BULCON
ActiveThe computed 12-month bankruptcy probability of BULCON is 1.8% (moderate). The 2025 annual accounts show equity of €283k and a net result of €99k. Equity is growing by ~36.7% per year across the filed fiscal years. Its solvency ranks better than 25% of 27407 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency29▼-25
Growth78=
Stability100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity short (current ratio 0.8 against 1.16 in 2024), and 76.5% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Sector 43
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
23.5%
Return on assets
8.2%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 27407 sector peers (2025).
NBB · sector comparisonPosition among 27407 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 6 filingsDeviation from the deadline
2025
26 d late
2024
6 d early
2023
37 d early
2022
5 d early
2021
72 d early
2020
40 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€283k▲ 24.7%
2024 · €227k
2020: €37k
2021: €67k
2022: €115k
2023: €176k
2024: €227k
2020 → 2025
Total assets
€1.21M▲ 68.5%
2024 · €716k
2020: €50k
2021: €95k
2022: €154k
2023: €233k
2024: €716k
2020 → 2025
Net result
€99k▲ 8.3%
2024 · €91k
2020: €34k
2021: €29k
2022: €56k
2023: €81k
2024: €91k
2020 → 2025
Working capital
€-28k
2024 · €39k
2020: €25k
2021: €53k
2022: €97k
2023: €162k
2024: €39k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€67k-€115k▲ 73.0%€176k▲ 53.1%€227k▲ 28.9%€283k▲ 24.7%
Operating result€40k-€74k▲ 85.7%€108k▲ 46.2%€124k▲ 14.7%€156k▲ 25.4%
Net result€29k-€56k▲ 92.6%€81k▲ 44.6%€91k▲ 12.1%€99k▲ 8.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 25% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.21M
Fixed assets
€1.09M▲ 155%
Current assets
€112k▼ 61.0%
Equity and liabilities €1.21M
Equity
€283k▲ 24.7%
Debt
€922k▲ 88.9%
The debt ratio rises from 68.2% to 76.5%: debt grows faster than equity.
Key figures and ratios
EBITDA
€192k▲
2024 · €133k
Cash flow
€134k▲
2024 · €100k
Solvency
23.5%▼
2024 · 31.8%
Current ratio
0.80▼
2024 · 1.16
Quick ratio
0.80▼
2024 · 1.16
Debt / equity
3.25▲
2024 · 2.15
ROE
34.8%▼
2024 · 40.0%
ROA
8.2%▼
2024 · 12.7%
Interest coverage
7.16▼
2024 · 20.22
Debt
€922k▲
2024 · €488k
Debt ≤ 1 year
€140k▼
2024 · €248k
Debt > 1 year
€777k▲
2024 · €240k
Income taxes
€33k▲
2024 · €29k
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€716k€1.21M▲
Fixed assets21/28€429k€1.09M▲
Tangible fixed assets22/27€429k€1.09M▲
Land and buildings22€414k€1.06M▲
Plant, machinery and equipment23€3k€16k▲
Furniture and vehicles24€2k€9k▲
Other tangible fixed assets26€9k€7k▼
Current assets29/58€287k€112k▼
Amounts receivable within one year40/41€200k€71k▼
Trade receivables40€159k€33k▼
Other amounts receivable41€41k€37k▼
Cash at bank and in hand54/58€86k€38k▼
Deferred charges and accrued income490/1€886€3k▲
Equity and liabilities
Total equity and liabilities10/49€716k€1.21M▲
Equity10/15€227k€283k▲
Contributions10/11€3k€3k=
Reserves13€224k€280k▲
Distributable reserves133€224k€280k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€488k€922k▲
Amounts payable after more than one year17€240k€777k▲
Financial debts170/4€240k€777k▲
Amounts payable within one year42/48€248k€140k▼
Current portion of amounts payable after more than one year42€30k€31k▲
Trade debts44€155k€36k▼
Suppliers440/4€155k€36k▼
Taxes, remuneration and social security45€29k€39k▲
Taxes450/3€29k€39k▲
Other amounts payable47/48€34k€35k▲
Accrued charges and deferred income492/3€158€6k▲
Income statement
Code20242025
Remuneration, social security and pensions62€1k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€36k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€137k€194k▲
Operating profit (loss)9901€124k€156k▲
Financial income75/76B€2k€2k▼
Recurring financial income75€2k€2k▼
Financial charges65/66B€7k€27k▲
Recurring financial charges65€7k€27k▲
Profit (loss) for the period before taxes9903€120k€131k▲
Income taxes67/77€29k€33k▲
Profit (loss) for the period9904€91k€99k▲
Profit (loss) for the period to be appropriated9905€91k€99k▲
Appropriation of the result
Profit (loss) to be appropriated9906€91k€99k▲
Transfer to equity691/2€51k€56k▲
To other reserves6921€51k€56k▲
Profit to be distributed694/7€40k€43k▲
Return on contributions (dividend)694€40k€43k▲
The notes to these accounts (7 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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-12
Financial
Highest result since 2020net €99k ▲8.3%
Operating result €156k, net result €99k, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200kEq €227k ▲28.9%
5 profitable years in a row build equity to €227k.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €176k ▲53.1%
4 profitable years in a row build equity to €176k.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €115k ▲73%
3 profitable years in a row build equity to €115k.
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €29k ▼15.5%
Net result drops to €29k, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Wingene · 1 establishment unit since 2020
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.
Schoolstraat 678750 WingeneGround area
1,316 m²
Building footprint
39 m²
Volume, LiDAR
96 m³
Parcel 37019D0474/00C000, Flanders · tallest building 3.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
BULCON
since 20202.301.292.732
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37019D0474/00C000 | Flanders | 1,316 m² | 1 · 39 m² | 3.2 m · 1 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
2025 · 1 entry · 435 EUR awarded · 435 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 435 EUR | 435 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
PHENIX GROUP SOLUTIONS
BE 0662.645.701
Ganshoren · Eq €448k
GBO Management
BE 1024.413.832
Berloz · Eq €40k
Of 148 companies in sector 43600 we hold annual accounts for 9. 2 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-04-2020
Fiscal year end31-12
Activities, NACEBEL
43600Specialised construction activities
64200Holdings
64210Activities of holding companies
43350Other building finishing work
82990Other business support services
90393Specialised image, lighting and sound technical services
90029Arts creation and performing arts activities
90399Other support activities for arts and performing arts
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.