ACTIVE

PULSAR

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Financial year 2025 · closed on 30/06/2025

Net result

5,7 k €

+178.3% YoY

Gross margin

10,2 k €

+42.7% YoY

Equity

200,3 k €

+2.9% YoY

What does PULSAR do?

PULSAR is a Public limited company incorporated in 1995. Its main activity is: Other professional, scientific and technical activities. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.366.885

Incorporation

03/11/1995

Legal form

Public limited company

Registered office

Rue du Houblon 42
1000 Bruxelles · BruxellesSee on map

Contributed capital

100 000,00 €

Latest accounts

30/06/2025

Activities (NACE)

74879Other professional, scientific and technical activities· main 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	10,2 k €	+42.7%	7,2 k €	+120%	-36,7 k €	-3.7%	-35,3 k €	+5.6%	-37,4 k €	-4.6%	-35,8 k €	-323%	16 k €	-64.1%	44,7 k €	-0.6%	45 k €	-5.4%	47,6 k €	+42.0%	33,5 k €	-22.8%	43,4 k €	+53.0%	28,4 k €	-72.0%	101,3 k €	+804%	11,2 k €	+51.0%	7,4 k €	-5.9%	7,9 k €	+36.2%	5,8 k €	-76.7%	24,8 k €
EBITDA	8,5 k €	+79.8%	4,7 k €	+112%	-38,5 k €	+3.5%	-39,9 k €	-2.2%	-39 k €	-5.7%	-36,9 k €	-347%	14,9 k €	-66.0%	43,9 k €	-0.3%	44 k €	-5.3%	46,4 k €	+79.7%	25,8 k €	-35.9%	40,3 k €	+46.3%	27,6 k €	-72.5%	100,4 k €	+906%	10 k €	+47.9%	6,7 k €	-3.0%	7 k €	+49.0%	4,7 k €	-79.9%	23,2 k €
Operating result	5,9 k €	+145%	2,4 k €	+106%	-40,1 k €	+1.3%	-40,6 k €	+5.3%	-42,9 k €	-2.7%	-41,8 k €	-619%	8,1 k €	-80.2%	40,7 k €	+12.3%	36,3 k €	-10.6%	40,6 k €	+112%	19,2 k €	-39.7%	31,8 k €	+78.9%	17,8 k €	-81.7%	96,9 k €	+2503%	3,7 k €	+625%	513,5 €	-69.7%	1,7 k €	+1441%	-126,2 €	-101%	18,2 k €
Net result	5,7 k €	+178%	2 k €	+105%	-39,8 k €	+2.9%	-41 k €	+5.1%	-43,3 k €	-2.6%	-42,2 k €	-1138%	4,1 k €	-84.2%	25,8 k €	+6.7%	24,2 k €	-3.0%	24,9 k €	+84.6%	13,5 k €	+50.2%	9 k €	-50.9%	18,3 k €	-74.3%	71,2 k €	+1967%	3,4 k €	+408%	677,7 €	-43.6%	1,2 k €	+197%	404,9 €	-97.3%	14,9 k €
Balance sheet
Equity	200,3 k €	+2.9%	194,7 k €	+1.1%	192,7 k €	-17.1%	232,5 k €	-15.0%	273,6 k €	-13.7%	316,8 k €	-11.7%	359 k €	+1.1%	354,9 k €	+7.8%	329,1 k €	+7.9%	304,9 k €	+8.9%	280 k €	+5.1%	266,5 k €	+3.5%	257,5 k €	+7.6%	239,2 k €	+42.4%	168,1 k €	+2.1%	164,6 k €	+0.4%	163,9 k €	+0.7%	162,7 k €	+0.2%	162,3 k €
Total assets	228,2 k €	-1.9%	232,5 k €	-3.2%	240,1 k €	-13.9%	279 k €	-16.3%	333,3 k €	-9.9%	370,1 k €	-11.2%	416,6 k €	-1.7%	423,8 k €	+9.8%	386 k €	+12.1%	344,4 k €	+6.0%	324,9 k €	-60.5%	822,5 k €	+14.3%	719,4 k €	+161%	276,1 k €	+39.1%	198,4 k €	+18.1%	168 k €	-1.1%	169,9 k €	-1.4%	172,3 k €	+2.4%	168,2 k €
Cash	124,8 k €	+56.4%	79,8 k €	-32.5%	118,1 k €	-19.3%	146,4 k €	-22.7%	189,4 k €	-16.5%	226,8 k €	-19.9%	283,1 k €	+30.9%	216,2 k €	+18.0%	183,3 k €	+49.9%	122,3 k €	-41.5%	209,2 k €	-29.2%	295,6 k €	+236%	87,9 k €	+150%	35,1 k €	+134%	15 k €	-35.7%	23,3 k €	+0.3%	23,2 k €	+299%	5,8 k €	-58.5%	14 k €
Debts	27,8 k €	-15.7%	32,9 k €	-22.4%	42,5 k €	-6.7%	45,5 k €	-23.8%	59,7 k €	+12.1%	53,3 k €	-7.6%	57,7 k €	-15.9%	68,6 k €	+21.1%	56,6 k €	+44.6%	39,1 k €	-12.8%	44,9 k €	-91.9%	556 k €	+20.4%	461,8 k €	+1155%	36,8 k €	+21.1%	30,4 k €	+793%	3,4 k €	-43.3%	6 k €	-37.3%	9,6 k €	+63.4%	5,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 21 ended

