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Pharmentum

Active
Public limited companyfounded 20188 years activeGroeningenlei 16, 2550 Kontich, BelgiumKBO/BCE: BE 0699.939.132
Summary

The computed 12-month bankruptcy probability of Pharmentum is 3.3% (moderate). The 2025 annual accounts show equity of €303,300 and a net result of -€37,252. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 88 sector peers (NACE 21, fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Overview

Activity
Manufacture of basic pharmaceutical products and pharmaceutical preparations
NACE 21201Wholesale of pharmaceutical and medical goods NACE 46460
Size
€1.2mtotal assets 2025
Staff
1 FTE
Equity
€303,300
Loss
-€37,252
Financial health
49 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
3.3%
Structure
Parent
Substera BV
Holdings
3
  • PROCURAMDirector · permanent representative Michaël Hillaert
  • SUBSTERADirector · permanent representative Jeremy Schuermans
Accounts filed 59 days late1 of 6 deeds read
Why 49- Latest accounts 59 days late; 3 of the last 3 late- Liquidity: current ratio 0.16, cash €1,322, halved- No establishment unit in the KBO+ Size: 1 FTE, total assets €1.2mShow the evidence

Checked score

Score 2025
49 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 34% of its sector peers (NACE 21, micro)
Financial strength · tick = 2024
Weak
Solvency 51-1
equity 25.9% of total assets
Liquidity 19-6
short-term debt 59.9% · cash 0.1%
Profitability 30+3
return on assets -3.2%
Bankruptcy probability, 12 months
3.3% Moderate
0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (154 companies)
Last 24 months 11-2024: 8.8%highest value 12-2024: 2.4%▼ -6.4 percentage points vs 11-2024 01-2025: 2.3%▼ -0.1 percentage points vs 12-2024 02-2025: 2.3%● unchanged vs 01-2025 03-2025: 2.3%● unchanged vs 02-2025 04-2025: 2.3%● unchanged vs 03-2025 05-2025: 2.2%▼ -0.1 percentage points vs 04-2025 06-2025: 2.6%▲ +0.4 percentage points vs 05-2025 07-2025: 2.7%▲ +0.1 percentage points vs 06-2025 08-2025: 3.6%▲ +0.9 percentage points vs 07-2025 09-2025: 4.2%▲ +0.6 percentage points vs 08-2025 10-2025: 6.7%▲ +2.5 percentage points vs 09-2025 11-2025: 2.0%▼ -4.7 percentage points vs 10-2025 12-2025: 2.0%● unchanged vs 11-2025 01-2026: 2.0%● unchanged vs 12-2025lowest value 02-2026: 2.0%● unchanged vs 01-2026lowest value 03-2026: 2.0%● unchanged vs 02-2026 04-2026: 2.0%● unchanged vs 03-2026 05-2026: 2.0%● unchanged vs 04-2026 06-2026: 2.1%▲ +0.1 percentage points vs 05-2026 07-2026: 2.2%▲ +0.1 percentage points vs 06-2026 08-2026: 3.1%▲ +0.9 percentage points vs 07-2026 09-2026: 3.3%▲ +0.2 percentage points vs 08-2026 10-2026: 3.3%● unchanged vs 09-2026
Credit up to €14,000 at 30 days acceptable
Liquidity short (current ratio 0.16 against 0.52 in 2024; short-term debt: 59.9% and cash: 0.1% of total assets), and 74.1% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 21, micro): better than 45% on solvency, 19% on liquidity, 36% on profitability and 37% on growth.

The bankruptcy probability was computed on 07-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
−lowers risk+raises risk○neutral
raises risk · Latest accounts 59 days late; 3 of the last 3 late
NBB · filings
raises risk · Liquidity: current ratio 0.16, cash €1,322, halved
NBB · annual accounts
raises risk · No establishment unit in the KBO
KBO · seat and establishments
lowers risk · Size: 1 FTE, total assets €1.2m
The company's size counts in the probability; how much depends on the rest of its profile.
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
19202122232425
2019 to 2025 · latest year -€37,252
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-09-2026, 59 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 · 7 filings
Deviation from the deadline
2025
59 days late
2024
61 days late
2023
97 days late
2022
31 days late
2021
30 days late
2020
92 days late
2019
35 days 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 58 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 28 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
07-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Resignations: JOKA BV, VIOS BV and…Permanent representatives: Joeri Van den…
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€37,252 View
  • Caution: Board changedlatest change 26-03-2026 · 2 in office 2 joined · 3 left View
  • Caution: Among the weakest 18% on equitysector median €5.0m · 88 companies €303,300 View
  • Controlled by Substera BVitself parent of 2 companies parent View

By topic

Financials

Fiscal year
2025
Total assets
€1.2m
Loss
-€37,252
Solvency
25.9%
Total assets▼ 6.2%
Net result
20192025
Go to Financials

Timeline

Events
11
Since
2020
Next accounts
by 31-07-2027
  1. 05-11-2024Annual accounts filed
  2. 31-08-2023Annual accounts filed
  3. 30-08-2022Annual accounts filed
Go to Timeline

Company details

Legal form
Public limited company
Activity
Manufacture of basic pharmaceutical products and pharmaceutical preparationsNACE 21201
Founded
16-07-2018
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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