Losses
-€5.8m in five years
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Inteliphage
Lifetime
7 annual accounts with figures on one time axispeak €437,594 (2025)
€437,594▲ 36.8%
lowest -€2.0m (2025)
-€2.0m▼ €904,180
peak €3.2m (2025)
€3.2m▲ 96.5%
€9.5m▲ 53.5%
peak 16.1 FTE (2025)
16.1 FTE▲ 33.1%
Board13 names since 2021all names
4 directorsAnjac SAS and 3 others
Documentsfilings and deeds
13-07-202618 days before the deadline
2025abbreviated format
Gross margin from €319,954 to €437,594Loss of €2.0mStaff from 12.1 FTE to 16.1 FTE2 directors appointed, 4 resignations 12-12Registered office moved from Mont-Saint-Guibert to Ottignies-… 24-01Equity from €1.6m to €3.2m
Key points
from the 2025 annual accountsDebts
€9.5m 75% of the balance sheet
Financial debts 89%Suppliers 6%Taxes and wages 3%Other 2%
Of this, €1.0m falls due within a year.
Investments
€3.7m 23.6 × depreciation
Green is investment, beige is depreciation. Machinery stands 62.9% higher than in 2024.
Liquidity
2.13 was 0.13 in 2024
Short-term debts fell from €6.2m to €1.0m.
At the same address
31 companies
Position in the sector
-€2.0m
Lower net result than 93% of companies in pharmaceuticals. Sector median -€11,123 · 62 companies.
Net result -81%: other schema
Checked score
53
Fair
Financially stronger than 48% of small companies in pharmaceuticals (NACE 21)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.4% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 44 companies (NACE 21, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 8.8%highest value
01-2025: 2.2%▼ -6.6 percentage points vs 12-2024lowest value
02-2025: 6.0%▲ +3.8 percentage points vs 01-2025
03-2025: 6.0%● unchanged vs 02-2025
04-2025: 6.1%▲ +0.1 percentage points vs 03-2025
05-2025: 5.9%▼ -0.2 percentage points vs 04-2025
06-2025: 6.1%▲ +0.2 percentage points vs 05-2025
07-2025: 6.1%● unchanged vs 06-2025
08-2025: 3.4%▼ -2.7 percentage points vs 07-2025
09-2025: 4.0%▲ +0.6 percentage points vs 08-2025
10-2025: 6.8%▲ +2.8 percentage points vs 09-2025
11-2025: 4.8%▼ -2.0 percentage points vs 10-2025
12-2025: 4.8%● unchanged vs 11-2025
01-2026: 4.8%● unchanged vs 12-2025
02-2026: 4.8%● unchanged vs 01-2026
03-2026: 4.7%▼ -0.1 percentage points vs 02-2026
04-2026: 4.9%▲ +0.2 percentage points vs 03-2026
05-2026: 5.4%▲ +0.5 percentage points vs 04-2026
06-2026: 5.6%▲ +0.2 percentage points vs 05-2026
07-2026: 5.8%▲ +0.2 percentage points vs 06-2026
08-2026: 2.4%▼ -3.4 percentage points vs 07-2026
09-2026: 2.4%● unchanged vs 08-2026
10-2026: 2.4%● unchanged vs 09-2026
11-2026: 2.4%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €2.0m, the second in a row (financial year 2025)
2 of the last 3 accounts late
1 change of registered office in 24 months
lowers risk
Size: turnover €22,546, 16.1 FTE, total assets €12.6m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 21, small). It does better than 16% of them on solvency, 73% on liquidity, 14% on profitability and 89% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 122 companies had the same profile as Inteliphage has now. Each dot is one company, two years later.
