PHILIPS BELGIUM COMMERCIAL
ActivePHILIPS BELGIUM COMMERCIAL has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €14.36M and a net result of €1.31M. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 51% of 6537 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability60▲+1
Solvency59▼-9
Growth35=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750k at 30 days acceptable
Liquidity ample (current ratio 1.65 against 2.46 in 2023; short-term debt: 48.6% and cash: 0% of total assets), but 66.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 47
higher
← 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 2024Solvency, return and age of the figures
Solvency
33.7%
Return on assets
3.1%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
26 d early
2022
41 d early
2021
20 d early
2020
15 d early
2019
14 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€73.68M▲ 7.5%
2023 · €68.53M
2018: €134.65M
2019: €121.46M
2020: €124.62M
2021: €106.57M
2022: €73.51M
2023: €68.53M
2018 → 2024
EBIT margin
3.1%▲ 0.6pp
2023 · 2.5%
2018: 1.7%
2019: 1.5%
2020: 2.3%
2021: 3.6%
2022: 2.1%
2023: 2.5%
2018 → 2024
Net result
€1.31M▲ 23.5%
2023 · €1.06M
2018: €1.33M
2019: €698k
2020: €1.82M
2021: €2.60M
2022: €1.09M
2023: €1.06M
2018 → 2024
Working capital
€13.38M▼ 27.2%
2023 · €18.37M
2018: €18.71M
2019: €19.70M
2020: €20.18M
2021: €20.39M
2022: €18.64M
2023: €18.37M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€124.62M-€106.57M▼ 14.5%€73.51M▼ 31.0%€68.53M▼ 6.8%€73.68M▲ 7.5%
Equity€14.54M-€15.41M▲ 6.0%€14.03M▼ 9.0%€14.06M▲ 0.2%€14.36M▲ 2.1%
Operating result€2.92M-€3.88M▲ 33.0%€1.53M▼ 60.6%€1.73M▲ 13.5%€2.31M▲ 33.2%
Net result€1.82M-€2.60M▲ 42.6%€1.09M▼ 58.2%€1.06M▼ 2.9%€1.31M▲ 23.5%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 33% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €42.64M
Fixed assets
€8.55M▲ 423%
Current assets
€34.08M▲ 10.1%
Equity and liabilities €42.64M
Equity
€14.36M▲ 2.1%
Provisions
€2.95M▲ 12.6%
Debt
€25.33M▲ 59.0%
The debt ratio rises from 48.8% to 59.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.82M▲
2023 · €2.11M
Cash flow
€1.82M▲
2023 · €1.43M
Solvency
33.7%▼
2023 · 43.1%
Current ratio
1.65▼
2023 · 2.46
Quick ratio
1.39▼
2023 · 2.12
Debt / equity
1.76▲
2023 · 1.13
ROE
9.1%▲
2023 · 7.5%
ROA
3.1%▼
2023 · 3.2%
Interest coverage
20.53▲
2023 · 19.92
Debt
€25.33M▲
2023 · €15.93M
Debt ≤ 1 year
€20.70M▲
2023 · €12.60M
Income taxes
€976k▲
2023 · €729k
Staff costs
€24.38M▲
2023 · €23.30M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€32.61M€42.64M▲
Fixed assets21/28€1.63M€8.55M▲
Intangible fixed assets21€65k€23k▼
Tangible fixed assets22/27€820k€1.38M▲
Plant, machinery and equipment23€24k€6k▼
Other tangible fixed assets26€795k€1.38M▲
Financial fixed assets28€750k€7.14M▲
Other financial fixed assets284/8€750k€7.14M▲
Shares284€750k€7.14M▲
Current assets29/58€30.97M€34.08M▲
Amounts receivable after more than one year29€529k€188k▼
Trade receivables290€529k€188k▼
Stocks and contracts in progress3€4.30M€5.33M▲
Stocks30/36€1.25M€1.46M▲
Goods purchased for resale34€1.25M€1.46M▲
Contracts in progress37€3.04M€3.88M▲
Amounts receivable within one year40/41€16.18M€26.85M▲
Trade receivables40€16.09M€26.83M▲
Other amounts receivable41€91k€15k▼
Cash at bank and in hand54/58€8.10M€0▼
Deferred charges and accrued income490/1€1.87M€1.72M▼
Equity and liabilities
Total equity and liabilities10/49€32.61M€42.64M▲
Equity10/15€14.06M€14.36M▲
Contributions10/11€12.50M€12.50M=
Capital10€12.50M€12.50M=
Issued capital100€12.50M€12.50M=
Reserves13€551k€617k▲
Non-distributable reserves130/1€551k€617k▲
Legal reserve130€551k€617k▲
Profit (loss) carried forward14€1.01M€1.24M▲
Provisions and deferred taxes16€2.62M€2.95M▲
Provisions for liabilities and charges160/5€2.62M€2.95M▲
Pensions and similar obligations160€452k€555k▲
Taxes161-€66k
Environmental obligations163-€107k
Other liabilities and charges164/5€2.17M€2.23M▲
Amounts payable17/49€15.93M€25.33M▲
Amounts payable within one year42/48€12.60M€20.70M▲
Financial debts43-€6.16M
Credit institutions430/8-€6.16M
Trade debts44€4.98M€4.54M▼
Suppliers440/4€4.98M€4.54M▼
Advances received on contracts in progress46€132k€32k▼
Taxes, remuneration and social security45€6.41M€8.81M▲
Taxes450/3€1.83M€3.79M▲
Remuneration and social security454/9€4.58M€5.02M▲
Other amounts payable47/48€1.08M€1.15M▲
Accrued charges and deferred income492/3€3.33M€4.62M▲
Income statement
Code20232024
Operating income70/76A€78.29M€84.92M▲
Turnover70€68.53M€73.68M▲
Change in stocks of work in progress, finished goods and contracts in progress71€135k€886k▲
Own construction capitalised72€380k€1.20M▲
Other operating income74€9.22M€9.16M▼
Non-recurring operating income76A€14k€0▼
Operating charges60/66A€76.55M€82.61M▲
Goods for resale, raw materials and consumables60€42.96M€47.56M▲
Purchases600/8€42.18M€47.95M▲
Change in stocks: decrease (increase)609€781k€-387k▼
Services and other goods61€8.84M€8.87M▲
Remuneration, social security and pensions62€23.30M€24.38M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€373k€512k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-130k€234k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€920k€158k▼
Other operating charges640/8€291k€390k▲
Non-recurring operating charges66A-€500k
Operating profit (loss)9901€1.73M€2.31M▲
Financial income75/76B€239k€202k▼
Recurring financial income75€239k€202k▼
Income from current assets751€231k€182k▼
Other financial income752/9€7k€20k▲
Financial charges65/66B€186k€229k▲
Recurring financial charges65€186k€229k▲
Debt charges650€106k€137k▲
Other financial charges652/9€80k€91k▲
Profit (loss) for the period before taxes9903€1.79M€2.28M▲
Income taxes67/77€729k€976k▲
Taxes670/3€729k€1.01M▲
Tax adjustments and reversals of tax provisions77-€37k
Profit (loss) for the period9904€1.06M€1.31M▲
Profit (loss) for the period to be appropriated9905€1.06M€1.31M▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.09M€2.31M▲
Profit (loss) brought forward from the previous period14P€1.03M€1.01M▼
Transfer to equity691/2€53k€66k▲
To the legal reserve6920€53k€66k▲
Profit to be distributed694/7€1.03M€1.01M▼
Return on contributions (dividend)694€1.03M€1.01M▼
Social balance
Average headcount (FTE)9087174.5171.3▼
The notes to these accounts (66 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €2.60M ▲42.6%
Operating result €3.88M, net result €2.60M, both a record.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €698k ▼47.3%
Net result drops to €698k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
17-02
State Gazette act
Business line transfer
2015
28-12
State Gazette act
Demerger · Accounting effect
Corporate purpose · Purchase price minimum · Louis-Philippe Marcelis
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
34 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, Jette · 2 establishment units since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Burgemeester Etienne Demunterl. 11090 JetteGround area
1,232 m²
Building footprint
794 m²
Volume, LiDAR
30,861 m³
Parcel 21805E0447/00N003, Brussels · tallest building 55.8 m, ±11 floors. Linked by address, not a title deed.
2 establishment units
Burgemeester Etienne Demunterl. 1, 1090 Jette
since 20152.245.151.013
European Liaison Office
since 20162.252.289.520
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0447/00N003 | Brussels | 1,232 m² | 1 · 793 m² | 55.8 m · 11 fl. |
Linked by address, not proof of ownership
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Structure & network
Acquisitions and mergers
1 transactionReceived a contribution from:PHILIPS BELGIUM
Public money · subsidies and aid
European Union, budget
2025 · 1 entry · 264,070 EUR in total| Year | Entries | awarded |
|---|---|---|
| 2025 | 1 | 264,070 EUR |
Projects
101252582 - PRECISEONCO - THE NEXT LEAP IN CANCER CARE: COMBINING MULTI-MODALITY AND SPECTRAL IMAGING, ADVANCED THERAPIES, ROBOTICS AND AI TO ENABLE STANDARDIZED, PRECISE INTERVENTIONAL ONCOLOGY TREATMENTS FOR CANCER PATIENTS
European research
1 project · 264,063 EUR EU contributionProgrammes
HORIZON
Projects
The next leap in cancer care: combining multi-modality and spectral imaging, advanced therapies, robotics and AI to enable standardized, precise interventional oncology treatments for cancer patients
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Of 1,070 companies in sector 47741 we hold annual accounts for 644. 58 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-06-2015
Fiscal year end31-12
Activities, NACEBEL
46460Wholesale of pharmaceutical and medical goods
47740Retail trade
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
47750Retail sale of cosmetics and toilet articles
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.