FARMA KOERSEL
ActiveSummary
FARMA KOERSEL has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €184k and a net result of €206k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 22% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+16
Solvency36▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.74 in 2024; short-term debt: 45.9% and cash: 6.8% of total assets), and 88.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
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
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
11.3%
Return on assets
12.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 4178 sector peers (2025).
NBB · sector comparisonPosition among 4178 sector peers
Solvency
better than 22%
← 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 06-08-2026, 6 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
6 d late
2024
27 d late
2023
29 d late
2022
3 d late
2021
23 d early
2020
19 d late
2019
62 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
Not included in this filing
EBIT margin
Not included in this filing
Net result
€206k▲ 98.6%
2024 · €104k
2018: €74k
2019: €90k▲ +21.7% vs 2018
2020: €59k▼ -35.1% vs 2019lowest in 8 years
2021: €128k▲ +118% vs 2020
2022: €158k▲ +23.9% vs 2021
2023: €122k▼ -22.9% vs 2022
2024: €104k▼ -14.9% vs 2023
2025: €206k▲ +98.6% vs 2024highest in 8 years
2018 → 2025
Working capital
€-151k▲ 33.9%
2024 · €-229k
2018: €122k
2019: €106k▼ -12.7% vs 2018
2020: €84k▼ -21.3% vs 2019
2021: €9k▼ -89.4% vs 2020
2022: €128k▲ +1343% vs 2021
2023: €250k▲ +94.6% vs 2022highest in 8 years
2024: €-229k▼ -192% vs 2023lowest in 8 years
2025: €-151k▲ +33.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€177k-€183k▲ 3.3%€183k=€184k▲ 0.2%€184k▲ 0.2%
2021: €177klowest in 5 years
2022: €183k▲ +3.3% vs 2021
2023: €183k● +0.0% vs 2022
2024: €184k▲ +0.2% vs 2023
2025: €184k▲ +0.2% vs 2024highest in 5 years
Operating result€155k-€211k▲ 35.6%€162k▼ 23.3%€167k▲ 3.2%€155k▼ 7.1%
2021: €155k
2022: €211k▲ +35.6% vs 2021highest in 5 years
2023: €162k▼ -23.3% vs 2022
2024: €167k▲ +3.2% vs 2023
2025: €155k▼ -7.1% vs 2024lowest in 5 years
Net result€128k-€158k▲ 23.9%€122k▼ 22.9%€104k▼ 14.9%€206k▲ 98.6%
2021: €128k
2022: €158k▲ +23.9% vs 2021
2023: €122k▼ -22.9% vs 2022
2024: €104k▼ -14.9% vs 2023lowest in 5 years
2025: €206k▲ +98.6% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 7% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.63M
Fixed assets
€1.03M ▼ 25.3%
Current assets
€597k ▼ 8.8%
Equity and liabilities €1.63M
Equity
€184k ▲ 0.2%
Debt
€1.45M ▼ 22.0%
Debt's share of the balance-sheet total falls from 91.0% to 88.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€230k▼
2024 · €253k
Cash flow
€281k▲
2024 · €190k
Current ratio
0.80▲
2024 · 0.74
Quick ratio
0.61▲
2024 · 0.57
Debt to equity
7.87▼
2024 · 10.11
ROE
112.1%▲
2024 · 56.6%
ROA
12.6%▲
2024 · 5.1%
Interest coverage
5.03▲
2024 · 4.24
Debt ≤ 1 year
€748k▼
2024 · €883k
Debt > 1 year
€694k▼
2024 · €970k
Income taxes
€2k▼
2024 · €4k
Staff costs
€3k▼
2024 · €6k
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 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.04M€1.63M▼
Fixed assets21/28€1.39M€1.03M▼
Tangible fixed assets22/27€1.39M€1.03M▼
Land and buildings22€1.29M€950k▼
Plant, machinery and equipment23€32k€34k▲
Furniture and vehicles24€66k€51k▼
Current assets29/58€654k€597k▼
Stocks and contracts in progress3€147k€137k▼
Stocks30/36€147k€137k▼
Amounts receivable within one year40/41€464k€347k▼
Trade receivables40€215k€88k▼
Other amounts receivable41€249k€259k▲
Cash at bank and in hand54/58€27k€112k▲
Deferred charges and accrued income490/1€15k€1k▼
Equity and liabilities
Total equity and liabilities10/49€2.04M€1.63M▼
Equity10/15€184k€184k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€122k€122k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€115k€116k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.86M€1.45M▼
