Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 50 % of short-term debt in 2025; threshold 65 %.
-
Figures corrected NBB
Corrected annual account filed for 2024.
-
Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
GULFCOM EUROPE from Gent, company number BE0423769640, closed financial year 2025 with a result of € 106,260 after tax. For that financial year GULFCOM EUROPE recorded revenue of € 629,995 and equity of € 1.1 million. Compared with financial year 2024, the result moved from € 117,284 to € 106,260. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 3, 2026.
€ 1.1 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 106,260
▼ 9% vs 2024
Profit after tax over the fiscal year.
€ 52,716
▼ 90% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 100,000 paid out
94 % of the profit went to the shareholders, mostly to Bostoen Group (50 % of the shares). That is where the money ends up.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 6,749
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 5 days on average.
€ 16,182
▼ 25% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 394,115 | € 234,209 | € 297,818 | € 629,995 | ▲ 112% |
| Profit after taxes | € 166,755 | € 87,676 | € 117,284 | € 106,260 | ▼ 9% |
| Equity | € 1,244,290 | € 1,101,966 | € 1,119,250 | € 1,125,510 | ▲ 1% |
| Total debts | € 347,292 | € 246,559 | € 129,056 | € 122,931 | ▼ 5% |
| Cash | € 603,674 | € 506,047 | € 502,519 | € 52,716 | ▼ 90% |
| Retained profit | € 242,800 | € 100,476 | € 117,760 | € 124,020 | ▲ 5% |
| Dividend | € 300,000 | € 230,000 | € 100,000 | € 100,000 | |
| Balance sheet total | € 1,591,582 | € 1,348,525 | € 1,248,306 | € 1,248,441 |
Key figures of GULFCOM EUROPE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to GULFCOM EUROPE?
What happened at GULFCOM EUROPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Isabelle Crul stepped down as director. NBB
- LATEMWAARTS NV stepped down as director. NBB
- ERTVELD NV stepped down as director. NBB
- Paco Crul stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 106,260 (▼ 9% vs 2024). Source: NBB ↗
- Isabelle Crul became a director. NBB
- LATEMWAARTS NV became a director. NBB
- ERTVELD NV became a director. NBB
In short
From € 166,755 profit in 2022 to € 106,260 profit in 2025.
Paid € 166,127 in corporate taxes since 2022.
Best year ever: 2022, with € 166,755 profit.
Paid out € 730,000 in dividends to the owners in total.
Management
The stake of Bostoen Group, HEBELIS, AROMCO, PAMABO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GULFCOM EUROPEThe shares are held by Bostoen Group (50%), HEBELIS (20%), AROMCO (20%) and PAMABO (10%). It owns 64% of NOORWEEGSE KAAI itself.
Directors
According to the 2025 annual accounts
since 2021 · until 2027
Director · represented by Stephan Bostoen
Also active at: Immobiliën Francis Bostoen, ILLINOIS, Traxbel, 7energy
since 2021 · until 2027
Managing director · represented by Danielle Bostoen
Also active at: Immobiliën Francis Bostoen, Bostoen Group, ILLINOIS
since 2021 · until 2027
Shareholders
Participations
64%
Establishments
Establishment units
Physical locations of this company
Pauline Van Pottelsberghelaan 22
9051 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →Bouw Francis Bostoen
€ 49.9 million revenue · 2025
Immobiliën Francis Bostoen same network
€ 4.3 million revenue · 2025
NATUURSTEEN CRUL
€ -1,815 gross margin · 2025
Bostoen Group same network
€ 679,326 revenue · 2025
ILLINOIS same network
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0423.769.640
- VAT number
- BE 0423.769.640
- Registered office
- Pauline Van Pottelsberghelaan 22, 9051 Gent
- Names & denominations
- GULFCOM EUROPE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 21 March 1983
- Peppol
- Active · Active since 6 Jan 2026