Result
€704,720 ▼ 41.3%
The result fell in 2025 from €1.2m to €704,720.
Vulpia Care
Lifetime
18 annual accounts with figures on one time axispeak €10.3m (2025)
€10.3m▲ 28.9%
lowest -€4.0m (2016)
€704,720▼ 41.3%
peak €26.5m (2022)
€25.2m▲ 2.9%
€26.7m▲ 23.1%
peak 40.5 FTE (2025)
40.5 FTE▲ 16.7%
Board11 names since 2016
8 directorsVULPIA NV and 7 others
Owners2 names in the annual accounts
100%Luc Van Moerzeke
Documentsfilings and deeds
24-07-20267 days before the deadline
2025financial year
Turnover from €8.0m to €10.3mResult from €1.2m to €704,720Staff from 34.7 FTE to 40.5 FTEMerger proposal: Vulpia Care takes over Semajuli 21-11Capital decrease of €2,043,000 to €23,000,000 02-01Debts from €21.7m to €26.7m
Key points
from the 2025 annual accountsInvestments
€3.3m 6.2 × depreciation
Green is investment, beige is depreciation.
Payment terms
50 days to suppliers
Vulpia Care pays its suppliers 6 days earlier than in 2024. Customers pay 105 days earlier.
Filings
18 annual accounts since 2008
The last five annual accounts were filed 5 to 25 days before the end of the period.
At the same address
19 companies
Board
2 joined · 1 left
Board changed. Latest change 21-01-2026 · 7 in office.
Checked score
96
Excellent
Financially stronger than 68% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025highest value
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Founded in 2006
Size: turnover €10.3m, 40.5 FTE, total assets €51.9m
Equity €25.2m (48.5% of total assets)
Legal form: public limited company
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 68, small). It does better than 67% of them on solvency, 82% on liquidity, 53% on profitability and 71% 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 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 6,049 companies had the same profile as Vulpia Care has now. Each dot stands for 16 companies, two years later.
95.9%
were still trading
3.6%
stopped another way
0.4%
went bankrupt
That fits the bankruptcy probability of Vulpia Care itself: 0.1% 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 6,049 companies, not a prediction for Vulpia Care. 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 €1,000,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 7.5 (6.17 in 2024), above the usual 1.5. Short-term debt is 8.4% and cash 5% of total assets. However, 51.5% 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
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 days early
2024
14 days early
2023
14 days early
2022
5 days early
2021
25 days early
2020
15 days early
2019
4 days early
← 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 12 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 18 July (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
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
and 2 others
- Luc Van Moerzeke 100%annual accounts 2025
Shares in 2 companies, MONTERRY and Sense Real Estate
Board & ownershipRecent changes
1 statutory auditor appointed, 3 directors reappointed
Reappointments: Adax 68 BV, LOGIKA BV and Green Tara Group · Permanent representatives: Adrienne Axler, Patrick De Vos, Luc Van Moerzeke, Jo Van Baelen and Michael De Meyer · Appointment: Deloitte Bedrijfsrevisoren (statutory auditor) · General meeting of 30-06-2026 · Gazette deed
Merger: Vulpia Care takes over SEMAJULI
General meeting of 29-12-2025 · Gazette deed
3 directors appointed, 1 resignation
Appointments: Akeley, Trees Paelinck and Adax 68 (chair of the board) · Permanent representatives: Jan Van Acoleyen, Adriena Axler and Michael De Meyer · Resignation: Human Invest · General meeting of 19-12-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0885883479
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Vulpia Care Brasschaat | €10.3m | 12.2% | 48.5% | 40.5 |
| LOCK'O Gembloux | €11.0m | 93.0% | 12.2% | 28.8 |
| B & R Arendonk | €15.6m | 12.8% | 30.2% | 47.4 |
| WOONKADE RUPELSTREEK Boom | €10.3m | -17.8% | 11.5% | 36.9 |
| KIEVITPLEIN D-E-F Brussels | €9.4m | 64.5% | 48.3% | - |
| Corda Campus Hasselt | €18.2m | 25.7% | 39.9% | 17.8 |
| Moortgat Real Estate Puurs-Sint-Amands | €6.5m | 9.9% | 12.2% | - |
Grey: the largest companies of the sector (real estate (NACE 68)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Vulpia Care: renting and operating of own or leased non-residential real estate, excluding land (NACE 68203). They are comparable in size and age: total assets between €69m and €159m, founded between 1994 and 2015.
Official details
Source: KBO- Status
- Active since 22-12-2006Normal situation
- Registered office
- 20 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Renting and operating of own or leased non-residential real estate, excluding landNACE 68203and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.159.040.0542930 Brasschaat, since 22-12-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 08-01-2026
Annual accounts 2025
- €51.9m▲ 12.4%
- Employeeson 31-12-2025
- 52▲ 48.6%
- Filing
- Filed on 24-07-2026, 7 days before the end of the filing period
Insights on Vulpia Care
Vulpia Care has existed since 2006. Turnover fell from €6.8m in 2012 to €1.7m in 2014 and staff from 13.2 to 5.9 full-time equivalents.
Turnover has grown every year since 2021.
In August 2022, the Official Gazette published the appointment of VULPIA NV as managing director.
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 Vulpia Care
- What is the company number of Vulpia Care?
- The company number of Vulpia Care is 0885.883.479. The VAT number is the same number with BE in front: BE 0885.883.479.
- Where is Vulpia Care based?
- The registered office is at Ruiterijschool 6, 2930 Brasschaat.Company details
- What does Vulpia Care do?
- According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
- What is the legal form of Vulpia Care?
- Vulpia Care is a public limited company (NV).
- When was Vulpia Care founded?
- Vulpia Care was founded on 22-12-2006.
- Is Vulpia Care still active?
- Yes, Vulpia Care is an active enterprise in the KBO register.
- How many employees does Vulpia Care have?
- Vulpia Care had an average of 40.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Vulpia Care fall under?
- In its 2025 annual accounts, Vulpia Care states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of Vulpia Care?
- The turnover of Vulpia Care was €10.3m in financial year 2025, according to the filed annual accounts.
- Is Vulpia Care profitable?
- In financial year 2025, Vulpia Care made a profit of €704,720.
- Where can I find the annual accounts of Vulpia Care?
- Vulpia Care filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Vulpia Care due?
- Vulpia Care must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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