Checked.be
Active
BE 0471.958.349Public limited company
LINAPO
Wolvendreef(LIN) 86 ·3210 Lubbeek, Belgium· 26 yrs active
Sector: Retail sale of pharmaceutical products
(47730)
Conclusion
LINAPO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.31M and a net result of €133k. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 87% of 9900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €2.31M |
| Net result | €133k |
| Staff (FTE) | 6.5 |
| Better than sector | 87% |
Financial profile
79
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
29
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2000, 26 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€200k
estimate, not credit advice
Score history
86
2022
83
2023
94
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 4.07 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.79 (≥ 1.0)
+5
Leverage
Debt/equity 0.28 (< 1.0)
+10
Profitability
ROE 6%
+3
Interest coverage
Interest coverage 12.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 10-06-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~5.2%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 77.8% | 37.6% | |
| Net result | €133k | €31k | |
| Equity | €2.31M | €261k | |
| Gross operating margin | €653k | €227k | |
| Staff costs | €311k | €159k |
€330k
-11.2%
22-25
€133k
-27.9%
22-25
€246k
-16.2%
22-25
€2.96M
+3.8%
22-25
€2.31M
+6.1%
22-25
€1.21M
-2.7%
22-25
7
+27.5%
22-25
€311k
+15.2%
22-25
€79k
-7.9%
22-25
€100k
-
22-25
€648k
-3.6%
22-25
€393k
-3.0%
22-25
€252k
-4.0%
22-25
4.07
+0.2%
22-25
2.79
-4.6%
22-25
77.8%
+2.3%
22-25
0.28
-9.1%
22-25
5.7%
-32.0%
22-25
4.5%
-30.5%
22-25
12.93
-23.6%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | €330k | €372k | €269k | €197k |
| Net profit | €133k | €184k | €59k | €99k |
| Cash flow | €246k | €293k | €222k | €187k |
| Staff costs | €311k | €270k | €371k | €381k |
| Income taxes | €79k | €86k | €45k | €28k |
| Dividends | - | - | €100k | - |
| Total assets | €2.96M | €2.86M | €2.57M | €2.46M |
| Equity | €2.31M | €2.17M | €1.99M | €2.03M |
| Debt | €648k | €672k | €571k | €416k |
| of which ≤ 1y | €393k | €406k | €290k | €379k |
| of which > 1y | €252k | €262k | €278k | €34k |
| Working capital | €1.21M | €1.24M | €996k | €1.09M |
| Employees (FTE) | 6.5 | 5.1 | 5.4 | 7.1 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 4.07 | 4.06 | 4.44 | 3.86 |
| Quick ratio | 2.79 | 2.92 | 2.91 | 2.75 |
| Working capital ratio | 40.7% | 43.4% | 38.7% | 44.1% |
| Solvency | 77.8% | 76.1% | 77.3% | 82.6% |
| Debt / equity | 0.28 | 0.31 | 0.29 | 0.20 |
| Long-term debt ratio | 0.11 | 0.12 | 0.14 | 0.02 |
| Interest coverage | 12.93 | 16.92 | 15.73 | 20.19 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 4.5% | 6.4% | 2.3% | 4.0% |
| ROE | 5.7% | 8.5% | 2.9% | 4.9% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €2.96M | €2.86M | €2.57M | €2.46M |
| Fixed assets | 21/28 | €1.36M | €1.21M | €1.29M | €995k |
| Tangible fixed assets | 22/27 | €1.35M | €1.20M | €1.29M | €992k |
| Financial fixed assets | 28 | €12k | €12k | €3k | €3k |
| Current assets | 29/58 | €1.60M | €1.65M | €1.29M | €1.47M |
| Stocks & contracts in progress | 3 | €503k | €460k | €442k | €424k |
| Amounts receivable within one year | 40/41 | €225k | €195k | €179k | €539k |
| Investments | 50/53 | €449k | €449k | - | - |
| Cash & bank | 54/58 | €327k | €442k | €554k | €390k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.96M | €2.86M | €2.57M | €2.46M |
| Equity | 10/15 | €2.31M | €2.17M | €1.99M | €2.03M |
| Contributions / capital | 10/11 | €257k | €257k | €257k | €257k |
| Reserves | 13 | €2.05M | €1.92M | €1.73M | €1.77M |
| Provisions & deferred taxes | 16 | €9k | €10k | €12k | €13k |
| Amounts payable | 17/49 | €648k | €672k | €571k | €416k |
| Amounts payable after one year | 17 | €252k | €262k | €278k | €34k |
| Amounts payable within one year | 42/48 | €393k | €406k | €290k | €379k |
| Trade debts payable within one year | 44 | €195k | €198k | €77k | €176k |
| Income statement | |||||
| Gross operating margin | 9900 | €653k | €651k | €651k | €587k |
| Operating result | 9901 | €217k | €262k | €105k | €109k |
| Financial income | 75 | €19k | €28k | €13k | €26k |
| Financial charges | 65 | €26k | €22k | €17k | €10k |
| Result before taxes | 9903 | €211k | €269k | €102k | €125k |
| Income taxes | 67/77 | €79k | €86k | €45k | €28k |
| Net result for the period | 9904 | €133k | €184k | €59k | €99k |
| Result to be appropriated | 9905 | €221k | €146k | €147k | €65k |
Legal Structure
| NACE primary | Retail sale of pharmaceutical products(47730) |
| Legal form | Public limited company(014) |
| Incorporation | 24-05-2000 |
| Status | Active |
| Postal code | 3210 |
Establishment units
Rozenveldstraat(LIN) 5, 3210 Lubbeek
since 20002.097.422.090
Linapo
since 20122.246.071.721
Real-estate footprint
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24063B0310/00L002 | Flanders | 964 m² | 1 · 114 m² | 10.6 m · 3 fl. |
| 24063B0038/00V004 | Flanders | 532 m² | 1 · 116 m² | 8.8 m · 2 fl. |
| 24063C0097/00Z003 | Flanders | 502 m² | 1 · 182 m² | 11.7 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €184k ▲214%
Operating result €262k, net result €184k, both a record.
31-12
Financial
Equity above €2MEq €2.17M ▲9.2%
3 profitable years in a row build equity to €2.17M.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €59k ▼41.1%
Net result drops to €59k, the lowest in the series; recovery starts the following year.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 17 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
2004
12-03
State Gazette act
Minor change
Officer designation
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 22 years ago
2004
12-03-2004 Publication in the Belgian Official Gazette, Minor change
Summary:
Officer designation
Technical details
{
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": null,
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2004-03-12",
"filing_date": "2003-06-07",
"act_kind_objet": "Ontslag, d\u00E9charge en benoeming bestuurders, gedelegeerd bestuurders en vaste vertegenwoordiger"
},
"decision": {
"body": "algemene_vergadering",
"date": "2003-06-07",
"unanimous": null
},
"agm_change": null,
"detected_kind": "officer_designation",
"other_address": null,
"mandate_renewal": null,
"subject_company": {
"kbo": "0471.958.349",
"name_full": "LINAPO",
"legal_form": "NV"
},
"accounts_deposit": null,
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null
},
"co_filed_documents": [],
"fiscal_year_change": null,
"liquidation_closure": null,
"officer_designation": null,
"special_procuration": null,
"is_volet_a_only_stub": true,
"vakbekwaamheid_change": null,
"should_reroute_to_category": null,
"single_shareholder_declaration": null
}Credit advice
Company registry (CBE)
Activities
Retail sale of pharmaceutical products4773052310
Names & trade names
| Legal nameNL | LINAPO |
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