MICROBELCAPS

Active Public limited companyfounded 1995active for 31 yearsAllée des Noisetiers 2, 4031 LiègeKBO/BCE: BE 0454.591.191 #4 oldest company in the province of Liège, Pharmaceuticals sector

MICROBELCAPS

Financial year 2025

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Annual accounts 2025

full format, filed on 08-07-2026, 23 days before the deadline

€595,134

▼ 35.1%

€17,658

▼ 92.1%

€61,847

▼ 76.4%

€53,214

▼ 73.1%

69.5%

▲ 11.1 percentage points

3.25

▲ 0.80

In the rankings #4 oldest company in the province of Liège, Pharmaceuticals sector

Money flows

of every €100 of turnover, €1.52 remains as profit in 2025

Balance sheet

balance sheet total €827,054 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

69.5%

Higher than 75% of 95 companies in 2025.

3.25

Higher than 81% of 94 companies in 2025.

1.1%

Higher than 31% of 95 companies in 2025.

MICROBELCAPS Middle half of the sector 80% of the sector Full accounts in pharmaceuticals (NACE 21)

Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half · Staff: bottom quarter

Staff

€63,738

Staff costs divided by the average number of full-time equivalents.

+1 person

people who joined people who left

In 2025, 17 people joined and 16 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	827,054	968,502	967,941	998,233	796,195	985,761	800,127	927,607	1.6m	1.7m	2.0m	1.7m	500,269	765,937	553,813	809,209	615,589	614,156	465,218	455,905
`21/28`	395,882	392,653	421,782	462,501	502,466	524,427	539,806	576,904	617,446	659,120	699,360	675,123	30,130	48,228	75,216	102,668	146,677	184,185	157,812	165,504
`21`	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	646	22,819	43,053	-	-
`22/27`	395,733	392,504	421,633	462,352	502,317	524,278	539,657	576,755	617,297	658,971	699,211	674,974	22,037	43,711	65,250	92,365	114,201	137,674	157,663	165,355
`22`	350,448	378,992	407,538	436,082	464,626	493,171	521,715	550,260	578,805	607,349	635,894	664,439	-	-	-	-	-	-	-	-
`23`	45,285	13,121	13,235	23,808	34,860	26,578	16,284	22,396	36,116	50,003	60,429	7,696	21,818	43,274	62,353	87,645	112,565	134,791	157,000	164,896
`24`	-	391	860	2,462	2,831	4,529	1,658	4,099	2,376	1,619	2,888	2,839	219	437	2,897	4,720	1,636	2,883	663	459
`28`	149	149	149	149	149	149	149	149	149	149	149	149	8,093	4,517	9,966	9,657	9,657	3,458	149	149
`29/58`	431,172	575,849	546,159	535,732	293,729	461,334	260,321	350,703	977,862	1.1m	1.3m	999,536	470,139	717,709	478,597	706,541	468,912	429,971	307,406	290,401
`3`	81,782	81,218	90,552	143,405	123,046	94,322	91,808	91,314	589,150	204,068	522,100	392,512	67,231	553,230	310,616	202,279	129,408	45,400	4,643	14,945
`30/36`	81,782	81,218	90,552	143,405	123,046	94,322	91,808	91,314	589,150	204,068	522,100	392,512	67,231	553,230	310,616	202,279	129,408	45,400	4,643	14,945
`40/41`	165,108	170,678	142,691	48,090	98,360	105,162	16,597	32,986	90,999	383,746	643,621	206,882	13,785	113,967	61,431	489,605	271,484	361,305	270,276	231,013
`40`	146,373	145,382	110,255	21,090	97,911	105,162	16,597	1,702	8,675	243,754	269,964	22,450	10,565	7,250	14,047	489,605	254,141	361,305	259,528	231,013
`41`	18,735	25,296	32,436	27,000	449	-	-	31,284	82,324	139,992	373,657	184,432	3,220	106,717	47,384	-	17,343	-	10,748	-
`50/53`	343	343	343	343	343	343	343	346	6,043	6,044	350	349	349	825	814	807	798	788	786	776
`54/58`	166,308	309,521	291,799	315,223	34,238	215,106	67,310	122,017	167,916	345,528	17,630	209,152	381,782	38,320	105,736	13,850	67,011	21,261	28,679	38,071
