Summary
The computed 12-month bankruptcy probability of VULKAN is 1.8% (moderate). The 2025 annual accounts show equity of €49,125 and a net result of -€465. Equity remains stable across the filed fiscal years (±1.5% per year). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 7 accounts on average 11 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 12,321 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €211 | €211 | - | - | - | - |
| Other operating charges640/8 | - | €414 | - | €752 | €400 | ▼ 46.8% |
| Gross operating margin9900 | -€3,041 | -€771 | -€348 | -€306 | -€66 | ▲ 78.5% |
| Operating profit (loss)9901 | -€3,618 | -€1,396 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| Financial income75/76B | - | €1,853 | - | - | - | - |
| Recurring financial income75 | €1,786 | €1,853 | - | - | - | - |
| Financial charges65/66B | - | €227 | - | - | - | - |
| Recurring financial charges65 | €124 | €227 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1,956 | €230 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| Income taxes67/77 | €207 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€2,162 | €230 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| Profit (loss) for the period to be appropriated9905 | -€2,162 | €230 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54,563 | €51,261 | €50,648 | €49,591 | €49,125 | ▼ 0.9% |
| Fixed assets21/28 | €3,101 | €2,890 | €2,890 | €2,890 | €2,890 | = |
| Tangible fixed assets22/27 | €3,101 | €2,890 | €2,890 | €2,890 | €2,890 | = |
| Plant, machinery and equipment23 | - | €2,890 | €2,890 | €2,890 | €2,890 | = |
| Current assets29/58 | €51,462 | €48,371 | €47,758 | €46,701 | €46,235 | ▼ 1.0% |
| Amounts receivable after more than one year29 | - | €48,301 | €47,758 | €46,701 | €46,235 | ▼ 1.0% |
| Other amounts receivable291 | - | €48,301 | €47,758 | €46,701 | €46,235 | ▼ 1.0% |
| Amounts receivable within one year40/41 | €4,918 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €95 | €69 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54,563 | €51,261 | €50,648 | €49,591 | €49,125 | ▼ 0.9% |
| Equity10/15 | €50,765 | €50,996 | €50,648 | €49,591 | €49,125 | ▼ 0.9% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Issued capital100 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €40,713 | €40,713 | €40,713 | €40,713 | €40,713 | = |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Legal reserve130 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | €38,713 | €38,713 | €38,713 | €38,713 | = |
| Profit (loss) carried forward14 | -€9,947 | -€9,717 | -€10,064 | -€11,122 | -€11,587 | ▼ 4.2% |
| Amounts payable17/49 | €3,798 | €265 | - | - | - | - |
| Amounts payable within one year42/48 | €3,798 | €252 | - | - | - | - |
| Trade debts44 | €3,798 | €252 | - | - | - | - |
| Suppliers440/4 | - | €252 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €13 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,162 | €230 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| + Depreciation and write-downs630 | €211 | €211 | - | - | - | - |
| Operating cash flow (approximation) | -€1,951 | €442 | -€348 | -€1,057 | -€465 | ▲ 56.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€26 | - | - | - | - |
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
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
2 parcels
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0005/00C037 | Brussels | 511 m² | 1 · 182 m² | 11.5 m · 3 fl. |
| 21808H0525/00N000 | Brussels | 285 m² | 1 · 31 m² | 16.6 m · 5 fl. |
Linked by address, not proof of ownership
Identification & contact
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.