ULVACO
ActiveSummary
ULVACO has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.3m and a net result of €228,338. Equity is growing by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 75% of 1855 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▼-7
Solvency89▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 2.62 against 4.7 in 2023; short-term debt: 27.7% and cash: 24.9% of total assets), and 36.1% of the assets are financed with debt.
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Signals
Four 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
63.9%
Return on assets
11.1%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-10-2025, 82 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
82 d late
2023
90 d late
2022
101 d late
2021
110 d late
2020
139 d late
2019
132 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 109 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€1.3m▲ 10.3%
2023 · €1.2m
Total assets
€2.1m▲ 36.0%
2023 · €1.5m
Net result
€228,338▼ 12.2%
2023 · €260,087
Working capital
€924,828▼ 14.8%
2023 · €1.1m
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
Line20202021202220232024
Operating result€235,295▲ 39.9%€224,982▼ 4.4%€205,195▼ 8.8%€358,597▲ 74.8%€322,742▼ 10.0%
Net result€175,629▲ 40.5%€156,367▼ 11.0%€153,624▼ 1.8%€260,087▲ 69.3%€228,338▼ 12.2%
Equity€1.2m▲ 17.1%€959,226▼ 20.4%€933,337▼ 2.7%€1.2m▲ 27.9%€1.3m▲ 10.3%
Total assets€1.6m▲ 7.2%€1.7m▲ 7.3%€1.5m▼ 8.7%€1.5m▼ 1.8%€2.1m▲ 36.0%
Debt€368,116▼ 15.9%€728,704▲ 98.0%€608,288▼ 16.5%€320,487▼ 47.3%€743,056▲ 132%
Working capital€1.1m▲ 16.1%€889,562▼ 22.5%€826,305▼ 7.1%€1.1m▲ 31.4%€924,828▼ 14.8%
Staff (FTE)7.5▲ 7.1%7.1▼ 5.3%8.4▲ 18.3%7.4▼ 11.9%6.9▼ 6.8%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 10% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.1m
Fixed assets
€564,319 ▲ 317%
Current assets
€1.5m ▲ 8.5%
Equity and liabilities €2.1m
Equity
€1.3m ▲ 10.3%
Debt
€743,056 ▲ 132%
Debt's share of the balance-sheet total rises from 21.2% to 36.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€399,147▲
2023 · €398,459
Cash flow
€304,743▲
2023 · €299,950
Current ratio
2.62▼
2023 · 4.70
Debt to equity
0.56▲
2023 · 0.27
ROE
17.3%▼
2023 · 21.8%
ROA
11.1%▼
2023 · 17.2%
Interest coverage
50.77▼
2023 · 54.67
Debt ≤ 1 year
€570,382▲
2023 · €293,040
Debt > 1 year
€171,072▲
2023 · €23,880
Income taxes
€97,036▼
2023 · €101,079
Staff costs
€375,058▲
2023 · €360,623
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €7,500 | - | €35,000 | €1,000 | ▼ 97.1% |
| Remuneration, social security and pensions62 | - | €363,131 | €406,927 | €360,623 | €375,058 | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €79,662 | €66,623 | €58,612 | €39,862 | €76,405 | ▲ 91.7% |
| Other operating charges640/8 | - | €12,493 | €8,189 | €5,630 | €6,215 | ▲ 10.4% |
| Gross operating margin9900 | €734,498 | €667,229 | €678,923 | €764,712 | €780,421 | ▲ 2.1% |
| Operating profit (loss)9901 | €235,295 | €224,982 | €205,195 | €358,597 | €322,742 | ▼ 10.0% |
| Financial income75/76B | - | €11,858 | €17,435 | €9,859 | €10,494 | ▲ 6.4% |
| Recurring financial income75 | €15,439 | €11,858 | €17,435 | €9,859 | €10,494 | ▲ 6.4% |
| Financial charges65/66B | - | €3,874 | €3,219 | €7,289 | €7,862 | ▲ 7.9% |
| Recurring financial charges65 | €3,834 | €3,874 | €3,219 | €7,289 | €7,862 | ▲ 7.9% |
| Profit (loss) for the period before taxes9903 | €246,899 | €232,966 | €219,410 | €361,167 | €325,375 | ▼ 9.9% |
| Income taxes67/77 | €71,270 | €76,599 | €65,786 | €101,079 | €97,036 | ▼ 4.0% |
| Profit (loss) for the period9904 | €175,629 | €156,367 | €153,624 | €260,087 | €228,338 | ▼ 12.2% |
| Transfer from tax-exempt reserves789 | - | €43,750 | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | €7,500 | - | €35,000 | - | - |
| Profit (loss) for the period to be appropriated9905 | €168,629 | €192,617 | €153,624 | €225,087 | €228,338 | ▲ 1.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.7m | €1.5m | €1.5m | €2.1m | ▲ 36.0% |
| Fixed assets21/28 | €166,654 | €202,783 | €177,293 | €135,232 | €564,319 | ▲ 317% |
| Tangible fixed assets22/27 | €114,843 | €150,275 | €124,785 | €86,593 | €354,331 | ▲ 309% |
| Land and buildings22 | - | - | €700 | €700 | €700 | = |
| Plant, machinery and equipment23 | - | €1,790 | €14,261 | €8,058 | €16,386 | ▲ 103% |
| Furniture and vehicles24 | - | €147,415 | €108,892 | €77,042 | €336,591 | ▲ 337% |
| Other tangible fixed assets26 | - | €1,070 | €932 | €793 | €655 | ▼ 17.5% |
| Financial fixed assets28 | €51,811 | €52,508 | €52,508 | €48,639 | €209,988 | ▲ 332% |
| Current assets29/58 | €1.4m | €1.5m | €1.4m | €1.4m | €1.5m | ▲ 8.5% |
| Amounts receivable after more than one year29 | - | €50,096 | €51,098 | €22,862 | €892 | ▼ 96.1% |
| Other amounts receivable291 | - | €50,096 | €51,098 | €22,862 | €892 | ▼ 96.1% |
| Amounts receivable within one year40/41 | €391,515 | €833,492 | €658,694 | €606,721 | €702,622 | ▲ 15.8% |
