PHARMALEC
ActiveSummary
PHARMALEC has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €513k and a net result of €93k. Equity is growing by ~38.4% per year across the filed fiscal years. Its solvency ranks better than 49% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+8
Solvency53▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity short (current ratio 0.26 against 0.33 in 2024; short-term debt: 18.9% and cash: 0.1% of total assets), and 71.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.4%
Return on assets
5.1%
Age of the figures
9 mo
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 30-07-2026, 1 day ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
1 d early
2024
28 d late
2023
37 d early
2022
31 d late
2021
26 d late
2020
17 d early
2019
7 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€513k▲ 22.1%
2024 · €420k
2018: €12klowest in 8 years
2019: €53k▲ +334% vs 2018
2020: €83k▲ +57.5% vs 2019
2021: €156k▲ +88.1% vs 2020
2022: €225k▲ +44.9% vs 2021
2023: €341k▲ +51.3% vs 2022
2024: €420k▲ +23.2% vs 2023
2025: €513k▲ +22.1% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.81M▼ 1.4%
2024 · €1.83M
2018: €339klowest in 8 years
2019: €362k▲ +6.8% vs 2018
2020: €383k▲ +5.6% vs 2019
2021: €1.21M▲ +216% vs 2020
2022: €1.20M▼ -0.7% vs 2021
2023: €1.25M▲ +4.2% vs 2022
2024: €1.83M▲ +46.1% vs 2023highest in 8 years
2025: €1.81M▼ -1.4% vs 2024
2018 → 2025
Net result
€93k▲ 17.2%
2024 · €79k
2018: €6klowest in 8 years
2019: €40k▲ +585% vs 2018
2020: €30k▼ -25.3% vs 2019
2021: €73k▲ +141% vs 2020
2022: €70k▼ -4.1% vs 2021
2023: €116k▲ +65.4% vs 2022highest in 8 years
2024: €79k▼ -31.4% vs 2023
2025: €93k▲ +17.2% vs 2024
2018 → 2025
Working capital
€-254k▼ 9.1%
2024 · €-233k
2018: €-26k
2019: €2k▲ +107% vs 2018
2020: €20k▲ +1048% vs 2019highest in 8 years
2021: €-117k▼ -694% vs 2020
2022: €-124k▼ -5.9% vs 2021
2023: €-86k▲ +30.7% vs 2022
2024: €-233k▼ -171% vs 2023
2025: €-254k▼ -9.1% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€156k-€225k▲ 44.9%€341k▲ 51.3%€420k▲ 23.2%€513k▲ 22.1%
2021: €156klowest in 5 years
2022: €225k▲ +44.9% vs 2021
2023: €341k▲ +51.3% vs 2022
2024: €420k▲ +23.2% vs 2023
2025: €513k▲ +22.1% vs 2024highest in 5 years
Operating result€118k-€114k▼ 3.1%€177k▲ 54.5%€135k▼ 23.4%€152k▲ 12.3%
2021: €118k
2022: €114k▼ -3.1% vs 2021lowest in 5 years
2023: €177k▲ +54.5% vs 2022highest in 5 years
2024: €135k▼ -23.4% vs 2023
2025: €152k▲ +12.3% vs 2024
Net result€73k-€70k▼ 4.1%€116k▲ 65.4%€79k▼ 31.4%€93k▲ 17.2%
2021: €73k
2022: €70k▼ -4.1% vs 2021lowest in 5 years
2023: €116k▲ +65.4% vs 2022highest in 5 years
2024: €79k▼ -31.4% vs 2023
2025: €93k▲ +17.2% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.81M
Fixed assets
€1.72M ▲ 0.2%
Current assets
€88k ▼ 24.8%
Equity and liabilities €1.81M
Equity
€513k ▲ 22.1%
Debt
€1.29M ▼ 8.4%
Debt's share of the balance-sheet total falls from 77.1% to 71.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€156k▲
2024 · €138k
Cash flow
€97k▲
2024 · €82k
Current ratio
0.26▼
2024 · 0.33
Debt to equity
2.52▼
2024 · 3.36
ROE
18.1%▼
2024 · 18.9%
ROA
5.1%▲
2024 · 4.3%
Interest coverage
5.66▲
2024 · 4.74
Debt ≤ 1 year
€342k▼
2024 · €350k
Debt > 1 year
€951k▼
2024 · €1.06M
Income taxes
€32k▲
2024 · €27k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.83M€1.81M▼
Fixed assets21/28€1.71M€1.72M▲
Tangible fixed assets22/27€111k€115k▲
Land and buildings22€111k€108k▼
Furniture and vehicles24-€7k
