VERVOERONDERNEMING VULSTEKE
ActiveVERVOERONDERNEMING VULSTEKE has been active since 1976 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.30M and a net result of €416k. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 77% of 1836 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▲+2
Solvency90▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €330k at 30 days acceptable
Liquidity ample (current ratio 2.78 against 2.37 in 2024; short-term debt: 22.8% and cash: 14.7% of total assets), and 35.3% 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
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
Sector 49
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
64.7%
Return on assets
6.3%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
23 d early
2023
16 d early
2022
18 d early
2021
31 d late
2020
27 d late
2019
26 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€4.30M▲ 10.7%
2024 · €3.88M
2018: €2.39M
2019: €2.46M
2020: €2.77M
2021: €3.46M
2022: €3.73M
2023: €4.23M
2024: €3.88M
2018 → 2025
Total assets
€6.64M▼ 2.7%
2024 · €6.82M
2018: €5.31M
2019: €5.09M
2020: €4.85M
2021: €5.96M
2022: €6.10M
2023: €6.41M
2024: €6.82M
2018 → 2025
Net result
€416k▲ 13.7%
2024 · €366k
2018: €200k
2019: €73k
2020: €307k
2021: €692k
2022: €265k
2023: €507k
2024: €366k
2018 → 2025
Working capital
€2.70M▲ 7.4%
2024 · €2.52M
2018: €2.08M
2019: €1.97M
2020: €2.20M
2021: €2.48M
2022: €2.75M
2023: €2.96M
2024: €2.52M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.46M-€3.73M▲ 7.6%€4.23M▲ 13.6%€3.88M▼ 8.4%€4.30M▲ 10.7%
Operating result€985k-€374k▼ 62.0%€704k▲ 88.1%€569k▼ 19.2%€603k▲ 6.0%
Net result€692k-€265k▼ 61.8%€507k▲ 91.8%€366k▼ 27.9%€416k▲ 13.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 6% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.64M
Fixed assets
€2.42M▼ 1.6%
Current assets
€4.22M▼ 3.3%
Equity and liabilities €6.64M
Equity
€4.30M▲ 10.7%
Provisions
€3k=
Debt
€2.34M▼ 20.3%
The debt ratio falls from 43.1% to 35.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.09M▲
2024 · €969k
Cash flow
€899k▲
2024 · €767k
Solvency
64.7%▲
2024 · 56.9%
Current ratio
2.78▲
2024 · 2.37
Quick ratio
2.71▲
2024 · 2.35
Debt / equity
0.54▼
2024 · 0.76
ROE
9.7%▲
2024 · 9.4%
ROA
6.3%▲
2024 · 5.4%
Interest coverage
24.81▲
2024 · 15.26
Debt
€2.34M▼
2024 · €2.94M
Debt ≤ 1 year
€1.51M▼
2024 · €1.84M
Debt > 1 year
€824k▼
2024 · €999k
Income taxes
€150k▼
2024 · €151k
Staff costs
€2.06M▲
2024 · €1.80M
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€6.82M€6.64M▼
Fixed assets21/28€2.46M€2.42M▼
Tangible fixed assets22/27€2.43M€2.40M▼
Land and buildings22€963k€1.07M▲
Plant, machinery and equipment23€52k€36k▼
Furniture and vehicles24€463k€404k▼
Leasing and similar rights25€957k€889k▼
Financial fixed assets28€28k€28k=
Current assets29/58€4.36M€4.22M▼
Stocks and contracts in progress3€37k€107k▲
Stocks30/36€37k€107k▲
Amounts receivable within one year40/41€3.28M€2.33M▼
Trade receivables40€3.27M€2.32M▼
Other amounts receivable41€10k€14k▲
Current investments50/53€451k€464k▲
Cash at bank and in hand54/58€408k€977k▲
Deferred charges and accrued income490/1€186k€335k▲
Equity and liabilities
Total equity and liabilities10/49€6.82M€6.64M▼
Equity10/15€3.88M€4.30M▲
Contributions10/11€19k€19k=
Reserves13€3.86M€4.28M▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€225k€435k▲
Distributable reserves133€3.64M€3.84M▲
Provisions and deferred taxes16€3k€3k=
Provisions for liabilities and charges160/5€3k€3k=
Other liabilities and charges164/5€3k€3k=
Amounts payable17/49€2.94M€2.34M▼
Amounts payable after more than one year17€999k€824k▼
Financial debts170/4€999k€824k▼
Amounts payable within one year42/48€1.84M€1.51M▼
Current portion of amounts payable after more than one year42€372k€391k▲
Financial debts43€250k€0▼
Credit institutions430/8€250k€0▼
Trade debts44€432k€621k▲
Suppliers440/4€432k€621k▲
Taxes, remuneration and social security45€491k€484k▼
Taxes450/3€163k€104k▼
Remuneration and social security454/9€328k€380k▲
Other amounts payable47/48€296k€18k▼
Accrued charges and deferred income492/3€96k€2k▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€1.80M€2.06M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€401k€483k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-2k€0▲
Other operating charges640/8€36k€33k▼
Gross operating margin9900€2.81M€3.18M▲
Operating profit (loss)9901€569k€603k▲
Financial income75/76B€12k€7k▼
Recurring financial income75€12k€7k▼
Financial charges65/66B€64k€44k▼
Recurring financial charges65€64k€44k▼
Profit (loss) for the period before taxes9903€517k€566k▲
Income taxes67/77€151k€150k▼
Profit (loss) for the period9904€366k€416k▲
Transfer to tax-exempt reserves689€0€211k▲
Profit (loss) for the period to be appropriated9905€366k€205k▼
Appropriation of the result
Profit (loss) to be appropriated9906€366k€205k▼
Transfer to equity691/2€366k€205k▼
To other reserves6921€366k€205k▼
Social balance
Average headcount (FTE)908732.432.9▲
The notes to these accounts (18 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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €692k ▲125%
Operating result €985k, net result €692k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2019
31-12
Financial
Weakest financial yearnet €73k ▼63.5%
Net result drops to €73k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Staden · 1 establishment unit since 2002
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.
Sint Jansstraat(STA) 1248840 StadenGround area
4,917 m²
Building footprint
1,824 m²
Volume, LiDAR
12,253 m³
2 parcels, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ieperstraat 79, 8610 Kortemark
since 20022.012.861.252
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32011D0415/00G000 | Flanders | 3,814 m² | 1 · 1,824 m² | 10.4 m · 2 fl. |
| 36019A0846/02H000 | Flanders | 1,103 m² | - | - |
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
2022 to 2025 · 5 entries · 21,581 EUR awarded · 21,581 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,709 EUR | 4,469 EUR |
| 2024 | 1 | 3,052 EUR | 292 EUR |
| 2023 | 2 | 16,142 EUR | 16,142 EUR |
| 2022 | 1 | 678 EUR | 678 EUR |
Schemes
Subsidies ecologisch en veilig transport (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortemark2.012.861.252
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Of 12,605 companies in sector 49410 we hold annual accounts for 8,195. 1,914 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-11-1976
Fiscal year end31-12
Activities, NACEBEL
49410Freight transport by road
43120Site preparation
45112
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.