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PHARMANEXT

Active
Private limited companyfounded 20188 yrs activeSolbossquare 30, 1050 Elsene, BelgiumKBO/BCE: BE 0705.998.068
Summary

The computed 12-month bankruptcy probability of PHARMANEXT is 2.2% (moderate). The 2024 annual accounts show equity of €441,587 and a net result of €139,464. Equity is growing by ~36.1% per year across the filed fiscal years. The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
PHARMANEXTActiveChecked score 57/100
Risk analysis ReportCompare

Checked score

Score 2024
57 / 100
Fair
Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability83▲+6
Solvency61▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
2.2% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 1.72 against 1.58 in 2023; short-term debt: 48.5% and cash: 0.1% of total assets), but 63.9% of the assets are financed with debt.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 8 years 0 10 y
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 26-06-2026, 35 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
35 d early
2024
34 d early
2023
83 d late
2022
1 d late
2021
74 d late
2020
9 d early
2019
4 d early
← 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 on the deadline day, and 47% 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. Usually files around 1 August (4 of the last 5 filed years within 73 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 28 September 2018, PHARMANEXT was incorporated.1 Total assets went from EUR 1.2 million in 2019 to EUR 1.2 million in 2024 and headcount from 3.6 to 3.5 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2019 and 2024

Go further with this company

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2024, full schema, 2025 accounts filed, figures not processed yet

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€139,464▲ 77.5%
2023 · €78,551
Working capital
€429,230▲ 31.9%
2023 · €325,424
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result€112,493▲ 92.3%€115,017▲ 2.2%€99,786▼ 13.2%€106,539▲ 6.8%€174,792▲ 64.1%
Net result€85,593within the sector's middle half▲ 114%€83,511within the sector's middle half▼ 2.4%€73,185within the sector's middle half▼ 12.4%€78,551within the sector's middle half▲ 7.3%€139,464above the sector's middle half▲ 77.5%
Equity€96,875within the sector's middle half▲ 167%€180,386within the sector's middle half▲ 86.2%€253,572within the sector's middle half▲ 40.6%€332,123within the sector's middle half▲ 31.0%€441,587within the sector's middle half▲ 33.0%
Total assets€1.1mwithin the sector's middle half▼ 0.7%€1.2mwithin the sector's middle half▲ 4.1%€1.2mwithin the sector's middle half▼ 3.5%€1.1mwithin the sector's middle half▼ 0.5%€1.2mwithin the sector's middle half▲ 6.5%
Debt€1.1m▼ 6.1%€1.0m▼ 3.5%€899,445▼ 11.3%€815,195▼ 9.4%€780,786▼ 4.2%
Working capital€69,322within the sector's middle half€158,006within the sector's middle half▲ 128%€232,869within the sector's middle half▲ 47.4%€325,424within the sector's middle half▲ 39.7%€429,230within the sector's middle half▲ 31.9%
Solvency8.4%below the sector's middle half▲ 5.3pp15.1%within the sector's middle half▲ 6.7pp22.0%within the sector's middle half▲ 6.9pp28.9%within the sector's middle half▲ 7.0pp36.1%within the sector's middle half▲ 7.2pp
Current ratio1.11within the sector's middle half▲ 0.131.25within the sector's middle half▲ 0.131.40within the sector's middle half▲ 0.151.58within the sector's middle half▲ 0.181.72within the sector's middle half▲ 0.15
Return on assets (ROA)7.5%within the sector's middle half▲ 4.0pp7.0%within the sector's middle half▼ 0.5pp6.3%within the sector's middle half▼ 0.6pp6.8%within the sector's middle half▲ 0.5pp11.4%above the sector's middle half▲ 4.6pp
Staff (FTE)3.8within the sector's middle half▲ 5.6%3.9within the sector's middle half▲ 2.6%3.5within the sector's middle half▼ 10.3%3.4within the sector's middle half▼ 2.9%3.5within the sector's middle half▲ 2.9%
above within below the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
€0€50,000€100,000€150,000Operating result 2020: €112,493€112,493Net result 2020: €85,593€85,593Operating result 2021: €115,017€115,017Net result 2021: €83,511€83,511Operating result 2022: €99,786€99,786Net result 2022: €73,185€73,185Operating result 2023: €106,539€106,539Net result 2023: €78,551€78,551Operating result 2024: €174,792€174,792Net result 2024: €139,464€139,46420202021202220232024€0€50,000€100,000€150,000Operating result 2022: €99,786€99,800Net result 2022: €73,185€73,200Operating result 2023: €106,539€107,000Net result 2023: €78,551€78,600Operating result 2024: €174,792€175,000Net result 2024: €139,464€139,000202220232024
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 64% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets €199,857 ▼ 22.1%
Current assets €1.0m ▲ 14.8%
Equity and liabilities €1.2m
Equity €441,587 ▲ 33.0%
Debt €780,786 ▼ 4.2%
Debt's share of the balance-sheet total falls from 71.1% to 63.9%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€235,989▲
2023 · €183,044
Cash flow
€200,661▲
2023 · €155,055
Quick ratio
1.52▲
2023 · 1.37
Debt to equity
1.77▼
2023 · 2.45
ROE
31.6%▲
2023 · 23.7%
Interest coverage
21.21▲
2023 · 15.53
Debt ≤ 1 year
€593,286▲
2023 · €565,195
Debt > 1 year
€187,500▼
2023 · €250,000
Income taxes
€38,911▲
2023 · €29,522
Staff costs
€215,851▼
2023 · €216,066
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.

