Active BE 0658.939.608Private limited company

PHARMA4L

Sint - Jansdreef 18 ·9900 Eeklo, Belgium· 10 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

PHARMA4L is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.36M and a net result of €243k. Equity is growing by ~21.9% per year across the filed fiscal years. Its solvency ranks better than 61% of 5394 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Key figures

Equity	€1.36M
Net result	€243k
Better than sector	61%
Active	10 yrs

Financial profile 4 of 5 axes measured · computed by Checked

84 / 100

Strong profile, led by stability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 90

Solvency 66

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2016, 10 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview9 NBB filings

Annual accounts filed on 31-08-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~21.9%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	63.5%	51.9%	better than 61% of 5394 sector peers
Net result	€243k	€53k	better than 79% of 5395 sector peers
Equity	€1.36M	€623k	better than 68% of 5395 sector peers
Gross operating margin	€169k	€87k	better than 68% of 5391 sector peers
Total assets	€2.14M	€1.55M	better than 60% of 5395 sector peers

Net profit

€243k

+26.4% 20-25

Total assets

€2.14M

+16.3% 20-25

Equity

€1.36M

+21.8% 20-25

Income taxes

€56k

+38.1% 20-25

Debt

€781k

+7.8% 20-25

Debt ≤ 1y

€562k

+43.2% 20-25

Debt > 1y

€208k

-35.0% 20-25

Solvency

63.5%

+4.8% 20-25

ROE

17.9%

+3.8% 20-25

ROA

11.4%

+8.7% 20-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ	2021 Δ
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	+26.4%	+145.1%	-65.7%	+8.4%	-
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	+38.1%	+31.7%	+29.8%	+1.8%	-
Dividends	-	-	-	-	-
Total assets	+16.3%	+0.7%	-1.5%	-1.6%	-
Equity	+21.8%	+20.9%	+9.3%	+37.2%	-
Debt	+7.8%	-19.9%	-10.5%	-20.4%	-
of which ≤ 1y	+43.2%	-15.7%	+3.3%	-23.3%	-
of which > 1y	-35.0%	-25.7%	-22.2%	-18.0%	-
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	63.5%	60.6%	50.5%	45.5%	32.6%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	11.4%	10.5%	4.3%	12.3%	11.2%
ROE	17.9%	17.3%	8.5%	27.1%	34.3%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €2.00M · 93.4% Current assets €141k · 6.6%

Equity & liabilities

Equity €1.36M · 63.5% Debt €781k · 36.5%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.14M	€1.84M	€1.83M	€1.85M	€1.88M
Fixed assets	21/28	€2.00M	€1.73M	€1.73M	€1.73M	€1.73M
Tangible fixed assets	22/27	€264k	-	-	-	-
Financial fixed assets	28	€1.73M	€1.73M	€1.73M	€1.73M	€1.73M
Current assets	29/58	€141k	€106k	€94k	€121k	€151k
Amounts receivable within one year	40/41	€122k	€67k	€64k	€48k	€23k
Cash & bank	54/58	€19k	€38k	€30k	€73k	€128k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.14M	€1.84M	€1.83M	€1.85M	€1.88M
Equity	10/15	€1.36M	€1.11M	€921k	€843k	€614k
Contributions / capital	10/11	€50k	€50k	€50k	€50k	€50k
Reserves	13	€1.31M	€1.06M	€871k	€793k	€564k
Amounts payable	17/49	€781k	€724k	€904k	€1.01M	€1.27M
Amounts payable after one year	17	€208k	€320k	€431k	€554k	€676k
Amounts payable within one year	42/48	€562k	€392k	€465k	€450k	€587k
Trade debts payable within one year	44	€23k	€20k	€10k	€10k	€9k
Income statement
Gross operating margin	9900	€169k	€122k	€129k	€130k	€130k
Operating result	9901	€166k	€120k	€127k	€128k	€128k
Financial income	75	€153k	€124k	-	€140k	€122k
Financial charges	65	€19k	€22k	€18k	€16k	€15k
Result before taxes	9903	€299k	€233k	€109k	€252k	€234k
Income taxes	67/77	€56k	€41k	€31k	€24k	€23k
Net result for the period	9904	€243k	€192k	€78k	€229k	€211k
Result to be appropriated	9905	€243k	€192k	€78k	€229k	€211k

Directors & mandates 1 directors

Current directors & mandates

BRONDEL Bernard
Non-statutory director
State Gazette act 23478113 (28-12-2023)

Current
28-12-2023 → present

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	12-07-2016
Status	Active
Postal code	9900

Establishment units 1 location

PHARMA4L

Sint - Jansdreef 18, 9900 EekloFinancial service activities, except insurance and pension funding

since 20162.255.461.816

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
43005B0716/00C000	Flanders	583 m²	1 · 260 m²	15.0 m · 3 fl.

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.

Updates 10 events

All 14Financial 4Gazette 1Filings 9

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 31 days late

2025

31-12

Financial Highest result since 2020net €243k ▲26.4%

Operating result €166k, net result €243k, both a record.

31-10

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 92 days late

2024

31-12

Financial Equity above €1MEq €1.11M ▲20.9%

5 profitable years in a row build equity to €1.11M.

30-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 30 days late

2023

31-12

Financial Weakest financial yearnet €78k ▼65.7%

Net result drops to €78k, the lowest in the series; recovery starts the following year.

28-12

State Gazette act Director changes

Frank Desmet

31-08

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 31 days late

2022

22-09

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 53 days late

2021

31-12

Financial Equity above €500kEq €614k ▲52.3%

2 profitable years in a row build equity to €614k.

31-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 31 days late

2020

20-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 81 days late

2019

30-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 30 days late

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 31 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2023

28-12-2023 BRONDEL Bernard appointed as non-statutory director Director changes·Frank Desmet

BRONDEL Bernard, Niet-statutair bestuurder

Notary: Frank Desmet · Eeklo

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies64210

Names & trade names

Legal nameNL

PHARMA4L

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