Cellistic
ActiveSummary
The computed 12-month bankruptcy probability of Cellistic is 2.5% (moderate). The 2024 annual accounts show negative equity (-€36.5m) and a net result of -€13.6m. Equity is shrinking by ~77.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 89 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.17 against 0.1 in 2023; short-term debt: 192.6% and cash: 0.9% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2024Solvency, return and age of the figures
Solvency
-92.9%
Return on assets
-34.6%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 21
Relative position
BE, all sectors
reference
Manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21)
about 14% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year -€36.5m
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-10-2025, 83 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
83 d late
2023
7 d early
2022
31 d early
2021
54 d late
2020
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 32 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, full schema
In the rankings
#1 fastest grower in Belgium, Manufacturing sector#3 company by total assets in Mont-Saint-Guibert, Manufacturing sector
Turnover
€4.0m
EBIT margin
-265.5%
Net result
-€13.6m▼ 17.4%
2023 · -€11.6m
Working capital
-€62.9m▼ 37.4%
2023 · -€45.8m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€4.0m
Operating result-€3.4m--€1.7m▲ 51.5%-€6.6m▼ 293%-€10.2m▼ 55.0%-€10.7m▼ 4.8%
Net result-€3.5mbelow the sector's middle half--€1.8mbelow the sector's middle half▲ 48.1%-€6.6mbelow the sector's middle half▼ 261%-€11.6mbelow the sector's middle half▼ 74.1%-€13.6mbelow the sector's middle half▼ 17.4%
EBIT margin-265.5%
Equity-€2.9mbelow the sector's middle half--€4.7mbelow the sector's middle half▼ 64.0%-€11.3mbelow the sector's middle half▼ 141%-€22.9mbelow the sector's middle half▼ 102%-€36.5mbelow the sector's middle half▼ 59.2%
Total assets€1.5mbelow the sector's middle half-€1.8mbelow the sector's middle half▲ 18.6%€9.0mwithin the sector's middle half▲ 411%€27.8mwithin the sector's middle half▲ 207%€39.3mwithin the sector's middle half▲ 41.3%
Debt€4.4m-€6.5m▲ 48.5%€20.4m▲ 215%€50.7m▲ 149%€75.7m▲ 49.4%
Working capital-€3.2mbelow the sector's middle half--€5.0mbelow the sector's middle half▼ 58.5%-€17.6mbelow the sector's middle half▼ 250%-€45.8mbelow the sector's middle half▼ 161%-€62.9mbelow the sector's middle half▼ 37.4%
Solvency-192.7%below the sector's middle half--266.3%below the sector's middle half▼ 73.6pp-125.6%below the sector's middle half▲ 140.7pp-82.5%below the sector's middle half▲ 43.1pp-92.9%below the sector's middle half▼ 10.5pp
Current ratio0.27below the sector's middle half-0.22below the sector's middle half▼ 0.050.14below the sector's middle half▼ 0.080.10below the sector's middle half▼ 0.040.17below the sector's middle half▲ 0.07
Return on assets (ROA)-237.5%below the sector's middle half--103.9%below the sector's middle half▲ 133.7pp-73.4%below the sector's middle half▲ 30.4pp-41.6%below the sector's middle half▲ 31.8pp-34.6%below the sector's middle half▲ 7.0pp
Staff (FTE)35.2within the sector's middle half-12.1below the sector's middle half▼ 65.6%24.2within the sector's middle half▲ 100%61.4within the sector's middle half▲ 154%66.7within the sector's middle half▲ 8.6%
above
within
below
the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10.7m in 2024 against €10.2m in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €39.2m
Fixed assets
€26.5m ▲ 16.2%
Current assets
€12.7m ▲ 158%
Key figures and ratios
EBITDA
-€6.0m▲
2023 · -€7.1m
Cash flow
-€8.9m▼
2023 · -€8.4m
Quick ratio
0.15▲
2023 · 0.10
Debt to equity
-2.08▲
2023 · -2.21
Interest coverage
-1.91▲
2023 · -4.51
Debt ≤ 1 year
€75.6m▲
2023 · €50.7m
Income taxes
-€234,285▼
2023 · -€186,747
Staff costs
€7.7m▲
2023 · €6.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 255 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 84% are still going.