`490/1`	17,631	14,089	20,774	28,671	37,742	46,401	84,263	104,040	123,754	145,273	165,612	190,641	6,992	11,367	-	-	211	1,217	3,022	5,596
Balance sheet: equity and liabilities
`10/49`	827,054	968,502	967,941	998,233	796,195	985,761	800,127	927,607	1.6m	1.7m	2.0m	1.7m	500,269	765,937	553,813	809,209	615,589	614,156	465,218	455,905
`10/15`	574,618	565,593	486,509	425,808	345,795	332,136	275,278	266,994	221,533	218,212	230,982	211,268	181,240	139,173	120,796	117,363	108,307	106,955	105,050	79,735
`10/11`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
`10`	62,000	62,000	62,000	62,000	62,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
`13`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
`130/1`	6,200	6,200	6,200	6,200	6,200	6,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
`14`	506,418	497,393	418,309	357,608	277,595	263,936	207,078	198,794	153,333	150,012	162,782	143,068	113,040	70,973	52,596	49,163	40,107	38,755	36,850	11,535
`17/49`	252,436	402,909	481,432	572,425	450,400	653,625	524,849	660,613	1.4m	1.5m	1.8m	1.5m	319,029	626,764	433,017	691,846	507,282	507,201	360,168	376,170
`17`	119,601	167,442	215,282	263,122	310,963	358,803	429,991	493,357	558,778	624,199	676,309	733,758	81,964	114,749	-	-	-	14,674	36,696	58,728
`170/4`	119,601	167,442	215,282	263,122	310,963	358,803	429,991	491,704	557,125	622,546	674,656	732,105	81,964	114,749	-	-	-	14,674	36,696	58,728
`178/9`	-	-	-	-	-	-	-	1,653	1,653	1,653	1,653	1,653	-	-	-	-	-	-	-	-
`42/48`	132,660	235,292	265,916	307,539	137,673	294,822	94,858	138,990	786,732	901,134	1.1m	649,238	234,256	486,695	407,931	666,760	507,282	492,527	323,472	317,442
`42`	51,827	47,840	47,840	47,840	47,840	47,840	61,713	65,421	65,421	81,814	140,320	83,373	32,785	32,785	-	-	14,675	22,021	22,032	22,043
`43`	-	-	-	125,000	-	125,000	-	-	350,000	675,000	125,000	125,000	125,000	350,000	125,000	125,000	125,000	-	-	-
`430/8`	-	-	-	125,000	-	125,000	-	-	350,000	675,000	125,000	125,000	125,000	350,000	125,000	125,000	125,000	-	-	-
`44`	24,276	24,358	8,294	22,473	60,010	34,831	23,797	30,608	310,704	98,052	755,560	368,389	12,220	64,934	245,129	511,126	323,815	425,219	282,272	281,866
`440/4`	24,276	24,358	8,294	22,473	60,010	34,831	23,797	30,608	310,704	98,052	755,560	368,389	12,220	64,934	245,129	511,126	323,815	425,219	282,272	281,866
`45`	56,557	107,094	156,112	61,626	18,423	73,151	9,348	42,961	60,069	45,730	39,628	71,997	64,251	38,976	37,802	30,634	43,792	45,287	19,168	13,533
`450/3`	25,825	74,798	133,288	43,459	3,331	50,577	4,510	7,631	7,814	8,355	7,582	32,441	32,011	8,811	6,486	6,387	20,174	21,666	2,835	7,704
`454/9`	30,732	32,296	22,824	18,167	15,092	22,574	4,838	35,330	52,255	37,375	32,046	39,556	32,240	30,165	31,316	24,247	23,618	23,621	16,333	5,830
`47/48`	-	56,000	53,670	50,600	11,400	14,000	-	-	538	538	479	479	-	-	-	-	-	-	-	-
`492/3`	175	175	234	1,764	1,764	-	-	28,266	28,265	234	80,395	80,395	2,809	25,320	25,086	25,086	-	-	-	-
Income statement
`70`	595,134	916,925	777,475	725,076	485,619	626,593	437,674	2.1m	2.0m	2.2m	1.4m	1.4m	1.9m	933,663	1.2m	1.2m	729,077	669,194	584,488	358,439
`76A`	12,930	-	-	-	60	1,057	-	1,319	6,462	119,714	79,000	-	212	-	-	-	18,165	-	500	675
`9900`	354,668	577,621	445,785	409,738	235,550	351,341	245,021	426,028	378,794	359,540	306,268	432,669	345,565	299,816	261,624	248,566	216,593	221,624	150,054	50,919
`60/61`	308,354	367,475	390,747	315,338	250,129	276,308	192,652	1.7m	1.6m	1.8m	1.1m	934,636	1.6m	633,847	911,601	974,660	512,484	447,570	434,434	307,520
