DYNAMIC PHARMA
ActiveSummary
The computed 12-month bankruptcy probability of DYNAMIC PHARMA is 1.8% (moderate). The 2025 annual accounts show negative equity (-€43,571) and a net result of €45,384. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 11% of 5,039 sector peers (NACE 47, financial year 2025). The company has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 24-11-2010 Normal situation
- Activity
- Retail sale of pharmaceutical products NACE 47730
- Joint committee
- 313 Paritair Comité voor de apotheken en tarificatiediensten · annual accounts 2025
- Establishment unit
- 2.193.966.487 6700 Arlon, since 01-01-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 26-01-2026
Board and ownership
Board
- GROFFY OlivierChair
- DENIS JoëlleManaging director
Shareholders
- ExpansionPharma99%2025 annual accounts of ExpansionPharma
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.8%
Annual accounts 2025
- Gross margin
- €760,921
- ▼ 6.2%
- Turnover
- ≈ €2.8m
- estimated
- Profit
- €45,384
- Equity
- -€43,571
- ▲ 51.0%
- Total assets
- €1.4m
- ▼ 12.7%
- Employees on 31-12-2025
- 10
- ▼ 23.1%
- Negative equity on 31-12-2025
- 2025 accounts filed 20 days after the deadline
Score breakdownraises riskNegative equity -€43,571Liquidity: current ratio 1.25, cash €29,994Size: 8.5 FTE, total assets €1.4mlowers riskFounded in 2010Show the evidence
Checked score
Score 2025
55
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 50% of micro companies in retail trade (NACE 47)
Financial strength · tick: 2024
Average
Solvency
22+2
equity -3.1% of total assets
Liquidity
41+5
short-term debt 28.5% · cash 2.1%
Profitability
73+20
return on assets 3.2%
Bankruptcy probability within 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.4%
01-2025: 3.4%● unchanged vs 12-2024
02-2025: 3.4%● unchanged vs 01-2025
03-2025: 3.4%● unchanged vs 02-2025
04-2025: 3.5%▲ +0.1 percentage points vs 03-2025highest value
05-2025: 3.5%● unchanged vs 04-2025
06-2025: 2.3%▼ -1.2 percentage points vs 05-2025
07-2025: 2.3%● unchanged vs 06-2025
08-2025: 2.3%● unchanged vs 07-2025
09-2025: 2.3%● unchanged vs 08-2025
10-2025: 2.3%● unchanged vs 09-2025
11-2025: 2.3%● unchanged vs 10-2025
12-2025: 2.3%● unchanged vs 11-2025
01-2026: 2.3%● unchanged vs 12-2025
02-2026: 2.4%▲ +0.1 percentage points vs 01-2026
03-2026: 2.3%▼ -0.1 percentage points vs 02-2026
04-2026: 2.3%● unchanged vs 03-2026
05-2026: 2.2%▼ -0.1 percentage points vs 04-2026
06-2026: 2.1%▼ -0.1 percentage points vs 05-2026
07-2026: 2.3%▲ +0.2 percentage points vs 06-2026
08-2026: 3.1%▲ +0.8 percentage points vs 07-2026
09-2026: 1.8%▼ -1.3 percentage points vs 08-2026lowest value
10-2026: 1.8%● unchanged vs 09-2026lowest value
11-2026: 1.8%● unchanged vs 10-2026lowest value
No credit on open account
Liquidity is tight, with a current ratio of 1.25 (1.1 in 2024), below the usual 1.5. Short-term debt is 28.5% and cash 2.1% of total assets. Equity is negative.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 18% of them on solvency, 39% on liquidity, 57% on profitability and 86% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 5039 sector peers (2025).
NBB · sector comparisonPosition among 5039 sector peers
Solvency
better than 11%
← weakest
strongest →
raises risk · 2025 accounts filed 20 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
20 days late
2024
72 days early
2023
19 days late
2022
6 days early
2021
17 days late
2020
30 days early
2019
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 20 days after the deadline Filed on 20 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00413804.
