E-pharma
ActiveE-pharma has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €497k and a net result of €108k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 5487 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
81
/ 100
Excellent▲ +79 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency33▲+24
Growth78▲+26
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 1.51 against 0.37 in 2024), but 84.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 47
higher
← 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
15.9%
Return on assets
3.5%
Age of the figures
8 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 5487 sector peers (2025).
NBB · sector comparisonPosition among 5487 sector peers
Solvency
better than 18%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
61 d late
2023
30 d late
2022
4 d early
2021
3 d early
2020
23 d late
2019
26 d late
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€497k▲ 27.9%
2024 · €389k
2018: €282k
2019: €360k
2020: €1.03M
2021: €1.01M
2022: €1.06M
2023: €1.06M
2024: €389k
2018 → 2025
Total assets
€3.12M▲ 4.8%
2024 · €2.98M
2018: €2.92M
2019: €2.84M
2020: €2.95M
2021: €3.05M
2022: €3.09M
2023: €3.08M
2024: €2.98M
2018 → 2025
Net result
€108k
2024 · €-133k
2018: €98k
2019: €77k
2020: €674k
2021: €-23k
2022: €53k
2023: €-2k
2024: €-133k
2018 → 2025
Working capital
€279k
2024 · €-1.16M
2018: €-662k
2019: €-758k
2020: €179k
2021: €-87k
2022: €-179k
2023: €-288k
2024: €-1.16M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.01M-€1.06M▲ 5.2%€1.06M▼ 0.2%€389k▼ 63.3%€497k▲ 27.9%
Operating result€9k-€93k▲ 955%€31k▼ 67.1%€-69k€143k
Net result€-23k-€53k€-2k€-133k▼ 5,577%€108k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €143k after a loss of €69k in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.12M
Fixed assets
€2.29M▼ 0.7%
Current assets
€828k▲ 23.7%
Equity and liabilities €3.12M
Equity
€497k▲ 27.9%
Debt
€2.62M▲ 1.3%
The debt ratio falls from 86.9% to 84.1%: equity grows faster than debt.
Key figures and ratios
EBITDA
€162k▲
2024 · €-46k
Cash flow
€127k▲
2024 · €-110k
Solvency
15.9%▲
2024 · 13.1%
Current ratio
1.51▲
2024 · 0.37
Quick ratio
1.51▲
2024 · 0.37
Debt / equity
5.28▼
2024 · 6.66
ROE
21.8%▲
2024 · -34.3%
ROA
3.5%▲
2024 · -4.5%
Interest coverage
4.97▲
2024 · -0.72
Debt
€2.62M▲
2024 · €2.59M
Debt ≤ 1 year
€549k▼
2024 · €1.83M
Debt > 1 year
€2.07M▲
2024 · €762k
Income taxes
€3k
Staff costs
€662k▲
2024 · €152k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.98M€3.12M▲
Fixed assets21/28€2.31M€2.29M▼
Tangible fixed assets22/27€405k€388k▼
Land and buildings22€399k€381k▼
Plant, machinery and equipment23-€7k
Furniture and vehicles24€6k-
Financial fixed assets28€1.90M€1.90M=
Current assets29/58€669k€828k▲
Amounts receivable within one year40/41€109k€726k▲
Trade receivables40€27k€54k▲
Other amounts receivable41€82k€672k▲
Cash at bank and in hand54/58€550k€101k▼
Deferred charges and accrued income490/1€10k€1k▼
Equity and liabilities
Total equity and liabilities10/49€2.98M€3.12M▲
Equity10/15€389k€497k▲
Contributions10/11€25k€25k=
Reserves13€364k€472k▲
Distributable reserves133€364k€472k▲
Amounts payable17/49€2.59M€2.62M▲
Amounts payable after more than one year17€762k€2.07M▲
Financial debts170/4€762k€2.07M▲
Amounts payable within one year42/48€1.83M€549k▼
Current portion of amounts payable after more than one year42€77k€78k▲
Trade debts44€60k€37k▼
Suppliers440/4€60k€37k▼
Taxes, remuneration and social security45€63k€137k▲
Taxes450/3€19k€39k▲
Remuneration and social security454/9€43k€98k▲
Other amounts payable47/48€1.63M€298k▼
Income statement
Code20242025
Non-recurring operating income76A-€3k
Remuneration, social security and pensions62€152k€662k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€18k▼
Other operating charges640/8€10k€12k▲
Non-recurring operating charges66A-€7k
Gross operating margin9900€117k€842k▲
Operating profit (loss)9901€-69k€143k▲
Financial charges65/66B€64k€33k▼
Recurring financial charges65€64k€33k▼
Profit (loss) for the period before taxes9903€-133k€111k▲
Income taxes67/77-€3k
Profit (loss) for the period9904€-133k€108k▲
Profit (loss) for the period to be appropriated9905€-133k€108k▲
Appropriation of the result
Profit (loss) to be appropriated9906€899k€108k▼
Profit (loss) brought forward from the previous period14P€1.03M-
Transfer to equity691/2€361k€108k▼
To other reserves6921€361k€108k▼
Profit to be distributed694/7€538k-
Return on contributions (dividend)694€538k-
Social balance
Average headcount (FTE)90878.38.8▲
The notes to these accounts (17 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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €108k
Net result €108k after 2 loss-making years.
31-12
Financial
Liquidity quadruplescurrent ratio 1.51
Current ratio from 0.37 to 1.51; short-term debt falls from €1.83M to €549k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-133k
Net result drops to €-133k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €53k
Net result €53k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2020
31-12
Financial
Highest result since 2018net €674k ▲773%
Operating result €226k, net result €674k, both a record.
31-12
Financial
Liquidity times 12current ratio 1.39
Current ratio from 0.11 to 1.39; short-term debt falls from €856k to €464k.
31-12
Financial
Equity above €1MEq €1.03M ▲187%
3 profitable years in a row build equity to €1.03M.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2024
AMBIXX BV
CurrentDirector · since 27-06-2024 · Legal entity
27-06-2024
AMBIXX BV: Appointed as Director
27-06-2024
Erik VAN NUFFEL: Resigned as Director
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2009
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.
Heidestraat 2172660 AntwerpenGround area
501 m²
Building footprint
158 m²
Volume, LiDAR
1,392 m³
Parcel 11019B0225/00W000, Flanders · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
E-pharma
since 20092.183.525.329
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11019B0225/00W000 | Flanders | 501 m² | 1 · 158 m² | 11.9 m · 3 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
Apotheek Oude Bareel
BE 0784.668.335
Gent · Eq €497k
MAPANT
BE 0479.935.907
Retie · Eq €497k
PHARMACIE DEHAUT
BE 0461.339.423
Dour · Eq €498k
APOTHEEK VANACKERE
BE 0447.360.832
Kortrijk · Eq €498k
PHARMA 9220
BE 1019.772.381
Hamme (Vl.) · Eq €498k
Of 5,208 companies in sector 47730 we hold annual accounts for 3,850. 3,350 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-12-2009
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
64200Holdings
64210Activities of holding companies
63920Other information service activities
63990Computing infrastructure, data processing, hosting and other information service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.