DEVAPHAR
Judicial reorganisationSummary
The file of DEVAPHAR contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2024 annual accounts show equity of €654,190 and a net result of €49,077. Equity is growing by ~27.3% per year across the filed fiscal years. Its solvency ranks better than 57% of 26064 sector peers (fiscal year 2024).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Opened
- 26 May 2026
- Track
- Reorganisation by collective agreement
- Docket number
- 20260109
- Moratorium until
- 23 September 2026 (passed; an extension would be in a later judgment)
- Creditors' vote
- 9 September 2026
- Delegated judge
- Cedric Van Zeeland
- Official Gazette
- 02-06-2026 (pdf) ↗search the document for 2026/123124
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Activity
Retail sale of pharmaceutical products
NACE 47730Warehousing and support activities for transportation NACE 52310
2 sites
Size
€1.6mtotal assets 2024
- Equity
- €654,190
- Profit
- €49,077
Financial health
24
Critical
Checked score 2024Reorganisation running: about 1 in 4 bankrupt within the year
Structure
Accounts 67 d overdue0 of 5 deeds read
Why 24- In judicial reorganisation- Filed more than 90 days lateShow the evidence
Checked score
Score 2024
24
/ 100
Critical
Without a bankruptcy probability: score from the figures alone
An ongoing judicial reorganisation from the Belgian State Gazette caps the score at 24. Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency
65+6
equity 40.2% of total assets
Liquidity
19+3
short-term debt 59.8% · cash 0.4%
Profitability
51-23
return on assets 3.0%
Bankruptcy probability, 12 months
Judicial reorganisation
About 1 in 4 comparable companies went bankrupt within the year
A judicial reorganisation is open: we then compute no probability from the figures. Measured over every Belgian company in an open or failed reorganisation: 25% to 26% bankrupt within twelve months (2024 and 2025).
No credit on open account during an ongoing judicial reorganisation
Liquidity tight (current ratio 1.48 against 1.27 in 2023; short-term debt: 59.8% and cash: 0.4% of total assets), and 59.8% of the assets are financed with debt.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-11-2025, 106 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
106 d late
2023
1 d early
2022
140 d late
2021
116 d late
2020
31 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 81 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
- OpeningTribunal de l’entreprise francophone de…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€49,077▼ 27.7%
2023 · €67,885
Working capital
€464,186▲ 48.3%
2023 · €313,099
Trend over the years
2020 to 2024, 5 fiscal years 2018 to 2024, 7 fiscal years
The operating result has fallen two years in a row; 2024 is 42% below 2023 and is the lowest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result€0.08m
2024
Net result€0.05m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.6m
2024
Equity€0.7m
2024
Debt€1.0m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.5m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)3.0%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency40.2%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.48
2024
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€0.05m-€0.04m▼ 21.0%€0.1m▲ 215%€0.1m▲ 17.5%€0.2m▲ 58.9%€0.1m▼ 41.2%€0.08m▼ 42.4%
Net result€0.03m-€0.02m▼ 33.8%€0.09mabove the sector's middle half▲ 304%€0.09mwithin the sector's middle half▲ 7.5%€0.2mabove the sector's middle half▲ 73.8%€0.07mabove the sector's middle half▼ 57.3%€0.05mabove the sector's middle half▼ 27.7%
Equity€0.2m-€0.2m▲ 11.6%€0.3mabove the sector's middle half▲ 42.1%€0.4mwithin the sector's middle half▲ 31.8%€0.5mabove the sector's middle half▲ 42.0%€0.6mabove the sector's middle half▲ 12.6%€0.7mabove the sector's middle half▲ 8.1%
Total assets€0.3m-€0.4m▲ 33.4%€0.7mabove the sector's middle half▲ 53.6%€0.7mwithin the sector's middle half▲ 10.8%€1.1mabove the sector's middle half▲ 56.6%€1.8mabove the sector's middle half▲ 56.6%€1.6mabove the sector's middle half▼ 8.0%
Debt€0.1m-€0.2m▲ 62.1%€0.4m▲ 64.2%€0.3m▼ 5.8%€0.6m▲ 72.7%€1.2m▲ 96.4%€1.0m▼ 16.4%
Working capital€0.2m-€0.2m▲ 10.9%€0.2mabove the sector's middle half▲ 19.9%€0.3mwithin the sector's middle half▲ 22.5%€0.4mabove the sector's middle half▲ 42.6%€0.3mabove the sector's middle half▼ 19.7%€0.5mabove the sector's middle half▲ 48.3%
