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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 34 to 29.
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Figures corrected NBB
Corrected annual account filed for 2025.
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Busy address KBO
27 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
EYED PHARMA from Liège, company number BE0508599605, closed financial year 2025 with a result of € -6.9 million after tax. For that financial year EYED PHARMA recorded revenue of € 10.5 million and equity of € 17.4 million. Compared with financial year 2024, the result moved from € -6.9 million to € -6.9 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 6, 2026.
€ 17.4 million
▼ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -6.9 million
Profit after tax over the fiscal year.
€ 1.3 million
▲ 7% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -19.9 million.
People and assets in 2025
29
▼ 4.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.2 million
▼ 22% vs 2024
€ 108,700 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.
€ 22,727
▼ 20% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 31.4 million
▲ 91% vs 2024
€ 996,324 is repaid this year. At this pace the long-term loan is gone in ≈ 26 years.
€ 1.3 million
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 347,422
▼ 47% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 11,761,713 | € 10,494,903 | ▼ 11% |
| Gross margin | € 1,092,560 | € 1,100,047 | € 254,123 | € 531,035 | ▲ 109% |
| Profit after taxes | € -6,310,755 | € -6,034,167 | € -6,940,910 | € -6,921,488 | |
| Equity | € 16,296,064 | € 27,522,992 | € 22,782,731 | € 17,370,564 | ▼ 24% |
| Total debts | € 10,813,293 | € 10,343,014 | € 19,549,961 | € 33,242,885 | ▲ 70% |
| Cash | € 3,473,979 | € 1,033,545 | € 1,214,166 | € 1,300,599 | ▲ 7% |
| Retained profit | € -19,033,744 | € -6,034,167 | € -12,975,077 | € -19,896,564 | ▼ € 6.9 million |
| Bank debt | € 5,652,426 | € 5,886,143 | € 16,466,628 | € 31,414,495 | ▲ 91% |
| Balance sheet total | € 27,109,357 | € 37,866,006 | € 42,332,692 | € 50,613,449 | ▲ 20% |
| Employees (FTE) | 40 | 34 | 33.5 | 29 | ▼ 4.5 |
Key figures of EYED PHARMA, 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 EYED PHARMA?
What happened at EYED PHARMA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jean Marie Rakic stepped down as director. NBB
- Noshaq stepped down as director. NBB
- Pierre Bellichard stepped down as director. NBB
- Jean Philippe Combal stepped down as director. NBB
- Robert Taub stepped down as director. NBB
- Marc Foidart stepped down as director. NBB
- Fund + stepped down as director. NBB
- Corrected annual accounts filed for financial year 2025. filed late Source: NBB ↗
In short
From € 6.3 million loss in 2022 to € 6.9 million loss in 2025.
On average € 18,300 of value added per employee in 2025.
Management
The stake of Fund+, Ophtalmologie Chirurgicale Van Cauwenberge Rakic, QBIC II FUND ARKIV, OUSIA, WTW AG comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
EYED PHARMAThe shares are held by Fund+ (15%), Ophtalmologie Chirurgicale Van Cauwenberge Rakic (5.1%), QBIC II FUND ARKIV (4.1%), OUSIA (1.1%) and WTW AG (0%).
Directors
According to the 2025 annual accounts
since 2025 · until 2029
Director · represented by Baudouin Jolly
Also active at: Compagnie Het Zoute, UniD Manufacturing, ONE WORLD AVENUE
since 2021 · until 2026
Director · represented by Caroline Thielen
Also active at: C.P. Bourg, A.M.B., Jean Goldschmidt International, Ateliers Pierre Cerfontaine, Floridienne, Fonderies J. Marichal Ketin et Cie, JUNGLING, MEBF +224 more
since 2021 · until 2026
Director · represented by Eric Brandt
Also active at: FRANKI, Iso - Calor, DARDENNE, DAO, Bureau d'Etudes Pierre Berger, SOGECOM, NOSHAQ IMMO, GABRIEL +59 more
since 2025 · until 2029
Pierre Bellichard
Chairman of the board
since 2025 · until 2029
Jean Philippe Combal
Director
since 2025 · until 2029
since 2023 · until 2027
since 2025 · until 2029
since 2025 · until 2029
Shareholders
15%
4.1%
1.1%
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Boulevard de Patience et Beaujonc 3 box 9
4000 Liège
Rue Louis Plescia 9
4102 Seraing
Active since 20 December 2012
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 27 companies are registered at this address.
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€ 2.4 million gross margin · 2025
DERMAX
€ 1.6 million revenue · 2025
Hyloris
€ 384,852 revenue · 2025
Hyloris Pharmaceuticals
€ 3.8 million revenue · 2025
+22 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
eyedpharma.com
Registered
2013-12-03
Registrar
OVH sas
Expires
2026-12-03
Website info
Features
Security
Network
Details
- Company number
- 0508.599.605
- VAT number
- BE 0508.599.605
- Registered office
- Boulevard de Patience et Beaujonc 3 bus 9, 4000 Liège
- Names & denominations
- EYED PHARMA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 December 2012
- Peppol
- Active · Active since 28 Aug 2025
- Contact
- eyedpharma.com
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied