NOVALON
Open bankruptcySummary
A bankruptcy procedure is open for NOVALON according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisation notices. The 2022 annual accounts show equity of €9.2m and a net result of -€28.1m.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Liège, Liège division
- Declared bankrupt
- 25 July 2024
- Supervising judge
- Alexis Palm, Christian De Maeseneire
- Official Gazette
- 31-07-2024 (pdf) ↗search the document for 2024/131183
Deadlines
- Appeal or third-party opposition until
- passed on 15 August 2024Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 24 August 2024art. XX.104 and XX.155 CEL
- First verification report
- passed on 5 September 2024Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 25 July 2025Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curators
- Yves GodfroidRue Des Augustins 32, 4000 Liege 1yves.godfroid@henry-mersch.be
- Francois MinonRue Des Augustins 32, 4000 Liege 1- mersch.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 24-07-2023, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
7 d early
2021
6 d early
2020
5 d early
2019
18 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?Mithra Pharmaceuticals · 5 companies Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?Process a list How is the Manufacture of basic pharmaceutical products and pharmaceutical preparations sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, full schema
Turnover
€14.2m▲ 246%
2021 · €4.1m
EBIT margin
-143.8%▲ 610.8pp
2021 · -754.6%
Net result
-€28.1m▲ 14.0%
2021 · -€32.7m
Working capital
-€12.4m▲ 87.3%
2021 · -€97.4m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Turnover€209,183-€3.5m▲ 1,554%€3.8m▲ 10.6%€4.1m▲ 7.3%€14.2m▲ 246%
Operating result-€2.6m--€24.8m▼ 871%-€30.0m▼ 21.0%-€31.0m▼ 3.1%-€20.4m▲ 34.0%
Net result-€2.6m--€24.9m▼ 845%-€30.4mbelow the sector's middle half▼ 22.1%-€32.7mbelow the sector's middle half▼ 7.3%-€28.1mbelow the sector's middle half▲ 14.0%
EBIT margin-1222.9%--717.7%▲ 505.2pp-785.3%▼ 67.5pp-754.6%▲ 30.6pp-143.8%▲ 610.8pp
Equity€5.2m--€13.4m-€44.1mbelow the sector's middle half▼ 229%-€76.7mbelow the sector's middle half▼ 74.1%€9.2mwithin the sector's middle half
Total assets€22.3m-€31.7m▲ 41.9%€30.8mwithin the sector's middle half▼ 2.8%€36.1mwithin the sector's middle half▲ 17.0%€36.6mwithin the sector's middle half▲ 1.5%
Debt€17.1m-€45.1m▲ 163%€74.9m▲ 66.1%€112.8m▲ 50.6%€27.4m▼ 75.7%
Working capital-€15.8m--€35.9m▼ 127%-€61.4mbelow the sector's middle half▼ 71.1%-€97.4mbelow the sector's middle half▼ 58.7%-€12.4mbelow the sector's middle half▲ 87.3%
Solvency23.3%--42.2%▼ 65.5pp-142.9%below the sector's middle half▼ 100.8pp-212.7%below the sector's middle half▼ 69.8pp25.2%within the sector's middle half▲ 237.9pp
Current ratio0.05-0.20▲ 0.150.18below the sector's middle half▼ 0.020.10below the sector's middle half▼ 0.080.51below the sector's middle half▲ 0.41
Return on assets (ROA)-11.8%--78.6%▼ 66.8pp-98.7%below the sector's middle half▼ 20.1pp-90.6%below the sector's middle half▲ 8.2pp-76.8%below the sector's middle half▲ 13.8pp
Staff (FTE)2-5▲ 150%8below the sector's middle half▲ 60.0%5below the sector's middle half▼ 37.5%5below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 21, Manufacture of basic pharmaceutical products and pharmaceutical preparations, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €20.4m in 2022 against €31.0m in 2021; the loss shrinks.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €36.6m
Fixed assets
€23.6m ▼ 4.4%
Current assets
€12.9m ▲ 14.2%
Equity and liabilities €36.6m
Equity
€9.2m
Debt
€27.4m
Debt finances 74.8% of the balance-sheet total.