Annual accounts 2025 filed on 20-08-2026 at the NBB all 15 filings
Turnover
€3.0m▲ 0.6%
2018 · €3.0m
EBIT margin
4.7%▲ 10.8pp
2018 · -6.1%
Net result
€45,384
2024 · -€5,134
Working capital
€100,403▲ 67.7%
2024 · €59,882
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€69,094
▲ 239%
2025
20182025
Net result
€45,384
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
-€43,571
▲ 51.0%
2025
lowest quarter of the sector
20182025
Total assets
€1.4m
▼ 12.7%
2025
middle half of the sector
20182025
Debt
€1.5m
▼ 14.7%
2025
20182025
Working capital
€100,403
▲ 67.7%
2025
middle half of the sector
20182025
Solvency
-3.1%
▲ 2.4pp
2025
lowest quarter of the sector
20182025
Current ratio
1.25
▲ 0.15
2025
middle half of the sector
20182025
Return on assets (ROA)
3.2%
▲ 3.5pp
2025
middle half of the sector
20182025
Staff (FTE)
8.5
▼ 12.4%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3.0m-€3.0m▲ 0.6%
Operating result-€0.2m-€0.1m€0.06m▼ 58.0%€0.2m▲ 289%€0.08m▼ 67.3%-€0.2m€0.02m€0.07m▲ 239%
Net result-€0.2m-€0.1m€0.03mwithin the sector's middle half▼ 75.1%€0.2mabove the sector's middle half▲ 529%€0.03mwithin the sector's middle half▼ 81.1%-€0.2mbelow the sector's middle half-€0.005mbelow the sector's middle half▲ 97.2%€0.05mwithin the sector's middle half
EBIT margin-6.1%-4.7%▲ 10.8pp
Equity-€0.2m--€0.1m▲ 51.9%-€0.07mbelow the sector's middle half▲ 26.8%€0.07mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 45.2%-€0.08mbelow the sector's middle half-€0.09mbelow the sector's middle half▼ 6.1%-€0.04mbelow the sector's middle half▲ 51.0%
Total assets€2.5m-€2.4m▼ 5.8%€2.4mabove the sector's middle half▲ 1.1%€2.4mabove the sector's middle half▼ 1.1%€2.1mwithin the sector's middle half▼ 12.6%€1.9mwithin the sector's middle half▼ 10.4%€1.6mwithin the sector's middle half▼ 12.9%€1.4mwithin the sector's middle half▼ 12.7%
Debt€2.8m-€2.5m▼ 9.3%€2.5m=€2.3m▼ 6.8%€2.0m▼ 14.3%€2.0m▼ 1.6%€1.7m▼ 12.1%€1.5m▼ 14.7%
Working capital€0.3m-€0.3m▲ 0.5%€0.3mwithin the sector's middle half▲ 12.4%€0.5mabove the sector's middle half▲ 70.7%€0.4mwithin the sector's middle half▼ 21.9%€0.1mwithin the sector's middle half▼ 65.3%€0.06mwithin the sector's middle half▼ 56.7%€0.1mwithin the sector's middle half▲ 67.7%
Solvency-8.1%--4.1%▲ 4.0pp-3.0%below the sector's middle half▲ 1.1pp2.9%below the sector's middle half▲ 5.9pp4.8%below the sector's middle half▲ 1.9pp-4.5%below the sector's middle half▼ 9.3pp-5.4%below the sector's middle half▼ 1.0pp-3.1%below the sector's middle half▲ 2.4pp
Current ratio1.27-1.30▲ 0.021.31within the sector's middle half▲ 0.011.67within the sector's middle half▲ 0.361.70within the sector's middle half▲ 0.031.20within the sector's middle half▼ 0.491.10within the sector's middle half▼ 0.101.25within the sector's middle half▲ 0.15
Return on assets (ROA)-9.2%-4.5%▲ 13.6pp1.1%within the sector's middle half▼ 3.4pp7.0%within the sector's middle half▲ 5.9pp1.5%within the sector's middle half▼ 5.5pp-9.9%below the sector's middle half▼ 11.4pp-0.3%below the sector's middle half▲ 9.6pp3.2%within the sector's middle half▲ 3.5pp
Staff (FTE)9.6-9.7▲ 1.0%10within the sector's middle half▲ 3.1%10within the sector's middle half=10.7within the sector's middle half▲ 7.0%10.7within the sector's middle half=9.7within the sector's middle half▼ 9.3%8.5within the sector's middle half▼ 12.4%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 3.4 times that of 2024. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€918,899 ▼ 6.5%
Current assets
€506,180 ▼ 22.1%
Equity and liabilities
Equity-€43,571
Debt€1.5m
Equity is negative. Debt (€1.5m) exceeds the balance-sheet total (€1.4m).
