Exphar
ActiveExphar has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.54M and a net result of €868k. Equity is growing by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 43% of 4826 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
91
/ 100
Excellent▲ +23 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability55▲+18
Solvency76▲+22
Growth59▼-2
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 1.68 against 1.38 in 2024), but 60.8% of the assets are financed with debt.
Credit advice 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
39.2%
Return on assets
6.1%
Age of the figures
8 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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
4 d late
2023
36 d early
2022
13 d early
2021
18 d early
2020
9 d early
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€22.88M▲ 2.1%
2024 · €22.41M
2018: €10.42M
2019: €12.61M
2020: €13.27M
2021: €15.54M
2022: €21.05M
2023: €20.92M
2024: €22.41M
2018 → 2025
EBIT margin
6.3%▲ 2.5pp
2024 · 3.8%
2018: 13.4%
2019: 14.8%
2020: 10.6%
2021: 15.4%
2022: 7.1%
2023: 6.5%
2024: 3.8%
2018 → 2025
Net result
€868k▲ 119%
2024 · €397k
2018: €899k
2019: €1.23M
2020: €897k
2021: €1.62M
2022: €987k
2023: €1.15M
2024: €397k
2018 → 2025
Working capital
€3.26M▲ 21.4%
2024 · €2.69M
2018: €139k
2019: €1.02M
2020: €472k
2021: €2.13M
2022: €2.95M
2023: €506k
2024: €2.69M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€15.54M-€21.05M▲ 35.5%€20.92M▼ 0.6%€22.41M▲ 7.1%€22.88M▲ 2.1%
Equity€5.43M-€6.52M▲ 20.0%€4.26M▼ 34.7%€4.70M▲ 10.4%€5.54M▲ 17.9%
Operating result€2.39M-€1.50M▼ 37.1%€1.35M▼ 10.0%€847k▼ 37.3%€1.43M▲ 69.2%
Net result€1.62M-€987k▼ 39.2%€1.15M▲ 16.9%€397k▼ 65.6%€868k▲ 119%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 69% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.13M
Fixed assets
€6.09M▼ 5.6%
Current assets
€8.04M▼ 17.3%
Equity and liabilities €14.13M
Equity
€5.54M▲ 17.9%
Provisions
€88k▼ 10.0%
Debt
€8.50M▼ 25.2%
The debt ratio falls from 70.3% to 60.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€1.99M▲
2024 · €1.50M
Cash flow
€1.43M▲
2024 · €1.05M
Solvency
39.2%▲
2024 · 29.1%
Current ratio
1.68▲
2024 · 1.38
Quick ratio
0.67▼
2024 · 0.67
Debt / equity
1.53▼
2024 · 2.42
ROE
15.7%▲
2024 · 8.4%
ROA
6.1%▲
2024 · 2.5%
Interest coverage
6.44▲
2024 · 4.55
Debt
€8.50M▼
2024 · €11.37M
Debt ≤ 1 year
€4.78M▼
2024 · €7.03M
Debt > 1 year
€3.71M▼
2024 · €4.35M
Income taxes
€348k▲
2024 · €164k
Staff costs
€2.38M▲
2024 · €2.10M
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€16.17M€14.13M▼
Fixed assets21/28€6.46M€6.09M▼
Intangible fixed assets21€96k€169k▲
Tangible fixed assets22/27€6.25M€5.81M▼
Land and buildings22€5.99M€5.61M▼
Plant, machinery and equipment23€79k€68k▼
Furniture and vehicles24€178k€133k▼
Financial fixed assets28€114k€114k=
Affiliated companies280/1€20k€20k=
Participating interests280€20k€20k=
Other financial fixed assets284/8€93k€93k=
Shares284€75k€75k=
Amounts receivable and cash guarantees285/8€18k€18k=
Current assets29/58€9.71M€8.04M▼
Amounts receivable after more than one year29-€768k
Trade receivables290-€768k
Stocks and contracts in progress3€5.04M€4.86M▼
Stocks30/36€5.04M€4.86M▼
Goods purchased for resale34€5.04M€4.86M▼
Amounts receivable within one year40/41€2.64M€567k▼
Trade receivables40€2.43M€271k▼
Other amounts receivable41€207k€296k▲
Cash at bank and in hand54/58€1.96M€1.75M▼
Deferred charges and accrued income490/1€77k€88k▲
Equity and liabilities
Total equity and liabilities10/49€16.17M€14.13M▼
Equity10/15€4.70M€5.54M▲
Contributions10/11€1.05M€1.05M=
Capital10€1.05M€1.05M=
Issued capital100€1.05M€1.05M=
Reserves13€2.48M€2.46M▼
Non-distributable reserves130/1€185k€185k=
Legal reserve130€185k€185k=
Tax-exempt reserves132€190k€171k▼
Distributable reserves133€2.11M€2.11M=
Profit (loss) carried forward14€786k€1.67M▲
Investment grants15€387k€360k▼
