DEPHARM
ActiveSummary
DEPHARM has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €25.30M and a net result of €123k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 95% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▲+28
Solvency100=
Growth57▲+2
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity ample (current ratio 1.63 against 1.5 in 2024; short-term debt: 5.4% and cash: 0.4% of total assets), and 5.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
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
94.6%
Return on assets
0.5%
Age of the figures
9 mo
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 →
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 06-07-2026, 25 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
25 d early
2024
34 d early
2023
21 d early
2022
19 d early
2021
6 d early
2020
2 d early
2019
54 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory accounts
Turnover
€1.24M▲ 6.7%
2024 · €1.17M
2018: €1.78M
2019: €1.93M
2020: €1.20M
2021: €1.17M
2022: €1.07M
2023: €1.23M
2024: €1.17M
2018 → 2025
EBIT margin
14.6%▲ 27.7pp
2024 · -13.1%
2018: 3.1%
2019: 3.2%
2020: 2.7%
2021: 14.7%
2022: -31.6%
2023: 13.8%
2024: -13.1%
2018 → 2025
Net result
€123k▲ 71.3%
2024 · €72k
2018: €34k
2019: €34k
2020: €20k
2021: €104k
2022: €-479k
2023: €21.61M
2024: €72k
2018 → 2025
Working capital
€914k▲ 55.1%
2024 · €589k
2018: €-812k
2019: €-778k
2020: €-758k
2021: €-20.20M
2022: €-20.47M
2023: €613k
2024: €589k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.17M-€1.07M▼ 8.3%€1.23M▲ 14.6%€1.17M▼ 4.9%€1.24M▲ 6.7%
Equity€4.56M-€4.08M▼ 10.5%€25.11M▲ 515%€25.18M▲ 0.3%€25.30M▲ 0.5%
Operating result€172k-€-338k€169k€-152k€182k
Net result€104k-€-479k€21.61M€72k▼ 99.7%€123k▲ 71.3%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €182k after a loss of €152k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26.75M
Fixed assets
€24.39M ▼ 0.8%
Current assets
€2.36M ▲ 34.1%
Equity and liabilities €26.75M
Equity
€25.30M ▲ 0.5%
Debt
€1.45M ▲ 23.5%
Debt's share of the balance-sheet total rises from 4.5% to 5.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€404k▲
2024 · €67k
Cash flow
€346k▲
2024 · €292k
Current ratio
1.63▲
2024 · 1.50
Debt to equity
0.06▲
2024 · 0.05
ROE
0.5%▲
2024 · 0.3%
ROA
0.5%▲
2024 · 0.3%
Interest coverage
21.67▲
2024 · 4.39
Debt ≤ 1 year
€1.45M▲
2024 · €1.17M
Income taxes
€27k▲
2024 · €2k
Staff costs
€1.67M▼
2024 · €1.67M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€26.35M€26.75M▲
Fixed assets21/28€24.59M€24.39M▼
Intangible fixed assets21€2.25M€2.05M▼
Tangible fixed assets22/27€14k€1.52M▲
Land and buildings22-€1.51M
Plant, machinery and equipment23€14k€12k▼
Financial fixed assets28€22.33M€20.82M▼
Affiliated companies280/1€22.33M€20.82M▼
Participating interests280€22.33M€20.82M▼
Current assets29/58€1.76M€2.36M▲
Amounts receivable within one year40/41€1.42M€2.22M▲
Trade receivables40€1.39M€1.90M▲
Other amounts receivable41€27k€315k▲
Current investments50/53€250k-
Other investments51/53€250k-
Cash at bank and in hand54/58€41k€116k▲
Deferred charges and accrued income490/1€53k€30k▼
Equity and liabilities
Total equity and liabilities10/49€26.35M€26.75M▲
Equity10/15€25.18M€25.30M▲
Contributions10/11€1.52M€1.52M=
Reserves13€572k€572k=
Distributable reserves133€572k€572k=
Profit (loss) carried forward14€23.09M€23.21M▲
Amounts payable17/49€1.17M€1.45M▲
Amounts payable within one year42/48€1.17M€1.45M▲
Trade debts44€332k€444k▲
Suppliers440/4€332k€444k▲
Taxes, remuneration and social security45€295k€364k▲
Taxes450/3€82k€51k▼
Remuneration and social security454/9€213k€314k▲
Other amounts payable47/48€547k€641k▲
Accrued charges and deferred income492/3€41€41=
Income statement
Code20242025
Operating income70/76A€3.01M€3.95M▲
Turnover70€1.17M€1.24M▲
Other operating income74€1.84M€2.71M▲
Operating charges60/66A€3.16M€3.77M▲
Services and other goods61€1.26M€1.85M▲
Remuneration, social security and pensions62€1.67M€1.67M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€220k€223k▲
Other operating charges640/8€7k€27k▲
Operating profit (loss)9901€-152k€182k▲
Financial income75/76B€253k€5k▼
Recurring financial income75€253k€5k▼
Income from current assets751€249k-
Other financial income752/9€4k€5k▲
Financial charges65/66B€27k€37k▲
Recurring financial charges65€27k€37k▲
Debt charges650€15k€19k▲
Other financial charges652/9€12k€19k▲
Profit (loss) for the period before taxes9903€74k€150k▲
Income taxes67/77€2k€27k▲
Taxes670/3€2k€27k▲
Profit (loss) for the period9904€72k€123k▲
Profit (loss) for the period to be appropriated9905€72k€123k▲
Appropriation of the result
Profit (loss) to be appropriated9906€23.09M€23.21M▲
Profit (loss) brought forward from the previous period14P€23.02M€23.09M▲
Social balance
Average headcount (FTE)908714.513.6▼
The notes to these accounts (46 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
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Back to profitnet €21.61M
Net result €21.61M after one loss-making year.
31-12
Financial
Liquidity times 10current ratio 1.28
Current ratio from 0.12 to 1.28; short-term debt falls from €23.33M to €2.16M.
31-12
Financial
Equity above €25MEq €25.11M ▲515%
Equity rises from €4.08M to €25.11M.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-479k ▼562%
Net result drops to €-479k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-11
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated
23-11
NBB filing
Annual accounts filed
fiscal year 2019 · consolidated · 54 days late
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 54 days late
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · consolidated · 364 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
20 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, Wavre · 2 establishment units since 1992
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.
Rue du Manil 801301 WavreGround area
4.1 ha
Building footprint
1.5 ha
Volume, LiDAR
161,387 m³
2 parcels, Wallonia · tallest building 12.6 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
DEPHARM SA
since 19922.055.707.736
Will Pharma - Warehouse Europe
since 20122.212.117.266
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006C0333/00P000 | Wallonia | 2.4 ha | 1 · 1.4 ha | 12.6 m · 4 fl. |
| 25112L0382/00A000 | Wallonia | 1.7 ha | 1 · 296 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteWavre2.212.117.266
Legal Entity Identifier
2549002AL2QIKBX51S26
Similar companies · same sector, comparable size
EUMEDICA
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SONOVA BELGIUM
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MEDIGROUP
BE 0826.773.857
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POLLET MEDICAL GROUP
BE 0718.614.107
Koekelare · Eq €23.45M
INTUITIVE SURGICAL
BE 0895.042.952
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Of 1,898 companies in sector 46460 we hold annual accounts for 1,116. 294 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-12-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.