ACTIVE

VULTURE

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Financial year 2024 · closed on 31/12/2024

Net result

229,1 k €

+36.1% YoY

Gross margin

283,9 k €

+2.8% YoY

Equity

1,6 M €

+0.6% YoY

What does VULTURE do?

VULTURE is a Public limited company incorporated in 2001. Its registered office is in Liège.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0476.476.470

Incorporation

27/12/2001

Legal form

Public limited company

Registered office

Boulevard Frère-Orban 15 box 6
4000 Liège · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2024

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	283,9 k €	+2.8%	276,1 k €	-4.2%	288,3 k €	+3.6%	278,3 k €	-3.7%	288,9 k €	+5.9%	272,7 k €	+22.2%	223,2 k €	+37.6%	162,2 k €	-5.9%	172,3 k €	-3.6%	178,8 k €	+1.3%	176,4 k €	-1.2%	178,6 k €	+5.8%	168,8 k €	+4.0%	162,2 k €	-3.7%	168,5 k €	+0.9%	166,9 k €	-1.1%	168,8 k €	+4.8%	161,1 k €
EBITDA	263,5 k €	+3.4%	254,9 k €	-5.2%	268,9 k €	+3.8%	259,1 k €	-3.7%	269 k €	+7.9%	249,4 k €	+20.1%	207,7 k €	+38.0%	150,5 k €	-6.4%	160,8 k €	-4.0%	167,6 k €	+1.5%	165,2 k €	-2.4%	169,3 k €	+5.5%	160,4 k €	+4.7%	153,2 k €	-4.4%	160,3 k €	+0.0%	160,3 k €	+0.0%	160,2 k €	+4.4%	153,5 k €
Operating result	232,5 k €	+30.2%	178,6 k €	-5.9%	189,8 k €	+7.3%	176,9 k €	-3.7%	183,7 k €	+14.7%	160,2 k €	+442%	29,6 k €	-71.1%	102,2 k €	-6.8%	109,7 k €	-4.1%	114,3 k €	+4.3%	109,6 k €	-1.1%	110,9 k €	+16.1%	95,5 k €	-1.7%	97,1 k €	-9.0%	106,7 k €	+4.1%	102,5 k €	+15.3%	88,9 k €	-10.4%	99,2 k €
Net result	229,1 k €	+36.1%	168,3 k €	+24.9%	134,7 k €	+9.5%	123 k €	-2.2%	125,8 k €	+30.4%	96,5 k €	+320%	23 k €	-65.4%	66,5 k €	-7.4%	71,8 k €	-4.1%	74,8 k €	+4.6%	71,6 k €	+1012%	6,4 k €	-88.9%	58,1 k €	+6.6%	54,5 k €	-60.3%	137,1 k €	+6.8%	128,3 k €	+207%	41,8 k €	-69.9%	139,2 k €
Balance sheet
Equity	1,6 M €	+0.6%	1,6 M €	+1.8%	1,6 M €	+9.3%	1,5 M €	+9.2%	1,3 M €	+10.4%	1,2 M €	+8.7%	1,1 M €	+2.1%	1,1 M €	+6.5%	1 M €	+7.6%	949,3 k €	-0.9%	957,5 k €	+8.1%	885,9 k €	-6.4%	946,4 k €	+6.5%	888,3 k €	+6.5%	833,9 k €	+19.7%	696,8 k €	+22.6%	568,4 k €	+58.8%	357,9 k €
Total assets	1,9 M €	+0.5%	1,8 M €	-5.7%	2 M €	-5.1%	2,1 M €	-5.3%	2,2 M €	-3.3%	2,3 M €	-3.1%	2,3 M €	+99.6%	1,2 M €	+9.5%	1,1 M €	-5.9%	1,1 M €	+2.5%	1,1 M €	+7.6%	1 M €	-0.8%	1 M €	-7.6%	1,1 M €	-6.2%	1,2 M €	+3.5%	1,2 M €	-0.0%	1,2 M €	+43.7%	801,9 k €
Cash	29,6 k €	-82.7%	170,8 k €	-17.8%	207,7 k €	-10.5%	232,1 k €	-12.7%	265,8 k €	+25.3%	212,1 k €	+9.3%	194 k €	-67.1%	588,9 k €	+34.0%	439,3 k €	-3.3%	454,3 k €	+55.8%	291,5 k €	+84.8%	157,7 k €	+281%	41,4 k €	-76.2%	174 k €	-28.1%	242,2 k €	+234%	72,5 k €	-23.6%	94,8 k €	+648%	12,7 k €
Debts	224,5 k €	-0.3%	225,2 k €	-38.4%	365,5 k €	-39.6%	604,7 k €	-28.3%	843,7 k €	-19.2%	1 M €	-13.7%	1,2 M €	+1492%	76 k €	+84.8%	41,1 k €	-77.1%	179,9 k €	+24.4%	144,6 k €	+4.4%	138,6 k €	+60.4%	86,4 k €	-62.4%	229,6 k €	-35.8%	357,9 k €	-21.4%	455,2 k €	-22.0%	583,7 k €	+31.5%	444 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 7 ended

