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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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 2023 and 2024.
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Busy address KBO
20 other companies have their registered office at the same address; threshold 10.
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Legal situation KBO
Vrijwillige ontbinding – vereffening according to the CBE.
Financials
Financial year 2024
PDC line Pharma from Liège, company number BE0657842221, closed financial year 2024 with a result of € -11 million after tax. For that financial year PDC line Pharma recorded a gross margin of € 2.9 million and equity of € -7.8 million. Compared with financial year 2023, the result moved from € -5.8 million to € -11 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 August 26, 2025.
€ -7.8 million
▼ € 11 million vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -11 million
▼ 90 % more loss than in 2023
Profit after tax over the fiscal year.
€ 2.8 million
▲ 13% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -9 million.
People and assets in 2024
22.4
▲ 3.5 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▲ 9% vs 2023
€ 73,300 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.
€ 13,682
▼ 99% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 2.2 million
▲ 45% vs 2023
€ 667,253 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 1.6 million
▼ 56% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 162,709
▼ 33% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € 81,922 | € -598,768 | € -482,962 | € 2,904,991 | ▲ € 3.4 million |
| Profit after taxes | € -5,298,979 | € -5,975,741 | € -5,788,152 | € -11,011,945 | ▼ € 5.2 million |
| Equity | € 20,812,661 | € 8,999,030 | € 3,210,880 | € -7,801,066 | ▼ € 11 million |
| Total debts | € 5,947,383 | € 9,063,401 | € 9,266,808 | € 6,092,033 | ▼ 34% |
| Cash | € 10,906,863 | € 11,111,616 | € 2,470,910 | € 2,783,076 | ▲ 13% |
| Retained profit | € -16,387,144 | € -22,362,885 | € 0 | € -8,956,238 | |
| Bank debt | € 167,720 | € 78,772 | € 1,508,052 | € 2,180,974 | ▲ 45% |
| Balance sheet total | € 27,150,044 | € 18,093,874 | € 12,488,169 | € 3,759,513 | ▼ 70% |
| Employees (FTE) | 14.2 | 15.3 | 18.9 | 22.4 | ▲ 3.5 |
Key figures of PDC line Pharma, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to PDC line Pharma?
What happened at PDC line Pharma in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
PDC line Pharma is active according to the CBE. Legal situation: Vrijwillige ontbinding – vereffening.
- New annual accounts for financial year 2024: loss of € 11 million. filed late Source: NBB ↗
- NOSHAQ PARTNERS SC stepped down as director. NBB
- Lee SANGWOO stepped down as director. NBB
- Mondher MAHJOUBI stepped down as director. NBB
- Alain HERRERA stepped down as director. NBB
- JPP CONSULTING SRL stepped down as director. NBB
- Joël PLUMAS stepped down as director. NBB
- SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT SA stepped down as director. NBB
In short
From € 5.3 million loss in 2021 to € 11 million loss in 2024.
On average € 129,700 of value added per employee in 2024.
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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 SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT, INVESTSUD TECH, BELEAN.NET comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PDC line PharmaThe shares are held by SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT (21.5%), INVESTSUD TECH (2.8%) and BELEAN.NET (0.3%). It owns 100% of PDC LINE PHARMA SAS itself.
Directors
According to the 2024 annual accounts
Director · represented by Marleen LIMBOURG, Marleen Limbourg, Patrick STRAGIER
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, Fonderies J. Marichal Ketin et Cie, DARDENNE, SOGECOM, VITAVERDE.BIO, HAEMERS Technologies, SPACEBEL, NOSHAQ VENTURE +169 more
since 2021 · until 2025
Lee SANGWOO
Director
since 2021 · until 2025
Mondher MAHJOUBI
Chairman of the board
since 2021 · until 2025
Alain HERRERA
Director
since 2021 · until 2025
Director · represented by Jean-Paul PRIEELS
Also active at: CURAVAC EUROPE, ConvEyXo, XomeXBio, Exo-Harvest
since 2021 · until 2025
Joël PLUMAS
Director
since 2021 · until 2025
SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT SA
Director · represented by François FONTAINE
Also active at: Aviapartner Belgium, Société Anonyme Belge de Constructions Aéronautiques, Société Nationale de Construction Aérospatiale, COMETSAMBRE, ASCO INDUSTRIES, ZEPHYR - FIN, Sabena Aerospace Engineering, reMYND +57 more
since 2021 · until 2025
Laurent LEVY
Director
since 2021 · until 2025
Managing director · represented by Eric HALIOUA
since 2021 · until 2025
Shareholders
Participations
PDC LINE PHARMA SAS
100%
Establishments
Establishment units
Physical locations of this company
Rue Louvrex 55-57
4000 Liège
Boulevard de Patience et Beaujonc 3 box 6
4000 Liège
Active since 1 July 2023
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 →EXIMPA
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€ 305,980 gross margin · 2024
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€ 1.7 million gross margin · 2023
Agence locale pour l'Emploi de Villers-le-Bouillet
SPARX INDUSTRIES
€ 19.7 million revenue · 2024
+15 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0657.842.221
- VAT number
- BE 0657.842.221
- Registered office
- Rue Louvrex 55-57, 4000 Liège
- Names & denominations
- PDC line Pharma
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Vrijwillige ontbinding – vereffening
- Start date
- 30 June 2016
- Peppol
- Active · Active since 30 Dec 2025
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied