Skip to content

PHAGEM

Active Private limited companyfounded 1992active for 34 yearsJoseph Bensstraat 18, 1180 UccleKBO/BCE: BE 0448.499.591 subsidiary of ZEWELLDONE
PHAGEM
Follow ReportCompare

Overview

Lifetime

20 annual accounts with figures on one time axis, 33 filings since 1993
peak €467,708 (2025)
€467,708▲ 430%
lowest -€296,344 (2025)
-€296,344▼ €297,421
peak €748,519 (2022)
€587,871▼ 21.4%
€574,689▼ 5.8%
peak 0 FTE (2024)
0 FTE 
Board3 names since 2016
2 directorsBotbol Meriem and 1 other
Owners
100%ZEWELLDONE
Documentsfilings and deeds
28-10-202689 days late
2025financial year
Gross margin from €88,284 to €467,708Loss of €296,344Merger: PHAGEM takes over DANRIMMO 22-07Merger proposal: PHAGEM SA takes over DANRIMMO SA 09-05Equity from €748,006 to €587,871Cash from €18,102 to €65,125

Key points

from the 2025 annual accounts

Result

-€296,344 -€296,344
€1,0802024-€296,0002025

From profit to loss in 2025, after a profit of €1,077 in 2024.

Investments

€1.1m 11.5 × depreciation
20212022202320242025

Green is investment, beige is depreciation. Land and buildings stand 71.4% higher than in 2024.

Liquidity

2.75 was 0.10 in 2024

Short-term debts fell from €249,702 to €111,472.

Filings

33 annual accounts 89 days
AprilJune31 JulyOctober200020102020

Latest accounts filed late: after the legal deadline.

Position in the sector

-€296,344

Lower net result than 90% of companies in real estate. Sector median €20,526 · 5,817 companies.

Checked score

69
Healthy
Financially stronger than 38% of micro companies in real estate (NACE 68)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026lowest value 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.2%▲ +0.1 percentage points vs 07-2026 09-2026: 0.3%▲ +0.1 percentage points vs 08-2026 10-2026: 0.6%▲ +0.3 percentage points vs 09-2026highest value 11-2026: 0.6%● unchanged vs 10-2026highest value

Financial strength
Weak

68-9equity 42.7% of total assets
56+9short-term debt 8.1% · cash 4.7%
0-68return on assets -21.5%

Score breakdown

raises risk
Loss of €296,344 (financial year 2025)
Last filed accounts filed 89 days late; 1 of the last 3 accounts late
lowers risk
Size: total assets €1.4m
Founded in 1992
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 59% of them on solvency, 67% on liquidity, 4% on profitability and 20% on growth.

The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 929 companies had the same profile as PHAGEM has now. Each dot stands for 3 companies, two years later.

90.1%
were still trading
8.8%
stopped another way
1.1%
went bankrupt
  • Small
  • 20 years or older
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more

That fits the bankruptcy probability of PHAGEM itself: 0.6% within 12 months.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 929 companies, not a prediction for PHAGEM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €40,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 2.75 (0.1 in 2024), above the usual 1.5. Short-term debt is 8.1% and cash 4.7% of total assets. However, 57.3% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
raises risk · Loss of €296,344 (financial year 2025)
NBB · annual accounts
raises risk · Last filed accounts filed 89 days late; 1 of the last 3 accounts late
NBB · filings
lowers risk · Size: total assets €1.4m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Founded in 1992
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · 2025 accounts filed 89 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-10-2026, 89 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
89 days late
2024
66 days early
2023
8 days early
2022
24 days late
2021
25 days late
2020
24 days late
2019
88 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 25 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 August (4 of the last 5 accounts filed within 65 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