Amounts payable after more than one year17€970k€694k▼
Financial debts170/4€970k€694k▼
Amounts payable within one year42/48€883k€748k▼
Current portion of amounts payable after more than one year42€263k€97k▼
Financial debts43€125k€125k=
Credit institutions430/8€125k€125k=
Trade debts44€382k€315k▼
Suppliers440/4€382k€315k▼
Taxes, remuneration and social security45€9k€6k▼
Taxes450/3€9k€6k▼
Remuneration and social security454/9€95€0▼
Other amounts payable47/48€104k€206k▲
Accrued charges and deferred income492/3€2k€5k▲
Income statement
Code20242025
Remuneration, social security and pensions62€6k€3k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€86k€75k▼
Other operating charges640/8€18k€7k▼
Non-recurring operating charges66A€301€0▼
Gross operating margin9900€277k€240k▼
Operating profit (loss)9901€167k€155k▼
Financial income75/76B€226€99k▲
Recurring financial income75€226€99k▲
Financial charges65/66B€60k€46k▼
Recurring financial charges65€60k€46k▼
Profit (loss) for the period before taxes9903€107k€208k▲
Income taxes67/77€4k€2k▼
Profit (loss) for the period9904€104k€206k▲
Profit (loss) for the period to be appropriated9905€104k€206k▲
Appropriation of the result
Profit (loss) to be appropriated9906€104k€206k▲
Transfer to equity691/2€321€347▲
To other reserves6921€321€347▲
Profit to be distributed694/7€104k€206k▲
Directors or managers695€104k€206k▲
Social balance
Average headcount (FTE)90870.10.1=
The notes to these accounts (21 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €2k | €3k | €6k | €6k | €3k | ▼ 52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €67k | €70k | €71k | €86k | €75k | ▼ 12.5% |
| Other operating charges640/8 | €13k | €12k | €19k | €18k | €7k | ▼ 61.8% |
| Non-recurring operating charges66A | - | - | - | €301 | €0 | ▼ 100% |
| Gross operating margin9900 | €237k | €295k | €257k | €277k | €240k | ▼ 13.5% |
| Operating profit (loss)9901 | €155k | €211k | €162k | €167k | €155k | ▼ 7.1% |
| Financial income75/76B | €19k | €3k | €2k | €226 | €99k | ▲ 43,723% |
| Recurring financial income75 | €19k | €3k | €2k | €226 | €99k | ▲ 43,723% |
| Financial charges65/66B | €40k | €44k | €36k | €60k | €46k | ▼ 23.3% |
| Recurring financial charges65 | €40k | €44k | €36k | €60k | €46k | ▼ 23.3% |
| Profit (loss) for the period before taxes9903 | €134k | €169k | €128k | €107k | €208k | ▲ 93.7% |
| Income taxes67/77 | €6k | €11k | €5k | €4k | €2k | ▼ 44.4% |
| Profit (loss) for the period9904 | €128k | €158k | €122k | €104k | €206k | ▲ 98.6% |
| Transfer from tax-exempt reserves789 | €12k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €140k | €158k | €122k | €104k | €206k | ▲ 98.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.34M | €1.43M | €2.13M | €2.04M | €1.63M | ▼ 20.0% |
| Fixed assets21/28 | €865k | €881k | €1.10M | €1.39M | €1.03M | ▼ 25.3% |
| Tangible fixed assets22/27 | €865k | €881k | €1.10M | €1.39M | €1.03M | ▼ 25.3% |
| Land and buildings22 | €772k | €796k | €1.01M | €1.29M | €950k | ▼ 26.2% |
| Plant, machinery and equipment23 | €19k | €15k | €31k | €32k | €34k | ▲ 3.8% |
| Furniture and vehicles24 | €75k | €70k | €56k | €66k | €51k | ▼ 23.1% |
| Current assets29/58 | €479k | €553k | €1.03M | €654k | €597k | ▼ 8.8% |
| Stocks and contracts in progress3 | €136k | €151k | €165k | €147k | €137k | ▼ 7.0% |
| Stocks30/36 | €136k | €151k | €165k | €147k | €137k | ▼ 7.0% |
| Amounts receivable within one year40/41 | €281k | €316k | €401k | €464k | €347k | ▼ 25.3% |
| Trade receivables40 | €140k | €85k | €101k | €215k | €88k | ▼ 59.3% |
| Other amounts receivable41 | €141k | €231k | €301k | €249k | €259k | ▲ 4.1% |
| Cash at bank and in hand54/58 | €48k | €72k | €444k | €27k | €112k | ▲ 312% |
| Deferred charges and accrued income490/1 | €14k | €14k | €17k | €15k | €1k | ▼ 91.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.34M | €1.43M | €2.13M | €2.04M | €1.63M | ▼ 20.0% |
