ACTIVE

BULA

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Financial year 2025 · closed on 31/12/2025

Net result

28,6 k €

-54.4% YoY

Gross margin

62 k €

-52.2% YoY

Equity

236,6 k €

-24.3% YoY

What does BULA do?

BULA is a Private limited company incorporated in 2007. Its registered office is in Sint-Truiden.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0887.108.847

Incorporation

08/02/2007

Legal form

Private limited company

Registered office

Kabei 48
3800 Sint-Truiden · FlandreSee on map

Contributed capital

20 971,43 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	62 k €	-52.2%	129,6 k €	+2.8%	126 k €	+50.9%	83,5 k €	-12.4%	95,3 k €	+21.7%	78,3 k €	-8.3%	85,4 k €	+34.9%	63,3 k €	-25.6%	85,1 k €	+106%	41,3 k €	+5.5%	39,1 k €	-27.0%	53,6 k €	-16.9%	64,5 k €	+12.1%	57,6 k €	+22.2%	47,1 k €	+24.2%	37,9 k €	+26.7%	29,9 k €	+23.2%	24,3 k €
EBITDA	59,6 k €	-53.2%	127,4 k €	+2.6%	124,1 k €	+50.8%	82,3 k €	-4.3%	86,1 k €	+13.2%	76,1 k €	-8.9%	83,5 k €	+36.1%	61,3 k €	-25.6%	82,4 k €	+118%	37,8 k €	+7.8%	35 k €	-23.5%	45,8 k €	-20.2%	57,4 k €	+16.4%	49,3 k €	+25.8%	39,2 k €	+25.1%	31,3 k €	+27.4%	24,6 k €	+34.3%	18,3 k €
Operating result	44,5 k €	-53.5%	95,7 k €	+16.4%	82,2 k €	+82.9%	44,9 k €	-27.0%	61,5 k €	+105%	30,1 k €	-35.7%	46,8 k €	+134%	20 k €	-51.7%	41,4 k €	+141%	17,2 k €	-10.3%	19,1 k €	-36.5%	30,2 k €	-29.3%	42,6 k €	+45.0%	29,4 k €	+61.9%	18,2 k €	+91.5%	9,5 k €	+246%	2,7 k €	+190%	945,2 €
Net result	28,6 k €	-54.4%	62,7 k €	+23.4%	50,8 k €	+88.4%	27 k €	-21.6%	34,4 k €	+107%	16,7 k €	-40.3%	27,9 k €	+258%	7,8 k €	-66.2%	23,1 k €	+334%	5,3 k €	-28.3%	7,4 k €	-45.2%	13,5 k €	-37.0%	21,5 k €	+27.5%	16,9 k €	+277%	4,5 k €	+184%	-5,4 k €	-494%	1,4 k €	+1.6%	1,3 k €
Balance sheet
Equity	236,6 k €	-24.3%	312,6 k €	+25.1%	249,9 k €	+0.3%	249,2 k €	+12.1%	222,2 k €	+36.4%	162,8 k €	-42.9%	285,2 k €	+10.8%	257,3 k €	+3.1%	249,5 k €	+10.2%	226,4 k €	+2.4%	221,1 k €	+3.5%	213,7 k €	+6.8%	200,2 k €	+12.0%	178,7 k €	+10.4%	161,8 k €	+2.8%	157,3 k €	-3.3%	162,7 k €	+0.8%	161,3 k €
Total assets	286,8 k €	-21.5%	365,3 k €	-13.2%	420,7 k €	+13.2%	371,6 k €	+3.3%	359,8 k €	+13.0%	318,3 k €	-30.9%	460,4 k €	+1.0%	456 k €	-0.2%	456,7 k €	+7.0%	426,8 k €	-8.7%	467,7 k €	+2.6%	456,1 k €	+5.2%	433,6 k €	+4.9%	413,4 k €	-4.4%	432,6 k €	-2.7%	444,6 k €	-5.5%	470,5 k €	+144%	192,9 k €
Cash	9,3 k €	-93.3%	138,5 k €	-27.3%	190,5 k €	+71.1%	111,3 k €	+46.4%	76 k €	+45.0%	52,4 k €	-47.8%	100,5 k €	+97.6%	50,9 k €	+719%	6,2 k €	-86.9%	47,3 k €	-41.7%	81,1 k €	+38.6%	58,5 k €	+31.2%	44,6 k €	+288%	11,5 k €	-33.0%	17,2 k €	+176%	6,2 k €	-54.2%	13,6 k €	+251%	3,9 k €
Debts	50,2 k €	-4.5%	52,6 k €	-69.2%	170,8 k €	+39.4%	122,5 k €	-9.3%	135,1 k €	-11.7%	152,9 k €	-11.4%	172,7 k €	-12.0%	196,1 k €	-4.2%	204,6 k €	+2.1%	200,4 k €	-10.8%	224,6 k €	-7.3%	242,4 k €	+3.8%	233,5 k €	-0.5%	234,7 k €	-13.3%	270,7 k €	-5.7%	287,3 k €	-6.6%	307,7 k €	+876%	31,5 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

