THEMAPHARMA
ActiveTHEMAPHARMA has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.71M and a net result of €-14k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 37% of 31616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▼-1
Solvency65▲+5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity ample (current ratio 10.29 against 3.26 in 2024; short-term debt: 3.7% and cash: 8.8% of total assets), but 60.1% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
39.9%
Return on assets
-0.3%
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
29 d late
2023
30 d late
2022
59 d late
2021
31 d late
2020
124 d late
2019
87 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-14k
2024 · €20k
2018: €167k
2019: €158k
2020: €1.10M
2021: €-2k
2022: €-21k
2023: €-16k
2024: €20k
2018 → 2025
Working capital
€1.45M▼ 0.5%
2024 · €1.46M
2018: €451k
2019: €491k
2020: €2.67M
2021: €2.34M
2022: €1.64M
2023: €1.45M
2024: €1.46M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.74M-€1.71M▼ 1.2%€1.70M▼ 1.0%€1.72M▲ 1.2%€1.71M▼ 0.8%
Operating result€35k-€17k▼ 50.2%€20k▲ 18.1%€81k▲ 297%€30k▼ 63.2%
Net result€-2k-€-21k▼ 1,080%€-16k▲ 21.2%€20k€-14k
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 63% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.28M
Fixed assets
€2.67M▼ 4.8%
Current assets
€1.61M▼ 23.6%
Equity and liabilities €4.28M
Equity
€1.71M▼ 0.8%
Provisions
€233k▼ 3.9%
Debt
€2.34M▼ 20.6%
The debt ratio falls from 60.1% to 54.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€165k▼
2024 · €216k
Cash flow
€121k▼
2024 · €155k
Solvency
39.9%▲
2024 · 35.0%
Current ratio
10.29▲
2024 · 3.26
Quick ratio
10.29▲
2024 · 3.26
Debt / equity
1.37▼
2024 · 1.72
ROE
-0.8%▼
2024 · 1.2%
ROA
-0.3%▼
2024 · 0.4%
Interest coverage
5.98▼
2024 · 7.47
Debt
€2.34M▼
2024 · €2.95M
Debt ≤ 1 year
€156k▼
2024 · €645k
Debt > 1 year
€2.18M▼
2024 · €2.30M
Income taxes
€25k▼
2024 · €43k
Staff costs
€2k
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€4.91M€4.28M▼
Fixed assets21/28€2.80M€2.67M▼
Intangible fixed assets21€194k€162k▼
Tangible fixed assets22/27€2.61M€2.50M▼
Land and buildings22€2.59M€2.49M▼
Furniture and vehicles24€17k€10k▼
Financial fixed assets28€2k€2k=
Current assets29/58€2.11M€1.61M▼
Amounts receivable within one year40/41€1.79M€1.23M▼
Trade receivables40€445k€158k▼
Other amounts receivable41€1.35M€1.07M▼
Cash at bank and in hand54/58€312k€379k▲
Deferred charges and accrued income490/1€86€330▲
Equity and liabilities
Total equity and liabilities10/49€4.91M€4.28M▼
Equity10/15€1.72M€1.71M▼
Contributions10/11€19k€19k=
Reserves13€1.70M€1.69M▼
Tax-exempt reserves132€968k€931k▼
Distributable reserves133€732k€756k▲
Provisions and deferred taxes16€242k€233k▼
Deferred taxes168€242k€233k▼
Amounts payable17/49€2.95M€2.34M▼
Amounts payable after more than one year17€2.30M€2.18M▼
Financial debts170/4€2.30M€2.18M▼
Amounts payable within one year42/48€645k€156k▼
Current portion of amounts payable after more than one year42€116k€121k▲
Trade debts44€35k€5k▼
Suppliers440/4€35k€5k▼
Advances received on contracts in progress46€494k-
Taxes, remuneration and social security45-€30k
Taxes450/3-€30k
Accrued charges and deferred income492/3€3k€2k▼
Income statement
Code20242025
Remuneration, social security and pensions62-€2k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€135k€135k▼
Other operating charges640/8€17k€10k▼
Gross operating margin9900€233k€177k▼
Operating profit (loss)9901€81k€30k▼
Financial income75/76B€1k€122▼
Recurring financial income75€1k€122▼
Financial charges65/66B€29k€28k▼
Recurring financial charges65€29k€28k▼
Profit (loss) for the period before taxes9903€54k€2k▼
Transfer from deferred taxes780€9k€9k=
Income taxes67/77€43k€25k▼
Profit (loss) for the period9904€20k€-14k▼
Transfer from tax-exempt reserves789€37k€37k=
Profit (loss) for the period to be appropriated9905€58k€24k▼
Appropriation of the result
Profit (loss) to be appropriated9906€58k€24k▼
Transfer to equity691/2€58k€24k▼
To other reserves6921€58k€24k▼
The notes to these accounts (15 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 · micro schema · 31 days late
2025
31-12
Financial
Liquidity triplescurrent ratio 10.29
Current ratio from 3.26 to 10.29; short-term debt falls from €645k to €156k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €20k
Net result €20k after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 14.16
Current ratio from 6.82 to 14.16; short-term debt falls from €458k to €178k.
02-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 124 days late
2020
31-12
Financial
Highest result since 2018net €1.10M ▲592%
Net result €1.10M, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 6.82
Current ratio from 2.06 to 6.82; short-term debt falls from €463k to €458k.
31-12
Financial
Equity above €1MEq €1.74M ▲170%
3 profitable years in a row build equity to €1.74M.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 87 days late
2019
31-12
Financial
Equity above €500kEq €642k ▲32.7%
2 profitable years in a row build equity to €642k.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Les Bons Villers · 1 establishment unit since 1988
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.
Rue d'En-dessous(MEL) 416211 Les Bons VillersGround area
1,236 m²
Building footprint
85 m²
Parcel 52046B0404/02E000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue d'En-dessous(MEL) 41, 6211 Les Bons Villers
since 19882.041.291.457
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52046B0404/02E000 | Wallonia | 1,236 m² | 1 · 85 m² | - |
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.
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Of 82,554 companies in sector 70200 we hold annual accounts for 52,573. 21,991 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-12-1988
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
68121Development of residential building projects
68310Real estate agency activities
68311Real estate activities
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.