PROXY PHARMA
ActiveSummary
PROXY PHARMA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €29,362 and a net result of €8,200. Equity is shrinking by ~7% per year across the filed fiscal years. Its solvency ranks better than 16% of 6550 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▼-11
Solvency29▼-7
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.99 against 1.11 in 2023; short-term debt: 46.7% and cash: 24.8% of total assets), and 96.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
3.7%
Return on assets
1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 6550 sector peers (2024).
NBB · sector comparisonPosition among 6550 sector peers
Solvency
better than 16%
← weakest
strongest →
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 01-07-2025, 30 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
33 d early
2022
31 d early
2021
24 d early
2020
65 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 32 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€8,200▼ 85.7%
2023 · €57,355
Working capital
-€1,972
2023 · €36,847
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€88,167▲ 138%€76,160▼ 13.6%€107,943▲ 41.7%€83,924▼ 22.3%€30,442▼ 63.7%
Net result€61,409above the sector's middle half▲ 233%€53,194within the sector's middle half▼ 13.4%€79,265within the sector's middle half▲ 49.0%€57,355within the sector's middle half▼ 27.6%€8,200within the sector's middle half▼ 85.7%
Equity€119,148above the sector's middle half▲ 86.9%€21,543below the sector's middle half▼ 81.9%€39,807below the sector's middle half▲ 84.8%€71,163within the sector's middle half▲ 78.8%€29,362below the sector's middle half▼ 58.7%
Total assets€663,357above the sector's middle half▲ 5.5%€658,171within the sector's middle half▼ 0.8%€754,169within the sector's middle half▲ 14.6%€627,848within the sector's middle half▼ 16.7%€796,376within the sector's middle half▲ 26.8%
Debt€544,209▼ 3.7%€636,629▲ 17.0%€714,361▲ 12.2%€556,685▼ 22.1%€767,014▲ 37.8%
Working capital€69,451within the sector's middle half▲ 159%-€23,101below the sector's middle half-€11,658below the sector's middle half▲ 49.5%€36,847within the sector's middle half-€1,972within the sector's middle half
Solvency18.0%within the sector's middle half▲ 7.8pp3.3%below the sector's middle half▼ 14.7pp5.3%below the sector's middle half▲ 2.0pp11.3%below the sector's middle half▲ 6.1pp3.7%below the sector's middle half▼ 7.6pp
Current ratio1.29within the sector's middle half▲ 0.170.94below the sector's middle half▼ 0.360.97below the sector's middle half▲ 0.041.11within the sector's middle half▲ 0.140.99within the sector's middle half▼ 0.12
Return on assets (ROA)9.3%within the sector's middle half▲ 6.3pp8.1%within the sector's middle half▼ 1.2pp10.5%within the sector's middle half▲ 2.4pp9.1%within the sector's middle half▼ 1.4pp1.0%within the sector's middle half▼ 8.1pp
Staff (FTE)1.4within the sector's middle half▼ 6.7%1.2below the sector's middle half▼ 14.3%1.4below the sector's middle half▲ 16.7%1.3below the sector's middle half▼ 7.1%1.7below the sector's middle half▲ 30.8%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 64% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €796,376
Fixed assets
€426,103 ▲ 65.4%
Current assets
€370,274 =
Equity and liabilities €796,376
Equity
€29,362 ▼ 58.7%
Debt
€767,014 ▲ 37.8%
Debt's share of the balance-sheet total rises from 88.7% to 96.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€113,360▼
2023 · €131,164
Cash flow
€91,118▼
2023 · €104,596
Quick ratio
0.70▼
2023 · 0.74
Debt to equity
26.12▲
2023 · 7.82
ROE
27.9%▼
2023 · 80.6%
Interest coverage
5.93▼
2023 · 11.16
Debt ≤ 1 year
€372,246▲
2023 · €333,314
Debt > 1 year
€394,042▲
2023 · €223,372
Income taxes
€3,236▼
2023 · €14,818
Staff costs
€60,183▲
2023 · €54,839
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,250 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.4%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,662 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% | 1.7% |
| 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 75% 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 1,250 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €39,143 | €51,219 | €54,839 | €60,183 | ▲ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,895 | €42,779 | €46,380 | €47,241 | €82,918 | ▲ 75.5% |
| Other operating charges640/8 | - | €0 | - | - | €0 | - |
| Non-recurring operating charges66A | - | - | - | €3,042 | - | - |
| Gross operating margin9900 | €168,466 | €158,082 | €205,543 | €189,045 | €173,544 | ▼ 8.2% |
| Operating profit (loss)9901 | €88,167 | €76,160 | €107,943 | €83,924 | €30,442 | ▼ 63.7% |
| Financial income75/76B | - | - | - | - | €94 | - |
| Recurring financial income75 | - | - | - | - | €94 | - |
| Financial charges65/66B | - | €9,101 | €9,558 | €11,750 | €19,101 | ▲ 62.6% |
| Recurring financial charges65 | €11,312 | €9,101 | €9,558 | €11,750 | €19,101 | ▲ 62.6% |
