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 30 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
VULPES PARTNERS from Antwerpen, company number BE0635911709, closed financial year 2025 with a result of € 59,821 after tax. For that financial year VULPES PARTNERS recorded a gross margin of € 97,873 and equity of € 21,140. Compared with financial year 2024, the result moved from € 43,541 to € 59,821. Profitable, and profit is growing. The buffer shrank hard: equity is 75 % 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 30, 2026.
€ 21,140
▼ 75% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 59,821
▲ 37% vs 2024
Profit after tax over the fiscal year.
€ 30,727
▼ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 122,500 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 34,968
▲ 129% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 17,980
▲ € 14,595 vs 2024
€ 7,440 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 3,893
▼ 6% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 3,067
▼ 9% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 48,675 | € 66,204 | € 74,332 | € 97,873 | ▲ 32% |
| Profit after taxes | € 21,010 | € 36,236 | € 43,541 | € 59,821 | ▲ 37% |
| Equity | € 74,042 | € 80,278 | € 83,819 | € 21,140 | ▼ 75% |
| Total debts | € 50,815 | € 52,968 | € 51,106 | € 126,800 | ▲ 148% |
| Cash | € 51,466 | € 72,578 | € 42,306 | € 30,727 | ▼ 27% |
| Land & buildings | € 7,130 | € 5,672 | € 4,214 | € 2,757 | ▼ 35% |
| Retained profit | € 53,042 | € 59,278 | € 62,819 | € 140 | ▼ € 62,679 |
| Dividend | € 20,000 | € 30,000 | € 40,000 | € 122,500 | ▲ 206% |
| Bank debt | € 23,498 | € 13,484 | € 3,385 | € 17,980 | ▲ € 14,595 |
| Balance sheet total | € 124,857 | € 133,246 | € 134,925 | € 147,940 | ▲ 10% |
Key figures of VULPES PARTNERS, 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 VULPES PARTNERS?
What happened at VULPES PARTNERS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 59,821 (▲ 37% vs 2024). Source: NBB ↗
- New establishment in Antwerpen. KBO
- Francis Renard became a director. NBB
- Leentje Verhaert became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 21,010 profit in 2022 to € 59,821 profit in 2025.
Paid € 53,766 in corporate taxes since 2022.
Best year ever: 2025, with € 59,821 profit.
Paid out € 212,500 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 VULPES PARTNERS are Francis Renard and Leentje Verhaert. Francis Renard is also behind FACTORING SERVICE CENTER.
Directors
According to the 2025 annual accounts
since 2015
Leentje Verhaert
Director
since 2015
Establishments
Establishment units
Physical locations of this company
Arthur Goemaerelei 21
2018 Antwerpen
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
- 0635.911.709
- VAT number
- BE 0635.911.709
- Registered office
- Arthur Goemaerelei 21, 2018 Antwerpen
- Names & denominations
- VULPES PARTNERS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 31 August 2015
- Peppol
- Active · Active since 15 Jul 2025
- Activities · NACE
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