BM
Botbol Meriem
Managing director
MD
Malfait David
Director

Shares in 1 company, DANRIMMO

Board & ownership

Recent changes

Merger: PHAGEM takes over DANRIMMO Dissolution of the company · Registered office moved to Brussels · Dissolved without liquidation · General meeting of 27-06-2025 · Gazette deed
Merger proposal: PHAGEM SA takes over DANRIMMO SA Permanent representative: Botbol Meriem · Botbol Management holds 4,200 shares · The company holds all the shares of DANRIMMO SA · Board meeting of 24-04-2025 · Gazette deed
Registered in the Peppol Directory Reachable for e-invoices through 0208:0448499591
3 directors reappointed Mériem Botbol (managing director), Muriel Malfait and David Malfait · General meeting of 13-05-2021 · Gazette deed
All 51 events

Comparable companies

same main activity, similar in size and age
Company
PHAGEM Uccle €1.4m €467,708 42.7% 0
IMMORIEL Kortemark €1.4m €475,549 93.8% 0
IMMOBILIERE J.D. Liège €1.2m €586,167 47.8% 0
BALLYM Brussels €1.8m €435,678 30.8% 0
V D B VASTGOED Genk €1.3m €584,459 52.3% 0
CORPORATION FOR GOVERNMENT SERVICES Herent €2.1m €414,645 6.4% 0
ANTCAR Uccle €2.8m €507,010 90.2% 0.2

These companies have the same main activity as PHAGEM: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €1.2m and €2.8m, founded between 1993 and 2003.

Official details

Source: KBO
Status
Active since 23-10-1992Normal situation
Activity
Renting and operating of own or leased non-residential real estate, excluding landNACE 68203
Establishment unit
2.059.739.7681050 Ixelles, since 30-11-1992
Financial year end
31 December
Peppol
Reachable since 10-03-2025
Company details

Annual accounts 2025

€467,708▲ 430%
≈ €520,000estimated
€296,344
€587,871▼ 21.4%
€1.4m▼ 5.0%
Filing
Filed on 28-10-2026
Financials

Insights on PHAGEM

PHAGEM has existed since 1992. The present size dates from 2025. The gross margin rose that year from €88,284 to €467,708.

Solvency fell in 2025 from 51.7% to 42.7% because of the loss.

ZEWELLDONE holds all the shares.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 28-10-2026, 89 days late
€467,708
▲ 430%
-€199,357
▼ €210,795
-€99,754
▼ €177,766
-€196,741
▼ €264,393
42.7%
▼ 8.9 percentage points
2.75
▲ 2.65

The turnover shown is an estimate from the gross margin.

Turnover ≈ €520,000. Estimated: probably between €490,000 and €640,000.

Money flows

no detail for 2025

Balance sheet

balance sheet total €1.4m on 31-12-2025
What the company ownsHow it is paid for

in euro

in €m

Position in the sector

Compare with sector

42.7%

Higher than 54% of 5,810 companies in 2025.

2.75

Higher than 70% of 5,561 companies in 2025.

-21.5%

Lower than 95% of 5,784 companies in 2025.

PHAGEM Middle half of the sector 80% of the sector Full accounts in real estate (NACE 68)

