Transpharma International

Active

Private limited companyfounded 20215 yrs activeWaterkeringstraat 1, 9320 Aalst, BelgiumKBO/BCE: BE 0765.495.888

Summary

The computed 12-month bankruptcy probability of Transpharma International is 2.1% (moderate). The 2025 annual accounts show equity of €662k and a net result of €-50k. Equity is growing by ~30.7% per year across the filed fiscal years. Its solvency ranks better than 38% of 721 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

47 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability37▼-42

Solvency51▼-13

Growth52▼-26

Track record94

Bankruptcy probability, 12 months

2.1% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €30k at 30 days acceptable

Liquidity ample (current ratio 1.61 against 1.5 in 2024; short-term debt: 49.1% and cash: 12.5% of total assets), but 74.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Three signals. The signal on the left, the evidence on the right.

+raises risk○neutral

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

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 52

Relative position

BE, all sectors

reference

Sector 52

higher

← fewer bankruptcies more bankruptcies →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

30 d early

2024

17 d early

2023

41 d late

2022

31 d late

2021

149 d late

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 deadline

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

Financials · fiscal year 2025, abbreviated schema

Equity

€662k▼ 7.0%

2024 · €712k

2021: €23k 2022: €338k 2023: €564k 2024: €712k

2021 → 2025

Total assets

€2.57M▲ 41.2%

2024 · €1.82M

2021: €1.82M 2022: €2.09M 2023: €2.64M 2024: €1.82M

2021 → 2025

Net result

€-50k

2024 · €147k

2021: €22k 2022: €315k 2023: €226k 2024: €147k

2021 → 2025

Working capital

€766k▲ 78.9%

2024 · €428k

2021: €-402k 2022: €292k 2023: €986k 2024: €428k

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€23k-€338k▲ 1,375%€564k▲ 67.0%€712k▲ 26.1%€662k▼ 7.0%

Operating result€34k-€477k▲ 1,284%€343k▼ 28.2%€245k▼ 28.5%€6k▼ 97.4%

Net result€22k-€315k▲ 1,338%€226k▼ 28.1%€147k▼ 34.9%€-50k

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen three years in a row; 2025 is 97% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.57M

21.1%

78.9%

Fixed assets €542k ▲ 0.8%

Current assets €2.03M ▲ 58.2%

Equity and liabilities €2.57M

25.8%

74.2%

Equity €662k ▼ 7.0%

Debt €1.91M ▲ 72.2%

Debt's share of the balance-sheet total rises from 60.9% to 74.2%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€132k▼