  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
1.6% went bankrupt
3.4% stopped otherwise
95% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 26,975 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet Code20232024
Assets
Total assets20/58€1.1m€1.2m▲
Fixed assets21/28€256,699€199,857▼
Intangible fixed assets21€231,343€182,543▼
Tangible fixed assets22/27€20,106€12,064▼
Plant, machinery and equipment23€4,048€0▼
Furniture and vehicles24€6,573€5,979▼
Other tangible fixed assets26€9,485€6,085▼
Financial fixed assets28€5,250€5,250=
Current assets29/58€890,619€1.0m▲
Stocks and contracts in progress3€118,003€118,788▲
Stocks30/36€118,003€118,788▲
Amounts receivable within one year40/41€767,288€901,390▲
Trade receivables40€94,510€77,930▼
Other amounts receivable41€672,778€823,460▲
Cash at bank and in hand54/58€3,538€1,445▼
Deferred charges and accrued income490/1€1,790€892▼
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.2m▲
Equity10/15€332,123€441,587▲
Contributions10/11€6,200€6,200=
Profit (loss) carried forward14€325,923€435,387▲
Amounts payable17/49€815,195€780,786▼
Amounts payable after more than one year17€250,000€187,500▼
Financial debts170/4€250,000€187,500▼
Amounts payable within one year42/48€565,195€593,286▲
Current portion of amounts payable after more than one year42€62,500€62,500=
Financial debts43€13,937€15,275▲
Credit institutions430/8€13,937€15,275▲
Other loans439€0-
Trade debts44€383,177€391,771▲
Suppliers440/4€383,177€391,771▲
Taxes, remuneration and social security45€77,282€64,442▼
Taxes450/3€35,268€21,812▼
Remuneration and social security454/9€42,013€42,629▲
Other amounts payable47/48€28,299€59,299▲
Income statement Code20232024
Remuneration, social security and pensions62€216,066€215,851▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€76,504€61,197▼
Other operating charges640/8€1,057€1,064▲
Gross operating margin9900€400,166€452,903▲
Operating profit (loss)9901€106,539€174,792▲
Financial income75/76B€13,320€14,708▲
Recurring financial income75€13,320€14,708▲
Financial charges65/66B€11,786€11,125▼
Recurring financial charges65€11,786€11,125▼
Profit (loss) for the period before taxes9903€108,073€178,375▲
Income taxes67/77€29,522€38,911▲
Profit (loss) for the period9904€78,551€139,464▲
Profit (loss) for the period to be appropriated9905€78,551€139,464▲
Appropriation of the result
Profit (loss) to be appropriated9906€325,923€465,387▲
Profit (loss) brought forward from the previous period14P€247,372€325,923▲
Profit to be distributed694/7-€30,000
Directors or managers695-€30,000
Social balance
Average headcount (FTE)90873.43.5▲

