ACTIVE

SYLPHAR

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Financial year 2025 · closed on 31/12/2025

Net result

2,3 M €

+106.9% YoY

Revenue

25 M €

-25.2% YoY

Equity

34,2 M €

+7.2% YoY

Workforce

26,7 ETP

-14.7% YoY

What does SYLPHAR do?

SYLPHAR is a Public limited company incorporated in 2007. Its main activity is: Wholesale of pharmaceutical goods. Its registered office is in Sint-Martens-Latem. It employs on average 26,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0892.362.188

Incorporation

27/09/2007

Legal form

Public limited company

Registered office

Xavier De Cocklaan 24
9831 Sint-Martens-Latem · FlandreSee on map

Contributed capital

64 010 156,00 €

Latest accounts

31/12/2025

Average workforce

26,7 ETP

Activities (NACE)

46460Wholesale of pharmaceutical goods· main 46460Wholesale of pharmaceutical goods 51460Air transport

Joint committees (2)

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 16 financial years

	2025		2024		2023		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	25 M €	-25.2%	33,4 M €	+15.8%	28,8 M €	+101%	14,3 M €	-51.4%	29,5 M €	+6.8%	27,6 M €	+46.8%	18,8 M €	+53.1%	12,3 M €	-9.8%	13,6 M €	+77.8%	7,7 M €	+60.4%	4,8 M €	+15.0%	4,2 M €	-4.4%	4,3 M €	+112%	2 M €	-20.6%	2,6 M €	+42.8%	1,8 M €
EBITDA	3,9 M €	-18.0%	4,8 M €	+13.3%	4,2 M €	+504%	697,1 k €	-86.0%	5 M €	-12.6%	5,7 M €	+83.6%	3,1 M €	+136%	1,3 M €	+33.9%	982,2 k €	+30.3%	753,8 k €	+286%	195,1 k €	-72.1%	699,4 k €	-16.2%	835 k €	+279%	-465,9 k €	-329%	203,7 k €	+421%	39,1 k €
Operating result	1,2 M €	-11.6%	1,3 M €	-73.1%	4,9 M €	+819%	-675,7 k €	-115%	4,4 M €	-15.1%	5,2 M €	+92.2%	2,7 M €	+136%	1,1 M €	+43.9%	791,1 k €	+31.1%	603,6 k €	+294%	153,3 k €	-63.7%	422,3 k €	-31.2%	613,6 k €	+228%	-478,9 k €	-596%	96,5 k €	+180%	34,5 k €
Net result	2,3 M €	+107%	-33,1 M €	-356%	-7,3 M €	-960%	843,3 k €	-75.9%	3,5 M €	-8.3%	3,8 M €	+82.6%	2,1 M €	+119%	957,9 k €	+10.1%	870 k €	+89.3%	459,6 k €	+332%	106,3 k €	-51.8%	220,7 k €	-58.6%	533,5 k €	+203%	-517 k €	-934%	62 k €	+849%	6,5 k €
Balance sheet
Equity	34,2 M €	+7.2%	31,9 M €	-50.9%	65 M €	+356%	14,3 M €	+12.9%	12,6 M €	+38.4%	9,1 M €	+72.1%	5,3 M €	+65.3%	3,2 M €	+34.1%	2,4 M €	+57.2%	1,5 M €	+43.3%	1,1 M €	+11.1%	955,6 k €	+30.0%	734,9 k €	+265%	201,5 k €	-72.0%	718,5 k €	+9.4%	656,5 k €
Total assets	43,4 M €	-8.4%	47,3 M €	-54.4%	103,9 M €	+195%	35,3 M €	+63.5%	21,6 M €	+25.9%	17,1 M €	+55.1%	11 M €	+43.3%	7,7 M €	+25.7%	6,1 M €	+11.9%	5,5 M €	+37.4%	4 M €	+57.9%	2,5 M €	-2.2%	2,6 M €	+50.5%	1,7 M €	-21.8%	2,2 M €	+57.2%	1,4 M €
Cash	667 k €	-18.5%	818,2 k €	+22.8%	666,6 k €	-77.3%	2,9 M €	+85.5%	1,6 M €	-72.3%	5,7 M €	+150%	2,3 M €	+617%	317,8 k €	+64.2%	193,6 k €	-80.0%	966,9 k €	-12.2%	1,1 M €	+7.3%	1 M €	+2418%	40,8 k €	-52.9%	86,6 k €	-46.7%	162,6 k €	-30.4%	233,6 k €
Debts	7,2 M €	-53.4%	15,5 M €	-60.3%	39 M €	+85.5%	21 M €	+178%	7,6 M €	+2.9%	7,4 M €	+28.0%	5,7 M €	+32.6%	4,3 M €	+22.9%	3,5 M €	-9.5%	3,9 M €	+40.0%	2,8 M €	+97.4%	1,4 M €	-22.3%	1,8 M €	+21.6%	1,5 M €	+22.7%	1,2 M €	+71.4%	709,5 k €
Other
Workforce	26,7 ETP	-14.7%	31,3 ETP	-13.1%	36,0 ETP	+61.4%	22,3 ETP	-4.7%	23,4 ETP	+9.3%	21,4 ETP	+13.8%	18,8 ETP	0.0%	18,8 ETP	+20.5%	15,6 ETP	+22.8%	12,7 ETP	-6.6%	13,6 ETP	+29.5%	10,5 ETP	-4.5%	11,0 ETP	-4.3%	11,5 ETP	+17.3%	9,8 ETP	-36.8%	15,5 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 · 3 active · 23 ended

