FRAPEJA PHARMA
ActiveSummary
FRAPEJA PHARMA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €135,972 and a net result of -€37,162. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 28% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▼-17
Solvency43▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.86 against 2.6 in 2024; short-term debt: 33.9% and cash: 0.9% of total assets), but 82.4% of the assets are financed with debt.
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Signals
Five 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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€37,162
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 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
56 d early
2024
66 d early
2023
14 d early
2022
117 d early
2021
37 d late
2020
87 d early
2019
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 47 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€135,972▼ 21.5%
2024 · €173,134
Total assets
€772,946▼ 3.6%
2024 · €802,185
Net result
-€37,162▼ 957%
2024 · -€3,517
Working capital
€225,009▼ 23.0%
2024 · €292,099
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20212022202320242025
Operating result-€15,835▲ 93.2%€111,579€125,580▲ 12.5%€10,412▼ 91.7%-€20,038
Net result-€32,687below the sector's middle half▲ 87.2%€98,142within the sector's middle half€111,137within the sector's middle half▲ 13.2%-€3,517below the sector's middle half-€37,162below the sector's middle half▼ 957%
Equity-€32,628below the sector's middle half▲ 82.2%€65,514below the sector's middle half€176,651within the sector's middle half▲ 170%€173,134within the sector's middle half▼ 2.0%€135,972within the sector's middle half▼ 21.5%
Total assets€1.1mwithin the sector's middle half▲ 11.6%€894,746within the sector's middle half▼ 16.4%€833,455within the sector's middle half▼ 6.9%€802,185within the sector's middle half▼ 3.8%€772,946within the sector's middle half▼ 3.6%
Debt€1.1m▼ 3.5%€829,232▼ 24.8%€656,804▼ 20.8%€629,051▼ 4.2%€636,974▲ 1.3%
Working capital€322,960within the sector's middle half▲ 1,019%€220,418within the sector's middle half▼ 31.8%€238,217within the sector's middle half▲ 8.1%€292,099within the sector's middle half▲ 22.6%€225,009within the sector's middle half▼ 23.0%
Solvency-3.0%below the sector's middle half▲ 16.1pp7.3%below the sector's middle half▲ 10.4pp21.2%within the sector's middle half▲ 13.9pp21.6%within the sector's middle half▲ 0.4pp17.6%within the sector's middle half▼ 4.0pp
Current ratio2.52within the sector's middle half▲ 1.422.02within the sector's middle half▼ 0.492.17within the sector's middle half▲ 0.152.60within the sector's middle half▲ 0.431.86within the sector's middle half▼ 0.74
Return on assets (ROA)-3.1%below the sector's middle half▲ 23.6pp11.0%within the sector's middle half▲ 14.0pp13.3%above the sector's middle half▲ 2.4pp-0.4%below the sector's middle half▼ 13.8pp-4.8%below the sector's middle half▼ 4.4pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €20,038 after €10,412 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €772,946
Fixed assets
€286,003 ▼ 12.7%
Current assets
€486,943 ▲ 2.6%
Equity and liabilities €772,946
Equity
€135,972 ▼ 21.5%
Debt
€636,974 ▲ 1.3%
Debt's share of the balance-sheet total rises from 78.4% to 82.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€50,271▼
2024 · €78,177
Cash flow
€33,147▼
2024 · €64,249
Quick ratio
0.57▼
2024 · 0.73
Debt to equity
4.68▲
2024 · 3.63
ROE
-27.3%▼
2024 · -2.0%
Interest coverage
2.57▼
2024 · 3.89
Debt ≤ 1 year
€261,935▲
2024 · €182,561
Debt > 1 year
€366,073▼
2024 · €437,810
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,422 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
0.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,422 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €48 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €75,596 | €75,487 | €67,287 | €67,765 | €70,309 | ▲ 3.8% |
| Other operating charges640/8 | €1,458 | €2,565 | €2,198 | €3,454 | €3,356 | ▼ 2.8% |
| Gross operating margin9900 | €61,219 | €189,631 | €195,066 | €81,631 | €53,628 | ▼ 34.3% |
| Operating profit (loss)9901 | -€15,835 | €111,579 | €125,580 | €10,412 | -€20,038 | ▼ 292% |
| Financial income75/76B | €0 | €414 | €230 | €6,184 | €2,430 | ▼ 60.7% |
| Recurring financial income75 | €0 | €414 | €230 | €6,184 | €2,430 | ▼ 60.7% |
| Financial charges65/66B | €16,852 | €13,850 | €14,673 | €20,112 | €19,554 | ▼ 2.8% |
| Recurring financial charges65 | €16,852 | €13,850 | €14,673 | €20,112 | €19,554 | ▼ 2.8% |
| Profit (loss) for the period before taxes9903 | -€32,687 | €98,142 | €111,137 | -€3,517 | -€37,162 | ▼ 957% |
| Profit (loss) for the period9904 | -€32,687 | €98,142 | €111,137 | -€3,517 | -€37,162 | ▼ 957% |
| Profit (loss) for the period to be appropriated9905 | -€32,687 | €98,142 | €111,137 | -€3,517 | -€37,162 | ▼ 957% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €894,746 | €833,455 | €802,185 | €772,946 | ▼ 3.6% |
| Fixed assets21/28 | €534,474 | €458,987 | €391,700 | €327,525 | €286,003 | ▼ 12.7% |
| Intangible fixed assets21 | €72,400 | €60,296 | €48,192 | €36,088 | €24,139 | ▼ 33.1% |
| Tangible fixed assets22/27 | €457,075 | €393,691 | €338,508 | €286,438 | €261,864 | ▼ 8.6% |
