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 2 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 24 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
IGS PHARMA from Sint-Gillis (bij-Brussel), company number BE0739742487, closed financial year 2025 with a result of € -97,048 after tax. For that financial year IGS PHARMA recorded a gross margin of € 86,248 and equity of € -155,693. Compared with financial year 2024, the result moved from € -138,038 to € -97,048. 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 September 3, 2026.
€ -155,693
▼ € 97,048 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -97,048
▲ 30 % less loss than in 2024
Profit after tax over the fiscal year.
€ 10,157
▲ € 8,378 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -156,693.
People and assets in 2025
€ 73,544
▼ 27% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 52,789
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 482,517
▼ 8% vs 2024
€ 49,362 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 83,024
▼ 59% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 17,360
▼ 63% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 149,339 | € 202,939 | € 51,076 | € 86,248 | ▲ 69% |
| Profit after taxes | € 12,480 | € 10,484 | € -138,038 | € -97,048 | ▲ € 40,989 |
| Equity | € 68,909 | € 79,393 | € -58,645 | € -155,693 | ▼ € 97,048 |
| Total debts | € 958,415 | € 912,134 | € 1,008,225 | € 812,028 | ▼ 19% |
| Cash | € 28,254 | € 33,368 | € 1,779 | € 10,157 | ▲ € 8,378 |
| Land & buildings | € 232,722 | € 204,396 | € 196,904 | € 189,411 | ▼ 4% |
| Retained profit | € 67,909 | € 78,393 | € -59,645 | € -156,693 | ▼ € 97,048 |
| Bank debt | € 623,825 | € 561,628 | € 526,614 | € 482,517 | ▼ 8% |
| Balance sheet total | € 1,027,325 | € 991,527 | € 949,580 | € 656,335 | ▼ 31% |
Key figures of IGS 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 IGS PHARMA?
What happened at IGS PHARMA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 138,038 (▼ € 148,521 vs 2023). filed late Source: NBB ↗
- New establishment in Sint-Gillis (bij-Brussel). KBO
- Start of the company according to the CBE. KBO
- MOHAMMAD DJAVAD SALEHI became a director. NBB
- IKRAM LAAROUSSI became a director. NBB
In short
From € 12,480 profit in 2022 to € 97,048 loss in 2025.
Paid € 19,496 in corporate taxes since 2022.
Best year ever: 2022, with € 12,480 profit.
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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
Behind IGS PHARMA are MOHAMMAD DJAVAD SALEHI and IKRAM LAAROUSSI.
Directors
According to the 2025 annual accounts
MOHAMMAD DJAVAD SALEHI
Administrator-manager
since 2019
IKRAM LAAROUSSI
Administrator-manager
since 2019
Establishments
Establishment units
Physical locations of this company
Bosniëstraat 104
1060 Sint-Gillis (bij-Brussel)
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0739.742.487
- VAT number
- BE 0739.742.487
- Registered office
- Bosniëstraat 104, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- IGS PHARMA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 18 December 2019
- Peppol
- Active · Active since 15 Dec 2025
- Activities · NACE
Detailhandel in farmaceutische producten