PHARMAMED
ActiveSummary
PHARMAMED has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €439,425 and a net result of €186,710. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 33% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+4
Solvency55=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.31 against 1.29 in 2024; short-term debt: 68.7% and cash: 28.4% of total assets), and 69.6% of the assets are financed with debt.
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Signals
Six 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
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
30.4%
Return on assets
12.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
56 d early
2024
15 d early
2023
23 d late
2022
25 d late
2020
19 d late
2019
28 d late
2018
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 19 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€186,710▲ 46.5%
2024 · €127,432
Working capital
€306,755▲ 18.4%
2024 · €259,122
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Operating result€1.2m▲ 876%€192,551-€39,004▼ 79.7%€114,954▲ 195%€201,589▲ 75.4%
Net result€1.1mabove the sector's middle half▲ 1,193%€141,056within the sector's middle half-€35,614within the sector's middle half▼ 74.8%€127,432within the sector's middle half▲ 258%€186,710within the sector's middle half▲ 46.5%
Equity€328,614within the sector's middle half▲ 9.2%€369,670within the sector's middle half-€375,284within the sector's middle half▲ 1.5%€402,716within the sector's middle half▲ 7.3%€439,425within the sector's middle half▲ 9.1%
Total assets€1.8mwithin the sector's middle half▲ 108%€971,448within the sector's middle half-€1.1mwithin the sector's middle half▲ 15.7%€1.3mwithin the sector's middle half▲ 18.0%€1.4mwithin the sector's middle half▲ 9.1%
Debt€1.5m▲ 161%€601,778-€748,966▲ 24.5%€923,438▲ 23.3%€1.0m▲ 9.1%
Working capital€317,089within the sector's middle half▲ 11.2%€321,861within the sector's middle half-€188,447within the sector's middle half▼ 41.5%€259,122within the sector's middle half▲ 37.5%€306,755within the sector's middle half▲ 18.4%
Solvency18.3%below the sector's middle half▼ 16.6pp38.1%within the sector's middle half-33.4%within the sector's middle half▼ 4.7pp30.4%within the sector's middle half▼ 3.0pp30.4%within the sector's middle half=
Current ratio1.22within the sector's middle half▼ 0.301.56within the sector's middle half-1.27within the sector's middle half▼ 0.291.29within the sector's middle half▲ 0.021.31within the sector's middle half▲ 0.02
Return on assets (ROA)63.3%above the sector's middle half▲ 53.1pp14.5%above the sector's middle half-3.2%within the sector's middle half▼ 11.4pp9.6%above the sector's middle half▲ 6.4pp12.9%above the sector's middle half▲ 3.3pp
Staff (FTE)4within the sector's middle half▲ 5.3%4within the sector's middle half-4.1within the sector's middle half▲ 2.5%4.4within the sector's middle half▲ 7.3%6.2within the sector's middle half▲ 40.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Net result -75% on 2022. This fiscal year ran 15 months, the previous one 21.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 75% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€145,539 ▼ 15.7%
Current assets
€1.3m ▲ 12.8%
Equity and liabilities €1.4m
Equity
€439,425 ▲ 9.1%
Debt
€1.0m ▲ 9.1%
Debt's share of the balance-sheet total stays at 69.6%.
Key figures and ratios
EBITDA
€263,906▲
2024 · €165,574
Cash flow
€249,027▲
2024 · €178,052
Quick ratio
0.90▲
2024 · 0.86
Debt to equity
2.29=
2024 · 2.29
ROE
42.5%▲
2024 · 31.6%
Interest coverage
46.51▲
2024 · 17.23
Debt ≤ 1 year
€994,377▲
2024 · €894,369
Debt > 1 year
€12,869▼
2024 · €29,070
Income taxes
€17,754▲
2024 · €7,813
Staff costs
€258,949▲
2024 · €203,985
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,349 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,500 | €13,002 | €239 | - | - |
| Remuneration, social security and pensions62 | - | €303,641 | €232,457 | €203,985 | €258,949 | ▲ 26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,790 | €28,692 | €36,985 | €50,620 | €62,317 | ▲ 23.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €19,005 | €12,372 | €7,864 | €1,234 | ▼ 84.3% |
| Other operating charges640/8 | - | €12,205 | €13,070 | €31,275 | €7,914 | ▼ 74.7% |
| Non-recurring operating charges66A | - | €0 | - | €80 | - | - |
| Gross operating margin9900 | €1.4m | €556,093 | €333,888 | €408,778 | €532,003 | ▲ 30.1% |
| Operating profit (loss)9901 | €1.2m | €192,551 | €39,004 | €114,954 | €201,589 | ▲ 75.4% |
| Financial income75/76B | - | €8,141 | €19,982 | €29,902 | €8,549 | ▼ 71.4% |
| Recurring financial income75 | €1,733 | €8,141 | €19,982 | €29,902 | €8,549 | ▼ 71.4% |
| Financial charges65/66B | - | €31,875 | €15,046 | €9,611 | €5,674 | ▼ 41.0% |
| Recurring financial charges65 | €25,325 | €31,875 | €15,046 | €9,611 | €5,674 | ▼ 41.0% |
| Profit (loss) for the period before taxes9903 | €1.1m | €168,816 | €43,940 | €135,245 | €204,464 | ▲ 51.2% |
| Income taxes67/77 | €13,301 | €27,760 | €8,326 | €7,813 | €17,754 | ▲ 127% |
