ACTIVE

PHARDUP

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Financial year 2025 · closed on 31/12/2025

Net result

3,3 k €

-95.6% YoY

Gross margin

269 k €

-30.4% YoY

Equity

185,4 k €

+1.8% YoY

Workforce

4,0 ETP

-7.0% YoY

What does PHARDUP do?

PHARDUP is a Public limited company incorporated in 1988. Its registered office is in Etterbeek. It employs on average 4,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0433.142.810

Incorporation

21/01/1988

Legal form

Public limited company

Registered office

Avenue de l'Armée 138
1040 Etterbeek · BruxellesSee on map

Contributed capital

61 999,12 €

Latest accounts

31/12/2025

Average workforce

4,0 ETP

Joint committees (1)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	269 k €	-30.4%	386,6 k €	+21.8%	317,4 k €	-9.0%	348,7 k €	+0.8%	345,9 k €	-16.3%	413,2 k €	+4.5%	395,6 k €	-2.0%	403,7 k €	-14.5%	472,2 k €	-9.9%	524 k €	+3.9%	504,2 k €	-1.6%	512,2 k €	+6.0%	483,4 k €	-7.5%	522,6 k €	+28.6%	406,4 k €	-5.9%	432 k €	+4.7%	412,8 k €	-12.8%	473,2 k €	+45.5%	325,1 k €	-14.4%	379,8 k €
EBITDA	23,1 k €	-81.0%	121,3 k €	+4799%	-2,6 k €	-103%	90,7 k €	-14.9%	106,6 k €	-25.9%	143,7 k €	-0.2%	144 k €	+63.8%	87,9 k €	-12.0%	99,9 k €	-0.1%	100 k €	-30.7%	144,2 k €	-16.1%	171,9 k €	-3.7%	178,6 k €	-26.1%	241,8 k €	+104%	118,7 k €	-26.7%	162 k €	+28.6%	125,9 k €	-37.2%	200,5 k €	+42.4%	140,8 k €	-12.7%	161,2 k €
Operating result	18,1 k €	-84.4%	115,6 k €	+1268%	-9,9 k €	-112%	82,3 k €	+1.5%	81 k €	-31.2%	117,8 k €	+0.4%	117,4 k €	+91.2%	61,4 k €	-33.1%	91,7 k €	-0.5%	92,2 k €	-31.7%	135 k €	-16.7%	162 k €	-5.4%	171,4 k €	-22.6%	221,3 k €	+227%	67,6 k €	+25.2%	54 k €	+72.9%	31,2 k €	-70.1%	104,3 k €	+94.6%	53,6 k €	-2.0%	54,7 k €
Net result	3,3 k €	-95.6%	73,5 k €	+514%	-17,8 k €	-144%	40,7 k €	-9.9%	45,2 k €	-36.9%	71,6 k €	+9.2%	65,5 k €	+145%	26,8 k €	-50.5%	54,1 k €	+69.7%	31,9 k €	-55.7%	71,8 k €	-1.0%	72,6 k €	-9.9%	80,5 k €	-22.6%	104 k €	+386%	21,4 k €	+26.1%	17 k €	+177%	-21,9 k €	-136%	60,4 k €	+331%	14 k €	+1111%	1,2 k €
Balance sheet
Equity	185,4 k €	+1.8%	182,1 k €	+67.7%	108,6 k €	-14.1%	126,3 k €	+47.5%	85,6 k €	+111%	40,5 k €	+230%	-31,1 k €	+67.8%	-96,6 k €	+21.7%	-123,4 k €	+30.5%	-177,5 k €	+15.2%	-209,3 k €	+25.6%	-281,1 k €	+20.5%	-353,7 k €	+18.5%	-434,3 k €	+19.3%	-538,3 k €	+3.8%	-559,7 k €	+2.9%	-576,6 k €	-4.0%	-554,7 k €	+9.8%	-615,1 k €	+2.2%	-629,1 k €
Total assets	817,5 k €	+4.7%	780,7 k €	+0.8%	774,6 k €	+7.2%	722,8 k €	+4.8%	689,5 k €	-18.7%	847,7 k €	+13.4%	747,4 k €	+16.1%	643,7 k €	-4.9%	676,5 k €	-0.1%	677 k €	+5.4%	642,3 k €	+20.5%	533,3 k €	-10.7%	596,9 k €	-48.4%	1,2 M €	+2.3%	1,1 M €	+11.8%	1 M €	-12.0%	1,2 M €	+15.3%	997,6 k €	+5.1%	949,4 k €	+0.4%	945,1 k €
Cash	85,9 k €	+78.5%	48,1 k €	-50.7%	97,6 k €	-29.1%	137,6 k €	-28.2%	191,7 k €	+35.0%	142 k €	-4.1%	148,2 k €	-26.0%	200,4 k €	-26.0%	270,7 k €	+17.3%	230,8 k €	+19.1%	193,7 k €	+184%	68,2 k €	-39.3%	112,5 k €	-12.1%	127,9 k €	+27.2%	100,6 k €	-57.8%	238,2 k €	+575%	35,3 k €	-58.8%	85,6 k €	+3430%	2,4 k €		–
Debts	599,8 k €	+5.9%	566,3 k €	-10.6%	633,7 k €	+12.3%	564,1 k €	-2.7%	579,6 k €	-25.6%	779,1 k €	+6.7%	730,4 k €	-0.2%	732,2 k €	-7.5%	791,8 k €	-6.4%	846,3 k €	-0.5%	850,5 k €	+5.3%	807,4 k €	+1.3%	796,8 k €	-49.9%	1,6 M €	-4.7%	1,7 M €	+6.2%	1,6 M €	-9.0%	1,7 M €	+11.2%	1,6 M €	-0.8%	1,6 M €	-0.6%	1,6 M €
Other
Workforce	4,0 ETP	-7.0%	4,3 ETP	-15.7%	5,1 ETP	-16.4%	6,1 ETP	-7.6%	6,6 ETP	+34.7%	4,9 ETP	-7.5%	5,3 ETP	-18.5%	6,5 ETP	+8.3%	6,0 ETP	+9.1%	5,5 ETP	+12.2%	4,9 ETP	-26.9%	6,7 ETP	+24.1%	5,4 ETP	-5.3%	5,7 ETP	+23.9%	4,6 ETP	-8.0%	5,0 ETP	-9.1%	5,5 ETP	+22.2%	4,5 ETP	+50.0%	3,0 ETP	-23.1%	3,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 19 ended

