ACTIVE

DOCPHARMA

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Financial year 2025 · closed on 31/12/2025

Net result

581,4 k €

-51.8% YoY

Equity

36,6 M €

+1.6% YoY

What does DOCPHARMA do?

DOCPHARMA is a Private limited company incorporated in 1999. Its registered office is in Hoeilaart.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.350.075

Incorporation

05/03/1999

Legal form

Private limited company

Registered office

Terhulpsesteenweg 6 box A
1560 Hoeilaart · FlandreSee on map

Contributed capital

83 290 373,43 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2020		2019		2018		2017		2016		2015		2014		2013		2012		2009		2009		2008
Income statement
Revenue	–		–		–		–		–		–		–		–		–		22,8 k €	+17.1%	19,5 k €		–		91,1 k €	-99.5%	18,4 M €	-25.8%	24,8 M €	-1.6%	25,1 M €
EBITDA	-24,9 k €	-54.1%	-16,2 k €	-25.1%	-12,9 k €	-170%	18,4 k €	+104%	-420,9 k €	+8.9%	-462 k €	-0.7%	-458,8 k €	+4.9%	-482,5 k €	+6.8%	-517,8 k €	+11.1%	-582,7 k €	+16.9%	-700,9 k €	+50.7%	-1,4 M €	+42.0%	-2,5 M €	-226%	-750,8 k €	+74.0%	-2,9 M €	+10.8%	-3,2 M €
Operating result	-476,6 k €	-1.6%	-469,1 k €	-1.0%	-464,6 k €	-7.2%	-433,2 k €	-2.9%	-420,9 k €	+8.9%	-462 k €	-0.7%	-458,8 k €	-135%	1,3 M €	+350%	-517,8 k €	+11.1%	-582,7 k €	+16.1%	-694,4 k €	+51.2%	-1,4 M €	-20.5%	-1,2 M €	+66.3%	-3,5 M €	+24.5%	-4,6 M €	-0.9%	-4,6 M €
Net result	581,4 k €	-51.8%	1,2 M €	+53.0%	788,6 k €	-36.2%	1,2 M €	+399%	-413,7 k €	+10.1%	-460,4 k €	-0.8%	-456,8 k €	-108%	5,9 M €	+144%	-13,3 M €	-2208%	-577,6 k €	-62.9%	-354,5 k €	+75.1%	-1,4 M €	-112%	12,2 M €	+169%	-17,7 M €	-325%	-4,2 M €	-30.1%	-3,2 M €
Balance sheet
Equity	36,6 M €	+1.6%	36 M €	+3.5%	34,8 M €	+2.3%	34 M €	+2.3%	33,2 M €	-1.2%	33,6 M €	-1.4%	34,1 M €	-1.3%	34,5 M €	+20.7%	28,6 M €	-31.8%	41,9 M €	-1.4%	42,5 M €	-0.8%	42,9 M €	-3.2%	44,3 M €	-0.0%	44,3 M €	-28.5%	62 M €	-6.3%	66,1 M €
Total assets	48,2 M €	+2.2%	47,2 M €	+3.6%	45,5 M €	+2.8%	44,3 M €	-7.4%	47,8 M €	+0.1%	47,8 M €	-0.0%	47,8 M €	-0.0%	47,8 M €	+15.4%	41,4 M €	-23.8%	54,4 M €	-0.2%	54,5 M €	-0.2%	54,6 M €	-0.6%	54,9 M €	-21.5%	69,9 M €	-28.4%	97,6 M €	-3.2%	100,8 M €
Cash	–		–		0 €	-100%	49,4 k €	-4.2%	51,6 k €	-2.2%	52,8 k €	+54.9%	34,1 k €	-48.4%	66 k €	-16.9%	79,5 k €	-72.9%	293,7 k €	-14.4%	343,1 k €	-3.0%	353,8 k €	-68.4%	1,1 M €	+45.9%	766,6 k €	-35.9%	1,2 M €	-11.3%	1,3 M €
Debts	13,7 k €	+9.8%	12,5 k €	-55.0%	27,7 k €	+91.5%	14,5 k €	+522%	2,3 k €	-82.7%	13,4 k €	+3.1%	13 k €	-49.6%	25,9 k €	+149%	10,4 k €	-95.1%	211,9 k €	-6.0%	225,4 k €	-46.1%	418 k €	-11.6%	472,9 k €	-96.9%	15,1 M €	-40.9%	25,5 M €	-3.4%	26,4 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		73,6 ETP	-0.1%	73,7 ETP	+2.6%	71,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 39 ended

