APOTHEEK BULTEEL
ActiveAPOTHEEK BULTEEL has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €157k and a net result of €28k. Equity is growing by ~34.6% per year across the filed fiscal years. Its solvency ranks better than 54% of 10345 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78=
Solvency66▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.28 in 2024; short-term debt: 48.7% and cash: 2% of total assets), and 58.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
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
41.2%
Return on assets
7.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
74 d late
2023
57 d late
2022
21 d late
2021
30 d late
2020
31 d late
2019
102 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€157k▲ 21.5%
2024 · €129k
2018: €67k
2019: €28k
2020: €26k
2021: €36k
2022: €70k
2023: €102k
2024: €129k
2018 → 2025
Total assets
€381k▲ 4.8%
2024 · €364k
2018: €502k
2019: €430k
2020: €358k
2021: €368k
2022: €375k
2023: €353k
2024: €364k
2018 → 2025
Net result
€28k▲ 3.5%
2024 · €27k
2018: €1k
2019: €-40k
2020: €-2k
2021: €10k
2022: €34k
2023: €33k
2024: €27k
2018 → 2025
Working capital
€76k▲ 48.1%
2024 · €52k
2018: €-11k
2019: €-5k
2020: €22k
2021: €38k
2022: €50k
2023: €50k
2024: €52k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€36k-€70k▲ 94.9%€102k▲ 46.8%€129k▲ 26.2%€157k▲ 21.5%
Operating result€19k-€53k▲ 181%€58k▲ 10.1%€40k▼ 31.0%€44k▲ 11.2%
Net result€10k-€34k▲ 255%€33k▼ 3.9%€27k▼ 17.8%€28k▲ 3.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €381k
Fixed assets
€119k▼ 6.3%
Current assets
€262k▲ 10.7%
Equity and liabilities €381k
Equity
€157k▲ 21.5%
Debt
€224k▼ 4.4%
The debt ratio falls from 64.5% to 58.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55k▲
2024 · €49k
Cash flow
€38k▲
2024 · €36k
Solvency
41.2%▲
2024 · 35.5%
Current ratio
1.41▲
2024 · 1.28
Quick ratio
0.48▼
2024 · 0.53
Debt / equity
1.43▼
2024 · 1.81
ROE
17.7%▼
2024 · 20.8%
ROA
7.3%▼
2024 · 7.4%
Interest coverage
9.03▲
2024 · 7.96
Debt
€224k▼
2024 · €234k
Debt ≤ 1 year
€185k▲
2024 · €185k
Debt > 1 year
€38k▼
2024 · €49k
Income taxes
€11k▲
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€364k€381k▲
Fixed assets21/28€127k€119k▼
Tangible fixed assets22/27€127k€119k▼
Land and buildings22€111k€109k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€11k€7k▼
Current assets29/58€236k€262k▲
Stocks and contracts in progress3€139k€172k▲
Stocks30/36€139k€172k▲
Amounts receivable within one year40/41€84k€82k▼
Trade receivables40€51k€59k▲
Other amounts receivable41€33k€23k▼
Cash at bank and in hand54/58€13k€8k▼
Equity and liabilities
Total equity and liabilities10/49€364k€381k▲
Equity10/15€129k€157k▲
Contributions10/11€13k€13k=
Reserves13€117k€144k▲
Distributable reserves133€117k€144k▲
Amounts payable17/49€234k€224k▼
Amounts payable after more than one year17€49k€38k▼
Financial debts170/4€49k€38k▼
Amounts payable within one year42/48€185k€185k▲
Current portion of amounts payable after more than one year42€28k€11k▼
Financial debts43€25k€25k=
Credit institutions430/8€25k€25k=
Trade debts44€127k€143k▲
Suppliers440/4€127k€143k▲
Taxes, remuneration and social security45€6k€6k▲
Taxes450/3€6k€6k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€10k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€6k€7k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€59k€65k▲
Operating profit (loss)9901€40k€44k▲
Financial income75/76B€21€71▲
Recurring financial income75€21€71▲
Financial charges65/66B€6k€6k▼
Recurring financial charges65€6k€6k▼
Profit (loss) for the period before taxes9903€34k€38k▲
Income taxes67/77€7k€11k▲
Profit (loss) for the period9904€27k€28k▲
Profit (loss) for the period to be appropriated9905€27k€28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€28k▲
Transfer to equity691/2€27k€28k▲
To other reserves6921€27k€28k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Equity above €150kEq €157k ▲21.5%
5 profitable years in a row build equity to €157k.
13-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 74 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 57 days late
2023
31-12
Financial
Equity above €100kEq €102k ▲46.8%
3 profitable years in a row build equity to €102k.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
31-12
Financial
Highest result since 2018net €34k ▲255%
Net result €34k, the highest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
31-12
Financial
Back to profitnet €10k
Net result €10k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 102 days late
2019
31-12
Financial
Weakest financial yearnet €-40k ▼2857%
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Sint-Niklaas · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Arkestraat 229111 Sint-NiklaasGround area
2,062 m²
Building footprint
149 m²
Volume, LiDAR
1,059 m³
Parcel 46002C0254/00D000, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Apoteek Bulteel
since 20102.192.958.380
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46002C0254/00D000 | Flanders | 2,062 m² | 1 · 149 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
PHARMALYS
BE 0897.510.415
Farciennes · Eq €157k
Apotheek De Voogt
BE 0460.066.743
Antwerpen · Eq €157k
Benoît Schleich
BE 0699.823.326
Péruwelz · Eq €157k
APOTHEEK TONGEREN WEST
BE 0790.230.294
Tongeren-Borgloon · Eq €157k
AKSA PHARMA
BE 0651.787.243
Brussel · Eq €157k
Of 5,222 companies in sector 47730 we hold annual accounts for 3,861. 3,566 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-09-2010
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.