FEBELCO
ActiveFEBELCO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €103.58M and a net result of €4.42M. Equity is shrinking by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 30% of 4860 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability55▲+2
Solvency52▼-5
Growth37=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity tight (current ratio 1.19 against 1.2 in 2024; short-term debt: 62.6% and cash: 0.1% of total assets), and 72.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
27.1%
Return on assets
1.2%
Age of the figures
9 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 20-05-2026, 72 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
72 d early
2024
44 d early
2023
27 d early
2022
49 d early
2021
34 d early
← 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory
Turnover
€1.79B▲ 4.2%
2024 · €1.72B
2018: €1.39B
2019: €1.39B
2020: €1.44B
2021: €1.59B
2022: €1.65B
2023: €1.69B
2024: €1.72B
2018 → 2025
EBIT margin
0.4%=
2024 · 0.5%
2018: 0.7%
2019: 0.7%
2020: 0.6%
2021: 0.7%
2022: 0.4%
2023: 0.5%
2024: 0.5%
2018 → 2025
Net result
€4.42M▲ 5.6%
2024 · €4.18M
2018: €7.39M
2019: €4.38M
2020: €4.82M
2021: €7.03M
2022: €1.05M
2023: €7.28M
2024: €4.18M
2018 → 2025
Working capital
€46.03M▲ 8.2%
2024 · €42.54M
2018: €57.24M
2019: €46.81M
2020: €42.54M
2021: €34.43M
2022: €26.28M
2023: €23.37M
2024: €42.54M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.59B-€1.65B▲ 3.5%€1.69B▲ 2.8%€1.72B▲ 1.4%€1.79B▲ 4.2%
Equity€142.38M-€129.44M▼ 9.1%€124.59M▼ 3.7%€116.11M▼ 6.8%€103.58M▼ 10.8%
Operating result€11.85M-€6.64M▼ 44.0%€8.07M▲ 21.6%€7.88M▼ 2.4%€7.66M▼ 2.8%
Net result€7.03M-€1.05M▼ 85.1%€7.28M▲ 595%€4.18M▼ 42.5%€4.42M▲ 5.6%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €381.86M
Fixed assets
€96.86M▼ 12.8%
Current assets
€285.00M▲ 10.9%
Equity and liabilities €381.86M
Equity
€103.58M▼ 10.8%
Provisions
€4.91M▲ 2.5%
Debt
€273.37M▲ 10.6%
The debt ratio rises from 67.1% to 71.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€15.07M▲
2024 · €14.93M
Cash flow
€11.83M▲
2024 · €11.24M
Solvency
27.1%▼
2024 · 31.6%
Current ratio
1.19▼
2024 · 1.20
Quick ratio
0.66▼
2024 · 0.66
Debt / equity
2.64▲
2024 · 2.13
ROE
4.3%▲
2024 · 3.6%
ROA
1.2%▲
2024 · 1.1%
Interest coverage
8.27▲
2024 · 5.80
Debt
€273.37M▲
2024 · €247.10M
Debt ≤ 1 year
€238.97M▲
2024 · €214.41M
Debt > 1 year
€29.95M▲
2024 · €27.62M
Income taxes
€2.17M▲
2024 · €2.10M
Staff costs
€64.89M▲
2024 · €61.83M
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€368.00M€381.86M▲
Fixed assets21/28€111.06M€96.86M▼
Intangible fixed assets21€6.75M€7.01M▲
Tangible fixed assets22/27€44.89M€43.79M▼
Land and buildings22€37.86M€36.06M▼
Plant, machinery and equipment23€5.70M€5.98M▲
Furniture and vehicles24€1.33M€1.75M▲
Financial fixed assets28€59.42M€46.06M▼
Affiliated companies280/1€59.32M€45.96M▼
Participating interests280€29.51M€29.51M=
Amounts receivable281€29.81M€16.46M▼
Companies linked by participating interests282/3€102k€102k=
Participating interests282€102k€102k=
Current assets29/58€256.95M€285.00M▲
Amounts receivable after more than one year29€1.71M€877k▼
Trade receivables290€1.71M€877k▼
Stocks and contracts in progress3€114.64M€127.86M▲
Stocks30/36€114.64M€127.86M▲
Goods purchased for resale34€114.64M€127.86M▲
Amounts receivable within one year40/41€136.60M€151.51M▲
Trade receivables40€120.23M€135.94M▲
Other amounts receivable41€16.37M€15.57M▼
Current investments50/53€67k€67k=
Other investments51/53€67k€67k=
Cash at bank and in hand54/58€297k€226k▼
Deferred charges and accrued income490/1€3.63M€4.46M▲
Equity and liabilities
Total equity and liabilities10/49€368.00M€381.86M▲
Equity10/15€116.11M€103.58M▼
Contributions10/11€73.94M€68.99M▼
Reserves13€42.11M€34.54M▼
Tax-exempt reserves132€1.48M€1.25M▼
Distributable reserves133€40.62M€33.29M▼
Investment grants15€61k€54k▼
Provisions and deferred taxes16€4.79M€4.91M▲
Provisions for liabilities and charges160/5€4.30M€4.50M▲
Pensions and similar obligations160€0-
Environmental obligations163€0-
Other liabilities and charges164/5€4.30M€4.50M▲
Deferred taxes168€489k€414k▼
Amounts payable17/49€247.10M€273.37M▲
Amounts payable after more than one year17€27.62M€29.95M▲
