VULCON
ActiveSummary
VULCON has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €163,104 and a net result of €3,066. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 16% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability53▼-1
Solvency38▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.13 against 0.37 in 2023; short-term debt: 37.9% and cash: 2.8% of total assets), and 86.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 37948 sector peers (2024).
NBB · sector comparisonPosition among 37948 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
9 d early
2022
56 d early
2021
19 d late
2020
16 d early
2019
14 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€163,104▲ 1.9%
2023 · €160,039
Total assets
€1.2m▲ 14.2%
2023 · €1.1m
Net result
€3,066▼ 85.5%
2023 · €21,174
Working capital
-€407,987▼ 96.9%
2023 · -€207,239
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
Line20202021202220232024
Operating result-€187€14,451€68,734▲ 376%€52,860▼ 23.1%€30,388▼ 42.5%
Net result-€5,816€3,346€45,441▲ 1,258%€21,174▼ 53.4%€3,066▼ 85.5%
Equity€90,078▼ 6.1%€93,424▲ 3.7%€138,865▲ 48.6%€160,039▲ 15.2%€163,104▲ 1.9%
Total assets€433,145▲ 90.5%€406,604▼ 6.1%€433,497▲ 6.6%€1.1m▲ 151%€1.2m▲ 14.2%
Debt€343,067▲ 161%€313,179▼ 8.7%€294,632▼ 5.9%€925,982▲ 214%€1.1m▲ 16.3%
Working capital-€96,806▼ 1,629%-€98,572▼ 1.8%-€69,487▲ 29.5%-€207,239▼ 198%-€407,987▼ 96.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 43% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.2m ▲ 21.9%
Current assets
€61,601 ▼ 48.5%
Equity and liabilities €1.2m
Equity
€163,104 ▲ 1.9%
Debt
€1.1m ▲ 16.3%
Debt's share of the balance-sheet total rises from 85.3% to 86.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€95,359▲
2023 · €86,337
Cash flow
€68,036▲
2023 · €54,651
Current ratio
0.13▼
2023 · 0.37
Debt to equity
6.60▲
2023 · 5.79
ROE
1.9%▼
2023 · 13.2%
ROA
0.2%▼
2023 · 1.9%
Interest coverage
4.02▲
2023 · 3.92
Debt ≤ 1 year
€469,588▲
2023 · €326,771
Debt > 1 year
€607,037▲
2023 · €599,210
Income taxes
€3,633▼
2023 · €9,666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,098 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,098 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,300 | €16,151 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,550 | €41,900 | €30,925 | €33,477 | €64,971 | ▲ 94.1% |
| Other operating charges640/8 | - | €3,070 | €1,822 | €1,282 | €1,148 | ▼ 10.4% |
| Non-recurring operating charges66A | - | - | - | - | €281 | - |
| Gross operating margin9900 | €58,321 | €59,421 | €101,482 | €87,619 | €96,787 | ▲ 10.5% |
| Operating profit (loss)9901 | -€187 | €14,451 | €68,734 | €52,860 | €30,388 | ▼ 42.5% |
| Financial income75/76B | - | - | €15 | €0 | €9 | - |
| Recurring financial income75 | €12 | - | €15 | €0 | €9 | - |
| Financial charges65/66B | - | €7,060 | €6,277 | €22,020 | €23,699 | ▲ 7.6% |
| Recurring financial charges65 | €3,792 | €7,060 | €6,277 | €22,020 | €23,699 | ▲ 7.6% |
| Profit (loss) for the period before taxes9903 | -€3,967 | €7,390 | €62,472 | €30,840 | €6,698 | ▼ 78.3% |
| Income taxes67/77 | €1,849 | €4,044 | €17,031 | €9,666 | €3,633 | ▼ 62.4% |
| Profit (loss) for the period9904 | -€5,816 | €3,346 | €45,441 | €21,174 | €3,066 | ▼ 85.5% |
| Profit (loss) for the period to be appropriated9905 | -€5,816 | €3,346 | €45,441 | €21,174 | €3,066 | ▼ 85.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €433,145 | €406,604 | €433,497 | €1.1m | €1.2m | ▲ 14.2% |
| Fixed assets21/28 | €407,106 | €379,885 | €363,907 | €966,488 | €1.2m | ▲ 21.9% |
| Tangible fixed assets22/27 | €385,106 | €364,485 | €355,107 | €964,288 | €1.2m | ▲ 22.2% |
| Land and buildings22 | - | €290,488 | €283,564 | €861,998 | €1.1m | ▲ 27.2% |
| Plant, machinery and equipment23 | - | €6,412 | €4,109 | €7,625 | €9,553 | ▲ 25.3% |
| Furniture and vehicles24 | - | €46,674 | €25,275 | €68,190 | €49,507 | ▼ 27.4% |
| Other tangible fixed assets26 | - | €13,531 | €30,121 | €26,476 | €22,830 | ▼ 13.8% |
| Assets under construction and advance payments27 | - | €7,380 | €12,038 | €0 | - | - |
