Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 42 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2025.
Financials
Financial year 2025
Novo Nordisk Production Belgium SA from Brussel, company number BE0465935738, closed financial year 2025 with a result of € 11.9 million after tax. For that financial year Novo Nordisk Production Belgium SA recorded revenue of € 258.6 million and equity of € 74.2 million. Compared with financial year 2024, the result moved from € -7.5 million to € 11.9 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.
€ 74.2 million
▲ 19% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 11.9 million
▲ still € 7.5 million loss in 2024
Profit after tax over the fiscal year.
€ 6.5 million
▼ 5% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -42.8 million.
People and assets in 2025
587.2
▲ 29 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 92.9 million
▲ 84% vs 2024
€ 158,200 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.
€ 1 million
▼ 18% vs 2024
Of which on lease € 800,000.
Debts at end 2025
€ 4.8 million
▼ 72% vs 2024
€ 80,000 is repaid this year. At this pace the long-term loan is gone in ≈ 17 years.
€ 43.8 million
▲ 65% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 104 days on average.
€ 16.9 million
▲ 91% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 52,256,616 | € 57,028,590 | € 134,557,529 | € 258,618,660 | ▲ 92% |
| Profit after taxes | € -46,690,437 | € 5,629,164 | € -7,517,040 | € 11,871,593 | ▲ € 19.4 million |
| Equity | € 64,241,204 | € 69,870,368 | € 62,353,328 | € 74,224,921 | ▲ 19% |
| Total debts | € 74,597,172 | € 45,470,921 | € 75,871,188 | € 72,442,045 | ▼ 5% |
| Cash | € 42,267,496 | € 1,333,437 | € 6,857,256 | € 6,495,193 | ▼ 5% |
| Land & buildings | € 15,488,178 | € 21,870,077 | € 20,519,810 | € 21,969,694 | ▲ 7% |
| Retained profit | € -52,794,920 | € -47,165,756 | € -54,682,795 | € -42,811,202 | ▲ € 11.9 million |
| Bank debt | € 36,694,072 | € 7,529,028 | € 16,870,317 | € 4,797,665 | ▼ 72% |
| Balance sheet total | € 138,838,375 | € 115,341,289 | € 138,224,517 | € 153,475,766 | ▲ 11% |
| Employees (FTE) | 515.6 | 540.6 | 558.2 | 587.2 | ▲ 29 |
Key figures of Novo Nordisk Production Belgium SA, 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 Novo Nordisk Production Belgium SA?
What happened at Novo Nordisk Production Belgium SA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- John KUCKELMAN stepped down as director. NBB
- Erik, Lorin RASMUSSEN stepped down as director. NBB
- Andrew FINNEGAN stepped down as director. NBB
- Geoffroy BECKERS stepped down as director. NBB
- Sabine CARLINO stepped down as director. NBB
- Dzenana CENGIC stepped down as director. NBB
- Corrected annual accounts filed for financial year 2025. Source: NBB ↗
- Bruno STUTZMANN stepped down as director. NBB
In short
From € 46.7 million loss in 2022 to € 11.9 million profit in 2025.
Paid € 1.8 million in corporate taxes since 2022.
Best year ever: 2025, with € 11.9 million profit.
Pays suppliers within 104 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Novo Nordisk Belgium Manufacturing Holding S (100%).
Directors
According to the 2025 annual accounts
since 2024 · until 2024
since 2024 · until 2031
since 2024 · until 2031
since 2024 · until 2031
Geoffroy BECKERS
Managing director
Also active at: Novo Nordisk Belgium Manufacturing Holding SA, AM Biologics Filling Brussels
since 2025 · until 2031
since 2025 · until 2031
since 2024 · until 2025
Dzenana CENGIC
Managing director
since 2025 · until 2031
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Sint Lendriksborre 10
1120 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0465.935.738
- VAT number
- BE 0465.935.738
- Registered office
- Sint Lendriksborre 10, 1120 Brussel
- Names & denominations
- Novo Nordisk Production Belgium SA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 April 1999
- Peppol
- Active · Active since 3 Oct 2025
- Activities · NACE
Vervaardiging van geneesmiddelen
Vervaardiging van overige farmaceutische producten
Vervaardiging van overige farmaceutische preparaten