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GlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKline

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Financial year 2025 · Closed on 31/12/2025

Net result7 M €+33,0 %over 1 year

Revenue241,2 M €+13,0 %over 1 year

Equity4,8 M €-57,5 %over 1 year

Workforce194,7 ETP+0,2 %over 1 year

Identity

Source · BCE/KBO

GlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKline is a Public limited company incorporated in 1968. Its main activity is: Wholesale of pharmaceutical goods. Its registered office is in Wavre. It employs on average 194,7 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0403.066.474
Incorporation: 01/01/1968
Legal form: Public limited company
Registered office: Avenue Fleming 20
1300 Wavre · WallonieSee on map
Contributed capital: 4 132 553,05 €
Latest accounts: 31/12/2025
Average workforce: 194,7 ETP

Activities (NACE)

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

Joint committees (3)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 22 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	241,2 M €	+13.0%	213,4 M €	+13.8%	187,5 M €	+20.1%	156,1 M €	+7.8%	144,8 M €
EBITDA	8,6 M €	+29.4%	6,7 M €	+15.5%	5,8 M €	+57.2%	3,7 M €	-29.7%	5,2 M €
Operating result	8,9 M €	+33.2%	6,7 M €	+11.7%	6 M €	+68.3%	3,6 M €	-20.1%	4,4 M €
Net result	7 M €	+33.0%	5,3 M €	+27.9%	4,1 M €	+70.5%	2,4 M €	-19.3%	3 M €
Balance sheet
Equity	4,8 M €	-57.5%	11,2 M €	-55.6%	25,4 M €	+19.5%	21,2 M €	-2.7%	21,8 M €
Total assets	58,2 M €	-3.9%	60,5 M €	+0.8%	60,1 M €	+24.5%	48,3 M €	-2.0%	49,2 M €
Cash	–		–		–		–		–
Debts	41,7 M €	+10.4%	37,7 M €	+70.5%	22,1 M €	+12.2%	19,7 M €	-7.1%	21,2 M €
Other
Workforce	194,7 ETP	+0.2%	194,3 ETP	+0.7%	192,9 ETP	+2.0%	189,2 ETP	-2.1%	193,3 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 53 ended

Active mandates

Director	Function	Mandate
Frédéric Martin	Managing director	01/07/2025 → 19/06/2026
Vincent Willemant	Director	01/04/2025 → 19/06/2026

Ended mandates

Director	Function	Mandate
Catherine Elhaut	Director	01/07/2023 → 21/02/2025
Catherine Elhaut	Director	01/07/2023 → 19/06/2026
Anne-Sophie Aernouts	Director	26/06/2023 → 19/06/2026
Emmanuelle Boishardy	Managing director	01/01/2023 → 19/06/2026

Other companies at this address

Avenue Fleming 20 1300 Wavre

Company	CBE no.
ViiV Healthcare● Active	0818.038.513

Full financial information

Source · NBB

	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	03/07/2026	04/07/2025	15/07/2024	11/07/2023	14/07/2022	01/07/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/06/2026	03/07/2026	French	PDF
Full model	31/12/2024	20/06/2025	04/07/2025	French	PDF
Full model	31/12/2023	21/06/2024	15/07/2024	French	PDF
Full model	31/12/2022	16/06/2023	11/07/2023	French	PDF
Full model	31/12/2021	17/06/2022	14/07/2022	French	PDF
Full model	31/12/2020	18/06/2021	01/07/2021	French	PDF
Full model	31/12/2019	19/06/2020	30/07/2020	French	PDF
Full model	31/12/2018	21/06/2019	28/06/2019	French	PDF
Full model	31/12/2017	15/06/2018	04/07/2018	French	PDF
Full model	31/12/2016	16/06/2017	18/08/2017	French	PDF
Full model	31/12/2015	17/06/2016	28/07/2016	French	PDF
Full model	31/12/2014	19/06/2015	28/07/2015	French	PDF
Full model	31/12/2013	20/06/2014	15/07/2014	French	PDF
Full model	31/12/2012	03/05/2013	27/06/2013	French	PDF
Full model	31/12/2011	04/05/2012	11/07/2012	French	PDF
Full model	31/12/2010	06/05/2011	27/07/2011	French	PDF
Full model	31/12/2009	06/05/2010	09/06/2010	French	PDF
Full model	31/12/2008	04/05/2009	19/06/2009	French	PDF
Full model	31/12/2007	05/05/2008	11/06/2008	French	PDF
Full modelCorrection	31/12/2006	04/05/2007	08/11/2007	French	PDF
Full model	31/12/2006	04/05/2007	04/06/2007	Dutch	PDF
Full model	31/12/2006	04/05/2007	21/05/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 M€

