NORALPHAR
ActiveNORALPHAR has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59k and a net result of €253k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 31697 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency33▼-47
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity tight (current ratio 1.09 against 2.12 in 2024; short-term debt: 83.4% and cash: 32.6% of total assets), and 92.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
7.5%
Return on assets
32.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 31697 sector peers (2025).
NBB · sector comparisonPosition among 31697 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
28 d late
2024
11 d late
2023
30 d late
2022
30 d late
2021
31 d late
2020
20 d late
2019
66 d late
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€59k▼ 49.1%
2024 · €116k
2018: €-24k
2019: €7k
2020: €10k
2021: €20k
2022: €20k
2023: €25k
2024: €116k
2018 → 2025
Total assets
€783k▲ 275%
2024 · €209k
2018: €34k
2019: €165k
2020: €227k
2021: €64k
2022: €89k
2023: €72k
2024: €209k
2018 → 2025
Net result
€253k▲ 179%
2024 · €91k
2018: €-30k
2019: €38k
2020: €123k
2021: €10k
2022: €14k
2023: €10k
2024: €91k
2018 → 2025
Working capital
€57k▼ 45.3%
2024 · €104k
2018: €-25k
2019: €70k
2020: €11k
2021: €19k
2022: €13k
2023: €23k
2024: €104k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€20k-€20k▲ 2.5%€25k▲ 24.5%€116k▲ 363%€59k▼ 49.1%
Operating result€13k-€20k▲ 50.9%€17k▼ 14.9%€122k▲ 605%€346k▲ 184%
Net result€10k-€14k▲ 46.2%€10k▼ 29.7%€91k▲ 815%€253k▲ 179%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 184% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €783k
Fixed assets
€73k▲ 544%
Current assets
€710k▲ 259%
Equity and liabilities €783k
Equity
€59k▼ 49.1%
Debt
€724k▲ 677%
The debt ratio rises from 44.6% to 92.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€360k▲
2024 · €122k
Cash flow
€267k▲
2024 · €91k
Solvency
7.5%▼
2024 · 55.4%
Current ratio
1.09▼
2024 · 2.12
Quick ratio
1.01▼
2024 · 2.12
Debt / equity
12.31▲
2024 · 0.81
ROE
430.3%▲
2024 · 78.4%
ROA
32.3%▼
2024 · 43.4%
Interest coverage
54.57▲
2024 · 44.48
Debt
€724k▲
2024 · €93k
Debt ≤ 1 year
€653k▲
2024 · €93k
Debt > 1 year
€71k
Income taxes
€86k▲
2024 · €28k
Staff costs
€81k▲
2024 · €78k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€209k€783k▲
Fixed assets21/28€11k€73k▲
Intangible fixed assets21-€44k
Tangible fixed assets22/27€11k€29k▲
Furniture and vehicles24€1k€29k▲
Assets under construction and advance payments27€10k-
Current assets29/58€198k€710k▲
Stocks and contracts in progress3-€54k
Stocks30/36-€54k
Amounts receivable within one year40/41€130k€395k▲
Trade receivables40€17k€394k▲
Other amounts receivable41€113k€320▼
Cash at bank and in hand54/58€62k€255k▲
Deferred charges and accrued income490/1€6k€6k▼
Equity and liabilities
Total equity and liabilities10/49€209k€783k▲
Equity10/15€116k€59k▼
Contributions10/11€19k€19k=
Reserves13€435€435=
Non-distributable reserves130/1€435€435=
Reserves not available under the articles1311€435€435=
Profit (loss) carried forward14€97k€40k▼
Amounts payable17/49€93k€724k▲
Amounts payable after more than one year17-€71k
Financial debts170/4-€71k
Amounts payable within one year42/48€93k€653k▲
Current portion of amounts payable after more than one year42-€13k
Trade debts44€9k€171k▲
Suppliers440/4€9k€171k▲
Taxes, remuneration and social security45€84k€159k▲
Taxes450/3€73k€147k▲
Remuneration and social security454/9€11k€11k▲
Other amounts payable47/48-€311k
Income statement
Code20242025
Remuneration, social security and pensions62€78k€81k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€636€14k▲
Other operating charges640/8€1k€854▼
Gross operating margin9900€202k€442k▲
Operating profit (loss)9901€122k€346k▲
Financial income75/76B€30€18▼
Recurring financial income75€30€18▼
Financial charges65/66B€3k€7k▲
Recurring financial charges65€3k€7k▲
Profit (loss) for the period before taxes9903€119k€340k▲
Income taxes67/77€28k€86k▲
Profit (loss) for the period9904€91k€253k▲
Profit (loss) for the period to be appropriated9905€91k€253k▲
Appropriation of the result
Profit (loss) to be appropriated9906€97k€350k▲
Profit (loss) brought forward from the previous period14P€6k€97k▲
Profit to be distributed694/7-€310k
Return on contributions (dividend)694-€310k
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
14-08
State Gazette act
Registered office · Resignations & appointments · MiscellaneousGeneral meeting · Mandate compensation · Email address4 facts ▸
State Gazette act
Registered office · Resignations & appointments · Miscellaneous
General meeting · Mandate compensation · Email address4 facts ▸
- General meeting, 27 juillet 2026
- Mandate compensation, Olivier-Hicham Allard
- Email address, ohall@noralphar.com, 27/07/2026
- Statute abrogation, disposition transitoire n° 2 de l’acte constitutif du 13 novembre 2017, 01/09/2026
2025
31-12
Financial
Highest result since 2018net €253k ▲179%
Operating result €346k, net result €253k, both a record.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
31-12
Financial
Equity above €100kEq €116k ▲363%
6 profitable years in a row build equity to €116k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
31-12
Financial
Back to profitnet €38k
Net result €38k after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.82
Current ratio from 0.37 to 1.82.
23-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 145 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 3 establishment units since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Georges Lecointelaan 501180 UkkelGround area
3,476 m²
Building footprint
655 m²
Volume, LiDAR
5,128 m³
3 parcels, Brussels, Flanders · tallest building 15.5 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
NORALPHAR
since 20172.270.156.029
NORALPHAR
since 20182.282.506.109
Pharmacie Allard
since 20252.367.760.201
3 parcels
Flanders
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612D0103/00Z009 | Brussels | 2,238 m² | 1 · 362 m² | 14.1 m · 2 fl. |
| 22552F0009/00Z058 | Flanders | 904 m² | 1 · 167 m² | 10.5 m · 3 fl. |
| 21443C0245/00W002 | Brussels | 334 m² | 1 · 126 m² | 15.5 m · 3 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Legal Entity Identifier
254900UJ4F0BUIANY547
Similar companies · same sector, comparable size
OpMan Consulting
BE 0785.878.855
Leuven · Eq €59k
ARRC
BE 0871.840.552
Lier · Eq €59k
PLTC CONSULT
BE 0879.685.674
Yvoir · Eq €59k
Poutrel
BE 1018.073.495
Vorselaar · Eq €59k
CuraBel
BE 0749.546.516
Puurs-Sint-Amands · Eq €59k
Of 82,569 companies in sector 70200 we hold annual accounts for 52,577. 38,918 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-11-2017
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
78200Temporary employment agencies and other provision of personnel
78300Employment activities
10890Manufacture of food products
20420Manufacture of chemicals and chemical products
47730Retail sale of pharmaceutical products
68110Buying and selling of own real estate
78100Employment placement agencies
82300Organisation of conventions and trade shows
85592Vocational training
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:ohall@noralphar.com