BPHARMA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 13 filings
Turnover
≈ €180,000
Estimated: probably between €93,000 and €310,000
EBIT margin
Not included in this filing
Net result
€101,700▲ 50.0%
2024 · €67,790
Working capital
-€93,891▲ 1.1%
2024 · -€94,900
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€31,842
▲ 12.6%
2025
20182025
Net result
€101,700
▲ 50.0%
2025
highest quarter of the sector
20182025
Equity
€536,490
▲ 23.4%
2025
highest quarter of the sector
20182025
Total assets
€1.2m
▼ 0.8%
2025
highest quarter of the sector
20182025
Debt
€705,707
▼ 13.6%
2025
20182025
Working capital
-€93,891
▲ 1.1%
2025
lowest quarter of the sector
20182025
Solvency
43.2%
▲ 8.5pp
2025
middle half of the sector
20182025
Current ratio
0.19
▼ 0.08
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
8.2%
▲ 2.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.02m-€0.003m▼ 80.7%€0.04m▲ 13×€0.04m▼ 9.1%€0.04m▲ 7.5%€0.04m▼ 2.2%€0.03m▼ 28.4%€0.03m▲ 12.6%
Net result€0.01m--€0.003m€0.1mabove the sector's middle half€0.04mabove the sector's middle half▼ 68.0%€0.05mabove the sector's middle half▲ 28.6%€0.09mabove the sector's middle half▲ 70.3%€0.07mabove the sector's middle half▼ 22.2%€0.1mabove the sector's middle half▲ 50.0%
Equity€0.08m-€0.07m▼ 3.8%€0.2mabove the sector's middle half▲ 167%€0.2mabove the sector's middle half▲ 20.0%€0.3mabove the sector's middle half▲ 21.4%€0.4mabove the sector's middle half▲ 30.1%€0.4mabove the sector's middle half▲ 15.3%€0.5mabove the sector's middle half▲ 23.4%
Total assets€0.1m-€1.6m▲ 13×€1.2mabove the sector's middle half▼ 21.6%€1.2mabove the sector's middle half▼ 0.2%€1.2mabove the sector's middle half▼ 0.5%€1.2mabove the sector's middle half▲ 2.3%€1.3mabove the sector's middle half▲ 0.3%€1.2mabove the sector's middle half▼ 0.8%
Debt€0.04m-€1.5m▲ 38×€1.0m▼ 31.0%€1.0m▼ 4.1%€0.9m▼ 5.9%€0.9m▼ 6.3%€0.8m▼ 6.2%€0.7m▼ 13.6%
Working capital€0.07m--€0.3m-€0.05mbelow the sector's middle half▲ 83.9%-€0.07mbelow the sector's middle half▼ 22.6%-€0.07mbelow the sector's middle half▼ 2.5%-€0.06mbelow the sector's middle half▲ 14.6%-€0.09mbelow the sector's middle half▼ 62.9%-€0.09mbelow the sector's middle half▲ 1.1%
Solvency66.3%-4.8%▼ 61.6pp16.2%within the sector's middle half▲ 11.4pp19.5%within the sector's middle half▲ 3.3pp23.8%within the sector's middle half▲ 4.3pp30.2%within the sector's middle half▲ 6.4pp34.7%within the sector's middle half▲ 4.5pp43.2%within the sector's middle half▲ 8.5pp
Current ratio3.28-0.30▼ 2.980.26below the sector's middle half▼ 0.040.23below the sector's middle half▼ 0.030.19below the sector's middle half▼ 0.040.33below the sector's middle half▲ 0.150.27below the sector's middle half▼ 0.060.19below the sector's middle half▼ 0.08
Return on assets (ROA)9.6%--0.2%▼ 9.8pp10.1%within the sector's middle half▲ 10.3pp3.2%within the sector's middle half▼ 6.9pp4.2%within the sector's middle half▲ 1.0pp7.0%within the sector's middle half▲ 2.8pp5.4%within the sector's middle half▼ 1.6pp8.2%within the sector's middle half▲ 2.8pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 13% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.2m ▲ 0.3%
Current assets
€21,512 ▼ 38.8%
Equity and liabilities €1.2m
Equity
€536,490 ▲ 23.4%
Debt
€705,707 ▼ 13.6%
Debt's share of the balance-sheet total falls from 65.3% to 56.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,726▲
2024 · €29,810
Cash flow
€104,585▲
2024 · €69,324
Debt to equity
1.32▼
2024 · 1.88
ROE
19.0%▲
2024 · 15.6%
Interest coverage
3.39▲
2024 · 2.62
Debt ≤ 1 year
€115,402▼
2024 · €130,028
Debt > 1 year
€589,681▼
2024 · €686,940
Income taxes
€5,793▲
2024 · €4,781
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €15,343 | - | €6,941 |
| Depreciation and write-downs of the year | €2,601 | €2,601 | €782 | €1,534 | €2,884 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,674 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,572 | €3,202 | €2,762 | €2,601 | €2,601 | €782 | €1,534 | €2,884 | ▲ 88.0% |
| Other operating charges640/8 | - | - | - | €1,525 | €928 | €1,085 | €1,036 | €1,069 | ▲ 3.2% |
| Gross operating margin9900 | €23,424 | €9,013 | €46,475 | €41,687 | €43,891 | €41,353 | €30,846 | €35,795 | ▲ 16.0% |
| Operating profit (loss)9901 | €16,075 | €3,099 | €41,324 | €37,560 | €40,363 | €39,486 | €28,276 | €31,842 | ▲ 12.6% |
| Financial income75/76B | - | - | - | €25,000 | €34,700 | €72,304 | €55,688 | €85,902 | ▲ 54.3% |
| Recurring financial income75 | €83 | €71 | €105,000 | €25,000 | €34,700 | €72,304 | €55,688 | €85,902 | ▲ 54.3% |
