VALAPHARMA
ActiveSummary
VALAPHARMA has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.0m and a net result of €591,858. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 80% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▼-8
Solvency97▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €250,000 at 30 days acceptable
Liquidity tight (current ratio 1.41 against 0.82 in 2024; short-term debt: 18.6% and cash: 11.1% of total assets), and 27.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
72.4%
Return on assets
14.4%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
20 d early
2023
2 d late
2022
25 d late
2021
30 d late
2020
1 d early
2019
45 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€591,858▼ 25.5%
2024 · €794,601
Working capital
€313,323
2024 · -€170,470
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€244,607▲ 18.7%€275,963▲ 12.8%€267,891▼ 2.9%€250,519▼ 6.5%€297,894▲ 18.9%
Net result€295,264▼ 22.3%€318,457▲ 7.9%€317,668▼ 0.2%€794,601▲ 150%€591,858▼ 25.5%
Equity€2.1m▲ 16.3%€2.4m▲ 15.1%€2.7m▲ 13.1%€2.4m▼ 12.9%€3.0m▲ 24.7%
Total assets€3.3m▼ 1.2%€3.5m▲ 4.5%€3.5m▲ 1.4%€3.8m▲ 7.7%€4.1m▲ 8.0%
Debt€1.2m▼ 21.3%€1.1m▼ 13.7%€799,201▼ 25.2%€1.4m▲ 78.2%€1.1m▼ 20.1%
Working capital€28,885€234,744▲ 713%€276,649▲ 17.9%-€170,470€313,323
Staff (FTE)000
Why a figure moved sharply
- 2024 Net result +150% on 2023. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 19% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€3.0m ▼ 0.3%
Current assets
€1.1m ▲ 41.0%
Equity and liabilities €4.1m
Equity
€3.0m ▲ 24.7%
Debt
€1.1m ▼ 20.1%
Debt's share of the balance-sheet total falls from 37.3% to 27.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€307,428▲
2024 · €260,052
Cash flow
€601,391▼
2024 · €804,135
Current ratio
1.41▲
2024 · 0.82
Debt to equity
0.38▼
2024 · 0.59
ROE
19.8%▼
2024 · 33.2%
ROA
14.4%▼
2024 · 20.8%
Interest coverage
14.57▲
2024 · 13.11
Debt ≤ 1 year
€767,936▼
2024 · €937,364
Debt > 1 year
€369,555▼
2024 · €487,153
Income taxes
€127,927▼
2024 · €133,618
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,652 | €9,652 | €4,493 | €9,534 | €9,534 | = |
| Other operating charges640/8 | €1,457 | €1,071 | €3,488 | €814 | €2,048 | ▲ 152% |
| Gross operating margin9900 | €255,717 | €286,686 | €275,871 | €260,866 | €309,476 | ▲ 18.6% |
| Operating profit (loss)9901 | €244,607 | €275,963 | €267,891 | €250,519 | €297,894 | ▲ 18.9% |
| Financial income75/76B | €150,531 | €151,872 | €151,300 | €697,535 | €442,987 | ▼ 36.5% |
| Recurring financial income75 | €150,531 | €151,872 | €151,300 | €697,535 | €442,987 | ▼ 36.5% |
| Financial charges65/66B | €17,215 | €15,030 | €8,396 | €19,835 | €21,096 | ▲ 6.4% |
| Recurring financial charges65 | €17,215 | €15,030 | €8,396 | €19,835 | €21,096 | ▲ 6.4% |
| Profit (loss) for the period before taxes9903 | €377,923 | €412,805 | €410,794 | €928,219 | €719,785 | ▼ 22.5% |
| Income taxes67/77 | €82,660 | €94,348 | €93,127 | €133,618 | €127,927 | ▼ 4.3% |
| Profit (loss) for the period9904 | €295,264 | €318,457 | €317,668 | €794,601 | €591,858 | ▼ 25.5% |
| Profit (loss) for the period to be appropriated9905 | €295,264 | €318,457 | €317,668 | €794,601 | €591,858 | ▼ 25.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.3m | €3.5m | €3.5m | €3.8m | €4.1m | ▲ 8.0% |
| Fixed assets21/28 | €2.9m | €2.9m | €3.1m | €3.1m | €3.0m | ▼ 0.3% |
| Tangible fixed assets22/27 | €9,652 | €0 | €43,176 | €33,642 | €24,109 | ▼ 28.3% |
| Furniture and vehicles24 | €9,652 | €0 | €43,176 | €33,642 | €24,109 | ▼ 28.3% |
| Financial fixed assets28 | €2.9m | €2.9m | €3.0m | €3.0m | €3.0m | = |
| Current assets29/58 | €421,119 | €579,808 | €480,612 | €766,894 | €1.1m | ▲ 41.0% |
| Amounts receivable within one year40/41 | €84,360 | €32,922 | €125,614 | €179,168 | €329,672 | ▲ 84.0% |
| Trade receivables40 | €29,853 | €32,209 | €38,211 | €38,744 | €29,343 | ▼ 24.3% |
