Equity
€437,036 from €1.3m in 2021
Equity fell by 67% in 4 years.
PHALADEL
Lifetime
20 annual accounts with figures on one time axis, 49 filings since 1977peak €279,682 (2022)
€269,402▲ 12.3%
peak €107,376 (2013)
€2,481▼ 95.3%
peak €1.3m (2021)
€437,036▲ 0.6%
€257,109▼ 72.5%
peak 4 FTE (2025)
4 FTE▲ 11.1%
Board4 names since 2020
1 directorPHARMACIE BLONDEAU - VANDER CASSYEN
Owners
Documentsfilings and deeds
02-07-202629 days before the deadline
2025financial year
Gross margin from €239,947 to €269,402Result from €53,080 to €2,481Staff from 3.6 FTE to 4 FTEDebts from €936,559 to €257,109Investments €141,300
Key points
from the 2025 annual accountsResult
€2,481 ▼ 95.3%
The result fell in 2025 from €53,080 to €2,481.
Turnover
≈ €960,000 estimated
The accounts state no turnover.
Investments
€141,300 6.3 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 492.4% higher than in 2024.
Liquidity
3.49 was 1.43 in 2024
Short-term debts fell from €925,774 to €151,999.
Filings
49 annual accounts since 1977
Seven of the last ten came late. The 2023 accounts came latest: 43 days after the end of the period.
Checked score
90
Excellent
Financially stronger than 57% of micro companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025lowest value
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.3%▲ +0.1 percentage points vs 07-2025highest value
09-2025: 0.3%● unchanged vs 08-2025
10-2025: 0.3%● unchanged vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.2%▼ -0.1 percentage points vs 03-2026
05-2026: 0.3%▲ +0.1 percentage points vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 of the last 3 accounts late
Sector: Retail trade (NACE 47)
lowers risk
Founded in 1977
Liquidity: current ratio 3.49, cash €66,728
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 47, micro). It does better than 75% of them on solvency, 60% on liquidity, 50% on profitability and 41% 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 very low class on 30-06-2025, 0.1% 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, 17,041 companies had the same profile as PHALADEL has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHALADEL itself: 0.2% 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.
| 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 17,041 companies, not a prediction for PHALADEL. 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 €35,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.49 (1.43 in 2024), above the usual 1.5. Short-term debt is 21.9% and cash 9.6% of total assets. 37% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
4 days late
2023
43 days late
2022
26 days early
2021
31 days late
2020
26 days early
2019
28 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 4 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% 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 4 August (4 of the last 5 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- PHARMACIE BLONDEAU - VANDER CASSYEN 100%score 89equity €1.3m (2025) · 2025 annual accounts of PHARMACIE BLONDEAU - VANDER CASSYEN
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0417176313
1 director appointed, 3 resignations
Resignations: Guy DELTENRE, Nicole DEVOLDRE and Anne DELTENRE · Appointment: PHARMACIE BLONDEAU-VANDER CASSYEN · Permanent representative: Virginie VANDER CASSYEN · General meeting of 30-06-2023 · Gazette deed
Resignations & appointments
Director in office: Anne DELTENRE · General meeting of 14-08-2021 · Gazette deed
3 directors reappointed
Guy DELTENRE (managing director and chair of the board), Nicole DEVOLDRE and Anne DELTENRE · General meeting of 02-06-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PHALADEL Braine-le-Comte | €694,145 | €269,402 | 63.0% | 4 |
| SOBEN Pharma Station Esneux | €732,996 | €265,036 | 5.8% | 3.7 |
| PHARMACIE NEUVE CHAUSSEE Péruwelz | €622,072 | €310,478 | 31.3% | 3.5 |
| APOTHEEK DENYS Ghent | €625,086 | €306,705 | 21.9% | 4 |
| Pharmacie de la Semois Ciney | €693,373 | €261,046 | 31.6% | 3.7 |
| PHARMACIE DECROUEZ Rixensart | €801,037 | €228,425 | -19.3% | 4.3 |
| PHARDUP Etterbeek | €817,511 | €269,027 | 22.7% | 4 |
These companies have the same main activity as PHALADEL: retail sale of pharmaceutical products (NACE 47730). They are comparable in size and age: total assets between €622,000 and €818,000, founded between 1979 and 1988.
Official details
Source: KBO- Status
- Active since 10-05-1977Normal situation
- Activity
- Retail sale of pharmaceutical productsNACE 47730
- Establishment unit
- 2.013.642.7947090 Braine-le-Comte, since 10-05-1977
- Financial year end
- 31 December
- Peppol
- Reachable since 11-12-2025
Annual accounts 2025
- €694,145▼ 49.4%
- Employeeson 31-12-2025
- 6▲ 20.0%
- Filing
- Filed on 02-07-2026, 29 days before the end of the filing period
Insights on PHALADEL
PHALADEL has existed since 1977. The gross margin grew from €211,423 in 2006 to €269,402 in 2025 and staff from 2.8 to 4 full-time equivalents.
Solvency rose in 2025 from 31.7% to 63.0% because of the retained profit and lower debts.
PHARMACIE BLONDEAU - VANDER CASSYEN holds all the shares. In July 2023, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PHALADEL
- What is the company number of PHALADEL?
- The company number of PHALADEL is 0417.176.313. The VAT number is the same number with BE in front: BE 0417.176.313.
- Where is PHALADEL based?
- The registered office is at Rue de la Station 78, 7090 Braine-le-Comte.Company details
- What does PHALADEL do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of PHALADEL?
- PHALADEL is a public limited company (NV).
- When was PHALADEL founded?
- PHALADEL was founded on 10-05-1977.
- Is PHALADEL still active?
- Yes, PHALADEL is an active enterprise in the KBO register.
- How many employees does PHALADEL have?
- PHALADEL had an average of 4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of PHALADEL?
- The turnover in financial year 2025 is ≈ €960,000. This figure is estimated from the gross margin of €269,402 and 47 comparable companies (NACE 477). It probably lies between €730,000 and €1.5m.
- Is PHALADEL profitable?
- In financial year 2025, PHALADEL made a profit of €2,481.
- Where can I find the annual accounts of PHALADEL?
- PHALADEL filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PHALADEL due?
- PHALADEL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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