VULK
ActiveSummary
The annual accounts of VULK for fiscal year 2025 show a net loss of 55% of the equity at the start of that year. The 2025 annual accounts show equity of €15k and a net result of €-19k. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 39% of 7500 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-78
Solvency59▼-35
Growth42▼-13
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.35 against 2.85 in 2024; short-term debt: 66.2% and cash: 0.2% of total assets), and 66.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
33.8%
Return on assets
-40.9%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
27 d early
2021
2 d early
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€594k▲ 8.2%
2018 · €549k
2018: €549k
2019: €594k▲ +8.2% vs 2018
2018 → 2019
EBIT margin
0.0%▼ 2.1pp
2018 · 2.1%
2018: 2.1%
2019: 0.0%▼ -99.2% vs 2018
2018 → 2019
Net result
€-19k
2024 · €4k
2018: €8khighest in 8 years
2019: €-504▼ -106% vs 2018
2020: €1k▲ +318% vs 2019
2021: €872▼ -20.6% vs 2020
2022: €1k▲ +47.9% vs 2021
2023: €792▼ -38.6% vs 2022
2024: €4k▲ +354% vs 2023
2025: €-19k▼ -616% vs 2024lowest in 8 years
2018 → 2025
Working capital
€11k▼ 62.9%
2024 · €28k
2018: €9klowest in 8 years
2019: €19k▲ +113% vs 2018
2020: €26k▲ +37.2% vs 2019
2021: €24k▼ -6.1% vs 2020
2022: €23k▼ -4.1% vs 2021
2023: €26k▲ +12.7% vs 2022
2024: €28k▲ +9.6% vs 2023highest in 8 years
2025: €11k▼ -62.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€28k-€29k▲ 4.6%€30k▲ 2.7%€34k▲ 11.9%€15k▼ 54.8%
2021: €28k
2022: €29k▲ +4.6% vs 2021
2023: €30k▲ +2.7% vs 2022
2024: €34k▲ +11.9% vs 2023highest in 5 years
2025: €15k▼ -54.8% vs 2024lowest in 5 years
Operating result€1k-€2k▲ 34.4%€2k▼ 11.3%€13k▲ 614%€-18k
2021: €1k
2022: €2k▲ +34.4% vs 2021
2023: €2k▼ -11.3% vs 2022
2024: €13k▲ +614% vs 2023highest in 5 years
2025: €-18k▼ -246% vs 2024lowest in 5 years
Net result€872-€1k▲ 47.9%€792▼ 38.6%€4k▲ 354%€-19k
2021: €872
2022: €1k▲ +47.9% vs 2021
2023: €792▼ -38.6% vs 2022
2024: €4k▲ +354% vs 2023highest in 5 years
2025: €-19k▼ -616% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €18k after €13k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45k
Fixed assets
€5k ▼ 12.3%
Current assets
€41k ▼ 7.4%
Equity and liabilities €45k
Equity
€15k ▼ 54.8%
Debt
€30k ▲ 95.2%
Debt's share of the balance-sheet total rises from 31.2% to 66.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-15k▼
2024 · €15k
Cash flow
€-15k▼
2024 · €6k
Current ratio
1.35▼
2024 · 2.85
Debt to equity
1.96▲
2024 · 0.45
ROE
-121.1%▼
2024 · 10.6%
ROA
-40.9%▼
2024 · 7.3%
Interest coverage
-57.64▼
2024 · 32.49
Debt ≤ 1 year
€30k▲
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€49k€45k▼
Fixed assets21/28€5k€5k▼
Tangible fixed assets22/27€5k€5k▼
Plant, machinery and equipment23€2k€470▼
Furniture and vehicles24€4k€4k▲
Current assets29/58€44k€41k▼
Amounts receivable within one year40/41€39k€40k▲
Trade receivables40€38k€32k▼
Other amounts receivable41€995€8k▲
Cash at bank and in hand54/58€5k€102▼
Equity and liabilities
Total equity and liabilities10/49€49k€45k▼
Equity10/15€34k€15k▼
Contributions10/11€19k€19k=
Reserves13€559€559=
Non-distributable reserves130/1€559€559=
Reserves not available under the articles1311€559€559=
Profit (loss) carried forward14€15k€-4k▼
Amounts payable17/49€15k€30k▲
Amounts payable within one year42/48€15k€30k▲
Trade debts44€6k€18k▲
Suppliers440/4€6k€18k▲
Taxes, remuneration and social security45€993-
Taxes450/3€993-
Other amounts payable47/48€8k€12k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€17k€-13k▼
Operating profit (loss)9901€13k€-18k▼
Financial income75/76B€2-
Recurring financial income75€2-
Financial charges65/66B€8k€262▼
Recurring financial charges65€465€262▼
Non-recurring financial charges66B€8k-
Profit (loss) for the period before taxes9903€5k€-19k▼
Income taxes67/77€993-
Profit (loss) for the period9904€4k€-19k▼
Profit (loss) for the period to be appropriated9905€4k€-19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€15k€-4k▼
Profit (loss) brought forward from the previous period14P€11k€15k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €14 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €930 | €2k | €3k | €3k | ▲ 24.5% |
