Cipla Europe
The 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 14% of 187 sector peers (fiscal year 2025).
| Equity | €3.50M |
| Net result | €-1.32M |
| Better than sector | 14% |
| Active | 12 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 8.6% | 41.5% | |
| Net result | €-1.32M | €159k | |
| Equity | €3.50M | €1.10M | |
| Staff costs | €2.78M | €760k | |
| Total assets | €40.76M | €3.17M |
Show 15 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | volledig |
| Revenue | €24.78M |
| EBITDA | €14k |
| Net profit | €-1.32M |
| Cash flow | €-1.09M |
| Staff costs | €2.78M |
| Income taxes | €59k |
| Dividends | - |
| Total assets | €40.76M |
| Equity | €3.50M |
| Debt | €36.89M |
| of which ≤ 1y | €36.30M |
| of which > 1y | - |
| Working capital | €3.10M |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | 1.09 |
| Quick ratio | 0.92 |
| Working capital ratio | 7.6% |
| Solvency | 8.6% |
| Debt / equity | 10.55 |
| Long-term debt ratio | - |
| Interest coverage | 0.09 |
| Gross margin | 46.9% |
| Net margin | -5.3% |
| ROA | -3.2% |
| ROE | -37.8% |
| EBITDA margin | 0.1% |
| Days sales outstanding | 470d |
| Days payable outstanding | 965d |
| Inventory turnover | 2.21 |
| Days inventory (DSI) | 165d |
Full annual accounts (26 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €40.76M |
| Fixed assets | 21/28 | €1.36M |
| Intangible fixed assets | 21 | €1.24M |
| Tangible fixed assets | 22/27 | €28k |
| Financial fixed assets | 28 | €92k |
| Current assets | 29/58 | €39.40M |
| Stocks & contracts in progress | 3 | €5.94M |
| Amounts receivable within one year | 40/41 | €32.38M |
| Cash & bank | 54/58 | €929k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €40.76M |
| Equity | 10/15 | €3.50M |
| Contributions / capital | 10/11 | €7.10M |
| Reserves | 13 | €110k |
| Accumulated profits (losses) | 14 | €-3.71M |
| Provisions & deferred taxes | 16 | €378k |
| Amounts payable | 17/49 | €36.89M |
| Amounts payable within one year | 42/48 | €36.30M |
| Trade debts payable within one year | 44 | €34.78M |
| Income statement | ||
| Turnover | 70 | €24.78M |
| Operating result | 9901 | €-219k |
| Financial income | 75 | €211k |
| Financial charges | 65 | €1.25M |
| Result before taxes | 9903 | €-1.26M |
| Income taxes | 67/77 | €59k |
| Net result for the period | 9904 | €-1.32M |
| Result to be appropriated | 9905 | €-1.32M |
-
Ankit GudhkaManaging directorState Gazette act 24137035 (23-09-2024)Current23-09-2024 → present
-
Anchal SultaníaDirectorState Gazette act 22125336 (20-10-2022)Current20-10-2022 → present
-
Sahid HocineDirectorState Gazette act 22125336 (20-10-2022)Current20-10-2022 → present
Historic, not recently confirmed (5)
-
Adriaan De LeeuwBoard memberState Gazette act 20005431 (08-01-2020)Not recently confirmedlast confirmed in an act from 2020
-
Anca OnofreiBoard memberState Gazette act 20005431 (08-01-2020)Not recently confirmedlast confirmed in an act from 2020
-
Jordi BostoenBoard memberState Gazette act 20005431 (08-01-2020)Not recently confirmedlast confirmed in an act from 2020
-
Tiffany PhilipsBoard memberState Gazette act 20005431 (08-01-2020)Not recently confirmedlast confirmed in an act from 2020
-
Anchal SultanianManaging directorState Gazette act 19106415 (05-08-2019)Not recently confirmedlast confirmed in an act from 2019
2 events
- 05-08-2019 Appointed· Managing director
- 05-08-2019 Appointed· Director
Former directors (8)
-
Saumil CHOGLEManaging directorState Gazette act 23070361 (31-05-2023)Former31-05-2023 → 23-09-2024
2 events
- 23-09-2024 Resigned· Director
- 31-05-2023 Appointed· Managing director
-
Anchal SULTANIADirectorState Gazette act 23070361 (31-05-2023)Former- → 31-05-2023
-
Gillian LathamDirectorState Gazette act 21106260 (06-09-2021)Former01-02-2018 → 20-10-2022
4 events
- 20-10-2022 Resigned· Director
- 06-09-2021 Appointed· Director
- 08-01-2020 Appointed· Board member
