PHARMA LINK
ActiveSummary
PHARMA LINK has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €289,022 and a net result of €230,219. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 40% of 9619 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability99▲+9
Solvency55▲+2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity tight (current ratio 1.46 against 1.38 in 2023; short-term debt: 44.3% and cash: 9.8% of total assets), and 69.7% of the assets are financed with debt.
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Signals
Four 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 →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-08-2025, 13 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
13 d late
2023
8 d late
2022
122 d early
2021
11 d late
2020
4 d early
2019
21 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 12 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 (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€289,022▼ 2.6%
2023 · €296,804
Total assets
€954,545▼ 9.1%
2023 · €1.0m
Net result
€230,219▲ 28.3%
2023 · €179,447
Working capital
€192,494▲ 7.5%
2023 · €179,026
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
Line20202021202220232024
Operating result€143,427▲ 9.4%€157,493▲ 9.8%€219,864▲ 39.6%€248,773▲ 13.1%€316,951▲ 27.4%
Net result€113,016above the sector's middle half▼ 7.7%€109,254within the sector's middle half▼ 3.3%€155,735above the sector's middle half▲ 42.5%€179,447above the sector's middle half▲ 15.2%€230,219above the sector's middle half▲ 28.3%
Equity€165,218within the sector's middle half▼ 61.3%€191,972within the sector's middle half▲ 16.2%€347,707within the sector's middle half▲ 81.1%€296,804within the sector's middle half▼ 14.6%€289,022within the sector's middle half▼ 2.6%
Total assets€1.2mwithin the sector's middle half▲ 2.7%€985,746within the sector's middle half▼ 18.0%€864,653within the sector's middle half▼ 12.3%€1.0mwithin the sector's middle half▲ 21.4%€954,545within the sector's middle half▼ 9.1%
Debt€1.0m▲ 39.6%€793,774▼ 23.4%€516,946▼ 34.9%€752,803▲ 45.6%€665,522▼ 11.6%
Working capital-€82,953-€4,413▲ 94.7%€182,690€179,026▼ 2.0%€192,494▲ 7.5%
Solvency13.7%below the sector's middle half▼ 22.8pp19.5%within the sector's middle half▲ 5.7pp40.2%within the sector's middle half▲ 20.7pp28.3%within the sector's middle half▼ 11.9pp30.3%within the sector's middle half▲ 2.0pp
Staff (FTE)1.8within the sector's middle half=1.7within the sector's middle half▼ 5.6%1below the sector's middle half▼ 41.2%1below the sector's middle half=2.2within the sector's middle half▲ 120%
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 has risen four years in a row; 2024 is 27% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €954,545
Fixed assets
€339,053 ▼ 14.3%
Current assets
€615,491 ▼ 5.9%
Equity and liabilities €954,545
Equity
€289,022 ▼ 2.6%
Debt
€665,522 ▼ 11.6%
Debt's share of the balance-sheet total falls from 71.7% to 69.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€378,944▲
2023 · €309,479
Cash flow
€292,211▲
2023 · €240,153
Current ratio
1.46▲
2023 · 1.38
Quick ratio
1.16▲
2023 · 1.13
Debt to equity
2.30▼
2023 · 2.54
ROE
79.7%▲
2023 · 60.5%
ROA
24.1%▲
2023 · 17.1%
Interest coverage
50.45▲
2023 · 30.90
Debt ≤ 1 year
€422,997▼
2023 · €474,844
Debt > 1 year
€242,525▼
2023 · €275,872
Income taxes
€79,727▲
2023 · €60,235
Staff costs
€74,259▲
2023 · €60,739
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 0.5% 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €81,154 | €37,656 | €60,739 | €74,259 | ▲ 22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,621 | €80,316 | €76,732 | €60,707 | €61,993 | ▲ 2.1% |
| Other operating charges640/8 | - | €4,270 | €5,848 | €10,051 | €3,431 | ▼ 65.9% |
| Gross operating margin9900 | €328,318 | €323,233 | €340,100 | €380,269 | €456,634 | ▲ 20.1% |
| Operating profit (loss)9901 | €143,427 | €157,493 | €219,864 | €248,773 | €316,951 | ▲ 27.4% |
| Financial income75/76B | - | €713 | €595 | €923 | €505 | ▼ 45.2% |
| Recurring financial income75 | €1,236 | €713 | €595 | €923 | €505 | ▼ 45.2% |
| Financial charges65/66B | - | €8,306 | €7,071 | €10,015 | €7,511 | ▼ 25.0% |
| Recurring financial charges65 | €9,325 | €8,306 | €7,071 | €10,015 | €7,511 | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €135,338 | €149,900 | €213,388 | €239,681 | €309,945 | ▲ 29.3% |
| Income taxes67/77 | €22,322 | €40,646 | €57,653 | €60,235 | €79,727 | ▲ 32.4% |
| Profit (loss) for the period9904 | €113,016 | €109,254 | €155,735 | €179,447 | €230,219 | ▲ 28.3% |
| Profit (loss) for the period to be appropriated9905 | €113,016 | €109,254 | €155,735 | €179,447 | €230,219 | ▲ 28.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €985,746 | €864,653 | €1.0m | €954,545 | ▼ 9.1% |
| Fixed assets21/28 | €669,232 | €563,984 | €489,425 | €395,737 | €339,053 | ▼ 14.3% |
| Tangible fixed assets22/27 | €669,195 | €563,947 | €489,388 | €395,700 | €339,016 | ▼ 14.3% |
