Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Dr. Philip Vulsteke from Ieper, company number BE0542429245, closed financial year 2025 with a result of € 21,413 after tax. For that financial year Dr. Philip Vulsteke recorded a gross margin of € 103,162 and equity of € 18,600. Compared with financial year 2024, the result moved from € 55,097 to € 21,413. The company is profitable. The buffer shrank hard: equity is 88 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 2, 2026.
€ 18,600
▼ 88% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 21,413
▼ 61% vs 2024
Profit after tax over the fiscal year.
€ 15,762
▼ 71% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 153,837 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 157
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 45,403
▼ 32% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 645,583
▼ 7% vs 2024
€ 46,257 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 5,286
▲ 54% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,714
▼ 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 | € 99,984 | € 172,495 | € 136,327 | € 103,162 | ▼ 24% |
| Profit after taxes | € 49,729 | € 61,685 | € 55,097 | € 21,413 | ▼ 61% |
| Equity | € 84,241 | € 125,926 | € 151,023 | € 18,600 | ▼ 88% |
| Total debts | € 625,914 | € 803,732 | € 746,317 | € 822,774 | ▲ 10% |
| Cash | € 83,423 | € 24,665 | € 53,494 | € 15,762 | ▼ 71% |
| Land & buildings | € 563,526 | € 758,395 | € 720,950 | € 683,505 | ▼ 5% |
| Retained profit | € 65,641 | € 107,326 | € 132,423 | € 0 | ▼ 100% |
| Dividend | € 10,000 | € 20,000 | € 30,000 | € 153,837 | ▲ € 123,837 |
| Bank debt | € 580,319 | € 749,758 | € 692,968 | € 645,583 | ▼ 7% |
| Balance sheet total | € 710,155 | € 929,658 | € 897,340 | € 841,374 | ▼ 6% |
Key figures of Dr. Philip Vulsteke, 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 Dr. Philip Vulsteke?
What happened at Dr. Philip Vulsteke in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 21,413 (▼ 61% vs 2024). Source: NBB ↗
- New establishment in Vleteren. KBO
- Start of the company according to the CBE. KBO
- Philip Vulsteke became a director. NBB
- Karolien Baelen became a director. NBB
In short
From € 49,729 profit in 2022 to € 21,413 profit in 2025.
Paid € 10,607 in corporate taxes since 2022.
Best year ever: 2023, with € 61,685 profit.
Paid out € 213,837 in dividends to the owners in total.
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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
Behind Dr. Philip Vulsteke are Philip Vulsteke and Karolien Baelen.
Directors
According to the 2025 annual accounts
Philip Vulsteke
Director
since 2013
Karolien Baelen
Director
since 2013
Establishments
Establishment units
Physical locations of this company
Sint-Bartholomeusstraat 1
8900 Ieper
Elverdingestraat(Woes) 22
8640 Vleteren
Active since 25 November 2013
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0542.429.245
- VAT number
- BE 0542.429.245
- Registered office
- Sint-Bartholomeusstraat 1, 8900 Ieper
- Names & denominations
- Dr. Philip Vulsteke
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 25 November 2013
- Peppol
- Active · Active since 19 Mar 2025
- Activities · NACE
Activiteiten van huisartspraktijken
Overige zakelijke dienstverlening, neg