ACTIVE

PHARMA FLEX

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Financial year 2025 · closed on 31/12/2025

Net result

4,3 M €

-41.4% YoY

Revenue

2,1 M €

+10.4% YoY

Equity

10,5 M €

+7.9% YoY

Workforce

3,8 ETP

-11.6% YoY

What does PHARMA FLEX do?

PHARMA FLEX is a Public limited company incorporated in 2008. Its main activity is: Manufacture of other general-purpose machinery n.e.c.. Its registered office is in Nivelles. It employs on average 3,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0897.187.147

Incorporation

04/04/2008

Legal form

Public limited company

Registered office

Rue Graham Bell 8
1402 Nivelles · WallonieSee on map

Contributed capital

400 000,00 €

Latest accounts

31/12/2025

Average workforce

3,8 ETP

Activities (NACE)

28299Manufacture of other general-purpose machinery n.e.c.· main 28299Manufacture of other general-purpose machinery n.e.c.28990Manufacture of other special-purpose machinery n.e.c.28990Manufacture of other special-purpose machinery n.e.c.46180Agents specialised in the sale of other particular products 46180Agents specialised in the sale of other particular products

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Revenue	2,1 M €	+10.4%	1,9 M €	-16.0%	2,3 M €	-82.2%	12,7 M €	-3.5%	13,2 M €	+15.0%	11,5 M €	-14.5%	13,4 M €	+10.3%	12,2 M €	+24.4%	9,8 M €	-26.9%	13,4 M €	+29.4%	10,3 M €	+21.8%	8,5 M €	-27.0%	11,6 M €		–		–		–		–
EBITDA	79,9 k €	+739%	9,5 k €	+119%	-50,6 k €	-107%	732,8 k €	-59.6%	1,8 M €	+79.4%	1 M €	-44.0%	1,8 M €	+21.9%	1,5 M €	+84.3%	803,1 k €	-52.3%	1,7 M €	-4.2%	1,8 M €	+14.7%	1,5 M €	-37.7%	2,5 M €	-30.0%	3,5 M €	+39.0%	2,5 M €	+190%	873,9 k €	-36.2%	1,4 M €
Operating result	38,9 k €	+828%	-5,3 k €	+93.3%	-79,9 k €	-151%	155,7 k €	-88.2%	1,3 M €	+78.7%	738,1 k €	-58.5%	1,8 M €	+23.8%	1,4 M €	+82.8%	785,5 k €	-53.0%	1,7 M €	-4.3%	1,7 M €	+14.6%	1,5 M €	-38.0%	2,5 M €	-26.4%	3,3 M €	+32.5%	2,5 M €	+193%	862,2 k €	-36.2%	1,4 M €
Net result	4,3 M €	-41.4%	7,4 M €	+35.2%	5,5 M €	+48.4%	3,7 M €	-19.2%	4,6 M €	+38.9%	3,3 M €	+41.2%	2,3 M €	+75.0%	1,3 M €	+193%	453,1 k €	-57.7%	1,1 M €	-11.8%	1,2 M €	+19.2%	1 M €	-34.5%	1,6 M €	-30.6%	2,2 M €	+33.4%	1,7 M €	+191%	576,6 k €	-34.1%	874,7 k €
Balance sheet
Equity	10,5 M €	+7.9%	9,7 M €	+59.9%	6,1 M €	-70.8%	20,9 M €	-3.8%	21,7 M €	+26.6%	17,1 M €	+23.7%	13,8 M €	+20.2%	11,5 M €	+13.1%	10,2 M €	+2.0%	10 M €	+12.0%	8,9 M €	+15.8%	7,7 M €	+7.2%	7,2 M €	-48.3%	13,9 M €	+19.3%	11,6 M €	+16.9%	10 M €	+6.2%	9,4 M €
Total assets	14,3 M €	+3.3%	13,8 M €	-25.6%	18,6 M €	-35.7%	29 M €	+6.1%	27,3 M €	+30.4%	20,9 M €	+39.7%	15 M €	+0.9%	14,9 M €	+12.6%	13,2 M €	-4.1%	13,8 M €	+4.5%	13,2 M €	-7.5%	14,2 M €	+10.9%	12,8 M €	-13.8%	14,9 M €	+20.0%	12,4 M €	+15.1%	10,8 M €	+10.1%	9,8 M €
Cash	1,5 M €	+46.8%	1 M €	-44.2%	1,9 M €	-67.0%	5,6 M €	-4.9%	5,9 M €	+120%	2,7 M €	+12.4%	2,4 M €	-16.5%	2,9 M €	+521%	461,1 k €	-35.1%	710,7 k €	-15.0%	836,4 k €	-75.6%	3,4 M €	+159%	1,3 M €	-69.3%	4,3 M €	+76.1%	2,5 M €	+64.7%	1,5 M €	+194%	505,5 k €
Debts	3,8 M €	-7.0%	4,1 M €	-67.0%	12,4 M €	+56.3%	8 M €	+44.4%	5,5 M €	+43.6%	3,8 M €	+240%	1,1 M €	-65.3%	3,2 M €	+7.6%	3 M €	-20.1%	3,8 M €	-9.3%	4,2 M €	-36.1%	6,5 M €	+14.9%	5,7 M €	+450%	1 M €	+30.7%	789,5 k €	-6.3%	842,4 k €	+97.7%	426 k €
Other
Workforce	3,8 ETP	-11.6%	4,3 ETP	+330%	1,0 ETP	-74.4%	3,9 ETP	+25.8%	3,1 ETP	+47.6%	2,1 ETP		–		–		–		–		–		–		–		–		–		–		0,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 13 ended