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

Active mandates

MARINA LAMENS

Director

Active

PASCAL BUDO

Director

Active

Ended mandates

MARINA LAMENS

Mandate

Ended

PASCAL BUDO

Mandate

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	01/01/2025	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	15/07/2026	29/08/2025	30/08/2024	17/07/2023	22/07/2022	25/06/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	24/06/2022	25/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	26/06/2026	15/07/2026	Dutch	PDF
Micro model	31/12/2024	27/06/2025	29/08/2025	Dutch	PDF
Micro model	31/12/2023	28/06/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	17/07/2023	Dutch	PDF
Micro model	31/12/2021	24/06/2022	22/07/2022	Dutch	PDF
Micro model	31/12/2020	25/06/2021	25/06/2021	Dutch	PDF
Micro model	31/12/2019	26/06/2020	27/08/2020	Dutch	PDF
Micro model	31/12/2018	28/06/2019	08/08/2019	Dutch	PDF
Micro model	31/12/2017	22/06/2018	16/08/2018	Dutch	PDF
Micro model	31/12/2016	23/06/2017	12/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	19/08/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	12/08/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	27/09/2013	Dutch	PDF
Abridged model	31/12/2011	22/06/2012	25/10/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	16/12/2011	Dutch	PDF
Abridged model	31/12/2009	25/06/2010	08/07/2010	Dutch	PDF
Abridged model	31/12/2008	26/06/2009	02/07/2009	Dutch	PDF
Abridged model	31/12/2007	27/06/2008	03/07/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 2 ended

Active mandates

MARINA LAMENS

Director

Active

PASCAL BUDO

Director

Active

Ended mandates

MARINA LAMENS

Mandate

Ended

PASCAL BUDO

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/10/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/07/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other16/02/2007
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 202528,6 k €↓
2024
Annual accounts 202462,7 k €↑
2023
Annual accounts 202350,8 k €↑
2022
Annual accounts 202227 k €↓
2021
Annual accounts 202134,4 k €↑
2019
Annual accounts 201916,7 k €↓
2018
Annual accounts 201827,9 k €↑
2017
Annual accounts 20177,8 k €↓
2016
Annual accounts 201623,1 k €↑
2015
Annual accounts 20155,3 k €↓
2014
Annual accounts 20147,4 k €↓
2013
Annual accounts 201313,5 k €↓
2012
Annual accounts 201221,5 k €↑
2011
Annual accounts 201116,9 k €↑
2010
Annual accounts 20104,5 k €↑
2009
Annual accounts 2009-5,4 k €↓
2008
Annual accounts 20081,4 k €↑
2007
Annual accounts 20071,3 k €
08/02/2007
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

BULA

Overview

What does BULA do?

Trend over 18 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