Europhar
ActiveSummary
Europhar has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €230k and a net result of €242k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 4886 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+1
Solvency32▲+7
Growth85▲+13
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.67 against 0.58 in 2024; short-term debt: 76.6% and cash: 7% of total assets), and 93.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Eight 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
6.6%
Return on assets
7%
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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 4886 sector peers (2025).
NBB · sector comparisonPosition among 4886 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
138 d late
2022
100 d late
2021
36 d late
2020
80 d late
2019
159 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€5.14M▲ 21.4%
2018 · €4.23M
2018: €4.23M
2019: €5.14M▲ +21.4% vs 2018
2018 → 2019
EBIT margin
1.6%▲ 1.5pp
2018 · 0.1%
2018: 0.1%
2019: 1.6%▲ +2043% vs 2018
2018 → 2019
Net result
€242k▲ 20.2%
2024 · €202k
2018: €-145klowest in 8 years
2019: €-119k▲ +17.9% vs 2018
2020: €-122k▼ -2.3% vs 2019
2021: €-119k▲ +2.2% vs 2020
2022: €-47k▲ +60.2% vs 2021
2023: €30k▲ +163% vs 2022
2024: €202k▲ +571% vs 2023
2025: €242k▲ +20.2% vs 2024highest in 8 years
2018 → 2025
Working capital
€-884k▲ 15.2%
2024 · €-1.04M
2018: €-52khighest in 8 years
2019: €-439k▼ -752% vs 2018
2020: €-670k▼ -52.7% vs 2019
2021: €-931k▼ -39.0% vs 2020
2022: €-1.13M▼ -21.6% vs 2021lowest in 8 years
2023: €-1.07M▲ +5.3% vs 2022
2024: €-1.04M▲ +2.8% vs 2023
2025: €-884k▲ +15.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-196k-€-244k▼ 24.2%€-213k▲ 12.3%€-12k▲ 94.4%€230k
2021: €-196k
2022: €-244k▼ -24.2% vs 2021lowest in 5 years
2023: €-213k▲ +12.3% vs 2022
2024: €-12k▲ +94.4% vs 2023
2025: €230k▲ +2023% vs 2024highest in 5 years
Operating result€-57k-€19k€205k▲ 970%€375k▲ 82.7%€408k▲ 8.9%
2021: €-57klowest in 5 years
2022: €19k▲ +133% vs 2021
2023: €205k▲ +970% vs 2022
2024: €375k▲ +82.7% vs 2023
2025: €408k▲ +8.9% vs 2024highest in 5 years
Net result€-119k-€-47k▲ 60.2%€30k€202k▲ 571%€242k▲ 20.2%
2021: €-119klowest in 5 years
2022: €-47k▲ +60.2% vs 2021
2023: €30k▲ +163% vs 2022
2024: €202k▲ +571% vs 2023
2025: €242k▲ +20.2% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 9% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.48M
Fixed assets
€1.70M ▼ 8.2%
Current assets
€1.78M ▲ 21.1%
Equity and liabilities €3.48M
Equity
€230k
Debt
€3.25M
Debt finances 93.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€608k▲
2024 · €563k
Cash flow
€442k▲
2024 · €390k
Current ratio
0.67▲
2024 · 0.58
Quick ratio
0.53▲
2024 · 0.44
Debt to equity
14.10
ROE
105.2%
ROA
7.0%▲
2024 · 6.1%
Interest coverage
11.23▲
2024 · 7.42
Debt ≤ 1 year
€2.66M▲
2024 · €2.51M
Debt > 1 year
€571k▼
2024 · €801k
Income taxes
€121k▲
2024 · €107k
Staff costs
€893k=
2024 · €893k
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 · 62 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.32M€3.48M▲
Fixed assets21/28€1.85M€1.70M▼
Intangible fixed assets21€265k€182k▼
Tangible fixed assets22/27€560k€491k▼
Land and buildings22€428k€351k▼
Plant, machinery and equipment23€93k€76k▼
Furniture and vehicles24€40k€22k▼
Leasing and similar rights25-€41k
Financial fixed assets28€1.03M€1.03M=
Current assets29/58€1.47M€1.78M▲
Stocks and contracts in progress3€369k€357k▼
Stocks30/36€369k€357k▼
Amounts receivable within one year40/41€977k€1.17M▲
Trade receivables40€536k€559k▲
Other amounts receivable41€441k€610k▲
Current investments50/53€6-
Cash at bank and in hand54/58€111k€242k▲
Deferred charges and accrued income490/1€10k€9k▼
Equity and liabilities
Total equity and liabilities10/49€3.32M€3.48M▲
Equity10/15€-12k€230k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€120k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132-€114k
Profit (loss) carried forward14€-80k€48k▲
Amounts payable17/49€3.33M€3.25M▼
Amounts payable after more than one year17€801k€571k▼
Financial debts170/4€801k€571k▼
Amounts payable within one year42/48€2.51M€2.66M▲
Current portion of amounts payable after more than one year42€293k€312k▲
Financial debts43€198k€249k▲
Credit institutions430/8€198k€249k▲
Trade debts44€1.52M€1.53M▲
Suppliers440/4€1.52M€1.53M▲
Taxes, remuneration and social security45€231k€291k▲
Taxes450/3€71k€125k▲
Remuneration and social security454/9€160k€167k▲
Other amounts payable47/48€272k€275k▲
Accrued charges and deferred income492/3€19k€14k▼
Income statement
Code20242025
Non-recurring operating income76A€19k€7k▼
