Financials
Financial year 2025
LUC VULSTEKE INDUSTRIAL from Kortemark, company number BE0461171949, closed financial year 2025 with a result of € 1.9 million after tax. For that financial year LUC VULSTEKE INDUSTRIAL recorded revenue of € 94.1 million and equity of € 14 million. Compared with financial year 2024, the result moved from € 3.1 million to € 1.9 million. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 17, 2026.
€ 14 million
▲ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▼ 38% vs 2024
Profit after tax over the fiscal year.
€ 5.5 million
▼ 19% 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 € 13.9 million.
People and assets in 2025
26.3
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.7 million
▲ 2% vs 2024
€ 66,200 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.
€ 159,974
▼ 19% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 28.4 million
▲ 72% vs 2024
€ 55,353 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 17.8 million
▲ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 77 days on average.
€ 794,828
▼ 40% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 112,391,599 | € 122,724,802 | € 121,275,594 | € 94,147,668 | ▼ 22% |
| Profit after taxes | € 1,390,106 | € 2,542,916 | € 3,074,427 | € 1,893,968 | ▼ 38% |
| Equity | € 7,647,433 | € 10,190,349 | € 12,114,776 | € 14,008,744 | ▲ 16% |
| Total debts | € 68,180,244 | € 76,842,272 | € 77,076,582 | € 88,504,691 | ▲ 15% |
| Cash | € 7,787,026 | € 8,741,962 | € 6,824,060 | € 5,513,253 | ▼ 19% |
| Retained profit | € 7,585,933 | € 10,128,849 | € 12,053,276 | € 13,947,244 | ▲ 16% |
| Dividend | € 0 | € 0 | € 1,150,000 | € 0 | ▼ 100% |
| Bank debt | € 18,915,665 | € 14,665,544 | € 16,450,446 | € 28,359,480 | ▲ 72% |
| Balance sheet total | € 75,877,677 | € 88,131,621 | € 90,140,058 | € 104,104,195 | ▲ 15% |
| Employees (FTE) | 27.1 | 26.1 | 26.2 | 26.3 | ▲ 0.1 |
Key figures of LUC VULSTEKE INDUSTRIAL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to LUC VULSTEKE INDUSTRIAL?
What happened at LUC VULSTEKE INDUSTRIAL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Hilde Vanhullebusch stepped down as director. NBB
- Luc Vulsteke stepped down as director. NBB
- Sequentia Invest BV stepped down as director. NBB
- Wouter Leenknegt stepped down as director. NBB
- Moore Audit BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.9 million (▼ 38% vs 2024). filed late Source: NBB ↗
- Hilde Vanhullebusch became a director. NBB
- Luc Vulsteke became a director. NBB
In short
From € 1.4 million profit in 2022 to € 1.9 million profit in 2025.
Paid € 3.5 million in corporate taxes since 2022.
Best year ever: 2024, with € 3.1 million profit.
Paid out € 1.2 million in dividends to the owners in total.
A new publication or filing at LUC VULSTEKE INDUSTRIAL? We notify you, reason included.
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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
The stake of Sequentia Invest comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
LUC VULSTEKE INDUSTRIALThe shares are held by Sequentia Invest (98.4%). It owns 89.5% of Plasma Holding itself.
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Auditor · represented by Kristof Planquette (A02127)
Also active at: T.D.M., Transdemo, Van Biesen - Everaert, Standaard Uitgeverij, EEG, BOGERD MARTIN, APK Telecom Networksolutions, Binnenstad +8 more
since 2024 · until 2027
Luc Vulsteke
Director
Also active at: PLASMA HOLDING, TUBIZE PLASTIQUES, Retail Immo Menen, Ubuild, GHISLENGHIEN LOGISTIQUE, AD-NEW CO, FLOREFFE REAL ESTATE, Résidences Libramont +5 more
since 2025 · until 2031
Managing director · represented by Nickolas Vulsteke
Also active at: PLASMA HOLDING, HOUTLAND BETON, Extenso, Retail Immo Menen, Royal Navy Property, LONG NELLE, IMMO DE POSTHOORN, TRANSKOR +1 more
since 2025 · until 2031
since 2025 · until 2031
Shareholders
98.4%
Participations
89.5%
Establishments
Establishment units
Physical locations of this company
Hoogledestraat 122B
8610 Kortemark
Hoogledestraat 122 box B
8610 Kortemark
Active since 25 September 1997
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →Beltramex
€ -66 gross margin · 2025
LEEUWENHART
€ 46,971 gross margin · 2025
Résidences Libramont same network
€ -364,614 gross margin · 2024
IMMO DE POSTHOORN same network
€ -14,723 gross margin · 2025
DKU BEHEER same network
€ 1 million gross margin · 2025
+3 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
- 0461.171.949
- VAT number
- BE 0461.171.949
- Registered office
- Hoogledestraat 122B, 8610 Kortemark
- Names & denominations
- LUC VULSTEKE INDUSTRIAL · LVI
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 August 1997
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Optrekken van gebouwen voor industrieel of commercieel gebruik, voor landbouwdoeleinden, enz.
Algemene bouw van andere niet-residentiële gebouwen
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen constructiewerken en onderdelen daarvan
Bouwrijp maken van terreinen
Groothandel in bouwmaterialen, algemeen assortiment
Algemene bouw van residentiële gebouwen
Handel in eigen onroerend goed
+3