ACTIVE

PHARMANET

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Financial year 2025 · closed on 31/12/2025

Net result

134,3 k €

+32.3% YoY

Gross margin

401,5 k €

+11.2% YoY

Equity

416,2 k €

+9.0% YoY

What does PHARMANET do?

PHARMANET is a Public limited company incorporated in 1984. Its registered office is in Frameries.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0426.485.640

Incorporation

29/11/1984

Legal form

Public limited company

Registered office

Rue Montavaux 155
7080 Frameries · WallonieSee on map

Contributed capital

174 300,00 €

Latest accounts

31/12/2025

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	401,5 k €	+11.2%	361,2 k €	-7.9%	392,1 k €	+2.4%	382,9 k €	+9.9%	348,4 k €	-0.7%	350,8 k €	-4.0%	365,2 k €	+3.4%	353,2 k €	+2.4%	345 k €	+18.9%	290,2 k €	+15.4%	251,4 k €	-9.6%	278 k €	+15.5%	240,7 k €	-29.4%	340,7 k €	-8.1%	370,7 k €	+10.1%	336,6 k €	-5.9%	357,8 k €	-1.5%	363,2 k €	+34.5%	270,1 k €	+40.7%	192 k €
EBITDA	151,3 k €	+29.9%	116,5 k €	-22.2%	149,7 k €	-9.6%	165,6 k €	+16.9%	141,7 k €	-7.9%	153,8 k €	-8.5%	168,1 k €	+3.9%	161,8 k €	+3.1%	157 k €	+39.4%	112,7 k €	+65.9%	67,9 k €	-27.1%	93,1 k €	+62.3%	57,4 k €	-39.2%	94,4 k €	-33.6%	142,2 k €	+11.3%	127,8 k €	-16.7%	153,4 k €	-9.6%	169,7 k €	+45.1%	116,9 k €	+66.8%	70,1 k €
Operating result	135,1 k €	+36.4%	99 k €	-20.2%	124 k €	-12.3%	141,4 k €	+20.3%	117,5 k €	-10.3%	130,9 k €	+48.7%	88 k €	-7.7%	95,4 k €	+12.8%	84,5 k €	+448%	-24,3 k €	+64.8%	-69,1 k €	-15.2%	-59,9 k €	+54.9%	-133 k €	-158%	-51,5 k €	-1728%	-2,8 k €	+96.7%	-85,5 k €	-860%	-8,9 k €	-311%	-2,2 k €	+96.6%	-63,5 k €	-24.2%	-51,2 k €
Net result	134,3 k €	+32.3%	101,6 k €	-17.7%	123,3 k €	-11.9%	140 k €	+19.6%	117,1 k €	-9.9%	129,9 k €	+51.7%	85,6 k €	-6.3%	91,4 k €	-95.3%	2 M €	+2001%	93,4 k €	+368%	20 k €	+109%	-227,3 k €	+5.0%	-239,4 k €	-350%	-53,2 k €	-163%	84,9 k €	-75.8%	350,4 k €	+83.8%	190,7 k €	+372%	40,4 k €	+141%	-98,8 k €	-126%	-43,7 k €
Balance sheet
Equity	416,2 k €	+9.0%	381,9 k €	+0.4%	380,3 k €	-31.7%	557 k €	-31.8%	817 k €	-45.5%	1,5 M €	+9.5%	1,4 M €	+6.7%	1,3 M €	+7.7%	1,2 M €	+3689%	31,5 k €	+151%	-61,9 k €	+24.4%	-81,8 k €	-156%	145,5 k €	-62.2%	384,9 k €	-12.2%	438,1 k €	+24.1%	353,2 k €	+12875%	2,7 k €	+101%	-187,9 k €	+17.7%	-228,3 k €	-76.3%	-129,5 k €
Total assets	579,9 k €	+9.5%	529,3 k €	-27.6%	731,3 k €	-27.2%	1 M €	-39.4%	1,7 M €	+7.2%	1,5 M €	+7.6%	1,4 M €	+2.6%	1,4 M €	-35.2%	2,2 M €	+165%	816,9 k €	-13.1%	939,7 k €	-36.7%	1,5 M €	-36.4%	2,3 M €	+7.7%	2,2 M €	-8.0%	2,4 M €	-3.4%	2,4 M €	+39.1%	1,8 M €	-0.1%	1,8 M €	+21.5%	1,4 M €	+28.3%	1,1 M €
Cash	507,2 k €	+14.4%	443,4 k €	-8.3%	483,7 k €	-48.5%	939,6 k €	-23.6%	1,2 M €	+662%	161,4 k €	+52.2%	106,1 k €	+27.8%	83 k €	-95.4%	1,8 M €	+4756%	37 k €	+67.5%	22,1 k €	-42.4%	38,3 k €	-66.3%	113,7 k €	+335%	26,2 k €	+535%	4,1 k €	-90.0%	41,3 k €	+9.5%	37,7 k €	+142%	15,6 k €	-21.7%	19,9 k €	+260%	5,5 k €
Debts	163,7 k €	+11.0%	147,5 k €	-58.0%	351 k €	-21.7%	448,2 k €	-46.8%	842,5 k €	+1647%	48,2 k €	-30.1%	69 k €	-41.3%	117,6 k €	-87.9%	971,4 k €	+23.7%	785,4 k €	-21.6%	1 M €	-36.0%	1,6 M €	-28.4%	2,2 M €	+22.7%	1,8 M €	-7.0%	1,9 M €	-8.1%	2,1 M €	+19.2%	1,7 M €	-9.9%	1,9 M €	+16.2%	1,7 M €	+33.3%	1,3 M €
Other
Workforce	–		–		–		–		–		3,8 ETP	-5.0%	4,0 ETP	+5.3%	3,8 ETP	+2.7%	3,7 ETP	-2.6%	3,8 ETP	+2.7%	3,7 ETP	0.0%	3,7 ETP	0.0%	3,7 ETP	-21.3%	4,7 ETP	-2.1%	4,8 ETP	0.0%	4,8 ETP	-5.9%	5,1 ETP	+6.2%	4,8 ETP	+23.1%	3,9 ETP	+8.3%	3,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 20 ended

