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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Figures corrected NBB
Corrected annual account filed for 2023, 2024.
Financials
Financial year 2025
Ncardia Holding from Mont-Saint-Guibert, company number BE0565979162, closed financial year 2025 with a result of € -5.7 million after tax. For that financial year Ncardia Holding recorded a gross margin of € -1.5 million and equity of € 98.8 million. Compared with financial year 2024, the result moved from € 1.8 million to € -5.7 million. 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 June 10, 2026.
€ 98.8 million
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5.7 million
▼ still € 1.8 million profit in 2024
Profit after tax over the fiscal year.
€ 665,545
▼ 94% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -19.3 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 6.2 million
Loans from banks and other lenders, long and short.
€ 3 million
▲ 44% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 435,632
▼ 66% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -301,580 | € -563,631 | € -2,151,694 | € -1,468,925 | ▲ € 682,769 |
| Profit after taxes | € -267,626 | € 1,694,437 | € 1,757,139 | € -5,677,961 | ▼ € 7.4 million |
| Equity | € 54,326,893 | € 72,521,330 | € 104,501,677 | € 98,823,716 | ▼ 5% |
| Total debts | € 3,568,265 | € 3,486,369 | € 3,351,007 | € 9,604,222 | ▲ 187% |
| Cash | € 33,156,209 | € 13,188,118 | € 10,521,901 | € 665,545 | ▼ 94% |
| Retained profit | € -17,025,966 | € -15,331,529 | € -13,574,391 | € -19,252,351 | ▼ € 5.7 million |
| Bank debt | € 0 | € 0 | € 0 | € 6,187,871 | |
| Balance sheet total | € 57,895,158 | € 76,007,699 | € 107,852,684 | € 108,427,938 | ▲ 1% |
Key figures of Ncardia Holding, 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 Ncardia Holding?
What happened at Ncardia Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Tim Van Biesen stepped down as director. NBB
- BioPharma Management and Consulting SRL stepped down as director. NBB
- Nicholas 0'Leary stepped down as director. NBB
- Geoffrey Glass stepped down as director. NBB
- Jason Conner stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 5.7 million (▼ € 7.4 million vs 2024). Source: NBB ↗
- Jason Conner became a director. NBB
- Tim Van Biesen became a director. NBB
In short
From € 267,626 loss in 2022 to € 5.7 million loss in 2025.
Paid € 553,498 in corporate taxes since 2022.
Best year ever: 2024, with € 1.8 million profit.
A new publication or filing at Ncardia Holding? 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
It owns 0% of NCardia US Inc., 0% of Ncardia B.V., 0% of Cellistic NV and 0% of Celyntra Therapeutics itself.
Directors
According to the 2025 annual accounts
BioPharma Management and Consulting SRL
Director · represented by Denis Bedoret
since 2021 · until 2027
Nicholas 0'Leary
Director
since 2021 · until 2027
Geoffrey Glass
Director
since 2021 · until 2027
since 2026 · until 2027
Tim Van Biesen
Director
since 2024 · until 2030
Establishments
Establishment units
Physical locations of this company
Rue Edouard Belin 2
1435 Mont-Saint-Guibert
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0565.979.162
- VAT number
- BE 0565.979.162
- Registered office
- Rue Edouard Belin 2, 1435 Mont-Saint-Guibert
- Names & denominations
- Ncardia Holding
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 October 2014
- Peppol
- Active · Active since 2 Dec 2025
- Contact
- ncardia.com [email protected]
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overig speur- en ontwikkelingswerk op natuurwetenschappelijk gebied
Overige technische testen en toetsen
Overige zakelijke dienstverlening, neg
Overig speur- en ontwikkelingswerk op natuurwetenschappelijk gebied
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
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