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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Tight liquidity NBB
Cash and receivables cover 23 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Vulkaan from Gent, company number BE0776386614, closed financial year 2025 with a result of € 10,058 after tax. For that financial year Vulkaan recorded a gross margin of € 19,435 and equity of € -49,493. Compared with financial year 2024, the result moved from € -6,651 to € 10,058. Profitable, and profit is growing. 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 March 12, 2026.
€ -49,493
▲ € 10,058 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 10,058
▲ still € 6,651 loss in 2024
Profit after tax over the fiscal year.
€ 4,223
▼ 25% 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 € -51,493.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 12,358
▲ € 10,551 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 12,027
▲ 91% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 915
▼ 77% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -31,019 | € -18,069 | € 7,153 | € 19,435 | ▲ 172% |
| Profit after taxes | € -33,000 | € -21,900 | € -6,651 | € 10,058 | ▲ € 16,708 |
| Equity | € -31,000 | € -52,900 | € -59,551 | € -49,493 | ▲ € 10,058 |
| Total debts | € 98,742 | € 91,729 | € 85,030 | € 95,432 | ▲ 12% |
| Cash | € 2,456 | € 5,052 | € 5,619 | € 4,223 | ▼ 25% |
| Retained profit | € -33,000 | € -54,900 | € -61,551 | € -51,493 | ▲ € 10,058 |
| Bank debt | € 2,853 | € 9,423 | € 1,875 | € 0 | ▼ 100% |
| Balance sheet total | € 67,742 | € 38,828 | € 25,479 | € 45,938 | ▲ 80% |
Key figures of Vulkaan, 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 April 2027.
What happened to Vulkaan?
What happened at Vulkaan in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 10,058. Source: NBB ↗
- Maren Duflou stepped down as director. NBB
- Incorporation, published in the Gazette. Source: Staatsblad ↗
- New establishment in Gent. KBO
- Willem Boel became a director. NBB
- Maren Duflou became a director. NBB
In short
From € 33,000 loss in 2022 to € 10,058 profit in 2025.
Paid € 46 in corporate taxes since 2022.
Best year ever: 2025, with € 10,058 profit.
Management
Behind Vulkaan is Willem Boel.
Directors
According to the 2025 annual accounts
Willem Boel
Director
since 2021
Maren Duflou
Director
since 2021 · until 2026
Establishments
Establishment units
Physical locations of this company
Meulestedekaai 33
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- BOEL Willem Kristiaan Renaat(oprichter) 50%
- DUFLOU Maren Marc Lieve Erwin(oprichter) 50%
Details
- Company number
- 0776.386.614
- VAT number
- BE 0776.386.614
- Registered office
- Meulestedekaai 33, 9000 Gent
- Names & denominations
- Vulkaan
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 22 October 2021
- Peppol
- Active · Active since 6 Oct 2025
- Activities · NACE
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