`62`	280,448	265,987	216,655	190,980	159,904	210,552	175,158	278,709	284,119	286,582	280,381	306,475	247,050	234,027	221,815	177,234	167,527	166,812	85,482	35,482
`630`	44,189	39,082	40,719	41,373	37,961	37,149	37,098	45,516	44,024	43,929	43,557	51,909	21,674	24,160	29,619	52,159	50,555	48,355	29,519	28,912
`631/4`	-	-	-	-	-	-	-	9,675	4,521	-	-	-	-	7,698	-	4,562	466	-	5,423	-
`640/8`	12,373	12,845	12,917	10,717	11,839	11,399	3,060	3,220	5,146	622	9,852	3,442	952	2,129	1,734	1,169	620	671	667	734
`66A`	-	36,448	-	-	-	-	2,210	-	-	-	-	-	-	-	-	-	-	-	-	-
`9901`	17,658	223,259	175,494	166,668	25,846	92,241	27,495	88,908	40,984	28,407	-27,522	70,843	75,889	31,802	8,456	13,442	-2,575	5,786	28,963	-14,209
`75/76B`	1,358	1,391	-	-	-	98	-	2	6	17	284	552	348	209	176	70	55	54	149	138
`75`	1,358	1,391	-	-	-	98	-	2	6	17	284	552	348	209	176	70	55	54	149	138
`65/66B`	6,378	7,660	10,793	12,755	12,187	15,481	19,211	43,449	37,669	41,190	31,914	23,469	10,325	11,606	5,183	4,447	14,315	3,927	4,340	6,604
`65`	6,194	7,660	10,793	12,755	12,187	15,481	19,211	43,449	37,669	41,190	31,914	23,469	10,325	11,606	5,183	4,447	14,315	3,927	4,340	6,604
`66B`	184	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`9903`	12,638	216,990	164,701	153,913	13,659	76,858	8,284	45,461	3,321	-12,766	19,848	47,926	66,124	20,405	3,449	9,065	1,330	1,913	25,272	-20,000
`67/77`	3,613	57,907	44,000	17,900	-	-	-	-	-	4	134	17,898	24,057	2,028	16	9	-22	8	-43	208
`9904`	9,025	159,083	120,701	136,013	13,659	76,858	8,284	45,461	3,321	-12,770	19,714	30,028	42,067	18,377	3,433	9,056	1,352	1,905	25,315	-20,208
`9905`	9,025	159,083	120,701	136,013	13,659	76,858	8,284	45,461	3,321	-12,770	19,714	30,028	42,067	18,377	3,433	9,056	1,352	1,905	25,315	-20,208
Appropriation of the result
`9906`	506,418	577,393	478,309	413,608	277,595	283,936	207,078	198,794	153,333	150,012	162,782	143,068	113,040	70,973	52,596	49,163	40,107	38,755	36,850	11,535
`14P`	497,393	418,310	357,608	277,595	263,936	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`694/7`	-	80,000	60,000	56,000	-	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`694`	-	80,000	60,000	56,000	-	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
`9087`	4.4	4.7	4	4	3.9	4.7	5.2	5.8	6	6	5.6	6.2	6	5.1	5.3	4	4	4	2.6	1
Hours worked`1013`	8,037	8,545	7,025	6,465	6,068	7,514	5,810	9,099	9,968	10,348	9,914	11,199	9,173	8,484	8,366	6,954	6,832	7,091	4,525	1,824
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 10 older financial years (1996-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	full format	08-07-2026	2026-00292935	PDF
31-12-2024	full format	26-06-2025	2025-00181294	PDF
31-12-2023	full format	03-07-2024	2024-00200222	PDF
31-12-2022	micro format	14-07-2023	2023-00235870	PDF
31-12-2021	micro format	12-08-2022	2022-20285046	PDF
31-12-2020	micro format	24-06-2021	2021-23900207	PDF
31-12-2019	micro format	14-08-2020	2020-41300121	PDF
31-12-2018	full format	02-07-2019	2019-26900303	PDF
31-12-2017	full format	05-07-2018	2018-29000228	PDF
31-12-2016	full format	05-07-2017	2017-27100600	PDF
31-12-2015	full format	05-07-2016	2016-27100561	PDF
31-12-2014	full format	15-07-2015	2015-30700222	PDF
31-12-2013	full format	10-07-2014	2014-28800560	PDF
31-12-2012	full format	08-07-2013	2013-27700229	PDF
31-12-2011	full format	03-07-2012	2012-24800318	PDF
31-12-2010	full format	22-06-2011	2011-20300115	PDF
31-12-2009	full format	14-06-2010	2010-17500550	PDF
31-12-2008	full format	20-05-2009	2009-15700253	PDF
31-12-2007	full format	31-05-2008	2008-17800334	PDF
31-12-2006	full format	21-05-2007	2007-15000066	PDF