- 01-02-2018 Appointed· Director
-
Christos KARTALISManaging directorState Gazette act 18046739 (16-03-2018)Former14-07-2016 → 05-08-2019
4 events
- 05-08-2019 Resigned· Managing director
- 05-08-2019 Resigned· Director
- 16-03-2018 Appointed· Managing director
- 14-07-2016 Appointed· Director
-
Anuj AGGARWALDirectorState Gazette act 16098815 (14-07-2016)Former14-07-2016 → 01-02-2018
2 events
- 01-02-2018 Resigned· Director
- 14-07-2016 Appointed· Director
| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| Grant Thornton Bedrijfsrevisoren BVCurrent Statutory auditor |
- | 20-10-2022 → present |
| Stefaan de ConinckCurrent Statutory auditor |
- | 20-10-2022 → present |
Show 3 earlier auditors
| Grant Thornton Bedrijfsrevisoren Statutory auditor succeeded by Grant Thornton Bedrijfsrevisoren CVBA in 2019 |
- | 05-04-2017 → 05-08-2019 |
| Grant Thornton Bedrijfsrevisoren CVBA Statutory auditor succeeded by Grant Thornton Bedrijfsrevisoren BV in 2022 |
- | 05-08-2019 → 20-10-2022 |
| KPMG BEDRIJFSREVISOREN Statutory auditor |
- | - → 05-04-2017 |
| Role | Name | Tenure | Source |
|---|---|---|---|
| Curator | LOUIS WOUTERS JAN VAN RIJSWIJCKLAAN 1-3,
2018 ANTWERPEN 1 |
04-10-2018 → present | Belgian State Gazette |
| NACE primary | Groothandel in farmaceutische en medische artikelen(46460) |
| Legal form | Public limited company(014) |
| Incorporation | 30-09-2013 |
| Status | Active |
| Postal code | 2018 |
| First BS signal | 10-10-2018 |
| Latest BS signal | 17-10-2018 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1298/00C000 | Flanders | 3,154 m² | 2 · 1,145 m² | 51.5 m · 8 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.
We hold 1 further earlier event in this file, covering 04-10-2018 to 11-10-2018.
We know of 22 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
31-10-2024 Registered office moved within Antwerpen
- De Keyserlei 58-60 bus 19 2018 Antwerpen → De Keyserlei 60C bus 1301 2018 Antwerpen
Technical details
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}14-10-2024 Registered office moved within Antwerpen
- De Keyserlei 58-60, Bus 19, 2018 Antwerpen → De Keyserlei 60, bus 1301, 2018 Antwerpen
Technical details
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"postcode": "2018",
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"effective_date": "2024-09-05",
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],
"notary": {
"name": "Adriaan DE LEEUW",
"firm_city": null,
"firm_name": "Ad-Ministerie BV",
"office_city": "Brussel",
"is_associated": true
},
"act_meta": {
"language": "nl",
"pub_date": "2024-10-14",
"filing_date": "2024-10-02",
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"date": "2024-09-05",
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},
"co_filed_documents": [
"Aanvraag tot wijziging van de inschrijving bij de Kruispuntbank van Ondernemingen",
"Uittreksel uit de schriftelijke besluiten van de Raad van Bestuur"
]
}23-09-2024 1 director appointed, 1 resigning
- Ankit Gudhka, Gedelegeerd bestuurder
- Saumil Chogle, Bestuurder
Technical details
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}13-02-2024 Articles of association amended
Technical details
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}31-05-2023 1 director appointed, 1 resigning
- Saumil CHOGLE, Gedelegeerd bestuurder
- Anchal SULTANIA, Bestuurder
Technical details
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}20-10-2022 4 directors appointed, 1 resigning
- Sahid Hocine, Bestuurder
- Anchal Sultanía, Bestuurder
- Grant Thornton Bedrijfsrevisoren BV, Commissaris
- Stefaan de Coninck, Commissaris
- Gillian Latham, Bestuurder
Technical details
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}06-09-2021 Gillian Latham appointed as director
- Gillian Latham, Bestuurder
Technical details
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}08-01-2020 5 directors appointed
