APOTHEEK PANORAMA BAAL
The computed 12-month bankruptcy probability of APOTHEEK PANORAMA BAAL is 2.0% (moderate). The 2025 annual accounts show negative equity (€-68k) and a net result of €-75k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 11% of 9900 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-68k |
| Net result | €-75k |
| Better than sector | 11% |
| Active | 7 yrs |
Mixed profile: strong on profitability, weaker on health.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -4.8% | 37.6% | |
| Net result | €-75k | €31k | |
| Equity | €-68k | €261k | |
| Gross operating margin | €9k | €227k | |
| Total assets | €1.41M | €793k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €5k | €162k | €125k | €13k | €79k |
| Net profit | €-75k | €35k | €-3k | €-48k | €13k |
| Cash flow | €-28k | €92k | €35k | €-6k | €36k |
| Staff costs | - | €298k | €303k | €283k | €139k |
| Income taxes | - | - | - | €788 | €5k |
| Dividends | - | - | - | - | - |
| Total assets | €1.41M | €2.15M | €2.06M | €2.02M | €2.03M |
| Equity | €-68k | €11k | €-25k | €-22k | €26k |
| Debt | €1.48M | €2.14M | €2.09M | €2.04M | €2.01M |
| of which ≤ 1y | €1.47M | €1.12M | €1.08M | €932k | €896k |
| of which > 1y | - | €1.00M | €1.00M | €1.10M | €1.10M |
| Working capital | €-1.39M | €-345k | €-345k | €-279k | €-268k |
| Employees (FTE) | - | 3.9 | 3.6 | 3.3 | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.05 | 0.69 | 0.68 | 0.70 | 0.70 |
| Quick ratio | 0.05 | 0.49 | 0.48 | 0.49 | 0.45 |
| Working capital ratio | -98.5% | -16.0% | -16.7% | -13.8% | -13.2% |
| Solvency | -4.8% | 0.5% | -1.2% | -1.1% | 1.3% |
| Debt / equity | -21.75 | 200.13 | -84.75 | -92.82 | 77.35 |
| Long-term debt ratio | - | 93.57 | -40.57 | -49.99 | 42.41 |
| Interest coverage | 0.14 | 2.15 | 1.30 | 0.50 | 1.84 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -5.3% | 1.6% | -0.1% | -2.4% | 0.6% |
| ROE | 109.6% | 330.7% | 10.7% | 217.9% | 48.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.41M | €2.15M | €2.06M | €2.02M | €2.03M |
| Fixed assets | 21/28 | €1.34M | €1.37M | €1.33M | €1.37M | €1.40M |
| Tangible fixed assets | 22/27 | €1.34M | €1.37M | €1.33M | €1.37M | €1.40M |
| Current assets | 29/58 | €76k | €775k | €732k | €653k | €628k |
| Stocks & contracts in progress | 3 | - | €221k | €212k | €195k | €223k |
| Amounts receivable within one year | 40/41 | €69k | €313k | €321k | €207k | €378k |
| Cash & bank | 54/58 | €4k | €235k | €189k | €231k | €5k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.41M | €2.15M | €2.06M | €2.02M | €2.03M |
| Equity | 10/15 | €-68k | €11k | €-25k | €-22k | €26k |
| Contributions / capital | 10/11 | €14k | €22k | €22k | €22k | €22k |
| Reserves | 13 | €2k | €4k | €4k | €4k | €4k |
| Accumulated profits (losses) | 14 | €-84k | €-15k | €-51k | €-48k | - |
| Amounts payable | 17/49 | €1.48M | €2.14M | €2.09M | €2.04M | €2.01M |
| Amounts payable after one year | 17 | - | €1.00M | €1.00M | €1.10M | €1.10M |
| Amounts payable within one year | 42/48 | €1.47M | €1.12M | €1.08M | €932k | €896k |
| Trade debts payable within one year | 44 | €17k | €274k | €345k | €309k | €331k |
| Income statement | ||||||
| Gross operating margin | 9900 | €9k | €471k | €431k | €300k | €224k |
| Operating result | 9901 | €-41k | €106k | €87k | €-29k | €55k |
| Financial income | 75 | €3k | €5k | €6k | €7k | €5k |
| Financial charges | 65 | €36k | €76k | €96k | €25k | €43k |
| Result before taxes | 9903 | €-75k | €35k | €-3k | €-47k | €17k |
| Income taxes | 67/77 | - | - | - | €788 | €5k |
| Net result for the period | 9904 | €-75k | €35k | €-3k | €-48k | €13k |
| Result to be appropriated | 9905 | €-75k | €35k | €-3k | €-48k | €13k |
| NACE primary | Retail sale of pharmaceutical products(47730) |
| Legal form | Private limited company(610) |
| Incorporation | 18-03-2019 |
| Status | Active |
| Postal code | 3128 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24006C0426/00F000 | Flanders | 1,357 m² | 1 · 277 m² | 9.9 m · 2 fl. |
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
30-05-2025 All shares are now held by a single shareholder
Technical details
{
"events": [
{
"kind": "eenhoofdigheid_declaration",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"decrease_purpose": null,
"contribution_type": null,
"paid_up_delta_eur": null,
"n_shares_destroyed": null,
"not_yet_called_eur": null,
"merger_new_shares_n": null,
"merger_exchange_ratio": null,
"distribution_amount_eur": null,
"statutory_unavailable_equity_op": null
}
],
"notary": {
"name": "Anthony Bers",
"firm_city": null,
"firm_name": null,
"office_city": "Sint-Truiden",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2025-05-30",
"filing_date": "2025-03-07",
"act_kind_objet": "Statutenwijziging (parti\u00EBle splitsing)"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"act_date": "2025-04-24",
"unanimous": true,
"under_authorized_capital": false,
"underlying_resolution_date": null
},
"bedrijfsrevisor": {
"waived": true,
"firm_kbo": "0433.608.707",
"firm_name": "CALLENS VANDELANOTTE NV",
"ibr_number": null,
"mission_type": "apport_nature",
"individual_name": "Erik Thuysbaert"
},
"subject_company": {
"kbo": "0722.881.513",
"name_full": "A\u0420\u041E\u0422\u041D\u0415\u0415K PANORAMA BAAL",
"legal_form": "B.V.",
"is_foreign_registered": false
},
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": [
"splitsingsvoorstel",
"jaarrekening",
"verslagen van de bestuursorganen",
"controleverslag",
"bijzonder verslag"
],
"shareholders_after": [],
"share_classes_after": []
}| Legal nameNL | APOTHEEK PANORAMA BAAL |