Vulcast
Bankruptcy closedInactive since 23-06-2026; last annual accounts for fiscal year 2019.
Summary
Vulcast was declared bankrupt on 11-03-2022 (Tribunal de l’entreprise de Liège, division Neufchâteau); the bankruptcy was closed by liquidation by judgment of 19-06-2026, published in the Belgian State Gazette on 07-07-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2019 was due by 31-07-2020 and was filed on 29-09-2020, 60 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
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
60 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its 2019 accounts 60 days after the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 29% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Still owed money by this company? This is how you file your claim.Creditor guide Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check How is the Manufacture of basic metals sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2019, full schema
Turnover
€9.5m▼ 9.5%
2018 · €10.5m
EBIT margin
-25.3%▲ 7.8pp
2018 · -33.0%
Net result
€136,668▼ 93.8%
2018 · €2.2m
Working capital
€1.1m
2018 · -€1.5m
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
Line20182019
Turnover€10.5m-€9.5m▼ 9.5%
Operating result-€3.5m--€2.4m▲ 30.7%
Net result€2.2m-€136,668▼ 93.8%
EBIT margin-33.0%--25.3%▲ 7.8pp
Equity€963,102-€1.1m▲ 14.2%
Total assets€7.5m-€6.8m▼ 8.5%
Debt€6.1m-€5.5m▼ 10.1%
Working capital-€1.5m-€1.1m
Staff (FTE)84-78.4▼ 6.7%
Why a figure moved sharply
- 2019 Net result -94% on 2018. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.4m in 2019 against €3.5m in 2018; the loss shrinks.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €6.8m
Fixed assets
€2.3m ▼ 19.4%
Current assets
€4.6m ▼ 1.9%
Equity and liabilities €6.8m
Equity
€1.1m ▲ 14.2%
Provisions
€220,738 ▼ 40.7%
Debt
€5.5m ▼ 10.1%
Debt's share of the balance-sheet total falls from 82.2% to 80.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1.7m▲
2018 · -€2.7m
Cash flow
€841,605▼
2018 · €3.0m
Current ratio
1.31▲
2018 · 0.76
Quick ratio
0.90▲
2018 · 0.47
Debt to equity
1.83▲
2018 · 0.02
ROE
12.4%▼
2018 · 229.4%
ROA
2.0%▼
2018 · 29.5%
Interest coverage
-34.86▼
2018 · -14.74
Debt ≤ 1 year
€3.5m▼
2018 · €6.1m
Debt > 1 year
€2.0m▲
2018 · €21,582
Income taxes
€10,651▼
2018 · €137,829
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Turnover70 | €10.5m | €9.5m | ▼ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €768,884 | €704,937 | ▼ 8.3% |
| Operating profit (loss)9901 | -€3.5m | -€2.4m | ▲ 30.7% |
| Recurring financial income75 | €15,120 | €21,980 | ▲ 45.4% |
| Recurring financial charges65 | €192,095 | €59,465 | ▼ 69.0% |
| Debt charges650 | €183,587 | €48,837 | ▼ 73.4% |
| Profit (loss) for the period before taxes9903 | €2.3m | €147,319 | ▼ 93.7% |
| Income taxes67/77 | €137,829 | €10,651 | ▼ 92.3% |
| Profit (loss) for the period9904 | €2.2m | €136,668 | ▼ 93.8% |
| Profit (loss) for the period to be appropriated9905 | €2.2m | €136,668 | ▼ 93.8% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €7.5m | €6.8m | ▼ 8.5% |
| Fixed assets21/28 | €2.8m | €2.3m | ▼ 19.4% |
| Tangible fixed assets22/27 | €2.8m | €2.2m | ▼ 20.3% |
| Financial fixed assets28 | €11,000 | €36,000 | ▲ 227% |
| Current assets29/58 | €4.7m | €4.6m | ▼ 1.9% |
| Stocks and contracts in progress3 | €1.8m | €1.4m | ▼ 18.1% |
| Amounts receivable within one year40/41 | €1.7m | €1.1m | ▼ 36.1% |
| Cash at bank and in hand54/58 | €25 | €223,632 | ▲ 886,272% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €7.5m | €6.8m | ▼ 8.5% |
| Equity10/15 | €963,102 | €1.1m | ▲ 14.2% |
| Contributions10/11 | €1.4m | €1.4m | = |
| Reserves13 | €48,563 | €48,563 | = |
| Profit (loss) carried forward14 | -€481,275 | -€344,607 | ▲ 28.4% |
| Provisions and deferred taxes16 | €372,471 | €220,738 | ▼ 40.7% |
| Amounts payable17/49 | €6.1m | €5.5m | ▼ 10.1% |
| Amounts payable after more than one year17 | €21,582 | €2.0m | ▲ 9,203% |
| Amounts payable within one year42/48 | €6.1m | €3.5m | ▼ 42.9% |
| Trade debts44 | €1.9m | €2.2m | ▲ 15.4% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €2.2m | €136,668 | ▼ 93.8% |
| + Depreciation and write-downs630 | €768,884 | €704,937 | ▼ 8.3% |
| Operating cash flow (approximation) | €3.0m | €841,605 | ▼ 71.7% |
| Investment in fixed assets (approximation) | - | -€155,823 | - |
| Change in cash | - | €223,606 | - |
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
2026
07-07
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise de Liège, division Neufchâteau · event 19-06-2026
2022
23-03
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Neufchâteau · event 11-03-2022
2020
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 60 days late
2019
31-12
Financial
Equity above €1mEq €1.1m ▲14.2%
2 profitable years in a row build equity to €1.1m.
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 1 day late
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
12-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
09-06
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
11-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
2013
18-06
NBB filing
Annual accounts filed
fiscal year 2012 · full schema
2012
20-06
NBB filing
Annual accounts filed
fiscal year 2011 · full schema
2011
24-06
NBB filing
Annual accounts filed
fiscal year 2010 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 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
22 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, Messancy
Ground area
7.3 ha
Building footprint
1.5 ha
Parcel 81015A2922/00B002, Wallonia. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81015A2922/00B002 | Wallonia | 7.3 ha | 1 · 1.5 ha | - |
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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | DANIEL ZAMARIOLA AL GLORIETTE 20,
6900 11 LIGNIERES |
11-03-2022 → 19-06-2026 |
| Curator | ALAIN LONHIENNE RUE DE L’AGNEAU 5, 4140 SPRIMONT- secretariat@lonhienne-
associes.be |
11-03-2022 → 19-06-2026 |
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Of 67 companies in sector 24520 we hold annual accounts for 50. 33 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-11-1993
Fiscal year end31-12
Activities, NACEBEL 2025
24520Manufacture of basic metals
24530Manufacture of basic metals
46820Wholesale trade
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.