Filings
8 annual accounts since 2018
The last five annual accounts were filed 0 to 27 days before the end of the period.
VULK
Lifetime
8 annual accounts with figures on one time axispeak €28,893 (2018)
-€12,722▼ €29,258
lowest -€18,547 (2025)
-€18,547▼ €22,141
peak €33,860 (2024)
€15,314▼ 54.8%
€30,035▲ 95.2%
Board17 names since 2017all names
2 directorsGherman Constantin and 1 other
Documentsfilings and deeds
30-04-2026on the last day
2025micro format
Gross margin from €16,536 to -€12,722Loss of €18,547Resignations: Bohdan ZUBAN (director) and loan TARNAVETSKYI (… 23-122 directors appointed, 1 resignation 06-10Equity from €33,860 to €15,314Debts from €15,386 to €30,035
Key points
from the 2025 annual accountsBoard
2 joined · 1 left
Board changed. Latest change 11-05-2026 · 4 in office.
Position in the sector
-€18,547
Lower net result than 90% of companies in construction of buildings. Sector median €8,554 · 9,452 companies.
Turnover not published (micro format)
Checked score
51
Fair
Financially stronger than 17% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.3% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.5%
01-2025: 2.3%▼ -0.2 percentage points vs 12-2024
02-2025: 2.3%● unchanged vs 01-2025
03-2025: 2.1%▼ -0.2 percentage points vs 02-2025
04-2025: 2.3%▲ +0.2 percentage points vs 03-2025
05-2025: 2.8%▲ +0.5 percentage points vs 04-2025highest value
06-2025: 1.4%▼ -1.4 percentage points vs 05-2025
07-2025: 1.1%▼ -0.3 percentage points vs 06-2025
08-2025: 1.1%● unchanged vs 07-2025
09-2025: 1.1%● unchanged vs 08-2025
10-2025: 1.0%▼ -0.1 percentage points vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025lowest value
12-2025: 1.0%● unchanged vs 11-2025
01-2026: 1.1%▲ +0.1 percentage points vs 12-2025
02-2026: 1.1%● unchanged vs 01-2026
03-2026: 1.1%● unchanged vs 02-2026
04-2026: 1.3%▲ +0.2 percentage points vs 03-2026
05-2026: 1.7%▲ +0.4 percentage points vs 04-2026
06-2026: 2.4%▲ +0.7 percentage points vs 05-2026
07-2026: 2.4%● unchanged vs 06-2026
08-2026: 2.4%● unchanged vs 07-2026
09-2026: 2.4%● unchanged vs 08-2026
10-2026: 2.3%▼ -0.1 percentage points vs 09-2026
11-2026: 2.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Liquidity: current ratio 1.35, cash €102, halved
Loss of €18,547 (financial year 2025)
Size: total assets €45,349
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 41% of them on solvency, 13% on liquidity, 5% on profitability and 10% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,591 companies had the same profile as VULK has now. Each dot stands for 9 companies, two years later.
87.3%
were still trading
9.4%
stopped another way
3.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VULK itself: 2.3% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,591 companies, not a prediction for VULK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is tight, with a current ratio of 1.35 (2.85 in 2024), below the usual 1.5. Short-term debt is 66.2% and cash 0.2% of total assets. 66.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises riskneutral
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 days early
2021
2 days early
2020
1 day early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 4 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 30 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Board and ownership
- GHERMAN Constantin 75 sharesdeed of 13-07-2026
- TARNAVETSKYI Kostiantyn 5 sharesdeed of 13-07-2026
- ISTRATII Kostiantyn 5 sharesdeed of 13-07-2026
Recent changes
Appointments: Tuniak Mariia (director) and Gherman Roxana lonela (director)
GHERMAN Constantin holds 75 shares · TARNAVETSKYI Kostiantyn holds 5 shares · ISTRATII Kostiantyn holds 5 shares · General meeting of 20-05-2026 · Gazette deed
Resignations: Bohdan ZUBAN (director) and loan TARNAVETSKYI (director)
GHERMAN Constantin holds 85 shares · TARNAVETSKYI Kostiantyn holds 5 shares · ISTRATII Kostiantyn holds 5 shares · General meeting of 30-06-2025 · Gazette deed
2 directors appointed, 1 resignation
Resignation: Nicolae GHERMAN · Appointments: Yurii ZORIAN and loan TARNAVETSKYI · GHERMAN Constantin holds 75 shares · General meeting of 30-06-2025 · Gazette deed
Appointment: Kostiantyn ISTRATII (director)
GHERMAN Constantin holds 80 shares · GHERMAN Nicolae holds 5 shares · TARNAVETSKYI Kostiantyn holds 5 shares · General meeting of 01-11-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| VULK Theux | €45,349 | -€12,722 | 33.8% | - |
| Polimat Carrelage Beyne-Heusay | €41,434 | €235 | 19.5% | - |
| THIERRY BROSSEL CONSTRUCT Bassenge | €40,499 | -€3,408 | 70.0% | - |
| EQUARRI Sprimont | €54,200 | -€787 | 81.9% | - |
| MF SOLUTIONS Hannut | €52,040 | -€7,110 | 56.5% | - |
| VASSART & CO Chauffage et Climatisation Industrielle Forest | €45,003 | -€1,214 | 13.1% | - |
| PV-Sol Menen | €43,110 | €117 | -646.1% | - |
These companies have the same main activity as VULK: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €40,500 and €54,200, founded between 2016 and 2018.
Official details
Source: KBO- Status
- Active since 29-05-2017Normal situation
- Activity
- General construction of residential buildingsNACE 41001
- Establishment unit
- 2.267.310.9594800 Verviers, since 01-07-2017
- Financial year end
- 30 September
- Peppol
- Reachable since 20-11-2020
Annual accounts to 30-09-2025
- €45,349▼ 7.9%
- Filing
- Filed on 30-04-2026, on the last day of the filing period
Insights on VULK
VULK files the micro format. That format states no turnover. The gross margin fell from €28,893 in 2018 to -€12,722 in 2025.
In 2025, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VULK
- What is the company number of VULK?
- The company number of VULK is 0676.382.483. The VAT number is the same number with BE in front: BE 0676.382.483.
- Where is VULK based?
- The registered office is at Avenue René Lange 34, 4910 Theux.Company details
- What does VULK do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of VULK?
- VULK is a private limited company (BV).
- When was VULK founded?
- VULK was founded on 29-05-2017.
- Is VULK still active?
- Yes, VULK is an active enterprise in the KBO register.
- What is the turnover of VULK?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it. In financial year 2019 turnover was €593,765.Financials
- Is VULK profitable?
- In financial year 2025, VULK made a loss of €18,547.
- Where can I find the annual accounts of VULK?
- VULK filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VULK due?
- VULK must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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