Active mandates

FINPHARMA SA

Director · since 23 mai 2022 · until 22 mai 2028

Represented by PHILIPPE BOULANGER

Active

GEORGES BEAUJEAN

Director · since 23 mai 2022 · until 22 mai 2028

Active

PIERRE PASCAL HECQ

Managing director · since 23 mai 2022 · until 22 mai 2028

Active

Ended mandates

FINPHARMA SA

Director · since 04 mars 2022 · until 11 juin 2026

Represented by PHILIPPE BOULANGER

Ended

GEORGES BEAUJEAN

Director · since 28 mai 2020 · until 11 juin 2026

Ended

PIERRE PASCAL HECQ

Managing director · since 28 mai 2020 · until 11 juin 2026

Ended

UNIVERSAL PHARMA

Director · since 28 mai 2020 · until 04 mars 2022 · 0447.382.113

Ended

At this address

Other companies at this address

Company	CBE no.
ASSCOT● Active	0447.778.625
ATRIUM MANAGEMENT● Active	0478.169.913
BEPHAR● Active	0450.260.538
EVRAS● Active	0417.723.174
FARMIMMO● Active	0429.198.175
FELIX PHARMA● Active	0477.939.091
IMMOBILIERE DES QUATRE SEIGNEURIES● Active	0443.155.782
Immobilière Général Léman● Active	0403.358.761
IMMOBILIERE PRIMA● Active	0466.956.812
IMMOBILIERE SAINT GEORGES● Active	0435.700.442
Les Pharmacies Réunies● Active	0403.082.213
OBIPHAR● Active	0878.100.418
PHARMACIE ANDROMEDE● Active	0882.318.631
PHARMACIE CLAERHOUT● Active	0423.162.203
Pharmacie de la Chasse Royale● Active	0867.368.654
PHARMACIE DE LA PLACE DE GHLIN● Active	0842.900.009
PHARMACIE FAIDHERBE● Active	0479.179.208
Pharmacie Grenez - Seeuws● Active	0419.745.130
PHARMACIE RONDEAU● Active	0447.088.737
PHARMACIE SCHNEIDER - DEPOUHON● Active	0439.400.397

