) for the period9904 | €45,241 | €25,271 | €34,415 | ▲ 36.2% |
| Profit (loss) for the period to be appropriated9905 | €45,241 | €25,271 | €34,415 | ▲ 36.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €653,517 | €625,470 | €638,057 | ▲ 2.0% |
| Fixed assets21/28 | €478,240 | €433,977 | €394,122 | ▼ 9.2% |
| Intangible fixed assets21 | €225,000 | €200,000 | €175,000 | ▼ 12.5% |
| Tangible fixed assets22/27 | €252,720 | €233,332 | €218,477 | ▼ 6.4% |
| Land and buildings22 | €198,474 | €186,153 | €178,564 | ▼ 4.1% |
| Plant, machinery and equipment23 | €971 | €2,015 | €1,649 | ▼ 18.2% |
| Furniture and vehicles24 | €53,275 | €45,164 | €38,265 | ▼ 15.3% |
| Financial fixed assets28 | €520 | €645 | €645 | = |
| Current assets29/58 | €175,276 | €191,493 | €243,935 | ▲ 27.4% |
| Stocks and contracts in progress3 | €36,284 | €36,152 | €40,713 | ▲ 12.6% |
| Stocks30/36 | €36,284 | €36,152 | €40,713 | ▲ 12.6% |
| Amounts receivable within one year40/41 | €74,884 | €89,111 | €112,082 | ▲ 25.8% |
| Trade receivables40 | €74,884 | €89,111 | €112,079 | ▲ 25.8% |
| Other amounts receivable41 | - | - | €2 | - |
| Cash at bank and in hand54/58 | €59,636 | €54,639 | €83,743 | ▲ 53.3% |
| Deferred charges and accrued income490/1 | €4,472 | €11,591 | €7,398 | ▼ 36.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €653,517 | €625,470 | €638,057 | ▲ 2.0% |
| Equity10/15 | €59,408 | €83,846 | €117,428 | ▲ 40.1% |
| Contributions10/11 | €15,000 | €15,000 | €15,000 | = |
| Outside capital11 | €15,000 | €15,000 | €15,000 | = |
| Other1109/19 | €15,000 | €15,000 | €15,000 | = |
| Reserves13 | - | €68,000 | €102,000 | ▲ 50.0% |
| Distributable reserves133 | - | €68,000 | €102,000 | ▲ 50.0% |
| Profit (loss) carried forward14 | €44,408 | €846 | €428 | ▼ 49.4% |
| Amounts payable17/49 | €594,108 | €541,624 | €520,629 | ▼ 3.9% |
| Amounts payable after more than one year17 | €474,894 | €406,900 | €359,417 | ▼ 11.7% |
| Financial debts170/4 | €459,894 | €406,900 | €359,417 | ▼ 11.7% |
| Other amounts payable178/9 | €15,000 | - | - | - |
| Amounts payable within one year42/48 | €111,517 | €132,184 | €159,745 | ▲ 20.8% |
| Current portion of amounts payable after more than one year42 | €55,825 | €56,330 | €50,858 | ▼ 9.7% |
| Trade debts44 | €22,243 | €25,710 | €64,022 | ▲ 149% |
| Suppliers440/4 | €22,243 | €25,710 | €64,022 | ▲ 149% |
| Taxes, remuneration and social security45 | €31,781 | €48,268 | €42,545 | ▼ 11.9% |
| Taxes450/3 | €25,458 | €31,308 | €26,944 | ▼ 13.9% |
| Remuneration and social security454/9 | €6,323 | €16,960 | €15,601 | ▼ 8.0% |
| Other amounts payable47/48 | €1,667 | €1,877 | €2,320 | ▲ 23.6% |
| Accrued charges and deferred income492/3 | €7,698 | €2,540 | €1,468 | ▼ 42.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,241 | €25,271 | €34,415 | ▲ 36.2% |
| + Depreciation and write-downs630 | €62,030 | €51,938 | €48,829 | ▼ 6.0% |
| Operating cash flow (approximation) | €107,271 | €77,209 | €83,244 | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | -€7,675 | -€8,974 | ▼ 16.9% |
| Change in cash | - | -€4,997 | €29,103 | ▲ 682% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 20 days late
2025
31-12
Financial
Equity above €100,000Eq €117,428 ▲40.1%
3 profitable years in a row build equity to €117,428.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €25,271 ▼44.1%
Net result drops to €25,271, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · full 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, Liège · 1 establishment unit since 2023
Ground area
71 m²
Building footprint
43 m²
Volume, LiDAR
614 m³
Parcel 62813E0570/00H000, Wallonia · tallest building 15.1 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue Saint-Gilles 54, 4000 Liège
since 20232.339.346.822
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62813E0570/00H000 | Wallonia | 71 m² | 1 · 43 m² | 15.1 m · 5 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.
Similar companies · same sector, comparable size
APOTHEEK VAN HOORICKX
BE 0479.959.562
Temse · Eq €117,434
Apotheek Van Hoof Nadine
BE 0552.949.686
Antwerpen · Eq €117,459
PHARMACIE APPART
BE 0426.161.085
Schaarbeek · Eq €117,310
PHARMACIE ROLAND RUTH
BE 0882.064.154
Liège · Eq €117,239
PHARMACIE DEMARS
BE 0658.740.955
Mettet · Eq €117,083
Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,493 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
Founded16-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
71121Engineering and related technical consultancy, excluding land surveyors
79901Tourist information services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0794921433
Also
9925:BE0794921433
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.