VULPES PARTNERS
ActiveSummary
VULPES PARTNERS has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €60k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 18% of 17043 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency39▼-48
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.83 against 1.99 in 2024; short-term debt: 78.6% and cash: 20.8% of total assets), and 85.7% of the assets are financed with debt.
Credit advice for your own amount and term
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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.3%
Return on assets
40.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 17043 sector peers (2025).
NBB · sector comparisonPosition among 17043 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
25 d late
2023
42 d early
2022
5 d early
2021
40 d early
2020
29 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€21k▼ 74.8%
2024 · €84k
2018: €68k
2019: €84k
2020: €60k
2021: €73k
2022: €74k
2023: €80k
2024: €84k
2018 → 2025
Total assets
€148k▲ 9.6%
2024 · €135k
2018: €109k
2019: €110k
2020: €117k
2021: €152k
2022: €125k
2023: €133k
2024: €135k
2018 → 2025
Net result
€60k▲ 37.4%
2024 · €44k
2018: €26k
2019: €16k
2020: €26k
2021: €43k
2022: €21k
2023: €36k
2024: €44k
2018 → 2025
Working capital
€-19k
2024 · €51k
2018: €45k
2019: €71k
2020: €34k
2021: €25k
2022: €30k
2023: €37k
2024: €51k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€73k-€74k▲ 1.4%€80k▲ 8.4%€84k▲ 4.4%€21k▼ 74.8%
Operating result€57k-€31k▼ 45.6%€49k▲ 57.3%€57k▲ 17.8%€77k▲ 34.7%
Net result€43k-€21k▼ 51.4%€36k▲ 72.5%€44k▲ 20.2%€60k▲ 37.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 35% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €148k
Fixed assets
€51k ▲ 52.8%
Current assets
€97k ▼ 4.5%
Equity and liabilities €148k
Equity
€21k ▼ 74.8%
Debt
€127k ▲ 148%
Debt's share of the balance-sheet total rises from 37.9% to 85.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€97k▲
2024 · €72k
Cash flow
€80k▲
2024 · €59k
Current ratio
0.83▼
2024 · 1.99
Quick ratio
0.78▼
2024 · 1.85
Debt to equity
6.00▲
2024 · 0.61
ROE
283.0%▲
2024 · 51.9%
ROA
40.4%▲
2024 · 32.3%
Interest coverage
789.81▲
2024 · 235.84
Debt ≤ 1 year
€116k▲
2024 · €51k
Debt > 1 year
€11k▲
2024 · €0
Income taxes
€18k▲
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 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€135k€148k▲
Fixed assets21/28€33k€51k▲
Tangible fixed assets22/27€33k€51k▲
Land and buildings22€4k€3k▼
Plant, machinery and equipment23€5k€3k▼
Furniture and vehicles24€15k€35k▲
Other tangible fixed assets26€8k€10k▲
Current assets29/58€102k€97k▼
Stocks and contracts in progress3€7k€6k▼
Stocks30/36€7k€6k▼
Amounts receivable within one year40/41€1k€4k▲
Trade receivables40€1k€4k▲
Other amounts receivable41€0€200▲
Current investments50/53€50k€55k▲
Cash at bank and in hand54/58€42k€31k▼
Deferred charges and accrued income490/1€812€666▼
Equity and liabilities
Total equity and liabilities10/49€135k€148k▲
Equity10/15€84k€21k▼
Contributions10/11€21k€21k=
Reserves13€19k€140▼
Distributable reserves133€19k€140▼
Profit (loss) carried forward14€44k€0▼
Amounts payable17/49€51k€127k▲
Amounts payable after more than one year17€0€11k▲
Financial debts170/4€0€11k▲
Amounts payable within one year42/48€51k€116k▲
Current portion of amounts payable after more than one year42€3k€7k▲
Trade debts44€4k€4k▼
Suppliers440/4€4k€4k▼
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€3k€3k▼
Remuneration and social security454/9-€200
Other amounts payable47/48€40k€102k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€20k▲
Other operating charges640/8€2k€924▼
Gross operating margin9900€74k€98k▲
Operating profit (loss)9901€57k€77k▲
Financial income75/76B€1k€682▼
Recurring financial income75€1k€682▼
Financial charges65/66B€307€123▼
Recurring financial charges65€307€123▼
Profit (loss) for the period before taxes9903€58k€78k▲
Income taxes67/77€15k€18k▲
Profit (loss) for the period9904€44k€60k▲
Profit (loss) for the period to be appropriated9905€44k€60k▲
Appropriation of the result
Profit (loss) to be appropriated9906€80k€103k▲
Profit (loss) brought forward from the previous period14P€36k€44k▲
Transfer from equity791/2€40k€63k▲
Transfer to equity691/2€36k€44k▲
To other reserves6921€36k€44k▲
Profit to be distributed694/7€40k€123k▲
Return on contributions (dividend)694€40k€123k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €60k ▲37.4%
Operating result €77k, net result €60k, both a record.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €16k ▼37.6%
Net result drops to €16k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 17.06
Current ratio from 3.29 to 17.06; short-term debt falls from €20k to €4k.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Antwerpen · 1 establishment unit since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Arthur Goemaerelei 212018 AntwerpenGround area
192 m²
Building footprint
100 m²
Volume, LiDAR
1,141 m³
Parcel 11810K1898/00M002, Flanders · tallest building 16.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
VULPES PARTNERS
since 20152.245.090.437
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1898/00M002 | Flanders | 192 m² | 1 · 100 m² | 16.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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JDBP
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Of 29,996 companies in sector 62200 we hold annual accounts for 18,393. 13,200 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-08-2015
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
86995Nutrition and dietetics services
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.