Equity
€11,549 from €218,908 in 2009
Equity fell by 95% in 16 years.
PHARMACIE DES PAGODES
Lifetime
20 annual accounts with figures on one time axispeak €404,238 (2018)
€152,066▼ 4.4%
lowest -€66,161 (2019)
€2,425▲ €46,645
peak €218,908 (2009)
€11,549▲ 26.6%
€371,515▲ 10.1%
peak 5 FTE (2010)
1.6 FTE▼ 33.3%
Board7 names since 2022
4 directorsBLUESTONE and 3 others
Owners
100%Europhar
Documentsfilings and deeds
31-08-202631 days late
2025financial year
Back to profit: €2,425Staff from 2.4 FTE to 1.6 FTEEquity from €9,124 to €11,549Cash from €10,067 to €55,464
Key points
from the 2025 annual accountsDebts
€371,515 97% of the balance sheet
Suppliers 84%Taxes and wages 11%Other 5%
Of this, €370,680 falls due within a year.
Staff
1.6 FTE from 5 in 2010
Between 2010 and 2025, 68% of the full-time equivalents disappeared.
Filings
20 annual accounts since 2006
Ten of the last ten came late. The 2019 accounts came latest: 245 days after the end of the period.
Board
1 joined · 1 left
Board changed. Latest change 01-09-2026 · 4 in office.
Position in the sector
€11,549
Less equity than 88% of companies in pharmaceuticals. Sector median €4.9m · 95 companies.
Checked score
68
Healthy
Financially stronger than 45% of micro companies in pharmaceuticals (NACE 21)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 152 companies (NACE 21, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 4.2%
01-2025: 5.2%▲ +1.0 percentage point vs 12-2024highest value
02-2025: 5.2%● unchanged vs 01-2025highest value
03-2025: 5.1%▼ -0.1 percentage points vs 02-2025
04-2025: 5.1%● unchanged vs 03-2025
05-2025: 5.0%▼ -0.1 percentage points vs 04-2025
06-2025: 2.8%▼ -2.2 percentage points vs 05-2025
07-2025: 3.0%▲ +0.2 percentage points vs 06-2025
08-2025: 3.2%▲ +0.2 percentage points vs 07-2025
09-2025: 3.3%▲ +0.1 percentage points vs 08-2025
10-2025: 2.5%▼ -0.8 percentage points vs 09-2025
11-2025: 2.5%● unchanged vs 10-2025
12-2025: 2.5%● unchanged vs 11-2025
01-2026: 2.5%● unchanged vs 12-2025
02-2026: 2.5%● unchanged vs 01-2026
03-2026: 2.5%● unchanged vs 02-2026
04-2026: 2.5%● unchanged vs 03-2026
05-2026: 2.5%● unchanged vs 04-2026
06-2026: 2.3%▼ -0.2 percentage points vs 05-2026
07-2026: 2.4%▲ +0.1 percentage points vs 06-2026
08-2026: 2.6%▲ +0.2 percentage points vs 07-2026
09-2026: 0.8%▼ -1.8 percentage points vs 08-2026lowest value
10-2026: 0.8%● unchanged vs 09-2026lowest value
11-2026: 0.8%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 31 days late; 2 of the last 3 accounts late
Equity €11,549 (3.0% of total assets)
lowers risk
Founded in 2005
Legal form: public limited company
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 21, micro). It does better than 30% of them on solvency, 16% on liquidity, 56% on profitability and 78% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,083 companies had the same profile as PHARMACIE DES PAGODES has now. Each dot stands for 3 companies, two years later.
96.8%
were still trading
2.2%
stopped another way
0.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHARMACIE DES PAGODES itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,083 companies, not a prediction for PHARMACIE DES PAGODES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.92 (0.84 in 2024), below 1. Short-term debt is 96.8% and cash 14.5% of total assets. 97% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 95 sector peers (2025).
