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BUDSARA

Active
Private limited companyfounded 20232 yrs activeLouizalaan 251, 1050 Elsene, BelgiumKBO/BCE: BE 1000.956.262
Summary

The computed 12-month bankruptcy probability of BUDSARA is 1.6% (moderate). The 2025 annual accounts show equity of €31,063 and a net result of -€23,559. Equity is growing by ~47.1% per year across the filed fiscal years. Its solvency ranks better than 60% of 14254 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency67▼-23
Growth52▼-26
Track record82
Bankruptcy probability, 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.28 against 2.72 in 2024; short-term debt: 57.9% and cash: 13.6% of total assets), and 57.9% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
42.1%
Return on assets
-32%
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 31-08-2026, 31 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 · 3 filings
Deviation from the deadline
2025
31 d late
2024
78 d late
2023
31 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 47 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

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. Usually files around 1 September (3 of the last 3 filed years within 46 days of that day).
Companies Code · seven months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

BUDSARA was incorporated on 9 October 2023 as a Private limited company.1 Total assets rose from EUR 2,344 in 2023 to EUR 73,721 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2023 and 2025

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Financials · fiscal year 2025, micro schema

Source amounts without an identifiable currency are assumed to be EUR.

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€23,559
2024 · €52,843
Working capital
€12,086▼ 76.2%
2024 · €50,847
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line202320242025
Operating result-€222-€66,408-€23,469
Net result-€222within the sector's middle half-€52,843above the sector's middle half-€23,559below the sector's middle half
Equity€1,778below the sector's middle half-€54,622within the sector's middle half▲ 2,971%€31,063within the sector's middle half▼ 43.1%
Total assets€2,344below the sector's middle half-€84,223below the sector's middle half▲ 3,494%€73,721below the sector's middle half▼ 12.5%
Debt€565-€29,602▲ 5,138%€42,658▲ 44.1%
Working capital€670within the sector's middle half-€50,847within the sector's middle half▲ 7,489%€12,086within the sector's middle half▼ 76.2%
Solvency64.9%within the sector's middle half42.1%within the sector's middle half▼ 22.7pp
Current ratio2.72within the sector's middle half1.28within the sector's middle half▼ 1.43
Return on assets (ROA)62.7%above the sector's middle half-32.0%below the sector's middle half▼ 94.7pp
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€25,000€0€25,000€50,000€75,000Operating result 2023: -€222-€222Net result 2023: -€222-€222Operating result 2024: €66,408€66,408Net result 2024: €52,843€52,843Operating result 2025: -€23,469-€23,469Net result 2025: -€23,559-€23,559202320242025-€25,000€0€25,000€50,000€75,000Operating result 2023: -€222-€222Net result 2023: -€222-€222Operating result 2024: €66,408€66,400Net result 2024: €52,843€52,800Operating result 2025: -€23,469-€23,500Net result 2025: -€23,559-€23,600202320242025
The operating result turns negative in 2025: a loss of €23,469 after €66,408 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €73,721
Fixed assets €18,977 ▲ 612%
Current assets €54,744 ▼ 32.0%
Equity and liabilities €73,721
Equity €31,063 ▼ 43.1%
Debt €42,658 ▲ 44.1%
Debt's share of the balance-sheet total rises from 35.1% to 57.9%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€18,671▼
2024 · €67,741
Cash flow
-€18,761▼
2024 · €54,177
Debt to equity
1.37▲
2024 · 0.54
ROE
-75.8%▼
2024 · 96.7%
Interest coverage
-207.46▼
2024 · 3315.77
Debt ≤ 1 year
€42,658▲
2024 · €29,602
Income taxes
€0▼
2024 · €13,544
Staff costs
€113
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,227 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 87% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
2.9% went bankrupt
8.6% stopped otherwise
87% still going