Provisions and deferred taxes16€98k€88k▼
Deferred taxes168€98k€88k▼
Amounts payable17/49€11.37M€8.50M▼
Amounts payable after more than one year17€4.35M€3.71M▼
Financial debts170/4€4.35M€3.71M▼
Credit institutions173€4.35M€3.71M▼
Amounts payable within one year42/48€7.03M€4.78M▼
Current portion of amounts payable after more than one year42€600k€511k▼
Trade debts44€1.19M€472k▼
Suppliers440/4€1.19M€472k▼
Taxes, remuneration and social security45€501k€691k▲
Taxes450/3€18k€296k▲
Remuneration and social security454/9€483k€395k▼
Other amounts payable47/48€4.74M€3.10M▼
Accrued charges and deferred income492/3-€15k
Income statement
Code20242025
Operating income70/76A€22.99M€23.01M▲
Turnover70€22.41M€22.88M▲
Other operating income74€578k€130k▼
Operating charges60/66A€22.14M€21.58M▼
Goods for resale, raw materials and consumables60€14.10M€13.60M▼
Purchases600/8€14.10M€13.50M▼
Change in stocks: decrease (increase)609-€103k
Services and other goods61€5.22M€4.94M▼
Remuneration, social security and pensions62€2.10M€2.38M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€655k€559k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€20k€72k▲
Other operating charges640/8€43k€29k▼
Operating profit (loss)9901€847k€1.43M▲
Financial income75/76B€118k€181k▲
Recurring financial income75€118k€181k▲
Income from financial fixed assets750-€2k
Other financial income752/9€118k€179k▲
Financial charges65/66B€414k€406k▼
Recurring financial charges65€414k€406k▼
Debt charges650€330k€309k▼
Other financial charges652/9€84k€97k▲
Profit (loss) for the period before taxes9903€551k€1.21M▲
Transfer from deferred taxes780€10k€10k=
Income taxes67/77€164k€348k▲
Taxes670/3€164k€349k▲
Tax adjustments and reversals of tax provisions77-€884
Profit (loss) for the period9904€397k€868k▲
Transfer from tax-exempt reserves789€19k€19k=
Profit (loss) for the period to be appropriated9905€416k€887k▲
Appropriation of the result
Profit (loss) to be appropriated9906€786k€1.67M▲
Profit (loss) brought forward from the previous period14P€370k€786k▲
Social balance
Average headcount (FTE)908724.127.0▲
The notes to these accounts (51 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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €5MEq €5.54M ▲17.9%
8 profitable years in a row build equity to €5.54M.
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
31-12
Financial
Weakest financial yearnet €397k ▼65.6%
Net result drops to €397k, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €1.62M ▲81%
Operating result €2.39M, net result €1.62M, both a record.
31-12
Financial
Equity above €5MEq €5.43M ▲42.2%
4 profitable years in a row build equity to €5.43M.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1 day late
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
08-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
19 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, Nivelles · 1 establishment unit since 2014
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.
Avenue Thomas Edison 1051402 NivellesGround area
4,825 m²
Building footprint
4,182 m²
Parcel 25099D0012/00Y011, Wallonia. Linked by address, not a title deed.
1 establishment unit
Avenue Thomas Edison 105, 1402 Nivelles
since 20142.226.977.171
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25099D0012/00Y011 | Wallonia | 4,825 m² | 1 · 4,182 m² | - |
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.
Recognitions · licences · registrations
Legal Entity Identifier
549300VOB8NXNQKPLB59
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Of 1,894 companies in sector 46460 we hold annual accounts for 1,114. 544 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-08-1981
Fiscal year end31-12
Activities, NACEBEL
46460Wholesale of pharmaceutical and medical goods
Sources
Crossroads Bank for EnterprisesNational Bank · 45 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.