2024 · €328k

Cash flow

€75k▼

2024 · €230k

Current ratio

1.61▲

2024 · 1.50

Debt to equity

2.88▲

2024 · 1.56

ROE

-7.5%▼

2024 · 20.7%

ROA

-1.9%▼

2024 · 8.1%

Interest coverage

2.53▼

2024 · 8.95

Debt ≤ 1 year

€1.26M▲

2024 · €853k

Debt > 1 year

€619k▲

2024 · €109k

Income taxes

€5k▼

2024 · €63k

Staff costs

€2.20M▲

2024 · €1.83M

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines

Balance sheet Code20242025

Assets

Total assets20/58€1.82M€2.57M▲

Fixed assets21/28€537k€542k▲

Intangible fixed assets21€362k€306k▼

Tangible fixed assets22/27€24k€236k▲

Leasing and similar rights25€24k€236k▲

Financial fixed assets28€151k-

Current assets29/58€1.28M€2.03M▲

Amounts receivable within one year40/41€1.11M€1.64M▲

Trade receivables40€1.11M€1.57M▲

Other amounts receivable41€4k€67k▲

Cash at bank and in hand54/58€164k€320k▲

Deferred charges and accrued income490/1€3k€67k▲

Equity and liabilities

Total equity and liabilities10/49€1.82M€2.57M▲

Equity10/15€712k€662k▼

Contributions10/11€1k€1k=

Profit (loss) carried forward14€711k€661k▼

Amounts payable17/49€1.11M€1.91M▲

Amounts payable after more than one year17€109k€619k▲

Financial debts170/4-€163k

Other amounts payable178/9€109k€456k▲

Amounts payable within one year42/48€853k€1.26M▲

Current portion of amounts payable after more than one year42€237k€284k▲

Trade debts44€354k€734k▲

Suppliers440/4€354k€734k▲

Taxes, remuneration and social security45€262k€242k▼

Taxes450/3€18k€34k▲

Remuneration and social security454/9€244k€208k▼

Accrued charges and deferred income492/3€145k€27k▼

Income statement Code20242025

Non-recurring operating income76A€2k€16k▲

Remuneration, social security and pensions62€1.83M€2.20M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€83k€125k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€15k€-16k▼

Other operating charges640/8€1k€11k▲

Gross operating margin9900€2.18M€2.33M▲

Operating profit (loss)9901€245k€6k▼

Financial income75/76B€2k€880▼

Recurring financial income75€2k€880▼

Financial charges65/66B€37k€52k▲

Recurring financial charges65€37k€52k▲

Profit (loss) for the period before taxes9903€210k€-45k▼

Income taxes67/77€63k€5k▼

Profit (loss) for the period9904€147k€-50k▼

Profit (loss) for the period to be appropriated9905€147k€-50k▼

Appropriation of the result

Profit (loss) to be appropriated9906€711k€661k▼

Profit (loss) brought forward from the previous period14P€563k€711k▲

Social balance

Average headcount (FTE)908729.430.1▲

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Financial 4Gazette 1Filings 5

Next filing, fiscal year 2026, expected by 31-07-2027

2026

23-09

State Gazette act Restructuring · Miscellaneous

Merger · Shareholding · Net-asset statement33 facts ▸

Merger, cross border merger, de Verkrijgende Vennootschap het gehele vermogen van Verdwijnende Vennootschap 1, Verdwijnende Vennootschap 2, Verdwijnende Vennootschap 3…
Shareholding, direct or indirect
Shareholding, indirect via indirecte dochtervennootschap, artikel 2:333ha lid 1 Burgerlijk Wetboek
Shareholding, indirect via directe dochtervennootschap, artikel 2:333ha lid 1 Burgerlijk Wetboek
Shareholding, indirect via directe dochtervennootschap, artikel 2:333ha lid 1 Burgerlijk Wetboek
Shareholding, indirect via directe dochtervennootschap, artikel 2:333ha lid 1 Burgerlijk Wetboek
Other statement, no voting rights for others, geen vergaderrecht als bedoeld in artikel 2:227 lid 1 Burgerlijk Wetboek toekomt aan anderen dan de enig aandeelhouder van de Verkr…
Other statement, works council information and consultation, één of meer (dochtervennootschappen van één of meer) van de Fuserende Vennootschappen heeft een ondernemingsraad die…
Other statement, assumed 100% holding at decision time, op het moment waarop het besluit tot Fusie wordt genomen, alle geplaatste aandelen in het kapitaal van zowel de Verkrijge…
Other statement, parties to the merger
Other statement, electronic addresses for notifications, governance@bnl.yusen-logistics.com
Other statement, statutes of acquiring company, mr. T.M. Berkhout
+21 further facts in this act

01-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-50k ▼134%

Net result drops to €-50k, the lowest in the series.

14-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

10-09

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 41 days late

2023

31-12

Financial Equity above €500kEq €564k ▲67%

3 profitable years in a row build equity to €564k.

31-08

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 31 days late

2022

31-12

Financial Highest result since 2021net €315k ▲1338%

Operating result €477k, net result €315k, both a record.

31-12

Financial Equity above €200kEq €338k ▲1375%

2 profitable years in a row build equity to €338k.

27-12

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 149 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

14 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Aalst

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.

Waterkeringstraat 19320 Aalst

Ground area

4.6 ha

Building footprint

1.4 ha

Volume, LiDAR

11,340 m³

Parcel 41342B1729/00A000, Flanders · tallest building 17.7 m. Linked by address, not a title deed.