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro 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	30/06/2026	14/07/2025	06/08/2024	22/08/2023	16/08/2022	09/08/2021
General meeting	11/06/2026	12/06/2025	13/06/2024	08/06/2023	09/06/2022	10/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	11/06/2026	30/06/2026	French	PDF
Micro model	31/12/2024	12/06/2025	14/07/2025	French	PDF
Micro model	31/12/2023	13/06/2024	06/08/2024	French	PDF
Micro model	31/12/2022	08/06/2023	22/08/2023	French	PDF
Micro model	31/12/2021	09/06/2022	16/08/2022	French	PDF
Abridged model	31/12/2020	10/06/2021	09/08/2021	French	PDF
Abridged model	31/12/2019	11/06/2020	25/08/2020	French	PDF
Abridged model	31/12/2018	13/06/2019	07/08/2019	French	PDF
Abridged model	31/12/2017	14/06/2018	20/07/2018	French	PDF
Abridged model	31/12/2016	08/06/2017	03/07/2017	French	PDF
Abridged model	31/12/2015	09/06/2016	19/07/2016	French	PDF
Abridged model	31/12/2014	11/06/2015	14/08/2015	French	PDF
Abridged model	31/12/2013	12/06/2014	17/07/2014	French	PDF
Abridged model	31/12/2012	13/06/2013	25/06/2013	French	PDF
Abridged model	31/12/2011	14/06/2012	19/06/2012	French	PDF
Abridged model	31/12/2010	09/06/2011	08/07/2011	French	PDF
Abridged model	31/12/2009	10/06/2010	16/06/2010	French	PDF
Abridged model	31/12/2008	11/06/2009	23/07/2009	French	PDF
Abridged model	31/12/2007	12/06/2008	23/07/2008	French	PDF
Abridged model	31/12/2006	07/06/2007	20/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 20 ended

Active mandates

FINPHARMA SA

Director · since 23 mai 2022 · until 22 mai 2028

Represented by PHILIPPE BOULANGER

Active

GEORGES BEAUJEAN

Director · since 23 mai 2022 · until 22 mai 2028

Active

PIERRE PASCAL HECQ

Managing director · since 23 mai 2022 · until 22 mai 2028

Active

Ended mandates

FINPHARMA SA

Director · since 04 mars 2022 · until 11 juin 2026

Represented by PHILIPPE BOULANGER

Ended

GEORGES BEAUJEAN

Director · since 28 mai 2020 · until 11 juin 2026

Ended

PIERRE PASCAL HECQ

Managing director · since 28 mai 2020 · until 11 juin 2026

Ended

UNIVERSAL PHARMA

Director · since 28 mai 2020 · until 04 mars 2022 · 0447.382.113

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates22/06/2022
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates21/03/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates30/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates18/09/2015
DEMISSIONS, NOMINATIONS
PDF
Other11/10/2013
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates17/07/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates17/07/2012
DEMISSIONS, NOMINATIONS
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 2025134,3 k €↑
2024
Annual accounts 2024101,6 k €↓
2023
Annual accounts 2023123,3 k €↓
2022
Annual accounts 2022140 k €↑
2021
Annual accounts 2021117,1 k €↓
2020
Annual accounts 2020129,9 k €↑
2019
Annual accounts 201985,6 k €↓
2018
Annual accounts 201891,4 k €↓
2017
Annual accounts 20172 M €↑
2016
Annual accounts 201693,4 k €↑
2015
Annual accounts 201520 k €↑
2014
Annual accounts 2014-227,3 k €↑
2013
Annual accounts 2013-239,4 k €↓
2012
Annual accounts 2012-53,2 k €↓
2011
Annual accounts 201184,9 k €↓
2010
Annual accounts 2010350,4 k €↑
2009
Annual accounts 2009190,7 k €↑
2008
Annual accounts 200840,4 k €↑
2007
Annual accounts 2007-98,8 k €↓
2006
Annual accounts 2006-43,7 k €
29/11/1984
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

PHARMANET

Overview

What does PHARMANET do?

Trend over 20 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