PHARMA MANAGEMENT
ActiveSummary
PHARMA MANAGEMENT has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.18M and a net result of €377k. Equity is shrinking by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 54% of 1004 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+8
Solvency62▼-11
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.99 in 2024; short-term debt: 53.9% and cash: 1.1% of total assets), and 62.9% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
37.1%
Return on assets
11.9%
Age of the figures
9 mo
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
24 d early
2023
29 d late
2022
23 d late
2021
52 d late
2020
30 d late
2019
54 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, full schema
In the rankings
#2 company by total assets in Landen, Professional and technical services sector#2 oldest company in Landen, Professional and technical services sector#3 company by equity in Landen, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€377k▲ 94.4%
2024 · €194k
Working capital
€-1.53M▼ 50,772%
2024 · €-3k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€276k▼ 6.1%€339k▲ 22.8%€316k▼ 6.8%€288k▼ 8.9%€31k▼ 89.1%
Net result€184k▼ 6.2%€227k▲ 23.8%€213k▼ 6.4%€194k▼ 8.9%€377k▲ 94.4%
Equity€2.18M▲ 9.2%€2.41M▲ 10.4%€1.52M▼ 36.9%€1.71M▲ 12.8%€1.18M▼ 31.2%
Total assets€4.18M▲ 5.0%€4.28M▲ 2.2%€3.49M▼ 18.4%€3.54M▲ 1.4%€3.18M▼ 10.2%
Debt€2.00M▲ 0.8%€1.87M▼ 6.7%€1.97M▲ 5.4%€1.82M▼ 7.4%€2.00M▲ 9.6%
Working capital€674k▲ 15.1%€750k▲ 11.2%€-171k€-3k▲ 98.2%€-1.53M▼ 50,772%
Staff (FTE)3.4▲ 3.0%2.3▼ 32.4%2.3=2.5▲ 8.7%2.5=
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 89% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.18M
Fixed assets
€2.99M ▼ 1.2%
Current assets
€186k ▼ 63.5%
Equity and liabilities €3.18M
Equity
€1.18M ▼ 31.2%
Debt
€2.00M ▲ 9.6%
Debt's share of the balance-sheet total rises from 51.6% to 62.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€68k▼
2024 · €324k
Cash flow
€413k▲
2024 · €230k
Current ratio
0.11▼
2024 · 0.99
Debt to equity
1.70▲
2024 · 1.07
ROE
32.0%▲
2024 · 11.3%
ROA
11.9%▲
2024 · 5.5%
Interest coverage
9.18▼
2024 · 37.91
Debt ≤ 1 year
€1.71M▲
2024 · €512k
Debt > 1 year
€283k▼
2024 · €1.31M
Income taxes
€48k▼
2024 · €88k
Staff costs
€113k▲
2024 · €81k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €201k | €154k | €173k | €81k | €113k | ▲ 40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €19k | €35k | €36k | €36k | = |
| Other operating charges640/8 | €3k | €2k | €2k | €2k | €2k | ▲ 3.4% |
| Gross operating margin9900 | €497k | €514k | €526k | €407k | €183k | ▼ 55.0% |
| Operating profit (loss)9901 | €276k | €339k | €316k | €288k | €31k | ▼ 89.1% |
| Financial income75/76B | - | €0 | €2k | €3k | €400k | ▲ 14,021% |
| Recurring financial income75 | - | €0 | €2k | €3k | €400k | ▲ 14,021% |
| Financial charges65/66B | €11k | €10k | €10k | €9k | €7k | ▼ 13.5% |
| Recurring financial charges65 | €11k | €10k | €10k | €9k | €7k | ▼ 13.5% |
| Profit (loss) for the period before taxes9903 | €265k | €329k | €308k | €282k | €424k | ▲ 50.5% |
| Income taxes67/77 | €81k | €101k | €95k | €88k | €48k | ▼ 46.0% |
| Profit (loss) for the period9904 | €184k | €227k | €213k | €194k | €377k | ▲ 94.4% |
| Profit (loss) for the period to be appropriated9905 | €184k | €227k | €213k | €194k | €377k | ▲ 94.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.18M | €4.28M | €3.49M | €3.54M | €3.18M | ▼ 10.2% |
| Fixed assets21/28 | €3.02M | €3.09M | €3.06M | €3.03M | €2.99M | ▼ 1.2% |
| Tangible fixed assets22/27 | €425k | €496k | €468k | €431k | €395k | ▼ 8.4% |
| Land and buildings22 | €423k | €406k | €390k | €373k | €357k | ▼ 4.4% |
| Plant, machinery and equipment23 | €2k | €2k | €1k | €950 | €470 | ▼ 50.5% |
| Furniture and vehicles24 | - | €87k | €76k | €57k | €38k | ▼ 34.0% |
| Financial fixed assets28 | €2.60M | €2.60M | €2.60M | €2.60M | €2.60M | = |
| Current assets29/58 | €1.16M | €1.18M | €424k | €509k | €186k | ▼ 63.5% |
| Amounts receivable within one year40/41 | €970k | €889k | €159k | €179k | €141k | ▼ 21.4% |
| Trade receivables40 | €952k | €15k | €18k | €13k | €6k | ▼ 52.2% |
| Other amounts receivable41 | €18k | €874k | €141k | €166k | €134k | ▼ 18.9% |