Financial debts170/4€27.62M€29.95M▲
Credit institutions173€27.62M€29.95M▲
Amounts payable within one year42/48€214.41M€238.97M▲
Current portion of amounts payable after more than one year42€2.38M€4.02M▲
Financial debts43€28.54M€44.06M▲
Credit institutions430/8€28.54M€44.06M▲
Trade debts44€148.72M€156.60M▲
Suppliers440/4€148.72M€156.60M▲
Taxes, remuneration and social security45€13.68M€15.72M▲
Taxes450/3€2.87M€5.78M▲
Remuneration and social security454/9€10.81M€9.93M▼
Other amounts payable47/48€21.08M€18.59M▼
Accrued charges and deferred income492/3€5.07M€4.45M▼
Income statement
Code20242025
Operating income70/76A€1.72B€1.80B▲
Turnover70€1.72B€1.79B▲
Other operating income74€6.30M€8.12M▲
Non-recurring operating income76A€32k€1.68M▲
Operating charges60/66A€1.72B€1.79B▲
Goods for resale, raw materials and consumables60€1.61B€1.68B▲
Purchases600/8€1.61B€1.69B▲
Change in stocks: decrease (increase)609€-3.47M€-13.72M▼
Services and other goods61€36.09M€38.12M▲
Remuneration, social security and pensions62€61.83M€64.89M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7.05M€7.41M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-140k€526k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€80k€195k▲
Other operating charges640/8€505k€769k▲
Non-recurring operating charges66A-€68k
Operating profit (loss)9901€7.88M€7.66M▼
Financial income75/76B€4.18M€3.00M▼
Recurring financial income75€4.18M€3.00M▼
Income from financial fixed assets750€0-
Income from current assets751€2.93M€1.94M▼
Other financial income752/9€1.25M€1.06M▼
Financial charges65/66B€5.85M€4.15M▼
Recurring financial charges65€5.85M€4.15M▼
Debt charges650€2.57M€1.82M▼
Other financial charges652/9€3.27M€2.32M▼
Profit (loss) for the period before taxes9903€6.21M€6.52M▲
Transfer from deferred taxes780€75k€75k=
Income taxes67/77€2.10M€2.17M▲
Taxes670/3€2.10M€2.20M▲
Tax adjustments and reversals of tax provisions77-€27k
Profit (loss) for the period9904€4.18M€4.42M▲
Transfer from tax-exempt reserves789€234k€229k▼
Profit (loss) for the period to be appropriated9905€4.42M€4.65M▲
Appropriation of the result
Profit (loss) to be appropriated9906€4.42M€4.65M▲
Transfer to equity691/2€4.42M€4.65M▲
To other reserves6921€4.42M€4.65M▲
Social balance
Average headcount (FTE)9087997.8948.1▼
The notes to these accounts (103 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
28-07
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation · Permanent representative10 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation · Permanent representative10 facts ▸
- General meeting, 18/05/2026
- Director resignation, BV ALEXO (bestuurder)
- Permanent representative, Olivier Delaere
- Director resignation, Johan Lamoot (bestuurder voor de Erkende Regio West-Vlaanderen)
- Director resignation, Hannelore Walcarius (bestuurder voor de Erkende Regio provincies Namen, Luxemburg, Luik en Henegouwen)
- Director appointment, BV KST Pharma (bestuurder voor de Erkende Regio provincies Namen, Luxemburg, Luik en Henegouwen)
- Permanent representative, Koen Straetmans
- Board meeting, 18/05/2026
- Director appointment, BV KST Pharma (gedelegeerd bestuurder)
- Permanent representative, Eric Van Nueten
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2022
31-12
Financial
Weakest financial yearnet €1.05M ▼85.1%
Net result drops to €1.05M, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 directors, no change since 2026
KST Pharma
CurrentBestuurder voor de erkende regio provincies namen, luxemburg, luik en henegouwen · since 18-05-2026 · Private limited company · perm. rep.: Koen Straetmans
18-05-2026
KST Pharma: Appointed as Bestuurder voor de erkende regio provincies namen, luxemburg, luik en henegouwen
18-05-2026
KST Pharma: Appointed as Managing director
18-05-2026
BV ALEXO: Resigned as Director
18-05-2026
Hannelore Walcarius: Resigned as Bestuurder voor de erkende regio provincies namen, luxemburg, luik en henegouwen
18-05-2026
Johan Lamoot: Resigned as Bestuurder voor de erkende regio west vlaanderen
Location & real-estate footprint
Registered office, Sint-Niklaas · 8 establishment units since 2002
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.