Financial fixed assets28€1.60M€1.60M=
Current assets29/58€117k€88k▼
Amounts receivable within one year40/41€101k€87k▼
Trade receivables40€41k€58k▲
Other amounts receivable41€60k€29k▼
Cash at bank and in hand54/58€16k€1k▼
Equity and liabilities
Total equity and liabilities10/49€1.83M€1.81M▼
Equity10/15€420k€513k▲
Contributions10/11€6k€6k=
Reserves13€414k€507k▲
Distributable reserves133€414k€507k▲
Amounts payable17/49€1.41M€1.29M▼
Amounts payable after more than one year17€1.06M€951k▼
Financial debts170/4€1.06M€951k▼
Amounts payable within one year42/48€350k€342k▼
Current portion of amounts payable after more than one year42€109k€110k▲
Trade debts44€65k€4k▼
Suppliers440/4€65k€4k▼
Advances received on contracts in progress46€5k€0▼
Taxes, remuneration and social security45€14k€22k▲
Taxes450/3€14k€22k▲
Other amounts payable47/48€157k€206k▲
Accrued charges and deferred income492/3-€200
Income statement
Code20242025
Non-recurring operating income76A€81k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€4k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€142k€157k▲
Operating profit (loss)9901€135k€152k▲
Financial income75/76B-€1
Recurring financial income75-€1
Non-recurring financial income76B-€1
Financial charges65/66B€29k€28k▼
Recurring financial charges65€29k€28k▼
Non-recurring financial charges66B€228€0▼
Profit (loss) for the period before taxes9903€106k€124k▲
Income taxes67/77€27k€32k▲
Profit (loss) for the period9904€79k€93k▲
Profit (loss) for the period to be appropriated9905€79k€93k▲
Appropriation of the result
Profit (loss) to be appropriated9906€79k€93k▲
Transfer to equity691/2€79k€93k▲
To other reserves6921€79k€93k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €81k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €9k | €8k | €3k | €4k | ▲ 18.6% |
| Other operating charges640/8 | €2k | €999 | €1k | €3k | €2k | ▼ 55.0% |
| Gross operating margin9900 | €128k | €124k | €186k | €142k | €157k | ▲ 10.8% |
| Operating profit (loss)9901 | €118k | €114k | €177k | €135k | €152k | ▲ 12.3% |
| Financial income75/76B | - | - | - | - | €1 | - |
| Recurring financial income75 | - | - | - | - | €1 | - |
| Non-recurring financial income76B | - | - | - | - | €1 | - |
| Financial charges65/66B | €17k | €12k | €7k | €29k | €28k | ▼ 6.6% |
| Recurring financial charges65 | €17k | €12k | €7k | €29k | €28k | ▼ 5.8% |
| Non-recurring financial charges66B | - | €89 | - | €228 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €101k | €102k | €170k | €106k | €124k | ▲ 17.6% |
| Income taxes67/77 | €28k | €33k | €54k | €27k | €32k | ▲ 18.7% |
| Profit (loss) for the period9904 | €73k | €70k | €116k | €79k | €93k | ▲ 17.2% |
| Profit (loss) for the period to be appropriated9905 | €73k | €70k | €116k | €79k | €93k | ▲ 17.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.21M | €1.20M | €1.25M | €1.83M | €1.81M | ▼ 1.4% |
| Fixed assets21/28 | €1.14M | €1.13M | €1.12M | €1.71M | €1.72M | ▲ 0.2% |
| Tangible fixed assets22/27 | €303k | €294k | €286k | €111k | €115k | ▲ 3.6% |
| Land and buildings22 | €303k | €294k | €286k | €111k | €108k | ▼ 2.9% |
| Plant, machinery and equipment23 | €460 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €7k | - |
| Financial fixed assets28 | €832k | €832k | €832k | €1.60M | €1.60M | = |
| Current assets29/58 | €76k | €76k | €135k | €117k | €88k | ▼ 24.8% |
| Amounts receivable within one year40/41 | €72k | €60k | €122k | €101k | €87k | ▼ 14.1% |
