Losses
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Every financial year from 2021 to 2025 closed with a loss. 2025 was the heaviest.
Green is investment, beige is depreciation. Machinery stands 340.2% higher than in 2024.
In 2025, 4 people joined and 3 left.
The last five annual accounts were filed 1 to 28 days before the end of the period.
Board changed. Latest change 05-01-2026 · 4 in office.
Lower net result than 89% of companies in pharmaceuticals. Sector median €358,757 · 95 companies.
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
The dashed line is the sector median: 0.4% across 44 companies (NACE 21, small).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 21, small). It does better than 30% of them on solvency, 86% on liquidity, 14% on profitability and 98% 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 224 companies had the same profile as SIMABS has now. Each dot is one company, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SIMABS itself is lower: 0.6% within 12 months. It rests on far more data about SIMABS than the profile alone.
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 224 companies, not a prediction for SIMABS. 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.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 1.5 (1.67 in 2024), above the usual 1.5. Short-term debt is 51.4% and cash 36.4% of total assets. However, 62.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 11 days before the deadline. In the sector (NACE 21), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| SIMABS Diepenbeek | - | - | 37.6% | 11.4 |
| Obulytix Ghent | - | - | 41.9% | 4.3 |
| Temmune Therapeutics Mechelen | - | - | 58.6% | - |
| PREVOR Liège | €3.9m | 11.4% | 36.1% | 19 |
| Groovy.Bio Evergem | - | - | 73.2% | 0.2 |
| CENTRALE AFDELING VOOR FRACTIONERING Brussels | €11.2m | -15.1% | 94.9% | 13.2 |
| ALEXION PHARMA BELGIUM Brussels | €20.8m | 3.2% | 39.7% | 9.3 |
These companies have the same main activity as SIMABS: manufacture of basic pharmaceutical products and pharmaceutical preparations (NACE 21201). They are comparable in size and age: total assets between €744,000 and €20m, founded between 2008 and 2023.
Solvency rose in 2025 from -30.3% to 37.6% because of a capital increase.
In January 2026, six directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 39% of 95 companies in 2025.
Higher than 46% of 94 companies in 2025.
Higher than 6% of 95 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 4 people joined and 3 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
2.7m | 1.1m | 1.4m | 1.2m | 2.2m | 1.4m | |
21/28 |
604,030 | 422,450 | 545,424 | 736,874 | 850,535 | 68,514 | |
21 |
3,653 | 7,218 | 10,784 | 14,349 | - | - | |
22/27 |
580,326 | 395,181 | 528,380 | 716,226 | 844,295 | 64,869 | |
23 |
425,265 | 96,615 | 77,631 | 102,766 | 570,401 | 63,814 | |
24 |
0 | 197 | 412 | 626 | 841 | 1,055 | |
25 |
146,708 | 287,842 | 450,338 | 612,833 | 273,054 | - | |
26 |
8,354 | 10,527 | - | - | - | - | |
28 |
20,051 | 20,051 | 6,260 | 6,300 | 6,240 | 3,645 | |
29/58 |
2.1m | 688,428 | 880,856 | 450,229 | 1.4m | 1.3m | |
29 |
320,000 | - | - | - | - | - | |
291 |
320,000 | - | - | - | - | - | |
3 |
69,754 | 69,754 | 58,274 | 58,834 | 48,459 | - | |
30/36 |
69,754 | 69,754 | 58,274 | 58,834 | 48,459 | - | |
40/41 |
682,535 | 455,908 | 149,855 | 47,154 | 43,099 | 17,423 | |
40 |
156,513 | 378,458 | 149,562 | 27,931 | 517 | 156 | |
41 |
526,022 | 77,450 | 293 | 19,222 | 42,583 | 17,268 | |
54/58 |
970,589 | 162,766 | 672,241 | 342,342 | 826,150 | 1.3m | |
490/1 |
21,866 | 0 | 486 | 1,900 | 464,328 | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
2.7m | 1.1m | 1.4m | 1.2m | 2.2m | 1.4m | |
10/15 |
1.0m | -337,049 | 649,820 | 271,415 | 1.0m | 835,361 | |
10/11 |
4.7m | 1.9m | 1.9m | 1.1m | 1.1m | 500,000 | |
10 |
4.7m | 1.9m | 1.9m | 1.1m | 1.1m | - | |
100 |
4.7m | 1.9m | 1.9m | 1.1m | 1.1m | 500,000 | |
13 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 335,361 | |
130/1 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
130 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
133 |
- | - | - | - | - | 285,361 | |
14 |
-3.8m | -2.3m | -1.3m | -853,585 | -85,486 | - | |
17/49 |
1.7m | 1.4m | 776,460 | 915,689 | 1.2m | 537,397 | |
