BULTECH
ActiveSummary
BULTECH has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.94M and a net result of €454k. Equity is growing by ~30.5% per year across the filed fiscal years. Its solvency ranks better than 56% of 1316 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▲+3
Solvency77▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 4.89 against 3.59 in 2024; short-term debt: 15.5% and cash: 7% of total assets), and 48.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
51.5%
Return on assets
12.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
25 d late
2024
28 d late
2023
13 d early
2022
31 d late
2021
25 d early
2020
1 d early
2019
28 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€1.94M▲ 30.5%
2024 · €1.49M
Total assets
€3.77M▲ 16.5%
2024 · €3.23M
Net result
€454k▲ 46.6%
2024 · €310k
Working capital
€2.27M▲ 27.6%
2024 · €1.78M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€454k▲ 117%€681k▲ 50.1%€683k▲ 0.4%€399k▼ 41.6%€650k▲ 63.0%
Net result€362k▲ 56.4%€503k▲ 38.9%€505k▲ 0.3%€310k▼ 38.6%€454k▲ 46.6%
Equity€671k▲ 117%€1.17M▲ 75.0%€1.18M▲ 0.4%€1.49M▲ 26.3%€1.94M▲ 30.5%
Total assets€2.59M▲ 35.2%€2.91M▲ 12.3%€2.93M▲ 0.8%€3.23M▲ 10.3%€3.77M▲ 16.5%
Debt€1.92M▲ 19.5%€1.73M▼ 9.6%€1.75M▲ 1.0%€1.74M▼ 0.4%€1.83M▲ 4.7%
Working capital€786k▲ 26.9%€1.15M▲ 45.8%€1.22M▲ 6.7%€1.78M▲ 45.4%€2.27M▲ 27.6%
Staff (FTE)2▲ 100%5▲ 150%5=5=4.5▼ 10.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 63% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.77M
Fixed assets
€915k ▲ 19.4%
Current assets
€2.85M ▲ 15.7%
Equity and liabilities €3.77M
Equity
€1.94M ▲ 30.5%
Debt
€1.83M ▲ 4.7%
Debt's share of the balance-sheet total falls from 54.0% to 48.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€907k▲
2024 · €618k
Cash flow
€711k▲
2024 · €529k
Current ratio
4.89▲
2024 · 3.59
Quick ratio
1.05▲
2024 · 0.77
Debt to equity
0.94▼
2024 · 1.17
ROE
23.4%▲
2024 · 20.8%
ROA
12.1%▲
2024 · 9.6%
Interest coverage
15.26▼
2024 · 38.18
Debt ≤ 1 year
€584k▼
2024 · €688k
Debt > 1 year
€1.20M▲
2024 · €1.05M
Income taxes
€140k▲
2024 · €96k
Staff costs
€381k▲
2024 · €379k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €113k | €285k | €327k | €379k | €381k | ▲ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €184k | €229k | €231k | €219k | €257k | ▲ 16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-222 | €-5k | €74k | €-2k | €-19k | ▼ 664% |
| Other operating charges640/8 | €7k | €15k | €17k | €19k | €23k | ▲ 21.1% |
| Gross operating margin9900 | €758k | €1.20M | €1.33M | €1.01M | €1.29M | ▲ 27.5% |
| Operating profit (loss)9901 | €454k | €681k | €683k | €399k | €650k | ▲ 63.0% |
| Financial income75/76B | €13k | €1k | €228 | €24k | €4k | ▼ 83.3% |
| Recurring financial income75 | €3k | €1k | €228 | €2k | €4k | ▲ 154% |
| Non-recurring financial income76B | €11k | - | - | €22k | - | - |
| Financial charges65/66B | €7k | €9k | €11k | €16k | €59k | ▲ 267% |
| Recurring financial charges65 | €7k | €9k | €11k | €16k | €59k | ▲ 267% |
| Profit (loss) for the period before taxes9903 | €459k | €673k | €673k | €406k | €595k | ▲ 46.4% |
| Income taxes67/77 | €97k | €169k | €168k | €96k | €140k | ▲ 45.7% |
| Profit (loss) for the period9904 | €362k | €503k | €505k | €310k | €454k | ▲ 46.6% |
| Profit (loss) for the period to be appropriated9905 | €362k | €503k | €505k | €310k | €454k | ▲ 46.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.59M | €2.91M | €2.93M | €3.23M | €3.77M | ▲ 16.5% |
| Fixed assets21/28 | €986k | €873k | €650k | €766k | €915k | ▲ 19.4% |
| Tangible fixed assets22/27 | €986k | €873k | €650k | €766k | €914k | ▲ 19.4% |
| Plant, machinery and equipment23 | €416k | €338k | €271k | €212k | €174k | ▼ 17.9% |
| Furniture and vehicles24 | €507k | €425k | €289k | €457k | €324k | ▼ 29.2% |
| Leasing and similar rights25 | - | €58k | €46k | €35k | €334k | ▲ 865% |
| Other tangible fixed assets26 | €63k | €51k | €43k | €62k | €83k | ▲ 34.5% |
| Financial fixed assets28 | - | €135 | €135 | €135 | €270 | ▲ 100% |
| Current assets29/58 | €1.60M | €2.04M | €2.28M | €2.47M | €2.85M | ▲ 15.7% |
| Stocks and contracts in progress3 | €945k | €1.27M | €1.82M | €1.94M | €2.24M | ▲ 15.5% |
