VERHULST
ActiveVERHULST has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €332k and a net result of €314k. Equity is shrinking by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 87% of 13061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +85 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency100▲+52
Growth78▲+46
Stability100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
balance sheet total too small for a liquidity verdict, and 25.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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 2025Solvency, return and age of the figures
Solvency
74.4%
Return on assets
70.4%
Age of the figures
8 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €332k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
42 d early
2023
14 d early
2022
28 d late
2021
23 d late
2020
3 d late
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€314k
2024 · €-34k
2018: €-13k
2019: €-19k
2020: €-10k
2021: €-16k
2022: €12k
2023: €-8k
2024: €-34k
2018 → 2025
Working capital
€432k
2024 · €-27k
2018: €23k
2019: €-3k
2020: €-3k
2021: €-12k
2022: €12k
2023: €14k
2024: €-27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€48k-€60k▲ 24.5%€52k▼ 13.8%€18k▼ 65.5%€332k▲ 1,743%
Operating result€-14k-€12k€-11k€-32k▼ 186%€430k
Net result€-16k-€12k€-8k€-34k▼ 310%€314k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €430k after a loss of €32k in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €446k
Fixed assets
€13k▼ 70.8%
Current assets
€433k▲ 15,547%
Equity and liabilities €446k
Equity
€332k▲ 1,743%
Provisions
€114k
Debt
€152▼ 99.5%
The debt ratio falls from 62.2% to 0.0%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€432k▲
2024 · €-26k
Cash flow
€316k▲
2024 · €-27k
Solvency
74.4%▲
2024 · 37.8%
Debt / equity
0.00▼
2024 · 1.65
ROE
94.6%▲
2024 · -189.5%
ROA
70.4%▲
2024 · -71.6%
Interest coverage
210.17▲
2024 · -13.85
Debt
€152▼
2024 · €30k
Debt ≤ 1 year
€152▼
2024 · €30k
A ratio outside any meaningful range has been withheld (balance sheet total €446k, equity €332k).
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€48k€446k▲
Fixed assets21/28€45k€13k▼
Tangible fixed assets22/27€45k€13k▼
Land and buildings22€28k€13k▼
Other tangible fixed assets26€17k-
Current assets29/58€3k€433k▲
Amounts receivable within one year40/41€747€432k▲
Trade receivables40€428€428=
Other amounts receivable41€319€432k▲
Cash at bank and in hand54/58€1k€175▼
Deferred charges and accrued income490/1€713-
Equity and liabilities
Total equity and liabilities10/49€48k€446k▲
Equity10/15€18k€332k▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€7k€349k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132-€342k
Distributable reserves133€713€713=
Profit (loss) carried forward14€-51k€-80k▼
Provisions and deferred taxes16-€114k
Deferred taxes168-€114k
Amounts payable17/49€30k€152▼
Amounts payable within one year42/48€30k€152▼
Financial debts43€29k-
Credit institutions430/8€29k-
Trade debts44€124€152▲
Suppliers440/4€124€152▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€2k▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€-23k€434k▲
Operating profit (loss)9901€-32k€430k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€-34k€427k▲
Transfer to deferred taxes680-€114k
Profit (loss) for the period9904€-34k€314k▲
Transfer to tax-exempt reserves689-€342k
Profit (loss) for the period to be appropriated9905€-34k€-28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-51k€-80k▼
Profit (loss) brought forward from the previous period14P€-17k€-51k▼
The notes to these accounts (6 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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €314k
Net result €314k after 2 loss-making years.
31-12
Financial
Liquidity times 30380current ratio 2837.84
Current ratio from 0.09 to 2837.84; short-term debt falls from €30k to €152.
31-12
Financial
Equity above €200kEq €332k ▲1743%
Equity rises from €18k to €332k.
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-34k
Net result drops to €-34k, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Back to profitnet €12k
Net result €12k after 4 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.39
Current ratio from 0.46 to 1.39.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 3 days late
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 25 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
22-10-2025
Alexandre BULLA: Resigned as Director
16-12-2011
Christian FLAHAUT: Resigned as Director
Location & real-estate footprint
Registered office, Sint-Pieters-Woluwe · 1 establishment unit since 1985
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.
Yvan Lutenslaan 51150 Sint-Pieters-WoluweGround area
1,136 m²
Building footprint
414 m²
Volume, LiDAR
2,494 m³
2 parcels, Brussels · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VERHULST SPRL
since 19852.081.715.515
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0176/00A019 | Brussels | 884 m² | 1 · 162 m² | 12.9 m · 3 fl. |
| 21018B0149/00K007 | Brussels | 252 m² | 1 · 252 m² | 11.6 m · 1 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.
Structure & network
Connections & network
2 connected companiesNetwork connections
Shared address
→
Shared address
→
Similar companies · same sector, comparable size
CLEVER CONSTRUCT
BE 0478.407.364
Sint-Truiden · Eq €331k
OSKO
BE 0772.340.823
Kruisem · Eq €332k
VALOR CAFÉ
BE 0556.727.540
Diepenbeek · Eq €330k
CONTIMEX
BE 0441.909.333
Diest · Eq €330k
Xtra Via
BE 0846.116.152
Schaarbeek · Eq €333k
Of 7,476 companies in sector 56210 we hold annual accounts for 2,426. 1,492 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-03-1985
Fiscal year end31-12
Activities, NACEBEL
55522
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.