Key figures and ratios
EBITDA
-€15.9m▲
2021 · -€28.5m
Cash flow
-€23.6m▲
2021 · -€30.2m
Quick ratio
0.28▲
2021 · 0.05
Debt to equity
2.97▲
2021 · -1.47
ROE
-304.7%
Interest coverage
-2.05▲
2021 · -16.27
Debt ≤ 1 year
€25.4m▼
2021 · €108.8m
Debt > 1 year
€2.0m▼
2021 · €4.0m
Income taxes
-€100,441▼
2021 · -€32,951
Staff costs
€406,898▲
2021 · €380,929
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €5.9m | €18.4m | ▲ 212% |
| Turnover70 | €209,183 | €3.5m | €3.8m | €4.1m | €14.2m | ▲ 246% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €184,103 | -€390,095 | ▼ 312% |
| Own construction capitalised72 | - | - | - | €1.3m | €3.4m | ▲ 156% |
| Other operating income74 | - | - | - | €269,916 | €439,322 | ▲ 62.8% |
| Non-recurring operating income76A | - | - | - | - | €695,280 | - |
| Operating charges60/66A | - | - | - | €36.9m | €38.9m | ▲ 5.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €4.2m | €7.2m | ▲ 73.1% |
| Purchases600/8 | - | - | - | €2.5m | €7.6m | ▲ 208% |
| Change in stocks: decrease (increase)609 | - | - | - | €1.7m | -€434,372 | ▼ 126% |
| Services and other goods61 | - | - | - | €21.2m | €26.3m | ▲ 24.0% |
| Remuneration, social security and pensions62 | - | - | - | €380,929 | €406,898 | ▲ 6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.6m | €6.0m | €3.9m | €2.5m | €4.5m | ▲ 82.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €71,990 | €298,227 | ▲ 314% |
| Other operating charges640/8 | - | - | - | €112,317 | €145,959 | ▲ 30.0% |
| Non-recurring operating charges66A | - | - | - | €8.5m | - | - |
| Operating profit (loss)9901 | -€2.6m | -€24.8m | -€30.0m | -€31.0m | -€20.4m | ▲ 34.0% |
| Financial income75/76B | - | - | - | €74,535 | €223,292 | ▲ 200% |
| Recurring financial income75 | €100,748 | €103,547 | €309,938 | €74,535 | €223,292 | ▲ 200% |
| Other financial income752/9 | - | - | - | €74,535 | €223,292 | ▲ 200% |
| Financial charges65/66B | - | - | - | €1.8m | €8.0m | ▲ 346% |
| Recurring financial charges65 | €258,036 | €364,844 | €770,229 | €1.8m | €8.0m | ▲ 346% |
| Debt charges650 | €256,416 | €359,430 | €749,071 | €1.8m | €7.8m | ▲ 343% |
| Other financial charges652/9 | - | - | - | €34,949 | €202,138 | ▲ 478% |
| Profit (loss) for the period before taxes9903 | -€2.7m | -€25.1m | -€30.5m | -€32.7m | -€28.2m | ▲ 13.7% |
| Income taxes67/77 | -€78,627 | -€168,755 | -€75,163 | -€32,951 | -€100,441 | ▼ 205% |
| Taxes670/3 | - | - | - | €12,558 | €845 | ▼ 93.3% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €45,509 | €101,286 | ▲ 123% |
| Profit (loss) for the period9904 | -€2.6m | -€24.9m | -€30.4m | -€32.7m | -€28.1m | ▲ 14.0% |
| Profit (loss) for the period to be appropriated9905 | -€2.6m | -€24.9m | -€30.4m | -€32.7m | -€28.1m | ▲ 14.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22.3m | €31.7m | €30.8m | €36.1m | €36.6m | ▲ 1.5% |
| Fixed assets21/28 | €21.5m | €22.5m | €17.3m | €24.7m | €23.6m | ▼ 4.4% |
| Intangible fixed assets21 | €21.3m | €22.2m | €17.1m | €24.6m | €23.6m | ▼ 4.2% |
| Tangible fixed assets22/27 | €215,727 | €358,377 | €218,347 | €121,518 | €64,204 | ▼ 47.2% |
| Plant, machinery and equipment23 | - | - | - | €121,518 | €64,204 | ▼ 47.2% |
| Furniture and vehicles24 | - | - | - | €0 | - | - |
| Financial fixed assets28 | - | - | - | €91 | €91 | = |
| Other financial fixed assets284/8 | - | - | - | €91 | €91 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €91 | €91 | = |
| Current assets29/58 | €818,062 | €9.2m | €13.5m | €11.3m | €12.9m | ▲ 14.2% |
| Amounts receivable after more than one year29 | - | - | - | €578,346 | €496,965 | ▼ 14.1% |
| Other amounts receivable291 | - | - | - | €578,346 | €496,965 | ▼ 14.1% |
| Stocks and contracts in progress3 | - | €6.3m | €7.7m | €6.1m | €5.8m | ▼ 4.2% |
| Stocks30/36 | - | - | - | €6.1m | €5.8m | ▼ 4.2% |
| Raw materials and consumables30/31 | - | - | - | €3.5m | €4.2m | ▲ 20.0% |
| Work in progress32 | - | - | - | €1.2m | €530,102 | ▼ 55.8% |
| Goods purchased for resale34 | - | - | - | €1.4m | €1.1m | ▼ 19.6% |
| Amounts receivable within one year40/41 | €118,463 | €1.3m | €1.2m | €1.7m | €6.6m | ▲ 296% |
| Trade receivables40 | - | - | - | €1.7m | €4.7m | ▲ 183% |
| Other amounts receivable41 | - | - | - | €3,360 | €1.9m | ▲ 56,365% |
