Active BE 0681.988.489Private limited company

Bex Pharma

Broekstraat 28 ·9255 Buggenhout, Belgium· 8 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

Bex Pharma is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €320k and a net result of €30k. Equity is growing by ~15.4% per year across the filed fiscal years. Its solvency ranks better than 29% of 5424 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Key figures

Equity	€320k
Net result	€30k
Better than sector	29%
Active	8 yrs

Financial profile 4 of 5 axes measured · computed by Checked

59 / 100

Mixed profile: strong on stability, weaker on solvency.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 47

Solvency 37

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2017, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview8 NBB filings

Annual accounts filed on 31-03-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~15.4%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

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).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	28.1%	51.8%	better than 29% of 5424 sector peers
Net result	€30k	€53k	better than 41% of 5425 sector peers
Equity	€320k	€622k	better than 36% of 5425 sector peers
Gross operating margin	€85k	€87k	better than 49% of 5421 sector peers
Total assets	€1.14M	€1.54M	better than 41% of 5425 sector peers

Net profit

€30k

-62.9% 20-25

Total assets

€1.14M

-8.0% 20-25

Equity

€320k

-2.8% 20-25

Income taxes

€15k

-40.1% 20-25

Dividends

€39k

+2.4% 20-25

Debt

€817k

-9.9% 20-25

Debt ≤ 1y

€277k

-7.2% 20-25

Debt > 1y

€531k

-11.5% 20-25

Solvency

28.1%

+5.6% 20-25

ROE

9.5%

-61.8% 20-25

ROA

2.7%

-59.7% 20-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€30k	€81k	€48k	€127k	€63k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	€15k	€26k	€9k	€44k	€26k
Dividends	€39k	€39k	€40k	€50k	€800
Total assets	€1.14M	€1.24M	€1.17M	€1.15M	€1.09M
Equity	€320k	€329k	€286k	€271k	€194k
Debt	€817k	€906k	€880k	€877k	€895k
of which ≤ 1y	€277k	€298k	€237k	€175k	€131k
of which > 1y	€531k	€601k	€634k	€701k	€763k
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	28.1%	26.6%	24.5%	23.6%	17.8%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	2.7%	6.6%	4.2%	11.1%	5.8%
ROE	9.5%	24.8%	16.9%	47.0%	32.4%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €946k · 83.2% Current assets €191k · 16.8%

Equity & liabilities

Equity €320k · 28.1% Debt €817k · 71.9%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.14M	€1.24M	€1.17M	€1.15M	€1.09M
Fixed assets	21/28	€946k	€959k	€1.02M	€1.01M	€1.00M
Tangible fixed assets	22/27	€46k	€59k	€18k	€13k	€4k
Financial fixed assets	28	€900k	€900k	€1.00M	€1.00M	€1.00M
Current assets	29/58	€191k	€276k	€148k	€135k	€85k
Amounts receivable within one year	40/41	€154k	€130k	€147k	€128k	€35k
Cash & bank	54/58	€31k	€145k	-	€6k	€49k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.14M	€1.24M	€1.17M	€1.15M	€1.09M
Equity	10/15	€320k	€329k	€286k	€271k	€194k
Contributions / capital	10/11	€19k	€19k	€19k	€12k	€12k
Reserves	13	€301k	€310k	€267k	€259k	€181k
Amounts payable	17/49	€817k	€906k	€880k	€877k	€895k
Amounts payable after one year	17	€531k	€601k	€634k	€701k	€763k
Amounts payable within one year	42/48	€277k	€298k	€237k	€175k	€131k
Trade debts payable within one year	44	€142	€781	€16k	€35k	€42k
Income statement
Gross operating margin	9900	€85k	€103k	€77k	€90k	€83k
Operating result	9901	€68k	€90k	€71k	€86k	€79k
Financial income	75	€5k	€40k	€500	€97k	€23k
Financial charges	65	€28k	€24k	€15k	€11k	€13k
Result before taxes	9903	€46k	€107k	€57k	€171k	€89k
Income taxes	67/77	€15k	€26k	€9k	€44k	€26k
Net result for the period	9904	€30k	€81k	€48k	€127k	€63k
Result to be appropriated	9905	€30k	€81k	€48k	€127k	€63k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	02-10-2017
Status	Active
Postal code	9255

Establishment units 1 location

Bex Pharma

Broekstraat 28, 9255 BuggenhoutHoldings

since 20172.269.793.664

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
42004C0570/00N003	Flanders	477 m²	1 · 157 m²	11.4 m · 3 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 8 events

All 12Financial 4Filings 8

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-03

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €30k ▼62.9%

Net result drops to €30k, the lowest in the series.

02-04

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

29-04

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

07-04

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Highest result since 2020net €127k ▲103%

Net result €127k, the highest in the series.

31-12

Financial Equity above €200kEq €271k ▲39.9%

3 profitable years in a row build equity to €271k.

16-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 16 days late

2021

31-12

Financial Equity above €150kEq €194k ▲47%

2 profitable years in a row build equity to €194k.

12-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

09-08

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 9 days late

2019

24-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

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.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies64210Business and other management consultancy70200Business consulting70220

Names & trade names

Legal nameNL

Bex Pharma

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