- Medium-sized
- negative equity
- a loss of 10% of the balance sheet or more
- without age
5.5%
went bankrupt
6.7%
stopped otherwise
84%
still going
A further 3.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 255 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €16.1m | - |
| Turnover70 | - | - | - | - | €4.0m | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | €184,657 | - |
| Own construction capitalised72 | - | - | - | - | €2.2m | - |
| Other operating income74 | - | - | - | - | €9.7m | - |
| Non-recurring operating income76A | - | €40,000 | - | - | - | - |
| Operating charges60/66A | - | - | - | - | €26.7m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €3.5m | - |
| Purchases600/8 | - | - | - | - | €4.5m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€948,542 | - |
| Services and other goods61 | - | - | - | - | €10.1m | - |
| Remuneration, social security and pensions62 | - | €1.2m | €3.0m | €6.1m | €7.7m | ▲ 26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €237,492 | €673,009 | €2.4m | €3.1m | €4.6m | ▲ 48.3% |
| Other operating charges640/8 | - | €1,137 | €15,786 | €2,056 | €103,249 | ▲ 4,922% |
| Non-recurring operating charges66A | - | €655 | - | €6,670 | €631,989 | ▲ 9,375% |
| Gross operating margin9900 | -€853,305 | €199,751 | -€1.1m | -€922,206 | - | - |
| Operating profit (loss)9901 | -€3.4m | -€1.7m | -€6.6m | -€10.2m | -€10.7m | ▼ 4.8% |
| Financial income75/76B | - | €574 | €2,304 | €2,784 | €56,293 | ▲ 1,922% |
| Recurring financial income75 | €641 | €574 | €2,304 | €2,784 | €56,293 | ▲ 1,922% |
| Income from current assets751 | - | - | - | - | €48,196 | - |
| Other financial income752/9 | - | - | - | - | €8,097 | - |
| Financial charges65/66B | - | €184,416 | €71,105 | €1.6m | €3.2m | ▲ 104% |
| Recurring financial charges65 | €94,955 | €184,416 | €71,105 | €1.6m | €3.2m | ▲ 104% |
| Debt charges650 | - | - | - | - | €3.2m | - |
| Other financial charges652/9 | - | - | - | - | €17,246 | - |
| Profit (loss) for the period before taxes9903 | -€3.5m | -€1.9m | -€6.6m | -€11.7m | -€13.8m | ▼ 17.5% |
| Income taxes67/77 | -€45 | -€17,730 | €2,564 | -€186,747 | -€234,285 | ▼ 25.5% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €234,285 | - |
| Profit (loss) for the period9904 | -€3.5m | -€1.8m | -€6.6m | -€11.6m | -€13.6m | ▼ 17.4% |
| Profit (loss) for the period to be appropriated9905 | -€3.5m | -€1.8m | -€6.6m | -€11.6m | -€13.6m | ▼ 17.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.8m | €9.0m | €27.8m | €39.3m | ▲ 41.3% |
| Formation expenses20 | - | - | €64,575 | €41,631 | €22,516 | ▼ 45.9% |
| Fixed assets21/28 | €305,252 | €333,494 | €6.2m | €22.8m | €26.5m | ▲ 16.2% |
| Intangible fixed assets21 | - | - | €5.1m | €9.4m | €8.4m | ▼ 10.8% |
| Tangible fixed assets22/27 | €285,252 | €313,494 | €1.0m | €13.4m | €18.1m | ▲ 34.8% |
| Plant, machinery and equipment23 | - | €288,506 | €941,454 | €1.3m | €17.8m | ▲ 1,236% |
| Furniture and vehicles24 | - | €24,400 | €98,039 | €169,685 | €275,331 | ▲ 62.3% |
| Other tangible fixed assets26 | - | €588 | €1,463 | €131,401 | €8,776 | ▼ 93.3% |
| Assets under construction and advance payments27 | - | - | - | €11.8m | €0 | ▼ 100% |
| Financial fixed assets28 | €20,000 | €20,000 | €20,000 | €20,000 | €58,200 | ▲ 191% |
| Other financial fixed assets284/8 | - | - | - | - | €58,200 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €58,200 | - |
| Current assets29/58 | €1.2m | €1.4m | €2.8m | €4.9m | €12.7m | ▲ 158% |
| Amounts receivable after more than one year29 | - | €18,740 | €18,740 | €202,272 | €609,507 | ▲ 201% |
| Trade receivables290 | - | - | - | - | €417,817 | - |
| Other amounts receivable291 | - | €18,740 | €18,740 | €202,272 | €191,689 | ▼ 5.2% |
| Stocks and contracts in progress3 | €209,204 | - | - | - | €1.1m | - |
| Stocks30/36 | - | - | - | - | €1.1m | - |
| Raw materials and consumables30/31 | - | - | - | - | €948,542 | - |
| Finished goods33 | - | - | - | - | €184,657 | - |
