Active BE 0508.697.593Private limited company

DPHARMA

Route de Houffalize(Bertogne) 4 ·6687 Bastogne, Belgium· 13 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

DPHARMA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.25M and a net result of €124k. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 5394 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€1.25M
Net result	€124k
Better than sector	66%
Active	13 yrs

Financial profile 4 of 5 axes measured · computed by Checked

78 / 100

Strong profile, led by stability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 49

Solvency 86

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2012, 13 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview13 NBB filings

Annual accounts filed on 26-08-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Gross margin: growth of ~5.1%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

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).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	68.8%	51.9%	better than 66% of 5394 sector peers
Net result	€124k	€53k	better than 66% of 5395 sector peers
Equity	€1.25M	€623k	better than 66% of 5395 sector peers
Gross operating margin	€154k	€87k	better than 66% of 5391 sector peers
Employees (FTE)	0.0	0.0	better than 32% of 1843 sector peers

Net profit

€124k

+9.3% 21-25

Total assets

€1.82M

+4.7% 21-25

Equity

€1.25M

+11.0% 21-25

Employees (FTE)

0

- 21-25

Income taxes

€37k

-21.0% 21-25

Debt

€568k

-6.9% 21-25

Debt ≤ 1y

€510k

+3.2% 21-25

Debt > 1y

€58k

-49.7% 21-25

Solvency

68.8%

+6.0% 21-25

ROE

9.9%

-1.5% 21-25

ROA

6.8%

+4.4% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	full schema	abbreviated schema	full schema	full schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€124k	€113k	€102k	€102k	€92k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	€37k	€46k	€41k	€41k	€37k
Dividends	-	-	-	-	-
Total assets	€1.82M	€1.74M	€1.66M	€1.61M	€1.24M
Equity	€1.25M	€1.13M	€1.01M	€911k	€809k
Debt	€568k	€610k	€650k	€701k	€432k
of which ≤ 1y	€510k	€494k	€473k	€460k	€128k
of which > 1y	€58k	€116k	€177k	€241k	€304k
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	0.0	0.0	0.0	-	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	68.8%	64.9%	60.9%	56.5%	65.2%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	6.8%	6.5%	6.2%	6.3%	7.4%
ROE	9.9%	10.0%	10.1%	11.2%	11.4%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €1.12M · 61.5% Current assets €701k · 38.5%

Equity & liabilities

Equity €1.25M · 68.8% Debt €568k · 31.2%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.82M	€1.74M	€1.66M	€1.61M	€1.24M
Fixed assets	21/28	€1.12M	€1.12M	€1.13M	€1.14M	€1.14M
Tangible fixed assets	22/27	€3k	€10k	€17k	€23k	€30k
Financial fixed assets	28	€1.11M	€1.11M	€1.11M	€1.11M	€1.11M
Current assets	29/58	€701k	€612k	€532k	€474k	€97k
Amounts receivable within one year	40/41	€686k	€592k	€484k	€405k	€17k
Cash & bank	54/58	€13k	€19k	€48k	€68k	€78k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.82M	€1.74M	€1.66M	€1.61M	€1.24M
Equity	10/15	€1.25M	€1.13M	€1.01M	€911k	€809k
Contributions / capital	10/11	€12k	€12k	€12k	€12k	€12k
Reserves	13	€1.24M	€1.11M	€1.00M	€898k	€797k
Amounts payable	17/49	€568k	€610k	€650k	€701k	€432k
Amounts payable after one year	17	€58k	€116k	€177k	€241k	€304k
Amounts payable within one year	42/48	€510k	€494k	€473k	€460k	€128k
Trade debts payable within one year	44	€98	€661	€1k	€552	€3k
Income statement
Gross operating margin	9900	€154k	€201k	€176k	€169k	€155k
Operating result	9901	€146k	€193k	€168k	€161k	€150k
Financial income	75	€44k	-	-	-	€1
Financial charges	65	€30k	€33k	€24k	€18k	€21k
Result before taxes	9903	€160k	€159k	€144k	€143k	€129k
Income taxes	67/77	€37k	€46k	€41k	€41k	€37k
Net result for the period	9904	€124k	€113k	€102k	€102k	€92k
Result to be appropriated	9905	€124k	€113k	€102k	€102k	€92k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	24-12-2012
Status	Active
Postal code	6687

Establishment units 1 location

DPHARMA

Route de Houffalize(Bertogne) 4, 6687 BastogneFinancial service activities, except insurance and pension funding

since 20122.215.259.373

Real-estate footprint Source: CBE × cadastre

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
82005B1947/00E000	Wallonia	973 m²	1 · 207 m²	-

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 10 events

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

26-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 26 days late

2025

31-12

Financial Highest result since 2021net €124k ▲9.3%

Net result €124k, the highest in the series.

28-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 28 days late

2024

29-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 29 days late

2023

31-12

Financial Equity above €1MEq €1.01M ▲11.3%

3 profitable years in a row build equity to €1.01M.

29-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 29 days late

2022

28-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 28 days late

2021

30-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 30 days late

2020

29-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 60 days late

2019

26-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 26 days late

2018

14-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 14 days late

2017

08-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 8 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 4 acts read

We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies64210Buying and selling of own real estate68110Accountants69201Other tax advisory services69209

Names & trade names

Legal nameFR

DPHARMA

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