| Current investments50/53 | - | €230k | €214k | €255k | €4 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €187k | €56k | €44k | €69k | €36k | ▼ 47.4% |
| Deferred charges and accrued income490/1 | €3k | €8k | €8k | €7k | €9k | ▲ 28.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.18M | €4.28M | €3.49M | €3.54M | €3.18M | ▼ 10.2% |
| Equity10/15 | €2.18M | €2.41M | €1.52M | €1.71M | €1.18M | ▼ 31.2% |
| Contributions10/11 | €1.03M | €1.03M | €62k | €62k | €62k | = |
| Capital10 | €1.03M | €1.03M | €62k | €62k | €62k | = |
| Issued capital100 | €1.03M | €1.03M | €62k | €62k | €62k | = |
| Reserves13 | €1.15M | €1.38M | €1.46M | €1.65M | €1.12M | ▼ 32.4% |
| Non-distributable reserves130/1 | €103k | €103k | €103k | €103k | €103k | = |
| Legal reserve130 | €103k | €103k | €103k | €103k | €103k | = |
| Distributable reserves133 | €1.05M | €1.28M | €1.35M | €1.55M | €1.01M | ▼ 34.5% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €2.00M | €1.87M | €1.97M | €1.82M | €2.00M | ▲ 9.6% |
| Amounts payable after more than one year17 | €1.52M | €1.44M | €1.37M | €1.31M | €283k | ▼ 78.4% |
| Financial debts170/4 | €1.52M | €1.44M | €1.37M | €1.31M | €283k | ▼ 78.4% |
| Amounts payable within one year42/48 | €486k | €433k | €595k | €512k | €1.71M | ▲ 235% |
| Current portion of amounts payable after more than one year42 | €60k | €61k | €62k | €63k | €64k | ▲ 1.5% |
| Financial debts43 | €23k | €0 | - | - | - | - |
| Credit institutions430/8 | €23k | €0 | - | - | - | - |
| Trade debts44 | €5k | €6k | €7k | €2k | €2k | ▼ 14.9% |
| Suppliers440/4 | €5k | €6k | €7k | €2k | €2k | ▼ 14.9% |
| Taxes, remuneration and social security45 | €44k | €57k | €75k | €60k | €24k | ▼ 59.7% |
| Taxes450/3 | €23k | €33k | €58k | €37k | €11k | ▼ 71.2% |
| Remuneration and social security454/9 | €21k | €25k | €17k | €23k | €13k | ▼ 41.2% |
| Other amounts payable47/48 | €354k | €309k | €451k | €388k | €1.62M | ▲ 319% |
| Accrued charges and deferred income492/3 | €503 | €26 | €181 | €429 | €2k | ▲ 313% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €184k | €227k | €213k | €194k | €377k | ▲ 94.4% |
| + Depreciation and write-downs630 | €17k | €19k | €35k | €36k | €36k | = |
| Operating cash flow (approximation) | €200k | €247k | €248k | €230k | €413k | ▲ 79.4% |
| Investment in fixed assets (approximation) | - | €-89k | €-8k | €0 | €0 | - |
| Change in cash | - | €-131k | €-12k | €25k | €-33k | ▼ 230% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €377k ▲94.4%
Net result €377k, the highest in the series.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 23 days late
2022
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 52 days late
2021
31-12
Financial
Equity above €2MEq €2.18M ▲9.2%
4 profitable years in a row build equity to €2.18M.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 54 days late
2019
31-12
Financial
Weakest financial yearnet €143k ▼24.4%
Net result drops to €143k, the lowest in the series; recovery starts the following year.
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 57 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
20-07
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 5 acts read
About the unread acts
We know of 5 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
5 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, Landen · 1 establishment unit since 1994
Ground area
493 m²
Building footprint
221 m²
Volume, LiDAR
1,752 m³
Parcel 24059B0182/00G000, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Hannuitsesteenweg 78, 3400 Landen
since 19942.065.524.730
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24059B0182/00G000 | Flanders | 493 m² | 1 · 221 m² | 11.5 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 1,321 EUR awarded · 1,321 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 1,321 EUR | 1,321 EUR |
Schemes
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Of 2,770 companies in sector 69109 we hold annual accounts for 1,208. 522 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
Founded13-01-1994
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
69109Other legal services
Scores and ratios are computed by Checked and are not a credit decision.