Active mandates

Danielle Hugueny

Managing director · since 01 juillet 2018

Active

Ended mandates

XAVIER ZUINEN

Director · since 15 avril 2010 · until 31 décembre 2015

Ended

XAVIER ZUINEN

Director · since 15 avril 2010

Ended

DANIELLE HUGUENY

Director · since 13 février 2009 · until 31 décembre 2015

Ended

DANIELLE HUGUENY

Director · since 13 février 2009

Ended

At this address

Other companies at this address

Company	CBE no.
"Association des copropriétaires avenue de l'Armée 138" à Etterbeek, avenue de l'Armée 138.● Active	0896.819.933

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	07/08/2026	29/08/2025	28/08/2024	30/08/2023	29/08/2022	31/08/2021
General meeting	20/07/2026	25/04/2025	10/07/2024	30/06/2023	24/06/2022	24/08/2021
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	20/07/2026	07/08/2026	French	PDF
Abridged model	31/12/2024	25/04/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	10/07/2024	28/08/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	30/08/2023	French	PDF
Abridged model	31/12/2021	24/06/2022	29/08/2022	French	PDF
Abridged model	31/12/2020	24/08/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	24/08/2020	31/08/2020	French	PDF
Abridged model	31/12/2018	14/10/2019	25/10/2019	French	PDF
Abridged model	31/12/2017	29/06/2018	25/07/2018	French	PDF
Abridged model	31/12/2016	20/06/2017	19/07/2017	French	PDF
Abridged model	31/12/2015	29/09/2016	30/09/2016	French	PDF
Abridged model	31/12/2014	09/07/2015	23/09/2015	French	PDF
Abridged model	31/12/2013	08/07/2014	21/08/2014	French	PDF
Abridged model	31/12/2012	25/09/2013	30/09/2013	French	PDF
Abridged model	31/12/2011	27/04/2012	22/08/2012	French	PDF
Abridged model	31/12/2010	29/04/2011	19/08/2011	French	PDF
Abridged model	31/12/2009	30/04/2010	30/08/2010	French	PDF
Abridged model	31/12/2008	24/04/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	25/04/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	27/04/2007	16/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 31/12/2024 · 1 active · 19 ended

Active mandates

Danielle Hugueny

Managing director · since 01 juillet 2018

Active

Ended mandates

XAVIER ZUINEN

Director · since 15 avril 2010 · until 31 décembre 2015

Ended

XAVIER ZUINEN

Director · since 15 avril 2010

Ended

DANIELLE HUGUENY

Director · since 13 février 2009 · until 31 décembre 2015

Ended

DANIELLE HUGUENY

Director · since 13 février 2009

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates20/04/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates05/03/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Mandates05/09/2018
DEMISSIONS, NOMINATIONS
PDF
Registered office04/12/2012
SIEGE SOCIAL
PDF
Mandates29/06/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates13/03/2009
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 20253,3 k €↓
2024
Annual accounts 202473,5 k €↑
2023
Annual accounts 2023-17,8 k €↓
2022
Annual accounts 202240,7 k €↓
2021
Annual accounts 202145,2 k €↓
2020
Annual accounts 202071,6 k €↑
2019
Annual accounts 201965,5 k €↑
2018
Annual accounts 201826,8 k €↓
2017
Annual accounts 201754,1 k €↑
2016
Annual accounts 201631,9 k €↓
2015
Annual accounts 201571,8 k €↓
2014
Annual accounts 201472,6 k €↓
2013
Annual accounts 201380,5 k €↓
2012
Annual accounts 2012104 k €↑
2011
Annual accounts 201121,4 k €↑
2010
Annual accounts 201017 k €↑
2009
Annual accounts 2009-21,9 k €↓
2008
Annual accounts 200860,4 k €↑
2007
Annual accounts 200714 k €↑
2006
Annual accounts 20061,2 k €
21/01/1988
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

PHARDUP

Overview

What does PHARDUP 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