BRUSARI
ActiveSummary
BRUSARI has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €89k and a net result of €57k. Equity is growing by ~58.3% per year across the filed fiscal years. Its solvency ranks better than 27% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+3
Solvency34▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.38 against 0.58 in 2024; short-term debt: 91.3% and cash: 33.2% of total assets), and 91.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.7%
Return on assets
5.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-09-2026, 47 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
47 d late
2024
29 d late
2023
18 d late
2022
29 d late
2021
3 d early
2020
30 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€57k▼ 7.1%
2024 · €61k
Working capital
€-575k▲ 19.2%
2024 · €-712k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€72k▼ 19.8%€62k▼ 14.5%€43k▼ 30.0%€50k▲ 16.7%€99k▲ 97.8%
Net result€72k▼ 19.9%€60k▼ 16.6%€43k▼ 28.4%€61k▲ 42.6%€57k▼ 7.1%
Equity€-132k▲ 35.2%€-72k▲ 45.4%€-29k▲ 59.6%€32k€89k▲ 177%
Total assets€1.35M▼ 0.3%€1.32M▼ 2.7%€1.10M▼ 16.7%€1.72M▲ 56.5%€1.02M▼ 40.6%
Debt€1.49M▼ 4.8%€1.39M▼ 6.5%€1.13M▼ 18.9%€1.69M▲ 49.6%€932k▼ 44.8%
Working capital€-1.16M▲ 12.7%€-1.01M▲ 13.3%€-868k▲ 13.9%€-712k▲ 17.9%€-575k▲ 19.2%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 98% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.02M
Fixed assets
€664k ▼ 10.8%
Current assets
€357k ▼ 63.4%
Equity and liabilities €1.02M
Equity
€89k ▲ 177%
Debt
€932k ▼ 44.8%
Debt's share of the balance-sheet total falls from 98.1% to 91.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€194k▲
2024 · €150k
Cash flow
€151k▼
2024 · €160k
Current ratio
0.38▼
2024 · 0.58
Debt to equity
10.48▼
2024 · 52.61
ROE
63.9%▼
2024 · 190.8%
ROA
5.6%▲
2024 · 3.6%
Interest coverage
8.64▼
2024 · 793.36
Debt ≤ 1 year
€932k▼
2024 · €1.69M
Income taxes
€20k▲
2024 · €6k
Staff costs
€0▼
2024 · €10k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €21k | €22k | €21k | €10k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €98k | €98k | €98k | €99k | €94k | ▼ 4.9% |
| Other operating charges640/8 | €7k | €7k | €7k | €14k | €8k | ▼ 42.6% |
| Gross operating margin9900 | €198k | €189k | €169k | €173k | €202k | ▲ 16.3% |
| Operating profit (loss)9901 | €72k | €62k | €43k | €50k | €99k | ▲ 97.8% |
| Financial income75/76B | - | - | - | €17k | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | €17k | €0 | ▼ 100% |
| Financial charges65/66B | €248 | €683 | €208 | €189 | €22k | ▲ 11,798% |
| Recurring financial charges65 | €248 | €683 | €208 | €189 | €22k | ▲ 11,798% |
| Profit (loss) for the period before taxes9903 | €72k | €61k | €43k | €67k | €77k | ▲ 14.5% |
| Income taxes67/77 | - | €1k | €1 | €6k | €20k | ▲ 231% |
| Profit (loss) for the period9904 | €72k | €60k | €43k | €61k | €57k | ▼ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €72k | €60k | €43k | €61k | €57k | ▼ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.35M | €1.32M | €1.10M | €1.72M | €1.02M | ▼ 40.6% |
| Fixed assets21/28 | €1.03M | €937k | €839k | €744k | €664k | ▼ 10.8% |
| Tangible fixed assets22/27 | €1.03M | €937k | €839k | €744k | €664k | ▼ 10.8% |
| Land and buildings22 | €968k | €887k | €807k | €727k | €659k | ▼ 9.4% |
| Furniture and vehicles24 | €63k | €46k | €29k | €13k | €739 | ▼ 94.4% |
| Other tangible fixed assets26 | - | €3k | €3k | €5k | €5k | ▲ 7.2% |
| Current assets29/58 | €322k | €381k | €259k | €974k | €357k | ▼ 63.4% |
| Amounts receivable within one year40/41 | €17k | €12k | €26k | €500 | €18k | ▲ 3,412% |
| Trade receivables40 | €13k | €12k | €26k | - | €16k | - |
| Other amounts receivable41 | €4k | - | - | €500 | €2k | ▲ 212% |
| Cash at bank and in hand54/58 | €305k | €368k | €227k | €973k | €339k | ▼ 65.2% |
| Deferred charges and accrued income490/1 | €446 | €815 | €6k | €1k | €150 | ▼ 85.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.35M | €1.32M | €1.10M | €1.72M | €1.02M | ▼ 40.6% |
| Equity10/15 | €-132k | €-72k | €-29k | €32k | €89k | ▲ 177% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Profit (loss) carried forward14 | €-194k | €-134k | €-91k | €-30k | €27k | ▲ 190% |
| Amounts payable17/49 | €1.49M | €1.39M | €1.13M | €1.69M | €932k | ▼ 44.8% |
| Amounts payable within one year42/48 | €1.49M | €1.39M | €1.13M | €1.69M | €932k | ▼ 44.8% |
| Financial debts43 | €0 | - | €215 | €522 | €0 | ▼ 100% |
| Other loans439 | €0 | - | €215 | €522 | €0 | ▼ 100% |
| Trade debts44 | - | €4k | €8k | €6k | €12k | ▲ 83.3% |
| Suppliers440/4 | - | €4k | €8k | €6k | €12k | ▲ 83.3% |
| Taxes, remuneration and social security45 | €3k | €4k | €2k | €3k | €7k | ▲ 99.6% |
| Taxes450/3 | - | €1k | - | €2k | €7k | ▲ 325% |
| Remuneration and social security454/9 | €3k | €3k | €2k | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | €1.48M | €1.38M | €1.12M | €1.68M | €913k | ▼ 45.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72k | €60k | €43k | €61k | €57k | ▼ 7.1% |
| + Depreciation and write-downs630 | €98k | €98k | €98k | €99k | €94k | ▼ 4.9% |
| Operating cash flow (approximation) | €169k | €158k | €141k | €160k | €151k | ▼ 5.7% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €-5k | €-14k | ▼ 196% |
| Change in cash | - | €63k | €-141k | €746k | €-634k | ▼ 185% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 47 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
18-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 18 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
31-12
Financial
Back to profitnet €98k
Net result €98k after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1996
Ground area
221 m²
Building footprint
157 m²
Volume, LiDAR
1,660 m³
Parcel 21822R0487/00T003, Brussels · tallest building 16.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
BRUSARI
since 19962.078.086.131
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0487/00T003 | Brussels | 221 m² | 1 · 157 m² | 15.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,764. 4,049 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-08-1996
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.