- Gillian Latham, Board member
- Jordi Bostoen, Board member
- Anca Onofrei, Board member
- Tiffany Philips, Board member
- Adriaan De Leeuw, Board member
Technical details
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}05-08-2019 3 directors appointed, 2 resigning
- Anchal Sultanian, Gedelegeerd bestuurder
- Anchal Sultanian, Bestuurder
- Grant Thornton Bedrijfsrevisoren CVBA, Commissaris
- Christos Kartalis, Gedelegeerd bestuurder
- Christos Kartalis, Bestuurder
Technical details
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}16-03-2018 Christos KARTALIS appointed as managing director
- Christos KARTALIS, Gedelegeerd bestuurder
Technical details
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}01-02-2018 1 director appointed, 1 resigning
- Gillian Latham, Bestuurder
- Anuj Aggarwal, Bestuurder
Technical details
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}05-04-2017 1 director appointed, 1 resigning
- Grant Thornton Bedrijfsrevisoren, Commissaris
- KPMG BEDRIJFSREVISOREN, Commissaris
Technical details
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}20-01-2017 Registered office moved from Berchem to Antwerpen
- Uitbreidingstraat 80, 2600 Berchem (Antwerpen) → De Keyserlei 58-60, bus 19, 2018 Antwerpen
Technical details
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"country": "BE",
"postcode": "2018",
"box_number": "19",
"street_number": "58-60",
"locality_suffix": null
},
"old_address": {
"raw": "Uitbreidingstraat 80, 2600 Berchem (Antwerpen)",
"city": "Berchem",
"region": "vlaams_gewest",
"street": "Uitbreidingstraat",
"country": "BE",
"postcode": "2600",
"box_number": null,
"street_number": "80",
"locality_suffix": "(Antwerpen)"
},
"effective_date": "2017-01-09",
"evidence_quote": "De raad van bestuur, - BESLIST om de maatschappelijke zetel van de Vennootschap te verplaatsen van Uitbreidingstraat 80, 2600 Antwerpen, naar De Keyserlei 58-60, bus 19, 2018 Antwerpen, en dit met ingang van 9 januari 2017.",
"region_changed": false,
"is_statute_change": false,
"nationality_change": false,
"old_address_source": "act_body",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "absolute",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": "Mathieu LOQUET",
"firm_city": null,
"firm_name": "Ad-Ministerie BVBA",
"office_city": "Schaarbeek",
"is_associated": true
},
"act_meta": {
"language": "nl",
"pub_date": null,
"filing_date": "2017-01-09",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "raad_van_bestuur",
"date": "2017-01-04",
"unanimous": true
},
"subject_company": {
"kbo": "0539.790.548",
"name_full": "CIPLA EUROPE",
"legal_form": "NV"
},
"publication_proxy": {
"kind": "org",
"org_kbo": "0539.790.548",
"org_name": "Ad-Ministerie BVBA",
"person_name": null,
"org_rep_person_name": "Adriaan de Leeuw",
"person_role_at_subject": null
},
"co_filed_documents": [
"Uittreksel uit de notulen van de vergadering van de raad van bestuur",
"Volmacht aan notaris en vertegenwoordigers"
]
}14-07-2016 2 directors appointed, 2 resigning
- Christos KARTALIS, Bestuurder
- Anuj AGGARWAL, Bestuurder
- Ann DE SMEDT, Bestuurder
- Herman VAN BARNEVELD, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
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},
{
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}
},
{
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}
},
{
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}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0539.790.548",
"name_full": "CIPLA EUROPE"
}
}27-05-2016 Frank PIETERS resigns as director
- Frank PIETERS, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "bestuurder",
"person": {
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}
],
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},
"subject_company": {
"kbo": "0539.790.548",
"name_full": "CIPLA EUROPE"
}
}| Legal nameNL | Cipla Europe |