EXOTHERA
Open bankruptcySummary
A bankruptcy procedure is open for EXOTHERA according to publications in the Belgian State Gazette. The 2023 annual accounts show equity of €4.6m and a net result of -€31.4m.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Hainaut, Charleroi division
- Declared bankrupt
- 26 August 2025
- Supervising judge
- Thierry Henrot
- Official Gazette
- 02-09-2025 (pdf) ↗search the document for 2025/135227
Deadlines
- Provisional date payments stopped
- 26 August 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 17 September 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 25 September 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 23 October 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 26 August 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curators
- Karl De RidderRue Du Parc,49, 6000 Char- Leroikd@avocats-nemesis.be
- Isabelle BronkaertChaussee De Thuin 164, 6032 Mont-Sur-Marchienne- . Date provisoire de cessation de paiement : 26/08/2025avocat.bronkaert@bbaasrl.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 04-07-2024, 27 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
27 d early
2022
20 d early
2021
9 d early
2020
43 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 25 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Are there other customers at risk in your own list?List enrichment How is the Manufacture of basic pharmaceutical products and pharmaceutical preparations sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, full schema
Turnover
€10.0m▲ 39.5%
2022 · €7.1m
EBIT margin
-301.4%▲ 8.2pp
2022 · -309.6%
Net result
-€31.4m▼ 36.5%
2022 · -€23.0m
Working capital
-€9.8m▲ 25.3%
2022 · -€13.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2020202120222023
Turnover€634,864-€4.2m▲ 557%€7.1m▲ 71.2%€10.0m▲ 39.5%
Operating result-€5.3m--€10.9m▼ 106%-€22.1m▼ 102%-€30.0m▼ 35.8%
Net result-€5.3mbelow the sector's middle half--€11.4mbelow the sector's middle half▼ 115%-€23.0mbelow the sector's middle half▼ 101%-€31.4mbelow the sector's middle half▼ 36.5%
EBIT margin-834.8%--261.8%▲ 573.0pp-309.6%▼ 47.8pp-301.4%▲ 8.2pp
Equity€2.7mwithin the sector's middle half-€2.8mwithin the sector's middle half▲ 3.3%€3.8mwithin the sector's middle half▲ 36.3%€4.6mwithin the sector's middle half▲ 22.2%
Total assets€11.5mwithin the sector's middle half-€20.8mwithin the sector's middle half▲ 81.6%€29.2mwithin the sector's middle half▲ 40.1%€35.7mwithin the sector's middle half▲ 22.3%
Debt€8.8m-€18.0m▲ 106%€25.4m▲ 40.7%€31.0m▲ 22.3%
Working capital€515,289within the sector's middle half--€7.4mbelow the sector's middle half-€13.2mbelow the sector's middle half▼ 76.9%-€9.8mbelow the sector's middle half▲ 25.3%
Solvency23.5%within the sector's middle half-13.4%below the sector's middle half▼ 10.1pp13.0%below the sector's middle half▼ 0.4pp13.0%below the sector's middle half=
Current ratio1.06within the sector's middle half-0.53below the sector's middle half▼ 0.530.36below the sector's middle half▼ 0.170.54below the sector's middle half▲ 0.18
Return on assets (ROA)-46.3%below the sector's middle half--54.8%below the sector's middle half▼ 8.5pp-78.8%below the sector's middle half▼ 24.0pp-87.9%below the sector's middle half▼ 9.1pp
Staff (FTE)45within the sector's middle half-84within the sector's middle half▲ 86.7%133.3within the sector's middle half▲ 58.7%139.2within the sector's middle half▲ 4.4%
above
within
below
the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €30.0m in 2023 against €22.1m in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €35.7m
Fixed assets
€24.2m ▲ 11.4%
Current assets
€11.4m ▲ 54.3%
Equity and liabilities €35.7m
Equity
€4.6m ▲ 22.2%
Debt
€31.0m ▲ 22.3%
Debt's share of the balance-sheet total stays at 87.0%.
