ODEPHARMA
ActiveSummary
ODEPHARMA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115,621 and a net result of €69,636. Equity is growing by ~53.8% per year across the filed fiscal years. Its solvency ranks better than 59% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+54
Solvency70▲+25
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.84 against 1.23 in 2024; short-term debt: 53.5% and cash: 22.7% of total assets), but 54.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
45.3%
Return on assets
27.3%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 03-02-2026, 86 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
86 d early
2024
34 d early
2023
8 d early
2022
2 d early
2021
2 d early
2020
on the day
2019
8 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 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€115,621▲ 151%
2024 · €45,985
Total assets
€255,295▲ 12.3%
2024 · €227,253
Net result
€69,636▲ 725%
2024 · €8,443
Working capital
€114,290▲ 172%
2024 · €42,070
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€39,488▲ 195%€8,800▼ 77.7%€19,757▲ 125%€10,982▼ 44.4%€87,084▲ 693%
Net result€41,121within the sector's middle half▲ 145%€10,490within the sector's middle half▼ 74.5%€21,444within the sector's middle half▲ 104%€8,443within the sector's middle half▼ 60.6%€69,636within the sector's middle half▲ 725%
Equity€5,608below the sector's middle half€16,098below the sector's middle half▲ 187%€37,542below the sector's middle half▲ 133%€45,985below the sector's middle half▲ 22.5%€115,621within the sector's middle half▲ 151%
Total assets€222,758below the sector's middle half▲ 8.4%€199,436below the sector's middle half▼ 10.5%€214,842below the sector's middle half▲ 7.7%€227,253below the sector's middle half▲ 5.8%€255,295below the sector's middle half▲ 12.3%
Debt€217,151▼ 9.9%€183,338▼ 15.6%€177,300▼ 3.3%€181,268▲ 2.2%€139,674▼ 22.9%
Working capital€138,574within the sector's middle half▲ 460%€98,020within the sector's middle half▼ 29.3%€120,515within the sector's middle half▲ 22.9%€42,070within the sector's middle half▼ 65.1%€114,290within the sector's middle half▲ 172%
Solvency2.5%below the sector's middle half▲ 19.8pp8.1%below the sector's middle half▲ 5.6pp17.5%within the sector's middle half▲ 9.4pp20.2%within the sector's middle half▲ 2.8pp45.3%within the sector's middle half▲ 25.1pp
Current ratio2.81above the sector's middle half▲ 1.672.04within the sector's middle half▼ 0.772.37within the sector's middle half▲ 0.331.23within the sector's middle half▼ 1.131.84within the sector's middle half▲ 0.60
Return on assets (ROA)18.5%above the sector's middle half▲ 10.3pp5.3%within the sector's middle half▼ 13.2pp10.0%within the sector's middle half▲ 4.7pp3.7%within the sector's middle half▼ 6.3pp27.3%above the sector's middle half▲ 23.6pp
Staff (FTE)1.8within the sector's middle half▼ 5.3%1.8within the sector's middle half=1.8within the sector's middle half=1.8within the sector's middle half=1.9within the sector's middle half▲ 5.6%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 693% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €255,295
Fixed assets
€4,412 ▼ 19.1%
Current assets
€250,882 ▲ 13.1%
Equity and liabilities €255,295
Equity
€115,621 ▲ 151%
Debt
€139,674 ▼ 22.9%
Debt's share of the balance-sheet total falls from 79.8% to 54.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€88,126▲
2024 · €11,973
Cash flow
€70,678▲
2024 · €9,434
Quick ratio