| Plant, machinery and equipment23 | €10,339 | €1,556 | €44,315 | €33,761 | €28,115 | ▼ 16.7% |
| Furniture and vehicles24 | - | - | - | - | €15,804 | - |
| Leasing and similar rights25 | €62,605 | €52,974 | €0 | - | - | - |
| Other tangible fixed assets26 | €384,130 | €339,162 | €294,193 | €252,677 | €217,946 | ▼ 13.7% |
| Financial fixed assets28 | €5,000 | €5,000 | €5,000 | €5,000 | €0 | ▼ 100% |
| Current assets29/58 | €536,125 | €435,758 | €441,756 | €474,660 | €486,943 | ▲ 2.6% |
| Stocks and contracts in progress3 | €352,148 | €291,896 | €349,320 | €341,188 | €336,745 | ▼ 1.3% |
| Stocks30/36 | €352,148 | €291,896 | €349,320 | €341,188 | €336,745 | ▼ 1.3% |
| Amounts receivable within one year40/41 | €148,438 | €120,874 | €73,304 | €119,127 | €139,990 | ▲ 17.5% |
| Trade receivables40 | €147,161 | €113,253 | €71,920 | €100,055 | €119,787 | ▲ 19.7% |
| Other amounts receivable41 | €1,277 | €7,620 | €1,385 | €19,072 | €20,203 | ▲ 5.9% |
| Cash at bank and in hand54/58 | €26,479 | €15,963 | €12,432 | €6,425 | €6,780 | ▲ 5.5% |
| Deferred charges and accrued income490/1 | €9,060 | €7,025 | €6,699 | €7,920 | €3,428 | ▼ 56.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €894,746 | €833,455 | €802,185 | €772,946 | ▼ 3.6% |
| Equity10/15 | -€32,628 | €65,514 | €176,651 | €173,134 | €135,972 | ▼ 21.5% |
| Contributions10/11 | €650,000 | €650,000 | €650,000 | €650,000 | €650,000 | = |
| Profit (loss) carried forward14 | -€682,628 | -€584,486 | -€473,349 | -€476,866 | -€514,028 | ▼ 7.8% |
| Amounts payable17/49 | €1.1m | €829,232 | €656,804 | €629,051 | €636,974 | ▲ 1.3% |
| Amounts payable after more than one year17 | €881,382 | €605,211 | €444,585 | €437,810 | €366,073 | ▼ 16.4% |
| Financial debts170/4 | €410,713 | €357,010 | €311,660 | €270,200 | €224,617 | ▼ 16.9% |
| Other amounts payable178/9 | €470,670 | €248,201 | €132,925 | €167,610 | €141,456 | ▼ 15.6% |
| Amounts payable within one year42/48 | €213,165 | €215,340 | €203,539 | €182,561 | €261,935 | ▲ 43.5% |
| Current portion of amounts payable after more than one year42 | €69,275 | €53,384 | €45,350 | €43,910 | €45,583 | ▲ 3.8% |
| Financial debts43 | - | - | - | - | €48 | - |
| Credit institutions430/8 | - | - | - | - | €48 | - |
| Trade debts44 | €143,889 | €150,719 | €150,151 | €133,907 | €214,485 | ▲ 60.2% |
| Suppliers440/4 | €143,889 | €150,719 | €150,151 | €133,907 | €214,485 | ▲ 60.2% |
| Taxes, remuneration and social security45 | €0 | €11,237 | €8,038 | €4,744 | €1,818 | ▼ 61.7% |
| Taxes450/3 | €0 | €11,237 | €8,038 | €4,744 | €1,818 | ▼ 61.7% |
| Other amounts payable47/48 | €0 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | €8,680 | €8,680 | €8,680 | €8,680 | €8,967 | ▲ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,687 | €98,142 | €111,137 | -€3,517 | -€37,162 | ▼ 957% |
| + Depreciation and write-downs630 | €75,596 | €75,487 | €67,287 | €67,765 | €70,309 | ▲ 3.8% |
| Operating cash flow (approximation) | €42,909 | €173,629 | €178,425 | €64,249 | €33,147 | ▼ 48.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€3,591 | -€28,787 | ▼ 702% |
| Change in cash | - | -€10,516 | -€3,531 | -€6,008 | €355 | ▲ 106% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €111,137 ▲13.2%
Operating result €125,580, net result €111,137, both a record.
31-12
Financial
Equity above €150,000Eq €176,651 ▲170%
2 profitable years in a row build equity to €176,651.
05-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €98,142
Net result €98,142 after 4 loss-making years.
06-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 37 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 2.52
Current ratio from 1.10 to 2.52; short-term debt falls from €291,854 to €213,165.
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Gent · 2 establishment units since 2018
Ground area
3.2 ha
Building footprint
2.0 ha
Volume, LiDAR
253,047 m³
2 parcels, Flanders · tallest building 40.8 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
FRAPEJA PHARMA
since 20182.273.833.517
FRAPEJA PHARMA
since 20192.371.184.202
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0602/00T003 | Flanders | 3.2 ha | 1 · 2.0 ha | 40.8 m · 4 fl. |
| 44021A3292/00Z000 | Flanders | 138 m² | 1 · 138 m² | 14.6 m · 2 fl. |
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.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
50%
Holdings 1
-
33.33%
According to the 2024 annual accounts of FRAPEJA PHARMA and those 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
Flemish government
2025 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.273.833.517
Similar companies · same sector, comparable size
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BE 0437.411.206
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Laura Cufaro
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NUPKIES
BE 0735.694.223
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APOTHEEK BRACKE
BE 0479.976.883
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,550 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-09-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0562774303
Also
9925:BE0562774303
Registered
12-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.