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

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 1.4m1.4m1.5m1.6m1.7m1.8m1.9m2.0m2.1m1.9m2.1m1.6m1.6m555,337589,977582,308596,526592,816619,334618,405
21/28 1.1m1.4m1.5m1.6m1.7m1.7m1.8m1.9m2.0m1.9m1.9m1.2m1.0m542,947572,400566,732591,828586,482612,554609,356
22/27 1.1m624,743687,486790,959870,523953,7401.0m1.1m1.2m1.1m1.1m1.2m1.0m542,947572,400566,732591,828586,482612,554609,356
22 1.1m623,989686,333790,635869,875952,3671.0m1.1m1.2m1.1m1.1m1.1m980,902511,018533,234560,431575,437570,831594,917589,448
23 ------------------403806
24 3557551,1543246489721,2978,01714,73821,45928,1808,14812,03017,84023,9422,0082,7912,0513,6345,502
26 -----4028031,6822,5603,4394,3175,19612,31814,08915,2244,293----
27 ----------------13,60013,60013,60013,600
28 0798,276790,213790,213790,213790,213790,213790,213790,213797,186813,27665,000--------
29/58 306,07424,80524,27442,80450,77027,46930,40969,18332,33349,842151,178349,318610,16512,39017,57715,5764,6986,3346,7809,049
40/41 235,9441,4845,8895,3667,3564699,8404,2409,24613,5319,5771,357566,4749065,8266,7421,5413,091375176
40 3,9451,4843125,3666,6621433,2077121,5472,8161824521,004-5,8266,7427772,953331176
41 231,99905,577-6943266,6333,5297,69810,7159,396905565,470906--76413844-
54/58 65,12518,10212,68532,17138,40621,95015,68560,02918,98433,431137,577345,66936,9046,1948,2576,3063,1573,2436,4058,873
490/1 5,0045,2195,7005,2675,0095,0504,8844,9144,1032,8804,0232,2926,7875,2903,4942,529----
Balance sheet: equity and liabilities
10/49 1.4m1.4m1.5m1.6m1.7m1.8m1.9m2.0m2.1m1.9m2.1m1.6m1.6m555,337589,977582,308596,526592,816619,334618,405
10/15 587,871748,006746,929748,519684,084636,142578,167593,161510,447554,883499,347465,916369,829183,505137,676107,82288,56579,60973,23670,126
10/11 104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120
10 104,120104,120104,120104,120104,120---------------
100 104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120104,120
13 734,996419,421447,465475,513503,281455,339397,364426,751430,187450,827354,894361,796297,54010,41210,4121,184221221221221
130/1 10,41210,41210,41210,41210,41210,412--------------
130 10,41210,41210,41210,41210,41210,41210,41210,41210,41210,41210,41210,41210,41210,41210,4121,184221221221221
132 495,162179,586207,631235,679263,447290,530313,536342,923346,359366,999271,066277,968287,128-------
133 229,422229,422229,422229,422229,422154,39773,41673,41673,41673,41673,41673,416--------
14 -251,245224,466195,344168,88676,68376,68376,68362,290-23,859-6540,334--31,83168,97323,1442,518-15,777-24,732-31,106-34,215
16 213,16389,562103,544117,521131,443145,136156,863171,930178,348188,976139,578143,132147,849-------
168 213,16389,562103,544117,521131,443145,136156,863171,930178,348188,976139,578143,132147,849-------
17/49 574,689610,257651,500757,936895,978990,1441.1m1.2m1.4m1.2m1.4m962,7741.1m371,832452,301474,486507,961513,207546,098548,279
17 456,590360,555427,203492,205556,088618,878680,601696,962961,092772,3661.0m828,964847,220206,647143,137158,385191,557202,796234,373265,385
170/4 456,590360,555426,703491,705555,588618,378680,101696,462960,592772,3661.0m828,964847,220206,647143,137158,385191,557202,796234,373265,385
178/9 -0500500500500500500500-----------
42/48 111,472249,702224,103265,472338,605369,652438,643530,963405,459410,274425,352133,810250,517164,004308,964316,101316,404310,410311,725282,894
