ACTIVE

KEYPHARM

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Financial year 2025 · closed on 31/12/2025

Net result

1,6 M €

+58.0% YoY

Revenue

14,9 M €

+10.3% YoY

Equity

5,2 M €

+14.7% YoY

Workforce

18,0 ETP

+0.6% YoY

What does KEYPHARM do?

KEYPHARM is a Public limited company incorporated in 2006. Its main activity is: Wholesale of pharmaceutical goods. Its registered office is in Oostkamp. It employs on average 18,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0883.397.311

Incorporation

08/09/2006

Legal form

Public limited company

Registered office

Siemenslaan 11
8020 Oostkamp · FlandreSee on map

Contributed capital

800 000,00 €

Latest accounts

31/12/2025

Average workforce

18,0 ETP

Activities (NACE)

46460Wholesale of pharmaceutical goods· main 46460Wholesale of pharmaceutical goods 51460Air transport 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	14,9 M €	+10.3%	13,5 M €	+8.8%	12,4 M €	+8.5%	11,4 M €	+2.9%	11,1 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	2,3 M €	+40.9%	1,6 M €	+11.2%	1,5 M €	+0.2%	1,5 M €	-22.0%	1,9 M €	-6.4%	2 M €	+107%	967,5 k €	+17.4%	824,2 k €	+14.8%	718 k €	-17.1%	866,3 k €	+23.5%	701,2 k €	+50.1%	467,1 k €	+42.2%	328,5 k €	+33.0%	246,9 k €	+29.7%	190,4 k €	+77.8%	107,1 k €	+172%	-147,8 k €	-694%	-18,6 k €	-667%	3,3 k €
Operating result	2 M €	+48.0%	1,3 M €	+15.9%	1,1 M €	+0.4%	1,1 M €	-24.4%	1,5 M €	-1.3%	1,5 M €	+221%	476 k €	+23.8%	384,4 k €	+13.9%	337,4 k €	-36.9%	534,4 k €	+1.1%	528,8 k €	+53.0%	345,5 k €	+47.3%	234,5 k €	+22.9%	190,8 k €	+49.3%	127,8 k €	+203%	42,2 k €	+119%	-221,3 k €	-516%	-35,9 k €	-7590%	480 €
Net result	1,6 M €	+58.0%	990,4 k €	+23.4%	802,8 k €	-2.8%	825,5 k €	-25.4%	1,1 M €	+1.6%	1,1 M €	+306%	267,8 k €	+42.1%	188,4 k €	+35.2%	139,3 k €	-42.5%	242,5 k €	+9.4%	221,7 k €	+55.0%	143,1 k €	+324%	33,8 k €	-28.5%	47,2 k €	-44.2%	84,6 k €	+241%	24,8 k €	+110%	-241 k €	-429%	-45,5 k €	-8181%	563,2 €
Balance sheet
Equity	5,2 M €	+14.7%	4,5 M €	+9.8%	4,1 M €	+7.3%	3,8 M €	+13.5%	3,4 M €	+32.9%	2,6 M €	+54.9%	1,6 M €	+12.9%	1,5 M €	+10.5%	1,3 M €	+7.3%	1,2 M €	+19.7%	1 M €	+21.4%	847,5 k €	+20.3%	704,4 k €	+5.0%	670,6 k €	+7.6%	623,4 k €	+15.7%	538,8 k €	+559%	-117,4 k €	-345%	-26,4 k €	-238%	19,1 k €
Total assets	9,5 M €	+11.0%	8,5 M €	+5.2%	8,1 M €	+8.1%	7,5 M €	+3.1%	7,3 M €	+4.4%	7 M €	+5.5%	6,6 M €	+14.3%	5,8 M €	-0.2%	5,8 M €	+12.2%	5,2 M €	+12.0%	4,6 M €	+18.0%	3,9 M €	+24.2%	3,1 M €	+1.2%	3,1 M €	+59.6%	1,9 M €	+33.8%	1,5 M €	+64.5%	885 k €	+56.5%	565,6 k €	+217%	178,3 k €
Cash	57,9 k €	-38.2%	93,6 k €	-50.2%	188,1 k €	+47.3%	127,7 k €	+72.6%	74 k €	+54.5%	47,9 k €	-1.5%	48,6 k €	+16.0%	41,9 k €	-67.8%	130,2 k €	+112%	61,5 k €	-68.8%	197,1 k €	+60.3%	122,9 k €	+70.6%	72,1 k €	-60.4%	182 k €	+322%	43,1 k €	-44.8%	78,2 k €	+25.5%	62,3 k €		–		19,3 k €
Debts	4,3 M €	+7.1%	4 M €	+0.4%	4 M €	+8.7%	3,7 M €	-5.5%	3,9 M €	-11.8%	4,4 M €	-10.6%	4,9 M €	+14.8%	4,3 M €	-2.9%	4,4 M €	+12.0%	3,9 M €	+10.8%	3,5 M €	+15.9%	3,1 M €	+27.3%	2,4 M €	-0.4%	2,4 M €	+82.6%	1,3 M €	+44.2%	916,6 k €	-8.6%	1 M €	+69.3%	592 k €	+272%	159,2 k €
Other
Workforce	18,0 ETP	+0.6%	17,9 ETP	-1.1%	18,1 ETP	+5.8%	17,1 ETP	+29.5%	13,2 ETP	-8.3%	14,4 ETP	-7.7%	15,6 ETP	+10.6%	14,1 ETP	+10.2%	12,8 ETP	+33.3%	9,6 ETP	+26.3%	7,6 ETP	0.0%	7,6 ETP	+2.7%	7,4 ETP	+8.8%	6,8 ETP	+25.9%	5,4 ETP	+92.9%	2,8 ETP	+33.3%	2,1 ETP	+600%	0,3 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