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 53 ended

Active mandates

Director	Function	Mandate
Frédéric Martin	Managing director	01/07/2025 → 19/06/2026
Vincent Willemant	Director	01/04/2025 → 19/06/2026

Ended mandates

Director	Function	Mandate
Catherine Elhaut	Director	01/07/2023 → 21/02/2025
Catherine Elhaut	Director	01/07/2023 → 19/06/2026
Anne-Sophie Aernouts	Director	26/06/2023 → 19/06/2026
Emmanuelle Boishardy	Managing director	01/01/2023 → 19/06/2026

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates28/05/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates07/04/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates04/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates24/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates17/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/09/2024
DEMISSIONS, NOMINATIONS
PDF

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

See the Business plan

Timeline

20/04/2026
nominationKoen Neijens · représentant permanent du commissaire
2025
Annual accounts 20257 M €↑
01/07/2025
nominationFrédéric Martin · administrateur et administrateur délégué
30/06/2025
nominationFrédéric Martin · administrateur(-délégué)
31/03/2025
nominationVincent Willemant · administrateur
21/02/2025
nominationEvelina Roegiers · administratrice
2024
Annual accounts 20245,3 M €↑
21/06/2024
reconductionDeloitte Bedrijfsrevisoren BV · commissaris
21/06/2024
reconductionDeloitte Réviseurs d'Entreprises SRL · commissaire
2023
Annual accounts 20234,1 M €↑
29/06/2023
nominationCatherine Elhaut · bestuurder
29/06/2023
nominationCatherine Elhaut · administratrice
26/06/2023
nominationAnne-Sophie Aernouts · bestuurder
26/06/2023
nominationAnne-Sophie Aernouts · administratrice
01/01/2023
nominationEmmanuelle Boishardy · administratrice et administratrice déléguée
2022
Annual accounts 20222,4 M €↓
2021
Annual accounts 20213 M €↓
2021
Name changeGlaxoSmithKline Pharmaceuticals
19/06/2021
nominationGert Vanhees · vaste vertegenwoordiger van de commissaris
19/06/2021
nominationDeloitte Réviseurs d'Entreprises SRL · commissaire
2020
Annual accounts 20203 M €↓
2019
Annual accounts 20193,7 M €↑
2018
Annual accounts 20183,3 M €↓
2017
Annual accounts 20175,1 M €↑
2016
Annual accounts 20161,4 M €↓
2015
Annual accounts 20154,4 M €↓
2014
Annual accounts 20148,8 M €↑
2013
Annual accounts 20138,3 M €↑
2012
Annual accounts 20127,7 M €↓
2011
Annual accounts 20118,7 M €↓
2011
Name changeGlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKline
2010
Annual accounts 201017,9 M €↑
2009
Annual accounts 200913,5 M €↓
2008
Annual accounts 200824,3 M €
01/01/1968
IncorporationPublic limited company

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue Fleming 20, 1300 WavreCurrent	accounts 2023 → 2025 · CBE, tracked since 27/09/2026	Accounts 2025 · 2026-00269667
Avenue Pascal 2-4-6, 1300 Wavre	accounts 2021 → 2022	Accounts 2022 · 2023-00238049

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
GlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKlineCurrent	CBE, tracked since 27/09/2026	CBE
GlaxoSmithKline Pharmaceuticals	accounts 2021 → 2025	Accounts 2025 · 2026-00269667
GlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKline	accounts 2011 → 2020	Accounts 2020 · 2021-30500516
GLAXOSMITHKLINE	accounts 2008 → 2010	Accounts 2010 · 2011-36400107

Annual accounts date a value by the financial year it appears in. The CBE dates a change to the day, but its history has only been kept since 27/09/2026.

GlaxoSmithKline Pharmaceuticals, en abrégé GlaxoSmithKline

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names