Equity
-€2,362
Debts exceed assets in financial year 2025.
PHARMAPULSE
Lifetime
2 annual accounts with figures on one time axispeak €889,809 (2025)
€889,809▲ 18×
lowest -€6,479 (2025)
-€6,479▼ €9,595
peak €4,117 (2024)
-€2,362▼ €6,479
€284,565▲ 677%
Board1 name since 2024
1 directorPaul RANSART
Documentsfilings and deeds
22-08-202622 days late
2025micro format
Gross margin from €49,235 to €889,809Loss of €6,479Equity from €4,117 to -€2,362Debts from €36,608 to €284,565Cash from €8,909 to €55,038
Key points
from the 2025 annual accountsTurnover
≈ €1.8m estimated
The micro format states no turnover.
Debts
€284,565 101% of the balance sheet
Suppliers 8%Taxes and wages 92%
Staff
14.5 FTE ▲ 24×
More staff in 2025 from 0.6 FTE to 14.5 FTE.
Starting capital
€1,000 50 shares
Position in the sector
-€2,362
Less equity than 87% of companies in employment activities. Sector median €55,985 · 981 companies.
2025 accounts filed 22 days after the deadline
Checked score
53
Fair
Financially stronger than 14% of micro companies in employment activities (NACE 78)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 1,379 companies (NACE 78, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
05-2025: 0.6%
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.7%▲ +0.1 percentage points vs 06-2025
08-2025: 0.7%● unchanged vs 07-2025
09-2025: 0.7%● unchanged vs 08-2025
10-2025: 0.8%▲ +0.1 percentage points vs 09-2025
11-2025: 0.7%▼ -0.1 percentage points vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.8%▲ +0.1 percentage points vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 1.0%▲ +0.2 percentage points vs 06-2026
08-2026: 1.2%▲ +0.2 percentage points vs 07-2026highest value
09-2026: 0.6%▼ -0.6 percentage points vs 08-2026lowest value
10-2026: 0.6%● unchanged vs 09-2026lowest value
11-2026: 0.6%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€2,362
lowers risk
Sector: Employment activities (NACE 78)
Liquidity: current ratio 0.99, cash €55,038
Legal form: general partnership
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 78, micro). It does better than 15% of them on solvency, 15% on liquidity, 23% on profitability and 4% 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, 1,251 companies had the same profile as PHARMAPULSE has now. Each dot stands for 4 companies, two years later.
96.6%
were still trading
2.1%
stopped another way
1.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHARMAPULSE itself: 0.6% 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 1,251 companies, not a prediction for PHARMAPULSE. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.99 (1.11 in 2024), below 1. Short-term debt is 100.8% and cash 19.5% of total assets. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2425
2024 to 2025 · latest year -€2,362
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
raises risk · 2025 accounts filed 22 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-08-2026, 22 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 · 2 filingsDeviation from the deadline
2025
22 days late
2024
82 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 52 days after the deadline. In the sector (NACE 78), the median for financial year 2024 was 14 days before the deadline, and 30% 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.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Pharmalliance SA founderdeed of 15-04-2024
- Les Pharmacies Rurales SA founderdeed of 15-04-2024
- Tamiphar SA founderdeed of 15-04-2024
Recent changes
Registered office moved from Genappe to Lasne
New registered office: Rue de la Bachée, 86 à 1380 Lasne · Previous registered office: Rue des Lilas, 1 à 1470 Genappe · General meeting of 16-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1008309951
Purpose change · Amendment of the articles
“Dans le cadre d'un groupement d'employeurs au sens du chapitre XI de la loi du 12 août 2000,de mutualiser les…” (deed in French) · General meeting of 20-06-2024 · Gazette deed
Incorporation
Founding capital of €1,000, 50 shares · Founders: Pharmalliance SA, Les Pharmacies Rurales SA, Tamiphar SA and 20 others · Appointment: Paul Ransart (manager) · published on 15-04-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PHARMAPULSE Lasne | €282,204 | €0.9m | -0.8% | - |
| Generation4 Care Flex Ghent | €217,893 | €1.2m | 20.7% | 3.1 |
| Legio Affligem | €345,124 | €0.6m | 2.0% | - |
| De Flexperts Zemst | €286,373 | €0.8m | 2.0% | - |
| Payroll Masters Westerlo | €312,875 | €0.7m | 26.9% | - |
| Generation4 Technics Ghent | €224,665 | €0.5m | -87.9% | 6.8 |
| Group-f Jobs Kontich | €241,393 | €0.9m | 28.2% | 8.5 |
These companies have the same main activity as PHARMAPULSE: temporary employment agencies and other provision of personnel (NACE 78200). They are comparable in size and age: total assets between €218,000 and €345,000, founded between 2022 and 2024.
Official details
Source: KBO- Status
- Active since 11-04-2024Normal situation
- Activity
- Temporary employment agencies and other provision of personnelNACE 78200and 2 others
- Establishment unit
- 2.360.053.0551470 Genappe, since 11-04-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 23-09-2025
Annual accounts 2025
- €282,204▲ 593%
- Employeeson 31-12-2025
- 17▲ 467%
- Filing
- Filed on 22-08-2026
Insights on PHARMAPULSE
PHARMAPULSE has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€2,362) and a net result of -€6,479.
Its solvency ranks better than 14% of 981 sector peers (NACE 78, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
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 PHARMAPULSE
- What is the company number of PHARMAPULSE?
- The company number of PHARMAPULSE is 1008.309.951. The VAT number is the same number with BE in front: BE 1008.309.951.
- Where is PHARMAPULSE based?
- The registered office is at Rue de la Bachée 86, 1380 Lasne.Company details
- What does PHARMAPULSE do?
- According to the KBO register, the main activity is temporary employment agencies and other provision of personnel (NACE 78200).
- What is the legal form of PHARMAPULSE?
- PHARMAPULSE is a general partnership (VOF).
- When was PHARMAPULSE founded?
- PHARMAPULSE was founded on 11-04-2024.
- Is PHARMAPULSE still active?
- Yes, PHARMAPULSE is an active enterprise in the KBO register.
- How many employees does PHARMAPULSE have?
- PHARMAPULSE had an average of 14.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of PHARMAPULSE?
- The turnover in financial year 2025 is ≈ €1.8m. This figure is estimated from the gross margin of €889,809 and 879 comparable companies of the same size. It probably lies between €1.2m and €2.6m. It is a rough estimate.
- Is PHARMAPULSE profitable?
- In financial year 2025, PHARMAPULSE made a loss of €6,479.
- Where can I find the annual accounts of PHARMAPULSE?
- PHARMAPULSE filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PHARMAPULSE due?
- PHARMAPULSE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.