Key figures and ratios
EBITDA
-€26.8m▼
2022 · -€20.3m
Cash flow
-€28.2m▼
2022 · -€21.2m
Quick ratio
0.42▲
2022 · 0.24
Debt to equity
6.68▲
2022 · 6.67
ROE
-675.4%▼
2022 · -604.9%
Interest coverage
-16.62▲
2022 · -20.96
Debt ≤ 1 year
€21.2m▲
2022 · €20.5m
Debt > 1 year
€4.2m▲
2022 · €4.0m
Staff costs
€13.8m▲
2022 · €12.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | €3.0m | €6.6m | €13.3m | €12.8m | ▼ 3.9% |
| Turnover70 | €634,864 | €4.2m | €7.1m | €10.0m | ▲ 39.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €975 | - |
| Own construction capitalised72 | €66,869 | €163,539 | €2.5m | €1.2m | ▼ 53.0% |
| Other operating income74 | €2.3m | €2.3m | €3.6m | €1.7m | ▼ 53.9% |
| Non-recurring operating income76A | - | - | €53,618 | €66 | ▼ 99.9% |
| Operating charges60/66A | €8.3m | €17.5m | €35.4m | €42.8m | ▲ 20.9% |
| Goods for resale, raw materials and consumables60 | €613,679 | €1.8m | €3.8m | €4.7m | ▲ 23.3% |
| Purchases600/8 | €613,679 | €3.4m | €5.0m | €5.4m | ▲ 7.7% |
| Change in stocks: decrease (increase)609 | - | -€1.7m | -€1.2m | -€672,800 | ▲ 43.1% |
| Services and other goods61 | €847,050 | €4.1m | €9.8m | €11.4m | ▲ 16.3% |
| Remuneration, social security and pensions62 | €2.6m | €7.0m | €12.2m | €13.8m | ▲ 13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €635,539 | €537,725 | €1.8m | €3.2m | ▲ 73.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €84,826 | €299,784 | €1.2m | ▲ 307% |
| Other operating charges640/8 | €3.6m | €4.1m | €7.4m | €8.4m | ▲ 13.1% |
| Non-recurring operating charges66A | €100 | - | - | €30,624 | - |
| Operating profit (loss)9901 | -€5.3m | -€10.9m | -€22.1m | -€30.0m | ▼ 35.8% |
| Financial income75/76B | €27 | €1,452 | €123,608 | €450,071 | ▲ 264% |
| Recurring financial income75 | €27 | €1,452 | €123,608 | €450,071 | ▲ 264% |
| Other financial income752/9 | €27 | €1,452 | €123,608 | €450,071 | ▲ 264% |
| Financial charges65/66B | €10,887 | €496,901 | €1.0m | €1.8m | ▲ 78.6% |
| Recurring financial charges65 | €10,887 | €496,901 | €1.0m | €1.8m | ▲ 78.6% |
| Debt charges650 | €9,051 | €453,262 | €967,468 | €1.6m | ▲ 67.0% |
| Other financial charges652/9 | €1,836 | €43,639 | €37,440 | €179,310 | ▲ 379% |
| Profit (loss) for the period before taxes9903 | -€5.3m | -€11.4m | -€23.0m | -€31.4m | ▼ 36.5% |
| Profit (loss) for the period9904 | -€5.3m | -€11.4m | -€23.0m | -€31.4m | ▼ 36.5% |
| Profit (loss) for the period to be appropriated9905 | -€5.3m | -€11.4m | -€23.0m | -€31.4m | ▼ 36.5% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €11.5m | €20.8m | €29.2m | €35.7m | ▲ 22.3% |
| Fixed assets21/28 | €2.6m | €12.5m | €21.8m | €24.2m | ▲ 11.4% |
| Intangible fixed assets21 | €408,232 | €381,556 | €2.5m | €3.6m | ▲ 44.2% |
| Tangible fixed assets22/27 | €2.2m | €12.0m | €19.2m | €20.6m | ▲ 7.2% |
| Plant, machinery and equipment23 | €699,309 | €792,135 | €5.3m | €6.4m | ▲ 20.6% |
| Furniture and vehicles24 | €41,184 | €27,652 | €67,710 | €103,102 | ▲ 52.3% |