| Advance payments36 | - | - | - | - | €218 | - |
| Amounts receivable within one year40/41 | €970,002 | €1.3m | €2.6m | €3.6m | €10.3m | ▲ 187% |
| Trade receivables40 | - | €968,588 | €2.0m | €2.7m | €4.7m | ▲ 74.3% |
| Other amounts receivable41 | - | €331,608 | €551,403 | €900,850 | €5.6m | ▲ 522% |
| Cash at bank and in hand54/58 | €6,917 | €108,717 | €158,946 | €878,725 | €334,124 | ▼ 62.0% |
| Deferred charges and accrued income490/1 | - | €8,110 | €75,960 | €271,186 | €390,695 | ▲ 44.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.8m | €9.0m | €27.8m | €39.3m | ▲ 41.3% |
| Equity10/15 | -€2.9m | -€4.7m | -€11.3m | -€22.9m | -€36.5m | ▼ 59.2% |
| Contributions10/11 | €669,333 | €669,333 | €669,333 | €669,333 | €669,333 | = |
| Capital10 | - | €669,333 | €669,333 | €669,333 | €669,333 | = |
| Issued capital100 | - | €669,333 | €669,333 | €669,333 | €669,333 | = |
| Profit (loss) carried forward14 | -€3.5m | -€5.4m | -€12.0m | -€23.6m | -€37.1m | ▼ 57.6% |
| Amounts payable17/49 | €4.4m | €6.5m | €20.4m | €50.7m | €75.7m | ▲ 49.4% |
| Amounts payable within one year42/48 | €4.3m | €6.4m | €20.4m | €50.7m | €75.6m | ▲ 49.2% |
| Trade debts44 | €429,421 | €660,059 | €3.9m | €4.9m | €2.4m | ▼ 50.5% |
| Suppliers440/4 | - | €660,059 | €3.9m | €4.9m | €2.4m | ▼ 50.5% |
| Advances received on contracts in progress46 | - | - | - | - | €105,365 | - |
| Taxes, remuneration and social security45 | - | €92,901 | €803,657 | €1.1m | €1.2m | ▲ 11.0% |
| Taxes450/3 | - | €1,467 | €7,250 | - | - | - |
| Remuneration and social security454/9 | - | €91,434 | €796,407 | €1.1m | €1.2m | ▲ 11.0% |
| Other amounts payable47/48 | - | €5.7m | €15.6m | €44.7m | €71.9m | ▲ 60.9% |
| Accrued charges and deferred income492/3 | - | €33,338 | €23,635 | - | €127,848 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3.5m | -€1.8m | -€6.6m | -€11.6m | -€13.6m | ▼ 17.4% |
| + Depreciation and write-downs630 | €237,492 | €673,009 | €2.4m | €3.1m | €4.6m | ▲ 48.3% |
| Operating cash flow (approximation) | -€3.3m | -€1.2m | -€4.2m | -€8.4m | -€8.9m | ▼ 6.0% |
| Investment in fixed assets (approximation) | - | -€701,251 | -€8.2m | -€19.8m | -€8.3m | ▲ 57.9% |
| Change in cash | - | €101,800 | €50,229 | €719,779 | -€544,601 | ▼ 176% |
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
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 83 days late
2024
31-12
Financial
Weakest financial yearnet -€13.6m
Net result drops to -€13.6m, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
23-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 54 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
8 acts for this company are 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, Mont-Saint-Guibert · 2 establishment units since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Edouard Belin 21435 Mont-Saint-Guibert2 establishment units
Cellistic
since 20202.299.167.541
Rue Edouard Belin 12, 1435 Mont-Saint-Guibert
since 20222.365.228.895
Structure & network
Owners and holdings
1 ownerOwners 1
-
0%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Recognitions · licences · registrations
Legal Entity Identifier
699400QN31HRTMIVEC34
Similar companies · same sector, comparable size
ODYSSEA PHARMA
BE 0892.121.272
Grâce-Hollogne · FTE 62.4
BOIRON
BE 0541.731.340
Evere · FTE 59.7
-HEEL BELGIUM
BE 0400.330.282
Gent · FTE 59.4
Sanico
BE 0404.190.288
Turnhout · FTE 87.1
V.M.D.
BE 0413.622.648
Arendonk · FTE 50.5
Of 148 companies in sector 21201 we hold annual accounts for 118. 58 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
21201Manufacture of basic pharmaceutical products and pharmaceutical preparations
72101Research and development on biotechnology
21100Manufacture of basic pharmaceutical products and pharmaceutical preparations
E-invoicing
Reachable via Peppol
Peppol ID
0208:0740785238
Also
9925:BE0740785238
Registered
27-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.