VANHULLE
ActiveVANHULLE has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €788k and a net result of €-5k. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 92% of 395 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
78
/ 100
Excellent▲ +25 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency100▲+26
Growth52=
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 5.01 against 1.35 in 2024), and 12.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Sector 42
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
87.5%
Return on assets
-0.5%
Age of the figures
11 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 13-07-2026, 74 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
74 d late
2024
153 d late
2023
484 d late
2022
47 d early
2021
13 d early
2020
37 d early
2019
43 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€788k▼ 0.6%
2024 · €793k
2018: €698k
2019: €726k
2020: €765k
2021: €857k
2022: €932k
2023: €973k
2024: €793k
2018 → 2025
Total assets
€901k▼ 50.1%
2024 · €1.81M
2018: €3.69M
2019: €3.69M
2020: €3.05M
2021: €3.28M
2022: €3.09M
2023: €2.50M
2024: €1.81M
2018 → 2025
Net result
€-5k▲ 56.9%
2024 · €-11k
2018: €14k
2019: €30k
2020: €39k
2021: €93k
2022: €76k
2023: €41k
2024: €-11k
2018 → 2025
Working capital
€407k▲ 15.8%
2024 · €352k
2018: €-78k
2019: €-78k
2020: €-72k
2021: €-167k
2022: €67k
2023: €270k
2024: €352k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€857k-€932k▲ 8.7%€973k▲ 4.4%€793k▼ 18.5%€788k▼ 0.6%
Operating result€177k-€148k▼ 16.4%€139k▼ 6.4%€53k▼ 61.6%€46k▼ 13.9%
Net result€93k-€76k▼ 18.5%€41k▼ 45.3%€-11k€-5k▲ 56.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 14% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €901k
Fixed assets
€392k▼ 14.5%
Current assets
€509k▼ 62.3%
Equity and liabilities €901k
Equity
€788k▼ 0.6%
Debt
€113k▼ 88.9%
The debt ratio falls from 56.1% to 12.5%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€114k▼
2024 · €115k
Cash flow
€63k▲
2024 · €51k
Solvency
87.5%▲
2024 · 43.9%
Current ratio
5.01▲
2024 · 1.35
Quick ratio
5.00▲
2024 · 1.35
Debt / equity
0.14▼
2024 · 1.28
ROE
-0.6%▲
2024 · -1.4%
ROA
-0.5%▲
2024 · -0.6%
Interest coverage
3.79▲
2024 · 1.78
Debt
€113k▼
2024 · €1.01M
Debt ≤ 1 year
€101k▼
2024 · €997k
Income taxes
€23k▲
2024 · €312
Staff costs
€7k▲
2024 · €4k
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€1.81M€901k▼
Fixed assets21/28€459k€392k▼
Tangible fixed assets22/27€435k€368k▼
Land and buildings22€393k€357k▼
Plant, machinery and equipment23€22k€4k▼
Furniture and vehicles24€11k€7k▼
Leasing and similar rights25€9k-
Financial fixed assets28€24k€24k=
Current assets29/58€1.35M€509k▼
Stocks and contracts in progress3€1k€1k▲
Stocks30/36€1k€1k▲
Amounts receivable within one year40/41€1.24M€463k▼
Trade receivables40€1.23M€462k▼
Other amounts receivable41€16k€1k▼
Cash at bank and in hand54/58€68k€19k▼
Deferred charges and accrued income490/1€36k€25k▼
Equity and liabilities
Total equity and liabilities10/49€1.81M€901k▼
Equity10/15€793k€788k▼
Contributions10/11€24k€24k=
Reserves13€738k€738k=
Tax-exempt reserves132€39k€39k=
Distributable reserves133€699k€699k=
Profit (loss) carried forward14€31k€26k▼
Amounts payable17/49€1.01M€113k▼
Amounts payable after more than one year17€2k-
Financial debts170/4€2k-
Amounts payable within one year42/48€997k€101k▼
Current portion of amounts payable after more than one year42€32k€2k▼
Financial debts43€349k€4k▼
Credit institutions430/8€4k€4k=
Other loans439€345k-
Trade debts44€595k€73k▼
Suppliers440/4€595k€73k▼
Taxes, remuneration and social security45€22k€23k▲
Taxes450/3€22k€23k▲
Accrued charges and deferred income492/3€15k€11k▼
Income statement
Code20242025
Remuneration, social security and pensions62€4k€7k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€62k€68k▲
Other operating charges640/8€32k€45k▲
Gross operating margin9900€151k€166k▲
Operating profit (loss)9901€53k€46k▼
Financial income75/76B€553€2k▲
Recurring financial income75€553€2k▲
Financial charges65/66B€65k€30k▼
Recurring financial charges65€65k€30k▼
Profit (loss) for the period before taxes9903€-11k€18k▲
Income taxes67/77€312€23k▲
Profit (loss) for the period9904€-11k€-5k▲
Profit (loss) for the period to be appropriated9905€-11k€-5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€31k€26k▼
Profit (loss) brought forward from the previous period14P€42k€31k▼
Social balance
Average headcount (FTE)90871.0-
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 74 days late
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 484 days late
30-09
Financial
Liquidity quadruplescurrent ratio 5.01
Current ratio from 1.35 to 5.01; short-term debt falls from €997k to €101k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 153 days late
2024
30-09
Financial
Weakest financial yearnet €-11k ▼127%
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €93k ▲140%
Operating result €177k, net result €93k, both a record.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
27-07
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 directors, no change since 2024
Marcol Invest BV
CurrentDirector · since 28-05-2024 · Legal entity · perm. rep.: Vanhulle Johan
28-05-2024
Marcol Invest BV: Appointed as Director
28-05-2024
Johan Vanhulle: Resigned as Director
Location & real-estate footprint
Registered office, Zele · 1 establishment unit since 1995
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.
Touwslagerstraat 89240 ZeleGround area
6,905 m²
Building footprint
925 m²
Volume, LiDAR
3,751 m³
2 parcels, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VANHULLE BVBA
since 19952.071.605.343
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42028B0701/00H000 | Flanders | 5,766 m² | 1 · 253 m² | - |
| 42402C0189/00L000 | Flanders | 1,139 m² | 1 · 672 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
2023 to 2025 · 3 entries · 2,193 EUR awarded · 1,694 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 314 EUR | 1,005 EUR |
| 2024 | 1 | 1,190 EUR | 314 EUR |
| 2023 | 1 | 689 EUR | 375 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,806 companies in sector 42220 we hold annual accounts for 948. 460 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-05-1995
Fiscal year end30-09
Activities, NACEBEL
42220Construction of utility projects for electricity and telecommunications
45215
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.