Active mandates

Egli MADSEN

Director · since 28 novembre 2024 · until 03 juin 2030

Active

Christoffer LORENZEN

Managing director · since 31 décembre 2023 · until 03 juin 2030

Active

Magnus BRUHN

Director · since 31 décembre 2023 · until 03 juin 2030

Active

Ended mandates

Egil MADSEN

Director · since 28 novembre 2024 · until 03 juin 2030

Ended

Jon Sebastiaan JONSSON

Director · since 31 décembre 2023 · until 28 novembre 2024

Ended

PANA Invest

Director · since 13 janvier 2022 · until 31 décembre 2023 · 0779.973.337

Represented by Patrick BAEYENS

Ended

Thyme Invest

Managing director · since 13 janvier 2022 · until 30 juin 2023 · 0675.624.992

Represented by Robin LIST

Ended

At this address

Other companies at this address

Company	CBE no.
Sylphar International● Active	0675.556.203

Annual accounts

Full financial information

	2025	2024	2023	2022	2022	2021
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	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	9 months	12 months	12 months
Filing date	03/06/2026	30/11/2025	24/03/2025	08/01/2024	18/01/2023	15/11/2021
General meeting	01/06/2026	25/11/2025	20/03/2025	13/10/2023	30/11/2022	05/11/2021
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	01/06/2026	03/06/2026	Dutch	PDF
Full model	31/12/2024	25/11/2025	30/11/2025	Dutch	PDF
Full model	31/12/2023	20/03/2025	24/03/2025	Dutch	PDF
Full model	31/12/2022	13/10/2023	08/01/2024	Dutch	PDF
Full model	31/03/2022	30/11/2022	18/01/2023	Dutch	PDF
Full model	31/03/2021	05/11/2021	15/11/2021	Dutch	PDF
Full model	31/03/2020	09/10/2020	23/11/2020	Dutch	PDF
Full model	31/03/2019	02/09/2019	01/10/2019	Dutch	PDF
Full model	31/03/2018	01/09/2018	28/09/2018	Dutch	PDF
Full model	31/03/2017	01/09/2017	22/09/2017	Dutch	PDF
Full modelCorrection	31/03/2016	09/09/2016	13/09/2016	Dutch	PDF
Full model	31/03/2016	30/06/2016	08/08/2016	Dutch	PDF
Full model	31/03/2015	30/09/2015	30/09/2015	Dutch	PDF
Full model	31/03/2014	30/09/2014	07/10/2014	Dutch	PDF
Full model	31/03/2013	24/01/2014	28/01/2014	Dutch	PDF
Full model	31/03/2012	25/09/2012	30/10/2012	Dutch	PDF
Full model	31/03/2011	31/08/2011	01/09/2011	Dutch	PDF
Full model	31/03/2010	30/09/2010	25/10/2010	Dutch	PDF
Full model	31/03/2009	30/09/2009	22/10/2009	Dutch	PDF
Full model	31/03/2008	29/09/2008	29/10/2008	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 · 3 active · 23 ended

Active mandates

Egli MADSEN

Director · since 28 novembre 2024 · until 03 juin 2030

Active

Christoffer LORENZEN

Managing director · since 31 décembre 2023 · until 03 juin 2030

Active

Magnus BRUHN

Director · since 31 décembre 2023 · until 03 juin 2030

Active

Ended mandates

Egil MADSEN

Director · since 28 novembre 2024 · until 03 juin 2030

Ended

Jon Sebastiaan JONSSON

Director · since 31 décembre 2023 · until 28 novembre 2024

Ended

PANA Invest

Director · since 13 janvier 2022 · until 31 décembre 2023 · 0779.973.337

Represented by Patrick BAEYENS

Ended

Thyme Invest

Managing director · since 13 janvier 2022 · until 30 juin 2023 · 0675.624.992

Represented by Robin LIST

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/04/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/03/2023
ONTSLAGEN - BENOEMINGEN
PDF
Other23/11/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ALGEMENE VERGADERING - BOEKJAAR
PDF
Capital / shares22/04/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
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

08/01/2026
nominationBrecht Buysschaert — vaste vertegenwoordiger van de commissaris
2025
Annual accounts 20252,3 M €↑
01/01/2025
nominationMaarten Poel — vaste vertegenwoordiger van de commissaris
2024
Annual accounts 2024-33,1 M €↓
28/11/2024
nominationEgil Madsen — B-bestuurder
26/04/2024
nominationMaarten Poel — vaste vertegenwoordiger (commissaris)
31/12/2023
nominationMagnus Bruhn — B-bestuurder
31/12/2023
reconductionChristoffer Lorenzen — A-bestuurder
31/12/2023
reconductionJon Jonsson — B-bestuurder
2023
Annual accounts 2023-7,3 M €↓
30/06/2023
nominationChristoffer Lorenzen — gedelegeerd bestuurder
13/04/2022
nominationLORENZEN Christoffer — A-bestuurder
13/04/2022
nominationJONSSON Jon — B-bestuurder
13/04/2022
nominationThyme Invest BV — B-bestuurder
13/04/2022
nominationPana Invest BV — B-bestuurder
13/04/2022
augmentation_capitalSylphar International NV
01/04/2022
nominationKPMG Bedrijfsrevisoren — commissaris
2021
Annual accounts 2021843,3 k €↓
2019
Annual accounts 20193,5 M €↓
2018
Annual accounts 20183,8 M €↑
2017
Annual accounts 20172,1 M €↑
2016
Annual accounts 2016957,9 k €↑
2015
Annual accounts 2015870 k €↑
2014
Annual accounts 2014459,6 k €↑
2013
Annual accounts 2013106,3 k €↓
2012
Annual accounts 2012220,7 k €↓
2011
Annual accounts 2011533,5 k €↑
2010
Annual accounts 2010-517 k €↓
2009
Annual accounts 200962 k €↑
2008
Annual accounts 20086,5 k €
27/09/2007
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

SYLPHAR

Overview

What does SYLPHAR 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