Pharmed
ActiveSummary
Pharmed has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €44,788 and a net result of €1,022. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 42% of 18458 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-30
Solvency49▲+2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.12 in 2024; short-term debt: 75.6% and cash: 7.8% of total assets), and 75.6% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
24.4%
Return on assets
0.6%
Age of the figures
9 mo
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 · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €44,788
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
11 d late
2023
21 d late
2022
9 d late
2021
18 d early
2020
31 d late
2019
32 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 16 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€44,788▲ 2.3%
2024 · €43,766
Total assets
€183,800▼ 7.2%
2024 · €198,001
Net result
€1,022▼ 97.9%
2024 · €47,711
Working capital
€9,772▼ 47.2%
2024 · €18,524
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€35,732▲ 15.9%€51,453▲ 44.0%€41,046▼ 20.2%€66,352▲ 61.7%€4,354▼ 93.4%
Net result€24,111▲ 21.8%€37,112▲ 53.9%€27,853▼ 24.9%€47,711▲ 71.3%€1,022▼ 97.9%
Equity€8,055=€8,055=€8,055=€43,766▲ 443%€44,788▲ 2.3%
Total assets€218,030▼ 1.6%€208,489▼ 4.4%€184,376▼ 11.6%€198,001▲ 7.4%€183,800▼ 7.2%
Debt€209,975▼ 1.7%€200,434▼ 4.5%€176,321▼ 12.0%€154,234▼ 12.5%€139,013▼ 9.9%
Working capital-€14,038-€16,472▼ 17.3%-€17,889▼ 8.6%€18,524€9,772▼ 47.2%
Staff (FTE)1.4=1.4=1.6▲ 14.3%1.5▼ 6.3%1▼ 33.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 93% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €183,800
Fixed assets
€35,016 ▲ 38.7%
Current assets
€148,784 ▼ 13.9%
Equity and liabilities €183,800
Equity
€44,788 ▲ 2.3%
Debt
€139,013 ▼ 9.9%
Debt's share of the balance-sheet total falls from 77.9% to 75.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€13,500▼
2024 · €75,639
Cash flow
€10,168▼
2024 · €56,998
Current ratio
1.07▼
2024 · 1.12
Quick ratio
0.62▲
2024 · 0.56
Debt to equity
3.10▼
2024 · 3.52
ROE
2.3%▼
2024 · 109.0%
ROA
0.6%▼
2024 · 24.1%
Interest coverage
10.18▼
2024 · 30.50
Debt ≤ 1 year
€139,013▼
2024 · €154,234
Income taxes
€2,011▼
2024 · €16,169
Staff costs
€57,289▲
2024 · €54,483
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €64,003 | €69,836 | €67,651 | €54,483 | €57,289 | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,654 | €17,695 | €18,559 | €9,287 | €9,146 | ▼ 1.5% |
| Other operating charges640/8 | €81 | €500 | €58 | €139 | €410 | ▲ 195% |
| Gross operating margin9900 | €115,471 | €139,484 | €127,314 | €130,261 | €71,199 | ▼ 45.3% |
| Operating profit (loss)9901 | €35,732 | €51,453 | €41,046 | €66,352 | €4,354 | ▼ 93.4% |
| Financial income75/76B | €20 | €73 | €22 | €7 | €4 | ▼ 41.9% |
| Recurring financial income75 | €20 | €73 | €22 | €7 | €4 | ▼ 41.9% |
| Financial charges65/66B | €2,891 | €2,095 | €2,542 | €2,480 | €1,326 | ▼ 46.5% |
| Recurring financial charges65 | €2,891 | €2,095 | €2,542 | €2,480 | €1,326 | ▼ 46.5% |
| Profit (loss) for the period before taxes9903 | €32,862 | €49,431 | €38,526 | €63,880 | €3,032 | ▼ 95.3% |
| Income taxes67/77 | €8,750 | €12,320 | €10,672 | €16,169 | €2,011 | ▼ 87.6% |
| Profit (loss) for the period9904 | €24,111 | €37,112 | €27,853 | €47,711 | €1,022 | ▼ 97.9% |
| Profit (loss) for the period to be appropriated9905 | €24,111 | €37,112 | €27,853 | €47,711 | €1,022 | ▼ 97.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €218,030 | €208,489 | €184,376 | €198,001 | €183,800 | ▼ 7.2% |
| Fixed assets21/28 | €50,347 | €35,145 | €25,978 | €25,242 | €35,016 | ▲ 38.7% |
| Intangible fixed assets21 | €22,042 | €10,542 | - | - | - | - |
| Tangible fixed assets22/27 | €28,146 | €24,444 | €25,818 | €25,082 | €34,856 | ▲ 39.0% |
| Plant, machinery and equipment23 | €22,895 | €19,162 | €15,448 | €17,227 | €26,217 | ▲ 52.2% |