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€192,074€195,417€216,066€215,851▼ 0.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€81,766€75,194€75,261€76,504€61,197▼ 20.0%
Other operating charges640/8-€953€972€1,057€1,064▲ 0.7%
Gross operating margin9900€363,901€383,238€371,436€400,166€452,903▲ 13.2%
Operating profit (loss)9901€112,493€115,017€99,786€106,539€174,792▲ 64.1%
Financial income75/76B-€9,076€11,094€13,320€14,708▲ 10.4%
Recurring financial income75€7,748€9,076€11,094€13,320€14,708▲ 10.4%
Financial charges65/66B-€10,884€10,581€11,786€11,125▼ 5.6%
Recurring financial charges65€12,141€10,884€10,581€11,786€11,125▼ 5.6%
Profit (loss) for the period before taxes9903€108,100€113,209€100,298€108,073€178,375▲ 65.1%
Income taxes67/77€22,508€29,698€27,113€29,522€38,911▲ 31.8%
Profit (loss) for the period9904€85,593€83,511€73,185€78,551€139,464▲ 77.5%
Profit (loss) for the period to be appropriated9905€85,593€83,511€73,185€78,551€139,464▲ 77.5%
Line20202021202220232024Change
Assets
Total assets20/58€1.1m€1.2m€1.2m€1.1m€1.2m▲ 6.5%
Fixed assets21/28€470,747€397,598€333,203€256,699€199,857▼ 22.1%
Intangible fixed assets21€377,743€328,943€280,143€231,343€182,543▼ 21.1%
Tangible fixed assets22/27€87,754€63,405€47,810€20,106€12,064▼ 40.0%
Plant, machinery and equipment23-€44,048€24,048€4,048€0▼ 100%
Furniture and vehicles24-€3,071€10,877€6,573€5,979▼ 9.0%
Other tangible fixed assets26-€16,286€12,886€9,485€6,085▼ 35.9%
Financial fixed assets28€5,250€5,250€5,250€5,250€5,250=
Current assets29/58€676,842€797,188€819,814€890,619€1.0m▲ 14.8%
Stocks and contracts in progress3€112,939€97,312€111,154€118,003€118,788▲ 0.7%
Stocks30/36-€97,312€111,154€118,003€118,788▲ 0.7%
Amounts receivable within one year40/41€512,146€631,580€680,492€767,288€901,390▲ 17.5%
Trade receivables40-€97,416€83,534€94,510€77,930▼ 17.5%
Other amounts receivable41-€534,164€596,958€672,778€823,460▲ 22.4%
Cash at bank and in hand54/58€48,548€66,173€27,501€3,538€1,445▼ 59.2%
Deferred charges and accrued income490/1-€2,123€667€1,790€892▼ 50.2%
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.2m€1.2m€1.1m€1.2m▲ 6.5%
Equity10/15€96,875€180,386€253,572€332,123€441,587▲ 33.0%
Contributions10/11-€6,200€6,200€6,200€6,200=
Profit (loss) carried forward14€90,675€174,186€247,372€325,923€435,387▲ 33.6%
Amounts payable17/49€1.1m€1.0m€899,445€815,195€780,786▼ 4.2%
Amounts payable after more than one year17€437,500€375,000€312,500€250,000€187,500▼ 25.0%
Financial debts170/4-€375,000€312,500€250,000€187,500▼ 25.0%
Amounts payable within one year42/48€607,520€639,182€586,945€565,195€593,286▲ 5.0%
Current portion of amounts payable after more than one year42-€62,500€62,500€62,500€62,500=
Financial debts43-€10,008€4,946€13,937€15,275▲ 9.6%
Credit institutions430/8-€10,008€0€13,937€15,275▲ 9.6%
Other loans439--€4,946€0--
Trade debts44€372,163€383,305€421,076€383,177€391,771▲ 2.2%
Suppliers440/4-€383,305€421,076€383,177€391,771▲ 2.2%
Taxes, remuneration and social security45-€83,570€63,591€77,282€64,442▼ 16.6%
Taxes450/3-€55,439€38,513€35,268€21,812▼ 38.2%
Remuneration and social security454/9-€28,131€25,078€42,013€42,629▲ 1.5%
Other amounts payable47/48-€99,799€34,832€28,299€59,299▲ 110%
Accrued charges and deferred income492/3-€217€0---
