Financials
- Financial year
- 2024
- Turnover
- €0
- Profit
- €6,343
- Solvency
- 26.1%
Turnover
Net result
20182024
TORNAPHAR
ActiveSummary
The computed 12-month bankruptcy probability of TORNAPHAR is 2.7% (moderate). The 2024 annual accounts show equity of €918,977 and a net result of €6,343. Equity is growing by about 3.5% per year across the filed financial years. Its solvency ranks better than 42% of 6,487 sector peers (NACE 47, financial year 2024). The company has been active since 1992 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Retail sale of pharmaceutical products
NACE 47730
3 sites
Size
€0turnover 2024
- Staff
- 10 FTE
- Equity
- €918,977
- Profit
- €6,343
Structure
- Parent
- ANTARES INVEST · 80%
- BLUESTONEDirector · permanent representative RANSART Paul Daniel Luc Ghislain
- BEL MANAGEMENTDirector · permanent representative Charles RANSART
- Serge RANSARTDirector
2025 accounts not filed, 88 days past the deadline1 of 6 deeds summarised
Why 51raises riskFigures for financial year 2024 (filed 15-10-2025)Liquidity: current ratio 0.49, cash €124,529Size: turnover €0, 10 FTE, total assets €3.5mlowers riskFounded in 1992Show the evidence
Checked score
Score 2024
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 37% of its sector peers (NACE 47, small)
Financial strength · tick = 2023
Average
Solvency
51=
equity 26.1% of total assets
Liquidity
28=
short-term debt 52.4% · cash 3.5%
Profitability
62-8
return on assets 0.2%
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.2%
12-2024: 1.2%● unchanged vs 11-2024
01-2025: 1.2%● unchanged vs 12-2024
02-2025: 1.2%● unchanged vs 01-2025
03-2025: 1.3%▲ +0.1 percentage points vs 02-2025
04-2025: 1.4%▲ +0.1 percentage points vs 03-2025
05-2025: 1.4%● unchanged vs 04-2025
06-2025: 1.4%● unchanged vs 05-2025
07-2025: 1.7%▲ +0.3 percentage points vs 06-2025
08-2025: 2.5%▲ +0.8 percentage points vs 07-2025
09-2025: 2.9%▲ +0.4 percentage points vs 08-2025
10-2025: 3.5%▲ +0.6 percentage points vs 09-2025highest value
11-2025: 0.8%▼ -2.7 percentage points vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025lowest value
02-2026: 0.8%● unchanged vs 01-2026lowest value
03-2026: 0.9%▲ +0.1 percentage points vs 02-2026
04-2026: 0.9%● unchanged vs 03-2026
05-2026: 0.9%● unchanged vs 04-2026
06-2026: 1.0%▲ +0.1 percentage points vs 05-2026
07-2026: 1.0%● unchanged vs 06-2026
08-2026: 1.7%▲ +0.7 percentage points vs 07-2026
09-2026: 2.0%▲ +0.3 percentage points vs 08-2026
10-2026: 2.7%▲ +0.7 percentage points vs 09-2026
Credit of up to €45,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity insufficient (current ratio 0.49, compared with 0.46 in 2023, below 1; short-term debt: 52.4% and cash: 3.5% of total assets), and 73.9% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 47, small): better than 45% on solvency, 27% on liquidity, 44% on profitability and 34% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Six signals.
lowers riskraises risk
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 88 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline27-10-2026 today
raises risk · 2024 accounts filed 74 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-10-2025, 74 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
74 days late
2023
78 days late
2022
73 days late
2021
78 days late
2020
96 days late
2019
123 days late
← 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 87 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (1)
- Annual accounts filedfinancial year 2024 · full…
- Resignation: Société de Participations et de…Permanent representatives: RANSART Paul Daniel…
- Weakest financial yearnet €6,343 ▼73.8%
Key points
- Caution: 2025 accounts not fileddeadline was 31-07-2026 88 days past the deadline View
- Controlled by ANTARES INVESTultimately: COMPAGNIE FONCIERE ET FINANCIERE 80% View
- Positive: 7 profitable years in a rowprofit 2024: €6,343 7 years View
- Among the largest 14% on gross marginsector median €266,415 · 5,505 companies €858,962 View
By topic
Board & ownership
- Board
- 3 members
- Parent
- ANTARES INVEST · 80%
- BLUESTONEDirector
- BEL MANAGEMENTDirector
- Serge RANSARTDirector
Network & group
- Group
- COMPAGNIE FONCIERE ET FINANCIERE
- Connected companies
- 11
Timeline
- Events
- 35
- Since
- 1994
- 17-10-2024Annual accounts filed
- 12-10-2023Annual accounts filed
- 17-10-2022Annual accounts filed
Company details
- Sites
- 3
- Legal form
- Public limited company
- Activity
- Retail sale of pharmaceutical productsNACE 47730
- Founded
- 28-09-1992
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 38
- Annual meeting
- Second Monday of June at 10:00
Key facts about TORNAPHAR
- What is the company number of TORNAPHAR?
- 0448.509.588. In Belgium the VAT number is the company number with BE in front: BE 0448.509.588.
- Where is TORNAPHAR based?
- The registered office is at Rue de Roubaix(TEM) 12, 7520 Tournai.Company details
- What does TORNAPHAR do?
- According to the KBO register, the main activity is retail sale of pharmaceutical products (NACE 47730).
- What is the legal form of TORNAPHAR?
- Public limited company (NV).
- When was TORNAPHAR founded?
- On 28-09-1992.
- Is TORNAPHAR still active?
- Yes, TORNAPHAR is an active enterprise in the KBO register.
- How many employees does TORNAPHAR have?
- On average 10 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of TORNAPHAR?
- €0 in financial year 2024, according to the filed annual accounts.
- Is TORNAPHAR profitable?
- In financial year 2024, TORNAPHAR made a profit of €6,343.
- Where can I find the annual accounts of TORNAPHAR?
- TORNAPHAR filed 31 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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Parent and group
Shareholders
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