Eigenlostraat 19100 Sint-NiklaasGround area
14.2 ha
Building footprint
7.4 ha
Volume, LiDAR
157,429 m³
7 parcels, Flanders · tallest building 9.5 m, ±3 floors. Linked by address, not a title deed.
8 establishment units
FEBELCO
since 20022.078.579.049
FEBELCO
since 20022.078.579.742
FEBELCO
since 20022.078.579.643
FEBELCO
since 20022.078.579.148
FEBELCO
since 20022.078.579.544
FEBELCO
since 20022.078.579.346
Show 2 more locations
FEBELCO
since 20142.226.041.914
FEBELCO
since 20212.318.387.595
7 parcels
Flanders
7
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71462D0648/00M002 | Flanders | 5.5 ha | 1 · 2.8 ha | - |
| 36494D0117/00M002 | Flanders | 3.0 ha | 1 · 1.2 ha | 6.3 m · 2 fl. |
| 46442C1162/00D000 | Flanders | 1.5 ha | 1 · 7,482 m² | - |
| 31810N0615/00C002 | Flanders | 1.4 ha | 1 · 8,893 m² | 9.0 m · 3 fl. |
| 11050A0145/00F000 | Flanders | 1.2 ha | 1 · 1.1 ha | - |
| 24055A0010/00R000 | Flanders | 1.1 ha | 1 · 5,878 m² | 9.5 m · 2 fl. |
| 46442C1177/02D000 | Flanders | 5,955 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 6
7 of 7 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared corporate director
→
Ownership & control
1 partyControl over this companysits on this company's board1
2 subsidiaries · 1 location
controls
FEBELCOBE 0458.780.306
Public money · subsidies and aid
Flemish government
2022 to 2025 · 19 entries · 355,851 EUR awarded · 355,840 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 6 | 72,051 EUR | 75,423 EUR |
| 2024 | 6 | 90,741 EUR | 94,252 EUR |
| 2023 | 4 | 107,337 EUR | 100,445 EUR |
| 2022 | 3 | 85,722 EUR | 85,720 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Individueel Maatwerk
Ecologiepremie+
Werkbaarheidscheque (stopgezet)
Show 2 more
Premie kwalificerend werkplekleren
Aanwervingsincentive voor langdurig werkzoekenden (AWI) - Stopgezet
Recognitions · licences · registrations
Food safety, FASFC
8 sitesFrameries2.318.387.595
Brugge2.078.579.148
Heusden-Zolder2.226.041.914
Izegem2.078.579.346
Show 4 more sites
Sint-Niklaas2.078.579.643
Wijnegem2.078.579.049
Kortenberg2.078.579.544
Sint-Niklaas2.078.579.742
Dual-learning approval
8 live approvalsLogistiek assistent magazijn (vwo)
Logistiek assistent magazijn duaal (so)
Logistiek duaal (so)
Logistiek duaal (so)
Magazijnmedewerker (vwo)
Magazijnmedewerker (vwo)
Show 2 more
Magazijnmedewerker duaal (so)
Magazijnmedewerker duaal (so)
Legal Entity Identifier
699400QRVYYFPYZ0TI12
Parcel delivery
Notified to the BIPT
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Of 1,898 companies in sector 46460 we hold annual accounts for 1,116. 117 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formCooperative company
Founded11-09-1996
Fiscal year end31-12
Activities, NACEBEL
46460Wholesale of pharmaceutical and medical goods
46389Wholesale of other food products
46442Wholesale trade
46450Wholesale of perfume and cosmetics
51384
51442
Sources
Crossroads Bank for EnterprisesNational Bank · 53 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:aandeelhouders@febelco.be
Phone:+32 3 780 80 30