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
41342B1729/00A000	Flanders	4.6 ha	1 · 1.4 ha	17.7 m

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.

Articles of association

Purpose

De invoer, uitvoer, het bezit en de distributie van farmaceutische producten voor menselijk en diergeneeskundig gebruik, cosmetische producten, dieetproducten…

Full purpose (15 activities)

De invoer, uitvoer, het bezit en de distributie van farmaceutische producten voor menselijk en diergeneeskundig gebruik, cosmetische producten, dieetproducten, voedingssupplementen, geneesmiddelen op basis van planten, ziekenhuisproducten, medische hulpmiddelen en alle andere aanverwante producten
De vervaardiging, bewerking, secundaire verpakking, opslag en het vervoer van alle voormelde producten
Het verlenen van diensten in het algemeen, in verband met voormelde activiteiten, met inbegrip van en zonder beperking het opmaken van facturen en het herstellen van uitrustingen en instrumenten
Alle activiteiten die rechtstreeks of onrechtstreeks verband houden met de organisatie of uitvoering van vervoersactiviteiten, in al hun vormen en met alle middelen, over de weg, over het water of door de lucht, van pakketten, goederen of personen
De levering van expresvracht; de goederenbehandelingsactiviteiten
De organisatie van individuele en gegroepeerde zendingen, met inbegrip van het ophalen en de levering van goederen en het groeperen van zendingen
De activiteiten van douane-expediteurs
De activiteiten van vervoerscommissionairs, met inbegrip van zee- en luchtvracht; de activiteiten van expediteurs
Het bevrachten
De verhuur van voertuigen, verhuisactiviteiten en activiteiten van meubelbewaring, de opslag, logistiek en goederenbehandeling, evenals alle met het vervoer samenhangende nevenactiviteiten, zoals makelaardij of activiteiten als commissionair
De zee- en luchtbevrachting
Zij kan alle commerciële, industriële en financiële verrichtingen, zowel onroerende als roerende, uitvoeren die rechtstreeks of onrechtstreeks verband houden met haar doel of die de ontwikkeling ervan kunnen bevorderen, met uitzondering van verrichtingen met betrekking tot effecten en onroerende goederen die bij wet zijn voorbehouden aan banken en beursvennootschappen
De vennootschap kan alle mandaten uitoefenen met betrekking tot het bestuur, het beheer, de leiding, de controle en de vereffening van alle vennootschappen of ondernemingen
De vennootschap kan, door middel van inbreng in geld of in natura, fusie, inschrijving, deelneming, financiële tussenkomst of anderszins, deelnemingen nemen in andere bestaande of op te richten vennootschappen of ondernemingen, hetzij in België, hetzij in het buitenland, waarvan het vennootschapsdoel gelijkaardig of soortgelijk zou zijn aan het hare of van aard zou zijn haar doel te bevorderen
Zij kan eveneens alle leningen toestaan of alle door derden toegestane leningen waarborgen, met dien verstande dat de vennootschap geen enkele activiteit zal uitoefenen waarvan de uitoefening onderworpen zou zijn aan de wettelijke of reglementaire bepalingen die van toepassing zijn op kredietinstellingen en/of financiële instellingen

according to the deed of 23-09-2026

Structure & network

Acquisitions and mergers

1 transaction

Taken over by:YUSEN LOGISTICS (BENELUX) B.V.

BE 0502.518.792cross_border_merger · proposal · State Gazette act of 23-09-2026 (4 acts)

Capital and shareholders

Shareholders according to the acts

Stated in the act act of 23-09-2026 ↗

Yusen Logistics (Europe) B.V. all shares

The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.

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MEYERS

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ECDC LOGISTICS

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Of 3,190 companies in sector 52250 we hold annual accounts for 1,955. 1,330 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded22-03-2021

Fiscal year end31-12

Activities, NACEBEL 2025

49410Freight transport by road

52250Logistics services

Sources

Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers

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

Contact details

1 entry

Website:www.walden-group.com

Enterprise