| Leasing and similar rights25 | €311,271 | €229,323 | €5.8m | €6.3m | ▲ 9.2% |
| Other tangible fixed assets26 | €97,225 | €55,693 | €34,115 | €15,184 | ▼ 55.5% |
| Assets under construction and advance payments27 | €1.0m | €10.9m | €8.0m | €7.8m | ▼ 3.1% |
| Financial fixed assets28 | €37,610 | €79,756 | €70,860 | €59,695 | ▼ 15.8% |
| Other financial fixed assets284/8 | €37,610 | €79,756 | €70,860 | €59,695 | ▼ 15.8% |
| Amounts receivable and cash guarantees285/8 | €37,610 | €79,756 | €70,860 | €59,695 | ▼ 15.8% |
| Current assets29/58 | €8.8m | €8.3m | €7.4m | €11.4m | ▲ 54.3% |
| Stocks and contracts in progress3 | - | €1.6m | €2.5m | €2.6m | ▲ 4.9% |
| Stocks30/36 | - | €1.6m | €2.5m | €2.6m | ▲ 4.9% |
| Raw materials and consumables30/31 | - | - | - | €2.4m | - |
| Work in progress32 | - | - | - | €149,175 | - |
| Goods purchased for resale34 | - | €1.6m | €2.5m | - | - |
| Amounts receivable within one year40/41 | €2.2m | €5.5m | €2.9m | €5.8m | ▲ 96.8% |
| Trade receivables40 | €1.7m | €2.5m | €979,206 | €2.4m | ▲ 146% |
| Other amounts receivable41 | €429,568 | €3.0m | €2.0m | €3.4m | ▲ 72.1% |
| Cash at bank and in hand54/58 | €6.6m | €726,811 | €1.8m | €2.3m | ▲ 30.0% |
| Deferred charges and accrued income490/1 | €49,765 | €530,204 | €220,526 | €745,370 | ▲ 238% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €11.5m | €20.8m | €29.2m | €35.7m | ▲ 22.3% |
| Equity10/15 | €2.7m | €2.8m | €3.8m | €4.6m | ▲ 22.2% |
| Contributions10/11 | €4.2m | €4.9m | €8.0m | €10.3m | ▲ 27.8% |
| Capital10 | €4.2m | €4.9m | €8.0m | €10.3m | ▲ 27.8% |
| Issued capital100 | €4.2m | €4.9m | €8.0m | €10.3m | ▲ 27.8% |
| Profit (loss) carried forward14 | -€1.5m | -€3.6m | -€6.7m | -€8.5m | ▼ 26.9% |
| Investment grants15 | - | €1.5m | €2.5m | €2.9m | ▲ 17.0% |
| Amounts payable17/49 | €8.8m | €18.0m | €25.4m | €31.0m | ▲ 22.3% |
| Amounts payable after more than one year17 | €270,229 | €988,441 | €4.0m | €4.2m | ▲ 5.2% |
| Financial debts170/4 | €270,229 | €988,441 | €4.0m | €4.2m | ▲ 5.2% |
| Subordinated loans170 | - | €800,000 | €600,000 | €816,667 | ▲ 36.1% |
| Leasing and similar obligations172 | €270,229 | €188,441 | €3.4m | €3.4m | ▼ 0.2% |
| Amounts payable within one year42/48 | €8.3m | €15.8m | €20.5m | €21.2m | ▲ 3.4% |
| Current portion of amounts payable after more than one year42 | €79,793 | €281,788 | €979,956 | €1.4m | ▲ 41.1% |
| Financial debts43 | - | €1.1m | €1.1m | €46,733 | ▼ 95.6% |
| Credit institutions430/8 | - | €1.1m | €1.1m | €46,733 | ▼ 95.6% |
| Trade debts44 | €1.7m | €6.8m | €10.2m | €13.5m | ▲ 33.1% |
| Suppliers440/4 | €1.7m | €6.8m | €10.2m | €13.5m | ▲ 33.1% |
| Taxes, remuneration and social security45 | €615,499 | €1.6m | €2.6m | €2.5m | ▼ 5.1% |
| Taxes450/3 | €879 | €126,466 | €446,951 | €249,733 | ▼ 44.1% |
| Remuneration and social security454/9 | €614,620 | €1.5m | €2.1m | €2.2m | ▲ 3.0% |
| Other amounts payable47/48 | €5.9m | €6.1m | €5.8m | €3.8m | ▼ 33.7% |
