Skip to content

Multipharma

Active
Cooperative companyfounded 200422 yrs activeMarie Curiesquare 30, 1070 Anderlecht, BelgiumKBO/BCE: BE 0866.855.346
Summary

Multipharma has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €128.1m and a net result of -€2.9m. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 61% of 4911 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisWatch ReportCompare
MultipharmaActiveChecked score 89/100
Risk analysis ReportCompare

Overview

Activity
Retail sale of pharmaceutical products
NACE 47730Warehousing and support activities for transportation NACE 52310
#3 employer in the Brussels-Capital Region, Retail trade sector244 sites
Size
€580.8mturnover 2025
Staff
1,522.8 FTE
Equity
€128.1m
Loss
-€2.9m
Financial health
89 Excellent Checked score 2025
Bankruptcy chance 12 m
0.3%
Structure
Parent
MULTIPHARMA GROUP · 100%
Holdings
1
Accounts 36 d early2 of 114 deeds read
Why 89- Loss of €2.9m, the second in a row (FY 2025)- 1 of the last 3 late+ Founded in 2004+ Size: turnover €580.8m, 1,522.8 FTE, total assets €274.3mShow the evidence

Checked score

Score 2025
89 / 100
Excellent
Probability in this band: under 0.55%
Better than 70% of its sector peers (NACE 47, large)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Average
Solvency 72-4
equity 46.7% of total assets
Liquidity 49+9
short-term debt 32.7% · cash 10.2%
Profitability 54-1
return on assets -1.0%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (83 companies)
Last 24 months 11-2024: 0.2%lowest value 12-2024: 0.2%● 0.0% vs 11-2024lowest value 01-2025: 0.4%▲ +134% vs 12-2024 02-2025: 0.4%▼ -3.5% vs 01-2025 03-2025: 0.4%● 0.0% vs 02-2025 04-2025: 0.3%▼ -3.7% vs 03-2025 05-2025: 0.4%▲ +2.9% vs 04-2025 06-2025: 0.4%▲ +4.5% vs 05-2025 07-2025: 0.3%▼ -19.8% vs 06-2025 08-2025: 0.3%● 0.0% vs 07-2025 09-2025: 0.3%● 0.0% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.3%▼ -3.7% vs 01-2026 03-2026: 0.3%▼ -0.7% vs 02-2026 04-2026: 0.3%● 0.0% vs 03-2026 05-2026: 0.3%▲ +3.5% vs 04-2026 06-2026: 0.3%▲ +2.4% vs 05-2026 07-2026: 0.3%▲ +0.7% vs 06-2026 08-2026: 0.5%▲ +76.8% vs 07-2026 09-2026: 0.6%▲ +16.1% vs 08-2026highest value 10-2026: 0.3%▼ -59.2% vs 09-2026
  • Founded in 2004 lowers the probability for this profile
  • Size: turnover €580.8m, 1,522.8 FTE, total assets €274.3m lowers the probability for this profile
  • Loss of €2.9m, the second in a row (FY 2025) raises the probability
  • 1 of the last 3 late raises the probability
Credit up to €11,400,000 at 30 days acceptable
Liquidity ample (current ratio 1.62 against 1.52 in 2024; short-term debt: 32.7% and cash: 10.2% of total assets), but 53.3% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 47, large). Better than this share of them on solvency 78%, liquidity 80%, profitability 40%, growth against the median 83%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Founded in 2004
In the bankruptcy model this factor lowers the probability for this profile.
KBO
lowers risk · Size: turnover €580.8m, 1,522.8 FTE, total assets €274.3m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Loss of €2.9m, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
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 25-06-2026, 36 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
36 d early
2024
38 d early
2023
14 d early
2022
2 d late
2021
39 d early
2020
11 d late
2019
29 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 20 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 25 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
05-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Resignation: Delphine HAHAJI (member of the…State Gazette act
  3. Equity above €100mEq €128.1m ▲33.8%

Key points

  • Caution: Result fell in 2025from -€819,207 to -€2.9m ▼ 249% View
  • Caution: Among the weakest 5% on net resultsector median €41,157 · 4,911 companies -€2.9m View
  • Positive: 6 years of growth in a rowturnover 2025: €580.8m 6 years View
  • Controlled by MULTIPHARMA GROUPknown shareholders 100% 100% View
  • A director leftlatest change 30-04-2026 · 0 in office 1 left View

By topic

Financials

Fiscal year
2025
Turnover
€580.8m
Loss
-€2.9m
Solvency
46.7%
Turnover▲ 5.7%
Net result
20182025
Go to Financials

Timeline

Events
15
Since
2018
Next accounts
by 31-07-2027
  1. 25-06-2026Annual accounts filed
  2. 23-06-2026Resignation: Delphine HAHAJI (member of the executive…
  3. 31-12-2025Equity above €100m
Go to Timeline

Company details

Sites
244
Legal form
Cooperative company
Activity
Retail sale of pharmaceutical productsNACE 47730
Founded
19-08-2004
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies

Your own company? See how customers, suppliers and banks see it and what to improve first.

Investigating this company? Keep it with today's facts in a case file.

We would like to set cookies. That happens only with your consent. What we measure