Pharmacie Codden
ActivePharmacie Codden has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €132k and a net result of €38k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 32% of 9984 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
63
/ 100
Healthy▼ -5 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency38▲+12
Growth52▲+20
Stability100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.25 in 2024), and 77.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 · 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
22.1%
Return on assets
6.3%
Age of the figures
8 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €132k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 · 8 filingsDeviation from the deadline
2025
17 d late
2024
15 d early
2023
26 d early
2022
29 d late
2021
34 d early
2020
33 d early
2019
31 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
06-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€38k▼ 49.4%
2024 · €75k
2020: €105k
2021: €34k
2022: €52k
2023: €65k
2024: €75k
2020 → 2025
Working capital
€86k▲ 29.0%
2024 · €67k
2020: €118k
2021: €111k
2022: €116k
2023: €87k
2024: €67k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€101k-€113k▲ 11.9%€100k▼ 12.1%€94k▼ 5.4%€132k▲ 40.1%
Operating result€55k-€79k▲ 44.0%€95k▲ 21.5%€108k▲ 13.2%€60k▼ 44.6%
Net result€34k-€52k▲ 51.3%€65k▲ 24.7%€75k▲ 15.0%€38k▼ 49.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €598k
Fixed assets
€265k▼ 13.0%
Current assets
€332k▼ 0.8%
Equity and liabilities €598k
Equity
€132k▲ 40.1%
Debt
€466k▼ 14.6%
The debt ratio falls from 85.3% to 77.9%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€99k▼
2024 · €149k
Cash flow
€77k▼
2024 · €116k
Solvency
22.1%▲
2024 · 14.7%
Current ratio
1.35▲
2024 · 1.25
Quick ratio
0.79▲
2024 · 0.64
Debt / equity
3.53▼
2024 · 5.80
ROE
28.6%▼
2024 · 79.3%
ROA
6.3%▼
2024 · 11.7%
Interest coverage
9.36▼
2024 · 12.52
Debt
€466k▼
2024 · €546k
Debt ≤ 1 year
€246k▼
2024 · €268k
Debt > 1 year
€220k▼
2024 · €278k
Income taxes
€12k▼
2024 · €22k
Staff costs
€112k▲
2024 · €91k
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
Total assets
20/58€640k€598k▼
Fixed assets
21/28€305k€265k▼
Intangible fixed assets
21€50k€25k▼
Tangible fixed assets
22/27€255k€240k▼
Current assets
29/58€335k€332k▼
Stocks & contracts in progress
3€164k€137k▼
Amounts receivable within one year
40/41€63k€92k▲
Cash & bank
54/58€107k€101k▼
Total equity & liabilities
10/49€640k€598k▼
Equity
10/15€94k€132k▲
Contributions / capital
10/11€19k€19k=
Reserves
13€2k€2k=
Accumulated profits (losses)
14€74k€111k▲
Amounts payable
17/49€546k€466k▼
Amounts payable after one year
17€278k€220k▼
Amounts payable within one year
42/48€268k€246k▼
Trade debts payable within one year
44€84k€98k▲
Income statement
Code20242025
Gross operating margin
9900€243k€214k▼
Operating result
9901€108k€60k▼
Financial income
75€448€715▲
Financial charges
65€12k€11k▼
Result before taxes
9903€97k€50k▼
Income taxes
67/77€22k€12k▼
Net result for the period
9904€75k€38k▼
Result to be appropriated
9905€75k€38k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 17 days late
2025
31-12
Financial
Equity above €100kEq €132k ▲40.1%
6 profitable years in a row build equity to €132k.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
28-11
State Gazette act
Director changes
Jean FONTEYN
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €34k ▼67.4%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
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Of 5,209 companies in sector 47730 we hold annual accounts for 3,823. 3,514 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-06-2017
Fiscal year end31-12
Activities, NACEBEL
47730Retail sale of pharmaceutical products
Sources
Crossroads Bank for EnterprisesBelgian Official Gazette · 1 actNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 15-07-2026. Scores and ratios are computed by Checked and are not a credit decision.