Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 7 to 2.8.
-
Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
VESALE PHARMACEUTICA from Gembloux, company number BE0452282591, closed financial year 2025 with a result of € -362,888 after tax. For that financial year VESALE PHARMACEUTICA recorded a gross margin of € 2.2 million and equity of € 3.1 million. Compared with financial year 2024, the result moved from € 242,636 to € -362,888. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 29, 2026.
€ 3.1 million
▼ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -362,888
▼ still € 242,636 profit in 2024
Profit after tax over the fiscal year.
€ 1.5 million
▲ € 1.4 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 804,110.
People and assets in 2025
2.8
▼ 3.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 282,756
▼ 38% vs 2024
€ 101,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 9,383
▼ 53% vs 2024
Of which on lease € 0.
Debts at end 2025
€ 88,163
▼ 33% vs 2024
Loans from banks and other lenders, long and short.
€ 644,478
▲ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 32,837
▼ 12% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,068,789 | € 1,067,709 | € 1,050,131 | € 2,195,184 | ▲ 109% |
| Profit after taxes | € 340,451 | € 206,076 | € 242,636 | € -362,888 | ▼ € 605,524 |
| Equity | € 3,018,286 | € 3,224,362 | € 3,466,998 | € 3,104,110 | ▼ 10% |
| Total debts | € 2,444,828 | € 1,721,077 | € 1,056,700 | € 920,824 | ▼ 13% |
| Cash | € 109,472 | € 98,388 | € 120,853 | € 1,506,679 | ▲ € 1.4 million |
| Retained profit | € 718,286 | € 924,362 | € 1,166,998 | € 804,110 | ▼ 31% |
| Bank debt | € 654,193 | € 132,244 | € 132,244 | € 88,163 | ▼ 33% |
| Balance sheet total | € 5,463,114 | € 4,945,439 | € 4,523,698 | € 4,024,934 | ▼ 11% |
| Employees (FTE) | 6.1 | 7 | 6 | 2.8 | ▼ 3.2 |
Key figures of VESALE PHARMACEUTICA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to VESALE PHARMACEUTICA?
What happened at VESALE PHARMACEUTICA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Aquitania SA stepped down as director. NBB
- MD Consult SA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 362,888 (▼ € 605,524 vs 2024). Source: NBB ↗
- Jehan Lienart van Lidth de Jeude stepped down as director. NBB
- Nathalie Géruzet stepped down as director. NBB
- Aquitania SA became a director. NBB
- MD Consult SA became a director. NBB
- Rode Ventures SRL stepped down as director. NBB
In short
From € 340,451 profit in 2022 to € 362,888 loss in 2025.
Paid € 36,127 in corporate taxes since 2022.
Best year ever: 2022, with € 340,451 profit.
On average € 784,000 of value added per employee in 2025.
Management
The stake of Ceres Pharma comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
VESALE PHARMACEUTICAThe shares are held by Ceres Pharma (100%).
Directors
According to the 2025 annual accounts
Nathalie Géruzet
Director
since 2020 · until 2025
Director · represented by Anja Imschoot
Also active at: Ceres Pharmaceuticals, b+pharma Belgium, DGPharma, Labophar, 2PHARMA HOLDING, MD Pharma, GLOBIFER INTL, CREDOPHAR +1 more
since 2025 · until 2031
Director · represented by Mario Debel
Also active at: Ceres Pharmaceuticals, 2PHARMA HOLDING, MD Pharma, Azur Medical, AUGMENTED ANATOMY, GLOBIFER INTL, CREDOPHAR, 2PHARMA
since 2025 · until 2031
Director · represented by Pierre Iweins d'Eechoutte
Also active at: BROUWERIJ-HANDELSMAATSCHAPPIJ, ARTIFREEZE, OP FOODS
since 2019 · until 2025
Vesale Pharma International SA
Managing director · represented by Jehan Lienart van Lidth de Jeude
since 2019 · until 2025
Jehan Lienart van Lidth de Jeude
Director
since 2025 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Jean Sonet,Isnes 29
5032 Gembloux
Rue Louis Allaert,Noville 9
5310 Eghezée
Active since 12 October 1999
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0452.282.591
- VAT number
- BE 0452.282.591
- Registered office
- Rue Jean Sonet,Isnes 29, 5032 Gembloux
- Names & denominations
- VESALE PHARMACEUTICA · VESALE PHARMA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 March 1994
- Peppol
- Active · Active since 11 Dec 2025
- Activities · NACE
Groothandel in farmaceutische en medische artikelen
Groothandel in farmaceutische producten
Groothandel in parfumerieën en cosmetica