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Curepharma

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Financial year 2025 · closed on 31/12/2025

Net result

-63,1 k €

-1425.6% YoY

Gross margin

46,3 k €

-46.4% YoY

Equity

355,2 k €

-15.1% YoY

Workforce

1,6 ETP

+6.7% YoY

What does Curepharma do?

Curepharma is a Private limited company incorporated in 1983. Its registered office is in Antwerpen. It employs on average 1,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.132.687

Incorporation

29/12/1983

Legal form

Private limited company

Registered office

Camille Huysmanslaan 95
2020 Antwerpen · FlandreSee on map

Contributed capital

45 000,00 €

Latest accounts

31/12/2025

Average workforce

1,6 ETP

Joint committees (1)

Signals

Solid equityLow riskGood liquidityHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	46,3 k €	-46.4%	86,5 k €	-24.2%	114,1 k €	-40.9%	193,2 k €	-8.8%	211,7 k €	-0.2%	212,2 k €	+5.5%	201,1 k €	+21.2%	166 k €	+12.3%	147,9 k €	-0.6%	148,7 k €	-8.2%	162 k €	-4.3%	169,3 k €	+6.9%	158,4 k €	+0.8%	157,1 k €	+10.8%	141,8 k €	+44.4%	98,2 k €	+10.0%	89,2 k €	-9.3%	98,3 k €	-9.4%	108,5 k €	+40.4%	77,3 k €
EBITDA	-44,6 k €	-496%	11,3 k €	-71.5%	39,5 k €	-61.6%	102,8 k €	+8.6%	94,7 k €	-27.2%	130,1 k €	+25.4%	103,7 k €	+59.7%	65 k €	+2.2%	63,6 k €	-2.5%	65,2 k €	-20.9%	82,5 k €	-7.5%	89,2 k €	+9.7%	81,3 k €	-0.2%	81,5 k €	+15.7%	70,4 k €	+82.0%	38,7 k €	+32.2%	29,3 k €	-26.6%	39,9 k €	-22.5%	51,5 k €	+112%	24,3 k €
Operating result	-59,3 k €	-1061%	6,2 k €	-82.3%	34,8 k €	-64.8%	98,7 k €	+12.3%	87,9 k €	-28.7%	123,2 k €	+66.3%	74,1 k €	+106%	35,9 k €	+8.8%	33 k €	-5.1%	34,8 k €	-33.0%	51,9 k €	+4.2%	49,8 k €	+17.9%	42,3 k €	-5.6%	44,8 k €	+38.8%	32,2 k €	+136457%	-23,7 €	-100%	9,5 k €	-55.8%	21,4 k €	-37.3%	34,2 k €	+350%	7,6 k €
Net result	-63,1 k €	-1426%	4,8 k €	-79.6%	23,4 k €	-69.7%	77 k €	+13.7%	67,7 k €	-29.0%	95,4 k €	+65.8%	57,6 k €	+157%	22,4 k €	+17.8%	19 k €	-3.7%	19,7 k €	-21.3%	25,1 k €	-46.6%	46,9 k €	+79.7%	26,1 k €	-9.2%	28,7 k €	+7.7%	26,7 k €	+647%	-4,9 k €	-219%	4,1 k €	-63.5%	11,2 k €	-41.1%	19,1 k €	+678%	2,5 k €
Balance sheet
Equity	355,2 k €	-15.1%	418,3 k €	+1.2%	413,5 k €	-10.0%	459,6 k €	+8.8%	422,3 k €	+8.2%	390,2 k €	+32.4%	294,8 k €	+24.3%	237,3 k €	+21.0%	196 k €	+10.7%	177 k €	+12.5%	157,3 k €	+18.9%	132,3 k €	+3.0%	128,4 k €	+25.5%	102,3 k €	+26.2%	81 k €	+9.0%	74,3 k €	-6.2%	79,2 k €	+5.5%	75,1 k €	+17.6%	63,9 k €	+42.6%	44,8 k €
Total assets	516,1 k €	-4.4%	540 k €	-1.7%	549,4 k €	-8.1%	597,6 k €	+25.8%	474,9 k €	+6.3%	446,8 k €	+25.6%	355,7 k €	+21.2%	293,6 k €	+0.8%	291,4 k €	-15.8%	345,9 k €	-7.6%	374,3 k €	-4.1%	390,4 k €	-2.8%	401,5 k €	+1.0%	397,7 k €	-2.9%	409,6 k €	-4.5%	429,1 k €	+50.3%	285,5 k €	-3.4%	295,4 k €	-1.5%	300 k €	-0.8%	302,5 k €
Cash	166,4 k €	-31.4%	242,5 k €	-12.2%	276,1 k €	-24.8%	366,9 k €	+103%	181 k €	-19.7%	225,3 k €	+51.3%	148,9 k €	+113%	69,8 k €	+84.5%	37,8 k €	-38.9%	62 k €	+9.5%	56,6 k €	-42.4%	98,3 k €	+14.5%	85,8 k €	+19.1%	72,1 k €	+19.3%	60,4 k €	+8.5%	55,7 k €	+73.9%	32 k €	-28.5%	44,8 k €	-1.7%	45,6 k €	+5.6%	43,1 k €
Debts	160,9 k €	+34.2%	120 k €	-9.1%	131,9 k €	-4.1%	137,5 k €	+162%	52,5 k €	-7.1%	56,5 k €	-6.4%	60,4 k €	+7.2%	56,4 k €	-39.5%	93,2 k €	-42.7%	162,6 k €	-24.1%	214,2 k €	-16.5%	256,6 k €	-5.0%	270,2 k €	-7.8%	293 k €	-10.3%	326,5 k €	-7.4%	352,4 k €	+70.9%	206,2 k €	-6.1%	219,7 k €	-6.7%	235,5 k €	-8.2%	256,6 k €
Other
Workforce	1,6 ETP	+6.7%	1,5 ETP	0.0%	1,5 ETP	+7.1%	1,4 ETP	-36.4%	2,2 ETP	-15.4%	2,6 ETP	+44.4%	1,8 ETP		–		1,8 ETP	+12.5%	1,6 ETP	+6.7%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	-6.3%	1,6 ETP	+14.3%	1,4 ETP	+7.7%	1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP	+8.3%	1,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 12 ended