| Land and buildings22 | - | €364,343 | €331,746 | €312,457 | €278,506 | ▼ 10.9% |
| Plant, machinery and equipment23 | - | €146,578 | €118,299 | €81,725 | €59,451 | ▼ 27.3% |
| Furniture and vehicles24 | - | €53,026 | €39,343 | €1,518 | €1,059 | ▼ 30.2% |
| Financial fixed assets28 | €37 | €37 | €37 | €37 | €37 | = |
| Current assets29/58 | €532,439 | €421,762 | €375,228 | €653,870 | €615,491 | ▼ 5.9% |
| Stocks and contracts in progress3 | €127,968 | €104,818 | €128,223 | €119,400 | €123,259 | ▲ 3.2% |
| Stocks30/36 | - | €104,818 | €128,223 | €119,400 | €123,259 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €223,546 | €151,079 | €138,851 | €395,496 | €398,854 | ▲ 0.8% |
| Trade receivables40 | - | €147,075 | €133,061 | €132,230 | €144,812 | ▲ 9.5% |
| Other amounts receivable41 | - | €4,003 | €5,791 | €263,265 | €254,042 | ▼ 3.5% |
| Current investments50/53 | €248 | €248 | - | - | - | - |
| Cash at bank and in hand54/58 | €172,379 | €158,105 | €101,007 | €138,554 | €93,379 | ▼ 32.6% |
| Deferred charges and accrued income490/1 | - | €7,513 | €7,147 | €420 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €985,746 | €864,653 | €1.0m | €954,545 | ▼ 9.1% |
| Equity10/15 | €165,218 | €191,972 | €347,707 | €296,804 | €289,022 | ▼ 2.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €103,202 | €129,700 | €285,700 | €234,350 | €226,350 | ▼ 3.4% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €123,500 | €279,500 | €228,150 | €220,150 | ▼ 3.5% |
| Profit (loss) carried forward14 | €16 | €272 | €7 | €454 | €672 | ▲ 48.2% |
| Amounts payable17/49 | €1.0m | €793,774 | €516,946 | €752,803 | €665,522 | ▼ 11.6% |
| Amounts payable after more than one year17 | €414,663 | €366,174 | €321,320 | €275,872 | €242,525 | ▼ 12.1% |
| Financial debts170/4 | - | €366,174 | €321,320 | €275,872 | €242,525 | ▼ 12.1% |
| Amounts payable within one year42/48 | €615,391 | €426,174 | €192,538 | €474,844 | €422,997 | ▼ 10.9% |
| Current portion of amounts payable after more than one year42 | - | €48,489 | €44,854 | €45,448 | €33,346 | ▼ 26.6% |
| Financial debts43 | - | €153 | - | - | - | - |
| Credit institutions430/8 | - | €153 | - | - | - | - |
| Trade debts44 | €111,582 | €145,456 | €106,591 | €118,980 | €137,412 | ▲ 15.5% |
| Suppliers440/4 | - | €145,456 | €106,591 | €118,980 | €137,412 | ▲ 15.5% |
| Advances received on contracts in progress46 | - | - | - | - | €3,888 | - |
| Taxes, remuneration and social security45 | - | €13,978 | €11,293 | €11,191 | €10,152 | ▼ 9.3% |
| Taxes450/3 | - | €6,469 | €3,604 | €2,879 | - | - |
| Remuneration and social security454/9 | - | €7,509 | €7,689 | €8,312 | €10,152 | ▲ 22.1% |
| Other amounts payable47/48 | - | €218,098 | €29,800 | €299,225 | €238,200 | ▼ 20.4% |
| Accrued charges and deferred income492/3 | - | €1,425 | €3,089 | €2,088 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €113,016 | €109,254 | €155,735 | €179,447 | €230,219 | ▲ 28.3% |
| + Depreciation and write-downs630 | €89,621 | €80,316 | €76,732 | €60,707 | €61,993 | ▲ 2.1% |
| Operating cash flow (approximation) | €202,637 | €189,571 | €232,467 | €240,153 | €292,211 | ▲ 21.7% |
| Investment in fixed assets (approximation) | - | €24,932 | -€2,173 | €32,982 | -€5,309 | ▼ 116% |
| Change in cash | - | -€14,274 | -€57,098 | €37,547 | -€45,176 | ▼ 220% |
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
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 13 days late
2024
31-12
Financial
Highest result since 2018net €230,219 ▲28.3%
Operating result €316,951, net result €230,219, both a record.
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 8 days late
2023
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200,000Eq €347,707 ▲81.1%
5 profitable years in a row build equity to €347,707.
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 11 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 21 days late
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 10 days late
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Lichtervelde · 1 establishment unit since 1998
Ground area
292 m²
Building footprint
328 m²
Volume, LiDAR
1,810 m³
Parcel 36011F0207/00L000, Flanders · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PHARMA LINK NV
since 19982.087.702.492
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36011F0207/00L000 | Flanders | 292 m² | 1 · 328 m² | 11.8 m · 2 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
- Lobelia Pharma
- PHARMA LINK
Highest known parent: Lobelia Pharma. The sources do not say who stands above it.
Owners 1
- Lobelia Pharmaparent99.2%
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 siteLichtervelde2.087.702.492
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,508 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
Founded12-05-1998
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463340789
Also
9925:BE0463340789
Registered
21-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.