Equity
€1.4m ▲ 16.5%
REDPHARMA paid out €2.0m in dividends. That is 91% of the 2025 profit.
REDPHARMA
Lifetime
15 annual accounts with figures on one time axispeak €5.9m (2024)
€5.5m▼ 5.5%
lowest -€92,203 (2012)
€2.2m▲ 46.8%
peak €2.4m (2021)
€1.4m▲ 16.5%
€5.1m▲ 9.9%
peak 25.2 FTE (2023)
24.1 FTE▲ 3.4%
Board17 names since 2010all names
3 directorsClotilde Ghysselinckx and 2 others
Owners3 names in the annual accounts
100%IQVIA Solutions Belgium and 1 other
Documentsfilings and deeds
13-07-202618 days before the deadline
2025financial year
Result from €1.5m to €2.2mDividend €2.0mEquity from €1.2m to €1.4mCash from €3.3m to €1.1m
Key points
from the 2025 annual accountsResult
€2.2m ▲ 46.8%
The result rose in 2025 from €1.5m to €2.2m.
Debts
€5.1m 79% of the balance sheet
Suppliers 22%Taxes and wages 22%Other 56%
Of this, €4.9m falls due within a year.
Staff
26 employees on 31-12-2025
In 2025, 9 people joined and 5 left.
Filings
15 annual accounts since 2011
Six of the last ten came late. The 2018 accounts came latest: 153 days after the end of the period.
Position in the sector
€2.2m
Higher net result than 94% of companies in advertising and market research. Sector median €33,699 · 847 companies.
Checked score
94
Excellent
Financially stronger than 54% of small companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 722 companies (NACE 73, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026lowest value
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
lowers risk
Size: 24.1 FTE, total assets €6.5m
Figures for financial year 2025 (filed on 13-07-2026)
Founded in 2010
Profit of €2.2m (financial year 2025)
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 73, small). It does better than 24% of them on solvency, 20% on liquidity, 98% on profitability and 73% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 2,609 companies had the same profile as REDPHARMA has now. Each dot stands for 7 companies, two years later.
96.8%
were still trading
2.1%
stopped another way
1.0%
went bankrupt
That fits the bankruptcy probability of REDPHARMA itself: 0.1% 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 2,609 companies, not a prediction for REDPHARMA. 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 €120,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.31 (1.25 in 2024), below the usual 1.5. Short-term debt is 74.9% and cash 16.9% of total assets. 79.1% 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
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 days early
2024
8 days early
2023
16 days early
2022
45 days late
2021
48 days early
2020
2 days late
2019
74 days late
← 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 4 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% 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 16 July (4 of the last 5 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- IQVIA Solutions Belgium 100%score 83equity €17.2m (2025) · annual accounts 2025
- IQVIA Holding INC. consolidatesannual accounts 2025
Recent changes
Permanent representative: Peter Lenoir
Reappointment: Forvis Mazars Bedrijfsrevisoren BV (statutory auditor) · General meeting of 09-07-2025 · Gazette deed
Merger: REDPHARMA takes over MTOUCH
General meeting of 15-03-2024 · Gazette deed
Resignation: Frank Swaelens (director)
Appointment: Emmanuel Vanderhaegen (director) · Director discharge: Frank Swaelens · General meeting of 01-02-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| REDPHARMA Zaventem | €6.5m | €5.5m | 20.9% | 24.1 |
| Zenchef Belgium Machelen (Brab.) | €5.5m | €2.3m | 17.2% | 16.6 |
| dgtgroup BE Wommelgem | €16.0m | €3.8m | 14.5% | 24.4 |
| Azerion Belgium Auderghem | €15.4m | €2.4m | -9.2% | 21.8 |
| BRIGHTBOARD Asse | €3.3m | €1.4m | 3.3% | 9.3 |
| PUBLIROUTE Asse | €17.2m | €3.8m | 68.6% | 23 |
| AMPHION 2.0 Vilvoorde | €1.8m | €1.1m | 4.4% | 18.1 |
These companies have the same main activity as REDPHARMA: media representation (NACE 73120). They are comparable in size and age: total assets between €1.8m and €17m, founded between 1990 and 2013.
Official details
Source: KBO- Status
- Active since 09-04-2010Normal situation
- Registered office
- 13 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Media representationNACE 73120
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.221.860.4221930 Zaventem, since 09-04-2010
- 2.257.771.4064280 Hannut, since 01-09-2016
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- ≈ €9.5mestimated
- €6.5m▲ 11.2%
- Employeeson 31-12-2025
- 26▲ 18.2%
- Filing
- Filed on 13-07-2026, 18 days before the end of the filing period
Insights on REDPHARMA
REDPHARMA has existed since 2010. In 2013 the gross margin rose from €9,906 to €204,347 and staff from 1 to 1.6 full-time equivalents.
IQVIA Solutions Belgium holds all the shares. In August 2022, four directors stepped down.
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 REDPHARMA
- What is the company number of REDPHARMA?
- The company number of REDPHARMA is 0824.819.011. The VAT number is the same number with BE in front: BE 0824.819.011.
- Where is REDPHARMA based?
- The registered office is at Da Vincilaan 7, 1930 Zaventem.Company details
- What does REDPHARMA do?
- According to the KBO register, the main activity is media representation (NACE 73120).
- What is the legal form of REDPHARMA?
- REDPHARMA is a public limited company (NV).
- When was REDPHARMA founded?
- REDPHARMA was founded on 09-04-2010.
- Is REDPHARMA still active?
- Yes, REDPHARMA is an active enterprise in the KBO register.
- How many employees does REDPHARMA have?
- REDPHARMA had an average of 24.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does REDPHARMA fall under?
- In its 2025 annual accounts, REDPHARMA states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of REDPHARMA?
- The turnover in financial year 2025 is ≈ €9.5m. This figure is estimated from the gross margin of €5.5m and 1,585 comparable companies of the same size. It probably lies between €6.4m and €16.0m. It is a rough estimate. In financial year 2023 turnover was €9.2m.
- Is REDPHARMA profitable?
- In financial year 2025, REDPHARMA made a profit of €2.2m.
- Where can I find the annual accounts of REDPHARMA?
- REDPHARMA filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of REDPHARMA due?
- REDPHARMA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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