ACTIVE

ORTHOSPINE

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Financial year 2025 · closed on 31/12/2025

Net result

-95,1 k €

+78.7% YoY

Revenue

46,1 k €

-97.3% YoY

Equity

-232,8 k €

-69.0% YoY

Workforce

12,1 ETP

-16.6% YoY

What does ORTHOSPINE do?

ORTHOSPINE is a Public limited company incorporated in 1968. Its main activity is: Wholesale of pharmaceutical goods. Its registered office is in Mechelen. It employs on average 12,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.015.402

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Vaartdijk 90
2800 Mechelen · FlandreSee on map

Contributed capital

574 438,00 €

Latest accounts

31/12/2025

Average workforce

12,1 ETP

Activities (NACE)

46460Wholesale of pharmaceutical goods· main 46460Wholesale of pharmaceutical goods 51460Air transport

Joint committees (3)

Signals

Positive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2017		2016		2014		2013		2012		2010		2009		2009		2008
Income statement
Revenue	46,1 k €	-97.3%	1,7 M €	-37.7%	2,8 M €	-93.2%	41 M €	-14.9%	48,2 M €	+22.6%	39,3 M €	-11.9%	44,6 M €	+4.6%	42,6 M €	+12.0%	38,1 M €	+4.3%	36,5 M €	+1.7%	35,9 M €	+7.2%	33,4 M €	+39.6%	24 M €	-21.7%	30,6 M €	+11.3%	27,5 M €
EBITDA	15,2 k €	+103%	-517,4 k €	-251%	-147,3 k €	-141%	361,5 k €	+314%	-168,7 k €	-107%	2,3 M €	+120%	1,1 M €	-23.2%	1,4 M €	-4.3%	1,4 M €	+94.3%	742,7 k €	-24.6%	984,7 k €	-22.2%	1,3 M €	+19.3%	1,1 M €	-37.5%	1,7 M €	-20.2%	2,1 M €
Operating result	-87,5 k €	+79.2%	-420,2 k €	-74.9%	-240,2 k €	+94.6%	-4,4 M €	-487%	-750,9 k €	-136%	2,1 M €	+133%	888,8 k €	+10.6%	803,5 k €	+33.7%	601,2 k €	-20.7%	758,5 k €	+16.2%	652,6 k €	-21.7%	833,6 k €	+10.3%	755,7 k €	-37.9%	1,2 M €	+42.0%	856,8 k €
Net result	-95,1 k €	+78.7%	-446,5 k €	-175%	-162,6 k €	+96.5%	-4,7 M €	-357%	-1 M €	-181%	1,3 M €	+237%	375 k €	-9.2%	412,9 k €	+29.8%	318,1 k €	-6.1%	338,8 k €	-16.2%	404,5 k €	-14.3%	471,7 k €	-16.8%	566,9 k €	-55.0%	1,3 M €	+361%	273 k €
Balance sheet
Equity	-232,8 k €	-69.0%	-137,8 k €	-145%	308,7 k €	-91.6%	3,7 M €	-56.0%	8,4 M €	-10.9%	9,4 M €	+36.7%	6,9 M €	+5.7%	6,5 M €	+16.7%	5,6 M €	+146%	2,3 M €	+17.5%	1,9 M €	+22.0%	1,6 M €	+42.4%	1,1 M €	+104%	545,4 k €	+122%	-2,5 M €
Total assets	267,4 k €	-79.2%	1,3 M €	-43.3%	2,3 M €	-89.2%	21 M €	-19.6%	26,1 M €	+9.3%	23,9 M €	+9.3%	21,9 M €	-1.8%	22,3 M €	-2.5%	22,8 M €	+9.5%	20,9 M €	+6.9%	19,5 M €	-1.3%	19,8 M €	+16.6%	17 M €	+6.2%	16 M €	+1.8%	15,7 M €
Cash	67,6 k €	-56.8%	156,3 k €	+146%	63,5 k €	-95.8%	1,5 M €	+3344%	43,5 k €	+2009%	2,1 k €	-99.4%	330,2 k €	-74.3%	1,3 M €	-14.3%	1,5 M €	+16.7%	1,3 M €	-17.9%	1,6 M €	+237%	465,3 k €	+19.2%	390,2 k €	+8.6%	359,2 k €	-37.2%	571,9 k €
Debts	403,6 k €	-71.7%	1,4 M €	-27.3%	2 M €	-87.8%	16,1 M €	-9.0%	17,7 M €	+24.1%	14,3 M €	-1.9%	14,5 M €	-3.0%	15 M €	-10.7%	16,8 M €	-8.4%	18,3 M €	+6.8%	17,2 M €	+0.8%	17 M €	+16.0%	14,7 M €	+1.9%	14,4 M €	-15.3%	17 M €
Other
Workforce	12,1 ETP	-16.6%	14,5 ETP	-68.1%	45,5 ETP	-47.0%	85,8 ETP	-3.1%	88,5 ETP	-2.4%	90,7 ETP	-6.0%	96,5 ETP	-2.8%	99,3 ETP	+7.1%	92,7 ETP	-0.9%	93,5 ETP	-0.4%	93,9 ETP	-4.2%	98,0 ETP	+4.3%	94,0 ETP	-0.1%	94,1 ETP	+4.9%	89,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 31 ended

