PHARUS
ActiveSummary
PHARUS has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €598,754 and a net result of €1,669. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 75% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+52
Solvency89▲+12
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 5.54 against 0.54 in 2024; short-term debt: 5.7% and cash: 22% of total assets), and 35.8% of the assets are financed with debt.
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Signals
Four 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
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
64.2%
Return on assets
0.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
13 d early
2023
127 d late
2022
139 d late
2021
153 d late
2020
26 d late
2019
227 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 97 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€598,754▲ 0.3%
2024 · €597,085
Total assets
€931,986▼ 18.4%
2024 · €1.1m
Net result
€1,669
2024 · -€112,297
Working capital
€241,636
2024 · -€104,652
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€352,886▲ 478%€18,553▼ 94.7%€228,569▲ 1,132%-€37,947€7,094
Net result€251,446▲ 530%€1,528▼ 99.4%€176,729▲ 11,467%-€112,297€1,669
Equity€531,126▲ 89.9%€532,654▲ 0.3%€709,383▲ 33.2%€597,085▼ 15.8%€598,754▲ 0.3%
Total assets€1.4m▲ 111%€1.3m▼ 9.0%€1.2m▼ 8.5%€1.1m▼ 5.2%€931,986▼ 18.4%
Debt€915,995▲ 126%€784,402▼ 14.4%€496,022▼ 36.8%€545,388▲ 10.0%€333,232▼ 38.9%
Working capital-€224,627-€225,411▼ 0.3%-€21,619▲ 90.4%-€104,652▼ 384%€241,636
Staff (FTE)1
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2023 Net result +11,467% on 2022. Cause not known from the registers.
- 2022 Net result -99% on 2021. The previous fiscal year ran 18 months, this one 12.
- 2021 Net result +530% on 2020. This fiscal year ran 18 months, the previous one 12.
- 2021 Equity +90%, Total assets +111% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €7,094 after a loss of €37,947 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €931,986
Fixed assets
€637,077 ▼ 37.5%
Current assets
€294,908 ▲ 140%
Equity and liabilities €931,986
Equity
€598,754 ▲ 0.3%
Debt
€333,232 ▼ 38.9%
Debt's share of the balance-sheet total falls from 47.7% to 35.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57,236▲
2024 · €24,866
Cash flow
€51,810▲
2024 · -€49,485
Current ratio
5.54▲
2024 · 0.54
Debt to equity
0.56▼
2024 · 0.91
ROE
0.3%▲
2024 · -18.8%
ROA
0.2%▲
2024 · -9.8%
Interest coverage
8.97▲
2024 · 1.31
Debt ≤ 1 year
€53,272▼
2024 · €227,420
Debt > 1 year
€279,959▼
2024 · €317,968
Income taxes
€221▼
2024 · €55,349
Staff costs
€0▼
2024 · €20,321
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
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 497,058 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% | 1.6% |
| 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 74% 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 14,684 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €22,779 | €0 | €274,540 | €0 | €59,297 | - |
| Remuneration, social security and pensions62 | - | - | €3,362 | €20,321 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | €61,975 | €61,855 | €62,813 | €50,142 | ▼ 20.2% |
| Other operating charges640/8 | €5,536 | €4,003 | €11,991 | €27,621 | €5,592 | ▼ 79.8% |
| Gross operating margin9900 | €358,422 | €84,530 | €305,777 | €72,807 | €62,828 | ▼ 13.7% |
| Operating profit (loss)9901 | €352,886 | €18,553 | €228,569 | -€37,947 | €7,094 | ▲ 119% |
| Financial income75/76B | €25 | €6,873 | €366 | €0 | €1,173 | - |
| Recurring financial income75 | €25 | €6,873 | €366 | €0 | €1,173 | - |
| Financial charges65/66B | €10,132 | €14,111 | €2,206 | €19,002 | €6,378 | ▼ 66.4% |
| Recurring financial charges65 | €10,132 | €14,111 | €2,206 | €19,002 | €6,378 | ▼ 66.4% |
| Profit (loss) for the period before taxes9903 | €342,778 | €11,314 | €226,729 | -€56,949 | €1,890 | ▲ 103% |
| Income taxes67/77 | €91,333 | €9,786 | €50,000 | €55,349 | €221 | ▼ 99.6% |
| Profit (loss) for the period9904 | €251,446 | €1,528 | €176,729 | -€112,297 | €1,669 | ▲ 101% |
| Profit (loss) for the period to be appropriated9905 | €251,446 | €1,528 | €176,729 | -€112,297 | €1,669 | ▲ 101% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.3m | €1.2m | €1.1m | €931,986 | ▼ 18.4% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.1m | €1.0m | €637,077 | ▼ 37.5% |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.1m | €1.0m | €627,077 | ▼ 37.9% |
| Land and buildings22 | €371,269 | €371,269 | €383,843 | €383,843 | €363,843 | ▼ 5.2% |
| Furniture and vehicles24 | €49,096 | €39,230 | €37,552 | €26,047 | €16,365 | ▼ 37.2% |
| Other tangible fixed assets26 | €783,996 | €725,662 | €651,122 | €599,815 | €246,869 | ▼ 58.8% |
| Financial fixed assets28 | €15,890 | €15,890 | €14,460 | €10,000 | €10,000 | = |
| Current assets29/58 | €226,871 | €165,006 | €118,427 | €122,768 | €294,908 | ▲ 140% |
| Amounts receivable within one year40/41 | €35,062 | €18,245 | €58,642 | €57,320 | €90,246 | ▲ 57.4% |
| Trade receivables40 | €0 | €850 | €52,078 | €45,182 | €64,514 | ▲ 42.8% |
| Other amounts receivable41 | €35,062 | €17,395 | €6,564 | €12,138 | €25,733 | ▲ 112% |
| Current investments50/53 | - | €133,000 | €55,725 | €45,532 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €191,809 | €13,761 | €4,060 | €19,917 | €204,598 | ▲ 927% |
| Deferred charges and accrued income490/1 | - | - | - | - | €64 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €1.2m | €1.1m | €931,986 | ▼ 18.4% |
| Equity10/15 | €531,126 | €532,654 | €709,383 | €597,085 | €598,754 | ▲ 0.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €512,526 | €514,054 | €690,783 | €690,783 | €580,154 | ▼ 16.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | €10,078 | €10,078 | €10,078 | €10,078 | €10,078 | = |
| Distributable reserves133 | €500,588 | €502,116 | €678,844 | €680,704 | €570,076 | ▼ 16.3% |
| Profit (loss) carried forward14 | - | - | - | -€112,297 | €0 | ▲ 100% |
| Amounts payable17/49 | €915,995 | €784,402 | €496,022 | €545,388 | €333,232 | ▼ 38.9% |
| Amounts payable after more than one year17 | €464,497 | €393,985 | €355,976 | €317,968 | €279,959 | ▼ 12.0% |
| Financial debts170/4 | €464,497 | €393,985 | €355,976 | €317,968 | €279,959 | ▼ 12.0% |
| Amounts payable within one year42/48 | €451,498 | €390,417 | €140,046 | €227,420 | €53,272 | ▼ 76.6% |
| Current portion of amounts payable after more than one year42 | €39,021 | €59,326 | €38,008 | €39,952 | €39,952 | = |
| Trade debts44 | €333,910 | €221,118 | €0 | €1,152 | €9,078 | ▲ 688% |
| Suppliers440/4 | €333,910 | €221,118 | €0 | €1,152 | €9,078 | ▲ 688% |
| Taxes, remuneration and social security45 | €56,540 | €49,881 | €50,000 | €59,794 | €4,242 | ▼ 92.9% |
| Taxes450/3 | €51,540 | €49,881 | €50,000 | €51,693 | €4,242 | ▼ 91.8% |
| Remuneration and social security454/9 | €5,000 | €0 | - | €8,100 | €0 | ▼ 100% |
| Other amounts payable47/48 | €22,028 | €60,093 | €52,037 | €126,522 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €251,446 | €1,528 | €176,729 | -€112,297 | €1,669 | ▲ 101% |
| + Depreciation and write-downs630 | €0 | €61,975 | €61,855 | €62,813 | €50,142 | ▼ 20.2% |
| Operating cash flow (approximation) | €251,446 | €63,503 | €238,584 | -€49,485 | €51,810 | ▲ 205% |
| Investment in fixed assets (approximation) | - | €6,225 | €3,217 | €4,460 | €332,486 | ▲ 7,355% |
| Change in cash | - | -€178,048 | -€9,700 | €15,857 | €184,681 | ▲ 1,065% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
31-12
Financial
Back to profitnet €1,669
Net result €1,669 after one loss-making year.
31-12
Financial
Liquidity times 10current ratio 5.54
Current ratio from 0.54 to 5.54; short-term debt falls from €227,420 to €53,272.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€112,297
Net result drops to -€112,297, the lowest in the series; recovery starts the following year.
05-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 127 days late
2023
17-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 139 days late
2022
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
2021
31-12
Financial
Highest result since 2019net €251,446 ▲530%
Operating result €352,886, net result €251,446, both a record.
31-12
Financial
Equity above €500,000Eq €531,126 ▲89.9%
3 profitable years in a row build equity to €531,126.
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 227 days late
Show earlier events
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Zulte · 1 establishment unit since 2000
Ground area
4,017 m²
Building footprint
775 m²
Volume, LiDAR
4,257 m³
2 parcels, Flanders · tallest building 13.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Kortrijksesteenweg 198, 8530 Harelbeke
since 20002.115.715.302
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081C0101/00K000 | Flanders | 2,086 m² | 1 · 216 m² | 8.3 m · 2 fl. |
| 34013A1135/00D003 | Flanders | 1,931 m² | 1 · 558 m² | 13.7 m · 1 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.
Recognitions · licences · registrations
Legal Entity Identifier
9845008AD05B03AQE544
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Of 3,223 companies in sector 47400 we hold annual accounts for 1,806. 1,050 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
Founded06-01-2000
Fiscal year end31-12
Activities, NACEBEL 2025
47400Retail sale of information and communication equipment
46500Wholesale of information and communication equipment
62100Computer programming
77330Rental and leasing activities
95100Repair and maintenance of computers and communication equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0469022219
Also
9925:BE0469022219
Registered
05-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.