Checked.be
Active
BE 0894.114.425Public limited company
PHARMADRIES
Elandstraat 58 ·1170 Watermaal-Bosvoorde, Belgium· 18 yrs active
Sector: Retail sale of cosmetics and toilet articles
(47750)
Conclusion
PHARMADRIES has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €263k and a net result of €74k. Equity is shrinking by ~41.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 43% of 6591 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €263k |
| Net result | €74k |
| Staff (FTE) | 2 |
| Better than sector | 43% |
Financial profile
73
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
80
Profitability
100
Solvency
55
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2007, 18 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 Flags
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
80
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€21k
estimate, not credit advice
Score history
93
2021
83
2022
93
2023
80
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.59 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.28 (≥ 1.0)
+5
Profitability
ROE 28% (≥ 10%)
+10
Interest coverage
Interest coverage 14.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-08-2025 with the NBB · fiscal year 2024 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, equity would indicatively turn negative around fiscal year 2026, 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 2024 · NACE 47, Retail trade · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 27.1% | 32.5% | |
| Net result | €74k | €32k | |
| Equity | €263k | €299k | |
| Gross operating margin | €253k | €265k | |
| Staff costs | €114k | €239k |
€133k
-2.9%
21-24
€74k
-7.8%
21-24
€98k
-5.5%
21-24
€968k
+8.9%
21-24
€263k
-48.2%
21-24
€280k
-47.1%
21-24
2
0.0%
21-24
€114k
+3.5%
21-24
€26k
-7.0%
21-24
€318k
-42.2%
21-24
€705k
+84.6%
21-24
€473k
+259.5%
21-24
€232k
-7.4%
21-24
1.59
-68.3%
21-24
1.28
-65.9%
21-24
27.1%
-52.4%
21-24
2.69
+256.3%
21-24
28.1%
+78.1%
21-24
7.6%
-15.3%
21-24
14.23
-33.3%
21-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €133k | €137k | €172k | €247k |
| Net profit | €74k | €80k | €105k | €159k |
| Cash flow | €98k | €104k | €128k | €184k |
| Staff costs | €114k | €110k | €102k | €113k |
| Income taxes | €26k | €28k | €35k | €49k |
| Dividends | €318k | - | €550k | - |
| Total assets | €968k | €889k | €875k | €1.00M |
| Equity | €263k | €507k | €427k | €872k |
| Debt | €705k | €382k | €449k | €129k |
| of which ≤ 1y | €473k | €132k | €179k | €128k |
| of which > 1y | €232k | €250k | €269k | - |
| Working capital | €280k | €529k | €448k | €613k |
| Employees (FTE) | 2.0 | 2.0 | 1.9 | 1.8 |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 1.59 | 5.02 | 3.49 | 5.77 |
| Quick ratio | 1.28 | 3.76 | 2.67 | 4.78 |
| Working capital ratio | 29.0% | 59.6% | 51.1% | 61.3% |
| Solvency | 27.1% | 57.0% | 48.8% | 87.1% |
| Debt / equity | 2.69 | 0.75 | 1.05 | 0.15 |
| Long-term debt ratio | 0.88 | 0.49 | 0.63 | - |
| Interest coverage | 14.23 | 21.35 | 19.78 | 15.86 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 7.6% | 9.0% | 12.0% | 15.8% |
| ROE | 28.1% | 15.8% | 24.6% | 18.2% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €968k | €889k | €875k | €1.00M |
| Fixed assets | 21/28 | €215k | €228k | €248k | €259k |
| Tangible fixed assets | 22/27 | €215k | €228k | €248k | €259k |
| Current assets | 29/58 | €753k | €661k | €627k | €742k |
| Stocks & contracts in progress | 3 | €148k | €167k | €148k | €128k |
| Amounts receivable within one year | 40/41 | €414k | €313k | €387k | €87k |
| Investments | 50/53 | €2k | €2k | €2k | €18k |
| Cash & bank | 54/58 | €189k | €179k | €90k | €507k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €968k | €889k | €875k | €1.00M |
| Equity | 10/15 | €263k | €507k | €427k | €872k |
| Contributions / capital | 10/11 | €120k | €120k | €120k | €120k |
| Reserves | 13 | €127k | €127k | €127k | €127k |
| Accumulated profits (losses) | 14 | €16k | €260k | €180k | €625k |
| Amounts payable | 17/49 | €705k | €382k | €449k | €129k |
| Amounts payable after one year | 17 | €232k | €250k | €269k | - |
| Amounts payable within one year | 42/48 | €473k | €132k | €179k | €128k |
| Trade debts payable within one year | 44 | €116k | €93k | €89k | €44k |
| Income statement | |||||
| Gross operating margin | 9900 | €253k | €248k | €275k | €364k |
| Operating result | 9901 | €109k | €113k | €149k | €221k |
| Financial income | 75 | €146 | €883 | - | €2k |
| Financial charges | 65 | €9k | €6k | €9k | €16k |
| Result before taxes | 9903 | €100k | €108k | €140k | €208k |
| Income taxes | 67/77 | €26k | €28k | €35k | €49k |
| Net result for the period | 9904 | €74k | €80k | €105k | €159k |
| Result to be appropriated | 9905 | €74k | €80k | €105k | €159k |
Legal Structure
| NACE primary | Retail sale of cosmetics and toilet articles(47750) |
| Legal form | Public limited company(014) |
| Incorporation | 12-12-2007 |
| Status | Active |
| Postal code | 1170 |
Establishment units
Elandstraat 58, 1170 Watermaal-Bosvoorde
since 20082.169.021.651
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21017D0092/00S000 | Brussels | 216 m² | 1 · 140 m² | 12.9 m · 4 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
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €74k ▼7.8%
Net result drops to €74k, the lowest in the series.
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €500kEq €507k ▲18.7%
3 profitable years in a row build equity to €507k.
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Retail sale of pharmaceutical products47730Retail sale of cosmetics and toilet articles47750Manufacture of basic pharmaceutical products and pharmaceutical preparations21100Agents in the wholesale of furniture, household goods and hardware46150Wholesale of pharmaceutical and medical goods46460Retail trade47740Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses47741
Names & trade names
| Legal nameFR | PHARMADRIES |
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