Equity
€2.0m from €12.3m in 2022
Equity fell by 84% in 3 years.
RECORDATI
Lifetime
20 annual accounts with figures on one time axis, 21 filings since 2005peak €42.5m (2025)
€42.5m▲ 22.3%
lowest -€344,803 (2007)
€1.7m▲ 2.7%
peak €12.3m (2022)
€2.0m▲ 684%
€18.8m▲ 21.9%
peak 21.3 FTE (2025)
21.3 FTE▲ 16.4%
Board10 names since 2018
2 directorsLuigi Longinotti and 1 other
Owners8 names in the annual accountsall names
100%Recordati Rare Diseases SARL and 1 other
Documentsfilings and deeds
14-07-202617 days before the deadline
2025financial year
Turnover from €34.8m to €42.5mStaff from 18.3 FTE to 21.3 FTEResignation: Andrea Rizzi (director) 25-06Resignation: Benoît Slavicek (director) 06-01Equity from €250,163 to €2.0mDebts from €15.5m to €18.8m
Key points
from the 2025 annual accountsGrowth
13 years
13 years of growth in a row. Turnover 2025: €42.5m.
Debts
€18.8m 91% of the balance sheet
Suppliers 87%Taxes and wages 9%Other 4%
Of this, €18.1m falls due within a year.
Investments
€175,075 2.6 × depreciation
Green is investment, beige is depreciation. Machinery stands 77.3% higher than in 2024.
Payment terms
180 days to suppliers
RECORDATI pays its suppliers 72 days later than in 2024. Customers pay 14 days later.
Position in the sector
9.4%
Lower solvency than 87% of companies in wholesale trade. Sector median 45.2% · 6,192 companies.
Checked score
87
Excellent
Financially stronger than 47% of small companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 4,374 companies (NACE 46, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.4%▲ +0.1 percentage points vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.5%▲ +0.1 percentage points vs 06-2025
08-2025: 0.9%▲ +0.4 percentage points vs 07-2025
09-2025: 1.1%▲ +0.2 percentage points vs 08-2025highest value
10-2025: 0.4%▼ -0.7 percentage points vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: 0.2%● unchanged vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Equity €2.0m (9.4% of total assets)
1 of the last 3 accounts late
lowers risk
Size: turnover €42.5m, 21.3 FTE, total assets €20.8m
Founded in 2004
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 46, small). It does better than 12% of them on solvency, 28% on liquidity, 54% on profitability and 95% on growth.
The bankruptcy probability was computed on 08-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 496 companies had the same profile as RECORDATI has now. Each dot is one company, two years later.
95.6%
were still trading
3.2%
stopped another way
1.2%
went bankrupt
That fits the bankruptcy probability of RECORDATI itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 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 496 companies, not a prediction for RECORDATI. 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
Credit of up to €170,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.13 (1.02 in 2024), below the usual 1.5. Short-term debt is 87% and cash 21.5% of total assets. 90.6% of the assets are financed with debt and provisions.
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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 · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 6192 sector peers (2025).
NBB · sector comparisonPosition among 6192 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 days early
2024
46 days late
2023
23 days early
2022
18 days early
2021
31 days early
2020
16 days early
2019
22 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 12 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 13 July (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
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Recordati Rare Diseases SARL 100%annual accounts 2025
- RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A. IN BREVE RECORDATI S.P.A. consolidatedLEI register
- Recordati Industrial Chimica E Farmaceutica S.p.A. consolidatesannual accounts 2025
Recent changes
1 director appointed, 1 resignation, 1 statutory auditor reappointed
Resignation: Luigi Longinotti · Appointment: Juan Vila Alvarez · Reappointment: EY Reviseurs d'Entreprises (statutory auditor) · General meeting of 30-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0865786069
Resignation: Andrea Rizzi (director)
Appointment: Lodewijk Bastiaan Sibeijn (director) · Director discharge: Andrea Rizzi · General meeting of 28-05-2025 · Gazette deed
Resignation: Benoît Slavicek (director)
Appointment: Andrea Rizzi (director) · Director discharge: Benoît Slavicek · General meeting of 17-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| RECORDATI Jette | €42.5m | 5.3% | 9.4% | 21.3 |
| Diasorin Anderlecht | €32.0m | 10.5% | 15.6% | 23.9 |
| THEA PHARMA Ghent | €30.0m | 4.8% | 52.6% | 25.1 |
| FISHER SCIENTIFIC Saint-Josse-ten-Noode | €50.8m | 3.7% | 58.6% | 10.2 |
| PIERRE FABRE SANTE BENELUX Anderlecht | €48.9m | 4.0% | 12.6% | 34.7 |
| NOBEL BIOCARE BELGIUM Mechelen | €25.9m | 3.2% | 47.0% | 23.2 |
| BIOTRONIK BELGIUM Vilvoorde | €39.5m | 4.1% | 14.5% | 32 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as RECORDATI: wholesale of pharmaceutical and medical goods (NACE 46460). They are comparable in size and age: total assets between €14m and €49m, founded between 1996 and 2005.
Official details
Source: KBO- Status
- Active since 15-06-2004Normal situation
- Registered office
- 81 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Wholesale of pharmaceutical and medical goodsNACE 46460
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.142.290.5301090 Jette, since 15-06-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 01-01-2026
Annual accounts 2025
- €20.8m▲ 32.4%
- Employeeson 31-12-2025
- 22▲ 10.0%
- Filing
- Filed on 14-07-2026, 17 days before the end of the filing period
Insights on RECORDATI
RECORDATI has existed since 2004. Turnover grew from €2.6m in 2006 to €42.5m in 2025 and staff from 3.6 to 21.3 full-time equivalents.
Turnover has grown every year since 2012. Solvency rose in 2025 from 1.6% to 9.4% because of the retained profit.
Recordati Rare Diseases SARL holds all the shares.
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 RECORDATI
- What is the company number of RECORDATI?
- The company number of RECORDATI is 0865.786.069. The VAT number is the same number with BE in front: BE 0865.786.069.
- Where is RECORDATI based?
- The registered office is at Burgemeester Etienne Demunterl. 5, 1090 Jette.Company details
- What does RECORDATI do?
- According to the KBO register, the main activity is wholesale of pharmaceutical and medical goods (NACE 46460).
- What is the legal form of RECORDATI?
- RECORDATI is a private limited company (BV).
- When was RECORDATI founded?
- RECORDATI was founded on 15-06-2004.
- Is RECORDATI still active?
- Yes, RECORDATI is an active enterprise in the KBO register.
- How many employees does RECORDATI have?
- RECORDATI had an average of 21.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does RECORDATI fall under?
- In its 2025 annual accounts, RECORDATI states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of RECORDATI?
- The turnover of RECORDATI was €42.5m in financial year 2025, according to the filed annual accounts.
- Is RECORDATI profitable?
- In financial year 2025, RECORDATI made a profit of €1.7m.
- Where can I find the annual accounts of RECORDATI?
- RECORDATI filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of RECORDATI due?
- RECORDATI must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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