Active mandates

AdFines

Director · since 09 février 2024 · until 20 juin 2030 · 1005.928.404

Represented by Yvan Ferault

Active

AdFinitis

Director · since 09 février 2024 · until 20 juin 2030 · 1012.280.815

Represented by Martial Dollinger

Active

NextGen Invest

Director · since 09 février 2024 · until 20 juin 2030 · 1004.718.674

Represented by Claire Becker

Active

Martial Dollinger

Managing director · since 14 janvier 2020

Active

Ended mandates

Martial DOLLINGER

Managing director · since 04 juin 2020 · until 04 juin 2026

Ended

Claire BECKER

Director · since 26 mars 2014 · until 01 janvier 2020

Ended

Claire BECKER

Director · since 26 mars 2014 · until 14 janvier 2020

Ended

Claire BECKER

Director · since 26 mars 2014 · until 26 mars 2020

Ended

At this address

Other companies at this address

Company	CBE no.
AdFinitis● Active	1012.280.815
DOLFINANCE● Active	0444.022.844
DOLLIMMO BELGIUM● Active	0765.300.009
NextGen Invest● Active	1004.718.674
PHARMA TECHNOLOGY● Active	0443.803.803
PHARMA VAT UNIT● Active	0654.817.207

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	27/03/2026	15/04/2025	19/06/2024	29/06/2023	28/07/2022	28/07/2021
General meeting	26/03/2026	26/03/2025	05/04/2024	08/06/2023	30/06/2022	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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/03/2026	27/03/2026	French	PDF
Full model	31/12/2024	26/03/2025	15/04/2025	French	PDF
Full model	31/12/2023	05/04/2024	19/06/2024	French	PDF
Full model	31/12/2022	08/06/2023	29/06/2023	French	PDF
Full model	31/12/2021	30/06/2022	28/07/2022	French	PDF
Full model	31/12/2020	24/06/2021	28/07/2021	French	PDF
Full model	31/12/2019	29/06/2020	10/07/2020	French	PDF
Full model	31/12/2018	06/06/2019	30/07/2019	French	PDF
Full model	31/12/2017	07/06/2018	24/07/2018	French	PDF
Full model	31/12/2016	01/06/2017	26/07/2017	French	PDF
Full model	31/12/2015	02/06/2016	08/07/2016	French	PDF
Full model	31/12/2014	04/06/2015	29/07/2015	French	PDF
Full model	31/12/2013	05/06/2014	01/07/2014	French	PDF
Abridged model	30/09/2012	28/03/2013	11/04/2013	French	PDF
Abridged model	30/09/2011	22/03/2012	18/04/2012	French	PDF
Abridged model	30/09/2010	24/03/2011	24/03/2011	French	PDF
Abridged model	30/09/2009	25/03/2010	26/03/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 4 active · 13 ended

Active mandates

AdFines

Director · since 09 février 2024 · until 20 juin 2030 · 1005.928.404

Represented by Yvan Ferault

Active

AdFinitis

Director · since 09 février 2024 · until 20 juin 2030 · 1012.280.815

Represented by Martial Dollinger

Active

NextGen Invest

Director · since 09 février 2024 · until 20 juin 2030 · 1004.718.674

Represented by Claire Becker

Active

Martial Dollinger

Managing director · since 14 janvier 2020

Active

Ended mandates

Martial DOLLINGER

Managing director · since 04 juin 2020 · until 04 juin 2026

Ended

Claire BECKER

Director · since 26 mars 2014 · until 01 janvier 2020

Ended

Claire BECKER

Director · since 26 mars 2014 · until 14 janvier 2020

Ended

Claire BECKER

Director · since 26 mars 2014 · until 26 mars 2020

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates09/02/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates08/11/2022
DEMISSIONS, NOMINATIONS
PDF
Capital / shares05/04/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates07/07/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates03/10/2019
DEMISSIONS, NOMINATIONS
PDF
Capital / shares20/12/2017
CAPITAL, ACTIONS
PDF
Registered office30/11/2017
SIEGE SOCIAL
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 20254,3 M €↓
2024
Annual accounts 20247,4 M €↑
2023
Annual accounts 20235,5 M €↑
2022
Annual accounts 20223,7 M €↓
2021
Annual accounts 20214,6 M €↑
2020
Annual accounts 20203,3 M €↑
2019
Annual accounts 20192,3 M €↑
2018
Annual accounts 20181,3 M €↑
2017
Annual accounts 2017453,1 k €↓
2016
Annual accounts 20161,1 M €↓
2015
Annual accounts 20151,2 M €↑
2014
Annual accounts 20141 M €↓
2013
Annual accounts 20131,6 M €↓
2012
Annual accounts 20122,2 M €↑
2011
Annual accounts 20111,7 M €↑
2010
Annual accounts 2010576,6 k €↓
2009
Annual accounts 2009874,7 k €
04/04/2008
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

PHARMA FLEX

Overview

What does PHARMA FLEX do?

Trend over 17 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