| Financial fixed assets28 | €22,000 | €15,400 | €8,800 | €2,200 | €0 | ▼ 100% |
| Current assets29/58 | €26,039 | €26,719 | €69,591 | €119,533 | €61,601 | ▼ 48.5% |
| Amounts receivable within one year40/41 | €15,190 | €16,870 | €39,896 | €20,006 | €22,266 | ▲ 11.3% |
| Trade receivables40 | - | €16,433 | €39,896 | €19,641 | €18,398 | ▼ 6.3% |
| Other amounts receivable41 | - | €437 | - | €365 | €3,867 | ▲ 958% |
| Cash at bank and in hand54/58 | €1,508 | €8,650 | €18,135 | €92,749 | €35,296 | ▼ 61.9% |
| Deferred charges and accrued income490/1 | - | €1,199 | €11,559 | €6,778 | €4,039 | ▼ 40.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €433,145 | €406,604 | €433,497 | €1.1m | €1.2m | ▲ 14.2% |
| Equity10/15 | €90,078 | €93,424 | €138,865 | €160,039 | €163,104 | ▲ 1.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €71,478 | €74,824 | €120,265 | €141,439 | €144,504 | ▲ 2.2% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | €72,964 | €118,405 | €141,439 | €144,504 | ▲ 2.2% |
| Amounts payable17/49 | €343,067 | €313,179 | €294,632 | €925,982 | €1.1m | ▲ 16.3% |
| Amounts payable after more than one year17 | €220,222 | €187,889 | €155,555 | €599,210 | €607,037 | ▲ 1.3% |
| Financial debts170/4 | - | €187,889 | €155,555 | €599,210 | €607,037 | ▲ 1.3% |
| Amounts payable within one year42/48 | €122,845 | €125,291 | €139,077 | €326,771 | €469,588 | ▲ 43.7% |
| Current portion of amounts payable after more than one year42 | - | €32,333 | €32,333 | €49,630 | €48,889 | ▼ 1.5% |
| Trade debts44 | €1,405 | €350 | €390 | €2,931 | €52,542 | ▲ 1,693% |
| Suppliers440/4 | - | €350 | €390 | €2,931 | €52,542 | ▲ 1,693% |
| Taxes, remuneration and social security45 | - | €8,050 | €29,584 | €18,221 | €8,489 | ▼ 53.4% |
| Taxes450/3 | - | €8,050 | €29,584 | €18,221 | €8,489 | ▼ 53.4% |
| Other amounts payable47/48 | - | €84,557 | €76,769 | €255,990 | €359,669 | ▲ 40.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,816 | €3,346 | €45,441 | €21,174 | €3,066 | ▼ 85.5% |
| + Depreciation and write-downs630 | €55,550 | €41,900 | €30,925 | €33,477 | €64,971 | ▲ 94.1% |
| Operating cash flow (approximation) | €49,733 | €45,246 | €76,366 | €54,651 | €68,036 | ▲ 24.5% |
| Investment in fixed assets (approximation) | - | -€14,679 | -€14,947 | -€636,058 | -€276,611 | ▲ 56.5% |
| Change in cash | - | €7,142 | €9,485 | €74,614 | -€57,453 | ▼ 177% |
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
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €160,039 ▲15.2%
3 profitable years in a row build equity to €160,039.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €45,441 ▲1,258%
Operating result €68,734, net result €45,441, both a record.
31-12
Financial
Equity above €100,000Eq €138,865 ▲48.6%
2 profitable years in a row build equity to €138,865.
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial
Back to profitnet €3,346
Net result €3,346 after one loss-making year.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€5,816
Net result drops to -€5,816, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Show earlier events
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
08-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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 2009
Ground area
9,674 m²
Building footprint
188 m²
Volume, LiDAR
1,179 m³
Parcel 36019B1273/00N000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Vulcon
since 20092.180.521.396
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36019B1273/00N000 | Flanders | 9,674 m² | 1 · 188 m² | 9.8 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,110 EUR awarded · 1,110 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 48 EUR | 48 EUR |
| 2024 | 1 | 946 EUR | 946 EUR |
| 2023 | 1 | 116 EUR | 116 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 40,745 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-07-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
77320Rental and leasing activities
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0817006947
Also
9925:BE0817006947
Registered
03-04-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.