Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 56 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 45.6 to 37.
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Busy address KBO
20 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Ceres Pharma from Gent, company number BE0641953324, closed financial year 2025 with a result of € -14.4 million after tax. For that financial year Ceres Pharma recorded revenue of € 35.3 million and equity of € -1.6 million. Compared with financial year 2024, the result moved from € -10.5 million to € -14.4 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 6, 2026.
€ -1.6 million
▼ € 14.4 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -14.4 million
▼ 37 % more loss than in 2024
Profit after tax over the fiscal year.
€ 395,847
▼ 89% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -51.9 million.
People and assets in 2025
37
▼ 5.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.1 million
▼ 9% vs 2024
€ 109,600 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.
Debts at end 2025
€ 222.7 million
▲ 27% vs 2024
Loans from banks and other lenders, long and short.
€ 19.1 million
▲ 45% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 254 days on average.
€ 684,488
▲ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 34,554,620 | € 42,448,840 | € 35,048,862 | € 35,316,546 | ▲ 1% |
| Profit after taxes | € -4,564,419 | € -6,271,588 | € -10,467,443 | € -14,351,566 | ▼ € 3.9 million |
| Equity | € 11,431,494 | € 18,659,903 | € 12,801,257 | € -1,550,308 | ▼ € 14.4 million |
| Total debts | € 112,618,143 | € 155,288,903 | € 201,892,365 | € 267,437,987 | ▲ 32% |
| Cash | € 6,592,268 | € 17,967,300 | € 3,551,221 | € 395,847 | ▼ 89% |
| Retained profit | € -20,834,946 | € -27,106,535 | € -37,573,977 | € -51,925,543 | ▼ € 14.4 million |
| Bank debt | € 92,820,034 | € 127,943,857 | € 175,330,000 | € 222,715,000 | ▲ 27% |
| Balance sheet total | € 124,049,636 | € 173,948,807 | € 214,693,622 | € 265,887,679 | ▲ 24% |
| Employees (FTE) | 38.1 | 45.6 | 42.1 | 37 | ▼ 5.1 |
Key figures of Ceres 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 Ceres Pharma?
What happened at Ceres Pharma in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Ceres Invest BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 14.4 million. Source: NBB ↗
- Ceres Invest BV became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 4.6 million loss in 2022 to € 14.4 million loss in 2025.
Paid € 56,214 in corporate taxes since 2022.
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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 Ceres Invest BV (100%). It owns 100% of Ceres Pharma Serbia doo, 100% of Dacia Plant, 100% of Vesale Pharma, 100% of Ceres Pharma Slovakia SRO, 100% of Technokom Trade EOOD and 100% of Ceumed s.r.o.CZ itself.
Directors
According to the 2025 annual accounts
Director · represented by Mario Debel
since 2021 · until 2027
Shareholders
100%
Participations
Ceres Pharma Serbia doo
100%
Dacia Plant
100%
100%
Ceres Pharma Slovakia SRO
100%
100%
Ceumed s.r.o.CZ
100%
100%
100%
100%
100%
100%
100%
Ceres Pharma Italy SRL
100%
100%
Ceres Pharma Hungary Kft.
100%
Ceres Pharma Romania
100%
Establishments
Establishment units
Physical locations of this company
Kortrijksesteenweg 1091 box B
9051 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 20 companies are registered at this address.
All companies at this address →Ceres Pharmaceuticals same network
€ 14.6 million revenue · 2025
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€ 287,023 gross margin · 2025
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€ 94,120 gross margin · 2024
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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.
Details
- Company number
- 0641.953.324
- VAT number
- BE 0641.953.324
- Registered office
- Kortrijksesteenweg 1091 bus B, 9051 Gent
- Names & denominations
- Ceres Pharma
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 October 2015
- Peppol
- Active · Active since 26 Aug 2025
- Activities · NACE
Groothandel in farmaceutische en medische artikelen
Vervaardiging van andere voedingsmiddelen, neg
Overige detailhandel in voedingsmiddelen, neg
Overige detailhandel in voedingsmiddelen in gespecialiseerde winkels, n.e.g.