| Profit (loss) for the period before taxes9903 | €76,855 | €67,059 | €98,385 | €72,173 | €11,436 | ▼ 84.2% |
| Income taxes67/77 | €15,446 | €13,865 | €19,121 | €14,818 | €3,236 | ▼ 78.2% |
| Profit (loss) for the period9904 | €61,409 | €53,194 | €79,265 | €57,355 | €8,200 | ▼ 85.7% |
| Profit (loss) for the period to be appropriated9905 | €61,409 | €53,194 | €79,265 | €57,355 | €8,200 | ▼ 85.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €663,357 | €658,171 | €754,169 | €627,848 | €796,376 | ▲ 26.8% |
| Fixed assets21/28 | €356,119 | €315,710 | €304,255 | €257,688 | €426,103 | ▲ 65.4% |
| Intangible fixed assets21 | €58,488 | €49,488 | €40,488 | €31,488 | €22,488 | ▼ 28.6% |
| Tangible fixed assets22/27 | €297,631 | €266,223 | €263,767 | €226,200 | €403,615 | ▲ 78.4% |
| Land and buildings22 | - | €140,791 | €131,792 | €122,794 | €317,514 | ▲ 159% |
| Plant, machinery and equipment23 | - | €17,344 | €31,764 | €31,507 | €26,393 | ▼ 16.2% |
| Furniture and vehicles24 | - | €108,088 | €100,211 | €71,898 | €59,709 | ▼ 17.0% |
| Current assets29/58 | €307,238 | €342,461 | €449,914 | €370,161 | €370,274 | = |
| Stocks and contracts in progress3 | €110,206 | €100,166 | €114,473 | €124,085 | €111,022 | ▼ 10.5% |
| Stocks30/36 | - | €100,166 | €114,473 | €124,085 | €111,022 | ▼ 10.5% |
| Amounts receivable within one year40/41 | €35,994 | €40,861 | €79,884 | €49,436 | €61,666 | ▲ 24.7% |
| Trade receivables40 | - | €40,861 | €74,037 | €47,254 | €53,902 | ▲ 14.1% |
| Other amounts receivable41 | - | - | €5,848 | €2,182 | €7,764 | ▲ 256% |
| Cash at bank and in hand54/58 | €158,121 | €196,432 | €253,832 | €193,788 | €197,586 | ▲ 2.0% |
| Deferred charges and accrued income490/1 | - | €5,002 | €1,725 | €2,852 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €663,357 | €658,171 | €754,169 | €627,848 | €796,376 | ▲ 26.8% |
| Equity10/15 | €119,148 | €21,543 | €39,807 | €71,163 | €29,362 | ▼ 58.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €104,888 | €1,083 | €19,347 | €50,703 | €8,902 | ▼ 82.4% |
| Amounts payable17/49 | €544,209 | €636,629 | €714,361 | €556,685 | €767,014 | ▲ 37.8% |
| Amounts payable after more than one year17 | €306,421 | €271,066 | €252,790 | €223,372 | €394,042 | ▲ 76.4% |
| Financial debts170/4 | - | €271,066 | €252,790 | €223,372 | €394,042 | ▲ 76.4% |
| Amounts payable within one year42/48 | €237,788 | €365,563 | €461,572 | €333,314 | €372,246 | ▲ 11.7% |
| Current portion of amounts payable after more than one year42 | - | €35,355 | €30,677 | €29,418 | €38,318 | ▲ 30.3% |
| Trade debts44 | €140,523 | €135,446 | €205,903 | €144,886 | €166,881 | ▲ 15.2% |
| Suppliers440/4 | - | €135,446 | €205,903 | €144,886 | €166,881 | ▲ 15.2% |
| Taxes, remuneration and social security45 | - | €8,573 | €7,706 | €13,548 | €11,024 | ▼ 18.6% |
| Taxes450/3 | - | €4,062 | €1,182 | €7,400 | €3,399 | ▼ 54.1% |
| Remuneration and social security454/9 | - | €4,511 | €6,524 | €6,147 | €7,625 | ▲ 24.0% |
| Other amounts payable47/48 | - | €186,189 | €217,287 | €145,462 | €156,023 | ▲ 7.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €726 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,409 | €53,194 | €79,265 | €57,355 | €8,200 | ▼ 85.7% |
| + Depreciation and write-downs630 | €43,895 | €42,779 | €46,380 | €47,241 | €82,918 | ▲ 75.5% |
| Operating cash flow (approximation) | €105,305 | €95,973 | €125,645 | €104,596 | €91,118 | ▼ 12.9% |
| Investment in fixed assets (approximation) | - | -€2,370 | -€34,925 | -€673 | -€251,333 | ▼ 37,237% |
| Change in cash | - | €38,312 | €57,399 | -€60,044 | €3,798 | ▲ 106% |
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
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €8,200 ▼85.7%
Net result drops to €8,200, the lowest in the series.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
22-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €79,265 ▲49%
Operating result €107,943, net result €79,265, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
27-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100,000Eq €119,148 ▲86.9%
3 profitable years in a row build equity to €119,148.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 41 days late
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Beauvechain · 1 establishment unit since 2017
Ground area
2,631 m²
Building footprint
1,590 m²
Volume, LiDAR
13,987 m³
2 parcels, Brussels, Wallonia · tallest building 20.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PROXY PHARMA
since 20172.264.578.826
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21572B0086/00V000 | Brussels | 1,444 m² | 1 · 1,440 m² | 20.8 m · 2 fl. |
| 25103E0629/00L000 | Wallonia | 1,188 m² | 1 · 150 m² | 8.4 m · 2 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.
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 1,981 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
Founded07-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0673992721
Also
9925:BE0673992721
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.