Result
€24,902 €24,902
Back in profit in 2025, after a loss of €47,254 in 2024.
BRUGAFAR
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €468,059 (2022)
€340,822▲ 6.5%
lowest -€47,254 (2024)
€24,902▲ €72,156
peak €512,426 (2023)
€490,074▲ 5.4%
€690,424▼ 7.4%
peak 5.3 FTE (2024)
4.4 FTE▼ 17.0%
Board2 names since 2021
2 directorsVan de Velde - Matthijs BV and 1 other
Owners
99.94%Van de Velde - Matthijs
Documentsfilings and deeds
31-08-202631 days late
2025financial year
Back to profit: €24,902Staff from 5.3 FTE to 4.4 FTE
Key points
from the 2025 annual accountsChecked score
90
Excellent
Financially stronger than 52% 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 40,275 companies (NACE 47, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.2%▼ -0.1 percentage points vs 12-2024
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: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%▲ +0.1 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.4 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.5 percentage points vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
lowers risk
Founded in 1998
Liquidity: current ratio 1.91, cash €214,068
Equity €490,074 (41.5% of total assets)
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 57% of them on solvency, 64% on liquidity, 37% on profitability and 52% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 17,041 companies had the same profile as BRUGAFAR has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BRUGAFAR 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 17,041 companies, not a prediction for BRUGAFAR. 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 €40,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.91 (1.79 in 2024), above the usual 1.5. Short-term debt is 34.5% and cash 18.1% of total assets. However, 58.5% 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
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
28 days early
2023
27 days late
2022
31 days late
2021
31 days late
2020
31 days late
2019
27 days late
← 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 21 days after 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 31 August (4 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
VD
Van de Velde Joost
Director
- Van de Velde - Matthijs 99.94%equity €1.4m (2025) · 2025 annual accounts of Van de Velde - Matthijs
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0462671192
First establishment
Apotheek Katrien Matthijs nv, Albert I laan 135, Nieuwpoort
Incorporation
published on 27-02-1998 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BRUGAFAR Nieuwpoort | €1.2m | €340,822 | 41.5% | 4.4 |
| Pharmacie Tilman Assesse Assesse | €1.1m | €362,166 | 9.1% | 4 |
| APOTHEEK LENSSEN Houthalen-Helchteren | €1.1m | €314,473 | 29.5% | 3.9 |
| MILLENIUM PHARMA Ganshoren | €1.1m | €423,867 | 25.1% | 4.3 |
| APOTHEEK ST-JORIS Tielt-Winge | €1.1m | €396,044 | 6.4% | 4.1 |
| Apoteek Bilcke Kapelle-op-den-Bos | €1.1m | €333,896 | 79.7% | 4.7 |
| APOTHEEK DRONGEN Ghent | €1.0m | €301,663 | -18.6% | 3.7 |
These companies have the same main activity as BRUGAFAR: retail sale of pharmaceutical products (NACE 47730). They are comparable in size and age: total assets between €1m and €1.1m, founded between 1990 and 2001.
Official details
Source: KBO- Status
- Active since 16-02-1998Normal situation
- Activity
- Retail sale of pharmaceutical productsNACE 47730
- Joint committee
- 313Pharmacies and pricing offices · annual accounts 2024
- Establishment unit
- 2.086.739.5218620 Nieuwpoort, since 13-05-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 22-09-2025
Annual accounts 2025
- ≈ €1.2mestimated
- €1.2m▼ 2.5%
- Employeeson 31-12-2025
- 5▼ 28.6%
- Filing
- Filed on 31-08-2026
Insights on BRUGAFAR
BRUGAFAR has existed since 1998. The present size dates from 2012. The gross margin rose that year from €73,420 to €185,330 and staff from 0.6 to 1.3 full-time equivalents.
Van de Velde - Matthijs 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 BRUGAFAR
- What is the company number of BRUGAFAR?
- The company number of BRUGAFAR is 0462.671.192. The VAT number is the same number with BE in front: BE 0462.671.192.
- Where is BRUGAFAR based?
- The registered office is at Albert I laan 135, 8620 Nieuwpoort.Company details
- What does BRUGAFAR do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of BRUGAFAR?
- BRUGAFAR is a public limited company (NV).
- When was BRUGAFAR founded?
- BRUGAFAR was founded on 16-02-1998.
- Is BRUGAFAR still active?
- Yes, BRUGAFAR is an active enterprise in the KBO register.
- How many employees does BRUGAFAR have?
- BRUGAFAR had an average of 4.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BRUGAFAR fall under?
- In its 2024 annual accounts, BRUGAFAR states joint committee 313 (Pharmacies and pricing offices).
- What is the turnover of BRUGAFAR?
- The turnover in financial year 2025 is ≈ €1.2m. This figure is estimated from the gross margin of €340,822 and 47 comparable companies (NACE 477). It probably lies between €930,000 and €1.9m.
- Is BRUGAFAR profitable?
- In financial year 2025, BRUGAFAR made a profit of €24,902.
- Where can I find the annual accounts of BRUGAFAR?
- BRUGAFAR filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BRUGAFAR due?
- BRUGAFAR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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