Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
AQUILON PHARMACEUTICALS from Seraing, company number BE0540870218, closed financial year 2025 with a result of € -444,073 after tax. For that financial year AQUILON PHARMACEUTICALS recorded a gross margin of € 1.3 million and equity of € 4.3 million. Compared with financial year 2024, the result moved from € -913,660 to € -444,073. The company made a loss. 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 22, 2026.
€ 4.3 million
▲ 228% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -444,073
▲ 51 % less loss than in 2024
Profit after tax over the fiscal year.
€ 389,042
▲ 87% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.4 million.
People and assets in 2025
8.7
▼ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 720,306
▼ 31% vs 2024
€ 82,800 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.
€ 1,226
▼ 56% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.4 million
▼ 26% vs 2024
€ 178,587 is repaid this year. At this pace the long-term loan is gone in ≈ 30 years.
€ 1.3 million
▼ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 122,707
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 451,097 | € 917,235 | € 991,768 | € 1,257,251 | ▲ 27% |
| Profit after taxes | € -762,477 | € -936,675 | € -913,660 | € -444,073 | ▲ € 469,587 |
| Equity | € 760,758 | € 1,863,008 | € 1,296,242 | € 4,254,081 | ▲ 228% |
| Total debts | € 7,054,518 | € 7,921,939 | € 9,009,762 | € 6,851,801 | ▼ 24% |
| Cash | € 603,141 | € 535,282 | € 208,427 | € 389,042 | ▲ 87% |
| Retained profit | € -1,963,625 | € -937,152 | € -1,400,812 | € -1,394,885 | |
| Bank debt | € 6,334,915 | € 6,592,571 | € 7,384,154 | € 5,428,244 | ▼ 26% |
| Balance sheet total | € 7,815,276 | € 9,784,947 | € 10,306,004 | € 11,105,882 | ▲ 8% |
| Employees (FTE) | 8.2 | 9.2 | 9.4 | 8.7 | ▼ 0.7 |
Key figures of AQUILON PHARMACEUTICALS, 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 AQUILON PHARMACEUTICALS?
What happened at AQUILON PHARMACEUTICALS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Charles NELLES stepped down as director. NBB
- Didier CATALDO stepped down as director. NBB
- Frank PIETERS stepped down as director. NBB
- MAES PHARMCONSULT SRL stepped down as director. NBB
- SCALE 1 SA stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 444,073. Source: NBB ↗
- Charles NELLES became a director. NBB
- Didier CATALDO became a director. NBB
In short
From € 762,477 loss in 2022 to € 444,073 loss in 2025.
On average € 144,500 of value added per employee in 2025.
A new publication or filing at AQUILON PHARMACEUTICALS? We notify you, reason included.
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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 stake of SAMBRINVEST SPIN-OFF/SPIN-OUT, SCALE I, P&L Projects comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
AQUILON PHARMACEUTICALSBehind AQUILON PHARMACEUTICALS are Moshe MANOR and Hassan BENAMEUR. The shares are held by SAMBRINVEST SPIN-OFF/SPIN-OUT (11.4%), SCALE I (3.4%) and P&L Projects (0.9%).
Directors
According to the 2025 annual accounts
Moshe MANOR
Director
since 2023
Hassan BENAMEUR
Director
since 2023
Didier CATALDO
Director
since 2024 · until 2030
Charles NELLES
Director
since 2025 · until 2031
Frank PIETERS
Director
since 2024 · until 2030
since 2024 · until 2030
Director · represented by Gauthier VAN DER ELST
since 2024 · until 2030
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Bois St-Jean 15/1
4102 Seraing
Rue Porte de Lorette(VIS) 76
4600 Visé
Active since 16 October 2013
Quai de la Boverie 59 box 2
4020 Liège
Active since 1 June 2019
Rue Auguste Piccard 48
6041 Charleroi
Active since 1 June 2019
Rue du Bois St-Jean 15 box 1
4102 Seraing
Active since 16 July 2021
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
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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
MICROSOFT-CORP-MSN-AS-BLOCK - Microsoft Corporation, US
Domain
Domain
aquilonpharma.com
Registered
2013-12-31
Registrar
OVH sas
Expires
2026-12-31
Website info
Features
Security
Details
- Company number
- 0540.870.218
- VAT number
- BE 0540.870.218
- Registered office
- Rue du Bois St-Jean 15/1, 4102 Seraing
- Names & denominations
- AQUILON PHARMACEUTICALS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 October 2013
- Peppol
- Active · Active since 6 Nov 2025
- Contact
- aquilonpharma.com [email protected]
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied
Activiteiten op het gebied van voeding
Overige menselijke gezondheidszorg, n.e.g.