| Accrued charges and deferred income492/3 | €167,052 | €1.3m | €782,231 | €5.5m | ▲ 608% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5.3m | -€11.4m | -€23.0m | -€31.4m | ▼ 36.5% |
| + Depreciation and write-downs630 | €635,539 | €537,725 | €1.8m | €3.2m | ▲ 73.8% |
| Operating cash flow (approximation) | -€4.7m | -€10.9m | -€21.2m | -€28.2m | ▼ 33.3% |
| Investment in fixed assets (approximation) | - | -€10.4m | -€11.1m | -€5.6m | ▲ 49.2% |
| Change in cash | - | -€5.9m | €1.1m | €533,547 | ▼ 49.3% |
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
2025
02-09
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Charleroi · event 26-08-2025
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€31.4m
Net result drops to -€31.4m, the lowest in the series.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
14 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Charleroi · 5 establishment units since 2020
Ground area
2.6 ha
Building footprint
6,592 m²
Volume, LiDAR
78,897 m³
4 parcels, Brussels, Wallonia · tallest building 30.4 m, ±9 floors. Linked by address, not a title deed.
5 establishment units
EXOTHERA
since 20202.300.602.646
EXOTHERA
since 20202.315.511.447
EXOTHERA
since 20202.316.742.654
EXOTHERA
since 20202.316.742.753
EXOTHERA
since 20202.316.742.852
4 parcels
Wallonia
3
(75%)
Brussels
1
(25%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52034B1039/00Z004 | Wallonia | 9,994 m² | 1 · 3,265 m² | 11.1 m · 3 fl. |
| 52028B0323/00M003 | Wallonia | 8,679 m² | 1 · 791 m² | 18.8 m · 5 fl. |
| 21332B0081/00H002 | Brussels | 3,929 m² | 1 · 1,150 m² | 30.4 m · 9 fl. |
| 25099D0025/00L003 | Wallonia | 3,517 m² | 1 · 1,386 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | KARL DE RIDDER RUE DU PARC,49, 6000 CHAR-
LEROI |
26-08-2025 → present |
| Curator | ISABELLE BRONKAERT CHAUSSEE
DE THUIN 164, 6032 MONT-SUR-MARCHIENNE-
.
Date provisoire de cessation de paiement : 26/08/2025 |
26-08-2025 → present |
Structure & network
Owners and holdings
1 ownerChain of control
- UNIVERCELLS
- EXOTHERA
Highest known parent: UNIVERCELLS. The sources do not say who stands above it.
Owners 1
- UNIVERCELLSparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
European Union, budget
2022 · 1 entry · 410,249 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2022 | 1 | 410,249 EUR |
Projects
PAT4CGT - AUTOMATED ONLINE MONITORING & CONTROL TO IMPROVE PROCESSES AND DECISION MAKING IN CELL AND GENE THERAPY MANUFACTURING
European research
1 project · 410,250 EUR EU contributionProgrammes
Projects
Automated online monitoring & control to improve processes and decision making in cell and gene therapy manufacturing
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Of 148 companies in sector 21201 we hold annual accounts for 118. 64 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded02-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
21201Manufacture of basic pharmaceutical products and pharmaceutical preparations
72101Research and development on biotechnology
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.