NBB · sector comparisonPosition among 95 sector peers
Solvency
better than 14%
← weakest
strongest →
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
29 days late
2023
138 days late
2022
100 days late
2021
211 days late
2020
80 days late
2019
245 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 119 days after the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 8 November (4 of the last 5 accounts filed within 71 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0875872386
Purpose change · Amendment of the articles
“L'exploitation d'officines pharmaceutiques dans le respect des règles édictées par l'Ordre des Pharmaciens,et…” (deed in French) · General meeting of 28-12-2023 · Gazette deed
Registered office moved from Brussels to Genappe
New registered office: Rue des Lilas 1, 1470 Genappe · Previous registered office: Avenue des Pagodes 153, 1020 Bruxelles · Resignations: EUROPHAR (director) and Valérie WERA (director) · General meeting of 28-04-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PHARMACIE DES PAGODES Genappe | €0.4m | €0.2m | 3.0% | 1.6 |
| SOBEGAPHARMA Mons | €1.0m | €0.2m | 18.1% | 0.8 |
| Pharmacie BIHAIN Trois-Ponts | €0.6m | €0.2m | 15.5% | 0.7 |
| D2S Pharma Oudenaarde | €0.6m | €0.1m | 72.9% | 0.5 |
| PHARMACIE DE GIVRY Quévy | €1.3m | €0.5m | 37.4% | 4.4 |
| bioprojet benelux Molenbeek-Saint-Jean | €0.7m | €1.3m | 51.4% | 5.8 |
| PHARMA MAR Brussels | €0.5m | €0.7m | 45.4% | 3.9 |
These companies have the same main activity as PHARMACIE DES PAGODES: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21100). They are comparable in size and age: total assets between €493,000 and €1.3m, founded between 2007 and 2015.
Official details
Source: KBO- Status
- Active since 05-09-2005Normal situation
- Activity
- Manufacture of basic pharmaceutical products and pharmaceutical preparationsNACE 21100and 5 others
- Establishment unit
- 2.149.450.8131020 Brussels, since 14-10-2005
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Annual accounts 2025
- ≈ €390,000estimated
- €383,064▲ 10.6%
- Employeeson 31-12-2025
- 2▼ 33.3%
- Filing
- Filed on 31-08-2026
Companies linked to PHARMACIE DES PAGODES
Parent and group
Insights on PHARMACIE DES PAGODES
PHARMACIE DES PAGODES has existed since 2005. The gross margin fell from €404,238 in 2018 to €135,303 in 2019.
Europhar holds all the shares. In May 2023, the Official Gazette published the appointment of BLUESTONE as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PHARMACIE DES PAGODES
- What is the company number of PHARMACIE DES PAGODES?
- The company number of PHARMACIE DES PAGODES is 0875.872.386. The VAT number is the same number with BE in front: BE 0875.872.386.
- Where is PHARMACIE DES PAGODES based?
- The registered office is at Rue des Lilas 1, 1470 Genappe.Company details
- What does PHARMACIE DES PAGODES do?
- According to the KBO register, the main activity is manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21100).
- What is the legal form of PHARMACIE DES PAGODES?
- PHARMACIE DES PAGODES is a public limited company (NV).
- When was PHARMACIE DES PAGODES founded?
- PHARMACIE DES PAGODES was founded on 05-09-2005.
- Is PHARMACIE DES PAGODES still active?
- Yes, PHARMACIE DES PAGODES is an active enterprise in the KBO register.
- How many employees does PHARMACIE DES PAGODES have?
- PHARMACIE DES PAGODES had an average of 1.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of PHARMACIE DES PAGODES?
- The turnover in financial year 2025 is ≈ €390,000. This figure is estimated from the gross margin of €152,066 and 1,647 comparable companies of the same size. It probably lies between €240,000 and €720,000. It is a rough estimate. In financial year 2019 turnover was €886,566.
- Is PHARMACIE DES PAGODES profitable?
- In financial year 2025, PHARMACIE DES PAGODES made a profit of €2,425.
- Where can I find the annual accounts of PHARMACIE DES PAGODES?
- PHARMACIE DES PAGODES filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PHARMACIE DES PAGODES due?
- PHARMACIE DES PAGODES must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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