Equity
-€14,558
Debts exceed assets in financial year 2025.
Phinn
Lifetime
12 annual accounts with figures on one time axispeak €321,050 (2019)
€228,467▲ 18.2%
lowest -€39,166 (2021)
-€8,671▲ €5,840
peak €76,225 (2018)
-€14,558▼ €8,671
€899,589▲ 12.9%
peak 5 FTE (2019)
2.6 FTE▲ 13.0%
Board2 names since 2020
2 directorsAnn-Gaëlle Ceulemans and 1 other
Documentsfilings and deeds
05-01-202626 days before the deadline
2025abbreviated format
Gross margin from €193,282 to €228,467Loss of €8,671Staff from 2.3 FTE to 2.6 FTEEquity from -€5,887 to -€14,558Investments €12,469
Key points
from the 2025 annual accountsLosses
-€40,132 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Debts
€899,589 102% of the balance sheet
Financial debts 18%Suppliers 8%Taxes and wages 3%Other 72%
Of this, €739,441 falls due within a year.
Investments
€12,469 2.8 × depreciation
Green is investment, beige is depreciation.
Staff
2.6 FTE from 5 in 2019
Between 2019 and 2025, 48% of the full-time equivalents disappeared.
Position in the sector
-€14,558
Less equity than 89% of companies in retail trade. Sector median €235,725 · 12,872 companies.
Checked score
53
Fair
Financially stronger than 14% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,277 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%lowest value
01-2025: 0.7%▲ +0.3 percentage points vs 12-2024
02-2025: 0.9%▲ +0.2 percentage points vs 01-2025
03-2025: 1.2%▲ +0.3 percentage points vs 02-2025
04-2025: 1.4%▲ +0.2 percentage points vs 03-2025
05-2025: 1.4%● unchanged vs 04-2025
06-2025: 1.4%● unchanged vs 05-2025
07-2025: 1.4%● unchanged vs 06-2025
08-2025: 1.4%● unchanged vs 07-2025
09-2025: 1.4%● unchanged vs 08-2025
10-2025: 1.4%● unchanged vs 09-2025
11-2025: 1.4%● unchanged vs 10-2025
12-2025: 1.4%● unchanged vs 11-2025
01-2026: 1.6%▲ +0.2 percentage points vs 12-2025
02-2026: 1.6%● unchanged vs 01-2026
03-2026: 1.6%● unchanged vs 02-2026
04-2026: 1.6%● unchanged vs 03-2026
05-2026: 1.6%● unchanged vs 04-2026
06-2026: 1.7%▲ +0.1 percentage points vs 05-2026
07-2026: 1.7%● unchanged vs 06-2026
08-2026: 1.7%● unchanged vs 07-2026
09-2026: 1.7%● unchanged vs 08-2026
10-2026: 1.7%● unchanged vs 09-2026highest value
11-2026: 1.6%▼ -0.1 percentage points vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€14,558
Sector: Retail trade (NACE 47)
lowers risk
Founded in 2012
Size: 2.6 FTE, total assets €885,031
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 47, micro). It does better than 18% of them on solvency, 11% on liquidity, 23% on profitability and 4% on growth.
The bankruptcy probability was computed on 10-11-2026 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 30-06-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% 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, 2,333 companies had the same profile as Phinn has now. Each dot stands for 6 companies, two years later.
90.6%
were still trading
5.8%
stopped another way
2.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Phinn itself: 1.6% within 12 months.
Test of the method
The method was tested on the 497,448 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 2,333 companies, not a prediction for Phinn. 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 0.64 (0.71 in 2024), below 1. Short-term debt is 83.5% and cash 4.6% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
192122232425
2019 to 2025 · latest year -€14,558
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 days early
2024
31 days late
2023
48 days early
2022
49 days early
2021
48 days early
2019
24 days early
2018
45 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 30 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 14 December (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end11-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0846340341
Change of role: Ann-Gaëlle Ceulemans, from statutory manager to statutory director
Appointment: Wim Achtergael (director) · Gazette deed
Incorporation
published on 14-06-2012 · Gazette deed
First establishment
Kerkstraat 97, Buggenhout
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Phinn Buggenhout | €0.9m | €228,467 | -1.6% | 2.6 |
| S&H Pharma Ghent | €0.8m | €256,683 | 41.9% | 2.3 |
| PHARMACIE FRANQUIN VERONIQUE Florennes | €0.7m | €224,221 | 24.6% | 2.4 |
| PHARMACIE BOMANS-DENEF Gembloux | €0.8m | €226,105 | 41.3% | 2 |
| PHARMACIE SMITS ZONING NORD Wavre | €0.8m | €266,989 | -89.3% | 3 |
| PHARMACIE DU BOCQ Yvoir | €1.0m | €295,489 | 11.6% | 2.4 |
| Merelbeke Farma Merelbeke-Melle | €0.7m | €212,551 | 24.0% | 2.2 |
These companies have the same main activity as Phinn: retail sale of pharmaceutical products (NACE 47730). They are comparable in size and age: total assets between €670,000 and €1m, founded between 2010 and 2011.
Official details
Source: KBO- Status
- Active since 05-06-2012Normal situation
- Activity
- Retail sale of pharmaceutical productsNACE 47730
- Establishment unit
- 2.210.169.2499255 Buggenhout, since 30-05-2012
- Financial year end
- 30 June
- Peppol
- Reachable since 04-12-2025
Annual accounts to 30-06-2025
- ≈ €1.1mestimated
- €885,031▲ 11.9%
- Employeeson 30-06-2025
- 3=
- Filing
- Filed on 05-01-2026, 26 days before the end of the filing period
Insights on Phinn
Phinn files the abbreviated format. That format states no turnover. The gross margin rose from €37,079 in 2013 to €228,467 in 2025.
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 Phinn
- What is the company number of Phinn?
- The company number of Phinn is 0846.340.341. The VAT number is the same number with BE in front: BE 0846.340.341.
- Where is Phinn based?
- The registered office is at Kerkstraat 97, 9255 Buggenhout.Company details
- What does Phinn do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of Phinn?
- Phinn is a private limited company (BV).
- When was Phinn founded?
- Phinn was founded on 05-06-2012.
- Is Phinn still active?
- Yes, Phinn is an active enterprise in the KBO register.
- How many employees does Phinn have?
- Phinn had an average of 2.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of Phinn?
- The turnover in financial year 2025 is ≈ €1.1m. This figure is estimated from the gross margin of €228,467 and 51 comparable companies (NACE 477). It probably lies between €710,000 and €2.1m.
- Is Phinn profitable?
- In financial year 2025, Phinn made a loss of €8,671.
- Where can I find the annual accounts of Phinn?
- Phinn filed 12 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Phinn due?
- Phinn must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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