DEMAPHAR
ActiveSummary
DEMAPHAR has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €875,529 and a net result of €21,018. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 4209 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity ample (current ratio 9.01 against 8.39 in 2024; short-term debt: 9.3% and cash: 0.9% of total assets), and 9.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
90.7%
Return on assets
2.2%
Age of the figures
9 mo
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 12-05-2026, 80 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
80 d early
2024
45 d early
2023
50 d early
2022
52 d early
2021
54 d early
2020
47 d early
2019
18 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 49 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€21,018▲ 13.0%
2024 · €18,592
Working capital
€720,900▲ 5.0%
2024 · €686,361
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€58,968▲ 23.2%€68,447▲ 16.1%€15,975▼ 76.7%-€825€10,926
Net result€47,766▲ 22.9%€57,639▲ 20.7%€28,951▼ 49.8%€18,592▼ 35.8%€21,018▲ 13.0%
Equity€749,330▲ 6.8%€806,968▲ 7.7%€835,919▲ 3.6%€854,511▲ 2.2%€875,529▲ 2.5%
Total assets€822,565▲ 5.7%€883,843▲ 7.4%€937,893▲ 6.1%€947,380▲ 1.0%€965,578▲ 1.9%
Debt€73,236▼ 4.5%€76,875▲ 5.0%€101,974▲ 32.7%€92,868▼ 8.9%€90,049▼ 3.0%
Working capital€567,993▲ 11.2%€636,660▲ 12.1%€668,353▲ 5.0%€686,361▲ 2.7%€720,900▲ 5.0%
Staff (FTE)2=2=2=2=2=
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €10,926 after a loss of €825 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €965,578
Fixed assets
€154,629 ▼ 8.0%
Current assets
€810,949 ▲ 4.1%
Equity and liabilities €965,578
Equity
€875,529 ▲ 2.5%
Debt
€90,049 ▼ 3.0%
Debt's share of the balance-sheet total falls from 9.8% to 9.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24,448▲
2024 · €11,083
Cash flow
€34,539▲
2024 · €30,500
Current ratio
9.01▲
2024 · 8.39
Quick ratio
8.21▲
2024 · 7.57
Debt to equity
0.10▼
2024 · 0.11
ROE
2.4%▲
2024 · 2.2%
ROA
2.2%▲
2024 · 2.0%
Interest coverage
29.59▲
2024 · 21.42
Debt ≤ 1 year
€90,049▼
2024 · €92,868
Income taxes
€8,263▲
2024 · €7,238
Staff costs
€142,267▲
2024 · €138,610
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 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% | 1.6% |
| 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 74% 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 16,986 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4,339 | - | €393 | - | - | - |
| Remuneration, social security and pensions62 | €116,212 | €123,377 | €132,718 | €138,610 | €142,267 | ▲ 2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,016 | €11,028 | €10,804 | €11,907 | €13,522 | ▲ 13.6% |
| Other operating charges640/8 | €3,121 | €3,869 | €3,449 | €3,913 | €3,929 | ▲ 0.4% |
| Gross operating margin9900 | €190,317 | €206,720 | €162,946 | €153,606 | €170,645 | ▲ 11.1% |
| Operating profit (loss)9901 | €58,968 | €68,447 | €15,975 | -€825 | €10,926 | ▲ 1,425% |
| Financial income75/76B | €6,208 | €9,801 | €24,118 | €27,173 | €19,181 | ▼ 29.4% |
| Recurring financial income75 | €6,208 | €9,801 | €24,118 | €27,173 | €19,181 | ▼ 29.4% |
| Financial charges65/66B | €600 | €395 | €422 | €517 | €826 | ▲ 59.7% |
| Recurring financial charges65 | €600 | €395 | €422 | €517 | €826 | ▲ 59.7% |
| Profit (loss) for the period before taxes9903 | €64,577 | €77,852 | €39,671 | €25,831 | €29,281 | ▲ 13.4% |
| Income taxes67/77 | €16,811 | €20,214 | €10,720 | €7,238 | €8,263 | ▲ 14.2% |
| Profit (loss) for the period9904 | €47,766 | €57,639 | €28,951 | €18,592 | €21,018 | ▲ 13.0% |
| Profit (loss) for the period to be appropriated9905 | €47,766 | €57,639 | €28,951 | €18,592 | €21,018 | ▲ 13.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €822,565 | €883,843 | €937,893 | €947,380 | €965,578 | ▲ 1.9% |
| Fixed assets21/28 | €181,336 | €170,308 | €167,566 | €168,151 | €154,629 | ▼ 8.0% |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €181,236 | €170,208 | €167,466 | €168,051 | €154,529 | ▼ 8.0% |
| Land and buildings22 | €174,877 | €166,712 | €161,087 | €152,335 | €143,583 | ▼ 5.7% |
| Plant, machinery and equipment23 | €3,934 | €2,274 | €4,020 | €5,715 | €3,864 | ▼ 32.4% |
| Furniture and vehicles24 | €2,425 | €1,223 | €2,359 | €10,001 | €7,082 | ▼ 29.2% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €641,229 | €713,535 | €770,327 | €779,229 | €810,949 | ▲ 4.1% |
| Stocks and contracts in progress3 | €61,473 | €68,311 | €67,485 | €76,164 | €72,003 | ▼ 5.5% |
| Stocks30/36 | €61,473 | €68,311 | €67,485 | €76,164 | €72,003 | ▼ 5.5% |
| Amounts receivable within one year40/41 | €570,099 | €634,861 | €690,210 | €692,807 | €730,431 | ▲ 5.4% |