Active mandates

Arun NARAYAN

Director · since 26 novembre 2025

Active

Tomasz BUCZEK

Director · since 25 juin 2025

Active

Ended mandates

Matthew Salzmann

Director · since 01 mars 2024

Ended

Luis BIRBUET

Director · since 30 mars 2021

Ended

José Cotarelo

Director · since 20 décembre 2018 · until 30 mars 2021

Ended

José Cotarelo

Manager · since 20 décembre 2018

Ended

At this address

Other companies at this address

Company	CBE no.
Matrix Laboratories● Liquidation	0874.864.378
Viatris● Active	0564.907.115

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	07/07/2026	27/06/2025	27/06/2024	11/07/2023	07/07/2022	13/07/2021
General meeting	18/06/2026	19/06/2025	20/06/2024	28/06/2023	16/06/2022	17/06/2021
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

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	18/06/2026	07/07/2026	Dutch	PDF
Full model	31/12/2024	19/06/2025	27/06/2025	Dutch	PDF
Full model	31/12/2023	20/06/2024	27/06/2024	Dutch	PDF
Full model	31/12/2022	28/06/2023	11/07/2023	Dutch	PDF
Full model	31/12/2021	16/06/2022	07/07/2022	Dutch	PDF
Full model	31/12/2020	17/06/2021	13/07/2021	Dutch	PDF
Full model	31/12/2019	18/06/2020	09/07/2020	Dutch	PDF
Full model	31/12/2018	20/06/2019	09/07/2019	Dutch	PDF
Full model	31/12/2017	28/06/2018	04/07/2018	Dutch	PDF
Full model	31/12/2016	30/08/2017	13/09/2017	Dutch	PDF
Full model	31/12/2015	11/08/2016	27/09/2016	Dutch	PDF
Full model	31/12/2014	18/06/2015	19/06/2015	Dutch	PDF
Full model	31/12/2013	19/06/2014	20/06/2014	Dutch	PDF
Full model	31/12/2012	20/06/2013	25/06/2013	Dutch	PDF
Full model	31/12/2011	21/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	11/01/2012	12/01/2012	Dutch	PDF
Full model	31/12/2009	17/06/2010	19/07/2010	Dutch	PDF
Full model	31/03/2009	15/10/2009	04/12/2009	Dutch	PDF
Full model	31/03/2008	20/07/2009	19/08/2009	Dutch	PDF
Full model	31/03/2007	10/12/2008	20/02/2009	Dutch	PDF
Full model	31/03/2006	22/09/2006	08/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 · 2 active · 39 ended

Active mandates

Arun NARAYAN

Director · since 26 novembre 2025

Active

Tomasz BUCZEK

Director · since 25 juin 2025

Active

Ended mandates

Matthew Salzmann

Director · since 01 mars 2024

Ended

Luis BIRBUET

Director · since 30 mars 2021

Ended

José Cotarelo

Director · since 20 décembre 2018 · until 30 mars 2021

Ended

José Cotarelo

Manager · since 20 décembre 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/07/2026
—
PDF
Mandates10/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/04/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/07/2020
ONTSLAGEN - BENOEMINGEN
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 2025581,4 k €↓
26/11/2025
nominationArun Narayan — bestuurder
25/06/2025
nominationTomasz Buczek — bestuurder
2024
Annual accounts 20241,2 M €↑
01/03/2024
nominationMatthew Salzmann — bestuurder
2023
Annual accounts 2023788,6 k €↓
28/06/2023
reconductionDeloitte Bedrijfsrevisoren BV — commissaris
2022
Annual accounts 20221,2 M €↑
2020
Annual accounts 2020-413,7 k €↑
2019
Annual accounts 2019-460,4 k €↓
2018
Annual accounts 2018-456,8 k €↓
2017
Annual accounts 20175,9 M €↑
2016
Annual accounts 2016-13,3 M €↓
2015
Annual accounts 2015-577,6 k €↓
2014
Annual accounts 2014-354,5 k €↑
2013
Annual accounts 2013-1,4 M €↓
2012
Annual accounts 201212,2 M €↑
2009
Annual accounts 2009-17,7 M €↓
2009
Annual accounts 2009-4,2 M €↓
2008
Annual accounts 2008-3,2 M €
05/03/1999
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

DOCPHARMA

Overview

What does DOCPHARMA do?

Trend over 16 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