| Other amounts receivable41 | €54,508 | €713 | €87,404 | €140,425 | €300,329 | ▲ 114% |
| Current investments50/53 | €9,900 | €9,900 | €9,900 | €9,900 | €284,900 | ▲ 2,778% |
| Cash at bank and in hand54/58 | €325,863 | €531,525 | €334,804 | €576,521 | €458,520 | ▼ 20.5% |
| Deferred charges and accrued income490/1 | €996 | €5,461 | €10,294 | €1,305 | €8,168 | ▲ 526% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.3m | €3.5m | €3.5m | €3.8m | €4.1m | ▲ 8.0% |
| Equity10/15 | €2.1m | €2.4m | €2.7m | €2.4m | €3.0m | ▲ 24.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €2.1m | €2.4m | €2.7m | €2.4m | €3.0m | ▲ 24.9% |
| Non-distributable reserves130/1 | €23,246 | €23,246 | €23,246 | €23,246 | €23,246 | = |
| Reserves not available under the articles1311 | €23,246 | €23,246 | €23,246 | €23,246 | €23,246 | = |
| Distributable reserves133 | €2.1m | €2.4m | €2.7m | €2.4m | €2.9m | ▲ 25.2% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €1.2m | €1.1m | €799,201 | €1.4m | €1.1m | ▼ 20.1% |
| Amounts payable after more than one year17 | €832,419 | €711,898 | €592,836 | €487,153 | €369,555 | ▼ 24.1% |
| Financial debts170/4 | €832,419 | €711,898 | €592,836 | €487,153 | €369,555 | ▼ 24.1% |
| Amounts payable within one year42/48 | €392,235 | €345,064 | €203,963 | €937,364 | €767,936 | ▼ 18.1% |
| Current portion of amounts payable after more than one year42 | €116,113 | €118,567 | €120,234 | €113,232 | €117,598 | ▲ 3.9% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €607 | €3,532 | €21,241 | €702 | €1,289 | ▲ 83.8% |
| Suppliers440/4 | €607 | €3,532 | €21,241 | €702 | €1,289 | ▲ 83.8% |
| Taxes, remuneration and social security45 | €44,503 | €39,377 | €61,923 | €109,660 | €135,096 | ▲ 23.2% |
| Taxes450/3 | €44,481 | €39,377 | €61,923 | €109,660 | €135,096 | ▲ 23.2% |
| Remuneration and social security454/9 | €22 | €0 | - | - | - | - |
| Other amounts payable47/48 | €231,012 | €183,587 | €565 | €713,771 | €513,953 | ▼ 28.0% |
| Accrued charges and deferred income492/3 | €12,655 | €10,926 | €2,402 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €295,264 | €318,457 | €317,668 | €794,601 | €591,858 | ▼ 25.5% |
| + Depreciation and write-downs630 | €9,652 | €9,652 | €4,493 | €9,534 | €9,534 | = |
| Operating cash flow (approximation) | €304,916 | €328,109 | €322,160 | €804,135 | €601,391 | ▼ 25.2% |
| Investment in fixed assets (approximation) | - | €0 | -€152,669 | €4,797 | €0 | ▼ 100% |
| Change in cash | - | €205,662 | -€196,721 | €241,717 | -€118,001 | ▼ 149% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €794,601 ▲150%
Net result €794,601, the highest in the series.
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 2 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-12
Financial
Equity above €2mEq €2.1m ▲16.3%
4 profitable years in a row build equity to €2.1m.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 45 days late
2019
31-12
Financial
Weakest financial yearnet €168,851 ▼66.1%
Net result drops to €168,851, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 2004
Ground area
3,229 m²
Building footprint
137 m²
Volume, LiDAR
895 m³
Parcel 92128C0446/00T000, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VALAPHARMA
since 20042.135.736.397
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92128C0446/00T000 | Wallonia | 3,229 m² | 1 · 137 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
3 holdingsOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 3
-
99.87%
-
97.96%
-
30%
According to the 2025 annual accounts of VALAPHARMA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,907. 2,258 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-01-2004
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0862841229
Also
9925:BE0862841229
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.