Remuneration, social security and pensions62€893k€893k=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€188k€200k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€52k
Other operating charges640/8€28k€9k▼
Non-recurring operating charges66A€23k-
Gross operating margin9900€1.51M€1.56M▲
Operating profit (loss)9901€375k€408k▲
Financial income75/76B€10k€9k▼
Recurring financial income75€10k€9k▼
Financial charges65/66B€76k€54k▼
Recurring financial charges65€76k€54k▼
Profit (loss) for the period before taxes9903€309k€363k▲
Income taxes67/77€107k€121k▲
Profit (loss) for the period9904€202k€242k▲
Transfer to tax-exempt reserves689-€114k
Profit (loss) for the period to be appropriated9905€202k€129k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-80k€48k▲
Profit (loss) brought forward from the previous period14P€-282k€-80k▲
Social balance
Average headcount (FTE)908716.316.1▼
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2k | - | €1k | €19k | €7k | ▼ 62.4% |
| Remuneration, social security and pensions62 | €767k | €818k | €851k | €893k | €893k | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €170k | €167k | €177k | €188k | €200k | ▲ 6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €52k | - |
| Other operating charges640/8 | €35k | €19k | €12k | €28k | €9k | ▼ 66.5% |
| Non-recurring operating charges66A | €57k | €129 | €4k | €23k | - | - |
| Gross operating margin9900 | €972k | €1.02M | €1.25M | €1.51M | €1.56M | ▲ 3.7% |
| Operating profit (loss)9901 | €-57k | €19k | €205k | €375k | €408k | ▲ 8.9% |
| Financial income75/76B | €6k | €6k | €7k | €10k | €9k | ▼ 9.3% |
| Recurring financial income75 | €6k | €6k | €7k | €10k | €9k | ▼ 9.3% |
| Financial charges65/66B | €59k | €58k | €136k | €76k | €54k | ▼ 28.7% |
| Recurring financial charges65 | €59k | €58k | €136k | €76k | €54k | ▼ 28.7% |
| Profit (loss) for the period before taxes9903 | €-110k | €-33k | €76k | €309k | €363k | ▲ 17.6% |
| Income taxes67/77 | €9k | €15k | €46k | €107k | €121k | ▲ 12.7% |
| Profit (loss) for the period9904 | €-119k | €-47k | €30k | €202k | €242k | ▲ 20.2% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €114k | - |
| Profit (loss) for the period to be appropriated9905 | €-119k | €-47k | €30k | €202k | €129k | ▼ 36.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.95M | €3.48M | €3.42M | €3.32M | €3.48M | ▲ 4.8% |
| Fixed assets21/28 | €2.19M | €2.04M | €1.94M | €1.85M | €1.70M | ▼ 8.2% |
| Intangible fixed assets21 | €512k | €429k | €347k | €265k | €182k | ▼ 31.1% |
| Tangible fixed assets22/27 | €654k | €584k | €565k | €560k | €491k | ▼ 12.3% |
| Land and buildings22 | €640k | €573k | €505k | €428k | €351k | ▼ 17.9% |
| Plant, machinery and equipment23 | - | - | - | €93k | €76k | ▼ 18.2% |
| Furniture and vehicles24 | €14k | €12k | €60k | €40k | €22k | ▼ 43.6% |
| Leasing and similar rights25 | - | - | - | - | €41k | - |
| Financial fixed assets28 | €1.03M | €1.03M | €1.03M | €1.03M | €1.03M | = |
| Current assets29/58 | €1.76M | €1.44M | €1.48M | €1.47M | €1.78M | ▲ 21.1% |
| Stocks and contracts in progress3 | €402k | €421k | €381k | €369k | €357k | ▼ 3.4% |
| Stocks30/36 | €402k | €421k | €381k | €369k | €357k | ▼ 3.4% |
| Amounts receivable within one year40/41 | €1.00M | €1.01M | €1.09M | €977k | €1.17M | ▲ 19.6% |
| Trade receivables40 | €418k | €491k | €622k | €536k | €559k | ▲ 4.3% |
| Other amounts receivable41 | €582k | €518k | €466k | €441k | €610k | ▲ 38.2% |
| Current investments50/53 | €6 | €6 | €6 | €6 | - | - |
| Cash at bank and in hand54/58 | €336k | €8k | - | €111k | €242k | ▲ 118% |
| Deferred charges and accrued income490/1 | €22k | €5k | €12k | €10k | €9k | ▼ 8.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.95M | €3.48M | €3.42M | €3.32M | €3.48M | ▲ 4.8% |
| Equity10/15 | €-196k | €-244k | €-213k | €-12k | €230k | ▲ 2,023% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €120k | ▲ 1,833% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | - | - | - | €114k | - |
| Profit (loss) carried forward14 | €-264k | €-312k | €-282k | €-80k | €48k | ▲ 160% |
| Amounts payable17/49 | €4.15M | €3.73M | €3.63M | €3.33M | €3.25M | ▼ 2.5% |
| Amounts payable after more than one year17 | €1.45M | €1.15M | €1.07M | €801k | €571k | ▼ 28.8% |
| Financial debts170/4 | €1.45M | €1.15M | €1.07M | €801k | €571k | ▼ 28.8% |
| Amounts payable within one year42/48 | €2.69M | €2.58M | €2.55M | €2.51M | €2.66M | ▲ 6.0% |
| Current portion of amounts payable after more than one year42 | €324k | €300k | €309k | €293k | €312k | ▲ 6.5% |
