Cipla Europe
ActiveThe file of Cipla Europe contains 2 historical bankruptcy publications, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 0.5% (low). The 2025 annual accounts show equity of €3.50M and a net result of €-1.32M. Equity is shrinking by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 11% of 4852 sector peers (fiscal year 2025).
Checked score
Score 2025
40
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability17▲+4
Solvency34▼-3
Growth42▲+1
Track record85
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130k at 30 days only on tighter terms
Liquidity tight (current ratio 1.09 against 1.15 in 2024; short-term debt: 89.1% and cash: 2.3% of total assets), and 91.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 · 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
19202122232425
2019 to 2025 · latest year €-1.32M
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 4852 sector peers (2025).
NBB · sector comparisonPosition among 4852 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 08-10-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
88 d late
2023
50 d late
2022
39 d early
2021
75 d early
2020
68 d early
2019
99 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close21-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€24.78M▲ 15.0%
2024 · €21.55M
2019: €15.04M
2020: €20.92M
2021: €14.32M
2022: €21.11M
2023: €21.20M
2024: €21.55M
2019 → 2025
EBIT margin
-0.9%▲ 2.9pp
2024 · -3.8%
2019: 6.8%
2020: 3.6%
2021: 2.4%
2022: 2.1%
2023: -8.3%
2024: -3.8%
2019 → 2025
Net result
€-1.32M▼ 4.2%
2024 · €-1.27M
2019: €314k
2020: €346k
2021: €332k
2022: €207k
2023: €-2.06M
2024: €-1.27M
2019 → 2025
Working capital
€3.10M▼ 35.1%
2024 · €4.77M
2019: €16.17M
2020: €9.81M
2021: €8.35M
2022: €7.94M
2023: €5.73M
2024: €4.77M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14.32M-€21.11M▲ 47.4%€21.20M▲ 0.4%€21.55M▲ 1.7%€24.78M▲ 15.0%
Equity€7.93M-€8.14M▲ 2.6%€6.08M▼ 25.3%€4.82M▼ 20.8%€3.50M▼ 27.4%
Operating result€349k-€434k▲ 24.4%€-1.76M€-810k▲ 53.9%€-219k▲ 73.0%
Net result€332k-€207k▼ 37.9%€-2.06M€-1.27M▲ 38.4%€-1.32M▼ 4.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €219k in 2025 against €810k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40.76M
Fixed assets
€1.36M▲ 1.6%
Current assets
€39.40M▲ 4.7%
Equity and liabilities €40.76M
Equity
€3.50M▼ 27.4%
Provisions
€378k=
Debt
€36.89M▲ 9.3%
The debt ratio rises from 86.7% to 90.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14k▲
2024 · €-548k
Cash flow
€-1.09M▼
2024 · €-1.01M
Solvency
8.6%▼
2024 · 12.4%
Current ratio
1.09▼
2024 · 1.15
Quick ratio
0.92▼
2024 · 0.95
Debt / equity
10.55▲
2024 · 7.01
ROE
-37.8%▼
2024 · -26.3%
ROA
-3.2%▲
2024 · -3.3%
Interest coverage
0.09▲
2024 · -3.21
Debt
€36.89M▲
2024 · €33.76M
Debt ≤ 1 year
€36.30M▲
2024 · €32.84M
Income taxes
€59k▲
2024 · €14k
Staff costs
€2.78M▲
2024 · €2.19M
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€38.95M€40.76M▲
Fixed assets21/28€1.34M€1.36M▲
Intangible fixed assets21€1.21M€1.24M▲
Tangible fixed assets22/27€30k€28k▼
Plant, machinery and equipment23€28k€27k▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€92k€92k▲
Other financial fixed assets284/8€92k€92k▲
Amounts receivable and cash guarantees285/8€92k€92k▲
Current assets29/58€37.62M€39.40M▲
Stocks and contracts in progress3€6.35M€5.94M▼
Stocks30/36€6.35M€5.94M▼
Goods purchased for resale34€6.35M€5.94M▼
Amounts receivable within one year40/41€31.13M€32.38M▲
Trade receivables40€30.38M€31.92M▲
Other amounts receivable41€742k€456k▼
Cash at bank and in hand54/58€19k€929k▲
Deferred charges and accrued income490/1€118k€153k▲
Equity and liabilities
Total equity and liabilities10/49€38.95M€40.76M▲
Equity10/15€4.82M€3.50M▼
Contributions10/11€7.10M€7.10M=
Capital10€7.10M€7.10M=
Issued capital100€7.10M€7.10M=
Reserves13€110k€110k=
Non-distributable reserves130/1€110k€110k=
Legal reserve130€110k€110k=
Profit (loss) carried forward14€-2.39M€-3.71M▼
Provisions and deferred taxes16€378k€378k=
Provisions for liabilities and charges160/5€378k€378k=
Other liabilities and charges164/5€378k€378k=
Amounts payable17/49€33.76M€36.89M▲
Amounts payable within one year42/48€32.84M€36.30M▲