| Trade receivables40 | - | €274,421 | €216,722 | €199,168 | €372,575 | ▲ 87.1% |
| Other amounts receivable41 | - | €559,071 | €441,972 | €407,553 | €330,047 | ▼ 19.0% |
| Current investments50/53 | - | - | - | - | €209,000 | - |
| Cash at bank and in hand54/58 | €910,398 | €539,488 | €616,078 | €716,027 | €513,045 | ▼ 28.3% |
| Deferred charges and accrued income490/1 | - | €62,071 | €38,463 | €33,068 | €69,650 | ▲ 111% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.7m | €1.5m | €1.5m | €2.1m | ▲ 36.0% |
| Equity10/15 | €1.2m | €959,226 | €933,337 | €1.2m | €1.3m | ▲ 10.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1.1m | €872,926 | €847,038 | €1.1m | €1.2m | ▲ 11.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Other1319 | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | €59,500 | €59,500 | €94,500 | €94,500 | = |
| Distributable reserves133 | - | €811,566 | €785,678 | €1.0m | €1.1m | ▲ 12.2% |
| Profit (loss) carried forward14 | €67,699 | €67,699 | €67,699 | €67,699 | €67,699 | = |
| Amounts payable17/49 | €368,116 | €728,704 | €608,288 | €320,487 | €743,056 | ▲ 132% |
| Amounts payable after more than one year17 | €110,531 | €126,848 | €64,295 | €23,880 | €171,072 | ▲ 616% |
| Financial debts170/4 | - | €126,848 | €64,295 | €23,880 | €171,072 | ▲ 616% |
| Amounts payable within one year42/48 | €257,585 | €595,585 | €538,028 | €293,040 | €570,382 | ▲ 94.6% |
| Current portion of amounts payable after more than one year42 | - | €63,839 | €62,554 | €40,415 | €64,252 | ▲ 59.0% |
| Financial debts43 | - | €8,398 | €8,204 | €8,442 | - | - |
| Credit institutions430/8 | - | €8,398 | €8,204 | €8,442 | - | - |
| Trade debts44 | €88,363 | €146,060 | €180,404 | €162,087 | €309,973 | ▲ 91.2% |
| Suppliers440/4 | - | €146,060 | €180,404 | €162,087 | €309,973 | ▲ 91.2% |
| Taxes, remuneration and social security45 | - | €85,588 | €92,311 | €65,335 | €94,695 | ▲ 44.9% |
| Taxes450/3 | - | €51,221 | €53,927 | €32,126 | €52,264 | ▲ 62.7% |
| Remuneration and social security454/9 | - | €34,367 | €38,384 | €33,209 | €42,432 | ▲ 27.8% |
| Other amounts payable47/48 | - | €291,700 | €194,555 | €16,762 | €101,461 | ▲ 505% |
| Accrued charges and deferred income492/3 | - | €6,271 | €5,966 | €3,566 | €1,602 | ▼ 55.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €175,629 | €156,367 | €153,624 | €260,087 | €228,338 | ▼ 12.2% |
| + Depreciation and write-downs630 | €79,662 | €66,623 | €58,612 | €39,862 | €76,405 | ▲ 91.7% |
| Operating cash flow (approximation) | €255,291 | €222,990 | €212,236 | €299,950 | €304,743 | ▲ 1.6% |
| Investment in fixed assets (approximation) | - | -€102,753 | -€33,122 | €2,198 | -€505,491 | ▼ 23,099% |
| Change in cash | - | -€370,910 | €76,590 | €99,950 | -€202,982 | ▼ 303% |
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
2025
21-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 82 days late
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 90 days late
2023
31-12
Financial
Highest result since 2018net €260,087 ▲69.3%
Operating result €358,597, net result €260,087, both a record.
31-12
Financial
Equity above €1mEq €1.2m ▲27.9%
6 profitable years in a row build equity to €1.2m.
09-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 101 days late
2022
18-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 110 days late
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 139 days late
2020
10-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 132 days late
2019
31-12
Financial
Weakest financial yearnet €125,017 ▼15.7%
Net result drops to €125,017, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €1mEq €1.0m ▲13.8%
2 profitable years in a row build equity to €1.0m.
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 71 days late
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 77 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 57 days late
2016
27-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Aalst · 1 establishment unit since 1995
Ground area
1,746 m²
Building footprint
206 m²
Volume, LiDAR
1,009 m³
Parcel 41029B0090/00F000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ULVACO
since 19952.070.397.197
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41029B0090/00F000 | Flanders | 1,746 m² | 1 · 206 m² | 7.9 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 2024 · 3 entries · 938 EUR awarded · 938 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 248 EUR | 248 EUR |
| 2023 | 1 | 315 EUR | 315 EUR |
| 2022 | 1 | 375 EUR | 375 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteAalst2.070.397.197
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,199. 3,701 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
Founded26-01-1995
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454293461
Also
9925:BE0454293461
Registered
29-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.