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NEOGEN

Active
Public limited companyfounded 199134 years activeMarie Curiesquare 50, 1070 Anderlecht, BelgiumKBO/BCE: BE 0445.922.856
Summary

NEOGEN has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €11.7m and a net result of €3.0m. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 83% of 51 sector peers (NACE 21, fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

Overview

Activity
Manufacture of basic pharmaceutical products and pharmaceutical preparations
NACE 21201
#6 company by equity in the Brussels-Capital Region, Pharmaceuticals sector1 site
Size
€15.2mtotal assets 2024
Equity
€11.7m
Profit
€3.0m
Financial health
72 Healthy Checked score 2024
Bankruptcy probabilitywithin 12 months
0.6%
Structure
Parent
A.forall Development · 100%
  • Cellular Consulting LDADirector · permanent representative Bruno Febra
  • LMDC Advisory s.r.o.Daily manager · permanent representative Libor Matyásek
Accounts 69 days overdue2 of 20 deeds read
Why 72- Liquidity: current ratio 41.91, cash €48,607- Figures for FY 2024 (filed 25-09-2025)- 1 financial year not filed after the legal deadline; latest accounts 56 days late; 1 of the last 3 late+ Founded in 1991Show the evidence

Checked score

Score 2024
72 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 84% of its sector peers (NACE 21)
Financial strength · tick = 2023
Strong
Solvency 100+9
equity 76.9% of total assets
Liquidity 50-1
short-term debt 2.2% · cash 0.3%
Profitability 94-2
return on assets 19.9%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (26 companies)
Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● unchanged vs 11-2024lowest value 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: 0.1%▲ +0.1 percentage points vs 06-2025 08-2025: 0.2%▲ +0.1 percentage points vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.3%▲ +0.1 percentage points vs 07-2026 09-2026: 0.4%▲ +0.1 percentage points vs 08-2026 10-2026: 0.6%▲ +0.2 percentage points vs 09-2026highest value
Credit up to €800,000 at 30 days acceptable
Liquidity ample (current ratio 41.91 against 13.9 in 2023; short-term debt: 2.2% and cash: 0.3% of total assets), and 23.1% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 21): better than 91% on solvency, 76% on liquidity, 90% on profitability and 78% on growth.

The bankruptcy probability was computed on 07-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 41.91, cash €48,607
NBB · annual accounts
raises risk · Figures for FY 2024 (filed 25-09-2025)
NBB · annual accounts
lowers risk · Founded in 1991
How long the company has existed counts in the probability; how much depends on the rest of its profile.
KBO
raises risk · 1 financial year not filed after the legal deadline; latest accounts 56 days late; 1 of the last 3 late
NBB · filings
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-09-2025, 56 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 filings
Deviation from the deadline
2025
not confirmed
2024
56 days late
2023
22 days early
2022
29 days late
2021
26 days early
2020
40 days late
2019
17 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 10 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Resignation: LMDC GmbH (director)Permanent representatives: Libor Matyásek and…
  2. Reappointments: LMDC GmbH (director) and Cellular…Permanent representatives: Libor Matyasek and…
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Positive: Among the best 5% on net resultsector median €17,705 · 51 companies €3.0m View
  • Caution: Accounts not fileddeadline was 31-07-2026 69 days late View
  • Controlled by A.forall Developmentultimately: A.forall Group 100% View
  • Board changedlatest change 01-01-2026 · 2 in office 1 joined · 1 left View
  • Positive: Equity rose in 2024from €8.7m to €11.7m ▲ 34.8% View

By topic

Financials

Fiscal year
2024
Total assets
€15.2m
Profit
€3.0m
Solvency
76.9%
Turnover▲ 61.3%
Net result
20182020
Go to Financials

Board & ownership

Board
2 members
Parent
A.forall Development · 100%
  • Cellular Consulting LDADirector
  • LMDC Advisory s.r.o.Daily manager
Go to Board & ownership

Timeline

Events
19
Since
2016
  1. 31-12-2024Highest result since 2018
  2. 31-12-2024Liquidity triples
  3. 31-12-2024Equity above €10m
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of basic pharmaceutical products and pharmaceutical preparationsNACE 21201
Founded
09-12-1991
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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