0.91▲
2024 · 0.54
Debt to equity
1.21▼
2024 · 3.94
ROE
60.2%▲
2024 · 18.4%
Interest coverage
85.53▲
2024 · 2.72
Debt ≤ 1 year
€136,592▼
2024 · €179,728
Income taxes
€18,004▲
2024 · €2
Staff costs
€134,044▲
2024 · €128,920
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €99,085 | €112,005 | €124,450 | €128,920 | €134,044 | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,118 | €2,489 | €974 | €991 | €1,042 | ▲ 5.2% |
| Other operating charges640/8 | €2,056 | €1,910 | €2,341 | €923 | €1,008 | ▲ 9.2% |
| Non-recurring operating charges66A | - | - | - | €100 | €0 | ▼ 100% |
| Gross operating margin9900 | €142,746 | €125,204 | €147,523 | €141,917 | €223,178 | ▲ 57.3% |
| Operating profit (loss)9901 | €39,488 | €8,800 | €19,757 | €10,982 | €87,084 | ▲ 693% |
| Financial income75/76B | €2,226 | €2,237 | €2,018 | €1,866 | €1,586 | ▼ 15.0% |
| Recurring financial income75 | €2,226 | €2,237 | €2,018 | €1,866 | €1,586 | ▼ 15.0% |
| Financial charges65/66B | €593 | €547 | €332 | €4,403 | €1,030 | ▼ 76.6% |
| Recurring financial charges65 | €593 | €547 | €332 | €4,403 | €1,030 | ▼ 76.6% |
| Profit (loss) for the period before taxes9903 | €41,121 | €10,490 | €21,444 | €8,445 | €87,639 | ▲ 938% |
| Income taxes67/77 | - | - | - | €2 | €18,004 | ▲ 818,246% |
| Profit (loss) for the period9904 | €41,121 | €10,490 | €21,444 | €8,443 | €69,636 | ▲ 725% |
| Profit (loss) for the period to be appropriated9905 | €41,121 | €10,490 | €21,444 | €8,443 | €69,636 | ▲ 725% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €222,758 | €199,436 | €214,842 | €227,253 | €255,295 | ▲ 12.3% |
| Fixed assets21/28 | €7,749 | €7,109 | €6,135 | €5,455 | €4,412 | ▼ 19.1% |
| Tangible fixed assets22/27 | €4,197 | €3,558 | €2,583 | €2,986 | €1,944 | ▼ 34.9% |
| Plant, machinery and equipment23 | €1,534 | €1,500 | €1,130 | €760 | €390 | ▼ 48.7% |
| Furniture and vehicles24 | €794 | €397 | €0 | €980 | €516 | ▼ 47.4% |
| Other tangible fixed assets26 | €1,869 | €1,661 | €1,454 | €1,246 | €1,038 | ▼ 16.7% |
| Financial fixed assets28 | €3,551 | €3,551 | €3,551 | €2,469 | €2,469 | = |
| Current assets29/58 | €215,010 | €192,327 | €208,707 | €221,798 | €250,882 | ▲ 13.1% |
| Stocks and contracts in progress3 | €110,394 | €111,823 | €119,560 | €125,517 | €126,241 | ▲ 0.6% |
| Stocks30/36 | €110,394 | €111,823 | €119,560 | €125,517 | €126,241 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €53,995 | €59,591 | €58,004 | €69,277 | €63,718 | ▼ 8.0% |
| Trade receivables40 | €34,080 | €53,712 | €49,570 | €57,954 | €63,485 | ▲ 9.5% |
| Other amounts receivable41 | €19,916 | €5,879 | €8,434 | €11,323 | €233 | ▼ 97.9% |
| Cash at bank and in hand54/58 | €43,944 | €13,117 | €23,032 | €15,844 | €57,952 | ▲ 266% |
| Deferred charges and accrued income490/1 | €6,677 | €7,797 | €8,111 | €11,160 | €2,972 | ▼ 73.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €222,758 | €199,436 | €214,842 | €227,253 | €255,295 | ▲ 12.3% |
| Equity10/15 | €5,608 | €16,098 | €37,542 | €45,985 | €115,621 | ▲ 151% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €6,500 | €6,500 | €6,500 | €6,500 | €53,500 | ▲ 723% |
| Non-distributable reserves130/1 | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Distributable reserves133 | - | - | - | - | €47,000 | - |
| Profit (loss) carried forward14 | -€62,892 | -€52,402 | -€30,958 | -€22,515 | €121 | ▲ 101% |
| Amounts payable17/49 | €217,151 | €183,338 | €177,300 | €181,268 | €139,674 | ▼ 22.9% |
