VULSTEKE & VERBEKE
ActiveVULSTEKE & VERBEKE has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.45M and a net result of €202k. Equity is growing by ~14.7% per year across the filed fiscal years. Its solvency ranks better than 51% of 912 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+2
Solvency63▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 1.62 against 1.62 in 2024; short-term debt: 22.1% and cash: 7.5% of total assets), but 61.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Sector 77
higher
← 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
38.1%
Return on assets
5.3%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
32 d early
2022
10 d late
2021
1 d early
2020
147 d early
2019
83 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
20-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.45M▼ 1.8%
2024 · €1.47M
2018: €454k
2019: €541k
2020: €739k
2021: €1.09M
2022: €1.15M
2023: €1.33M
2024: €1.47M
2018 → 2025
Total assets
€3.79M▼ 4.8%
2024 · €3.98M
2018: €2.52M
2019: €3.70M
2020: €3.68M
2021: €4.44M
2022: €3.93M
2023: €4.05M
2024: €3.98M
2018 → 2025
Net result
€202k▲ 42.7%
2024 · €142k
2018: €64k
2019: €87k
2020: €199k
2021: €355k
2022: €57k
2023: €178k
2024: €142k
2018 → 2025
Working capital
€516k▼ 3.7%
2024 · €536k
2018: €33k
2019: €-960k
2020: €11k
2021: €130k
2022: €215k
2023: €374k
2024: €536k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.09M-€1.15M▲ 5.2%€1.33M▲ 15.4%€1.47M▲ 10.7%€1.45M▼ 1.8%
Operating result€470k-€88k▼ 81.3%€317k▲ 260%€271k▼ 14.5%€314k▲ 16.0%
Net result€355k-€57k▼ 83.9%€178k▲ 211%€142k▼ 20.1%€202k▲ 42.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 16% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.79M
Fixed assets
€2.44M▼ 5.5%
Current assets
€1.35M▼ 3.6%
Equity and liabilities €3.79M
Equity
€1.45M▼ 1.8%
Provisions
€1k▼ 59.8%
Debt
€2.35M▼ 6.5%
The debt ratio falls from 63.0% to 61.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€801k▲
2024 · €733k
Cash flow
€689k▲
2024 · €604k
Solvency
38.1%▲
2024 · 36.9%
Current ratio
1.62▼
2024 · 1.62
Quick ratio
1.60▲
2024 · 1.59
Debt / equity
1.62▼
2024 · 1.71
ROE
14.0%▲
2024 · 9.6%
ROA
5.3%▲
2024 · 3.6%
Interest coverage
10.41▲
2024 · 7.46
Debt
€2.35M▼
2024 · €2.51M
Debt ≤ 1 year
€839k▼
2024 · €869k
Debt > 1 year
€1.43M▼
2024 · €1.57M
Income taxes
€57k▼
2024 · €57k
Staff costs
€596k▲
2024 · €573k
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€3.98M€3.79M▼
Fixed assets21/28€2.58M€2.44M▼
Tangible fixed assets22/27€2.58M€2.43M▼
Land and buildings22€1.74M€1.59M▼
Plant, machinery and equipment23€211k€187k▼
Furniture and vehicles24€53k€46k▼
Leasing and similar rights25€572k€607k▲
Financial fixed assets28€2k€5k▲
Current assets29/58€1.41M€1.35M▼
Amounts receivable after more than one year29€528k€320k▼
Other amounts receivable291€528k€320k▼
Stocks and contracts in progress3€22k€9k▼
Stocks30/36€22k€9k▼
Amounts receivable within one year40/41€612k€638k▲
Trade receivables40€590k€619k▲
Other amounts receivable41€21k€19k▼
Cash at bank and in hand54/58€163k€285k▲
Deferred charges and accrued income490/1€80k€103k▲
Equity and liabilities
Total equity and liabilities10/49€3.98M€3.79M▼
Equity10/15€1.47M€1.45M▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€1.41M€1.38M▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€67k€61k▼
Distributable reserves133€1.33M€1.31M▼
Profit (loss) carried forward14-€0
Investment grants15€2k€2k=
Provisions and deferred taxes16€3k€1k▼
Deferred taxes168€3k€1k▼
Amounts payable17/49€2.51M€2.35M▼
Amounts payable after more than one year17€1.57M€1.43M▼
Financial debts170/4€1.57M€1.43M▼
Amounts payable within one year42/48€869k€839k▼
Current portion of amounts payable after more than one year42€391k€412k▲
Financial debts43€45k€75k▲