17 |
261,730 | 777,162 | 354,533 | 601,333 | 498,727 | 389,019 | |
170/4 |
261,730 | 777,162 | 354,533 | 601,333 | 498,727 | 389,019 | |
42/48 |
1.4m | 412,265 | 421,927 | 314,357 | 694,330 | 148,379 | |
42 |
128,736 | 209,364 | 246,800 | 242,279 | 163,514 | 95,330 | |
44 |
1.1m | 129,211 | 106,467 | 28,641 | 507,406 | 46,081 | |
440/4 |
1.1m | 129,211 | 106,467 | 28,641 | 507,406 | 46,081 | |
45 |
104,043 | 73,690 | 68,660 | 43,437 | 23,409 | 6,858 | |
450/3 |
3,773 | 1,708 | 26,156 | 487 | 196 | 24 | |
454/9 |
100,270 | 71,982 | 42,504 | 42,950 | 23,213 | 6,834 | |
47/48 |
- | - | - | - | - | 109 | |
492/3 |
31,485 | 258,500 | - | - | - | - | |
| Income statement | |||||||
76A |
0 | 196 | - | 1,778 | - | - | |
9900 |
-129,335 | -105,189 | 121,285 | -236,868 | -120,385 | 371,722 | |
62 |
1.1m | 661,307 | 363,862 | 333,246 | 186,408 | 21,309 | |
630 |
211,286 | 195,945 | 191,411 | 172,149 | 50,900 | 1,104 | |
640/8 |
11,742 | 1,516 | 2,247 | 2,106 | 512 | 1,002 | |
9901 |
-1.4m | -963,957 | -436,235 | -744,370 | -358,205 | 348,307 | |
75/76B |
316 | 1,752 | 718 | 19 | 99 | - | |
75 |
316 | 1,752 | 718 | 19 | 99 | - | |
65/66B |
28,766 | 23,553 | 17,103 | 23,262 | 12,568 | 12,921 | |
65 |
28,766 | 23,553 | 17,103 | 23,262 | 12,568 | 12,921 | |
9903 |
-1.5m | -985,758 | -452,620 | -767,612 | -370,675 | 335,386 | |
67/77 |
2,065 | 1,111 | 574 | 487 | 172 | 24 | |
9904 |
-1.5m | -986,869 | -453,195 | -768,099 | -370,847 | 335,361 | |
9905 |
-1.5m | -986,869 | -453,195 | -768,099 | -370,847 | 335,361 | |
| Appropriation of the result | |||||||
9906 |
-3.8m | -2.3m | -1.3m | -853,585 | -370,847 | 335,361 | |
14P |
-2.3m | -1.3m | -853,585 | -85,486 | - | - | |
791/2 |
- | - | - | - | 285,361 | - | |
691/2 |
- | - | - | - | - | 335,361 | |
6920 |
- | - | - | - | - | 50,000 | |
6921 |
- | - | - | - | - | 285,361 | |
| Social balance sheet | |||||||
9087 |
11.4 | 7.3 | 4 | 4.4 | 3 | 1.3 | |
Hours worked1013 |
18,442 | 12,034 | 6,827 | 7,388 | 5,371 | 616 | |
| Document | |||||||
The notes to these accounts have 22 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00368030 | |
| 31-12-2024 | abbreviated format | 23-07-2025 | 2025-00298330 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00298787 | |
| 31-12-2022 | abbreviated format | 30-07-2023 | 2023-00296677 | |
| 31-12-2021 | abbreviated format | 03-07-2022 | 2022-20125120 | |
| 31-12-2020 | abbreviated format | 08-07-2021 | 2021-33300023 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 5 | €14,917 | €227,917 |
| 2024 | 1 | €534,237 | €213,000 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| -1.2m | -768,012 | -244,824 | -572,220 | -307,305 | 349,411 | ||
| -1.3m | -790,924 | -261,784 | -595,950 | -319,947 | 336,465 | ||
| 392,865 | 216,340 | -40 | 540,698 | 833,221 | 69,618 | ||
| 807,823 | -509,475 | 329,899 | -483,808 | -460,671 | - | ||
| 692,436 | 276,163 | 458,929 | 135,873 | 687,707 | 1.2m | ||
| 37.6% | -30.3% | 45.6% | 22.9% | 46.6% | 60.9% | ||
| 1.50 | 1.67 | 2.09 | 1.43 | 1.99 | 8.79 | ||
| 1.45 | 1.50 | 1.95 | 1.25 | 1.92 | 8.79 | ||
| 1.66 | - | 1.19 | 3.37 | 1.15 | 0.64 | ||
| -147.0% | - | -69.7% | -283.0% | -35.7% | 40.1% | ||
| -55.3% | -88.8% | -31.8% | -64.7% | -16.6% | 24.4% | ||
| -42.86 | -32.61 | -14.31 | -24.60 | -24.45 | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 12 | 11 | 5 | 5 | 3 |
| full-time | 12 | 10 | 4 | 4 | 3 |
| part-time | 0 | 1 | 1 | 1 | - |
| in full-time equivalents | 12 | 10.8 | 4.8 | 4.8 | 3 |
| 11.4 | 7.3 | 4 | 4.4 | 2.9 | |
| On a permanent contract | 12 | 11 | 5 | 5 | 3 |
| Joined | 4 | 7 | 1 | 2 | 2 |
| Left | 3 | 1 | 1 | 0 | 1 |
| Training hours | - | 12 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €552,408 | €273,223 |
| Carrying value of the other pledged assets | €146,708 | €287,842 | €450,338 | €612,833 | €273,054 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €392,865 | €202,549 | - | €522,802 | €830,326 |
| Intangible fixed assets | - | - | - | €17,826 | - |
| Financial fixed assets | €0 | €13,791 | - | €70 | €2,895 |
| €211,286 | €195,945 | €191,411 | €172,149 | €50,900 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €1.4m, larger than the loss of €963,957 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total is 62.4%.