| Profit (loss) for the period9904 | €1.1m | €141,056 | €35,614 | €127,432 | €186,710 | ▲ 46.5% |
| Transfer from tax-exempt reserves789 | - | €19,011 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €160,066 | €35,614 | €127,432 | €186,710 | ▲ 46.5% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €971,448 | €1.1m | €1.3m | €1.4m | ▲ 9.1% |
| Fixed assets21/28 | €11,524 | €71,751 | €236,906 | €172,663 | €145,539 | ▼ 15.7% |
| Intangible fixed assets21 | €5,157 | €0 | - | €29,711 | €30,239 | ▲ 1.8% |
| Tangible fixed assets22/27 | €3,798 | €64,081 | €227,446 | €137,592 | €109,940 | ▼ 20.1% |
| Plant, machinery and equipment23 | - | €488 | €0 | €1,961 | €1,252 | ▼ 36.1% |
| Furniture and vehicles24 | - | €63,593 | €179,096 | €131,619 | €105,125 | ▼ 20.1% |
| Other tangible fixed assets26 | - | - | €48,351 | €4,012 | €3,563 | ▼ 11.2% |
| Financial fixed assets28 | €2,570 | €7,670 | €9,460 | €5,360 | €5,360 | = |
| Current assets29/58 | €1.8m | €899,697 | €887,343 | €1.2m | €1.3m | ▲ 12.8% |
| Stocks and contracts in progress3 | €211,160 | €198,000 | €299,616 | €380,000 | €401,253 | ▲ 5.6% |
| Stocks30/36 | - | €198,000 | €299,616 | €380,000 | €401,253 | ▲ 5.6% |
| Amounts receivable within one year40/41 | €837,995 | €346,779 | €332,567 | €514,902 | €481,162 | ▼ 6.6% |
| Trade receivables40 | - | €342,017 | €328,092 | €475,521 | €462,972 | ▼ 2.6% |
| Other amounts receivable41 | - | €4,762 | €4,474 | €39,382 | €18,191 | ▼ 53.8% |
| Current investments50/53 | €42,345 | €69,192 | €69,192 | - | - | - |
| Cash at bank and in hand54/58 | €687,868 | €282,410 | €183,300 | €258,589 | €410,981 | ▲ 58.9% |
| Deferred charges and accrued income490/1 | - | €3,315 | €2,668 | - | €7,735 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €971,448 | €1.1m | €1.3m | €1.4m | ▲ 9.1% |
| Equity10/15 | €328,614 | €369,670 | €375,284 | €402,716 | €439,425 | ▲ 9.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €266,614 | €307,670 | €313,284 | €313,284 | €313,284 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | €6,593 | €6,593 | €6,593 | €6,593 | = |
| Distributable reserves133 | - | €294,876 | €300,491 | €300,491 | €300,491 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | €27,432 | €64,141 | ▲ 134% |
| Amounts payable17/49 | €1.5m | €601,778 | €748,966 | €923,438 | €1.0m | ▲ 9.1% |
| Amounts payable after more than one year17 | €0 | €23,943 | €50,070 | €29,070 | €12,869 | ▼ 55.7% |
| Financial debts170/4 | - | €23,943 | €50,070 | €29,070 | €12,869 | ▼ 55.7% |
| Amounts payable within one year42/48 | €1.5m | €577,836 | €698,896 | €894,369 | €994,377 | ▲ 11.2% |
| Current portion of amounts payable after more than one year42 | - | €8,821 | €20,491 | €21,015 | €16,201 | ▼ 22.9% |
| Trade debts44 | €209,688 | €422,844 | €579,321 | €688,682 | €735,714 | ▲ 6.8% |
| Suppliers440/4 | - | €422,844 | €579,321 | €688,682 | €735,714 | ▲ 6.8% |
| Taxes, remuneration and social security45 | - | €32,775 | €66,199 | €69,612 | €77,526 | ▲ 11.4% |
| Taxes450/3 | - | €11,932 | €33,992 | €41,990 | €54,364 | ▲ 29.5% |
| Remuneration and social security454/9 | - | €20,842 | €32,207 | €27,622 | €23,163 | ▼ 16.1% |
| Other amounts payable47/48 | - | €113,396 | €32,885 | €115,059 | €164,936 | ▲ 43.3% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.1m | €141,056 | €35,614 | €127,432 | €186,710 | ▲ 46.5% |
| + Depreciation and write-downs630 | €12,790 | €28,692 | €36,985 | €50,620 | €62,317 | ▲ 23.1% |
| Operating cash flow (approximation) | €1.1m | €169,748 | €72,599 | €178,052 | €249,027 | ▲ 39.9% |
| Investment in fixed assets (approximation) | - | - | -€202,140 | €13,623 | -€35,194 | ▼ 358% |
| Change in cash | - | - | -€99,110 | €75,288 | €152,393 | ▲ 102% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
31-12
Financial
Weakest financial yearnet €35,614 ▼74.8%
Net result drops to €35,614, the lowest in the series; recovery starts the following year.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2020
31-12
Financial
Highest result since 2018net €1.1m ▲1,193%
Operating result €1.2m, net result €1.1m, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Anderlecht · 1 establishment unit since 1992
Ground area
3,667 m²
Building footprint
1,060 m²
Volume, LiDAR
15,939 m³
2 parcels, Brussels, Wallonia · tallest building 52.2 m, ±16 floors. Linked by address, not a title deed.
143
companies at this address
See who is registered here
1 establishment unit
Rue du Développement durable(L) 24, 7900 Leuze-en-Hainaut
since 19922.059.922.484
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57019B0061/00M000 | Wallonia | 2,870 m² | 1 · 727 m² | - |
| 21308H0298/00G000 | Brussels | 797 m² | 1 · 333 m² | 52.2 m · 16 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- MEDISOLUTIONS
- PHARMAMED
Highest known parent: MEDISOLUTIONS. The sources do not say who stands above it.
Owners 1
- MEDISOLUTIONSparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded02-08-1991
Fiscal year end31-12
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444844572
Also
9925:BE0444844572
Registered
15-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.