| Equity10/15 | €177k | €183k | €183k | €184k | €184k | ▲ 0.2% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €121k | €121k | €121k | €122k | €122k | ▲ 0.3% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | €115k | €115k | €115k | €115k | €116k | ▲ 0.3% |
| Profit (loss) carried forward14 | €-6k | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.17M | €1.25M | €1.94M | €1.86M | €1.45M | ▼ 22.0% |
| Amounts payable after more than one year17 | €685k | €682k | €1.08M | €970k | €694k | ▼ 28.5% |
| Financial debts170/4 | €685k | €682k | €1.08M | €970k | €694k | ▼ 28.5% |
| Amounts payable within one year42/48 | €470k | €425k | €778k | €883k | €748k | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | €62k | €63k | €256k | €263k | €97k | ▼ 63.3% |
| Financial debts43 | €50k | €50k | €125k | €125k | €125k | = |
| Credit institutions430/8 | €50k | €50k | €125k | €125k | €125k | = |
| Trade debts44 | €198k | €142k | €267k | €382k | €315k | ▼ 17.6% |
| Suppliers440/4 | €198k | €142k | €267k | €382k | €315k | ▼ 17.6% |
| Taxes, remuneration and social security45 | €26k | €17k | €8k | €9k | €6k | ▼ 38.8% |
| Taxes450/3 | €26k | €17k | €8k | €9k | €6k | ▼ 38.2% |
| Remuneration and social security454/9 | - | €76 | €76 | €95 | €0 | ▼ 100% |
| Other amounts payable47/48 | €135k | €153k | €122k | €104k | €206k | ▲ 98.8% |
| Accrued charges and deferred income492/3 | €12k | €144k | €89k | €2k | €5k | ▲ 122% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €128k | €158k | €122k | €104k | €206k | ▲ 98.6% |
| + Depreciation and write-downs630 | €67k | €70k | €71k | €86k | €75k | ▼ 12.5% |
| Operating cash flow (approximation) | €194k | €228k | €193k | €190k | €281k | ▲ 48.3% |
| Investment in fixed assets (approximation) | - | €-85k | €-288k | €-373k | €276k | ▲ 174% |
| Change in cash | - | €24k | €371k | €-417k | €84k | ▲ 120% |
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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 6 days late
2025
31-12
Financial
Highest result since 2018net €206k ▲98.6%
Net result €206k, the highest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 19 days late
2020
31-12
Financial
Weakest financial yearnet €59k ▼35.1%
Net result drops to €59k, the lowest in the series; recovery starts the following year.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 62 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-06
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.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Beringen · 1 establishment unit since 1994
Ground area
1,496 m²
Building footprint
348 m²
Volume, LiDAR
1,572 m³
Parcel 71029B1024/00G000, Flanders · tallest building 7.4 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Bredestraat 2, 3582 Beringen
since 19942.066.911.038
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71029B1024/00G000 | Flanders | 1,495 m² | 1 · 348 m² | 7.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,670 EUR awarded · 2,670 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,670 EUR | 2,670 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Recognitions · licences · registrations
Food safety, FASFC
1 siteBeringen2.066.911.038
Similar companies · same sector, comparable size
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Kapellen · Eq €183,880
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BE 0885.849.827
Oostkamp · Eq €183,907
Apotheek Godilo
BE 0871.265.084
Wevelgem · Eq €184,237
VERZELE PHARMA ZWALM
BE 0475.231.407
Oudenaarde · Eq €183,267
Apotheek Vanhoutte Lore
BE 0422.414.511
Blankenberge · Eq €183,256
Of 5,220 companies in sector 47730 we hold annual accounts for 3,861. 3,581 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
Founded07-04-1994
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Scores and ratios are computed by Checked and are not a credit decision.