VULPIA WALLONIE
ActiveVULPIA WALLONIE has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €972k and a net result of €-622k. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 14% of 461 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▼-5
Solvency30▼-2
Growth54▼-1
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity short (current ratio 0.93 against 0.89 in 2024; short-term debt: 68% and cash: 4.1% of total assets), and 94.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Ten 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 87
Relative position
BE, all sectors
reference
Sector 87
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
5.1%
Return on assets
-3.3%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 461 sector peers (2025).
NBB · sector comparisonPosition among 461 sector peers
Solvency
better than 14%
← 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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
14 d early
2023
14 d early
2022
5 d early
2021
25 d early
2020
15 d early
2019
9 d early
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€38.44M▲ 3.4%
2024 · €37.18M
2018: €23.65M
2020: €26.55M
2021: €25.31M
2023: €34.38M
2024: €37.18M
2018 → 2025
EBIT margin
-1.0%▼ 1.6pp
2024 · 0.6%
2018: 5.5%
2020: 0.5%
2021: 3.8%
2023: 3.8%
2024: 0.6%
2018 → 2025
Net result
€-622k
2024 · €75k
2018: €1.13M
2020: €-47k
2021: €815k
2023: €1.27M
2024: €75k
2018 → 2025
Working capital
€-898k▲ 49.7%
2024 · €-1.78M
2018: €-1.80M
2020: €-2.70M
2021: €-1.58M
2023: €-1.50M
2024: €-1.78M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€26.55M-€25.31M▼ 4.7%€34.38M▲ 35.9%€37.18M▲ 8.1%€38.44M▲ 3.4%
Equity€1.28M-€2.09M▲ 63.7%€1.16M▼ 44.7%€1.59M▲ 37.7%€972k▼ 39.0%
Operating result€132k-€955k▲ 624%€1.31M▲ 37.5%€212k▼ 83.9%€-379k
Net result€-47k-€815k€1.27M▲ 55.6%€75k▼ 94.1%€-622k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €379k after €212k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19.00M
Fixed assets
€6.99M▼ 5.7%
Current assets
€12.02M▼ 14.7%
Equity and liabilities €19.00M
Equity
€972k▼ 39.0%
Debt
€18.03M▼ 9.4%
The debt ratio rises from 92.6% to 94.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.29M▼
2024 · €1.79M
Cash flow
€1.04M▼
2024 · €1.65M
Solvency
5.1%▼
2024 · 7.4%
Current ratio
0.93▲
2024 · 0.89
Quick ratio
0.93▲
2024 · 0.89
Debt / equity
18.56▲
2024 · 12.49
ROE
-64.0%▼
2024 · 4.7%
ROA
-3.3%▼
2024 · 0.4%
Interest coverage
12.09▼
2024 · 13.12
Debt
€18.03M▼
2024 · €19.90M
Debt ≤ 1 year
€12.91M▼
2024 · €15.87M
Debt > 1 year
€3.49M▲
2024 · €2.54M
Income taxes
€3k
Staff costs
€27.97M▲
2024 · €26.61M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€21.49M€19.00M▼
Fixed assets21/28€7.41M€6.99M▼
Intangible fixed assets21€2.77M€1.73M▼
Tangible fixed assets22/27€4.65M€5.26M▲
Plant, machinery and equipment23€681k€553k▼
Furniture and vehicles24€1.24M€1.00M▼
Other tangible fixed assets26€2.72M€3.70M▲
Current assets29/58€14.08M€12.02M▼
Amounts receivable after more than one year29€2.77M-
Other amounts receivable291€2.77M-
Amounts receivable within one year40/41€8.97M€11.13M▲
Trade receivables40€7.27M€8.15M▲
Other amounts receivable41€1.70M€2.98M▲
Current investments50/53€60k-
Cash at bank and in hand54/58€2.03M€771k▼
Deferred charges and accrued income490/1€252k€117k▼
Equity and liabilities
Total equity and liabilities10/49€21.49M€19.00M▼
Equity10/15€1.59M€972k▼
Profit (loss) carried forward14€1.59M€972k▼
Amounts payable17/49€19.90M€18.03M▼
Amounts payable after more than one year17€2.54M€3.49M▲
Financial debts170/4€2.54M€3.49M▲
Leasing and similar obligations172€9k€4k▼
Credit institutions173€1.38M€1.10M▼
Other loans174€1.15M€2.38M▲
Amounts payable within one year42/48€15.87M€12.91M▼
Current portion of amounts payable after more than one year42€448k€381k▼
Financial debts43€2.33M€1.81M▼
Credit institutions430/8€1.79M€1.81M▲
Other loans439€544k-