31-12-2005	full format	10-05-2006	2006-14200185	PDF
31-12-2004	full format	10-06-2005	2005-25103684	PDF
31-12-2003	full format	27-05-2004	2004-18501840	PDF
31-12-2002	full format	13-05-2003	2003-14403875	PDF
30-06-2001	full format	29-11-2001	2001-72802266	PDF
30-06-2000	full format	18-12-2000	2000-76404512	PDF
30-06-1999	full format	03-12-1999	1999-61803298	PDF
30-06-1998	full format	27-11-1998	1998-59405363	PDF
30-06-1997	full format	30-10-1997	1997-51300757	PDF
30-06-1996	full format	30-10-1996	1996-49301471	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
61,847	262,341	216,213	208,041	63,807	129,390	64,593	134,424	85,008	72,336	16,035	122,752	97,563	55,962	38,075	65,601	47,980	54,141	58,482	14,703
53,214	198,165	161,420	177,386	51,620	114,007	45,382	90,977	47,345	31,159	63,271	81,937	63,741	42,537	33,052	61,215	51,907	50,260	54,834	8,703
47,418	9,953	0	1,408	16,000	21,770	0	4,974	2,350	3,689	67,794	704,846	3,576	2,621	2,167	8,150	13,047	74,728	21,828	8,910
-143,213	17,722	-23,424	280,985	-180,868	147,796	-54,707	-45,899	-177,612	327,898	-191,522	-172,630	343,462	-67,416	91,886	-53,161	45,750	-7,418	-9,392	-
298,512	340,557	280,243	228,193	156,056	166,512	165,463	211,713	191,130	183,525	288,326	350,298	235,883	231,014	70,666	39,781	-38,370	-62,556	-16,066	-27,041
3.0%	24.3%	22.6%	23.0%	5.3%	14.7%	6.3%	4.2%	2.0%	1.3%	-2.0%	5.2%	3.9%	3.4%	0.7%	1.1%	-0.4%	0.9%	5.0%	-4.0%
69.5%	58.4%	50.3%	42.7%	43.4%	33.7%	34.4%	28.8%	13.9%	12.5%	11.3%	12.6%	36.2%	18.2%	21.8%	14.5%	17.6%	17.4%	22.6%	17.5%
3.25	2.45	2.05	1.74	2.13	1.56	2.74	2.52	1.24	1.20	1.27	1.54	2.01	1.47	1.17	1.06	0.92	0.87	0.95	0.91
2.63	2.10	1.71	1.28	1.24	1.24	1.78	1.87	0.49	0.98	0.78	0.93	1.72	0.34	0.41	0.76	0.67	0.78	0.94	0.87
0.44	0.71	0.99	1.34	1.30	1.97	1.91	2.47	6.20	6.99	7.87	6.93	1.76	4.50	3.58	5.89	4.68	4.74	3.43	4.72
1.6%	28.1%	24.8%	31.9%	4.0%	23.1%	3.0%	17.0%	1.5%	-5.9%	8.5%	14.2%	23.2%	13.2%	2.8%	7.7%	1.2%	1.8%	24.1%	-25.3%
1.1%	16.4%	12.5%	13.6%	1.7%	7.8%	1.0%	4.9%	0.2%	-0.7%	1.0%	1.8%	8.4%	2.4%	0.6%	1.1%	0.2%	0.3%	5.4%	-4.4%
9.98	34.25	20.03	16.31	5.24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
90 days	58 days	52 days	11 days	74 days	61 days	14 days	0 days	2 days	40 days	71 days	6 days	2 days	3 days	4 days	146 days	127 days	197 days	162 days	235 days
29 days	24 days	8 days	26 days	88 days	46 days	45 days	7 days	70 days	19 days	256 days	144 days	3 days	37 days	98 days	191 days	231 days	347 days	237 days	335 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	5	5	4	4	5
full-time	3	3	3	3	3
part-time	2	2	1	1	2
in full-time equivalents	4.2	4.2	3.7	3.5	4.3
	4.4	4.7	4	4	3.9
On a permanent contract	5	5	4	4	5
Joined	17	17	19	7	1
Left	16	16	19	8	0

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€47,418	€9,953	-	€1,408	€16,000
	€44,189	€39,082	€40,719	€41,373	€37,961

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

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The operating result for 2025 is 92% lower than in 2024 and the lowest since 2015.

Debt's share of the balance-sheet total falls from 41.6% to 30.5%. Equity is higher and debt is lower.

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Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency69.5%

Current ratio3.25

Return on assets1.1%

Staff

Staff cost per FTE€63,738

Joined and left+1 person

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on MICROBELCAPS

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in euro

in euro

69.5%

3.25

1.1%

€63,738

+1 person