Active mandates

SARAVI

Director · 0790.572.071

Represented by Malekzadeh Saravi Mahsa

Active

Ended mandates

SARAVI

Director · since 01 octobre 2022 · 0790.572.071

Represented by Mahsa Malekzadeh

Ended

MASVAN

Manager · since 07 mai 2004 · 0473.046.927

Represented by Marleen MASUI

Ended

Marleen MASUI

Manager · since 01 novembre 2000

Ended

Olivier VAN GRUNDERBEEK

Manager · since 01 novembre 2000

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	18/08/2026	31/07/2025	27/08/2024	29/08/2023	02/06/2022	04/06/2021
General meeting	04/05/2026	02/05/2025	03/05/2024	05/05/2023	06/05/2022	07/05/2021
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
Abridged model	31/12/2025	04/05/2026	18/08/2026	Dutch	PDF
Abridged model	31/12/2024	02/05/2025	31/07/2025	Dutch	PDF
Abridged model	31/12/2023	03/05/2024	27/08/2024	Dutch	PDF
Abridged model	31/12/2022	05/05/2023	29/08/2023	Dutch	PDF
Abridged model	31/12/2021	06/05/2022	02/06/2022	Dutch	PDF
Abridged model	31/12/2020	07/05/2021	04/06/2021	Dutch	PDF
Abridged model	31/12/2019	22/05/2020	23/06/2020	Dutch	PDF
Micro model	31/12/2018	03/05/2019	28/05/2019	Dutch	PDF
Abridged model	31/12/2017	04/05/2018	04/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/05/2017	24/07/2017	Dutch	PDF
Abridged model	31/12/2015	27/05/2016	23/06/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	02/05/2014	27/05/2014	Dutch	PDF
Abridged model	31/12/2012	03/05/2013	23/05/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	21/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/05/2011	06/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	24/06/2010	Dutch	PDF
Abridged model	31/12/2008	23/05/2009	18/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/05/2008	28/05/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	21/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 1 active · 12 ended

Active mandates

SARAVI

Director · 0790.572.071

Represented by Malekzadeh Saravi Mahsa

Active

Ended mandates

SARAVI

Director · since 01 octobre 2022 · 0790.572.071

Represented by Mahsa Malekzadeh

Ended

MASVAN

Manager · since 07 mai 2004 · 0473.046.927

Represented by Marleen MASUI

Ended

Marleen MASUI

Manager · since 01 novembre 2000

Ended

Olivier VAN GRUNDERBEEK

Manager · since 01 novembre 2000

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other03/01/2024
WIJZIGING RECHTSVORM - BENAMING
PDF
Mandates25/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring09/10/2018
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring09/07/2018
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates23/07/2004
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares07/04/2003
BENAMING - ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025-63,1 k €↓
2024
Annual accounts 20244,8 k €↓
2023
Annual accounts 202323,4 k €↓
2023
Name changeCurepharma
2022
Annual accounts 202277 k €↑
2021
Annual accounts 202167,7 k €↓
2021
Name changeApotheek Masui
2020
Annual accounts 202095,4 k €↑
2019
Annual accounts 201957,6 k €↑
2018
Annual accounts 201822,4 k €↑
2017
Annual accounts 201719 k €↓
2016
Annual accounts 201619,7 k €↓
2015
Annual accounts 201525,1 k €↓
2014
Annual accounts 201446,9 k €↑
2013
Annual accounts 201326,1 k €↓
2012
Annual accounts 201228,7 k €↑
2011
Annual accounts 201126,7 k €↑
2010
Annual accounts 2010-4,9 k €↓
2009
Annual accounts 20094,1 k €↓
2008
Annual accounts 200811,2 k €↓
2007
Annual accounts 200719,1 k €↑
2006
Annual accounts 20062,5 k €
29/12/1983
IncorporationPrivate 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

Curepharma

Overview

What does Curepharma do?

Trend over 20 financial years

Indicative valuation

Board of directors

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