ANTOPHAR
ActiveSummary
ANTOPHAR has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.2m and a net result of -€87,206. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 86% of 4238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▼-3
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 0.45 against 4.44 in 2024; short-term debt: 24.2% and cash: 0.6% of total assets), and 24.2% 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
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
75.8%
Return on assets
-5.6%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€87,206
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 12-05-2026, 80 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
80 d early
2024
45 d early
2023
50 d early
2022
52 d early
2021
54 d early
2020
47 d early
2019
18 d early
← 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 49 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 9 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 oldest company in Antoing, Wholesale and retail trade sector#4 company by equity in Antoing, Wholesale and retail trade sector#6 company by total assets in Antoing, Wholesale and retail trade sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€87,206▼ 135%
2024 · -€37,033
Working capital
-€204,995
2024 · €510,522
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€50,673▲ 6.6%-€8,801-€26,726▼ 204%-€65,350▼ 145%-€86,997▼ 33.1%
Net result€43,260within the sector's middle half▲ 6.7%€146within the sector's middle half▼ 99.7%-€1,570within the sector's middle half-€37,033below the sector's middle half▼ 2,259%-€87,206below the sector's middle half▼ 135%
Equity€1.3mabove the sector's middle half▲ 3.4%€1.3mabove the sector's middle half=€1.3mabove the sector's middle half▼ 0.1%€1.3mabove the sector's middle half▼ 2.8%€1.2mwithin the sector's middle half▼ 6.9%
Total assets€1.4mwithin the sector's middle half▲ 1.9%€1.4mwithin the sector's middle half▼ 0.4%€1.4mwithin the sector's middle half▼ 0.2%€1.4mwithin the sector's middle half▲ 2.9%€1.6mwithin the sector's middle half▲ 9.9%
Debt€78,130▼ 18.6%€72,273▼ 7.5%€71,741▼ 0.7%€148,380▲ 107%€375,828▲ 153%
Working capital€772,764above the sector's middle half▼ 24.5%€783,755above the sector's middle half▲ 1.4%€803,457above the sector's middle half▲ 2.5%€510,522within the sector's middle half▼ 36.5%-€204,995below the sector's middle half
Solvency94.3%above the sector's middle half▲ 1.4pp94.7%above the sector's middle half▲ 0.4pp94.8%above the sector's middle half=89.5%above the sector's middle half▼ 5.3pp75.8%above the sector's middle half▼ 13.7pp
Current ratio10.89above the sector's middle half▼ 0.7711.84above the sector's middle half▲ 0.9512.20above the sector's middle half▲ 0.364.44above the sector's middle half▼ 7.760.45below the sector's middle half▼ 3.99
Return on assets (ROA)3.1%within the sector's middle half▲ 0.1pp0.0%within the sector's middle half▼ 3.1pp-0.1%within the sector's middle half▼ 0.1pp-2.6%below the sector's middle half▼ 2.5pp-5.6%below the sector's middle half▼ 3.0pp
Staff (FTE)2.7within the sector's middle half=2.8within the sector's middle half▲ 3.7%2.7within the sector's middle half▼ 3.6%2.5below the sector's middle half▼ 7.4%2.5below 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 stays negative: a loss of €86,997 in 2025 against €65,350 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.4m ▲ 83.4%
Current assets
€170,833 ▼ 74.1%
Equity and liabilities €1.6m
Equity
€1.2m ▼ 6.9%
Debt
€375,828 ▲ 153%
Debt's share of the balance-sheet total rises from 10.5% to 24.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€11,191▲
2024 · -€36,426
Cash flow
-€11,400▼
2024 · -€8,109
Quick ratio
0.18▼
2024 · 3.83
Debt to equity
0.32▲
2024 · 0.12
ROE
-7.4%▼
2024 · -2.9%
Interest coverage
-7.02▲
2024 · -36.87
Debt ≤ 1 year
€375,828▲
2024 · €148,380
Income taxes
€176▲
2024 · €174
Staff costs
€170,451▼
2024 · €188,049
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,340 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% | 1.8% |
| 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 12,321 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €836 | - | €8,467 | - |
| Remuneration, social security and pensions62 | €117,249 | €163,666 | €173,646 | €188,049 | €170,451 | ▼ 9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,372 | €30,649 | €30,362 | €28,924 | €75,806 | ▲ 162% |
| Other operating charges640/8 | €5,446 | €7,037 | €8,677 | €8,757 | €8,091 | ▼ 7.6% |
| Gross operating margin9900 | €196,740 | €192,551 | €185,958 | €160,380 | €167,352 | ▲ 4.3% |
| Operating profit (loss)9901 | €50,673 | -€8,801 | -€26,726 | -€65,350 | -€86,997 | ▼ 33.1% |
| Financial income75/76B | €9,909 | €11,914 | €27,321 | €29,479 | €1,560 | ▼ 94.7% |
| Recurring financial income75 | €9,909 | €11,914 | €27,321 | €29,479 | €1,560 | ▼ 94.7% |
| Financial charges65/66B | €633 | €657 | €1,049 | €988 | €1,593 | ▲ 61.3% |
| Recurring financial charges65 | €633 | €657 | €1,049 | €988 | €1,593 | ▲ 61.3% |
| Profit (loss) for the period before taxes9903 | €59,949 | €2,456 | -€454 | -€36,858 | -€87,030 | ▼ 136% |
| Income taxes67/77 | €16,689 | €2,310 | €1,116 | €174 | €176 | ▲ 1.0% |
| Profit (loss) for the period9904 | €43,260 | €146 | -€1,570 | -€37,033 | -€87,206 | ▼ 135% |
| Profit (loss) for the period to be appropriated9905 | €43,260 | €146 | -€1,570 | -€37,033 | -€87,206 | ▼ 135% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.4m | €1.4m | €1.4m | €1.6m | ▲ 9.9% |
| Fixed assets21/28 | €529,811 | €518,967 | €497,694 | €753,597 | €1.4m | ▲ 83.4% |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €529,811 | €518,967 | €497,694 | €753,597 | €1.4m | ▲ 83.4% |
| Land and buildings22 | €518,401 | €510,566 | €491,561 | €680,136 | €1.1m | ▲ 60.1% |
| Plant, machinery and equipment23 | €8,603 | €6,671 | €4,631 | €64,817 | €284,388 | ▲ 339% |
| Furniture and vehicles24 | €2,807 | €1,730 | €1,501 | €8,644 | €8,821 | ▲ 2.0% |
| Current assets29/58 | €850,895 | €856,028 | €875,198 | €658,902 | €170,833 | ▼ 74.1% |
| Stocks and contracts in progress3 | €91,796 | €90,775 | €99,767 | €90,631 | €101,882 | ▲ 12.4% |
| Stocks30/36 | €91,796 | €90,775 | €99,767 | €90,631 | €101,882 | ▲ 12.4% |
| Amounts receivable within one year40/41 | €752,698 | €751,149 | €761,337 | €554,950 | €52,495 | ▼ 90.5% |
| Trade receivables40 | €57,356 | €37,248 | €56,730 | €55,531 | €52,495 | ▼ 5.5% |
| Other amounts receivable41 | €695,342 | €713,902 | €704,608 | €499,419 | - | - |
| Cash at bank and in hand54/58 | €6,400 | €14,104 | €14,094 | €13,321 | €10,077 | ▼ 24.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €6,377 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.4m | €1.4m | €1.4m | €1.6m | ▲ 9.9% |
| Equity10/15 | €1.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 6.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1.3m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 7.0% |
| Tax-exempt reserves132 | €15,082 | €15,082 | €15,082 | €15,082 | €15,082 | = |
| Distributable reserves133 | €1.3m | €1.3m | €1.3m | €1.2m | €1.1m | ▼ 7.1% |
| Amounts payable17/49 | €78,130 | €72,273 | €71,741 | €148,380 | €375,828 | ▲ 153% |
| Amounts payable within one year42/48 | €78,130 | €72,273 | €71,741 | €148,380 | €375,828 | ▲ 153% |
| Trade debts44 | €60,967 | €46,814 | €50,720 | €136,425 | €53,930 | ▼ 60.5% |
