RING PHARMA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 25 filings
Turnover
≈ €120,000
Estimated: probably between €65,000 and €230,000
Total assets
€1.6m▼ 26.5%
2024 · €2.1m
Net result
-€104,944
2024 · €5,037
Working capital
€88,313▼ 87.3%
2024 · €697,819
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€3,463
2025
20192025
Net result
-€104,944
2025
lowest quarter of the sector
20192025
Equity
-€2,412
2025
lowest quarter of the sector
20192025
Total assets
€1.6m
▼ 26.5%
2025
highest quarter of the sector
20192025
Debt
€1.6m
▼ 22.7%
2025
20192025
Working capital
€88,313
▼ 87.3%
2025
middle half of the sector
20192025
Solvency
-0.2%
▼ 5.0pp
2025
lowest quarter of the sector
20192025
Current ratio
5.60
▼ 35.89
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-6.7%
▼ 6.9pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.08m-€0.05m▼ 38.0%€0.06m▲ 24.3%€0.04m▼ 37.9%-€0.003m€0.02m-€0.003m
Net result-€0.03m--€0.05mbelow the sector's middle half▼ 98.3%-€0.02mbelow the sector's middle half▲ 65.8%-€0.05mbelow the sector's middle half▼ 211%-€0.1mbelow the sector's middle half▼ 85.8%€0.005mwithin the sector's middle half-€0.1mbelow the sector's middle half
Equity€0.3m-€0.3mabove the sector's middle half▼ 15.9%€0.3mabove the sector's middle half▼ 6.5%€0.2mabove the sector's middle half▼ 21.4%€0.1mwithin the sector's middle half▼ 50.7%€0.1mwithin the sector's middle half▲ 5.2%-€0.002mbelow the sector's middle half
Total assets€2.4m-€2.6mabove the sector's middle half▲ 7.0%€2.5mabove the sector's middle half▼ 4.0%€2.8mabove the sector's middle half▲ 12.8%€2.4mabove the sector's middle half▼ 13.4%€2.1mabove the sector's middle half▼ 11.6%€1.6mabove the sector's middle half▼ 26.5%
Debt€2.1m-€2.3m▲ 10.6%€2.2m▼ 3.7%€2.6m▲ 16.7%€2.3m▼ 10.5%€2.0m▼ 12.3%€1.6m▼ 22.7%
Working capital€0.7m-€0.8mabove the sector's middle half▲ 26.2%€1.0mabove the sector's middle half▲ 18.3%€1.2mabove the sector's middle half▲ 27.7%€1.0mabove the sector's middle half▼ 23.1%€0.7mabove the sector's middle half▼ 27.3%€0.09mwithin the sector's middle half▼ 87.3%
Solvency13.3%-10.4%below the sector's middle half▼ 2.8pp10.2%below the sector's middle half▼ 0.3pp7.1%below the sector's middle half▼ 3.1pp4.0%below the sector's middle half▼ 3.1pp4.8%below the sector's middle half▲ 0.8pp-0.2%below the sector's middle half▼ 5.0pp
Current ratio77.71above the sector's middle half17.22above the sector's middle half▼ 60.4911.09above the sector's middle half▼ 6.1318.23above the sector's middle half▲ 7.1441.49above the sector's middle half▲ 23.265.60above the sector's middle half▼ 35.89
Return on assets (ROA)-1.1%--2.0%below the sector's middle half▼ 0.9pp-0.7%below the sector's middle half▲ 1.3pp-1.9%below the sector's middle half▼ 1.2pp-4.1%below the sector's middle half▼ 2.2pp0.2%within the sector's middle half▲ 4.4pp-6.7%below the sector's middle half▼ 6.9pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €3,463, after a profit of €16,460 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.5m ▲ 2.9%
Current assets
€107,506 ▼ 85.0%
Equity and liabilities
Equity-€2,412
Debt€1.6m
Equity is negative. Debt (€1.6m) exceeds the balance-sheet total (€1.6m).
