Pharma2Care
ActivePharma2Care has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.04M and a net result of €-93k. Equity is growing by ~14.7% per year across the filed fiscal years. Its solvency ranks better than 65% of 9623 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
54
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability13▼-51
Solvency77▼-17
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.96 against 3.74 in 2023; short-term debt: 48.2% and cash: 0.1% of total assets), and 48.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
51.7%
Return on assets
-4.6%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-93k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
on the day
2022
20 d early
2021
37 d early
2020
1 d early
2019
11 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€1.04M▼ 8.2%
2023 · €1.13M
2018: €212k
2019: €266k
2020: €889k
2021: €1.14M
2022: €1.19M
2023: €1.13M
2018 → 2024
Total assets
€2.01M▲ 23.0%
2023 · €1.64M
2018: €1.18M
2019: €1.34M
2020: €1.66M
2021: €2.56M
2022: €2.59M
2023: €1.64M
2018 → 2024
Net result
€-93k▼ 51.0%
2023 · €-61k
2018: €8k
2019: €54k
2020: €624k
2021: €246k
2022: €59k
2023: €-61k
2018 → 2024
Working capital
€935k▼ 14.1%
2023 · €1.09M
2018: €-204k
2019: €-133k
2020: €610k
2021: €746k
2022: €773k
2023: €1.09M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€889k-€1.14M▲ 27.7%€1.19M▲ 5.2%€1.13M▼ 5.1%€1.04M▼ 8.2%
Operating result€639k-€261k▼ 59.1%€68k▼ 73.9%€-46k€-62k▼ 35.6%
Net result€624k-€246k▼ 60.5%€59k▼ 76.2%€-61k€-93k▼ 51.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €62k in 2024 against €46k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.01M
Fixed assets
€108k▼ 27.7%
Current assets
€1.90M▲ 28.1%
Equity and liabilities €2.01M
Equity
€1.04M▼ 8.2%
Debt
€972k▲ 93.2%
The debt ratio rises from 30.7% to 48.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-14k▼
2023 · €104k
Cash flow
€-45k▼
2023 · €88k
Solvency
51.7%▼
2023 · 69.3%
Current ratio
1.96▼
2023 · 3.74
Quick ratio
1.96▼
2023 · 3.74
Debt / equity
0.93▲
2023 · 0.44
ROE
-8.9%▼
2023 · -5.4%
ROA
-4.6%▼
2023 · -3.7%
Interest coverage
-0.47▼
2023 · 6.66
Debt
€972k▲
2023 · €503k
Debt ≤ 1 year
€969k▲
2023 · €398k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.64M€2.01M▲
Fixed assets21/28€149k€108k▼
Intangible fixed assets21€0-
Tangible fixed assets22/27€143k€101k▼
Land and buildings22€139k€99k▼
Plant, machinery and equipment23€3k€3k▼
Financial fixed assets28€6k€6k=
Current assets29/58€1.49M€1.90M▲
Amounts receivable within one year40/41€1.48M€1.90M▲
Trade receivables40€61k€23k▼
Other amounts receivable41€1.41M€1.88M▲
Cash at bank and in hand54/58€12k€1k▼
Equity and liabilities
Total equity and liabilities10/49€1.64M€2.01M▲
Equity10/15€1.13M€1.04M▼
Contributions10/11€1.30M€1.30M=
Capital10€1.30M€1.30M=
Issued capital100€1.30M€1.30M=
Reserves13€29k€29k=
Non-distributable reserves130/1€14k€14k=
Legal reserve130€14k€14k=
Tax-exempt reserves132€15k€15k=
Profit (loss) carried forward14€-195k€-287k▼
Amounts payable17/49€503k€972k▲
Amounts payable after more than one year17€98k-
Financial debts170/4€98k-
Amounts payable within one year42/48€398k€969k▲
Current portion of amounts payable after more than one year42€53k-
Financial debts43€285k€749k▲
Credit institutions430/8€285k€749k▲
Trade debts44€60k€40k▼
Suppliers440/4€60k€40k▼
Other amounts payable47/48€167€180k▲
Accrued charges and deferred income492/3€7k€2k▼
Income statement
Code20232024
Non-recurring operating income76A€160k-
Remuneration, social security and pensions62€40k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€150k€48k▼
Other operating charges640/8€7k€5k▼
Non-recurring operating charges66A€10k-
Gross operating margin9900€161k€-10k▼
Operating profit (loss)9901€-46k€-62k▼
Financial charges65/66B€16k€31k▲
Recurring financial charges65€16k€31k▲
Profit (loss) for the period before taxes9903€-61k€-93k▼
Profit (loss) for the period9904€-61k€-93k▼
Profit (loss) for the period to be appropriated9905€-61k€-93k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-195k€-287k▼
Profit (loss) brought forward from the previous period14P€-133k€-195k▼
Social balance
Average headcount (FTE)90873.1-
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-93k
Net result drops to €-93k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity doublescurrent ratio 3.74
Current ratio from 1.62 to 3.74; short-term debt falls from €1.24M to €398k.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1MEq €1.14M ▲27.7%
4 profitable years in a row build equity to €1.14M.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €624k ▲1061%
Operating result €639k, net result €624k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.81
Current ratio from 0.87 to 1.81; short-term debt falls from €1.05M to €756k.
31-12
Financial
Equity above €500kEq €889k ▲235%
3 profitable years in a row build equity to €889k.
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 70 days late
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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, Zuienkerke · 1 establishment unit since 1985
Ground area
3,452 m²
Building footprint
1,135 m²
Parcel 31042D0058/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
Pharma2Care
since 19852.030.254.837
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31042D0058/00H000 | Flanders | 3,452 m² | 1 · 1,135 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteZuienkerke2.030.254.837
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Of 5,222 companies in sector 47730 we hold annual accounts for 3,861. 2,982 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-05-1985
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
52310
46460Wholesale of pharmaceutical and medical goods
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.