85.2%
were still trading
4.9%
stopped another way
6.6%
went bankrupt
Another 3.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Inteliphage itself: 2.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 122 companies, not a prediction for Inteliphage. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €2,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 2.13 (0.13 in 2024), above the usual 1.5. Short-term debt is 8% and cash 4.7% of total assets. However, 74.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €3.2m
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 13-07-2026, 18 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
18 days early
2024
85 days late
2023
119 days late
2022
114 days late
2021
71 days late
2020
30 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 62 days after the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 October (4 of the last 5 accounts filed within 35 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
C
CENTIVIA
Managing director, Charles PERRARD
AS
Anjac SAS
Director, since 02-09-2025
- VESALE INVEST,SLU all the sharesdeed of 24-06-2021
Recent changes
New establishment in Charleroi
Rue Auguste Piccard 48
Reappointment: Deloitte réviseur d'entreprises SRL (statutory auditor)
General meeting of 20-11-2024 · Gazette deed
Appointment: RAUEL Sylvie (director)
5,650,414 new shares · 62,500 new shares · 400,000 new shares · General meeting of 24-12-2025 · Gazette deed
2 directors appointed, 4 resignations
Resignations: Jérome MAJOIE (chair of the board), Gunther VANWEZER (managing director), Mehdi EL GLAOUI and Guillaume de VIRON · Appointments: Emmanuel CAEYMAEX (chair of the board) and CENTIVIA (managing director) · Permanent representatives: Charles PERRARD and Emmanuelle RAILLARD-LABBE · Board meeting of 02-09-2025 · Gazette deed
Comparable companies
same main activity, the nearest in size| Company | ||||
|---|---|---|---|---|
| Inteliphage Ottignies-Louvain-la-Neuve | €0.02m | - | 25.2% | 16.1 |
| Perseus Biomics Leuven | - | - | 39.2% | 14.3 |
| SECOYA Technologies Ottignies-Louvain-la-Neuve | - | - | 9.2% | 5.5 |
| MY®HEALTH Lummen | - | - | 23.9% | 12.2 |
| MeiraGTx Belgium Ghent | - | - | 13.9% | 5.5 |
| Curium PET Liège Liège | €2.8m | -22.9% | -145.4% | 12.2 |
| SPARK CRC Waasmunster | - | - | 26.1% | - |
These companies have the same main activity as Inteliphage: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21100). They are smaller than Inteliphage: total assets between €1.9m and €5.2m, founded between 2016 and 2021.
Official details
Source: KBO- Status
- Active since 27-03-2018Normal situation
- Registered office
- 32 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 8 November 2026.
- Activity
- Manufacture of basic pharmaceutical products and pharmaceutical preparationsNACE 21100and 1 other
- Joint committee
- 207White-collar workers in the chemical industry · annual accounts 2024
- Establishment units
- 2.336.719.9041120 Brussels, since 01-10-2022
- 2.340.314.9411348 Ottignies-Louvain-la-Neuve, since 01-02-2023and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 04-12-2025
Annual accounts 2025
- €12.6m▲ 62.5%
- Employeeson 31-12-2025
- 20▲ 66.7%
- Filing
- Filed on 13-07-2026, 18 days before the end of the filing period
Insights on Inteliphage
Inteliphage files the abbreviated format. That format states no turnover. The gross margin rose from €91,346 in 2019 to €437,594 in 2025.
In June 2025, four directors stepped down. In December 2025, the Official Gazette published the appointment of CENTIVIA as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Inteliphage
- What is the company number of Inteliphage?
- The company number of Inteliphage is 0692.975.522. The VAT number is the same number with BE in front: BE 0692.975.522.
- Where is Inteliphage based?
- The registered office is at Avenue Jean Monnet 1, 1348 Ottignies-Louvain-la-Neuve.Company details
- What does Inteliphage do?
- According to the KBO register, the main activity is manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21100).
- What is the legal form of Inteliphage?
- Inteliphage is a private limited company (BV).
- When was Inteliphage founded?
- Inteliphage was founded on 27-03-2018.
- Is Inteliphage still active?
- Yes, Inteliphage is an active enterprise in the KBO register.
- How many employees does Inteliphage have?
- Inteliphage had an average of 16.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Inteliphage fall under?
- In its 2024 annual accounts, Inteliphage states joint committee 207 (White-collar workers in the chemical industry).
- What is the turnover of Inteliphage?
- The turnover of Inteliphage was €22,546 in financial year 2025, according to the filed annual accounts.
- Is Inteliphage profitable?
- In financial year 2025, Inteliphage made a loss of €2.0m.
- Where can I find the annual accounts of Inteliphage?
- Inteliphage filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Inteliphage due?
- Inteliphage must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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