| Furniture and vehicles24 | €5,251 | €5,282 | €10,370 | €7,856 | €8,639 | ▲ 10.0% |
| Financial fixed assets28 | €160 | €160 | €160 | €160 | €160 | = |
| Current assets29/58 | €167,683 | €173,343 | €158,399 | €172,758 | €148,784 | ▼ 13.9% |
| Stocks and contracts in progress3 | €65,240 | €73,084 | €74,485 | €86,437 | €63,072 | ▼ 27.0% |
| Stocks30/36 | €65,240 | €73,084 | €74,485 | €86,437 | €63,072 | ▼ 27.0% |
| Amounts receivable within one year40/41 | €61,964 | €61,453 | €63,993 | €52,952 | €70,550 | ▲ 33.2% |
| Trade receivables40 | €58,587 | €50,453 | €63,978 | €52,827 | €67,008 | ▲ 26.8% |
| Other amounts receivable41 | €3,377 | €11,000 | €15 | €125 | €3,542 | ▲ 2,735% |
| Cash at bank and in hand54/58 | €40,479 | €37,136 | €17,943 | €33,369 | €14,394 | ▼ 56.9% |
| Deferred charges and accrued income490/1 | - | €1,670 | €1,978 | €0 | €768 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €218,030 | €208,489 | €184,376 | €198,001 | €183,800 | ▼ 7.2% |
| Equity10/15 | €8,055 | €8,055 | €8,055 | €43,766 | €44,788 | ▲ 2.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Non-distributable reserves130/1 | €1,855 | €1,855 | - | - | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | - | - | - | - |
| Distributable reserves133 | - | - | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | - | - | - | €35,711 | €36,733 | ▲ 2.9% |
| Amounts payable17/49 | €209,975 | €200,434 | €176,321 | €154,234 | €139,013 | ▼ 9.9% |
| Amounts payable after more than one year17 | €28,124 | €10,536 | - | - | - | - |
| Financial debts170/4 | €28,124 | €10,536 | - | - | - | - |
| Amounts payable within one year42/48 | €181,721 | €189,816 | €176,288 | €154,234 | €139,013 | ▼ 9.9% |
| Current portion of amounts payable after more than one year42 | €18,402 | €19,028 | €12,024 | €0 | - | - |
| Trade debts44 | €112,699 | €98,049 | €92,510 | €88,878 | €102,131 | ▲ 14.9% |
| Suppliers440/4 | €112,699 | €98,049 | €92,510 | €88,878 | €102,131 | ▲ 14.9% |
| Taxes, remuneration and social security45 | €26,509 | €35,627 | €39,102 | €41,623 | €33,253 | ▼ 20.1% |
| Taxes450/3 | €16,756 | €26,574 | €25,032 | €27,848 | €19,896 | ▼ 28.6% |
| Remuneration and social security454/9 | €9,753 | €9,053 | €14,070 | €13,775 | €13,357 | ▼ 3.0% |
| Other amounts payable47/48 | €24,111 | €37,112 | €32,652 | €23,733 | €3,629 | ▼ 84.7% |
| Accrued charges and deferred income492/3 | €130 | €83 | €34 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,111 | €37,112 | €27,853 | €47,711 | €1,022 | ▼ 97.9% |
| + Depreciation and write-downs630 | €15,654 | €17,695 | €18,559 | €9,287 | €9,146 | ▼ 1.5% |
| Operating cash flow (approximation) | €39,765 | €54,807 | €46,412 | €56,998 | €10,168 | ▼ 82.2% |
| Investment in fixed assets (approximation) | - | -€2,493 | -€9,392 | -€8,551 | -€18,920 | ▼ 121% |
| Change in cash | - | -€3,343 | -€19,193 | €15,426 | -€18,974 | ▼ 223% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €1,022 ▼97.9%
Net result drops to €1,022, the lowest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
31-12
Financial
Highest result since 2018net €47,711 ▲71.3%
Operating result €66,352, net result €47,711, both a record.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Schaarbeek · 1 establishment unit since 2014
Ground area
88 m²
Building footprint
83 m²
Volume, LiDAR
835 m³
Parcel 21906D0351/00S009, Brussels · tallest building 14.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Pharmed
since 20142.225.647.479
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21906D0351/00S009 | Brussels | 88 m² | 1 · 83 m² | 14.4 m · 4 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 5,221 companies in sector 47730 we hold annual accounts for 3,860. 2,605 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
Founded18-12-2013
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
Scores and ratios are computed by Checked and are not a credit decision.