Source: lists of holdings in the owners' accounts
SIMABS has no parent and no holdings in its annual accounts.
| QbD Group via Quality for You, at SIMABS until 2026 · Director · deed of 24-10-2022 founded in 2011 · group Quality for You |
179 FTE (2025) |
| Poels via Metatron Holding, at SIMABS until 2026 · Director · deed of 22-10-2024 founded in 1975 |
43 FTE (2025) |
| DADDY KATE via Metatron Holding, at SIMABS until 2026 · Director · deed of 18-06-2021 founded in 2009 · group Nano Capital |
79 FTE (2025) |
| ABN Cleanroom Technology via Metatron Holding, at SIMABS until 2026 · Managing director and chair of the board · deed of 05-01-2024 founded in 2019 |
28 FTE (2025) |
| Aionis via Metatron Holding, at SIMABS until 2026 · Managing director · deed of 03-10-2024 founded in 2024 |
total assets €8.5m (2025) |
| Hamster Cleaning via Metatron Holding, at SIMABS until 2026 · Director · deed of 25-11-2021 founded in 2014 |
25 FTE (2025) |
| TRU via Metatron Holding, at SIMABS until 2026 · Director · deed of 25-10-2019 founded in 2019 |
22 FTE (2025) |
| QbD Wallonia via Quality for You, at SIMABS until 2026 · Director (not named in the articles) · deed of 18-01-2024 founded in 2019 · group Quality for You |
15 FTE (2025) |
| QbD RepS via Quality for You, at SIMABS until 2026 · Director · deed of 06-09-2021 founded in 2000 · group Quality for You |
total assets €1.1m (2025) |
| KENWELD via Metatron Holding, at SIMABS until 2026 · Director · deed of 29-09-2025 founded in 2021 |
total assets €256,849 (2025) |
| QBD CLINICAL HOLDING via QbD Growth (no longer at QBD CLINICAL HOLDING) and Quality for You (at SIMABS until 2026) · deeds of 25-05-2023 and 01-09-2020 No longer active |
total assets €11.3m (2023) |
| Trium Clinical Consulting via QbD Growth (no longer at Trium Clinical Consulting) and Quality for You (at SIMABS until 2026) · deeds of 25-05-2023 and 16-09-2020 No longer active |
64 FTE (2023) |
| Baeten Consultancy & Management via Quality for You, at SIMABS until 2026 · Sole director · deed of 31-08-2022 No longer active |
5.6 FTE (2023) |
| TURNSTONE COMMUNICATIONS via QbD Growth, no longer at TURNSTONE COMMUNICATIONS · Director · deed of 14-06-2023 No longer active · group Quality for You |
total assets €113,661 (2025) |
| HEALTHTOMARKET via Quality for You, at SIMABS until 2026 · Sole director · deed of 28-05-2024 No longer active |
1 FTE (2023) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
SIMABS was incorporated on 20 August 2019 as a public limited company by PILOT BIOLOGIX, Oak Projects and three other companies, with a starting capital of €100,000.12 Between 2020 and 2026 the capital was increased 5 times, most recently to €6.2m.345 The board currently has 4 members.6 Total assets rose from €1.4m in 2020 to €2.7m in 2025 and headcount from 1.3 to 11.4 full-time equivalents.7
| Establishment | Since | Unit number |
|---|---|---|
| Agoralaan Abis registered office 3590 Diepenbeek | 20-08-2019 | 2.292.355.864 |
| Wetenschapspark 9 3590 Diepenbeek | 25-09-2025 | 2.378.436.337 |
| 25-02-2026 | Granted | Bouwen of herbouwen; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 22-07-2025 · project 2025049265 | Provincie Limburg |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71011A0098/00L000 | 2,465 m² | 1 · 595 m² | 7.4 m · 2 |
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