L - PHARMA
ActiveSummary
L - PHARMA has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€509,185) and a net result of -€3,853. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 5% of 50 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Age of the figures
Age of the figures
9 mo
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 21
Relative position
BE, all sectors
reference
Manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21)
about 14% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€509,185
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
32 d early
2022
31 d late
2021
44 d early
2020
31 d late
2019
on the day
← 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 2 days before the deadline; the sector median for financial year 2024 is 9 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 31-12-2026 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
Equity
-€509,185▼ 0.8%
2024 · -€505,332
Total assets
€10▼ 89.7%
2024 · €96
Net result
-€3,853▼ 139%
2024 · -€1,613
Working capital
-€9,185▼ 72.3%
2024 · -€5,332
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, 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€10,143▼ 23.2%€765▼ 92.5%-€21-€1,575▼ 7,230%-€3,834▼ 144%
Net result€10,102within the sector's middle half▼ 23.3%€720within the sector's middle half▼ 92.9%-€68within the sector's middle half-€1,613within the sector's middle half▼ 2,279%-€3,853within the sector's middle half▼ 139%
Equity-€504,371below the sector's middle half▲ 2.0%-€503,651below the sector's middle half▲ 0.1%-€503,719below the sector's middle half=-€505,332below the sector's middle half▼ 0.3%-€509,185below the sector's middle half▼ 0.8%
Total assets€1,353below the sector's middle half▼ 66.9%€610below the sector's middle half▼ 54.9%€489below the sector's middle half▼ 19.8%€96below the sector's middle half▼ 80.4%€10below the sector's middle half▼ 89.7%
Debt€505,724▼ 2.5%€504,261▼ 0.3%€504,208=€505,428▲ 0.2%€509,194▲ 0.7%
Working capital€316within the sector's middle half-€3,844within the sector's middle half-€3,792within the sector's middle half▲ 1.4%-€5,332within the sector's middle half▼ 40.6%-€9,185within the sector's middle half▼ 72.3%
Current ratio
Return on assets (ROA)
above
within
below
the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, 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 €3,834 in 2025 against €1,575 in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
Debt ≤ 1 year
€9,194▲
2024 · €5,428
Debt > 1 year
€500,000=
2024 · €500,000
Ratios withheld: a balance sheet total of €10 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,662 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 6,639 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €140 | €120 | €120 | €73 | - | - |
| Other operating charges640/8 | €191 | €192 | €199 | €208 | €120 | ▼ 42.3% |
| Gross operating margin9900 | €10,474 | €1,077 | €298 | -€1,294 | -€3,714 | ▼ 187% |
| Operating profit (loss)9901 | €10,143 | €765 | -€21 | -€1,575 | -€3,834 | ▼ 144% |
| Financial income75/76B | - | - | - | - | €9 | - |
| Recurring financial income75 | - | - | - | - | €9 | - |
| Financial charges65/66B | €41 | €45 | €46 | €39 | €27 | ▼ 28.9% |
| Recurring financial charges65 | €41 | €45 | €46 | €39 | €27 | ▼ 28.9% |
| Profit (loss) for the period before taxes9903 | €10,102 | €720 | -€68 | -€1,613 | -€3,853 | ▼ 139% |
| Profit (loss) for the period9904 | €10,102 | €720 | -€68 | -€1,613 | -€3,853 | ▼ 139% |
| Profit (loss) for the period to be appropriated9905 | €10,102 | €720 | -€68 | -€1,613 | -€3,853 | ▼ 139% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1,353 | €610 | €489 | €96 | €10 | ▼ 89.7% |
| Fixed assets21/28 | €313 | €193 | €73 | - | - | - |
| Tangible fixed assets22/27 | €313 | €193 | €73 | - | - | - |
| Furniture and vehicles24 | €313 | €193 | €73 | - | - | - |
| Current assets29/58 | €1,040 | €417 | €416 | €96 | €10 | ▼ 89.7% |
| Amounts receivable within one year40/41 | - | €400 | €250 | - | - | - |
| Trade receivables40 | - | €400 | - | - | - | - |
| Other amounts receivable41 | - | - | €250 | - | - | - |
| Cash at bank and in hand54/58 | €1,040 | €17 | €166 | €96 | €10 | ▼ 89.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1,353 | €610 | €489 | €96 | €10 | ▼ 89.7% |
| Equity10/15 | -€504,371 | -€503,651 | -€503,719 | -€505,332 | -€509,185 | ▼ 0.8% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Capital10 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Issued capital100 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Reserves13 | €26,029 | - | - | - | - | - |
| Distributable reserves133 | €26,029 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€604,768 | -€578,019 | -€578,087 | -€579,700 | -€583,553 | ▼ 0.7% |
| Amounts payable17/49 | €505,724 | €504,261 | €504,208 | €505,428 | €509,194 | ▲ 0.7% |
| Amounts payable after more than one year17 | €505,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Financial debts170/4 | €505,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Amounts payable within one year42/48 | €724 | €4,261 | €4,208 | €5,428 | €9,194 | ▲ 69.4% |
| Trade debts44 | - | €826 | €1,093 | €1,363 | €2,013 | ▲ 47.7% |
| Suppliers440/4 | - | €826 | €1,093 | €1,363 | €2,013 | ▲ 47.7% |
| Other amounts payable47/48 | €724 | €3,435 | €3,115 | €4,065 | €7,182 | ▲ 76.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,102 | €720 | -€68 | -€1,613 | -€3,853 | ▼ 139% |
| + Depreciation and write-downs630 | €140 | €120 | €120 | €73 | - | - |
| Operating cash flow (approximation) | €10,242 | €840 | €52 | -€1,540 | -€3,853 | ▼ 150% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | -€1,023 | €149 | -€70 | -€86 | ▼ 22.4% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€3,853
Net result drops to -€3,853, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 1.44
Current ratio from 0.47 to 1.44; short-term debt falls from €8,556 to €724.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €13,174
Net result €13,174 after 2 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Turnhout · 1 establishment unit since 1994
Ground area
1.0 ha
Building footprint
270 m²
Volume, LiDAR
3,644 m³
Parcel 13454R0153/00P000, Flanders · tallest building 16.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
L - PHARMA
since 19942.069.461.643
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13454R0153/00P000 | Flanders | 1.0 ha | 1 · 270 m² | 16.3 m · 5 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 148 companies in sector 21201 we hold annual accounts for 118. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
21201Manufacture of basic pharmaceutical products and pharmaceutical preparations
46460Wholesale of pharmaceutical and medical goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453967027
Also
9925:BE0453967027
Registered
19-09-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.