42 95,74866,14765,00263,88362,79061,72384,732261,440119,540299,30773,29481,24772,33029,23435,90933,17338,035---
43 070130,387132,742173,471217,122276,699195,199189,132110,132305,132------31,57731,167-
430/8 070--------------031,57731,167-
439 -0130,387132,742173,471217,122276,699195,199189,132110,132305,132---------
44 4,1712,1701972,23342403147452,9355276,57811,7713,1815,9873,1073,7193,5973,3827,54110,359
440/4 4,1712,1701972,23342403147452,9355276,57811,7713,1815,9873,1073,7193,5973,3827,54110,359
45 5,14611,700-19,05340,45923,41815,32214,0825,42130819,34211,2561,34224,32618,0552,975315630315883
450/3 5,14611,700-19,05340,45923,41815,32214,0825,42130819,34211,2561,34224,32618,0552,975315630315883
47/48 6,408169,61428,51647,56161,84266,98761,74260,19888,431-21,00729,536173,664104,458251,893276,235274,457274,822272,702271,652
492/3 6,62701952591,2851,6144,7581,001747811---1,181200-----
Income statement
70 -----------------84,25279,87379,017
76A -------20,271----444,770-------
9900 467,70888,284128,923172,499151,631116,383115,311230,04258,165212,384224,538268,64186,608119,06591,50966,74455,38052,18051,04941,907
60/61 -----------------32,07328,82537,110
630 99,60366,57566,07099,35398,10796,699102,996102,31770,67048,276117,012113,765156,94132,43832,58030,21530,34529,19929,60227,385
640/8 23,47010,27214,55412,77812,99011,88711,56610,63011,32417,12222,73815,93417,9317,1877,0596,4145,7975,3465,1839,077
66A 543,991040,800-----------------
9901 -199,35711,4377,49960,36940,5347,797749117,094-23,829146,98684,787138,942-88,26479,44051,87030,11519,23917,63516,2635,445
75/76B 0136-36,62434,95971,216126-63840196820751525212111,082
75 0136-36,62434,95971,216126-63840196820751525212111,082
65/66B 18,20913,14113,46114,39815,88217,66822,09926,72330,72542,69137,13139,48022,92010,7648,2349,08710,28511,27213,16310,888
65 18,20913,14113,46114,39815,88217,66822,09926,72330,72530,72237,13139,48022,92010,7648,2349,08710,28511,27213,16310,888
66B ---------11,969----------
9903 -217,566-1,567-5,96282,59559,61261,345-21,33890,378-54,554104,93348,057100,430333,60668,75243,78821,0338,9566,3743,111-4,361
780 18,96013,98213,97813,92213,693---------------
680 72,273-------------------
67/77 25,46411,3379,60532,08225,36315,0978,72314,082510-18,1799,061-56822,92313,9341,77601224
9904 -296,3441,077-1,59064,43447,94257,975-14,99482,713-44,43555,53533,43296,086186,32545,82929,85419,2578,9556,3743,110-4,385
789 37,45328,04428,04827,76927,08323,00629,38729,03220,6419,8666,9029,161--------
689 216,819------25,596-105,799--287,129-------
9905 -475,71029,12126,45892,20375,02580,98214,39386,149-23,795-40,39840,334105,247-100,80445,82929,85419,2578,9556,3743,110-4,385
Appropriation of the result
9906 -251,245224,466195,344168,886151,708157,66476,68362,290-23,859-6540,33473,416-31,83168,97332,3723,481-15,777-24,732-31,105-34,215
14P 224,466195,344168,88676,68376,683---------------
691/2 ----75,02580,982-----73,416--9,228963--0-
6920 -----------0--9,228963--0-
6921 ----75,02580,982-----73,416--------
Social balance sheet
9087 00------------------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 13 older financial years (1993-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 26 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 28-10-2026.