Key figures and ratios
EBITDA
€150,192▲
2024 · €104,192
Cash flow
€126,482▲
2024 · €78,702
Quick ratio
0.55▼
2024 · 0.65
Interest coverage
6.41▲
2024 · 4.14
Debt ≤ 1 year
€405,777▼
2024 · €590,212
Debt > 1 year
€1.0m▼
2024 · €1.1m
Income taxes
€270▼
2024 · €733
Staff costs
€600,087▼
2024 · €695,746
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 13 | 14 | 13 | 10 |
| full-time | 2 | 2 | 5 | 4 | 3 |
| part-time | 12 | 11 | 9 | 9 | 7 |
| in full-time equivalents | 10.6 | 9.9 | 11.6 | 10.5 | 8.3 |
| Average over the year, in full-time equivalents | 10 | 10.7 | 10.7 | 9.7 | 8.5 |
| On a permanent contract | 14 | 13 | 14 | 13 | 10 |
| Joined | 4 | 9 | 5 | 3 | 4 |
| Left | 3 | 10 | 4 | 4 | 7 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €35,692 | €79,062 | €19,953 | €4,175 | €16,868 |
| Intangible fixed assets | - | €950 | - | - | - |
| Financial fixed assets | - | - | - | - | €69 |
| Depreciation and write-downs of the year | €73,281 | €76,156 | €82,561 | €83,836 | €81,098 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €3.0m | €3.0m | - | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.7m | €0.7m | €0.6m | ▼ 13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.08m | €0.07m | €0.07m | €0.08m | €0.08m | €0.08m | €0.08m | ▼ 3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €270 | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 8.5% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | €0.8m | €0.8m | €0.7m | €0.9m | €0.8m | €0.6m | €0.8m | €0.8m | ▼ 6.2% |
| Operating profit (loss)9901 | -€0.2m | €0.1m | €0.06m | €0.2m | €0.08m | -€0.2m | €0.02m | €0.07m | ▲ 239% |
| Financial income75/76B | - | - | - | €256 | €36 | €99 | €412 | €0 | ▼ 100% |
| Recurring financial income75 | - | €0.02m | €0 | €256 | €36 | €99 | €412 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 6.9% |
| Recurring financial charges65 | €0.05m | €0.05m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | -€0.2m | €0.1m | €0.03m | €0.2m | €0.05m | -€0.2m | -€0.004m | €0.05m | - |
| Income taxes67/77 | €316 | €159 | €183 | €0.03m | €0.02m | €473 | €0.001m | €270 | ▼ 63.2% |
| Profit (loss) for the period9904 | -€0.2m | €0.1m | €0.03m | €0.2m | €0.03m | -€0.2m | -€0.005m | €0.05m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | €0.1m | €0.03m | €0.2m | €0.03m | -€0.2m | -€0.005m | €0.05m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.5m | €2.4m | €2.4m | €2.4m | €2.1m | €1.9m | €1.6m | €1.4m | ▼ 12.7% |
| Fixed assets21/28 | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.1m | €1.0m | €0.9m | ▼ 6.5% |
| Intangible fixed assets21 | €0.003m | - | - | - | €0.001m | €343 | €26 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €1.3m | €1.2m | €1.2m | €1.1m | €1.1m | €1.1m | €1.0m | €0.9m | ▼ 6.6% |
| Land and buildings22 | - | - | - | €1.1m | €1.1m | €1.0m | €0.9m | €0.9m | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | - | €0.06m | €0.06m | €0.05m | €0.04m | €0.04m | ▼ 12.8% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.007m | €0.005m | €0.003m | €0.005m | ▲ 59.6% |
| Financial fixed assets28 | €0.001m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | ▲ 1.8% |
| Current assets29/58 | €1.2m | €1.2m | €1.3m | €1.3m | €1.0m | €0.8m | €0.7m | €0.5m | ▼ 22.1% |
| Stocks and contracts in progress3 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 6.5% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 6.5% |
| Amounts receivable within one year40/41 | €0.8m | €0.8m | €0.9m | €1.0m | €0.6m | €0.5m | €0.3m | €0.2m | ▼ 46.4% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 8.8% |
| Other amounts receivable41 | - | - | - | €0.8m | €0.5m | €0.4m | €0.2m | €0.04m | ▼ 76.9% |
| Cash at bank and in hand54/58 | €0.04m | €0.03m | €0.03m | €0.03m | €0.04m | €0.03m | €0.04m | €0.03m | ▼ 14.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.005m | €0.02m | €0.01m | €0.01m | ▼ 3.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.5m | €2.4m | €2.4m | €2.4m | €2.1m | €1.9m | €1.6m | €1.4m | ▼ 12.7% |
| Equity10/15 | -€0.2m | -€0.1m | -€0.07m | €0.07m | €0.1m | -€0.08m | -€0.09m | -€0.04m | ▲ 51.0% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | - | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Non-distributable reserves130/1 | - | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Profit (loss) carried forward14 | -€0.3m | -€0.2m | -€0.1m | €0.005m | €0.03m | -€0.2m | -€0.2m | -€0.1m | ▲ 28.3% |
| Amounts payable17/49 | €2.8m | €2.5m | €2.5m | €2.3m | €2.0m | €2.0m | €1.7m | €1.5m | ▼ 14.7% |
| Amounts payable after more than one year17 | €1.7m | €1.5m | €1.5m | €1.5m | €1.3m | €1.2m | €1.1m | €1.0m | ▼ 6.6% |