Line20202021202220232024Change
Profit (loss) for the period9904€85,593€83,511€73,185€78,551€139,464▲ 77.5%
+ Depreciation and write-downs630€81,766€75,194€75,261€76,504€61,197▼ 20.0%
Operating cash flow (approximation)€167,359€158,705€148,446€155,055€200,661▲ 29.4%
Investment in fixed assets (approximation)--€2,045-€10,866€0-€4,355-
Change in cash-€17,625-€38,672-€23,963-€2,093▲ 91.3%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
26-06
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Highest result since 2019net €139,464 ▲77.5%
Operating result €174,792, net result €139,464, both a record.
22-10
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 83 days late
2023
01-08
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 1 day late
2022
31-12
Financial Equity above €200,000Eq €253,572 ▲40.6%
4 profitable years in a row build equity to €253,572.
13-10
NBB filing Annual accounts filed
fiscal year 2021 · full schema · 74 days late
2021
31-12
Financial Equity above €150,000Eq €180,386 ▲86.2%
3 profitable years in a row build equity to €180,386.
22-07
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
27-07
NBB filing Annual accounts filed
fiscal year 2019 · 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.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Elsene · 2 establishment units since 2018
seat establishment All 2 establishment units on the map
Ground area
1,976 m²
Building footprint
554 m²
Volume, LiDAR
8,960 m³
2 parcels, Brussels, Wallonia · tallest building 30.6 m, ±8 floors. Linked by address, not a title deed.
11 companies at this address See who is registered here
2 establishment units
PHARMANEXT
Solbossquare 30, 1050 ElseneRetail sale of pharmaceutical products
since 20182.280.118.523
Pharmacie Moulin
Iseghemstraat 161, 7700 MouscronRetail sale of pharmaceutical products
since 20182.285.007.917
2 parcels
Wallonia 1 (50%) Brussels 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
54433E0564/00B004 Wallonia 1,465 m² 1 · 213 m² 8.1 m · 2 fl.
21446D0194/00T007 Brussels 510 m² 1 · 342 m² 30.6 m · 8 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Part of the group BLUESTONE 10 companies Group, risk and exposure

Owners and holdings

2 owners

Chain of control

  1. BLUESTONE 80%
  2. PHARMANEXT

Highest known parent: BLUESTONE. The sources do not say who stands above it.

Owners 2

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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.

Recognitions · licences · registrations

Food safety, FASFC

1 site
Mouscron/Moeskroen2.285.007.917
1 permission
Apotheek (LM>3 maand) · since 26-01-2023

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Of 5,219 companies in this sector we hold annual accounts for 3,862. 3,406 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPrivate limited company
Founded28-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
70200Business and other management consultancy
Contact
E-mail pharmaciemoulin@gmail.comMouscron
Phone 056/855555Mouscron
E-invoicing
Reachable via Peppol
Peppol ID 0208:0705998068
Also 9925:BE0705998068
Registered 09-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 1 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

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