Download as CSV

Filings

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

2025 annual accounts filed 89 days after the deadline. Filed on 28 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00570626.

Financial year Type Filed Reference Document
31-12-2025 full format 28-10-2026 2026-00570626 PDF
31-12-2024 full format 26-05-2025 2025-00105713 PDF
31-12-2023 micro format 23-07-2024 2024-00277891 PDF
31-12-2022 micro format 24-08-2023 2023-00410067 PDF
31-12-2021 micro format 25-08-2022 2022-20328178 PDF
31-12-2020 micro format 24-08-2021 2021-52300188 PDF
31-12-2019 micro format 27-10-2020 2020-63900448 PDF
31-12-2018 micro format 30-08-2019 2019-60000460 PDF
31-12-2017 micro format 27-08-2018 2018-51300053 PDF
31-12-2016 micro format 31-08-2017 2017-59400032 PDF
31-12-2015 full format 30-08-2016 2016-55800363 PDF
31-12-2014 full format 25-08-2015 2015-47900595 PDF
31-12-2013 full format 04-08-2014 2014-39700098 PDF
31-12-2012 full format 11-07-2013 2013-30000251 PDF
31-12-2011 full format 11-07-2012 2012-28900226 PDF
31-12-2010 full format 30-08-2011 2011-50000155 PDF
31-12-2009 full format 24-09-2010 2010-55000542 PDF
31-12-2008 full format 24-06-2009 2009-27000395 PDF
31-12-2007 full format 08-07-2008 2008-36500283 PDF
31-12-2006 full format 05-07-2007 2007-34600245 PDF
31-12-2005 full format 04-07-2006 2006-38604635 PDF
31-12-2004 full format 29-06-2005 2005-35103139 PDF
31-12-2003 full format 25-06-2004 2004-32003250 PDF
31-12-2002 full format 18-08-2003 2003-61804507 PDF
31-12-2001 full format 05-07-2002 2002-34402268 PDF
31-12-2000 full format 26-06-2001 2001-26703570 PDF
31-12-1999 full format 28-06-2000 2000-29900277 PDF
31-12-1998 full format 06-09-1999 1999-44700225 PDF
31-12-1997 full format 31-08-1998 1998-44600802 PDF
31-12-1996 full format 12-08-1997 1997-37703972 PDF
31-12-1995 full format 11-07-1996 1996-31902622 PDF
31-12-1994 full format 16-06-1995 1995-25501356 PDF
31-12-1993 full format 04-07-1994 1994-25904654 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
-99,75478,01273,569159,721138,641104,496103,744219,41246,840195,262201,799252,70768,677111,87884,45060,33149,58346,83445,86532,830
-196,74167,65264,481163,787146,049154,67488,002185,03126,235103,811150,444209,852343,26678,26762,43449,47339,30035,57332,71223,000
1.1m11,8953,39819,78914,88912,0306,785106,391223,93757,7591.2m546,0381.0m2,98539,6375,11935,6903,12732,8011,750
47,0245,416-19,486-6,23416,4556,265-44,34441,045-14,447-104,146-208,091308,76530,710-2,0631,9513,149-86-3,162-2,468-
194,602-224,896-199,829-222,668-287,835-342,183-408,234-461,779-373,127-360,432-274,174215,508359,648-151,614-291,387-300,525-311,706-304,077-304,946-273,845
-----------------20.9%20.4%6.9%
42.7%51.7%49.7%46.1%40.0%35.9%31.1%29.7%24.8%28.8%23.9%29.6%22.9%33.0%23.3%18.5%14.8%13.4%11.8%11.3%
2.750.100.110.160.150.070.070.130.080.120.362.612.440.080.060.050.010.020.020.03
0.980.820.871.011.311.561.942.072.682.132.902.072.972.033.294.405.746.457.467.82
-50.4%0.1%-0.2%8.6%7.0%9.1%-2.6%13.9%-8.7%10.0%6.7%20.6%50.4%25.0%21.7%17.9%10.1%8.0%4.2%-6.3%
-21.5%0.1%-0.1%4.0%2.8%3.3%-0.8%4.1%-2.2%2.9%1.6%6.1%11.5%8.3%5.1%3.3%1.5%1.1%0.5%-0.7%
-5.485.945.4711.098.73---------------
-----------------13 days2 days1 day
-----------------38 days95 days102 days

EBIT margin: not included in this filing.

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.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€1.1m€3,832€3,398€19,789€14,889
Financial fixed assets€0€8,063---
€99,603€66,575€66,070€99,353€98,107

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

Insights on PHAGEM

The operating result for 2025 is a loss of €199,357, after a profit of €11,437 in 2024. It is the lowest result since 2006.

Debt's share of the balance-sheet total falls from 42.1% to 41.8%. Equity and debt are lower.

