VULSTEKE RECYCLING
The computed 12-month bankruptcy probability of VULSTEKE RECYCLING is 0.3% (very low). The 2025 annual accounts show equity of €2.93M and a net result of €245k. Equity is growing by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 50% of 56 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €2.93M |
| Net result | €245k |
| Staff (FTE) | 14.5 |
| Better than sector | 50% |
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 36.0% | 35.8% | |
| Net result | €245k | €11k | |
| Equity | €2.93M | €740k | |
| Gross operating margin | €2.21M | €45k | |
| Staff costs | €948k | €2.90M |
Show 11 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €1.17M |
| Net profit | €245k |
| Cash flow | €1.07M |
| Staff costs | €948k |
| Income taxes | €71k |
| Dividends | - |
| Total assets | €8.14M |
| Equity | €2.93M |
| Debt | €5.21M |
| of which ≤ 1y | €3.07M |
| of which > 1y | €1.96M |
| Working capital | €52k |
| Employees (FTE) | 14.5 |
| 2025 | |
|---|---|
| Current ratio | 1.02 |
| Quick ratio | 0.95 |
| Working capital ratio | 0.6% |
| Solvency | 36.0% |
| Debt / equity | 1.78 |
| Long-term debt ratio | 0.67 |
| Interest coverage | 20.30 |
| Gross margin | - |
| Net margin | - |
| ROA | 3.0% |
| ROE | 8.4% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (26 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €8.14M |
| Fixed assets | 21/28 | €5.02M |
| Intangible fixed assets | 21 | €4k |
| Tangible fixed assets | 22/27 | €5.01M |
| Current assets | 29/58 | €3.13M |
| Stocks & contracts in progress | 3 | €220k |
| Amounts receivable within one year | 40/41 | €1.95M |
| Investments | 50/53 | €264k |
| Cash & bank | 54/58 | €643k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €8.14M |
| Equity | 10/15 | €2.93M |
| Contributions / capital | 10/11 | €70k |
| Reserves | 13 | €2.86M |
| Provisions & deferred taxes | 16 | €0 |
| Amounts payable | 17/49 | €5.21M |
| Amounts payable after one year | 17 | €1.96M |
| Amounts payable within one year | 42/48 | €3.07M |
| Trade debts payable within one year | 44 | €2.39M |
| Income statement | ||
| Gross operating margin | 9900 | €2.21M |
| Operating result | 9901 | €342k |
| Financial income | 75 | €23k |
| Financial charges | 65 | €58k |
| Result before taxes | 9903 | €311k |
| Income taxes | 67/77 | €71k |
| Net result for the period | 9904 | €245k |
| Result to be appropriated | 9905 | €245k |
-
Current01-11-2025 → present
-
Current17-06-2011 → present
3 events
- 15-04-2023 Mandate renewed· Director
- 15-04-2017 Mandate renewed· Director
- 17-06-2011 Appointed· Director
-
Current17-06-2011 → present
5 events
- 15-04-2023 Mandate renewed· Director
- 15-04-2017 Mandate renewed· Director
- 15-04-2017 Mandate renewed· Managing director
- 17-06-2011 Appointed· Director
- 17-06-2011 Appointed· Managing director
Former directors (1)
-
Former17-06-2011 → 01-11-2025
4 events
- 01-11-2025 Resigned· Director
- 15-04-2023 Mandate renewed· Director
- 15-04-2017 Mandate renewed· Director
- 17-06-2011 Appointed· Director
| NACE primary | Terugwinning van materialen uit afval(38210) |
| Legal form | Public limited company(014) |
| Incorporation | 15-10-2004 |
| Status | Active |
| Postal code | 8840 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36019A0843/00N002 | Flanders | 3.5 ha | 1 · 1,755 m² | 12.2 m · 2 fl. |
| 36019A0846/02H000 | Flanders | 1,103 m² | - | - |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
12-12-2025 1 director appointed, 1 resigning, 3 reappointed
- Vulsteke Laurens, Bestuurder
- Boutelegier Anne Marie, Bestuurder
- Vulsteke Frederik, Bestuurder
- Boutelegier Anne Marie, Bestuurder
- Vulsteke Martin, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Boutelegier Anne Marie",
"address": null,
"birth_date": null
},
"effective_date": "2025-11-01",
"evidence_quote": "De algemene vergadering neemt kennis van het ontslag als bestuurder, met ingang van 1 november 2025 van: -Mevrouw Boutelegier Anne Marie, wonende te leperstraat 79, 8610 Kortemark."
