Equity
€326,271 from €587,697 in 2017
Equity fell by 44% in 8 years.
BAUPHAR
Lifetime
20 annual accounts with figures on one time axispeak €590,404 (2025)
€590,404▲ 16.8%
peak €340,227 (2021)
€220,648▲ 140%
peak €587,697 (2017)
€326,271▲ 58.7%
€916,536▼ 2.8%
peak 5.6 FTE (2024)
5 FTE▼ 10.7%
Board2 names since 2011
2 directorsADV Pharma and 1 other
Owners2 names in the annual accounts
100%ADV Pharma
Documentsfilings and deeds
19-06-202642 days before the deadline
2025financial year
Gross margin from €505,652 to €590,404Result from €91,747 to €220,648Staff from 5.6 FTE to 5 FTEEquity from €205,623 to €326,271
Key points
from the 2025 annual accountsResult
€220,648 ▲ 140%
The result rose in 2025 from €91,747 to €220,648.
Turnover
≈ €2.1m estimated
The accounts state no turnover.
Debts
€916,536 74% of the balance sheet
Financial debts 19%Suppliers 23%Taxes and wages 6%Other 52%
Of this, €738,983 falls due within a year.
Staff
5 employees on 31-12-2025
In 2025, nobody joined and 1 person left.
Filings
20 annual accounts since 2006
Three of the last ten came late. The 2016 accounts came latest: 44 days after the end of the period.
Checked score
90
Excellent
Financially stronger than 60% of micro companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,271 companies (NACE 47, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%lowest value
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.3%▲ +0.1 percentage points vs 05-2025
07-2025: 0.3%● unchanged vs 06-2025
08-2025: 0.5%▲ +0.2 percentage points vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026highest value
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.2%▼ -0.3 percentage points vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Sector: Retail trade (NACE 47)
lowers risk
Founded in 2005
Figures for financial year 2025 (filed on 19-06-2026)
Size: 5 FTE, total assets €1.2m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 42% of them on solvency, 27% on liquidity, 86% on profitability and 88% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,818 companies had the same profile as BAUPHAR has now. Each dot stands for 10 companies, two years later.
95.1%
were still trading
3.7%
stopped another way
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BAUPHAR itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,818 companies, not a prediction for BAUPHAR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.5 (1.37 in 2024), below the usual 1.5. Short-term debt is 59.5% and cash 8.4% of total assets. 73.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €326,271
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 19-06-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 days early
2024
20 days early
2023
7 days early
2022
25 days early
2021
4 days early
2020
6 days late
2019
8 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- ADV Pharma 100%equity €2.5m (2025) · 2025 annual accounts of ADV Pharma
- ADV PHARMA SRL consolidatesannual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0878246017
2 directors reappointed
Caroline DE VRIESE and SRL ADV PHARMA · Permanent representative: Aline DE VRIESE · SRL ADV PHARMA holds all the shares · Gazette deed
First establishment
Route de Quenast 15, Rebecq
Incorporation
published on 09-01-2006 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BAUPHAR Rebecq | €1.2m | €590,404 | 26.3% | 5 |
| APOTHEEK VAN ALSENOY Kapellen | €1.3m | €578,582 | 28.8% | 4.5 |
| APOTHEEK CANNAERT Bruges | €1.2m | €599,992 | 29.5% | 5.6 |
| APOTHEEK VAN HOECKE Temse | €1.0m | €585,096 | 50.6% | 5.1 |
| PHARMACIE VALERIE VERDINNE Charleroi | €1.1m | €560,844 | 59.8% | 4.9 |
| Apotheek Heungens - Ghyzelings Merelbeke-Melle | €1.5m | €609,459 | 54.0% | 5.5 |
| PHARMACIE DE GIVRY Quévy | €1.3m | €487,695 | 37.4% | 4.4 |
These companies have the same main activity as BAUPHAR: retail sale of pharmaceutical products (NACE 47730). They are comparable in size and age: total assets between €1m and €1.5m, founded between 2001 and 2008.
Official details
Source: KBO- Status
- Active since 22-12-2005Normal situation
- Activity
- Retail sale of pharmaceutical productsNACE 47730
- Joint committee
- 313Pharmacies and pricing offices · annual accounts 2025
- Establishment unit
- 2.151.466.2351430 Rebecq, since 31-01-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2025
Annual accounts 2025
- €1.2m▲ 8.2%
- Employeeson 31-12-2025
- 5▼ 16.7%
- Filing
- Filed on 19-06-2026, 42 days before the end of the filing period
Insights on BAUPHAR
BAUPHAR has existed since 2005. The gross margin grew from €189,195 in 2006 to €590,404 in 2025 and staff from 2 to 5 full-time equivalents.
Solvency rose in 2025 from 17.9% to 26.3% because of the retained profit.
ADV Pharma holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BAUPHAR
- What is the company number of BAUPHAR?
- The company number of BAUPHAR is 0878.246.017. The VAT number is the same number with BE in front: BE 0878.246.017.
- Where is BAUPHAR based?
- The registered office is at Route de Quenast 15, 1430 Rebecq.Company details
- What does BAUPHAR do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of BAUPHAR?
- BAUPHAR is a public limited company (NV).
- When was BAUPHAR founded?
- BAUPHAR was founded on 22-12-2005.
- Is BAUPHAR still active?
- Yes, BAUPHAR is an active enterprise in the KBO register.
- How many employees does BAUPHAR have?
- BAUPHAR had an average of 5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BAUPHAR fall under?
- In its 2025 annual accounts, BAUPHAR states joint committee 313 (Pharmacies and pricing offices).
- What is the turnover of BAUPHAR?
- The turnover in financial year 2025 is ≈ €2.1m. This figure is estimated from the gross margin of €590,404 and 47 comparable companies (NACE 477). It probably lies between €1.6m and €3.3m.
- Is BAUPHAR profitable?
- In financial year 2025, BAUPHAR made a profit of €220,648.
- Where can I find the annual accounts of BAUPHAR?
- BAUPHAR filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BAUPHAR due?
- BAUPHAR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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