Board & ownership

Board

2 directors, 1 in day-to-day management, last change in 2025
Botbol Meriem
Director (not named in the articles) and managing director
director (not named in the articles) current term since 13-05-2021 managing director in office according to the deed of 18-10-2021 term without a fixed end
listed in the 2025 annual accounts, filed on 28-10-2026
Malfait David
Director (not named in the articles)
current term since 13-05-2021 term without a fixed end
listed in the 2025 annual accounts, filed on 28-10-2026
Botbol Meriem

Office holders in the KBO →

Mandates through the years

3 names, the dashed line is today
Botbol Meriem
Director, Managing director
Malfait David
Director
Muriel Malfait
Director
LeadershipBoardEarliermandate already running before its first mentionend not dated
Mandates as a list
  • Botbol Meriem
    • Director, since before 13-05-2016
    • Managing director, since before 18-10-2021
  • Malfait David
    • Director, since before 13-05-2016
  • Muriel Malfait
    • Director, from before 13-05-2016, no longer listed in the 2025 annual accounts

See the board, name and registered office on a given date →

Control

Parent
ZEWELLDONE
Equity -€22,865
Loss €27,978 in 2025 (loss €5,052 in 2024)
Checked score 53
Source: accounts ZEWELLDONE 2025
100%
This company
PHAGEM
Equity €587,871
Loss €296,344 in 2025

Capital

Capital
€104,120
Shares
4,200
Contribution per share
€24.79
Equity per share
€140 in 2025
Source
deed of 09-05-2025

Owners through the years

as the annual accounts name them
ZEWELLDONE
100%
100%
Owners as a list

Source: lists of holdings in the owners' accounts

Articles of association

deed of 22-07-2025 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Tuesday of June at 11:00
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Assemblée générale désigne un ou plusieurs liquidateurs et détermine pouvoirs et émoluments, si aucun autre liquidateur…”

Capital transactions

Shareholders according to the deeds
Stated in the deed deed of 09-05-2025 ↗
Capital over time
  1. 09-05-2025 Capital stated in the deed · €104,120 · 4,200 shares

Network & group

Holdings

own 2024 accounts, the bar shows equity in euros
This companyPHAGEM1 holding, 1 country 2024 accounts

Belgium 1 Equity Result

  • BE DANRIMMOno longer active €390,595 result €36,548

Source: list of holdings in its own 2024 accounts. Every holding stands with its own latest accounts.

Parent

ZEWELLDONE
0542.506.944 · 100% of the shares · equity -€22,865 · loss €27,978 (2025)
Checked score 53

At the same address

Joseph Bensstraat 18, 1180 Uccle · 2 other companies
ZEWELLDONE
establishment since 01-07-2024 · founded in 2013 · negative equity (2025)
 total assets €1.8m (2025)
0542.506.944
Bérel, Antoine (sole trader)
establishment since 15-01-2024
 founded in 2024
1005.197.934

Holdings and subsidiaries

1 holding

Holdings 1

Share, source and own figures per holding (1)
Holdings through the years 2021 to 2024
Holdings through the years
Name2021202220232024
DANRIMMO 99%100%

Source: list of holdings in its own accounts

Acquisitions and mergers

1 transaction
Took over:DANRIMMO
BE 0437.617.775operation treated as a merger by absorption · Gazette deed of 22-07-2025 (3 deeds) · effective 24-04-2025

Connections & network

2 current directors
Depth

The network starts from the directors of PHAGEM. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

