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CONVERT PHARMACEUTICALS

Active
Public limited companyfounded 20179 yrs activeEsplanade Simone VEIL 1, 4000 Liège, BelgiumKBO/BCE: BE 0671.828.631
Summary

The computed 12-month bankruptcy probability of CONVERT PHARMACEUTICALS is 1.9% (moderate). The 2025 annual accounts show negative equity (-€841,823) and a net result of -€629,343. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 239 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
CONVERT PHARMACEUTICALSActiveChecked score 53/100
Risk analysis ReportCompare

Overview

Activity
Other research and development on natural sciences
NACE 72109NACE 72190
1 site
Size
€941,204total assets 2025
Equity
-€841,823
Loss
-€629,343
Financial health
53 Fair Checked score 2025
Bankruptcy chance 12 m
1.9%
Structure
Largest shareholder
NOSHAQ · 23.32%
Board
2 members
Accounts 44 d early2 of 12 deeds read
Why 53- Loss of €629,343, the second in a row (FY 2025)- Negative equity -€841,823- 1 change of registered office in 24 months+ Size: total assets €941,204Show the evidence

Checked score

Score 2025
53 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 36% of its sector peers (NACE 72, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 0=
equity -89.4% of total assets
Liquidity 59-41
short-term debt 29.5% · cash 16.8%
Profitability 0=
return on assets -66.9%
Bankruptcy probability, 12 months
1.9% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (934 companies)
Last 24 months 11-2024: 1.1% 12-2024: 1.2%▲ +5.9% vs 11-2024 01-2025: 1.2%▼ -1.0% vs 12-2024 02-2025: 1.2%● 0.0% vs 01-2025 03-2025: 1.2%▼ -3.4% vs 02-2025 04-2025: 1.1%▼ -1.6% vs 03-2025 05-2025: 1.1%▼ -3.3% vs 04-2025 06-2025: 1.1%▼ -2.8% vs 05-2025 07-2025: 1.1%▲ +4.9% vs 06-2025 08-2025: 0.5%▼ -51.0% vs 07-2025lowest value 09-2025: 1.4%▲ +150% vs 08-2025 10-2025: 1.4%● 0.0% vs 09-2025 11-2025: 1.4%● 0.0% vs 10-2025 12-2025: 1.4%● 0.0% vs 11-2025 01-2026: 1.4%▼ -0.7% vs 12-2025 02-2026: 1.4%▲ +1.8% vs 01-2026 03-2026: 1.3%▼ -3.7% vs 02-2026 04-2026: 1.3%● 0.0% vs 03-2026 05-2026: 1.3%▼ -2.6% vs 04-2026 06-2026: 1.3%▼ -0.1% vs 05-2026 07-2026: 1.9%▲ +48.7% vs 06-2026highest value 08-2026: 1.9%▼ -0.7% vs 07-2026 09-2026: 1.9%● 0.0% vs 08-2026 10-2026: 1.9%● 0.0% vs 09-2026
  • Loss of €629,343, the second in a row (FY 2025) raises the probability
  • Negative equity -€841,823 raises the probability
  • 1 change of registered office in 24 months raises the probability
  • Size: total assets €941,204 lowers the probability for this profile
No credit on open account
Liquidity short (current ratio 0.63 against 10.41 in 2024; short-term debt: 29.5% and cash: 16.8% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 72, micro). Better than this share of them on solvency 6%, liquidity 46%, profitability 10%, growth against the median 79%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €629,343, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Negative equity -€841,823
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
lowers risk · Size: total assets €941,204
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€841,823
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-06-2026, 44 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
44 d early
2024
35 d early
2023
55 d early
2022
53 d early
2021
19 d early
2020
39 d early
2019
32 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 40 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 17 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Permanent representative: Hugues WallemacqReappointment: Brice Van Eeckhout (administrateur…
  2. Appointment: NOSHAQ Partners SRL (director)Power of attorney
  3. Annual accounts filedfiscal year 2025 · full…

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€841,823 View
  • Risk: 6 loss-making years in a rowloss fiscal year 2025 -€629,343 View
  • Caution: Among the weakest 5% on solvencysector median 53.4% · 239 companies -89.4% View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • EU supportawarded 2023 €2.5m View
  • New directorlatest change 31-07-2026 · 2 in office 1 joined View
  • Positive: Equity rose in 2025from -€1.2m to -€841,823 ▲ 27.7% View

By topic

Financials

Fiscal year
2025
Total assets
€941,204
Loss
-€629,343
Solvency
-89.4%
Total assets▼ 22.6%
Net result
20182025
Go to Financials

Timeline

Events
15
Since
2018
Next accounts
by 31-07-2027
  1. 07-09-2026Permanent representative: Hugues Wallemacq
  2. 31-07-2026Appointment: NOSHAQ Partners SRL (director)
  3. 17-06-2026Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Other research and development on natural sciencesNACE 72109
Founded
24-02-2017
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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