Active mandates

CLAUDE BOULANGE

Managing director · since 28 avril 2021 · until 31 mai 2026

Active

DANIEL BOULANGE

Chairman of the board of directors · since 28 avril 2021 · until 31 mai 2026

Active

Ended mandates

CLAUDE BOULANGE

Managing director · since 21 juin 2017 · until 21 juin 2022

Ended

DANIEL BOULANGE

Chairman of the board of directors · since 21 juin 2017 · until 21 juin 2022

Ended

CLAUDE BOULANGE

Managing director · since 21 juin 2012 · until 21 juin 2018

Ended

DANIEL BOULANGE

Chairman of the board of directors · since 21 juin 2012 · until 21 juin 2018

Ended

At this address

Other companies at this address

Company	CBE no.
BDC VENTURES● Active	0741.668.136
CABINET D'AVOCATS BOULANGE● Active	0751.621.722
CHRIS INVEST● Active	0442.904.473
Pierre BOULANGÉ● Active	1021.707.136

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/06/2025	21/06/2024	15/06/2023	12/06/2022	25/05/2021	18/06/2020
General meeting	19/06/2025	20/06/2024	15/06/2023	31/05/2022	25/05/2021	18/06/2020
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
Abridged model	31/12/2024	19/06/2025	28/06/2025	French	PDF
Abridged model	31/12/2023	20/06/2024	21/06/2024	French	PDF
Abridged model	31/12/2022	15/06/2023	15/06/2023	French	PDF
Abridged model	31/12/2021	31/05/2022	12/06/2022	French	PDF
Abridged model	31/12/2020	25/05/2021	25/05/2021	French	PDF
Abridged model	31/12/2019	18/06/2020	18/06/2020	French	PDF
Abridged model	31/12/2018	20/06/2019	02/07/2019	French	PDF
Abridged model	31/12/2017	21/06/2018	21/06/2018	French	PDF
Abridged model	31/12/2016	17/06/2017	23/06/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	08/06/2016	French	PDF
Abridged model	31/12/2014	18/06/2015	19/06/2015	French	PDF
Abridged model	31/12/2013	19/06/2014	11/08/2014	French	PDF
Abridged model	31/12/2012	20/06/2013	12/08/2013	French	PDF
Abridged model	31/12/2011	21/06/2012	13/08/2012	French	PDF
Abridged model	31/12/2010	16/06/2011	06/07/2011	French	PDF
Abridged model	31/12/2009	17/06/2010	21/06/2010	French	PDF
Abridged model	31/12/2008	18/06/2009	19/06/2009	French	PDF
Abridged model	31/12/2007	19/06/2008	26/08/2008	French	PDF
Abridged model	31/12/2006	21/06/2007	21/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 31/12/2024 · 2 active · 7 ended

Active mandates

CLAUDE BOULANGE

Managing director · since 28 avril 2021 · until 31 mai 2026

Active

DANIEL BOULANGE

Chairman of the board of directors · since 28 avril 2021 · until 31 mai 2026

Active

Ended mandates

CLAUDE BOULANGE

Managing director · since 21 juin 2017 · until 21 juin 2022

Ended

DANIEL BOULANGE

Chairman of the board of directors · since 21 juin 2017 · until 21 juin 2022

Ended

CLAUDE BOULANGE

Managing director · since 21 juin 2012 · until 21 juin 2018

Ended

DANIEL BOULANGE

Chairman of the board of directors · since 21 juin 2012 · until 21 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/05/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates11/10/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates17/12/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates10/09/2007
DEMISSIONS, NOMINATIONS
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

2024
Annual accounts 2024229,1 k €↑
2023
Annual accounts 2023168,3 k €↑
2022
Annual accounts 2022134,7 k €↑
2021
Annual accounts 2021123 k €↓
2020
Annual accounts 2020125,8 k €↑
2019
Annual accounts 201996,5 k €↑
2018
Annual accounts 201823 k €↓
2017
Annual accounts 201766,5 k €↓
2016
Annual accounts 201671,8 k €↓
2015
Annual accounts 201574,8 k €↑
2014
Annual accounts 201471,6 k €↑
2013
Annual accounts 20136,4 k €↓
2012
Annual accounts 201258,1 k €↑
2011
Annual accounts 201154,5 k €↓
2010
Annual accounts 2010137,1 k €↑
2009
Annual accounts 2009128,3 k €↑
2008
Annual accounts 200841,8 k €↓
2007
Annual accounts 2007139,2 k €
27/12/2001
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

VULTURE

Overview

What does VULTURE do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

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