Van den Bulcke
ActiveVan den Bulcke has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €122k and a net result of €6k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 22% of 2154 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability52▲+12
Solvency38▲+4
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.37 against 0.6 in 2024; short-term debt: 55% of total assets), and 87.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
12.6%
Return on assets
0.6%
Age of the figures
9 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2154 sector peers (2025).
NBB · sector comparisonPosition among 2154 sector peers
Solvency
better than 22%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €122k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
27 d late
2023
23 d late
2022
32 d late
2021
31 d late
2020
8 d early
2019
25 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€122k▲ 5.1%
2024 · €116k
2018: €119k
2019: €123k
2020: €121k
2021: €118k
2022: €111k
2023: €105k
2024: €116k
2018 → 2025
Total assets
€963k▼ 25.9%
2024 · €1.30M
2018: €1.39M
2019: €1.26M
2020: €1.30M
2021: €1.21M
2022: €1.55M
2023: €1.33M
2024: €1.30M
2018 → 2025
Net result
€6k▼ 45.5%
2024 · €11k
2018: €4k
2019: €3k
2020: €-1k
2021: €-3k
2022: €-7k
2023: €-6k
2024: €11k
2018 → 2025
Working capital
€-333k▼ 0.5%
2024 · €-332k
2018: €-275k
2019: €-303k
2020: €-289k
2021: €-306k
2022: €-335k
2023: €-346k
2024: €-332k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€118k-€111k▼ 6.2%€105k▼ 5.3%€116k▲ 10.3%€122k▲ 5.1%
Operating result€19k-€15k▼ 23.2%€48k▲ 223%€63k▲ 32.4%€32k▼ 50.1%
Net result€-3k-€-7k▼ 136%€-6k▲ 20.0%€11k€6k▼ 45.5%
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 2025; 2025 is 50% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €963k
Fixed assets
€767k▼ 3.5%
Current assets
€196k▼ 61.1%
Equity and liabilities €963k
Equity
€122k▲ 5.1%
Debt
€841k▼ 28.9%
The debt ratio falls from 91.1% to 87.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€100k▼
2024 · €129k
Cash flow
€74k▼
2024 · €76k
Solvency
12.6%▲
2024 · 8.9%
Current ratio
0.37▼
2024 · 0.60
Quick ratio
0.37▼
2024 · 0.56
Debt / equity
6.92▼
2024 · 10.23
ROE
4.8%▼
2024 · 9.3%
ROA
0.6%▼
2024 · 0.8%
Interest coverage
3.93▲
2024 · 2.44
Debt
€841k▼
2024 · €1.18M
Debt ≤ 1 year
€529k▼
2024 · €836k
Debt > 1 year
€312k▼
2024 · €348k
Income taxes
€242
Staff costs
€758k▲
2024 · €756k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.30M€963k▼
Fixed assets21/28€795k€767k▼
Tangible fixed assets22/27€794k€766k▼
Land and buildings22€680k€665k▼
Plant, machinery and equipment23€10k€6k▼
Furniture and vehicles24€14k€9k▼
Leasing and similar rights25€90k€86k▼
Financial fixed assets28€1k€1k=
Current assets29/58€505k€196k▼
Stocks and contracts in progress3€40k-
Contracts in progress37€40k-
Amounts receivable within one year40/41€465k€196k▼
Trade receivables40€460k€196k▼
Other amounts receivable41€5k-
Equity and liabilities
Total equity and liabilities10/49€1.30M€963k▼
Equity10/15€116k€122k▲
Contributions10/11€100k€100k=
Reserves13€16k€22k▲
Non-distributable reserves130/1€6k€10k▲
Reserves not available under the articles1311€6k€10k▲
Distributable reserves133€10k€12k▲
Amounts payable17/49€1.18M€841k▼
Amounts payable after more than one year17€348k€312k▼
Financial debts170/4€348k€312k▼
Amounts payable within one year42/48€836k€529k▼
Current portion of amounts payable after more than one year42€62k€70k▲
Financial debts43€36k€28k▼
Credit institutions430/8€36k€28k▼
Trade debts44€394k€160k▼
Suppliers440/4€394k€160k▼
Taxes, remuneration and social security45€129k€101k▼
Taxes450/3€22k€30k▲
Remuneration and social security454/9€107k€71k▼
Other amounts payable47/48€215k€170k▼
Income statement
Code20242025
Remuneration, social security and pensions62€756k€758k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€66k€68k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€84k
Other operating charges640/8€16k€14k▼
Non-recurring operating charges66A€11k-
Gross operating margin9900€912k€955k▲
Operating profit (loss)9901€63k€32k▼
Financial income75/76B€233-
Recurring financial income75€233-
Financial charges65/66B€53k€25k▼
Recurring financial charges65€53k€25k▼
Profit (loss) for the period before taxes9903€11k€6k▼
Income taxes67/77-€242
Profit (loss) for the period9904€11k€6k▼
Profit (loss) for the period to be appropriated9905€11k€6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€5k€6k▲
Profit (loss) brought forward from the previous period14P€-6k-
Transfer to equity691/2€5k€6k▲
To the legal reserve6920-€4k
To other reserves6921€5k€1k▼
Social balance
Average headcount (FTE)908714.113.1▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
31-12
Financial
Back to profitnet €11k
Net result €11k after 4 loss-making years.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 23 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kruisem · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Industriezone(KRU) 139770 KruisemGround area
1,265 m²
Building footprint
388 m²
Volume, LiDAR
1,940 m³
Parcel 45017C0761/00C000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Industriezone(KRU) 13, 9770 Kruisem
since 20132.217.822.252
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45017C0761/00C000 | Flanders | 1,265 m² | 1 · 387 m² | 6.3 m · 2 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Dual-learning approval
2 live approvalsBinnen- en buitenschrijnwerk duaal (so)
Schrijnwerker houtbouw duaal (so)
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Of 29,808 companies in sector 41001 we hold annual accounts for 16,038. 12,935 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded14-01-2013
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.