| Trade receivables40 | €56,697 | €49,235 | €51,435 | €47,016 | €62,410 | ▲ 32.7% |
| Other amounts receivable41 | €513,402 | €585,626 | €638,775 | €645,791 | €668,021 | ▲ 3.4% |
| Cash at bank and in hand54/58 | €9,656 | €10,363 | €12,632 | €10,258 | €8,515 | ▼ 17.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €822,565 | €883,843 | €937,893 | €947,380 | €965,578 | ▲ 1.9% |
| Equity10/15 | €749,330 | €806,968 | €835,919 | €854,511 | €875,529 | ▲ 2.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €729,330 | €786,968 | €815,919 | €834,511 | €855,529 | ▲ 2.5% |
| Distributable reserves133 | €729,330 | €786,968 | €815,919 | €834,511 | €855,529 | ▲ 2.5% |
| Amounts payable17/49 | €73,236 | €76,875 | €101,974 | €92,868 | €90,049 | ▼ 3.0% |
| Amounts payable within one year42/48 | €73,236 | €76,875 | €101,974 | €92,868 | €90,049 | ▼ 3.0% |
| Trade debts44 | €54,406 | €51,179 | €79,662 | €75,141 | €71,616 | ▼ 4.7% |
| Suppliers440/4 | €54,406 | €51,179 | €79,662 | €75,141 | €71,616 | ▼ 4.7% |
| Taxes, remuneration and social security45 | €18,830 | €25,696 | €22,312 | €17,727 | €18,433 | ▲ 4.0% |
| Taxes450/3 | €3,470 | €9,217 | €5,214 | - | €589 | - |
| Remuneration and social security454/9 | €15,360 | €16,479 | €17,098 | €17,727 | €17,844 | ▲ 0.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,766 | €57,639 | €28,951 | €18,592 | €21,018 | ▲ 13.0% |
| + Depreciation and write-downs630 | €12,016 | €11,028 | €10,804 | €11,907 | €13,522 | ▲ 13.6% |
| Operating cash flow (approximation) | €59,782 | €68,667 | €39,755 | €30,500 | €34,539 | ▲ 13.2% |
| Investment in fixed assets (approximation) | - | €0 | -€8,062 | -€12,492 | €0 | ▲ 100% |
| Change in cash | - | €707 | €2,269 | -€2,374 | -€1,743 | ▲ 26.6% |
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
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Resignation: SRL ALEXO (director)Appointment: SRL KST Pharma (director) · Permanent representative: Koen Straetmans · Reappointment: SRL SODIAP (managing director)6 facts ▸
State Gazette act
Resignation: SRL ALEXO (director)
Appointment: SRL KST Pharma (director) · Permanent representative: Koen Straetmans · Reappointment: SRL SODIAP (managing director)6 facts ▸
- Director resignation, SRL ALEXO (director)
- Director appointment, SRL KST Pharma (director)
- Permanent representative, Koen Straetmans (permanent representative)
- Director reappointment, SRL SODIAP (managing director)
- General meeting, 19-05-2026
- Board meeting, 19-05-2026
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €57,639 ▲20.7%
Operating result €68,447, net result €57,639, both a record.
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €38,865
Net result €38,865 after one loss-making year.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet -€18,278
Net result drops to -€18,278, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, 1 in day-to-day management, last change in 2026
Board 1
SRL KST Pharma
CurrentDirector · since 19-05-2026 · Legal entity · perm. rep.: Koen Straetmans
Day-to-day management 1
SRL SODIAP
CurrentManaging director · Legal entity · perm. rep.: Tom Goderis
Permanent representatives 2
Koen Straetmans
CurrentPermanent representative · since 19-05-2026 · for SRL KST Pharma
Tom Goderis
CurrentPermanent representative · for SRL SODIAP
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mons · 1 establishment unit since 1988
Ground area
231 m²
Building footprint
231 m²
Volume, LiDAR
2,138 m³
Parcel 53019B0441/00G000, Wallonia · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Demaphar
since 19882.036.224.988
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53019B0441/00G000 | Wallonia | 231 m² | 1 · 231 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| SRL KST Pharma |
|
| SRL SODIAP |
|
| Alexo SRL |
|
Structure & network
Part of the group
PHARMACIE BIA
40 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- PHARMACIE BIA
- FEBELCO
- SODIAP
- DEMAPHAR
Highest known parent: PHARMACIE BIA. The sources do not say who stands above it.
Owners 1
- SODIAPparentSourceaccounts SODIAP 2025100%
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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMons2.036.224.988
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,860. 3,110 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-03-1988
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Contact
E-mail
tom.goderis@sodiap.be
Phone
051 33 84 00
Fax
051 33 84 15
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433580102
Registered
06-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.