Financial debts43€3.24M€736k▼
Credit institutions430/8€3.24M€736k▼
Trade debts44€29.28M€34.78M▲
Suppliers440/4€29.28M€34.78M▲
Taxes, remuneration and social security45€318k€783k▲
Taxes450/3-€415k
Remuneration and social security454/9€318k€368k▲
Other amounts payable47/48-€5k
Accrued charges and deferred income492/3€916k€583k▼
Income statement
Code20242025
Operating income70/76A€22.51M€25.16M▲
Turnover70€21.55M€24.78M▲
Other operating income74€953k€382k▼
Non-recurring operating income76A€0-
Operating charges60/66A€23.32M€25.38M▲
Goods for resale, raw materials and consumables60€11.00M€13.16M▲
Purchases600/8€7.54M€13.20M▲
Change in stocks: decrease (increase)609€3.46M€-47k▼
Services and other goods61€9.01M€7.07M▼
Remuneration, social security and pensions62€2.19M€2.78M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€262k€233k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€218k€2.03M▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€0-
Other operating charges640/8€480k€108k▼
Non-recurring operating charges66A€155k€5k▼
Operating profit (loss)9901€-810k€-219k▲
Financial income75/76B€5k€211k▲
Recurring financial income75€5k€211k▲
Income from current assets751-€53
Other financial income752/9€5k€211k▲
Financial charges65/66B€448k€1.25M▲
Recurring financial charges65€448k€1.25M▲
Debt charges650€171k€155k▼
Other financial charges652/9€277k€1.10M▲
Profit (loss) for the period before taxes9903€-1.25M€-1.26M▼
Income taxes67/77€14k€59k▲
Taxes670/3€14k€59k▲
Profit (loss) for the period9904€-1.27M€-1.32M▼
Profit (loss) for the period to be appropriated9905€-1.27M€-1.32M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2.39M€-3.71M▼
Profit (loss) brought forward from the previous period14P€-1.13M€-2.39M▼
The notes to these accounts (45 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 88 days late
2023
20-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 50 days late
31-03
Financial
Weakest financial yearnet €-2.06M ▼1096%
Net result drops to €-2.06M, the lowest in the series; recovery starts the following year.
2022
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Highest result since 2019net €346k ▲10.4%
Net result €346k, the highest in the series.
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
17-10
Bankruptcy
Bankruptcy reversal
Rechtbank van koophandel Antwerpen, afdeling Antwerpen · CIPLA EUROPE NV DE KEYSERLEI 58-60, 2018 ANTWERPEN 1 · event 11-10-2018
10-10
Bankruptcy
Opening
Rechtbank van koophandel Antwerpen, afdeling Antwerpen · CIPLA EUROPE NV DE KEYSERLEI 58-60, 2018 ANTWERPEN 1 · event 04-10-2018
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
19-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 111 days late
2017
18-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 79 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
22 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, Antwerpen · 1 establishment unit since 2013
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.
De Keyserlei 60C2018 AntwerpenGround area
3,154 m²
Building footprint
1,145 m²
Volume, LiDAR
5,558 m³
Parcel 11808H1298/00C000, Flanders · tallest building 51.5 m, ±8 floors. Linked by address, not a title deed.
1 establishment unit
Cipla Europe
since 20132.223.485.765
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1298/00C000 | Flanders | 3,154 m² | 2 · 1,145 m² | 51.5 m · 8 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LOUIS WOUTERS JAN VAN RIJSWIJCKLAAN 1-3,
2018 ANTWERPEN 1 |
04-10-2018 → present |
Similar companies · same sector, comparable size
Bedal International
BE 0841.685.826
Diepenbeek · Eq €3.52M
Revvity
BE 0460.584.308
Lier · Eq €3.45M
MEDIPOST
BE 0429.783.244
Liège · Eq €3.45M
COPPERS
BE 0893.756.713
Sint-Truiden · Eq €3.55M
VERTEX PHARMACEUTICALS (BELGIUM)
BE 0781.749.031
Brussel · Eq €3.43M
Of 1,898 companies in sector 46460 we hold annual accounts for 1,116. 633 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-09-2013
Fiscal year end31-03
Activities, NACEBEL
46460Wholesale of pharmaceutical and medical goods
46150Agents in the wholesale of furniture, household goods and hardware
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.