| Other operating charges640/8 | €1k | €778 | €2k | €1k | €2k | ▲ 67.0% |
| Gross operating margin9900 | €4k | €4k | €6k | €17k | €-13k | ▼ 177% |
| Operating profit (loss)9901 | €1k | €2k | €2k | €13k | €-18k | ▼ 246% |
| Financial income75/76B | €123 | €0 | €0 | €2 | - | - |
| Recurring financial income75 | €123 | €0 | €0 | €2 | - | - |
| Financial charges65/66B | €342 | €343 | €562 | €8k | €262 | ▼ 96.7% |
| Recurring financial charges65 | €342 | €343 | €562 | €465 | €262 | ▼ 43.5% |
| Non-recurring financial charges66B | - | - | - | €8k | - | - |
| Profit (loss) for the period before taxes9903 | €1k | €2k | €1k | €5k | €-19k | ▼ 504% |
| Income taxes67/77 | €384 | €350 | €405 | €993 | - | - |
| Profit (loss) for the period9904 | €872 | €1k | €792 | €4k | €-19k | ▼ 616% |
| Profit (loss) for the period to be appropriated9905 | €872 | €1k | €792 | €4k | €-19k | ▼ 616% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58k | €32k | €40k | €49k | €45k | ▼ 7.9% |
| Fixed assets21/28 | €4k | €6k | €4k | €5k | €5k | ▼ 12.3% |
| Tangible fixed assets22/27 | €4k | €6k | €4k | €5k | €5k | ▼ 12.3% |
| Plant, machinery and equipment23 | €4k | €4k | €3k | €2k | €470 | ▼ 69.2% |
| Furniture and vehicles24 | - | €3k | €2k | €4k | €4k | ▲ 9.9% |
| Current assets29/58 | €54k | €25k | €35k | €44k | €41k | ▼ 7.4% |
| Amounts receivable within one year40/41 | €54k | €25k | €35k | €39k | €40k | ▲ 3.7% |
| Trade receivables40 | €46k | €22k | €29k | €38k | €32k | ▼ 15.2% |
| Other amounts receivable41 | €8k | €3k | €7k | €995 | €8k | ▲ 725% |
| Cash at bank and in hand54/58 | €34 | €132 | €45 | €5k | €102 | ▼ 97.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58k | €32k | €40k | €49k | €45k | ▼ 7.9% |
| Equity10/15 | €28k | €29k | €30k | €34k | €15k | ▼ 54.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €559 | €559 | €559 | €559 | €559 | = |
| Non-distributable reserves130/1 | €559 | €559 | €559 | €559 | €559 | = |
| Reserves not available under the articles1311 | €559 | €559 | €559 | €559 | €559 | = |
| Profit (loss) carried forward14 | €9k | €10k | €11k | €15k | €-4k | ▼ 126% |
| Amounts payable17/49 | €30k | €2k | €9k | €15k | €30k | ▲ 95.2% |
| Amounts payable within one year42/48 | €30k | €2k | €9k | €15k | €30k | ▲ 95.2% |
| Trade debts44 | €28k | €1k | €5k | €6k | €18k | ▲ 185% |
| Suppliers440/4 | €28k | €1k | €5k | €6k | €18k | ▲ 185% |
| Taxes, remuneration and social security45 | €2k | €350 | €405 | €993 | - | - |
| Taxes450/3 | €2k | €350 | €405 | €993 | - | - |
| Other amounts payable47/48 | €323 | €581 | €4k | €8k | €12k | ▲ 49.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €872 | €1k | €792 | €4k | €-19k | ▼ 616% |
| + Depreciation and write-downs630 | €1k | €930 | €2k | €3k | €3k | ▲ 24.5% |
| Operating cash flow (approximation) | €2k | €2k | €3k | €6k | €-15k | ▼ 351% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €-4k | €-2k | ▲ 31.8% |
| Change in cash | - | €99 | €-88 | €5k | €-5k | ▼ 199% |
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
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Liquidity times 6current ratio 11.44
Current ratio from 1.80 to 11.44; short-term debt falls from €30k to €2k.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 19 acts read
About the unread acts
We know of 19 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
19 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, Theux · 1 establishment unit since 2017
Ground area
1,123 m²
Building footprint
207 m²
Volume, LiDAR
1,774 m³
2 parcels, Wallonia · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
VULK
since 20172.267.310.959
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63060C0354/00F000 | Wallonia | 847 m² | 1 · 136 m² | 8.6 m · 2 fl. |
| 63079D0365/00S002 | Wallonia | 276 m² | 1 · 71 m² | 13.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 10,760 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
Founded29-05-2017
Fiscal year end30-09
Activities, NACEBEL 2025
41001General construction of residential buildings
Contact
E-mail
vulksprl@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.