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 4 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2023, 2024.
Financials
Financial year 2025
Cellistic from Mont-Saint-Guibert, company number BE0740785238, closed financial year 2025 with a result of € -13.5 million after tax. For that financial year Cellistic recorded revenue of € 8.6 million and equity of € -44.3 million. Compared with financial year 2024, the result moved from € -13.6 million to € -13.5 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 June 16, 2026.
€ -44.3 million
▼ € 13.5 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -13.5 million
▲ 1 % less loss than in 2024
Profit after tax over the fiscal year.
€ 831,685
▲ 149% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -50.6 million.
People and assets in 2025
61.2
▼ 5.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 7.3 million
▼ 6% vs 2024
€ 118,900 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.
€ 3.4 million
▲ € 3.1 million vs 2024
Of which on lease € 3.2 million.
Debts at end 2025
€ 2.3 million
€ 479,712 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 5.4 million
▲ 120% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 152 days on average.
€ 1.5 million
▲ 26% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 4,020,104 | € 8,648,869 | ▲ 115% |
| Gross margin | € -1,141,450 | € -922,205 | - | - | |
| Profit after taxes | € -6,639,115 | € -11,557,082 | € -13,570,568 | € -13,486,053 | ▲ € 84,515 |
| Equity | € -11,349,932 | € -17,245,223 | € -30,815,791 | € -44,301,844 | ▼ € 13.5 million |
| Total debts | € 20,389,774 | € 45,025,542 | € 70,075,645 | € 85,746,703 | ▲ 22% |
| Cash | € 158,946 | € 878,725 | € 334,124 | € 831,685 | ▲ 149% |
| Retained profit | € -12,019,265 | € -23,576,348 | € -37,146,916 | € -50,632,969 | ▼ € 13.5 million |
| Bank debt | € 0 | € 0 | € 0 | € 2,334,859 | |
| Balance sheet total | € 9,039,841 | € 27,780,319 | € 39,259,854 | € 41,649,859 | ▲ 6% |
| Employees (FTE) | 24.2 | 61.4 | 66.7 | 61.2 | ▼ 5.5 |
Key figures of Cellistic, 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 Cellistic?
What happened at Cellistic in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 13.5 million. Source: NBB ↗
- Jason Conner became a director. NBB
- New establishment in Mont-Saint-Guibert. KBO
- New establishment in Mont-Saint-Guibert. KBO
- Start of the company according to the CBE. KBO
In short
From € 6.6 million loss in 2022 to € 13.5 million loss in 2025.
Paid € 2,564 in corporate taxes since 2022.
Pays suppliers within 152 days on average.
A new publication or filing at Cellistic? 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 Ncardia Holding comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CellisticBehind Cellistic is Jason Conner. The shares are held by Ncardia Holding (0%).
Directors
According to the 2025 annual accounts
since 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Edouard Belin 2
1435 Mont-Saint-Guibert
Rue Edouard Belin 12
1435 Mont-Saint-Guibert
Active since 1 October 2022
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.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
CLOUDFLARESPECTRUM Cloudflare, Inc., US
Domain
Domain
cellistic.com
Registered
2017-05-21
Registrar
Hosting Concepts B.V. d/b/a Registrar.eu
Expires
2026-05-21
Website info
Features
Security
Network
Details
- Company number
- 0740.785.238
- VAT number
- BE 0740.785.238
- Registered office
- Rue Edouard Belin 2, 1435 Mont-Saint-Guibert
- Names & denominations
- Cellistic
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 January 2020
- Peppol
- Active · Active since 27 Nov 2025
- Contact
- cellistic.com
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied
Vervaardiging van geneesmiddelen
Vervaardiging van farmaceutische grondstoffen