ACTIVE

VULPO

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Financial year 2025 · closed on 31/12/2025

Net result

283,4 k €

+18.0% YoY

Gross margin

428,1 k €

+19.8% YoY

Equity

1,4 M €

+6.5% YoY

What does VULPO do?

VULPO is a Private limited company incorporated in 2005. Its main activity is: Computer consultancy activities. Its registered office is in Haacht.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0871.584.194

Incorporation

24/01/2005

Legal form

Private limited company

Registered office

Steenakker 43
3150 Haacht · FlandreSee on map

Contributed capital

68 200,00 €

Latest accounts

31/12/2025

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 72100Research and experimental development on natural sciences and engineering 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	428,1 k €	+19.8%	357,2 k €	-0.3%	358,4 k €	+11.0%	323 k €	+3.9%	310,9 k €	+9.2%	284,7 k €	-15.3%	336,3 k €	+13.4%	296,5 k €	-2.2%	303,3 k €	+21.4%	249,8 k €	+33.4%	187,3 k €	+13.2%	165,5 k €	+7.6%	153,9 k €	-20.6%	193,7 k €	+23.1%	157,4 k €	+1.8%	154,6 k €	+4.4%	148,1 k €	-6.5%	158,3 k €	+47.7%	107,2 k €	+21.5%	88,2 k €
EBITDA	424,5 k €	+19.9%	353,9 k €	-0.3%	355,2 k €	+10.9%	320,2 k €	+3.8%	308,4 k €	+10.1%	280,1 k €	-16.2%	334,1 k €	+12.8%	296,3 k €	-0.4%	297,3 k €	+19.3%	249,3 k €	+34.0%	186 k €	+12.8%	164,9 k €	+7.5%	153,4 k €	-20.4%	192,7 k €	+23.1%	156,6 k €	+1.8%	153,9 k €	+4.4%	147,4 k €	-6.5%	157,7 k €	+48.0%	106,6 k €	+23.1%	86,6 k €
Operating result	380,3 k €	+20.8%	314,9 k €	-0.3%	315,8 k €	+11.6%	283 k €	+3.6%	273,3 k €	+10.6%	247,1 k €	-16.9%	297,3 k €	+14.6%	259,4 k €	-0.3%	260,2 k €	+23.3%	211 k €	+51.1%	139,6 k €	-0.6%	140,4 k €	+6.6%	131,7 k €	-22.9%	170,9 k €	+58.5%	107,8 k €	-29.1%	152 k €	+7.2%	141,8 k €	-6.8%	152,1 k €	+51.6%	100,3 k €	+24.7%	80,4 k €
Net result	283,4 k €	+18.0%	240,1 k €	-0.1%	240,4 k €	+14.5%	210,1 k €	+3.6%	202,7 k €	+9.7%	184,7 k €	-5.7%	195,8 k €	+13.1%	173,1 k €	+12.4%	154 k €	+25.0%	123,2 k €	+57.3%	78,3 k €	-5.0%	82,4 k €	-2.0%	84,1 k €	-23.8%	110,3 k €	+48.8%	74,2 k €	-27.8%	102,7 k €	-0.3%	103 k €	-3.7%	107 k €	+51.3%	70,8 k €	+28.2%	55,2 k €
Balance sheet
Equity	1,4 M €	+6.5%	1,3 M €	+5.2%	1,3 M €	+7.3%	1,2 M €	+7.9%	1,1 M €	+12.7%	979,6 k €	+11.7%	877,3 k €	+28.7%	681,5 k €	+34.0%	508,4 k €	+43.5%	354,4 k €	+53.3%	231,2 k €	+51.2%	152,9 k €	+939%	14,7 k €	-92.6%	199,7 k €	+123%	89,4 k €	+488%	15,2 k €	+4.9%	14,5 k €	-95.0%	287,4 k €	+59.3%	180,4 k €	+64.5%	109,7 k €
Total assets	1,5 M €	+7.0%	1,4 M €	+6.0%	1,3 M €	+7.2%	1,3 M €	+4.3%	1,2 M €	+5.1%	1,1 M €	+1.2%	1,1 M €	+20.0%	943,6 k €	+15.6%	816,2 k €	-0.8%	823,1 k €	+6.9%	769,6 k €	+61.8%	475,7 k €	-13.0%	546,6 k €	+9.5%	499,3 k €	+15.8%	431 k €	+175%	156,9 k €	-61.5%	407,5 k €	+33.2%	305,9 k €	+25.2%	244,4 k €	+47.7%	165,4 k €
Cash	40,3 k €	+37.5%	29,3 k €	-34.8%	45 k €	-82.4%	255,8 k €	+19.5%	214,1 k €	-40.7%	360,7 k €	+31447%	1,1 k €	-99.3%	164,6 k €	+381%	34,2 k €	+647%	4,6 k €	-66.7%	13,8 k €	+18.3%	11,6 k €	-91.5%	137,2 k €	+175%	49,9 k €	+171%	18,4 k €	-61.1%	47,4 k €	-84.2%	300,3 k €	+279%	79,3 k €	-57.5%	186,7 k €	+177%	67,5 k €
Debts	95,4 k €	+15.2%	82,9 k €	+19.4%	69,4 k €	+6.9%	64,9 k €	-34.8%	99,5 k €	-40.2%	166,2 k €	-34.8%	255,1 k €	-2.3%	261,2 k €	-14.9%	306,8 k €	-34.5%	468,6 k €	-12.8%	537,2 k €	+67.8%	320,1 k €	-39.8%	531,8 k €	+77.5%	299,6 k €	-12.3%	341,6 k €	+141%	141,7 k €	-63.9%	393 k €	+2029%	18,5 k €	-71.2%	64 k €	+14.7%	55,8 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Martine De Paepe

Director

Active

Michel Vos

Director

Active

Ended mandates

Martine Godelieve De Paepe

Manager · since 01 juillet 2007

Ended

Martine De Paepe

Manager

Ended

Michel Vos

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
trovato invest● Active	0552.767.366

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	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/07/2026	26/06/2025	14/06/2024	14/07/2023	15/07/2022	25/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	05/06/2026	03/07/2026	Dutch	PDF
Micro model	31/12/2024	06/06/2025	26/06/2025	Dutch	PDF
Micro model	31/12/2023	07/06/2024	14/06/2024	Dutch	PDF
Micro model	31/12/2022	02/06/2023	14/07/2023	Dutch	PDF
Micro model	31/12/2021	03/06/2022	15/07/2022	Dutch	PDF
Micro model	31/12/2020	04/06/2021	25/06/2021	Dutch	PDF
Micro model	31/12/2019	05/06/2020	12/06/2020	Dutch	PDF
Micro model	31/12/2018	07/06/2019	20/06/2019	Dutch	PDF
Abridged model	31/12/2017	01/06/2018	14/06/2018	Dutch	PDF
Abridged model	31/12/2016	02/06/2017	13/06/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	21/06/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	24/08/2015	Dutch	PDF
Abridged model	31/12/2013	14/02/2014	01/04/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	20/09/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	22/08/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	26/07/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	17/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	26/08/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	23/06/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	30/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 31/12/2025 · 2 active · 3 ended

Active mandates

Martine De Paepe

Director

Active

Michel Vos

Director

Active

Ended mandates

Martine Godelieve De Paepe

Manager · since 01 juillet 2007

Ended

Martine De Paepe

Manager

Ended

Michel Vos

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates18/10/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/03/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates26/06/2008
ONTSLAGEN - BENOEMINGEN
PDF
Other09/02/2005
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025283,4 k €↑
2024
Annual accounts 2024240,1 k €↓
2023
Annual accounts 2023240,4 k €↑
2022
Annual accounts 2022210,1 k €↑
2021
Annual accounts 2021202,7 k €↑
2020
Annual accounts 2020184,7 k €↓
2019
Annual accounts 2019195,8 k €↑
2018
Annual accounts 2018173,1 k €↑
2017
Annual accounts 2017154 k €↑
2016
Annual accounts 2016123,2 k €↑
2015
Annual accounts 201578,3 k €↓
2014
Annual accounts 201482,4 k €↓
2013
Annual accounts 201384,1 k €↓
2012
Annual accounts 2012110,3 k €↑
2011
Annual accounts 201174,2 k €↓
2010
Annual accounts 2010102,7 k €↓
2009
Annual accounts 2009103 k €↓
2008
Annual accounts 2008107 k €↑
2007
Annual accounts 200770,8 k €↑
2006
Annual accounts 200655,2 k €
24/01/2005
IncorporationPrivate 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

VULPO

Overview

What does VULPO do?

Trend over 20 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