| Cash at bank and in hand54/58 | €456,107 | €1.2m | €3.4m | €3.0m | €18,495 | ▼ 99.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22.3m | €31.7m | €30.8m | €36.1m | €36.6m | ▲ 1.5% |
| Equity10/15 | €5.2m | -€13.4m | -€44.1m | -€76.7m | €9.2m | ▲ 112% |
| Contributions10/11 | €61,500 | €6.5m | €6.5m | €7.2m | €35.6m | ▲ 396% |
| Capital10 | - | - | - | €6.5m | €34.9m | ▲ 438% |
| Issued capital100 | - | - | - | €6.5m | €34.9m | ▲ 438% |
| Outside capital11 | - | - | - | €678,689 | €678,689 | = |
| Share premium1100/10 | - | - | - | €678,689 | €678,689 | = |
| Reserves13 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | - | - | - | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | €2.4m | -€22.5m | -€52.9m | -€85.6m | -€28.1m | ▲ 67.2% |
| Investment grants15 | - | - | - | €1.7m | €1.7m | = |
| Amounts payable17/49 | €17.1m | €45.1m | €74.9m | €112.8m | €27.4m | ▼ 75.7% |
| Amounts payable after more than one year17 | - | - | - | €4.0m | €2.0m | ▼ 50.0% |
| Other amounts payable178/9 | - | - | - | €4.0m | €2.0m | ▼ 50.0% |
| Amounts payable within one year42/48 | €16.6m | €45.1m | €74.9m | €108.8m | €25.4m | ▼ 76.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4.5m | €6.5m | ▲ 44.3% |
| Trade debts44 | €3.0m | €22.0m | €24.3m | €9.8m | €18.7m | ▲ 90.1% |
| Suppliers440/4 | - | - | - | €9.8m | €18.7m | ▲ 90.1% |
| Taxes, remuneration and social security45 | - | - | - | €26,209 | €85,637 | ▲ 227% |
| Taxes450/3 | - | - | - | €2,876 | €7,232 | ▲ 151% |
| Remuneration and social security454/9 | - | - | - | €23,333 | €78,405 | ▲ 236% |
| Other amounts payable47/48 | - | - | - | €94.4m | €97,303 | ▼ 99.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2.6m | -€24.9m | -€30.4m | -€32.7m | -€28.1m | ▲ 14.0% |
| + Depreciation and write-downs630 | €2.6m | €6.0m | €3.9m | €2.5m | €4.5m | ▲ 82.9% |
| Operating cash flow (approximation) | -€39,625 | -€18.9m | -€26.6m | -€30.2m | -€23.6m | ▲ 21.9% |
| Investment in fixed assets (approximation) | - | -€7.0m | €1.3m | -€9.8m | -€3.4m | ▲ 65.0% |
| Change in cash | - | €696,947 | €2.2m | -€381,102 | -€3.0m | ▼ 685% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
27-08
Bankruptcy
Supervising judge replaced
Tribunal de l’entreprise de Liège, division Liège · event 06-08-2026
2024
31-07
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 25-07-2024
24-06
Judicial reorganisation
Extension
Tribunal de l’entreprise de Liège · amicable agreement · event 19-06-2024
25-04
Judicial reorganisation
Opening
Tribunal de l’entreprise de Liège · amicable agreement · event 19-04-2024
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €5mEq €9.2m
Equity rises from -€76.7m to €9.2m.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€32.7m
Net result drops to -€32.7m, the lowest in the series.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Show earlier events
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
18-06
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 29 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 28 acts read
About the unread acts
We know of 28 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
28 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 2 establishment units since 2012
Ground area
126 m²
Building footprint
43 m²
Volume, LiDAR
649 m³
Parcel 62810C0909/00G000, Wallonia · tallest building 16.9 m, ±5 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
2 establishment units
NOVALON
since 20122.209.146.591
NOVALON
since 20172.266.367.782
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810C0909/00G000 | Wallonia | 126 m² | 1 · 43 m² | 16.9 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | YVES GODFROID RUE DES AUGUSTINS 32,
4000 LIEGE 1 |
25-07-2024 → present |
| Curator | FRANCOIS MINON RUE DES AUGUSTINS 32, 4000 LIEGE 1- francois.minon@henry-
mersch.be |
25-07-2024 → present |
Structure & network
Part of the group
Mithra Pharmaceuticals
5 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Mithra Pharmaceuticals
- NOVALON
Highest known parent: Mithra Pharmaceuticals. The sources do not say who stands above it.
Owners 1
-
99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded03-11-2005
Fiscal year end31-12
Activities, NACEBEL 2025
21209Manufacture of basic pharmaceutical products and pharmaceutical preparations
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.