Active mandates

Diogo Santos de Lima

Director · since 12 décembre 2025 · until 17 avril 2031

Active

Lana Gybels

Director · since 12 décembre 2025 · until 17 avril 2031

Active

D&Q FINEXPERTS

Director · since 28 février 2024 · until 12 décembre 2025 · 0667.576.566

Represented by Kristof Marivoet

Active

FH IMPACT MANAGEMENT

Director · since 28 février 2024 · until 12 décembre 2025 · 0797.340.691

Represented by Frédéric Hoffmann

Active

LEVICO

Director · since 07 septembre 2023 · until 07 septembre 2029 · 0881.737.522

Represented by Geert Kuys

Active

Ended mandates

D&Q FINEXPERTS

Director · since 28 février 2024 · until 28 février 2030 · 0667.576.566

Represented by Kristof Marivoet

Ended

FH IMPACT MANAGEMENT

Director · since 28 février 2024 · until 28 février 2030 · 0797.340.691

Represented by Frédéric Hoffmann

Ended

Duo-Med BidCo B.V.

Director · since 25 mai 2022 · until 28 février 2024

Represented by Kristof Marivoet

Ended

Duo-Med BidCo B.V.

Director · since 25 mai 2022 · until 24 mai 2028

Represented by Kristof Marivoet

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	06/07/2026	28/07/2025	26/09/2024	28/08/2023	23/05/2022	27/04/2021
General meeting	29/06/2026	30/06/2025	23/09/2024	30/06/2023	21/04/2022	15/04/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/06/2026	06/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	28/07/2025	Dutch	PDF
Full model	31/12/2023	23/09/2024	26/09/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	28/08/2023	Dutch	PDF
Full model	31/12/2021	21/04/2022	23/05/2022	Dutch	PDF
Full model	31/12/2020	15/04/2021	27/04/2021	Dutch	PDF
Full model	31/12/2019	18/06/2020	08/07/2020	French	PDF
Full model	31/12/2018	20/06/2019	01/07/2019	French	PDF
Full model	31/12/2017	21/06/2018	27/06/2018	French	PDF
Full model	31/12/2016	15/06/2017	23/06/2017	French	PDF
Full model	31/12/2015	11/08/2016	12/08/2016	French	PDF
Full model	31/12/2014	18/06/2015	07/07/2015	French	PDF
Full model	31/12/2013	19/06/2014	14/07/2014	French	PDF
Full model	31/12/2012	20/06/2013	18/07/2013	French	PDF
Full model	31/12/2011	21/06/2012	03/07/2012	French	PDF
Full model	31/12/2010	16/06/2011	12/07/2011	French	PDF
Full model	31/12/2009	17/06/2010	19/07/2010	French	PDF
Full model	31/03/2009	25/09/2009	12/10/2009	French	PDF
Full model	31/03/2008	12/03/2009	17/03/2009	French	PDF
Full model	31/03/2007	14/12/2007	21/05/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 31 ended

Active mandates

Diogo Santos de Lima

Director · since 12 décembre 2025 · until 17 avril 2031

Active

Lana Gybels

Director · since 12 décembre 2025 · until 17 avril 2031

Active

D&Q FINEXPERTS

Director · since 28 février 2024 · until 12 décembre 2025 · 0667.576.566

Represented by Kristof Marivoet

Active

FH IMPACT MANAGEMENT

Director · since 28 février 2024 · until 12 décembre 2025 · 0797.340.691

Represented by Frédéric Hoffmann

Active

LEVICO

Director · since 07 septembre 2023 · until 07 septembre 2029 · 0881.737.522

Represented by Geert Kuys

Active

Ended mandates

D&Q FINEXPERTS

Director · since 28 février 2024 · until 28 février 2030 · 0667.576.566

Represented by Kristof Marivoet

Ended

FH IMPACT MANAGEMENT

Director · since 28 février 2024 · until 28 février 2030 · 0797.340.691

Represented by Frédéric Hoffmann

Ended

Duo-Med BidCo B.V.

Director · since 25 mai 2022 · until 28 février 2024

Represented by Kristof Marivoet

Ended

Duo-Med BidCo B.V.

Director · since 25 mai 2022 · until 24 mai 2028

Represented by Kristof Marivoet

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office11/05/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates08/01/2026
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring31/07/2023
BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring09/05/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring23/03/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-95,1 k €↑
2024
Annual accounts 2024-446,5 k €↓
2023
Annual accounts 2023-162,6 k €↑
2022
Annual accounts 2022-4,7 M €↓
2022
Name changeOrthospine nv
2021
Annual accounts 2021-1 M €↓
2021
Name changeHospithera
2020
Annual accounts 20201,3 M €↑
2017
Annual accounts 2017375 k €↓
2016
Annual accounts 2016412,9 k €↑
2014
Annual accounts 2014318,1 k €↓
2013
Annual accounts 2013338,8 k €↓
2012
Annual accounts 2012404,5 k €↓
2010
Annual accounts 2010471,7 k €↓
2009
Annual accounts 2009566,9 k €↓
2009
Annual accounts 20091,3 M €↑
2008
Annual accounts 2008273 k €
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

ORTHOSPINE

Overview

What does ORTHOSPINE do?

Trend over 15 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline