ZULTAN
0894.819.654 · rovalta.com · 23/09/2026
ACTIVE
ZULTAN
Financial year 2025 · closed on 30/09/2025
Net result
75,6 k €
+4.3% YoY
Gross margin
134,5 k €
+1.4% YoY
Equity
402,8 k €
+22.5% YoY
Overview
What does ZULTAN do?
ZULTAN is a Private limited company incorporated in 2007. Its main activity is: Advertising agencies. Its registered office is in Bierbeek.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0894.819.654
Incorporation
11/12/2007
Legal form
Private limited company
Registered office
Koning Albertlaan 148 box A
3360 Bierbeek · FlandreSee on map
3360 Bierbeek · FlandreSee on map
Contributed capital
6 200,00 €
Latest accounts
30/09/2025
Activities (NACE)
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
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Financials
Trend over 16 financial years
| 2025 | 2024 | 2023 | 2022 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||
| Gross margin | 134,5 k € | +1.4% | 132,7 k € | +21.2% | 109,5 k € | +171% | 40,4 k € | -65.9% | 118,3 k € | +79.3% | 66 k € | -15.4% | 78 k € | -39.3% | 128,5 k € | +41.9% | 90,5 k € | -23.5% | 118,3 k € | +4.8% | 112,9 k € | -0.0% | 112,9 k € | +68.0% | 67,2 k € | -22.1% | 86,3 k € | -2.5% | 88,5 k € | +13.9% | 77,7 k € |
| EBITDA | 132,3 k € | +1.6% | 130,2 k € | +20.6% | 108 k € | +192% | 36,9 k € | -68.0% | 115,5 k € | +88.4% | 61,3 k € | -17.3% | 74,1 k € | -41.3% | 126,2 k € | +43.0% | 88,2 k € | -23.9% | 115,9 k € | +4.4% | 111 k € | +1.5% | 109,4 k € | +67.3% | 65,3 k € | -23.3% | 85,2 k € | -2.6% | 87,4 k € | +18.4% | 73,8 k € |
| Operating result | 98,7 k € | +2.9% | 95,9 k € | +23.0% | 78 k € | +664% | 10,2 k € | -89.1% | 94 k € | +186% | 32,9 k € | -18.3% | 40,2 k € | -57.5% | 94,7 k € | +77.2% | 53,4 k € | -36.0% | 83,4 k € | -8.1% | 90,8 k € | +181% | 32,3 k € | -17.7% | 39,3 k € | -35.5% | 60,9 k € | -4.2% | 63,5 k € | +18.1% | 53,8 k € |
| Net result | 75,6 k € | +4.3% | 72,5 k € | +21.5% | 59,7 k € | +490% | 10,1 k € | -84.9% | 67 k € | +182% | 23,8 k € | -29.1% | 33,5 k € | -42.3% | 58,1 k € | +163% | 22,1 k € | -53.7% | 47,7 k € | -0.6% | 48 k € | +99.8% | 24 k € | +83.2% | 13,1 k € | -58.6% | 31,7 k € | -12.6% | 36,2 k € | +1.6% | 35,7 k € |
| Balance sheet | |||||||||||||||||||||||||||||||
| Equity | 402,8 k € | +22.5% | 329 k € | +1.2% | 325,2 k € | +11.8% | 291 k € | -17.0% | 350,4 k € | +23.3% | 284,2 k € | +8.8% | 261,3 k € | +14.7% | 227,7 k € | +34.2% | 169,7 k € | +15.0% | 147,6 k € | +47.8% | 99,9 k € | +92.5% | 51,9 k € | +86.2% | 27,9 k € | -73.4% | 104,8 k € | +43.3% | 73,1 k € | +98.3% | 36,9 k € |
| Total assets | 481,9 k € | -1.6% | 489,7 k € | +5.3% | 465,2 k € | -3.0% | 479,5 k € | -7.6% | 519,1 k € | +5.1% | 494 k € | +5.4% | 468,6 k € | +4.5% | 448,2 k € | +10.2% | 406,8 k € | -0.5% | 409 k € | +6.7% | 383,4 k € | +15.0% | 333,3 k € | +116% | 154,4 k € | +4.4% | 147,8 k € | +15.6% | 127,9 k € | +5.0% | 121,8 k € |
| Cash | 42,2 k € | -28.4% | 59 k € | +123% | 26,4 k € | -14.3% | 30,8 k € | -50.3% | 62 k € | +37.0% | 45,2 k € | +48.4% | 30,5 k € | +5.7% | 28,8 k € | +38.4% | 20,8 k € | -52.2% | 43,6 k € | +116% | 20,2 k € | +145% | 8,2 k € | -77.3% | 36,2 k € | -3.3% | 37,4 k € | +342% | 8,5 k € | +33.2% | 6,4 k € |
