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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
VULPIA BRUXELLES - BRUSSEL from Evere, company number BE0638941671, closed financial year 2025 with a result of € -1.9 million after tax. For that financial year VULPIA BRUXELLES - BRUSSEL recorded revenue of € 10 million and equity of € -14.4 million. Compared with financial year 2024, the result moved from € -1.8 million to € -1.9 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ -14.4 million
▼ € 1.9 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.9 million
▼ 7 % more loss than in 2024
Profit after tax over the fiscal year.
€ 290,260
▼ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
124.9
▲ 7.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 7.3 million
▲ 6% vs 2024
€ 58,400 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.
€ 300,472
▼ 16% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 20.5 million
▲ 28% vs 2024
€ 213,519 is repaid this year. At this pace the long-term loan is gone in ≈ 94 years.
€ 538,724
▼ 34% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 38 days on average.
€ 2.6 million
▼ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 7,964,862 | € 8,638,451 | € 10,388,977 | € 10,003,972 | ▼ 4% |
| Profit after taxes | € -2,242,638 | € -2,931,329 | € -1,815,955 | € -1,935,978 | ▼ € 120,023 |
| Equity | € -7,704,796 | € -10,636,125 | € -12,451,832 | € -14,387,810 | ▼ € 1.9 million |
| Total debts | € 15,008,750 | € 17,800,855 | € 21,056,469 | € 24,662,470 | ▲ 17% |
| Cash | € 385,422 | € 439,032 | € 958,852 | € 290,260 | ▼ 70% |
| Retained profit | € -7,704,796 | € -10,636,125 | € -12,451,832 | € -14,387,810 | ▼ € 1.9 million |
| Bank debt | € 11,390,357 | € 13,708,085 | € 16,035,840 | € 20,483,196 | ▲ 28% |
| Balance sheet total | € 7,303,954 | € 7,164,730 | € 8,604,637 | € 10,274,660 | ▲ 19% |
| Employees (FTE) | 105.1 | 107 | 117.4 | 124.9 | ▲ 7.5 |
Key figures of VULPIA BRUXELLES - BRUSSEL, 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 VULPIA BRUXELLES - BRUSSEL?
What happened at VULPIA BRUXELLES - BRUSSEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1.9 million. Source: NBB ↗
- Lucas Van Moerzeke became a director. NBB
- Luc Van Moerzeke became a director. NBB
- New establishment in Sint-Jans-Molenbeek. KBO
- New establishment in Koekelberg. KBO
- New establishment in Evere. KBO
- New establishment in Evere. KBO
- Start of the company according to the CBE. KBO
In short
From € 2.2 million loss in 2022 to € 1.9 million loss in 2025.
Paid € 2,012 in corporate taxes since 2022.
Pays suppliers within 38 days on average.
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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 VULPIA BRUXELLES - BRUSSEL are Lucas Van Moerzeke and Luc Van Moerzeke. The same people are also behind SENSE INVEST, Sense Real Estate, SENSE PROPERTIES, VULPIA WALLONIE and Vulpia Premium Living. Lucas Van Moerzeke is also behind THE INTERIOR LAB. Luc Van Moerzeke is also behind Le Douaire Invest, RESIDENCE QUENTIN, Green Tara Group, MONTERRY and DE WIELINGEN DEVELOPMENT.
Directors
According to the 2025 annual accounts
Lucas Van Moerzeke
Director
Also active at: SENSE INVEST, Sense Real Estate, SENSE PROPERTIES, VULPIA WALLONIE, Vulpia Premium Living, Vulpia Vlaanderen, Sense Development, RESIDENTIE DE LAAK +3 more
since 2024
Luc Van Moerzeke
Director
Also active at: Le Douaire Invest, RESIDENCE QUENTIN, SENSE INVEST, Sense Real Estate, Green Tara Group, MONTERRY, SENSE PROPERTIES, DE WIELINGEN DEVELOPMENT +12 more
since 2024
Establishments
Establishment units
Physical locations of this company
Goede Herderstraat 40
1140 Evere
Frans Léonstraat 40
1140 Evere
Active since 1 October 2016
M. L. Uytroeverstraat 1
1081 Koekelberg
Active since 1 January 2018
Louis Mettewielaan 110
1080 Sint-Jans-Molenbeek
Active since 1 October 2019
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0638.941.671
- VAT number
- BE 0638.941.671
- Registered office
- Goede Herderstraat 40, 1140 Evere
- Names & denominations
- VULPIA BRUXELLES - BRUSSEL
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 29 September 2015
- Peppol
- Active · Active since 10 Dec 2025
- Activities · NACE
Rust- en verzorgingstehuizen (RVT)