A further 1.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 3,227 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet Code20242025
Assets
Total assets20/58€84,223€73,721▼
Formation expenses20€1,108€0▼
Fixed assets21/28€2,667€18,977▲
Tangible fixed assets22/27€2,667€18,977▲
Furniture and vehicles24€2,667€18,977▲
Current assets29/58€80,448€54,744▼
Amounts receivable within one year40/41€71,448€44,744▼
Trade receivables40€20,520€44,744▲
Other amounts receivable41€50,929€0▼
Cash at bank and in hand54/58€9,000€10,000▲
Equity and liabilities
Total equity and liabilities10/49€84,223€73,721▼
Equity10/15€54,622€31,063▼
Contributions10/11€2,000€2,000=
Profit (loss) carried forward14€52,622€29,063▼
Amounts payable17/49€29,602€42,658▲
Amounts payable within one year42/48€29,602€42,658▲
Trade debts44€4,507€298▼
Suppliers440/4€4,507€298▼
Taxes, remuneration and social security45€13,544€3,529▼
Taxes450/3€13,544€3,529▼
Other amounts payable47/48€11,550€38,830▲
Income statement Code20242025
Remuneration, social security and pensions62-€113
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,333€4,798▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€30,000
Other operating charges640/8-€3,005
Gross operating margin9900€67,741€14,447▼
Operating profit (loss)9901€66,408-€23,469▼
Financial charges65/66B€20€90▲
Recurring financial charges65€20€90▲
Profit (loss) for the period before taxes9903€66,388-€23,559▼
Income taxes67/77€13,544€0▼
Profit (loss) for the period9904€52,843-€23,559▼
Profit (loss) for the period to be appropriated9905€52,843-€23,559▼
Appropriation of the result
Profit (loss) to be appropriated9906€52,622€29,063▼
Profit (loss) brought forward from the previous period14P-€222€52,622▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202320242025Change
Remuneration, social security and pensions62--€113-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€222€1,333€4,798▲ 260%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€30,000-
Other operating charges640/8--€3,005-
Gross operating margin9900-€67,741€14,447▼ 78.7%
Operating profit (loss)9901-€222€66,408-€23,469▼ 135%
Financial charges65/66B-€20€90▲ 341%
Recurring financial charges65-€20€90▲ 341%
Profit (loss) for the period before taxes9903-€222€66,388-€23,559▼ 135%
Income taxes67/77-€13,544€0▼ 100%
Profit (loss) for the period9904-€222€52,843-€23,559▼ 145%
Profit (loss) for the period to be appropriated9905-€222€52,843-€23,559▼ 145%
Line202320242025Change
Assets
Total assets20/58€2,344€84,223€73,721▼ 12.5%
Formation expenses20€1,108€1,108€0▼ 100%
Fixed assets21/28-€2,667€18,977▲ 612%
Tangible fixed assets22/27-€2,667€18,977▲ 612%
Furniture and vehicles24-€2,667€18,977▲ 612%
Current assets29/58€1,235€80,448€54,744▼ 32.0%
Amounts receivable within one year40/41€235€71,448€44,744▼ 37.4%
Trade receivables40-€20,520€44,744▲ 118%
Other amounts receivable41€235€50,929€0▼ 100%
Cash at bank and in hand54/58€1,000€9,000€10,000▲ 11.1%
Equity and liabilities
Total equity and liabilities10/49€2,344€84,223€73,721▼ 12.5%
Equity10/15€1,778€54,622€31,063▼ 43.1%
Contributions10/11€2,000€2,000€2,000=
Profit (loss) carried forward14-€222€52,622€29,063▼ 44.8%
Amounts payable17/49€565€29,602€42,658▲ 44.1%
Amounts payable within one year42/48€565€29,602€42,658▲ 44.1%
Trade debts44-€4,507€298▼ 93.4%
Suppliers440/4-€4,507€298▼ 93.4%
Taxes, remuneration and social security45-€13,544€3,529▼ 73.9%
Taxes450/3-€13,544€3,529▼ 73.9%
Other amounts payable47/48€565€11,550€38,830▲ 236%
Line202320242025Change
Profit (loss) for the period9904-€222€52,843-€23,559▼ 145%
+ Depreciation and write-downs630€222€1,333€4,798▲ 260%
Operating cash flow (approximation)€0€54,177-€18,761▼ 135%
Investment in fixed assets (approximation)---€21,108-
Change in cash-€8,000€1,000▼ 87.5%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-08
NBB filing Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial Weakest financial yearnet -€23,559
Net result drops to -€23,559, the lowest in the series.
17-10
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 78 days late
2024
31-12
Financial Back to profitnet €52,843
Net result €52,843 after one loss-making year.
31-08
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Elsene · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
1,574 m²
Building footprint
1,579 m²
Volume, LiDAR
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
284 companies at this address See who is registered here
1 establishment unit
BUDSARA
Louizalaan 251, 1050 ElseneReal estate development
since 20232.352.828.634
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21807G0135/00T003 Brussels 1,574 m² 1 · 1,579 m² 46.6 m · 13 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.

Similar companies · same sector, comparable size

Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 4,578 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded09-10-2023
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
68310Real estate agency activities
68321Property management for co-owned buildings (syndics)
85592Vocational training
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID 0208:1000956262
Registered 26-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.