| Debts | 77,9 k € | -50.8% | 158,1 k € | +14.8% | 137,8 k € | -5.2% | 145,4 k € | -13.8% | 168,7 k € | -19.6% | 209,8 k € | +1.2% | 207,3 k € | -6.0% | 220,5 k € | -7.0% | 237,1 k € | -8.9% | 260,4 k € | -8.2% | 283,5 k € | +1.1% | 280,4 k € | +122% | 126,5 k € | +194% | 43,1 k € | -21.4% | 54,8 k € | -35.5% | 84,9 k € |
Estimate
Indicative valuation
As an indication, this company is worth
between 500 k€ and 1 M€
See the valuationGovernance
Board of directors
Seen on filing of 30/09/2025 · 2 active · 5 ended
Active mandates
Kurt VAN LOOVEREN
ActiveNele GEBOERS
ActiveEnded mandates
KURT VAN LOOVEREN
EndedNele GEBOERS
EndedKURT VAN LOOVEREN
EndedNele GEBOERS
EndedAt this address
Other companies at this address
| Company | CBE no. |
|---|---|
ASDGS● Active | 1010.818.093 |
Financials
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 | 01/10/2024 | 01/10/2023 | 01/10/2022 | 01/10/2021 | 01/10/2020 | 01/10/2019 |
| Closing of the financial year | 30/09/2025 | 30/09/2024 | 30/09/2023 | 30/09/2022 | 30/09/2021 | 30/09/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 20/04/2026 | 31/03/2025 | 25/03/2024 | 20/03/2023 | 21/03/2022 | 20/04/2021 |
| General meeting | 31/03/2026 | 28/03/2025 | 22/03/2024 | 17/03/2023 | 18/03/2022 | 19/03/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
18 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 30/09/2025 | 31/03/2026 | 20/04/2026 | Dutch | |
| Micro model | 30/09/2024 | 28/03/2025 | 31/03/2025 | Dutch | |
| Micro model | 30/09/2023 | 22/03/2024 | 25/03/2024 | Dutch | |
| Micro model | 30/09/2022 | 17/03/2023 | 20/03/2023 | Dutch | |
| Micro model | 30/09/2021 | 18/03/2022 | 21/03/2022 | Dutch | |
| Micro model | 30/09/2020 | 19/03/2021 | 20/04/2021 | Dutch | |
| Micro model | 30/09/2019 | 20/03/2020 | 25/03/2020 | Dutch | |
| Micro model | 30/09/2018 | 15/03/2019 | 19/04/2019 | Dutch | |
| Micro model | 30/09/2017 | 16/03/2018 | 26/03/2018 | Dutch | |
| Abridged model | 30/09/2016 | 17/03/2017 | 28/04/2017 | Dutch | |
| Abridged model | 30/09/2015 | 18/03/2016 | 21/03/2016 | Dutch | |
| Abridged model | 30/09/2014 | 20/03/2015 | 23/03/2015 | Dutch | |
| Abridged model | 30/09/2013 | 21/03/2014 | 24/03/2014 | Dutch | |
| Abridged model | 30/09/2012 | 15/03/2013 | 18/03/2013 | Dutch | |
| Abridged model | 30/09/2011 | 16/03/2012 | 19/03/2012 | Dutch | |
| Abridged model | 30/09/2010 | 18/03/2011 | 21/03/2011 | Dutch | |
| Abridged model | 30/09/2009 | 19/03/2010 | 02/04/2010 | Dutch | |
| Abridged model | 30/09/2008 | 20/03/2009 | 27/03/2009 | Dutch |
Valuation
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 30/09/2025 · 2 active · 5 ended
Active mandates
Kurt VAN LOOVEREN
ActiveNele GEBOERS
ActiveEnded mandates
KURT VAN LOOVEREN
EndedNele GEBOERS
EndedKURT VAN LOOVEREN
EndedNele GEBOERS
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 202575,6 k €↑
- 2024Annual accounts 202472,5 k €↑
- 2023Annual accounts 202359,7 k €↑
- 2022Annual accounts 202210,1 k €↓
- 2019Annual accounts 201967 k €↑
- 2018Annual accounts 201823,8 k €↓
- 2017Annual accounts 201733,5 k €↓
- 2016Annual accounts 201658,1 k €↑
- 2015Annual accounts 201522,1 k €↓
- 2014Annual accounts 201447,7 k €↓
- 2013Annual accounts 201348 k €↑
- 2012Annual accounts 201224 k €↑
- 2011Annual accounts 201113,1 k €↓
- 2010Annual accounts 201031,7 k €↓
- 2009Annual accounts 200936,2 k €↑
- 2008Annual accounts 200835,7 k €
- 11/12/2007IncorporationPrivate limited company