51 events since 1992

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 89 days late
2025
Weakest financial year net -€296,344 The net result drops to -€296,344, the lowest from 2006 to 2025.
Liquidity more than 27 times current ratio 2.75 The current ratio rises from 0.10 to 2.75. Short-term debt falls from €249,702 to €111,472.
Merger: PHAGEM takes over DANRIMMODissolution of the company · Registered office moved to Brussels · Dissolved without liquidation · General meeting of 27-06-202510 points ▸
  • General meeting, 27-06-2025
  • Accounting effect, 01-01-2025
  • Legal-form conversion, from public limited company to private limited company
  • Power of attorney, Olivier Neyrinck
  • Director appointment, Malfait David (director (not named in the articles))
  • Director appointment, Botbol Meriem (director (not named in the articles))
  • Director discharge, Malfait David
  • Director discharge, Botbol Meriem
  • Registered-office move, Forest (1190 Bruxelles), Avenue Minerve 24
  • Registered office clause, Forest (1190 Bruxelles), Avenue Minerve 24
  • The deed holds 17 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2024 filed PDFfull format · 66 days before the deadline
Merger proposal: PHAGEM SA takes over DANRIMMO SAPermanent representative: Botbol Meriem · Botbol Management holds 4,200 shares · The company holds all the shares of DANRIMMO SA · Board meeting of 24-04-202517 points ▸

Open the deed in the Belgian Official Gazette

Registered in the Peppol Directory Reachable for e-invoices through 0208:0448499591
2024
Back to profit net €1,077 The net result is €1,077, after one loss-making year.
Annual accounts 2023 filed PDFmicro format · 8 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 24 days late
2022
Annual accounts 2021 filed PDFmicro format · 25 days late
2021
3 directors reappointedMériem Botbol (managing director), Muriel Malfait and David Malfait · General meeting of 13-05-20218 points ▸
  • General meeting, 13-05-2016
  • Director reappointment, Mériem Botbol, mentioned twice in the deed
  • Director reappointment, Muriel Malfait, mentioned twice in the deed
  • Director reappointment, David Malfait, mentioned twice in the deed
  • Board meeting, 13-05-2016
  • Director reappointment, Mériem Botbol (managing director)
  • General meeting, 13-05-2021
  • Board meeting, 13-05-2021

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFmicro format · 24 days late
2020
Back to profit net €57,975 The net result is €57,975, after one loss-making year.
Annual accounts 2019 filed PDFmicro format · 88 days late
2019
Annual accounts 2018 filed PDFmicro format · 30 days late
2018
Back to profit net €82,713 The net result is €82,713, after one loss-making year.
Annual accounts 2017 filed PDFmicro format · 27 days late
2017
Annual accounts 2016 filed PDFmicro format · 31 days late
2016
Equity above €500,000 equity €554,883 ▲11.1% After 10 profitable years in a row, equity reaches €554,883.
Annual accounts 2015 filed PDFfull format · 30 days late
2015
Annual accounts 2014 filed PDFfull format · 25 days late
2014
Annual accounts 2013 filed PDFfull format · 4 days late
2013
Highest result from 2006 to 2025 net €186,325 ▲307% The net result of €186,325 is the highest of those years.
Liquidity more than 32 times current ratio 2.44 The current ratio rises from 0.08 to 2.44.
Equity above €200,000 equity €369,829 ▲102% After 7 profitable years in a row, equity reaches €369,829.
Annual accounts 2012 filed PDFfull format · 20 days before the deadline
2012
Equity above €150,000 equity €183,505 ▲33.3% After 6 profitable years in a row, equity reaches €183,505.
Annual accounts 2011 filed PDFfull format · 20 days before the deadline
2011
Annual accounts 2010 filed PDFfull format · 30 days late
2010
Equity above €100,000 equity €107,822 ▲21.7% After 4 profitable years in a row, equity reaches €107,822.
Annual accounts 2009 filed PDFfull format · 55 days late
2009
Annual accounts 2008 filed PDFfull format · 37 days before the deadline
2008
Annual accounts 2007 filed PDFfull format · 23 days before the deadline
2007
Back to profit net €3,110 The net result is €3,110, after one loss-making year.
Annual accounts 2006 filed PDFfull format · 26 days before the deadline
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1992
First establishment PHAGEM SA, Johannalaan 8, Ixelles
Incorporation published on 17-11-1992