Trade debts44€2.76M€1.56M▼
Suppliers440/4€2.76M€1.56M▼
Advances received on contracts in progress46€2.30M€2.24M▼
Taxes, remuneration and social security45€7.91M€6.79M▼
Taxes450/3€1.48M€1.90M▲
Remuneration and social security454/9€6.43M€4.90M▼
Accrued charges and deferred income492/3€1.49M€1.63M▲
Income statement
Code20242025
Operating income70/76A€43.87M€45.41M▲
Turnover70€37.18M€38.44M▲
Other operating income74€410k€192k▼
Non-recurring operating income76A€2k€35k▲
Operating charges60/66A€43.65M€45.78M▲
Goods for resale, raw materials and consumables60€3.69M€3.68M▼
Purchases600/8€3.69M€3.68M▼
Services and other goods61€11.44M€12.23M▲
Remuneration, social security and pensions62€26.61M€27.97M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.58M€1.67M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€11k€-31k▼
Other operating charges640/8€323k€74k▼
Non-recurring operating charges66A-€203k
Operating profit (loss)9901€212k€-379k▼
Financial income75/76B€172k€59k▼
Recurring financial income75€172k€59k▼
Income from current assets751€163k€51k▼
Other financial income752/9€9k€8k▼
Financial charges65/66B€308k€300k▼
Recurring financial charges65€308k€300k▼
Debt charges650€137k€107k▼
Other financial charges652/9€172k€194k▲
Profit (loss) for the period before taxes9903€75k€-620k▼
Income taxes67/77-€3k
Taxes670/3-€3k
Profit (loss) for the period9904€75k€-622k▼
Profit (loss) for the period to be appropriated9905€75k€-622k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.23M€972k▼
Profit (loss) brought forward from the previous period14P€1.16M€1.59M▲
From contributions791€361k-
Social balance
Average headcount (FTE)9087423.7431.2▲
The notes to these accounts (81 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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-622k ▼927%
Net result drops to €-622k, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €1.27M ▲55.6%
Operating result €1.31M, net result €1.27M, both a record.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €815k
Net result €815k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.09M ▲63.7%
Equity rises from €1.28M to €2.09M.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €1MEq €1.28M ▲75.9%
Equity rises from €728k to €1.28M.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Liège · 6 establishment units 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.
Thier de la Chartreuse 474020 LiègeGround area
5.4 ha
Building footprint
9,069 m²
Volume, LiDAR
86,191 m³
5 parcels, Wallonia · tallest building 20.0 m, ±6 floors. Linked by address, not a title deed.
6 establishment units
Résidence Franki
since 20152.238.945.387
Ferme Blanche
since 20152.249.082.184
La Chartreuse
since 20162.253.378.690
Bois de Bernihé
since 20162.257.033.909
Résidence Véronique
since 20182.268.447.245
Résidence Le Douaire
since 20192.296.019.890
5 parcels
Wallonia
5
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62807A1206/00F002 | Wallonia | 2.1 ha | 1 · 3,118 m² | 20.0 m · 4 fl. |
| 91010A0175/00D000 | Wallonia | 1.5 ha | 1 · 1,217 m² | - |
| 56302D1098/00L000 | Wallonia | 1.0 ha | 1 · 1,218 m² | 19.1 m · 2 fl. |
| 64061A0368/00L000 | Wallonia | 5,275 m² | 1 · 1,692 m² | 14.9 m · 3 fl. |
| 62817B0326/00V006 | Wallonia | 2,787 m² | 1 · 1,824 m² | 19.1 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 4
5 of 5 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
6 sitesAnderlues2.296.019.890
Libramont-Chevigny2.257.033.909
Liège2.238.945.387
Liège2.253.378.690
Show 2 more sites
Remicourt2.249.082.184
Somme-Leuze2.268.447.245
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Of 322 companies in sector 87101 we hold annual accounts for 235. 164 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded03-12-2014
Fiscal year end31-12
Activities, NACEBEL
87101Residential care activities
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:04 340 50 13