Credit institutions430/8€45k€75k▲
Trade debts44€384k€270k▼
Suppliers440/4€384k€270k▼
Taxes, remuneration and social security45€50k€81k▲
Taxes450/3€194€25k▲
Remuneration and social security454/9€49k€56k▲
Accrued charges and deferred income492/3€70k€80k▲
Income statement
Code20242025
Non-recurring operating income76A€45k€65k▲
Remuneration, social security and pensions62€573k€596k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€462k€487k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-3k€20▲
Other operating charges640/8€75k€88k▲
Non-recurring operating charges66A-€30k
Gross operating margin9900€1.38M€1.51M▲
Operating profit (loss)9901€271k€314k▲
Financial income75/76B€25k€20k▼
Recurring financial income75€25k€20k▼
Financial charges65/66B€98k€77k▼
Recurring financial charges65€98k€77k▼
Profit (loss) for the period before taxes9903€197k€257k▲
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€57k€57k▼
Profit (loss) for the period9904€142k€202k▲
Transfer from tax-exempt reserves789€6k€6k=
Profit (loss) for the period to be appropriated9905€148k€208k▲
Appropriation of the result
Profit (loss) to be appropriated9906€148k€208k▲
Transfer from equity791/2-€228k
Transfer to equity691/2€148k€208k▲
To other reserves6921€148k€208k▲
Profit to be distributed694/7-€228k
Return on contributions (dividend)694-€228k
Social balance
Average headcount (FTE)908710.38.4▼
The notes to these accounts (31 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
10-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 10 days late
2022
30-09
Financial
Weakest financial yearnet €57k ▼83.9%
Net result drops to €57k, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2018net €355k ▲78.8%
Operating result €470k, net result €355k, both a record.
30-09
Financial
Equity above €1MEq €1.09M ▲48%
4 profitable years in a row build equity to €1.09M.
2020
04-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-09
Financial
Liquidity doublescurrent ratio 1.01
Current ratio from 0.44 to 1.01; short-term debt falls from €1.72M to €868k.
07-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Equity above €500kEq €541k ▲19%
2 profitable years in a row build equity to €541k.
2018
05-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
23-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
20-12
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
6 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, Poperinge · 1 establishment unit since 2005
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.
Groot-Brittanniëlaan 78970 PoperingeGround area
1.4 ha
Building footprint
2,484 m²
Volume, LiDAR
15,241 m³
Parcel 33021E0234/00K000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VULSTEKE en VERBEKE
since 20052.145.487.669
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33021E0234/00K000 | Flanders | 1.4 ha | 2 · 2,484 m² | 11.2 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 5,709 EUR awarded · 4,506 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 521 EUR |
| 2024 | 1 | 2,546 EUR | 1,782 EUR |
| 2023 | 2 | 2,796 EUR | 1,836 EUR |
| 2022 | 2 | 367 EUR | 367 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Vlaams opleidingsverlof (VOV)
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Of 361 companies in sector 77120 we hold annual accounts for 233. 142 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-02-1997
Fiscal year end30-09
Activities, NACEBEL
38219Waste collection, recovery and disposal activities
38330Waste collection, recovery and disposal activities
71210
77120Rental and leasing activities
90021
37200
38210Materials recovery from waste
38323Waste collection, recovery and disposal activities
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.