Equity
€15,747 from €71,242 in 2024
Equity fell by 78% in 1 year.
MF PHARMA
Lifetime
4 annual accounts with figures on one time axispeak €58,808 (2024)
€55,691▼ 5.3%
peak €39,953 (2024)
€34,505▼ 13.6%
peak €71,242 (2024)
€15,747▼ 77.9%
€80,282▲ 210%
Board1 name since 2022
1 directorFISETTE Margaux Marie Camille
Documentsfilings and deeds
14-04-2026108 days before the deadline
2025micro format
Dividend €90,000Equity from €71,242 to €15,747Debts from €25,923 to €80,282
Key points
from the 2025 annual accountsTurnover
≈ €270,000 estimated
The micro format states no turnover.
Debts
€80,282 84% of the balance sheet
Suppliers 1%Taxes and wages 30%Other 69%
Liquidity
1.17 was 3.62 in 2024
Short-term debts rose from €24,169 to €80,282.
Filings
4 annual accounts since 2022
The last four annual accounts were filed 20 to 108 days before the end of the period.
Position in the sector
€34,505
Higher net result than 82% of companies in retail trade. Sector median €5,051 · 22,892 companies.
Checked score
67
Healthy
Financially stronger than 49% of micro companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,271 companies (NACE 47, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.1 percentage points vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.2%▼ -0.2 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.1%▼ -0.1 percentage points vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.4%▲ +0.3 percentage points vs 03-2026
05-2026: 1.0%▲ +0.6 percentage points vs 04-2026highest value
06-2026: 0.9%▼ -0.1 percentage points vs 05-2026
07-2026: 0.9%● unchanged vs 06-2026
08-2026: 0.9%● unchanged vs 07-2026
09-2026: 0.9%● unchanged vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Founded in 2022
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 1.17, cash €74,094
Figures for financial year 2025 (filed on 16-04-2026)
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 47, micro). It does better than 32% of them on solvency, 59% on liquidity, 96% on profitability and 7% 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 low class on 30-06-2025, 0.8% 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, 7,976 companies had the same profile as MF PHARMA has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MF PHARMA itself: 0.9% 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 7,976 companies, not a prediction for MF PHARMA. 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 €1,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.17 (3.62 in 2024), below the usual 1.5. Short-term debt is 83.6% and cash 77.2% of total assets. 83.6% 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
Five signals.
lowers riskraises riskneutral
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 14-04-2026, 108 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
108 days early
2024
21 days early
2023
21 days early
2022
20 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 43 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% 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 11 July (3 of the last 4 accounts filed within 30 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
Recent changes
Registered office moved from Liège to LIEGE Quai de Rome
New registered office: 4000 LIEGE Quai de Rome 48/51 · Previous registered office: Au pèrî 24-4000 LIEGE · Board meeting of 03-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0790439043
First establishment
Quai de Rome 48/51, Liège
Incorporation
Founding capital of €2,000, 100 shares · Founder: FISETTE Margaux Marie Camille · Appointment: FISETTE Margaux Marie Camille (director) · published on 07-09-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MF PHARMA Liège | €96,029 | €55,691 | 16.4% | - |
| BSB PHARMA Berchem-Sainte-Agathe | €118,927 | €51,324 | 67.2% | - |
| Bartholomees Evaline Pelt | €120,179 | €52,717 | 92.9% | - |
| FarmaST Zonhoven | €107,177 | €43,964 | 90.1% | - |
| API PHARMA Liège | €116,460 | €52,678 | 59.7% | - |
| LN PHARMA CONSULTING Seraing | €94,232 | €62,661 | 12.2% | - |
| NOVAPLEX Modave | €119,122 | €52,898 | 77.1% | - |
These companies have the same main activity as MF PHARMA: retail sale of pharmaceutical products (NACE 47730). They are comparable in size and age: total assets between €94,200 and €120,000, founded between 2020 and 2024.
Official details
Source: KBO- Status
- Active since 05-09-2022Normal situation
- Activity
- Retail sale of pharmaceutical productsNACE 47730and 5 others
- Establishment unit
- 2.336.552.0344000 Liège, since 01-10-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 23-10-2025
Annual accounts 2025
- €96,029▼ 1.2%
- Filing
- Filed on 14-04-2026, 108 days before the end of the filing period
Insights on MF PHARMA
MF PHARMA files the micro format. That format states no turnover. The gross margin rose from €8,811 in 2022 to €55,691 in 2025.
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 MF PHARMA
- What is the company number of MF PHARMA?
- The company number of MF PHARMA is 0790.439.043. The VAT number is the same number with BE in front: BE 0790.439.043.
- Where is MF PHARMA based?
- The registered office is at Quai de Rome 48, 4000 Liège.Company details
- What does MF PHARMA do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of MF PHARMA?
- MF PHARMA is a private limited company (BV).
- When was MF PHARMA founded?
- MF PHARMA was founded on 05-09-2022.
- Is MF PHARMA still active?
- Yes, MF PHARMA is an active enterprise in the KBO register.
- What is the turnover of MF PHARMA?
- The turnover in financial year 2025 is ≈ €270,000. This figure is estimated from the gross margin of €55,691 and 45 comparable companies (NACE 477). It probably lies between €140,000 and €360,000.Financials
- Is MF PHARMA profitable?
- In financial year 2025, MF PHARMA made a profit of €34,505.
- Where can I find the annual accounts of MF PHARMA?
- MF PHARMA filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MF PHARMA due?
- MF PHARMA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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