Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2023 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Ziphius from Gent, company number BE0750500975, closed financial year 2025 with a result of € -11.8 million after tax. For that financial year Ziphius recorded a gross margin of € 2.4 million and equity of € 5.9 million. Compared with financial year 2023, the result moved from € -10.7 million to € -11.8 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 May 26, 2026.
€ 5.9 million
▼ 19% vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -11.8 million
▼ 10 % more loss than in 2023
Profit after tax over the fiscal year.
€ 733,828
▼ 86% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -10.6 million.
People and assets in 2025
41.2
▼ 1.1 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 3.7 million
▲ 9% vs 2023
€ 90,500 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.
€ 1.4 million
▼ 43% vs 2023
Of which on lease € 1.4 million.
Debts at end 2025
€ 1.9 million
▼ 74% vs 2023
€ 481,860 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 1.2 million
▼ 26% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 352,787
▼ 34% vs 2023
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | 2025 | Change 2023 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -2,207,142 | € -3,249,115 | € 1,438,368 | € 2,432,075 | ▲ 69% |
| Profit after taxes | € -3,751,415 | € -5,646,726 | € -10,687,769 | € -11,759,972 | ▼ € 1.1 million |
| Equity | € 23,522,785 | € 18,008,310 | € 7,320,540 | € 5,900,140 | ▼ 19% |
| Total debts | € 2,816,860 | € 3,189,173 | € 10,898,732 | € 3,594,022 | ▼ 67% |
| Cash | € 22,956,151 | € 6,530,432 | € 5,071,242 | € 733,828 | ▼ 86% |
| Retained profit | € -3,751,415 | € -9,398,140 | € -19,953,660 | € -10,627,396 | ▲ € 9.3 million |
| Bank debt | € 1,897,251 | € 1,680,346 | € 7,143,320 | € 1,868,299 | ▼ 74% |
| Balance sheet total | € 26,339,646 | € 21,197,483 | € 18,219,273 | € 9,494,162 | ▼ 48% |
| Employees (FTE) | 16.5 | 30.5 | 42.3 | 41.2 | ▼ 1.1 |
Key figures of Ziphius, fiscal years 2021 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 Ziphius?
What happened at Ziphius in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Margareta Nuytinck stepped down as director. NBB
- Van Hoof Biotech and Business Services BV stepped down as director. NBB
- JOB.BIO.COM BV stepped down as director. NBB
- Olem SRL stepped down as director. NBB
- Geertrui Vanhove stepped down as director. NBB
- CARDON BIO NV stepped down as director. NBB
- Heran BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 11.8 million. Source: NBB ↗
In short
From € 3.8 million loss in 2021 to € 11.8 million loss in 2025.
Paid € 2,199 in corporate taxes since 2021.
On average € 59,000 of value added per employee in 2025.
Management
The stake of RNA Pioneering, CEBELEC comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ZiphiusThe shares are held by RNA Pioneering (59%) and CEBELEC (15%). It owns 100% of Ziphius LLC itself.
Directors
According to the 2025 annual accounts
Margareta Nuytinck
Director
Also active at: LABORATORIUM M. NUYTINCK, QUOD BONUM, FELIX FAUSTUMQUE SIT, LABO VOOR KLINISCHE BIOLOGIE, POST VERBA VERBERA, ANABIOTEC, MENTANA DX, ERGO TUA RURA MANEBUNT
since 2024 · until 2030
Van Hoof Biotech and Business Services BV
Director · represented by Johan Van Hoof
since 2023 · until 2027
Director · represented by Johan Bury
since 2024 · until 2027
Director · represented by Olivier Lemaire
since 2021 · until 2027
Geertrui Vanhove
Director
since 2024 · until 2027
Managing director · represented by Christiaan Cardon
since 2024 · until 2027
Shareholders
59%
15%
Participations
Ziphius LLC
100%
Establishments
Establishment units
Physical locations of this company
Rijvisschestraat 120
9052 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →RNA Pioneering same network
€ -111,461 gross margin · 2025
DOING WELL BY DOING GOOD
€ 27,550 gross margin · 2025
CARDON BIO same network
€ 25,626 gross margin · 2025
CELL-CELL BIO
€ 777,487 gross margin · 2025
BORDEAUX I
€ -3,685 gross margin · 2025
+1 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
- 0750.500.975
- VAT number
- BE 0750.500.975
- Registered office
- Rijvisschestraat 120, 9052 Gent
- Names & denominations
- Ziphius
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 July 2020
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Speur- en ontwikkelingswerk op biotechnologisch gebied
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