KLINIFARM
ActiveSummary
KLINIFARM has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €400,612 and a net result of -€44,856. Equity remains stable across the filed fiscal years (±1% per year). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability7▼-2
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 3.65 against 6.36 in 2025; short-term debt: 17.8% and cash: 0.8% of total assets), and 17.8% of the assets are financed with debt.
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Signals
Four 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026Net result per financial year
1920212223242526
2019 to 2026 · latest year -€44,856
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 24-09-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
37 d early
2025
45 d early
2024
30 d early
2023
29 d early
2022
28 d early
2021
19 d early
2020
23 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 30 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, micro schema
In the rankings
#2 oldest company in Limburg, Research and development sector
Equity
€400,612▼ 24.5%
2025 · €530,704
Total assets
€487,335▼ 17.5%
2025 · €590,926
Net result
-€44,856▲ 4.0%
2025 · -€46,709
Working capital
€229,757▼ 28.6%
2025 · €321,852
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 72, Scientific research and development, 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
Line20222023202420252026
Operating result€94,096▲ 10.6%€97,500▲ 3.6%€74,712▼ 23.4%-€54,435-€49,842▲ 8.4%
Net result€65,136within the sector's middle half▲ 9.1%€64,816within the sector's middle half▼ 0.5%€66,963within the sector's middle half▲ 3.3%-€46,709below the sector's middle half-€44,856▲ 4.0%
Equity€575,439above the sector's middle half▲ 12.8%€599,816above the sector's middle half▲ 4.2%€637,374above the sector's middle half▲ 6.3%€530,704above the sector's middle half▼ 16.7%€400,612▼ 24.5%
Total assets€610,691within the sector's middle half▲ 1.5%€688,716above the sector's middle half▲ 12.8%€689,545above the sector's middle half▲ 0.1%€590,926within the sector's middle half▼ 14.3%€487,335▼ 17.5%
Debt€35,252▼ 61.4%€88,900▲ 152%€52,171▼ 41.3%€60,222▲ 15.4%€86,723▲ 44.0%
Working capital€364,020▲ 17.9%€340,910▼ 6.3%€398,411▲ 16.9%€321,852▼ 19.2%€229,757▼ 28.6%
Solvency94.2%above the sector's middle half▲ 9.4pp87.1%above the sector's middle half▼ 7.1pp92.4%above the sector's middle half▲ 5.3pp89.8%above the sector's middle half▼ 2.6pp82.2%▼ 7.6pp
above
within
below
the middle half (P25 to P75) of NACE 72, Scientific research and development, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €49,842 in 2026 against €54,435 in 2025; the loss shrinks.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €487,335
Fixed assets
€170,985 ▼ 18.2%
Current assets
€316,350 ▼ 17.2%
Equity and liabilities €487,335
Equity
€400,612 ▼ 24.5%
Debt
€86,723 ▲ 44.0%
Debt's share of the balance-sheet total rises from 10.2% to 17.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€4,557▲
2025 · -€10,450
Cash flow
€429▲
2025 · -€2,725
Current ratio
3.65▼
2025 · 6.36
Debt to equity
0.22▲
2025 · 0.11
ROE
-11.2%▼
2025 · -8.8%
ROA
-9.2%▼
2025 · -7.9%
Interest coverage
-24.79▼
2025 · -13.91
Debt ≤ 1 year
€86,593▲
2025 · €60,079
Income taxes
€467▲
2025 · €450
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 8,594 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,692 | €47,134 | €41,801 | €43,984 | €45,285 | ▲ 3.0% |
| Other operating charges640/8 | €2,497 | €2,586 | €2,826 | €2,859 | €3,063 | ▲ 7.1% |
| Non-recurring operating charges66A | €6,174 | €0 | - | - | - | - |
| Gross operating margin9900 | €144,460 | €147,220 | €119,338 | -€7,591 | -€1,493 | ▲ 80.3% |
| Operating profit (loss)9901 | €94,096 | €97,500 | €74,712 | -€54,435 | -€49,842 | ▲ 8.4% |
| Financial income75/76B | - | €221 | €8,263 | €8,927 | €5,637 | ▼ 36.9% |
| Recurring financial income75 | - | €221 | €8,263 | €8,927 | €5,637 | ▼ 36.9% |
| Financial charges65/66B | €2,866 | €5,875 | -€4,877 | €751 | €184 | ▼ 75.5% |
| Recurring financial charges65 | €2,866 | €5,875 | -€4,877 | €751 | €184 | ▼ 75.5% |
| Profit (loss) for the period before taxes9903 | €91,231 | €91,846 | €87,852 | -€46,259 | -€44,389 | ▲ 4.0% |
| Income taxes67/77 | €26,095 | €27,030 | €20,889 | €450 | €467 | ▲ 3.7% |
| Profit (loss) for the period9904 | €65,136 | €64,816 | €66,963 | -€46,709 | -€44,856 | ▲ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €65,136 | €64,816 | €66,963 | -€46,709 | -€44,856 | ▲ 4.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €610,691 | €688,716 | €689,545 | €590,926 | €487,335 | ▼ 17.5% |
| Fixed assets21/28 | €211,418 | €258,906 | €238,963 | €208,995 | €170,985 | ▼ 18.2% |
| Tangible fixed assets22/27 | €211,418 | €258,906 | €238,963 | €208,995 | €170,985 | ▼ 18.2% |
| Land and buildings22 | €195,589 | €255,423 | €236,726 | €207,877 | €170,941 | ▼ 17.8% |
| Furniture and vehicles24 | €15,830 | €3,483 | €2,237 | €1,118 | €45 | ▼ 96.0% |
| Current assets29/58 | €399,273 | €429,810 | €450,582 | €381,931 | €316,350 | ▼ 17.2% |
| Amounts receivable within one year40/41 | €24,454 | €27,839 | €0 | €12,464 | €1,224 | ▼ 90.2% |
| Trade receivables40 | €24,454 | €27,839 | €0 | - | - | - |
| Other amounts receivable41 | - | - | - | €12,464 | €1,224 | ▼ 90.2% |
| Current investments50/53 | €38,464 | €33,695 | €319,102 | €325,584 | €309,510 | ▼ 4.9% |
| Cash at bank and in hand54/58 | €333,766 | €365,630 | €129,668 | €42,151 | €3,733 | ▼ 91.1% |
| Deferred charges and accrued income490/1 | €2,590 | €2,645 | €1,812 | €1,732 | €1,884 | ▲ 8.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €610,691 | €688,716 | €689,545 | €590,926 | €487,335 | ▼ 17.5% |
| Equity10/15 | €575,439 | €599,816 | €637,374 | €530,704 | €400,612 | ▼ 24.5% |
| Contributions10/11 | €282,400 | €282,400 | €282,400 | €282,400 | €282,400 | = |
| Reserves13 | €292,421 | €316,799 | €287,394 | €227,433 | €133,842 | ▼ 41.2% |
| Non-distributable reserves130/1 | €16,250 | €16,250 | €16,250 | €0 | - | - |
| Reserves not available under the articles1311 | €16,250 | €16,250 | €16,250 | €0 | - | - |
| Tax-exempt reserves132 | €3,890 | €3,890 | €3,890 | €3,890 | €3,890 | = |
| Distributable reserves133 | €272,281 | €296,659 | €267,254 | €223,543 | €129,952 | ▼ 41.9% |
| Profit (loss) carried forward14 | €618 | €618 | €67,580 | €20,871 | -€15,630 | ▼ 175% |
| Amounts payable17/49 | €35,252 | €88,900 | €52,171 | €60,222 | €86,723 | ▲ 44.0% |
| Amounts payable within one year42/48 | €35,252 | €88,900 | €52,171 | €60,079 | €86,593 | ▲ 44.1% |
| Trade debts44 | €552 | €12,089 | €1,075 | €119 | €437 | ▲ 268% |
| Suppliers440/4 | €552 | €12,089 | €1,075 | €119 | €437 | ▲ 268% |
| Taxes, remuneration and social security45 | €10,295 | €11,230 | €3,219 | €0 | - | - |
| Taxes450/3 | €10,295 | €11,230 | €3,219 | €0 | - | - |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €24,406 | €65,581 | €47,877 | €59,960 | €86,156 | ▲ 43.7% |
| Accrued charges and deferred income492/3 | - | - | - | €143 | €130 | ▼ 9.2% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,136 | €64,816 | €66,963 | -€46,709 | -€44,856 | ▲ 4.0% |
| + Depreciation and write-downs630 | €41,692 | €47,134 | €41,801 | €43,984 | €45,285 | ▲ 3.0% |
| Operating cash flow (approximation) | €106,828 | €111,951 | €108,763 | -€2,725 | €429 | ▲ 116% |
| Investment in fixed assets (approximation) | - | -€94,622 | -€21,857 | -€14,017 | -€7,275 | ▲ 48.1% |
| Change in cash | - | €31,865 | -€235,962 | -€87,517 | -€38,419 | ▲ 56.1% |
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 2027, expected by
2026
24-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet -€46,709
Net result drops to -€46,709, the lowest in the series; recovery starts the following year.
2024
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Highest result since 2019net €66,963 ▲3.3%
Net result €66,963, the highest in the series.
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Liquidity triplescurrent ratio 11.33
Current ratio from 4.38 to 11.33; short-term debt falls from €91,411 to €35,252.
2021
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
14-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hasselt · 1 establishment unit since 1988
Ground area
1,203 m²
Building footprint
266 m²
Volume, LiDAR
1,445 m³
Parcel 71323C0985/00K000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KLINIFARM
since 19882.038.876.949
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71323C0985/00K000 | Flanders | 1,203 m² | 1 · 266 m² | 9.0 m · 2 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.
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Of 1,177 companies in sector 72109 we hold annual accounts for 714. 492 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
Founded29-04-1988
Fiscal year end31-03
Activities, NACEBEL 2025
72109Other research and development on natural sciences
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434190014
Registered
17-07-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.