ALPHAR
ActiveSummary
ALPHAR has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €453,289 and a net result of -€101,511. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 74% of 8085 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-79
Solvency94▲+36
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 3.16 against 1.45 in 2024; short-term debt: 31.2% and cash: 21.9% of total assets), and 31.2% 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
21 d early
2023
61 d late
2022
112 d late
2021
31 d late
2020
31 d late
2019
66 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 44 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 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
-€101,511
2024 · €193,474
Working capital
€443,514▼ 11.5%
2024 · €501,004
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€225,637▼ 23.4%€258,968▲ 14.8%€62,478▼ 75.9%€289,880▲ 364%-€97,163
Net result€120,502▼ 31.8%€138,281▲ 14.8%€10,235▼ 92.6%€193,474▲ 1,790%-€101,511
Equity€1.1m▼ 13.3%€1.2m▲ 13.0%€1.2m▲ 0.9%€554,800▼ 54.2%€453,289▼ 18.3%
Total assets€1.5m▲ 4.2%€1.5m▼ 1.4%€1.5m▲ 1.4%€1.7m▲ 10.0%€658,779▼ 60.5%
Debt€407,813▲ 126%€258,620▼ 36.6%€243,988▼ 5.7%€1.1m▲ 357%€205,490▼ 81.6%
Working capital€1.0m▼ 18.9%€1.2m▲ 13.0%€1.2m▲ 3.9%€501,004▼ 58.2%€443,514▼ 11.5%
Staff (FTE)2▼ 9.1%2.8▲ 40.0%2.1▼ 25.0%1.7▼ 19.0%1.5▼ 11.8%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €97,163 after €289,880 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €658,779
Fixed assets
€9,775 ▼ 81.8%
Current assets
€649,005 ▼ 59.8%
Equity and liabilities €658,779
Equity
€453,289 ▼ 18.3%
Debt
€205,490 ▼ 81.6%
Debt's share of the balance-sheet total falls from 66.8% to 31.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€93,260▼
2024 · €320,893
Cash flow
-€97,608▼
2024 · €224,488
Current ratio
3.16▲
2024 · 1.45
Quick ratio
2.82▲
2024 · 1.36
Debt to equity
0.45▼
2024 · 2.01
ROE
-22.4%▼
2024 · 34.9%
ROA
-15.4%▼
2024 · 11.6%
Interest coverage
-23.53▼
2024 · 5.50
Debt ≤ 1 year
€205,490▼
2024 · €1.1m
Income taxes
€655▼
2024 · €38,441
Staff costs
€83,129▲
2024 · €70,573
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 | €101,497 | €158,830 | €156,455 | €70,573 | €83,129 | ▲ 17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,258 | €31,529 | €31,453 | €31,013 | €3,903 | ▼ 87.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€2,968 | -€9,947 | €24,995 | -€62,700 | - | - |
| Other operating charges640/8 | €10,204 | €4,753 | €15,054 | €5,976 | €11,894 | ▲ 99.0% |
| Gross operating margin9900 | €351,629 | €444,133 | €290,436 | €334,742 | €1,763 | ▼ 99.5% |
| Operating profit (loss)9901 | €225,637 | €258,968 | €62,478 | €289,880 | -€97,163 | ▼ 134% |
| Financial income75/76B | €13 | €0 | €611 | €412 | €270 | ▼ 34.4% |
| Recurring financial income75 | €13 | €0 | €611 | €412 | €270 | ▼ 34.4% |
| Financial charges65/66B | €54,578 | €64,393 | €41,205 | €58,377 | €3,963 | ▼ 93.2% |
| Recurring financial charges65 | €54,578 | €64,393 | €41,205 | €58,377 | €3,963 | ▼ 93.2% |
| Profit (loss) for the period before taxes9903 | €171,072 | €194,575 | €21,884 | €231,915 | -€100,856 | ▼ 143% |
| Income taxes67/77 | €50,570 | €56,294 | €11,649 | €38,441 | €655 | ▼ 98.3% |
| Profit (loss) for the period9904 | €120,502 | €138,281 | €10,235 | €193,474 | -€101,511 | ▼ 152% |
| Transfer from tax-exempt reserves789 | €6,383 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €126,886 | €138,281 | €10,235 | €193,474 | -€101,511 | ▼ 152% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.5m | €1.5m | €1.7m | €658,779 | ▼ 60.5% |
| Fixed assets21/28 | €134,434 | €112,356 | €85,147 | €53,796 | €9,775 | ▼ 81.8% |
| Tangible fixed assets22/27 | €134,097 | €112,019 | €84,810 | €53,796 | €9,775 | ▼ 81.8% |
| Land and buildings22 | €4,462 | €4,462 | €4,462 | €4,462 | €4,462 | = |
| Plant, machinery and equipment23 | €6,180 | €6,435 | €4,812 | €3,190 | €1,567 | ▼ 50.9% |
| Furniture and vehicles24 | €123,456 | €101,122 | €75,535 | €46,145 | €3,746 | ▼ 91.9% |
| Financial fixed assets28 | €337 | €337 | €337 | - | - | - |
| Current assets29/58 | €1.4m | €1.4m | €1.4m | €1.6m | €649,005 | ▼ 59.8% |
| Stocks and contracts in progress3 | €116,755 | €105,983 | €96,459 | €95,821 | €68,500 | ▼ 28.5% |
| Stocks30/36 | €116,755 | €105,983 | €96,459 | €95,821 | €68,500 | ▼ 28.5% |
| Amounts receivable within one year40/41 | €648,414 | €930,872 | €639,649 | €951,106 | €434,200 | ▼ 54.3% |