| Trade receivables40 | €33k | €23k | €91k | €41k | €58k | ▲ 42.2% |
| Other amounts receivable41 | €39k | €37k | €32k | €60k | €29k | ▼ 52.1% |
| Cash at bank and in hand54/58 | €4k | €16k | €12k | €16k | €1k | ▼ 91.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.21M | €1.20M | €1.25M | €1.83M | €1.81M | ▼ 1.4% |
| Equity10/15 | €156k | €225k | €341k | €420k | €513k | ▲ 22.1% |
| Contributions10/11 | €8k | €8k | €6k | €6k | €6k | = |
| Reserves13 | €147k | €217k | €335k | €414k | €507k | ▲ 22.4% |
| Distributable reserves133 | €147k | €217k | €335k | €414k | €507k | ▲ 22.4% |
| Amounts payable17/49 | €1.06M | €977k | €912k | €1.41M | €1.29M | ▼ 8.4% |
| Amounts payable after more than one year17 | €863k | €777k | €692k | €1.06M | €951k | ▼ 10.4% |
| Financial debts170/4 | €863k | €777k | €692k | €1.06M | €951k | ▼ 10.4% |
| Amounts payable within one year42/48 | €193k | €200k | €221k | €350k | €342k | ▼ 2.3% |
| Current portion of amounts payable after more than one year42 | €85k | €85k | €86k | €109k | €110k | ▲ 1.0% |
| Financial debts43 | €8k | - | - | - | - | - |
| Credit institutions430/8 | €8k | - | - | - | - | - |
| Trade debts44 | €61 | €55 | - | €65k | €4k | ▼ 94.2% |
| Suppliers440/4 | €61 | €55 | - | €65k | €4k | ▼ 94.2% |
| Advances received on contracts in progress46 | - | - | - | €5k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €12k | €9k | €34k | €14k | €22k | ▲ 50.8% |
| Taxes450/3 | €12k | €9k | €34k | €14k | €22k | ▲ 50.8% |
| Other amounts payable47/48 | €87k | €105k | €101k | €157k | €206k | ▲ 31.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €200 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73k | €70k | €116k | €79k | €93k | ▲ 17.2% |
| + Depreciation and write-downs630 | €9k | €9k | €8k | €3k | €4k | ▲ 18.6% |
| Operating cash flow (approximation) | €81k | €78k | €124k | €82k | €97k | ▲ 17.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-599k | €-8k | ▲ 98.7% |
| Change in cash | - | €12k | €-3k | €4k | €-15k | ▼ 486% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €500kEq €513k ▲22.1%
8 profitable years in a row build equity to €513k.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €116k ▲65.4%
Operating result €177k, net result €116k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Equity above €200kEq €225k ▲44.9%
5 profitable years in a row build equity to €225k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Equity above €150kEq €156k ▲88.1%
4 profitable years in a row build equity to €156k.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 1.04
Current ratio from 0.26 to 1.04.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
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, Zaventem · 1 establishment unit since 2017
Ground area
1.1 ha
Building footprint
243 m²
Volume, LiDAR
9,716 m³
Parcel 23078C0188/00F000, Flanders · tallest building 45.1 m, ±14 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Pharmalec BVBA
since 20172.285.728.586
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23078C0188/00F000 | Flanders | 1.1 ha | 1 · 243 m² | 45.1 m · 14 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 9,136 companies in sector 68201 we hold annual accounts for 6,765. 5,028 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
Founded28-07-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
47730Retail sale of pharmaceutical products
Scores and ratios are computed by Checked and are not a credit decision.