C.D. PHARMA
ActiveSummary
C.D. PHARMA has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €25,306 and a net result of -€10,408. Equity is shrinking by ~15% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14=
Solvency34▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Liquidity short (current ratio 0.0 against 0.0 in 2024; short-term debt: 90.6% of total assets), and 90.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
9.4%
Return on assets
-3.8%
Age of the figures
10 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€10,408
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 12-05-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
25 d early
2023
47 d early
2022
38 d early
2021
28 d early
2020
54 d early
2019
39 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 40 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€10,408▼ 2.5%
2024 · -€10,158
Working capital
-€244,841▼ 1.7%
2024 · -€240,813
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,261▼ 63.4%-€9,807▼ 5.9%-€10,117▼ 3.2%-€10,124▼ 0.1%-€10,377▼ 2.5%
Net result-€8,810▼ 69.9%-€9,638▼ 9.4%-€10,119▼ 5.0%-€10,158▼ 0.4%-€10,408▼ 2.5%
Equity€65,629▼ 11.8%€55,991▼ 14.7%€45,872▼ 18.1%€35,714▼ 22.1%€25,306▼ 29.1%
Total assets€296,161▲ 1.2%€289,340▼ 2.3%€282,957▼ 2.2%€277,041▼ 2.1%€270,629▼ 2.3%
Debt€230,363▲ 5.9%€233,349▲ 1.3%€237,085▲ 1.6%€241,327▲ 1.8%€245,323▲ 1.7%
Working capital-€229,871▼ 6.4%-€233,298▼ 1.5%-€237,036▼ 1.6%-€240,813▼ 1.6%-€244,841▼ 1.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10,377 in 2025 against €10,124 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €270,629
Fixed assets
€270,147 ▼ 2.3%
Current assets
€482 ▼ 6.2%
Equity and liabilities €270,629
Equity
€25,306 ▼ 29.1%
Debt
€245,323 ▲ 1.7%
Debt's share of the balance-sheet total rises from 87.1% to 90.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€3,996▼
2024 · -€3,743
Cash flow
-€4,027▼
2024 · -€3,777
Current ratio
0.00▼
2024 · 0.00
Debt to equity
9.69▲
2024 · 6.76
ROE
-41.1%▼
2024 · -28.4%
ROA
-3.8%▼
2024 · -3.7%
Interest coverage
-128.90▼
2024 · -110.09
Debt ≤ 1 year
€245,323▲
2024 · €241,327
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,951 | €6,381 | €6,381 | €6,381 | €6,381 | = |
| Other operating charges640/8 | €2,027 | €2,111 | €2,308 | €2,385 | €2,457 | ▲ 3.0% |
| Gross operating margin9900 | -€1,283 | -€1,315 | -€1,428 | -€1,358 | -€1,539 | ▼ 13.3% |
| Operating profit (loss)9901 | -€9,261 | -€9,807 | -€10,117 | -€10,124 | -€10,377 | ▼ 2.5% |
| Financial charges65/66B | €71 | - | €2 | €34 | €31 | ▼ 8.8% |
| Recurring financial charges65 | €71 | - | €2 | €34 | €31 | ▼ 8.8% |
| Profit (loss) for the period before taxes9903 | -€9,332 | -€9,807 | -€10,119 | -€10,158 | -€10,408 | ▼ 2.5% |
| Transfer from deferred taxes780 | €522 | €169 | - | - | - | - |
| Profit (loss) for the period9904 | -€8,810 | -€9,638 | -€10,119 | -€10,158 | -€10,408 | ▼ 2.5% |
| Transfer from tax-exempt reserves789 | €1,015 | €328 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€7,795 | -€9,310 | -€10,119 | -€10,158 | -€10,408 | ▼ 2.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €296,161 | €289,340 | €282,957 | €277,041 | €270,629 | ▼ 2.3% |
| Fixed assets21/28 | €295,669 | €289,289 | €282,908 | €276,527 | €270,147 | ▼ 2.3% |
| Tangible fixed assets22/27 | €110,652 | €104,272 | €97,891 | €91,510 | €85,130 | ▼ 7.0% |
| Land and buildings22 | €110,652 | €104,272 | €97,891 | €91,510 | €85,130 | ▼ 7.0% |
| Financial fixed assets28 | €185,017 | €185,017 | €185,017 | €185,017 | €185,017 | = |
| Current assets29/58 | €492 | €51 | €49 | €514 | €482 | ▼ 6.2% |
| Current investments50/53 | €492 | €51 | €49 | €514 | €482 | ▼ 6.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €296,161 | €289,340 | €282,957 | €277,041 | €270,629 | ▼ 2.3% |
| Equity10/15 | €65,629 | €55,991 | €45,872 | €35,714 | €25,306 | ▼ 29.1% |
| Contributions10/11 | €6,205 | €6,205 | €6,205 | €6,205 | €6,205 | = |
| Reserves13 | €98,022 | €97,694 | €97,694 | €97,694 | €97,694 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €328 | - | - | - | - | - |
| Distributable reserves133 | €95,834 | €95,834 | €95,834 | €95,834 | €95,834 | = |
| Profit (loss) carried forward14 | -€38,598 | -€47,908 | -€58,027 | -€68,185 | -€78,593 | ▼ 15.3% |
| Provisions and deferred taxes16 | €169 | - | - | - | - | - |
| Deferred taxes168 | €169 | - | - | - | - | - |
| Amounts payable17/49 | €230,363 | €233,349 | €237,085 | €241,327 | €245,323 | ▲ 1.7% |
| Amounts payable within one year42/48 | €230,363 | €233,349 | €237,085 | €241,327 | €245,323 | ▲ 1.7% |
| Trade debts44 | €404 | - | - | - | - | - |
| Suppliers440/4 | €404 | - | - | - | - | - |
| Other amounts payable47/48 | €229,959 | €233,349 | €237,085 | €241,327 | €245,323 | ▲ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,810 | -€9,638 | -€10,119 | -€10,158 | -€10,408 | ▼ 2.5% |
| + Depreciation and write-downs630 | €5,951 | €6,381 | €6,381 | €6,381 | €6,381 | = |
| Operating cash flow (approximation) | -€2,859 | -€3,257 | -€3,738 | -€3,777 | -€4,027 | ▼ 6.6% |
| Investment in fixed assets (approximation) | - | -€1 | €0 | €0 | -€1 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-11
Financial
Weakest financial yearnet -€10,408
Net result drops to -€10,408, the lowest in the series.
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
07-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nivelles · 1 establishment unit since 1998
Ground area
693 m²
Building footprint
106 m²
Volume, LiDAR
702 m³
Parcel 25782C0382/00B004, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Allée de la Tour-Renard 15, 1400 Nivelles
since 19982.085.477.135
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0382/00B004 | Wallonia | 693 m² | 1 · 106 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-11-2025 list no shareholders, and no other source names one.
Holdings 1
- Sourceown accounts 30-11-2025Equity €158,824Result -€55199.5%
According to the annual accounts to 30-11-2025 of C.D. PHARMA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded19-09-1997
Fiscal year end30-11
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.