Solvency57.0%-47.7%▼ 9.3pp44.1%within the sector's middle half▼ 3.6pp52.5%within the sector's middle half▲ 8.4pp47.6%within the sector's middle half▼ 4.9pp34.2%within the sector's middle half▼ 13.4pp40.2%within the sector's middle half▲ 6.0pp
Current ratio3.49-2.10▼ 1.391.69within the sector's middle half▼ 0.421.85within the sector's middle half▲ 0.161.67within the sector's middle half▼ 0.181.27within the sector's middle half▼ 0.401.48within the sector's middle half▲ 0.21
Return on assets (ROA)10.0%-5.0%▼ 5.0pp13.1%within the sector's middle half▲ 8.1pp12.7%above the sector's middle half▼ 0.4pp14.1%above the sector's middle half▲ 1.4pp3.8%within the sector's middle half▼ 10.2pp3.0%within the sector's middle half▼ 0.8pp
Staff (FTE)2.3
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.6m
Fixed assets
€190,004 ▼ 34.9%
Current assets
€1.4m ▼ 2.7%
Equity and liabilities €1.6m
Equity
€654,190 ▲ 8.1%
Debt
€972,263 ▼ 16.4%
Debt's share of the balance-sheet total falls from 65.8% to 59.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€106,665▼
2023 · €161,279
Cash flow
€75,720▼
2023 · €90,170
Quick ratio
1.29▲
2023 · 1.10
Debt to equity
1.49▼
2023 · 1.92
ROE
7.5%▼
2023 · 11.2%
Interest coverage
3.45▼
2023 · 6.79
Debt ≤ 1 year
€972,263▼
2023 · €1.2m
Staff costs
€123,419▲
2023 · €122,197
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €3,430 | - |
| Remuneration, social security and pensions62 | - | - | - | €38,261 | €71,774 | €122,197 | €123,419 | ▲ 1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,111 | €19,223 | €18,458 | €29,900 | €34,042 | €22,285 | €26,643 | ▲ 19.6% |
| Other operating charges640/8 | - | - | - | €940 | €42,704 | €32,243 | €15,904 | ▼ 50.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €16,272 | - |
| Gross operating margin9900 | €73,756 | €64,355 | €175,837 | €217,699 | €384,708 | €315,719 | €262,261 | ▼ 16.9% |
| Operating profit (loss)9901 | €50,763 | €40,096 | €126,421 | €148,599 | €236,187 | €138,994 | €80,022 | ▼ 42.4% |
| Financial income75/76B | - | - | - | - | €24,109 | €3,760 | €12 | ▼ 99.7% |
| Recurring financial income75 | €775 | €297 | - | - | €24,109 | €3,760 | €12 | ▼ 99.7% |
| Financial charges65/66B | - | - | - | €13,233 | €19,544 | €23,743 | €30,957 | ▲ 30.4% |
| Recurring financial charges65 | €4,615 | €5,357 | €7,361 | €13,233 | €19,544 | €23,743 | €30,957 | ▲ 30.4% |
| Profit (loss) for the period before taxes9903 | €46,923 | €35,037 | €119,060 | €135,366 | €240,752 | €119,011 | €49,077 | ▼ 58.8% |
| Income taxes67/77 | €15,149 | €14,008 | €34,057 | €43,995 | €81,913 | €51,125 | - | - |
| Profit (loss) for the period9904 | €31,774 | €21,029 | €85,003 | €91,371 | €158,839 | €67,885 | €49,077 | ▼ 27.7% |
| Transfer to tax-exempt reserves689 | - | - | - | €91,371 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €31,774 | €21,029 | €85,003 | - | €158,839 | €67,885 | €49,077 | ▼ 27.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.3m | €0.4m | €0.7m | €0.7m | €1.1m | €1.8m | €1.6m | ▼ 8.0% |
| Fixed assets21/28 | €0.08m | €0.07m | €0.1m | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 34.9% |
| Intangible fixed assets21 | - | - | - | - | - | €0.005m | €0.003m | ▼ 36.3% |
| Tangible fixed assets22/27 | €0.08m | €0.07m | €0.1m | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 35.1% |
| Land and buildings22 | - | - | - | €0.003m | €0.001m | €0.001m | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.1m | €0.1m | €0.1m | ▼ 6.9% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.05m | €0.2m | €0.06m | ▼ 61.7% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.01m | - |
| Financial fixed assets28 | €0 | €0.001m | €0.002m | €0.002m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.2m | €0.4m | €0.5m | €0.6m | €1.0m | €1.5m | €1.4m | ▼ 2.7% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €0.2m | - |
| Other amounts receivable291 | - | - | - | - | - | - | €0.2m | - |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.04m | €0.04m | €0.04m | €0.2m | €0.2m | ▼ 6.4% |
| Stocks30/36 | - | - | - | €0.04m | €0.04m | €0.2m | €0.2m | ▼ 6.4% |
| Amounts receivable within one year40/41 | €0.07m | €0.2m | €0.4m | €0.5m | €0.8m | €1.1m | €1.0m | ▼ 10.0% |
| Trade receivables40 | - | - | - | - | €0.04m | €0.09m | €0.3m | ▲ 243% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.8m | €1.1m | €0.7m | ▼ 32.3% |
| Current investments50/53 | - | - | €0.002m | €0.03m | €0.08m | €0.03m | €0.01m | ▼ 54.4% |
| Cash at bank and in hand54/58 | €0.07m | €0.03m | €0.1m | €0.05m | €0.04m | €0.006m | €0.006m | ▲ 12.5% |
| Deferred charges and accrued income490/1 | - | - | - | €385 | €0.001m | €0.1m | €0.003m | ▼ 97.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.3m | €0.4m | €0.7m | €0.7m | €1.1m | €1.8m | €1.6m | ▼ 8.0% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | ▲ 8.1% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.4m | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | - | - | - | - | €0.2m | €0.2m | €0.3m | ▲ 21.6% |
| Amounts payable17/49 | €0.1m | €0.2m | €0.4m | €0.3m | €0.6m | €1.2m | €1.0m | ▼ 16.4% |
| Amounts payable after more than one year17 | €0.07m | €0.05m | €0.04m | €0.02m | €0.006m | €0 | - | - |
| Financial debts170/4 | - | - | - | €0.02m | €0.006m | €0 | - | - |
| Amounts payable within one year42/48 | €0.07m | €0.2m | €0.3m | €0.3m | €0.6m | €1.2m | €1.0m | ▼ 16.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.008m | €0.009m | - | - |
| Financial debts43 | - | - | - | - | €0.06m | €0.08m | €0.08m | ▼ 5.6% |
| Credit institutions430/8 | - | - | - | - | €0.06m | €0.08m | €0.08m | ▼ 5.6% |
| Trade debts44 | €0.05m | €0.09m | €0.2m | €0.2m | €0.3m | €0.9m | €0.7m | ▼ 15.9% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.9m | €0.7m | ▼ 15.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.2m | €0.1m | €0.1m | ▼ 25.6% |
| Taxes450/3 | - | - | - | €0.08m | €0.2m | €0.1m | €0.08m | ▼ 40.6% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.009m | €0.03m | ▲ 188% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.03m | €0.05m | €0.05m | ▲ 0.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,774 | €21,029 | €85,003 | €91,371 | €158,839 | €67,885 | €49,077 | ▼ 27.7% |
| + Depreciation and write-downs630 | €20,111 | €19,223 | €18,458 | €29,900 | €34,042 | €22,285 | €26,643 | ▲ 19.6% |
| Operating cash flow (approximation) | €51,885 | €40,252 | €103,462 | €121,271 | €192,882 | €90,170 | €75,720 | ▼ 16.0% |
| Investment in fixed assets (approximation) | - | -€5,737 | -€52,141 | -€52,762 | -€62,223 | -€160,443 | €75,367 | ▲ 147% |
| Change in cash | - | -€35,647 | €108,118 | -€88,724 | -€10,567 | -€36,436 | €699 | ▲ 102% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 5,224 companies in this sector we hold annual accounts for 3,886. 3,257 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Directors
Directors
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
2026
02-06
Judicial reorganisation
Opening
Tribunal de l’entreprise francophone de Bruxelles · collective agreement (SME) · event 26-05-2026
2025
14-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 106 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 140 days late
2022
31-12
Financial
Highest result since 2018net €158,839 ▲73.8%
Operating result €236,187, net result €158,839, both a record.
31-12
Financial
Equity above €500,000Eq €537,228 ▲42%
5 profitable years in a row build equity to €537,228.
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 116 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet €21,029 ▼33.8%
Net result drops to €21,029, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200,000Eq €202,015 ▲11.6%
2 profitable years in a row build equity to €202,015.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
Show earlier events
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
06-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company
Founded03-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474481042
Registered
07-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 6 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteDrogenbosunit no. 2.100.262.014
Sites & property
Location & real-estate footprint
Registered office, Brussel · 2 establishment units since 2001
Ground area
1,737 m²
Building footprint
1,348 m²
Volume, LiDAR
25,581 m³
3 parcels, Brussels, Flanders · tallest building 30.6 m, ±7 floors. Linked by address, not a title deed.
75
companies at this address
See who is registered here
2 establishment units
Neerstallesteenweg 485, 1180 Ukkel
since 2001unit no. 2.100.261.915
PHARMACIE APOTEEK
since 2001unit no. 2.100.262.014
3 parcels
Flanders
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0121/00B008 | Brussels | 1,451 m² | 1 · 1,103 m² | 30.6 m · 7 fl. |
| 22001B0108/00W005 | Flanders | 169 m² | 1 · 131 m² | 11.8 m · 3 fl. |
| 21616G0097/00S006 | Brussels | 117 m² | 1 · 114 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.