CIEL PHARMA
ActiveThe computed 12-month bankruptcy probability of CIEL PHARMA is 1.7% (moderate). The 2024 annual accounts show equity of €166k and a net result of €15k. Equity is growing by ~39.4% per year across the filed fiscal years. Its solvency ranks better than 30% of 26043 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability38▼-12
Solvency35▲+1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days only on tighter terms
Liquidity short (current ratio 0.67 against 0.74 in 2023; short-term debt: 46.6% of total assets), and 89.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-11-2025, 106 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
106 d late
2023
1 d early
2022
140 d late
2021
116 d late
2020
24 d late
2019
93 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€166k▲ 9.9%
2023 · €151k
2019: €31k
2020: €58k
2021: €74k
2022: €122k
2023: €151k
2019 → 2024
Total assets
€1.62M▼ 8.6%
2023 · €1.77M
2019: €1.23M
2020: €1.24M
2021: €1.26M
2022: €1.29M
2023: €1.77M
2019 → 2024
Net result
€15k▼ 47.5%
2023 · €29k
2019: €25k
2020: €26k
2021: €16k
2022: €48k
2023: €29k
2019 → 2024
Working capital
€-249k▼ 12.0%
2023 · €-222k
2019: €-174k
2020: €-191k
2021: €-229k
2022: €-208k
2023: €-222k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€58k-€74k▲ 28.4%€122k▲ 64.9%€151k▲ 23.3%€166k▲ 9.9%
Operating result€48k-€46k▼ 3.7%€86k▲ 86.2%€50k▼ 41.4%€32k▼ 36.7%
Net result€26k-€16k▼ 37.5%€48k▲ 193%€29k▼ 40.7%€15k▼ 47.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 37% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.62M
Fixed assets
€1.11M▼ 1.9%
Current assets
€505k▼ 20.5%
Equity and liabilities €1.62M
Equity
€166k▲ 9.9%
Debt
€1.45M▼ 10.3%
The debt ratio falls from 91.5% to 89.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50k▼
2023 · €69k
Cash flow
€33k▼
2023 · €47k
Solvency
10.3%▲
2023 · 8.5%
Current ratio
0.67▼
2023 · 0.74
Quick ratio
0.67▼
2023 · 0.74
Debt / equity
8.74▼
2023 · 10.71
ROE
9.0%▼
2023 · 18.9%
ROA
0.9%▼
2023 · 1.6%
Interest coverage
2.22▼
2023 · 3.46
Debt
€1.45M▼
2023 · €1.62M
Debt ≤ 1 year
€755k▼
2023 · €858k
Debt > 1 year
€697k▼
2023 · €760k
Staff costs
€48k▲
2023 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.77M€1.62M▼
Fixed assets21/28€1.13M€1.11M▼
Tangible fixed assets22/27€449k€430k▼
Land and buildings22€439k€425k▼
Plant, machinery and equipment23€9k€5k▼
Furniture and vehicles24€1k-
Financial fixed assets28€685k€682k▼
Current assets29/58€636k€505k▼
Amounts receivable after more than one year29-€397k
Other amounts receivable291-€397k
Amounts receivable within one year40/41€636k€109k▼
Trade receivables40€121k-
Other amounts receivable41€515k€109k▼
Cash at bank and in hand54/58€0-
Deferred charges and accrued income490/1€47-
Equity and liabilities
Total equity and liabilities10/49€1.77M€1.62M▼
Equity10/15€151k€166k▲
Contributions10/11€6k€6k=
Profit (loss) carried forward14€145k€160k▲
Amounts payable17/49€1.62M€1.45M▼
Amounts payable after more than one year17€760k€697k▼
Financial debts170/4€760k€697k▼
Amounts payable within one year42/48€858k€755k▼
Current portion of amounts payable after more than one year42€64k€69k▲
Financial debts43€5k-
Credit institutions430/8€5k-
Trade debts44€30k€79k▲
Suppliers440/4€30k€79k▲
Taxes, remuneration and social security45€51k€100k▲
Taxes450/3€48k€99k▲
Remuneration and social security454/9€3k€1k▼
Other amounts payable47/48€709k€506k▼
Income statement
Code20232024
Remuneration, social security and pensions62€6k€48k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€18k=
Other operating charges640/8€4k€36▼
Gross operating margin9900€79k€99k▲
Operating profit (loss)9901€50k€32k▼
Financial income75/76B€14k€6k▼
Recurring financial income75€14k€6k▼
Financial charges65/66B€20k€23k▲
Recurring financial charges65€20k€23k▲
Profit (loss) for the period before taxes9903€45k€15k▼
Income taxes67/77€16k-
Profit (loss) for the period9904€29k€15k▼
Profit (loss) for the period to be appropriated9905€29k€15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€145k€160k▲
Profit (loss) brought forward from the previous period14P€116k€145k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
14-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 106 days late
2024
31-12
Financial
Weakest financial yearnet €15k ▼47.5%
Net result drops to €15k, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €151k ▲23.3%
5 profitable years in a row build equity to €151k.
18-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 140 days late
2022
31-12
Financial
Highest result since 2019net €48k ▲193%
Operating result €86k, net result €48k, both a record.
31-12
Financial
Equity above €100kEq €122k ▲64.9%
4 profitable years in a row build equity to €122k.
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 116 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
01-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 93 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Brussel · 1 establishment unit since 2018
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.
Louizalaan 2001050 BrusselGround area
1,451 m²
Building footprint
1,103 m²
Volume, LiDAR
23,695 m³
Parcel 21807G0121/00B008, Brussels · tallest building 30.6 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
CIEL PHARMA
since 20182.275.254.269
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0121/00B008 | Brussels | 1,451 m² | 1 · 1,103 m² | 30.6 m · 7 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
PHARMACIE REMILI-BASTIN
BE 0872.727.608
Chapelle-lez-Herlaimont · Eq €166k
VABO PHARMA
BE 0420.027.816
Menen · Eq €166k
PHARMACIE BASILIQUE
BE 0821.770.142
Koekelberg · Eq €166k
VERZELE PHARMA
BE 0896.764.703
Oudenaarde · Eq €166k
Rougeardent SRL
BE 1003.844.684
Liège · Eq €166k
Of 5,222 companies in sector 47730 we hold annual accounts for 3,861. 3,576 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-02-2018
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.