| Financial charges65/66B | - | - | - | €13,616 | €12,874 | €12,118 | €11,393 | €10,251 | ▼ 10.0% |
| Recurring financial charges65 | €383 | €5,824 | €16,505 | €13,616 | €12,874 | €12,118 | €11,393 | €10,251 | ▼ 10.0% |
| Profit (loss) for the period before taxes9903 | €15,774 | -€2,654 | €129,819 | €48,944 | €62,188 | €99,672 | €72,571 | €107,493 | ▲ 48.1% |
| Income taxes67/77 | €4,580 | €318 | €5,405 | €9,133 | €11,002 | €12,505 | €4,781 | €5,793 | ▲ 21.2% |
| Profit (loss) for the period9904 | €11,194 | -€2,972 | €124,413 | €39,811 | €51,187 | €87,166 | €67,790 | €101,700 | ▲ 50.0% |
| Profit (loss) for the period to be appropriated9905 | €11,194 | -€2,972 | €124,413 | €39,811 | €51,187 | €87,166 | €67,790 | €101,700 | ▲ 50.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.1m | €1.6m | €1.2m | €1.2m | €1.2m | €1.2m | €1.3m | €1.2m | ▼ 0.8% |
| Fixed assets21/28 | €0.01m | €1.4m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | ▲ 0.3% |
| Tangible fixed assets22/27 | €0.01m | €0.008m | €0.005m | €0.003m | - | €0.01m | €0.01m | €0.02m | ▲ 31.1% |
| Furniture and vehicles24 | - | - | - | €0.003m | - | - | - | €0.006m | - |
| Other tangible fixed assets26 | - | - | - | - | - | €0.01m | €0.01m | €0.01m | ▼ 11.8% |
| Financial fixed assets28 | €25 | €1.4m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €0.1m | €0.1m | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | €0.02m | ▼ 38.8% |
| Amounts receivable within one year40/41 | €0.01m | €0.005m | €0.009m | - | €0.001m | €0.01m | €0.01m | €0.003m | ▼ 73.1% |
| Trade receivables40 | - | - | - | - | - | €211 | €0 | - | - |
| Other amounts receivable41 | - | - | - | - | €0.001m | €0.01m | €0.01m | €0.003m | ▼ 73.1% |
| Cash at bank and in hand54/58 | €0.09m | €0.1m | €0.005m | €0.02m | €0.01m | €0.01m | €0.02m | €0.01m | ▼ 26.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | ▲ 1.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.1m | €1.6m | €1.2m | €1.2m | €1.2m | €1.2m | €1.3m | €1.2m | ▼ 0.8% |
| Equity10/15 | €0.08m | €0.07m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 23.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.05m | €0.1m | €0.2m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €0.06m | €0.06m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | ▲ 35.3% |
| Amounts payable17/49 | €0.04m | €1.5m | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.7m | ▼ 13.6% |
| Amounts payable after more than one year17 | €0.007m | €1.0m | €1.0m | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | ▼ 14.2% |
| Financial debts170/4 | - | - | - | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | ▼ 14.2% |
| Amounts payable within one year42/48 | €0.03m | €0.5m | €0.07m | €0.09m | €0.08m | €0.09m | €0.1m | €0.1m | ▼ 11.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.07m | €0.1m | €0.1m | ▲ 0.7% |
| Trade debts44 | €0.005m | €0.004m | €0.001m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 3.9% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 3.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.01m | €0.009m | €0.009m | €0.002m | ▼ 72.1% |
| Taxes450/3 | - | - | - | €0.007m | €0.01m | €0.008m | €0.009m | €0.002m | ▼ 72.1% |
| Remuneration and social security454/9 | - | - | - | - | €0.001m | €0.001m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €0.01m | - | - | €0.01m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0.001m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | -€0.003m | €0.1m | €0.04m | €0.05m | €0.09m | €0.07m | €0.1m | ▲ 50.0% |
| + Depreciation and write-downs630 | €0.005m | €0.003m | €0.003m | €0.003m | €0.003m | €0.001m | €0.002m | €0.003m | ▲ 88.0% |
| Operating cash flow (approximation) | €0.02m | €230 | €0.1m | €0.04m | €0.05m | €0.09m | €0.07m | €0.1m | ▲ 50.9% |
| Investment in fixed assets (approximation) | - | -€1.4m | €0.2m | €0 | €0 | -€0.02m | €0 | -€0.007m | - |
| Change in cash | - | €0.05m | -€0.1m | €0.01m | -€0.005m | €0.003m | €0.005m | -€0.005m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00298531 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00274785 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00213126 | |
| 31-12-2022 | micro format | 19-07-2023 | 2023-00264856 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20187599 | |
| 31-12-2020 | micro format | 08-07-2021 | 2021-33200196 | |
| 31-12-2019 | full format | 27-08-2020 | 2020-48300510 | |
| 31-12-2018 | full format | 29-08-2019 | 2019-60900071 | |
| 31-12-2017 | full format | 28-08-2018 | 2018-53600163 | |
| 31-12-2016 | full format | 25-08-2017 | 2017-49500069 |