| Suppliers440/4 | €60,967 | €46,814 | €50,720 | €136,425 | €53,930 | ▼ 60.5% |
| Taxes, remuneration and social security45 | €17,163 | €25,459 | €21,021 | €11,955 | €20,775 | ▲ 73.8% |
| Taxes450/3 | €1,689 | €3,771 | €0 | €448 | €518 | ▲ 15.7% |
| Remuneration and social security454/9 | €15,474 | €21,689 | €21,021 | €11,507 | €20,258 | ▲ 76.0% |
| Other amounts payable47/48 | - | - | - | - | €301,122 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,260 | €146 | -€1,570 | -€37,033 | -€87,206 | ▼ 135% |
| + Depreciation and write-downs630 | €23,372 | €30,649 | €30,362 | €28,924 | €75,806 | ▲ 162% |
| Operating cash flow (approximation) | €66,632 | €30,795 | €28,792 | -€8,109 | -€11,400 | ▼ 40.6% |
| Investment in fixed assets (approximation) | - | -€19,805 | -€9,090 | -€284,827 | -€704,118 | ▼ 147% |
| Change in cash | - | €7,704 | -€10 | -€773 | -€3,243 | ▼ 319% |
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
04-08
State Gazette act
Resignation: ALEXO (director)Appointment: KST Pharma (director) · Permanent representatives: Koen Straetmans and Tom Goderis · Reappointment: SODIAP (managing director)7 facts ▸
State Gazette act
Resignation: ALEXO (director)
Appointment: KST Pharma (director) · Permanent representatives: Koen Straetmans and Tom Goderis · Reappointment: SODIAP (managing director)7 facts ▸
- General meeting, 19-05-2026
- Director resignation, ALEXO (director)
- Director appointment, KST Pharma (director)
- Permanent representative, Koen Straetmans (representant permanent)
- Board meeting, 19-05-2026
- Director reappointment, SODIAP (managing director)
- Permanent representative, Tom Goderis (representant permanent)
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€87,206
Net result drops to -€87,206, the lowest in the series.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €43,260 ▲6.7%
Operating result €50,673, net result €43,260, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €40,525
Net result €40,525 after one loss-making year.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, 1 in day-to-day management, last change in 2026
Board 1
KST Pharma
CurrentDirector · since 19-05-2026 · Legal entity · perm. rep.: Koen Straetmans
Day-to-day management 1
SODIAP
CurrentManaging director · Legal entity · perm. rep.: Tom Goderis
Permanent representatives 2
Koen Straetmans
CurrentPermanent representative · since 19-05-2026 · for KST Pharma
Tom Goderis
CurrentPermanent representative · for SODIAP
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antoing · 1 establishment unit since 1985
Ground area
558 m²
Building footprint
264 m²
Volume, LiDAR
2,856 m³
2 parcels, Wallonia · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ANTOPHAR
since 19852.184.798.207
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57003A0525/00G000 | Wallonia | 313 m² | 1 · 80 m² | 11.5 m · 3 fl. |
| 57003C0289/00R000 | Wallonia | 245 m² | 1 · 184 m² | 13.5 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.
Mandate history
3 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| KST Pharma |
|
| SODIAP |
|
| Alexo |
|
Structure & network
Part of the group
PHARMACIE BIA
40 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- PHARMACIE BIA
- FEBELCO
- SODIAP
- ANTOPHAR
Highest known parent: PHARMACIE BIA. The sources do not say who stands above it.
Owners 1
- SODIAPparentSourceaccounts SODIAP 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntoing2.184.798.207
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 2,890 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
Founded11-12-1985
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428091979
Registered
06-06-2025
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.