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

PHAGEM was incorporated on 23 October 1992.1 In 2025 the company absorbed DANRIMMO by merger.2 The company has filed 33 sets of annual accounts, the latest for financial year 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 22-07-2025
  3. 3National Bank, annual accounts 2025

Company details

Identity

Enterprise number
0448.499.591
VAT number
BE 0448.499.591
Peppol ID
0208:0448499591
Other Peppol ID
9925:BE0448499591
Legal form
Private limited company
Status
Active, normal situation
Founded
23-10-1992
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Tuesday of June at 11:00
deed of 22-07-2025 (in French)
Peppol
Reachable since 10-03-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
PHAGEM in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 22-07-2025 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale”
deed of 22-07-2025 (in French)

Activities

NACEBEL 2025
68203 Renting and operating of own or leased non-residential real estate, excluding land main activity
Codes under NACEBEL 2008
68203 Real estate rental main activity
Codes under NACEBEL 2003
70203 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“L'acquisition, la vente, l'échange, la mise en location, la gestior, l'administration, l'entretien, la rénovation, la transformation, la…”
12 activities
  1. L'acquisition, la vente, l'échange, la mise en location, la gestior, l'administration, l'entretien, la rénovation, la transformation, la mise en valeur et l'exploitation de biens immobiliers, bâtis ou non bâtis, détenus en pleine propriété, en indivision, en usufruit ou en nue-propriété;
  2. Toutes opérations immobilières, mobilières ou financières en rapport direct ou indirect avec l'objet immobilier de la société, à l'exclusion de toute activité soumise à une réglementation spécifique non respectée par la société.
  3. L'exercice de la profession de pharmacien remplaçant, dans les conditions légales et déontologiques prévues par la législation belge, notamment dans le cadre de missions temporaires de remplacement au sein d'officines pharmaceutiques agréées, à l'exclusion de l'exploitation directe d'une officine par la société elle-même;
  4. La mise à disposition des compétences ou du savoir-faire pharmaceutique de ses associés ou collaborateurs dans le cadre de prestations de remplacement, de conseil ou de formation, à titre accessoire et dans le respect des normes professionnelles applicables.
  5. Objets d'antiquité, objets d'art, objets de collection et objets décoratifs;
  6. Bijoux anciens ou contemporains, mcntres, pierres précieuses et semi-précieuses, métaux précieux;
  7. Oeuvres d'art originales telles que peintures, dessins, gravures, sculptures, photographies, installations artistiques
  8. Mobilier ancien ou moderne, mobilier design, artisanal ou industriel, articles d'ameublement et de décoration.
  9. La participation à des foires, salons, marchés d'art, ventes aux enchères publiques ou privées, expositions et événements commerciaux ou culturels en lien avec les secteurs précités;
  10. L'activité de conseil, d'intermédiation, d'évaluation, d'estimation, d'authentification d'objets d'art, bijoux, antiquités, mobilier et objets de valeur;
  11. D'expertise, d'inventaire ou
  12. La création, la production, l'édition et la vente de catalogues, brochures, contenus numériques, supports de communication, sites internet, plateformes de vente ou de promotion liés à ces activités:
deed of 22-07-2025 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Joseph Bensstraat 18 registered office 1180 Uccle
PHAGEM SA Johannalaan 8, 1050 Ixelles 4618032 Agents specialised in the wholesale of other particular products 30-11-1992 2.059.739.768

Buildings and parcels at the addresses

Ground area
1,233 m²
Buildings
642 m²
Volume, LiDAR
9,392 m³
Tallest building
25.3 m
Buildings to scale, each on its own parcel
418 m², 16.7 m 224 m², 25.3 m 418 m², 16.7 m 224 m², 25.3 m

Location

registered office establishment The establishment unit on the map
3 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
21616A0236/00W000906 m² 1 · 418 m² 16.7 m · 4
21445E0006/00C037327 m² 1 · 224 m² 25.3 m · 7

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