},
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Vulsteke Frederik",
"address": null,
"birth_date": null
},
"effective_date": "2023-04-15",
"evidence_quote": "Werd herbenoemd tot bestuurder met ingang van 15 april 2023 voor een periode van 6 jaar, tot aan de jaarvergadering te houden in 2029: -De heer Vulsteke Frederik, wonende te Sint Jansstraat 124, 8840 Staden"
},
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Boutelegier Anne Marie",
"address": null,
"birth_date": null
},
"effective_date": "2023-04-15",
"evidence_quote": "Werd herbenoemd tot bestuurder met ingang van 15 april 2023 voor een periode van 6 jaar, tot aan de jaarvergadering te houden in 2029: -Mevrouw Boutelegier Anne Marie, wonende te leperstraat 79, 8610 Kortemark"
},
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Vulsteke Martin",
"address": null,
"birth_date": null
},
"effective_date": "2023-04-15",
"evidence_quote": "Werd herbenoemd tot bestuurder met ingang van 15 april 2023 voor een periode van 6 jaar, tot aan de jaarvergadering te houden in 2029: -De heer Vulsteke Martin, wonende te leperstraat 79, 8610 Kortemark."
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Vulsteke Laurens",
"address": null,
"birth_date": null
},
"effective_date": "2025-11-01",
"evidence_quote": "Bijkomend wordt nog een nieuwe bestuurder benoemd met ingang van 1/11/2025 voor een periode van 6 jaar, tot aan de jaarvergadering te houden in 2031: -De heer Vulsteke Laurens, wonende te Akkerstraat 4, 8840 Staden."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0867.862.760",
"name_full": "VULSTEKE RECYCLING",
"legal_form": "NV"
}
}12-03-2018 4 reappointed
- Martin Vulsteke, Bestuurder
- Frederik Vulsteke, Bestuurder
- Anne Marie Boutelegier, Bestuurder
- Martin Vulsteke, Gedelegeerd bestuurder
Technical details
{
"events": [
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Martin Vulsteke",
"address": null,
"birth_date": null
},
"effective_date": "2017-04-15",
"evidence_quote": "De heren Martin Vulsteke en Frederik Vulsteke en mevrouw Anne Marie Boutelegier worden herbenoemd tot bestuurder van de vennootschap en dit voor een periode van 6 jaar, zijnde tot 15/04/2023."
},
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Frederik Vulsteke",
"address": null,
"birth_date": null
},
"effective_date": "2017-04-15",
"evidence_quote": "De heren Martin Vulsteke en Frederik Vulsteke en mevrouw Anne Marie Boutelegier worden herbenoemd tot bestuurder van de vennootschap en dit voor een periode van 6 jaar, zijnde tot 15/04/2023."
},
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Anne Marie Boutelegier",
"address": null,
"birth_date": null
},
"effective_date": "2017-04-15",
"evidence_quote": "De heren Martin Vulsteke en Frederik Vulsteke en mevrouw Anne Marie Boutelegier worden herbenoemd tot bestuurder van de vennootschap en dit voor een periode van 6 jaar, zijnde tot 15/04/2023."
},
{
"kind": "director_renew",
"role": "gedelegeerd_bestuurder",
"person": {
"rrn": null,
"name": "Martin Vulsteke",
"address": null,
"birth_date": null
},
"effective_date": "2017-04-15",
"evidence_quote": "De heer Martin Vulsteke wordt herbenoemd tot gedelegeerd bestuurder van de vennootschap en dit voor een periode van 6 jaar, zijnde tot 15/04/2023."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0867.862.760",
"name_full": "VULSTEKE RECYCLING",
"legal_form": "NV"
}
}17-06-2011 Transaction in capital or shares
Technical details
{
"events": [],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0867.862.760",
"name_full": "VULSTEKE RECYCLING",
"legal_form": "NV"
}
}| Legal nameNL | VULSTEKE RECYCLING |