| Amounts payable after more than one year17 | €140,284 | €88,494 | €88,494 | €0 | - | - |
| Financial debts170/4 | €8,040 | €0 | - | - | - | - |
| Other amounts payable178/9 | €132,244 | €88,494 | €88,494 | €0 | - | - |
| Amounts payable within one year42/48 | €76,435 | €94,307 | €88,193 | €179,728 | €136,592 | ▼ 24.0% |
| Current portion of amounts payable after more than one year42 | €8,040 | €8,040 | €0 | €88,494 | €0 | ▼ 100% |
| Trade debts44 | €42,525 | €55,694 | €56,279 | €68,052 | €41,914 | ▼ 38.4% |
| Suppliers440/4 | €42,525 | €55,694 | €56,279 | €68,052 | €41,914 | ▼ 38.4% |
| Taxes, remuneration and social security45 | €16,524 | €15,064 | €18,384 | €16,946 | €26,277 | ▲ 55.1% |
| Taxes450/3 | €2,721 | €0 | €1,772 | €0 | €4,007 | - |
| Remuneration and social security454/9 | €13,803 | €15,064 | €16,612 | €16,946 | €22,270 | ▲ 31.4% |
| Other amounts payable47/48 | €9,346 | €15,509 | €13,530 | €6,235 | €68,401 | ▲ 997% |
| Accrued charges and deferred income492/3 | €431 | €537 | €613 | €1,540 | €3,081 | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,121 | €10,490 | €21,444 | €8,443 | €69,636 | ▲ 725% |
| + Depreciation and write-downs630 | €2,118 | €2,489 | €974 | €991 | €1,042 | ▲ 5.2% |
| Operating cash flow (approximation) | €43,238 | €12,979 | €22,418 | €9,434 | €70,678 | ▲ 649% |
| Investment in fixed assets (approximation) | - | -€1,849 | €0 | -€311 | €0 | ▲ 100% |
| Change in cash | - | -€30,827 | €9,916 | -€7,188 | €42,108 | ▲ 686% |
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
Next filing, fiscal year 2026, expected by
2026
03-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Highest result since 2018net €69,636 ▲725%
Operating result €87,084, net result €69,636, both a record.
30-09
Financial
Equity above €100,000Eq €115,621 ▲151%
8 profitable years in a row build equity to €115,621.
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Liquidity doublescurrent ratio 2.81
Current ratio from 1.14 to 2.81; short-term debt falls from €171,699 to €76,435.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Koksijde · 1 establishment unit since 1990
Ground area
275 m²
Building footprint
106 m²
Volume, LiDAR
1,050 m³
Parcel 38502G0515/00_000, Flanders · tallest building 13.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
APOTHEEK PHARMACIE
since 19902.049.732.239
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38502G0515/00_000 | Flanders | 275 m² | 1 · 106 m² | 13.1 m · 3 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.
Structure & network
Owners and holdings
1 ownerChain of control
- PAN PROJECT
- ODEPHARMA
Highest known parent: PAN PROJECT. The sources do not say who stands above it.
Owners 1
- PAN PROJECTparent99.52%
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKoksijde2.049.732.239
Similar companies · same sector, comparable size
APOTHEEK GILIAS
BE 0429.191.940
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BE 0479.659.456
Ganshoren · Eq €115,485
PHARMACIE BEULS
BE 0432.602.380
Mouscron · Eq €115,781
CLAIVER
BE 0863.396.307
Heuvelland · Eq €115,457
APOTHEEK NAESSENS-CLEEREN
BE 0767.806.369
Schilde · Eq €115,818
Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,485 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-09-1990
Fiscal year end30-09
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441639812
Also
9925:BE0441639812
Registered
02-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.