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 61 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VANDEN BULCKE from Avelgem, company number BE0446589681, closed financial year 2025 with a result of € 9,776 after tax. For that financial year VANDEN BULCKE recorded a gross margin of € 586,723 and equity of € 792,108. Compared with financial year 2024, the result moved from € 18,888 to € 9,776. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 31, 2025.
€ 792,108
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 9,776
▼ 48% vs 2024
Profit after tax over the fiscal year.
€ 352,540
▲ 24% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 538,017.
People and assets in 2025
5.6
▲ 0.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 131,162
▲ 8% vs 2024
€ 23,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1.4 million
▲ 20% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.3 million
▲ 26% vs 2024
€ 313,998 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 406,621
▲ 23% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 124,413
▲ 18% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 561,524 | € 498,324 | € 516,567 | € 586,723 | ▲ 14% |
| Profit after taxes | € 123,052 | € 17,616 | € 18,888 | € 9,776 | ▼ 48% |
| Equity | € 745,828 | € 763,445 | € 782,333 | € 792,108 | ▲ 1% |
| Total debts | € 1,526,015 | € 1,624,871 | € 1,747,045 | € 2,128,684 | ▲ 22% |
| Cash | € 180,498 | € 118,545 | € 285,037 | € 352,540 | ▲ 24% |
| Retained profit | € 491,738 | € 509,354 | € 528,242 | € 538,017 | ▲ 2% |
| Bank debt | € 1,037,752 | € 859,721 | € 1,024,556 | € 1,295,750 | ▲ 26% |
| Balance sheet total | € 2,271,844 | € 2,388,316 | € 2,529,377 | € 2,920,792 | ▲ 15% |
| Employees (FTE) | 5 | 4.6 | 4.8 | 5.6 | ▲ 0.8 |
Key figures of VANDEN BULCKE, 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 October 2026.
What happened to VANDEN BULCKE?
What happened at VANDEN BULCKE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- THIBO BAERT stepped down as director. NBB
- GUDRUN VANDEN BULCKE stepped down as director. NBB
- HELENA SPILEERS stepped down as director. NBB
- MARC BAERT stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 9,776 (▼ 48% vs 2024). Source: NBB ↗
- THIBO BAERT became a director. NBB
- GUDRUN VANDEN BULCKE became a director. NBB
- HELENA SPILEERS became a director. NBB
In short
From € 123,052 profit in 2022 to € 9,776 profit in 2025.
Paid € 24,898 in corporate taxes since 2022.
Best year ever: 2022, with € 123,052 profit.
On average € 104,800 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
THIBO BAERT
Managing director
since 2023 · until 2026
GUDRUN VANDEN BULCKE
Managing director
since 2020 · until 2026
HELENA SPILEERS
Director
since 2020 · until 2026
MARC BAERT
Managing director
since 2020 · until 2026
Establishments
Establishment units
Physical locations of this company
Oudenaardsesteenweg 396
8581 Avelgem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0446.589.681
- VAT number
- BE 0446.589.681
- Registered office
- Oudenaardsesteenweg 396, 8581 Avelgem
- Names & denominations
- VANDEN BULCKE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 February 1992
- Peppol
- Active · Active since 27 Mar 2026
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