CORUJO

Director · since 02 juin 2022 · until 20 juin 2028 · 0479.520.686

Represented by Ward Vercaemst

Active

Manipuro

Director · since 02 juin 2022 · until 20 juin 2028 · 0729.642.809

Represented by Ciska Wyns

Active

Melissa Hellebuyck

Director · since 02 juin 2022 · until 20 juin 2028

Active

RIAS BAIXAS

Managing director · since 02 juin 2022 · until 20 juin 2028 · 0479.520.785

Represented by Peter Vercaemst

Active

Ended mandates

Melissa Hellebuyck

Director · since 02 février 2022 · until 20 juin 2028

Ended

CORUJO

Director · since 02 janvier 2021 · until 02 janvier 2027 · 0479.520.686

Represented by Ward Vercaemst

Ended

Manipuro

Director · since 01 juillet 2019 · until 20 juin 2025 · 0729.642.809

Represented by Ciska Wyns

Ended

Manipuro

Director · since 01 juillet 2019 · until 24 juin 2025 · 0729.642.809

Represented by Ciska Wyns

Ended

At this address

Other companies at this address

Company	CBE no.
Oak Pharma● Active	0655.792.749

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full 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	10/07/2026	09/09/2025	23/07/2024	26/07/2023	29/06/2022	23/07/2021
General meeting	26/06/2026	20/06/2025	28/06/2024	30/06/2023	02/06/2022	24/06/2021
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
Full model	31/12/2025	26/06/2026	10/07/2026	Dutch	PDF
Full modelCorrection	31/12/2024	20/06/2025	09/09/2025	Dutch	PDF
Full model	31/12/2024	20/06/2025	10/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	23/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	26/07/2023	Dutch	PDF
Full model	31/12/2021	02/06/2022	29/06/2022	Dutch	PDF
Abridged model	31/12/2020	24/06/2021	23/07/2021	Dutch	PDF
Abridged model	31/12/2019	24/06/2020	17/07/2020	Dutch	PDF
Abridged model	31/12/2018	24/06/2019	17/07/2019	Dutch	PDF
Abridged model	31/12/2017	24/06/2018	17/07/2018	Dutch	PDF
Abridged model	31/12/2016	24/06/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	24/06/2015	08/07/2015	Dutch	PDF
Abridged model	31/12/2013	24/06/2014	16/07/2014	Dutch	PDF
Abridged model	31/12/2012	24/06/2013	19/07/2013	Dutch	PDF
Abridged model	31/12/2011	24/06/2012	20/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	01/07/2011	Dutch	PDF
Abridged model	31/12/2009	20/06/2010	12/07/2010	Dutch	PDF
Abridged model	31/12/2008	20/06/2009	01/07/2009	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	23/06/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 4 active · 20 ended

Active mandates

CORUJO

Director · since 02 juin 2022 · until 20 juin 2028 · 0479.520.686

Represented by Ward Vercaemst

Active

Manipuro

Director · since 02 juin 2022 · until 20 juin 2028 · 0729.642.809

Represented by Ciska Wyns

Active

Melissa Hellebuyck

Director · since 02 juin 2022 · until 20 juin 2028

Active

RIAS BAIXAS

Managing director · since 02 juin 2022 · until 20 juin 2028 · 0479.520.785

Represented by Peter Vercaemst

Active

Ended mandates

Melissa Hellebuyck

Director · since 02 février 2022 · until 20 juin 2028

Ended

CORUJO

Director · since 02 janvier 2021 · until 02 janvier 2027 · 0479.520.686

Represented by Ward Vercaemst

Ended

Manipuro

Director · since 01 juillet 2019 · until 20 juin 2025 · 0729.642.809

Represented by Ciska Wyns

Ended

Manipuro

Director · since 01 juillet 2019 · until 24 juin 2025 · 0729.642.809

Represented by Ciska Wyns

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other23/01/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates05/01/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/02/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/08/2021
DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates20/04/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/06/2018
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 20251,6 M €↑
2024
Annual accounts 2024990,4 k €↑
2023
Annual accounts 2023802,8 k €↓
2022
Annual accounts 2022825,5 k €↓
2021
Annual accounts 20211,1 M €↑
2020
Annual accounts 20201,1 M €↑
2019
Annual accounts 2019267,8 k €↑
2018
Annual accounts 2018188,4 k €↑
2017
Annual accounts 2017139,3 k €↓
2016
Annual accounts 2016242,5 k €↑
2015
Annual accounts 2015221,7 k €↑
2014
Annual accounts 2014143,1 k €↑
2013
Annual accounts 201333,8 k €↓
2012
Annual accounts 201247,2 k €↓
2011
Annual accounts 201184,6 k €↑
2010
Annual accounts 201024,8 k €↑
2009
Annual accounts 2009-241 k €↓
2008
Annual accounts 2008-45,5 k €↓
2007
Annual accounts 2007563,2 €
08/09/2006
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

KEYPHARM

Overview

What does KEYPHARM do?

Trend over 19 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