| Trade receivables40 | €615,984 | €930,872 | €603,249 | €938,741 | €395,403 | ▼ 57.9% |
| Other amounts receivable41 | €32,430 | - | €36,400 | €12,365 | €38,797 | ▲ 214% |
| Cash at bank and in hand54/58 | €618,096 | €346,716 | €692,901 | €568,516 | €144,088 | ▼ 74.7% |
| Deferred charges and accrued income490/1 | €575 | €1,489 | €3,858 | - | €2,217 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.5m | €1.5m | €1.7m | €658,779 | ▼ 60.5% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €554,800 | €453,289 | ▼ 18.3% |
| Contributions10/11 | €165,679 | €165,679 | €165,679 | €165,679 | €165,679 | = |
| Reserves13 | €481,519 | €619,719 | €629,719 | €19 | €19 | = |
| Distributable reserves133 | €481,519 | €619,719 | €629,719 | €19 | €19 | = |
| Profit (loss) carried forward14 | €415,612 | €415,693 | €415,928 | €389,103 | €287,591 | ▼ 26.1% |
| Provisions and deferred taxes16 | €47,652 | €37,705 | €62,700 | - | - | - |
| Provisions for liabilities and charges160/5 | €47,652 | €37,705 | €62,700 | - | - | - |
| Other liabilities and charges164/5 | €47,652 | €37,705 | €62,700 | - | - | - |
| Amounts payable17/49 | €407,813 | €258,620 | €243,988 | €1.1m | €205,490 | ▼ 81.6% |
| Amounts payable after more than one year17 | €44,832 | €27,335 | €9,702 | - | - | - |
| Financial debts170/4 | €44,832 | €27,335 | €9,702 | - | - | - |
| Amounts payable within one year42/48 | €362,981 | €231,286 | €234,286 | €1.1m | €205,490 | ▼ 81.6% |
| Current portion of amounts payable after more than one year42 | €33,434 | €33,564 | €33,869 | €19,847 | - | - |
| Financial debts43 | €84 | - | - | - | - | - |
| Other loans439 | €84 | - | - | - | - | - |
| Trade debts44 | €155,308 | €153,807 | €180,773 | €164,629 | €22,511 | ▼ 86.3% |
| Suppliers440/4 | €155,308 | €153,807 | €180,773 | €164,629 | €22,511 | ▼ 86.3% |
| Taxes, remuneration and social security45 | €18,969 | €36,420 | €1,788 | €5,805 | €13,975 | ▲ 141% |
| Taxes450/3 | €7,612 | €17,437 | €149 | - | €875 | - |
| Remuneration and social security454/9 | €11,357 | €18,983 | €1,640 | €5,805 | €13,099 | ▲ 126% |
| Other amounts payable47/48 | €155,186 | €7,493 | €17,856 | €924,158 | €169,004 | ▼ 81.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €120,502 | €138,281 | €10,235 | €193,474 | -€101,511 | ▼ 152% |
| + Depreciation and write-downs630 | €17,258 | €31,529 | €31,453 | €31,013 | €3,903 | ▼ 87.4% |
| Operating cash flow (approximation) | €137,761 | €169,810 | €41,688 | €224,488 | -€97,608 | ▼ 143% |
| Investment in fixed assets (approximation) | - | -€9,451 | -€4,243 | €337 | €40,119 | ▲ 11,801% |
| Change in cash | - | -€271,380 | €346,185 | -€124,385 | -€424,428 | ▼ 241% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€101,511
Net result drops to -€101,511, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 3.16
Current ratio from 1.45 to 3.16; short-term debt falls from €1.1m to €205,490.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
20-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 112 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 66 days late
2019
31-12
Financial
Equity above €1mEq €1.0m ▲23.4%
2 profitable years in a row build equity to €1.0m.
22-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 114 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Schaarbeek · 2 establishment units since 1984
Ground area
918 m²
Building footprint
256 m²
Volume, LiDAR
2,268 m³
2 parcels, Brussels, Flanders · tallest building 21.1 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
PHARMACIE APOTEEK
since 19842.025.878.850
Alphar srl
since 20232.343.325.010
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22552F0009/00C063 | Flanders | 756 m² | 1 · 158 m² | 10.8 m · 3 fl. |
| 21909E0239/00M015 | Brussels | 163 m² | 1 · 99 m² | 21.1 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSchaarbeek2.025.878.850
Legal Entity Identifier
54930076FVHOTEFPCG10
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Of 1,903 companies in sector 46460 we hold annual accounts for 1,117. 767 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
Founded21-11-1984
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
47730Retail sale of pharmaceutical products
Contact
E-mail
luc.allard@skynet.beSint-Genesius-Rode
Phone
022164923Sint-Genesius-Rode
Fax
022162231Sint-Genesius-Rode
Scores and ratios are computed by Checked and are not a credit decision.