| Financial debts170/4 | - | - | - | €0.5m | €0.4m | €0.3m | €0.2m | €0.09m | ▼ 43.9% |
| Other amounts payable178/9 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 0.5% |
| Amounts payable within one year42/48 | €1.0m | €0.9m | €1.0m | €0.8m | €0.6m | €0.7m | €0.6m | €0.4m | ▼ 31.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | ▼ 43.9% |
| Financial debts43 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 1.3% |
| Credit institutions430/8 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 1.3% |
| Trade debts44 | €0.6m | €0.3m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 27.5% |
| Suppliers440/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 27.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.08m | €0.09m | €0.09m | €0.07m | ▼ 12.6% |
| Taxes450/3 | - | - | - | €0.009m | €0.009m | €0.01m | €0.01m | €0.009m | ▼ 26.8% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.07m | €0.08m | €0.07m | €0.07m | ▼ 10.3% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.02m | €0.1m | €0.1m | €0.06m | ▼ 46.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.07m | €0.08m | €0.06m | €0.03m | €0.03m | ▲ 15.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€233,042 | €107,037 | €26,599 | €167,434 | €31,563 | -€185,233 | -€5,134 | €45,384 | - |
| + Depreciation and write-downs630 | €125,147 | €82,997 | €72,553 | €73,281 | €76,156 | €82,561 | €83,836 | €81,098 | ▼ 3.3% |
| Operating cash flow (approximation) | -€107,894 | €190,034 | €99,152 | €240,714 | €107,719 | -€102,672 | €78,702 | €126,482 | ▲ 60.7% |
| Investment in fixed assets (approximation) | - | -€7,463 | €1,990 | -€35,692 | -€80,012 | -€19,953 | -€4,175 | -€16,936 | ▼ 306% |
| Change in cash | - | -€16,326 | €3,226 | €499 | €7,611 | -€7,844 | €5,640 | -€5,036 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,379 companies had the same profile as DYNAMIC PHARMA has now. Two years later, 94.3% were still going and 2.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
94.3%
was still going
3.2%
stopped otherwise
2.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DYNAMIC PHARMA itself: 1.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,379 companies, not a prediction for DYNAMIC PHARMA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 20-08-2026 | 2026-00413804 | |
| 31-12-2024 | full format | 20-05-2025 | 2025-00104043 | |
| 31-12-2023 | full format | 19-08-2024 | 2024-00357733 | |
| 31-12-2022 | full format | 25-07-2023 | 2023-00273820 | |
| 31-12-2021 | full format | 17-08-2022 | 2022-20298184 | |
| 31-12-2020 | full format | 01-07-2021 | 2021-30900571 | |
| 31-12-2019 | full format | 28-08-2020 | 2020-47300026 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-62300410 | |
| 31-12-2017 | full format | 28-09-2018 | 2018-66200065 | |
| 31-12-2016 | full format | 11-08-2017 | 2017-42700415 |
Board & ownership
Directors
Directors
2 directors, 2 in day-to-day management
Board 2
GROFFY Olivier
Current
Chair of the board · in office according to the act of 16-06-2022 · Administrateur non statutaire · in office according to the act of 16-06-2022 · listed in the 2025 annual accounts, filed on 20-08-2026
DENIS Joëlle
Current
Administrateur non statutaire · in office according to the act of 16-06-2022 · listed in the 2025 annual accounts, filed on 20-08-2026
Day-to-day management 2
DENIS Joëlle
Current
Managing director · in office according to the act of 16-06-2022
GROFFY Olivier
Current
Managing director · in office according to the act of 16-06-2022
Owners and capital
Shareholders
1 ownerChain of control
- ExpansionPharma
- DYNAMIC PHARMA
Owners 1
- ExpansionPharmaparentEquity €6.6m Profit of €500,241 in 2025 (profit of €328,759 in 2024)99%
Capital transactions
Capital over time
- 16-06-2022 Capital stated in the deed · €65,000 · 100 shares
Mandate history
2 people, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| DENIS Joëlle |
|
| GROFFY Olivier |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Conseil d'administration, 6 ans”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “À charge cessionnaire même en cas retrait, prix proposé ou expert désigné commun accord ou Président Tribunal Première Instance statuant…”
Articles of association, deed of 16-06-2022 (in French)
Network & group
Companies at the same address
3 other companiesConnections & network
2 current directorsThe network starts from the directors of DYNAMIC PHARMA. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
20-08
full format · 20 days late
2025
31-12
Financial
Back to profitnet €45,384
The net result is €45,384, after 2 loss-making years.
20-05
full format · 72 days before the deadline
2024
19-08
full format · 19 days late
2023
25-07
full format · 6 days before the deadline
2022
31-12
Financial
Equity above €100,000equity €101,412 ▲45.2%
After 4 profitable years in a row, equity reaches €101,412.
17-08
full format · 17 days late
16-06
Gazette deed
Amendment of the articles · Resignations & appointmentsReappointments: DENIS Joëlle (administrateur non statutaire) and GROFFY Olivier (administrateur non statutaire) · Incorporation · Purpose change18 points ▸
Gazette deed
Amendment of the articles · Resignations & appointments
Reappointments: DENIS Joëlle (administrateur non statutaire) and GROFFY Olivier (administrateur non statutaire) · Incorporation · Purpose change18 points ▸
- General meeting, 10-06-2022
- Incorporation, 18-11-2010
- Other provision, “statuts non modifiés, non modifiés à ce jour” (deed in French)
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “rapport organe d’administration sur modification objet, greffe du tribunal de l’entreprise avec expédition du procès-verbal” (deed in French)
- Purpose change
- Capital, €65,000
- Director reappointment, DENIS Joëlle (administrateur non statutaire)
- Director reappointment, GROFFY Olivier (administrateur non statutaire)
- Registered office clause, “6700 Arlon, rue de l'Abattoir”, 1, “Cinquième_résolution_déclaration” (deed in French)
- Board meeting, “réuni_après_assemblée_générale_extraordinaire, Conseil d'Administration de la Société Anonyme DYNAMIC PHARMA” (deed in French)
- Board composition, DENIS Joëlle (director)
- The act holds 6 more points.
2021
31-12
Financial
Highest result from 2018 to 2025net €167,434 ▲529%
The operating result of €230,849 and the net result of €167,434 are both a record.
01-07
full format · 30 days before the deadline
2020
28-08
full format · 28 days late
2019
31-12
Financial
Back to profitnet €107,037
The net result is €107,037, after one loss-making year.
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
DYNAMIC PHARMA in French
Enterprise number
0831.334.045
Legal form
Public limited company
Status
Active, normale toestand
Founded
24-11-2010
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 16-06-2022 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, établir ou supprimer sièges administratifs,agences,ateliers,dépôts,succursales en Belgique et étranger par simple décision…”
deed of 16-06-2022 (in French)Registered office and establishments
Registered office
Rue de l'Abattoir 1, 6700 Arlon, Belgium
Establishment unit
Rue de l'Abattoir 1, 6700 Arlon since 01-01-2011 · unit number 2.193.966.487
Activities
NACEBEL 2025VAT activities
47730
Retail sale of pharmaceutical products main activity
Social security (RSZ) activities
47730
Retail sale of pharmaceutical products main activity
Codes under NACEBEL 2008
VAT activities
47730
Retail trade main activity
Social security (RSZ) activities
47730
Retail trade main activity
Joint committee
313 Paritair Comité voor de apotheken en tarificatiediensten annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 16-06-2022 (in French)
“La société a pour objet la pharmacie, le commerce de détail en produit de beauté, articles de toilette, en produits pharmaceutiques ainsi…”
3 activities
- La société a pour objet la pharmacie, le commerce de détail en produit de beauté, articles de toilette, en produits pharmaceutiques ainsi que la distribution et la fabrication de médicaments, produits de santé et cosmétiques.
- De façon générale, elle pourra faire toutes autres transactions ou opérations commerciales, industrielles, financières, mobilières et immobilières se rapportant directement ou indirectement en tout ou en partie à son objet social, ou qui seraient de nature à en faciliter la réalisation.
- La société pourra aussi s'intéresser par voie d'apport, de cession, de fusion, de souscription, de participation, d'intervention financière ou autrement dans toutes entreprises, associations, société ou opérations ayant un objet similaire, analogue ou connexe au sien ou de nature à en favoriser la réalisation.
Invoicing and payment
VAT number
BE 0831.334.045
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
1,944 m²
Building footprint
449 m²
Building volume
3,160 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 81001A1339/00Y000 | Wallonia | 1,944 m² | 1 · 449 m² | 9.5 m · 2 |