Active mandates

Elisabeth Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Kerlijne Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Mathias Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Anna Roosen

Gedelegeerd bestuurder · since 26 janvier 2021 · until 26 novembre 2027

Active

Ended mandates

Mathias VANDENBULCKE

Director · since 26 novembre 2022 · until 26 novembre 2027

Ended

Anne ROOSEN

Managing director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Elisabeth VANDENBULCKE

Director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Kerlijne VANDENBULCKE

Director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/01/2026	31/01/2025	30/01/2024	31/01/2023	22/02/2022	05/02/2021
General meeting	28/11/2025	29/11/2024	24/11/2023	25/11/2022	26/11/2021	27/11/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/06/2025	28/11/2025	30/01/2026	Dutch	PDF
Micro model	30/06/2024	29/11/2024	31/01/2025	Dutch	PDF
Micro model	30/06/2023	24/11/2023	30/01/2024	Dutch	PDF
Micro model	30/06/2022	25/11/2022	31/01/2023	Dutch	PDF
Micro model	30/06/2021	26/11/2021	22/02/2022	Dutch	PDF
Micro model	30/06/2020	27/11/2020	05/02/2021	Dutch	PDF
Micro model	30/06/2019	29/11/2019	18/02/2020	Dutch	PDF
Micro model	30/06/2018	30/11/2018	31/01/2019	Dutch	PDF
Micro model	30/06/2017	24/11/2017	31/01/2018	Dutch	PDF
Abridged model	30/06/2016	25/11/2016	21/12/2016	Dutch	PDF
Abridged model	30/06/2015	27/11/2015	14/12/2015	Dutch	PDF
Abridged model	30/06/2014	28/11/2014	26/01/2015	Dutch	PDF
Abridged model	30/06/2013	29/11/2013	14/02/2014	Dutch	PDF
Abridged model	30/06/2012	30/11/2012	22/02/2013	Dutch	PDF
Abridged model	30/06/2011	25/11/2011	17/02/2012	Dutch	PDF
Abridged model	30/06/2010	26/11/2010	10/02/2011	Dutch	PDF
Abridged model	30/06/2009	27/11/2009	16/02/2010	Dutch	PDF
Abridged model	30/06/2008	07/11/2008	16/02/2009	Dutch	PDF
Abridged model	30/06/2007	30/11/2007	27/12/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/06/2025 · 4 active · 21 ended

Active mandates

Elisabeth Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Kerlijne Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Mathias Vandenbulcke

Bestuurder · since 26 novembre 2021 · until 26 novembre 2027

Active

Anna Roosen

Gedelegeerd bestuurder · since 26 janvier 2021 · until 26 novembre 2027

Active

Ended mandates

Mathias VANDENBULCKE

Director · since 26 novembre 2022 · until 26 novembre 2027

Ended

Anne ROOSEN

Managing director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Elisabeth VANDENBULCKE

Director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Kerlijne VANDENBULCKE

Director · since 26 novembre 2021 · until 26 novembre 2027

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office13/12/2024
MAATSCHAPPELIJKE ZETEL
PDF
Other05/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/03/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2010
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20255,7 k €↑
2024
Annual accounts 20242 k €↑
2023
Annual accounts 2023-39,8 k €↑
2022
Annual accounts 2022-41 k €↑
2021
Annual accounts 2021-43,3 k €↓
2020
Annual accounts 2020-42,2 k €↓
2019
Annual accounts 20194,1 k €↓
2018
Annual accounts 201825,8 k €↑
2017
Annual accounts 201724,2 k €↓
2016
Annual accounts 201624,9 k €↑
2015
Annual accounts 201513,5 k €↑
2014
Annual accounts 20149 k €↓
2013
Annual accounts 201318,3 k €↓
2012
Annual accounts 201271,2 k €↑
2011
Annual accounts 20113,4 k €↑
2010
Annual accounts 2010677,7 €↓
2009
Annual accounts 20091,2 k €↑
2008
Annual accounts 2008404,9 €↓
2007
Annual accounts 200714,9 k €
03/11/1995
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PULSAR

Overview

What does PULSAR do?

Trend over 19 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline