Active BE 0865.506.947Private limited company

BULTEEL EN CO

Lindestraat 49 ·9700 Oudenaarde, Belgium· 22 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

BULTEEL EN CO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €753k and a net result of €4k. Equity is shrinking by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 70% of 7865 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Key figures

Equity	€753k
Net result	€4k
Better than sector	70%
Active	22 yrs

Financial profile 4 of 5 axes measured · computed by Checked

52 / 100

Mixed profile: strong on stability, weaker on profitability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 3

Solvency 75

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 2004, 22 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview21 NBB filings

Annual accounts filed on 07-07-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~2.8%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	73.2%	51.3%	better than 70% of 7865 sector peers
Net result	€4k	€33k	better than 25% of 7869 sector peers
Equity	€753k	€132k	better than 86% of 7871 sector peers
Gross operating margin	€103k	€63k	better than 67% of 7858 sector peers
Total assets	€1.03M	€338k	better than 78% of 7868 sector peers

Net profit

€4k

+68.4% 20-25

Total assets

€1.03M

-1.4% 20-25

Equity

€753k

+0.5% 20-25

Income taxes

€0

- 20-25

Debt

€276k

-6.2% 20-25

Debt ≤ 1y

€270k

-6.6% 20-25

Debt > 1y

€3k

-70.6% 20-25

Solvency

73.2%

+1.9% 20-25

ROE

0.5%

+67.5% 20-25

ROA

0.4%

+70.7% 20-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€4k	€2k	€-34k	€-34k	€-25k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	-	-	-	-
Income taxes	-	€0	€219	€209	€156
Dividends	-	-	-	-	-
Total assets	€1.03M	€1.04M	€1.05M	€1.10M	€1.17M
Equity	€753k	€749k	€747k	€781k	€815k
Debt	€276k	€294k	€304k	€322k	€358k
of which ≤ 1y	€270k	€289k	€296k	€307k	€328k
of which > 1y	-	-	€3k	€11k	€26k
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	73.2%	71.8%	71.1%	70.8%	69.5%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	0.4%	0.2%	-3.3%	-3.1%	-2.1%
ROE	0.5%	0.3%	-4.6%	-4.3%	-3.0%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €796k · 77.4% Current assets €233k · 22.6%

Equity & liabilities

Equity €753k · 73.2% Debt €276k · 26.8%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.03M	€1.04M	€1.05M	€1.10M	€1.17M
Fixed assets	21/28	€796k	€807k	€873k	€908k	€922k
Tangible fixed assets	22/27	€794k	€806k	€872k	€907k	€920k
Financial fixed assets	28	€1k	€1k	€1k	€1k	€1k
Current assets	29/58	€233k	€236k	€178k	€195k	€251k
Amounts receivable within one year	40/41	€97k	€70k	€125k	€105k	€115k
Investments	50/53	€31k	€31k	€31k	€61k	€60k
Cash & bank	54/58	€100k	€131k	€18k	€25k	€57k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.03M	€1.04M	€1.05M	€1.10M	€1.17M
Equity	10/15	€753k	€749k	€747k	€781k	€815k
Contributions / capital	10/11	€160k	€160k	€160k	€160k	€160k
Reserves	13	€593k	€590k	€587k	€620k	€620k
Accumulated profits (losses)	14	-	-	-	€2k	€35k
Amounts payable	17/49	€276k	€294k	€304k	€322k	€358k
Amounts payable after one year	17	-	-	€3k	€11k	€26k
Amounts payable within one year	42/48	€270k	€289k	€296k	€307k	€328k
Trade debts payable within one year	44	€12k	€3k	€7k	€12k	€15k
Income statement
Gross operating margin	9900	€103k	€96k	€68k	€62k	€77k
Operating result	9901	€6k	€5k	€-31k	€-30k	€-18k
Financial income	75	€399	€1k	€388	€910	€340
Financial charges	65	€3k	€3k	€4k	€4k	€7k
Result before taxes	9903	€4k	€2k	€-34k	€-34k	€-25k
Income taxes	67/77	-	€0	€219	€209	€156
Net result for the period	9904	€4k	€2k	€-34k	€-34k	€-25k
Result to be appropriated	9905	€4k	€2k	€-34k	€-34k	€-25k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	27-05-2004
Status	Active
Postal code	9700

Establishment units 1 location

Bulteel en Co bvba

Lindestraat 49, 9700 OudenaardeNACE 7415101

since 20052.146.682.551

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
45508B0072/00T000	Flanders	1.1 ha	1 · 9 m²	4.6 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 10 events

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

07-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

03-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Back to profitnet €2k

Net result €2k after 3 loss-making years.

22-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 83 days late

2023

31-12

Financial Weakest financial yearnet €-34k

Net result drops to €-34k, the lowest in the series; recovery starts the following year.

13-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 44 days late

2022

27-09

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 58 days late

2021

27-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 58 days late

2020

30-09

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 61 days late

2019

20-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 20 days late

2018

28-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

04-07

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 4 acts read

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.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies6421074151Activities of head offices70100Renting and leasing of cars and light motor vehicles77110

Names & trade names

Legal nameNL

BULTEEL EN CO

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