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BULMAC

Active
Public limited companyfounded 198838 yrs activeWelvaartstraat 7, 8630 Veurne, BelgiumKBO/BCE: BE 0434.809.527
Summary

The computed 12-month bankruptcy probability of BULMAC is 2.5% (moderate). The 2025 annual accounts show negative equity (-€244,333) and a net result of -€43,726. Equity remains stable across the filed fiscal years (±0.8% per year). Its solvency ranks better than 5% of 847 sector peers (fiscal year 2025). The company has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
BULMACActiveChecked score 50/100
Risk analysis ReportCompare

Overview

Activity
Logistics services
NACE 52250Freight transport by road NACE 49410NACE 52290
1 site
Size
€40,309total assets 2025
Staff
1 FTE
Equity
-€244,333
Loss
-€43,726
Financial health
50 Fair Checked score 2025
Bankruptcy chance 12 m
2.5%
Structure
Parent
C & C OPERATIONS · 100%
Auditor: VRC BEDRIJFSREVISORENAccounts 9 d early1 of 9 deeds read
Why 50- Negative equity -€244,333- Loss of €43,726, the second in a row (FY 2025)- Sector Warehousing and support activities for transportation (NACE 52)+ Founded in 1988Show the evidence

Checked score

Score 2025
50 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 17% of its sector peers (NACE 52, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 0=
equity -606.1% of total assets
Liquidity 48-41
short-term debt 85.9% · cash 36.1%
Profitability 0=
return on assets -108.5%
Bankruptcy probability, 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.9% (2,293 companies)
Last 24 months 11-2024: 2.3% 12-2024: 2.3%● 0.0% vs 11-2024 01-2025: 2.2%▼ -4.1% vs 12-2024 02-2025: 2.2%● 0.0% vs 01-2025 03-2025: 2.1%▼ -1.4% vs 02-2025 04-2025: 2.1%▼ -4.0% vs 03-2025 05-2025: 2.1%● 0.0% vs 04-2025 06-2025: 2.0%▼ -1.3% vs 05-2025lowest value 07-2025: 2.0%▲ +0.6% vs 06-2025 08-2025: 2.5%▲ +21.7% vs 07-2025 09-2025: 2.5%● 0.0% vs 08-2025 10-2025: 2.5%● 0.0% vs 09-2025 11-2025: 2.5%● 0.0% vs 10-2025 12-2025: 2.5%● 0.0% vs 11-2025 01-2026: 2.5%● 0.0% vs 12-2025 02-2026: 2.5%● 0.0% vs 01-2026 03-2026: 2.4%▼ -1.4% vs 02-2026 04-2026: 2.4%● 0.0% vs 03-2026 05-2026: 2.4%● 0.0% vs 04-2026 06-2026: 2.4%▼ -1.2% vs 05-2026 07-2026: 2.5%▲ +5.5% vs 06-2026highest value 08-2026: 2.5%▼ -1.8% vs 07-2026 09-2026: 2.5%● 0.0% vs 08-2026 10-2026: 2.5%● 0.0% vs 09-2026
  • Negative equity -€244,333 raises the probability
  • Loss of €43,726, the second in a row (FY 2025) raises the probability
  • Sector Warehousing and support activities for transportation (NACE 52) raises the probability
  • Founded in 1988 lowers the probability for this profile
No credit on open account
Liquidity tight (current ratio 1.09 against 3.06 in 2024; short-term debt: 85.9% and cash: 36.1% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 52, micro). Better than this share of them on solvency 4%, liquidity 44%, profitability 5%, growth against the median 16%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Negative equity -€244,333
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €43,726, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Sector Warehousing and support activities for transportation (NACE 52)
In the bankruptcy model this factor raises the probability.
KBO
lowers risk · Founded in 1988
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€244,333
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
9 d early
2024
7 d early
2023
16 d early
2022
17 d early
2021
25 d early
2020
23 d early
2019
23 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 16 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
06-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Reappointment: VRC Bedrijfsrevisoren BV (statutory auditor)Permanent representatives: Bart Roobrouck, Steven…
  2. Annual accounts filedfiscal year 2025 · full…
  3. Annual accounts filedfiscal year 2024 · abbreviated…

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€244,333 View
  • Risk: 4 loss-making years in a rowloss fiscal year 2025 -€43,726 View
  • Caution: Among the weakest 5% on solvencysector median 38.0% · 847 companies -606.1% View
  • Positive: Always filed on timeaccounts within the deadline every year 8 years View
  • Controlled by C & C OPERATIONS 100% View
  • Caution: Equity fell in 2025from -€194,207 to -€244,333 ▼ 25.8% View

By topic

Financials

Fiscal year
2025
Total assets
€40,309
Loss
-€43,726
Solvency
-606.1%
Total assets▼ 48.1%
Net result
20182025
Go to Financials

Timeline

Events
14
Since
2017
Next accounts
by 31-07-2027
  1. 29-09-2026Reappointment: VRC Bedrijfsrevisoren BV (statutory auditor)
  2. 22-07-2026Annual accounts filed
  3. 24-07-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Logistics servicesNACE 52250
Founded
12-07-1988
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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