| Financial debts43 | - | - | €209k | €198k | €249k | ▲ 25.6% |
| Credit institutions430/8 | - | - | €209k | €198k | €249k | ▲ 25.6% |
| Trade debts44 | €1.85M | €1.81M | €1.57M | €1.52M | €1.53M | ▲ 1.2% |
| Suppliers440/4 | €1.85M | €1.81M | €1.57M | €1.52M | €1.53M | ▲ 1.2% |
| Taxes, remuneration and social security45 | €103k | €127k | €154k | €231k | €291k | ▲ 26.1% |
| Taxes450/3 | €4k | €8k | €20k | €71k | €125k | ▲ 76.8% |
| Remuneration and social security454/9 | €99k | €119k | €134k | €160k | €167k | ▲ 3.7% |
| Other amounts payable47/48 | €413k | €342k | €315k | €272k | €275k | ▲ 1.3% |
| Accrued charges and deferred income492/3 | €6k | - | €7k | €19k | €14k | ▼ 25.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-119k | €-47k | €30k | €202k | €242k | ▲ 20.2% |
| + Depreciation and write-downs630 | €170k | €167k | €177k | €188k | €200k | ▲ 6.1% |
| Operating cash flow (approximation) | €51k | €119k | €207k | €390k | €442k | ▲ 13.4% |
| Investment in fixed assets (approximation) | - | €-15k | €-76k | €-101k | €-48k | ▲ 52.5% |
| Change in cash | - | €-328k | - | - | €131k | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-09
State Gazette act
Resignation: PHARMAOACH (director)Permanent representatives: Paul RANSART and Stéphanie THOMAES · Appointment: PALATINE (director)5 facts ▸
State Gazette act
Resignation: PHARMAOACH (director)
Permanent representatives: Paul RANSART and Stéphanie THOMAES · Appointment: PALATINE (director)5 facts ▸
- General meeting, 08-09-2026
- Director resignation, PHARMAOACH (director)
- Permanent representative, Paul RANSART (permanent representative)
- Director appointment, PALATINE (director)
- Permanent representative, Stéphanie THOMAES (permanent representative)
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €242k ▲20.2%
Operating result €408k, net result €242k, both a record.
31-12
Financial
Equity above €200kEq €230k
3 profitable years in a row build equity to €230k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
16-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 138 days late
2023
31-12
Financial
Back to profitnet €30k
Net result €30k after 5 loss-making years.
08-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 100 days late
2022
05-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 36 days late
2021
19-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 80 days late
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 159 days late
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 14 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 14 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
PALATINE
CurrentDirector · since 22-09-2026 · Legal entity · perm. rep.: Stéphanie THOMAES
22-09-2026
PALATINE: Appointed as Director
22-09-2026
PHARMACOACH: Resigned as Director
Not every act has been read: a resignation may be missing here
11 of this company's 12 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Genappe · 2 establishment units since 1999
Ground area
921 m²
Building footprint
394 m²
2 parcels, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Pharmacie de Genappe
since 19992.092.824.191
Pharmacie de Tamines
since 20162.255.498.339
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25113C0175/02E000 | Wallonia | 756 m² | 1 · 232 m² | - |
| 92121A0911/00S002 | Wallonia | 165 m² | 1 · 162 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Who signs
“2. Après délibération, l'assemblée générale décide de nommer, avec effet rétroactif au 1er janvier 2026, en qualité d'administrateur, pour une durée indéterminée: - La S.A. « PALATINE », ayant son siège social à 1040 Etterbeek, Rue Gérard, 150, valablement représentée par son représentant permanent…”
Full text
2. Après délibération, l'assemblée générale décide de nommer, avec effet rétroactif au 1er janvier 2026, en qualité d'administrateur, pour une durée indéterminée: - La S.A. « PALATINE », ayant son siège social à 1040 Etterbeek, Rue Gérard, 150, valablement représentée par son représentant permanent, Madame Stéphanie THOMAES, qui accepte. Chaque administrateur exercera ses fonctions conformément aux statuts, avec pouvoir individuel de gestion et de représentation de la société.
Recognitions · licences · registrations
Legal Entity Identifier
549300KFB5CEZC85QP38
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Identification & contact
Identification
Legal formPublic limited company
Founded08-01-1999
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
47730Retail sale of pharmaceutical products
Scores and ratios are computed by Checked and are not a credit decision.