PHARMA SWITCH
ActiveSummary
The computed 12-month bankruptcy probability of PHARMA SWITCH is 1.7% (moderate). The 2025 annual accounts show equity of €2k and a net result of €1k. Equity is shrinking by ~10.9% per year across the filed fiscal years. Its solvency ranks better than 36% of 18400 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+37
Solvency42▲+13
Growth58=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-05-2026, 64 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
64 d early
2024
63 d early
2023
61 d early
2022
56 d early
2021
61 d early
2020
43 d early
2019
42 d early
← 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
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Financials · fiscal year 2025, micro schema
Equity
€2k▲ 471%
2024 · €288
Total assets
€9k▲ 28.3%
2024 · €7k
Net result
€1k
2024 · €-2k
Working capital
€-79▲ 76.7%
2024 · €-337
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€3k€3k▼ 5.3%€-334€-564▼ 68.8%€3k
Net result€970€1k▲ 4.6%€-1k€-2k▼ 13.7%€1k
Equity€2k▲ 64.5%€3k▲ 41.0%€2k▼ 42.9%€288▼ 85.5%€2k▲ 471%
Total assets€26k▼ 10.3%€20k▼ 24.3%€12k▼ 40.9%€7k▼ 36.7%€9k▲ 28.3%
Debt€24k▼ 14.4%€16k▼ 31.1%€10k▼ 40.5%€7k▼ 26.6%€8k▲ 10.3%
Working capital€-7k▼ 8.9%€-8k▼ 14.5%€-4k▲ 43.4%€-337▲ 92.5%€-79▲ 76.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3k after a loss of €564 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9k
Fixed assets
€2k ▲ 86.3%
Current assets
€8k ▲ 19.9%
Equity and liabilities €9k
Equity
€2k ▲ 471%
Debt
€8k ▲ 10.3%
Debt's share of the balance-sheet total falls from 96.1% to 82.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4k▼
2024 · €5k
Cash flow
€2k▼
2024 · €4k
Current ratio
0.99▲
2024 · 0.95
Debt to equity
4.75
ROE
82.5%
ROA
14.4%▲
2024 · -23.1%
Interest coverage
31.62▼
2024 · 39.88
Debt ≤ 1 year
€8k▲
2024 · €7k
Income taxes
€1k▲
2024 · €1k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €6k | €6k | €1k | ▼ 81.0% |
| Other operating charges640/8 | €348 | €615 | €447 | €387 | €463 | ▲ 19.6% |
| Gross operating margin9900 | €9k | €9k | €6k | €5k | €4k | ▼ 18.0% |
| Operating profit (loss)9901 | €3k | €3k | €-334 | €-564 | €3k | ▲ 612% |
| Financial income75/76B | - | - | €0 | - | €0 | - |
| Recurring financial income75 | - | - | €0 | - | €0 | - |
| Financial charges65/66B | €307 | €290 | €146 | €125 | €125 | ▼ 0.3% |
| Recurring financial charges65 | €307 | €290 | €146 | €125 | €125 | ▼ 0.3% |
| Profit (loss) for the period before taxes9903 | €3k | €3k | €-480 | €-689 | €3k | ▲ 501% |
| Income taxes67/77 | €2k | €2k | €1k | €1k | €1k | ▲ 38.7% |
| Profit (loss) for the period9904 | €970 | €1k | €-1k | €-2k | €1k | ▲ 180% |
| Profit (loss) for the period to be appropriated9905 | €970 | €1k | €-1k | €-2k | €1k | ▲ 180% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26k | €20k | €12k | €7k | €9k | ▲ 28.3% |
| Fixed assets21/28 | €18k | €12k | €6k | €924 | €2k | ▲ 86.3% |
| Tangible fixed assets22/27 | €18k | €12k | €6k | €924 | €2k | ▲ 86.3% |
| Plant, machinery and equipment23 | - | - | - | - | €2k | - |
| Furniture and vehicles24 | €18k | €12k | €6k | €924 | - | - |
| Current assets29/58 | €8k | €8k | €5k | €6k | €8k | ▲ 19.9% |
| Amounts receivable within one year40/41 | €832 | €2k | €693 | €5k | €485 | ▼ 90.4% |
| Trade receivables40 | €185 | €1k | €693 | €5k | €185 | ▼ 96.3% |
| Other amounts receivable41 | €647 | €321 | - | - | €300 | - |
| Cash at bank and in hand54/58 | €7k | €5k | €3k | €176 | €7k | ▲ 3,851% |
| Deferred charges and accrued income490/1 | €1k | €1k | €1k | €1k | €285 | ▼ 77.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26k | €20k | €12k | €7k | €9k | ▲ 28.3% |
| Equity10/15 | €2k | €3k | €2k | €288 | €2k | ▲ 471% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €-4k | €-3k | €-4k | €-6k | €-5k | ▲ 22.9% |
| Amounts payable17/49 | €24k | €16k | €10k | €7k | €8k | ▲ 10.3% |
| Amounts payable after more than one year17 | €8k | €618 | - | - | - | - |
| Financial debts170/4 | €8k | €618 | - | - | - | - |
| Amounts payable within one year42/48 | €15k | €16k | €10k | €7k | €8k | ▲ 15.1% |
| Current portion of amounts payable after more than one year42 | €7k | €7k | €618 | - | - | - |
| Trade debts44 | €1k | €30 | €1k | €883 | €1k | ▲ 26.1% |
| Suppliers440/4 | €1k | €30 | €1k | €883 | €1k | ▲ 26.1% |
| Taxes, remuneration and social security45 | €7k | €6k | €2k | €5k | €4k | ▼ 22.9% |
| Taxes450/3 | €5k | €6k | €2k | €4k | €4k | ▲ 12.5% |
| Remuneration and social security454/9 | €2k | - | - | €2k | - | - |
| Other amounts payable47/48 | €35 | €2k | €6k | €484 | €3k | ▲ 419% |
| Accrued charges and deferred income492/3 | €200 | - | - | €300 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €970 | €1k | €-1k | €-2k | €1k | ▲ 180% |
| + Depreciation and write-downs630 | €6k | €6k | €6k | €6k | €1k | ▼ 81.0% |
| Operating cash flow (approximation) | €7k | €7k | €4k | €4k | €2k | ▼ 37.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-2k | - |
| Change in cash | - | €-2k | €-2k | €-3k | €7k | ▲ 318% |
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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €1k
Net result €1k after 2 loss-making years.
29-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €970
Net result €970 after 2 loss-making years.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Merchtem · 1 establishment unit since 2018
Ground area
364 m²
Building footprint
154 m²
Volume, LiDAR
788 m³
Parcel 23602H0557/00K006, Flanders · tallest building 10.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
PHARMA SWITCH
since 20182.284.902.801
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23602H0557/00K006 | Flanders | 364 m² | 1 · 154 m² | 10.2 m · 1 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.
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Of 5,221 companies in sector 47730 we hold annual accounts for 3,860. 155 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Contact
Phone
0000000000Merchtem
Scores and ratios are computed by Checked and are not a credit decision.