| Stocks30/36 | €945k | €1.27M | €1.82M | €1.94M | €2.24M | ▲ 15.5% |
| Amounts receivable within one year40/41 | €526k | €441k | €335k | €232k | €331k | ▲ 43.1% |
| Trade receivables40 | €463k | €441k | €273k | €124k | €301k | ▲ 143% |
| Other amounts receivable41 | €64k | - | €62k | €108k | €31k | ▼ 71.7% |
| Cash at bank and in hand54/58 | €116k | €303k | €127k | €285k | €263k | ▼ 7.8% |
| Deferred charges and accrued income490/1 | €16k | €21k | - | €12k | €21k | ▲ 77.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.59M | €2.91M | €2.93M | €3.23M | €3.77M | ▲ 16.5% |
| Equity10/15 | €671k | €1.17M | €1.18M | €1.49M | €1.94M | ▲ 30.5% |
| Contributions10/11 | €52k | €52k | €50k | €50k | €50k | = |
| Reserves13 | €619k | €1.12M | €1.13M | €1.44M | €1.89M | ▲ 31.5% |
| Distributable reserves133 | €619k | €1.12M | €1.13M | €1.44M | €1.89M | ▲ 31.5% |
| Amounts payable17/49 | €1.92M | €1.73M | €1.75M | €1.74M | €1.83M | ▲ 4.7% |
| Amounts payable after more than one year17 | €1.09M | €841k | €690k | €1.05M | €1.20M | ▲ 14.0% |
| Financial debts170/4 | €1.09M | €841k | €690k | €1.05M | €1.20M | ▲ 14.0% |
| Amounts payable within one year42/48 | €817k | €889k | €1.06M | €688k | €584k | ▼ 15.1% |
| Current portion of amounts payable after more than one year42 | €145k | €158k | €150k | €210k | €242k | ▲ 15.4% |
| Financial debts43 | €100k | €70k | €70k | €70k | €70k | = |
| Credit institutions430/8 | €100k | €70k | €70k | €70k | €70k | = |
| Trade debts44 | €360k | €92k | €57k | €219k | €134k | ▼ 39.1% |
| Suppliers440/4 | €360k | €92k | €57k | €219k | €134k | ▼ 39.1% |
| Advances received on contracts in progress46 | - | €261k | - | - | - | - |
| Taxes, remuneration and social security45 | €53k | €178k | €125k | €80k | €89k | ▲ 12.0% |
| Taxes450/3 | €39k | €138k | €78k | €10k | €47k | ▲ 358% |
| Remuneration and social security454/9 | €13k | €40k | €46k | €70k | €43k | ▼ 38.7% |
| Other amounts payable47/48 | €159k | €129k | €655k | €110k | €49k | ▼ 55.0% |
| Accrued charges and deferred income492/3 | €10k | €4k | €5k | €2k | €41k | ▲ 1,926% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €362k | €503k | €505k | €310k | €454k | ▲ 46.6% |
| + Depreciation and write-downs630 | €184k | €229k | €231k | €219k | €257k | ▲ 16.9% |
| Operating cash flow (approximation) | €547k | €732k | €736k | €529k | €711k | ▲ 34.3% |
| Investment in fixed assets (approximation) | - | €-116k | €-8k | €-336k | €-405k | ▼ 20.7% |
| Change in cash | - | €186k | €-176k | €159k | €-22k | ▼ 114% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €505k ▲0.3%
Operating result €683k, net result €505k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Equity above €1MEq €1.17M ▲75%
5 profitable years in a row build equity to €1.17M.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500kEq €671k ▲117%
4 profitable years in a row build equity to €671k.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €200kEq €309k ▲300%
3 profitable years in a row build equity to €309k.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zele · 1 establishment unit since 2017
Ground area
2,319 m²
Building footprint
1,464 m²
Volume, LiDAR
9,285 m³
Parcel 42403D0864/00W000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
BULTECH BVBA
since 20172.268.501.584
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42403D0864/00W000 | Flanders | 2,319 m² | 1 · 1,464 m² | 10.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,873 EUR awarded · 6,484 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 389 EUR | 0 EUR |
| 2023 | 2 | 6,305 EUR | 6,305 EUR |
| 2022 | 1 | 179 EUR | 179 EUR |
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Of 3,718 companies in sector 33120 we hold annual accounts for 1,345. 460 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
33120Repair and maintenance of machinery
43990Other specialised construction activities
33140Repair and maintenance of electrical equipment
33190Repair, maintenance and installation of machinery and equipment
95319Other maintenance and repair of motor vehicles
Scores and ratios are computed by Checked and are not a credit decision.