Key figures and ratios
EBITDA
€13,357▼
2024 · €33,280
Cash flow
-€88,124▼
2024 · €21,856
Interest coverage
0.12▼
2024 · 0.28
Debt ≤ 1 year
€19,194▲
2024 · €17,233
Debt > 1 year
€1.6m▼
2024 · €2.0m
A ratio outside any meaningful range has been withheld (balance sheet total €1.6m, equity -€2,412).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €38,026 | €57,808 |
| Depreciation and write-downs of the year | €24,677 | €16,820 | €16,820 | €16,820 | €16,820 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,602 | €25,602 | €24,677 | €16,820 | €16,820 | €16,820 | €16,820 | = |
| Other operating charges640/8 | - | - | €12,490 | €6,932 | €12,658 | €4,651 | €9,072 | ▲ 95.1% |
| Gross operating margin9900 | €116,426 | €86,027 | €100,165 | €62,887 | €26,684 | €37,930 | €22,429 | ▼ 40.9% |
| Operating profit (loss)9901 | €81,739 | €50,700 | €62,999 | €39,135 | -€2,794 | €16,460 | -€3,463 | - |
| Financial income75/76B | - | - | €47,812 | €25,747 | €20,823 | €105,920 | €13,500 | ▼ 87.3% |
| Recurring financial income75 | €86 | €475 | €47,812 | €25,334 | €20,823 | €105,920 | €13,500 | ▼ 87.3% |
| Non-recurring financial income76B | - | - | - | €413 | - | - | - | - |
| Financial charges65/66B | - | - | €128,172 | €118,817 | €118,258 | €117,344 | €114,981 | ▼ 2.0% |
| Recurring financial charges65 | €107,416 | €101,917 | €128,172 | €118,817 | €118,258 | €117,344 | €114,981 | ▼ 2.0% |
| Profit (loss) for the period before taxes9903 | -€25,592 | -€50,741 | -€17,361 | -€53,935 | -€100,228 | €5,037 | -€104,944 | - |
| Profit (loss) for the period9904 | -€25,592 | -€50,741 | -€17,361 | -€53,935 | -€100,228 | €5,037 | -€104,944 | - |
| Profit (loss) for the period to be appropriated9905 | -€25,592 | -€50,741 | -€17,361 | -€53,935 | -€100,228 | €5,037 | -€104,944 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.4m | €2.6m | €2.5m | €2.8m | €2.4m | €2.1m | €1.6m | ▼ 26.5% |
| Fixed assets21/28 | €1.7m | €1.7m | €1.4m | €1.4m | €1.4m | €1.4m | €1.5m | ▲ 2.9% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 7.4% |
| Land and buildings22 | - | - | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 3.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €0.06m | - |
| Furniture and vehicles24 | - | - | - | - | - | €0.04m | €0.04m | = |
| Financial fixed assets28 | €1.2m | €1.2m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Current assets29/58 | €0.7m | €0.8m | €1.0m | €1.4m | €1.0m | €0.7m | €0.1m | ▼ 85.0% |
| Amounts receivable within one year40/41 | €0.6m | €0.8m | €1.0m | €1.3m | €0.9m | €0.5m | €0.04m | ▼ 92.5% |
| Trade receivables40 | - | - | €0.1m | €0.09m | €0.09m | - | €0.04m | - |
| Other amounts receivable41 | - | - | €0.9m | €1.2m | €0.8m | €0.5m | €0.002m | ▼ 99.7% |
| Cash at bank and in hand54/58 | €0.02m | €0.05m | €0.03m | €0.1m | €0.08m | €0.2m | €0.07m | ▼ 64.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.4m | €2.6m | €2.5m | €2.8m | €2.4m | €2.1m | €1.6m | ▼ 26.5% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €0.1m | -€0.002m | - |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Uncalled capital101 | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.04m | -€0.09m | -€0.1m | -€0.2m | -€0.3m | -€0.3m | -€0.4m | ▼ 41.4% |
| Amounts payable17/49 | €2.1m | €2.3m | €2.2m | €2.6m | €2.3m | €2.0m | €1.6m | ▼ 22.7% |
| Amounts payable after more than one year17 | €2.1m | €2.3m | €2.2m | €2.5m | €2.3m | €2.0m | €1.6m | ▼ 23.0% |
| Financial debts170/4 | - | - | €2.2m | €2.5m | €2.3m | €2.0m | €1.6m | ▼ 23.0% |
| Amounts payable within one year42/48 | €0.006m | €0.01m | €0.06m | €0.1m | €0.06m | €0.02m | €0.02m | ▲ 11.4% |
| Current portion of amounts payable after more than one year42 | - | - | €0.05m | €0.05m | €0.05m | - | - | - |
| Trade debts44 | €0.003m | €0.01m | €0.007m | €0.07m | €0.006m | €0.004m | €475 | ▼ 87.1% |
| Suppliers440/4 | - | - | €0.007m | €0.07m | €0.006m | €0.004m | €475 | ▼ 87.1% |
| Taxes, remuneration and social security45 | - | - | €0.003m | - | - | €0.01m | - | - |
| Taxes450/3 | - | - | €0.003m | - | - | €0.01m | - | - |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.001m | €367 | €0.02m | ▲ 51× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,592 | -€50,741 | -€17,361 | -€53,935 | -€100,228 | €5,037 | -€104,944 | - |
| + Depreciation and write-downs630 | €25,602 | €25,602 | €24,677 | €16,820 | €16,820 | €16,820 | €16,820 | = |
| Operating cash flow (approximation) | €10 | -€25,139 | €7,317 | -€37,115 | -€83,409 | €21,856 | -€88,124 | - |
| Investment in fixed assets (approximation) | - | -€19,000 | €279,413 | €0 | €0 | -€38,026 | -€57,808 | ▼ 52.0% |
| Change in cash | - | €31,886 | -€25,740 | €94,437 | -€36,434 | €108,684 | -€124,762 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00098451 | |
| 30-09-2024 | micro format | 25-04-2025 | 2025-00076337 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00073384 | |
| 30-09-2022 | micro format | 28-04-2023 | 2023-00075710 | |
| 30-09-2021 | micro format | 28-04-2022 | 2022-20017458 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-12700334 | |
| 30-09-2019 | micro format | 28-04-2020 | 2020-10200519 | |
| 30-09-2018 | micro format | 28-03-2019 | 2019-08600414 | |
| 30-09-2017 | micro format | 26-03-2018 | 2018-07800411 | |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-08500353 |