BUGARU
ActiveSummary
The computed 12-month bankruptcy probability of BUGARU is 1.5% (moderate). The 2025 annual accounts show negative equity (-€48,452) and a net result of -€54,452. Its solvency ranks better than 5% of 17,080 sector peers (NACE 68, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€48,452
- Loss
- -€54,452
Why 52raises riskCapped at 59: negative equityNegative equity -€48,452Loss of €54,452 (financial year 2025)lowers riskSector: Real estate activities (NACE 68)Size: total assets €56,248Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 5% on solvency, 8% on liquidity and 4% on profitability.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- Resignation: Russo Gianni (director)Director discharge
- IncorporationAppointments: BUYTAERT Glenn, RUSSO Gianni…
Financials · financial year 2025, micro format
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Peer companies
Historical observationOf the 7,639 companies that looked in July 2024 the way this one looks now, 8.8% went bankrupt within 24 months and 84.9% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 7,639 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.
| Line | 2025 |
|---|---|
| Other operating charges640/8 | €801,781 |
| Gross operating margin9900 | €747,941 |
| Operating profit (loss)9901 | -€53,840 |
| Financial charges65/66B | €612 |
| Recurring financial charges65 | €612 |
| Profit (loss) for the period before taxes9903 | -€54,452 |
| Profit (loss) for the period9904 | -€54,452 |
| Profit (loss) for the period to be appropriated9905 | -€54,452 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €56,248 | |
| Current assets29/58 | €56,248 | |
| Amounts receivable within one year40/41 | €39,080 | |
| Trade receivables40 | €39,080 | |
| Cash at bank and in hand54/58 | €2,274 | |
| Deferred charges and accrued income490/1 | €14,894 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €56,248 | |
| Equity10/15 | -€48,452 | |
| Contributions10/11 | €6,000 | |
| Profit (loss) carried forward14 | -€54,452 | |
| Amounts payable17/49 | €104,701 | |
| Amounts payable within one year42/48 | €104,301 | |
| Trade debts44 | €52,000 | |
| Suppliers440/4 | €52,000 | |
| Taxes, remuneration and social security45 | €5,321 | |
| Taxes450/3 | €5,321 | |
| Other amounts payable47/48 | €46,980 | |
| Accrued charges and deferred income492/3 | €400 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€54,452 |
| Operating cash flow (approximation) | -€54,452 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00359100 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| BUYTAERT Glenn |
|
| GANTOIS Kenneth Monique Luc |
|
| Russo Gianni |
|
Owners and capital
Capital and shareholders
- BUYTAERT Glenn 20 shares (33.3%)
- RUSSO Gianni 20 shares (33.3%)
- GANTOIS Kenneth Monique Luc 20 shares (33.3%)
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 30-07-2024 Incorporation · €6,000 · 60 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
13-01
Gazette deed
Resignation: Russo Gianni (director)Director discharge4 facts ▸
- General meeting, 05-12-2024
- Director resignation, Russo Gianni (director)
- Board composition, 05-12-2024, 2
- Director discharge, Russo Gianni (director)
30-07
Gazette deed
IncorporationAppointments: BUYTAERT Glenn, RUSSO Gianni and GANTOIS Kenneth Monique Luc · Founder · Founding capital11 facts ▸
- Incorporation, 25-07-2024
- Founder, BUYTAERT Glenn
- Founder, RUSSO Gianni
- Founder, GANTOIS Kenneth Monique Luc
- Founding capital, €6,000
- Board rule, 3
- Director appointment, BUYTAERT Glenn (director (not named in the articles))
- Director appointment, RUSSO Gianni (director (not named in the articles))
- Director appointment, GANTOIS Kenneth Monique Luc (director (not named in the articles))
- Other provision, “geen verbod artikel 6 wet 04-05-2023, geen veroordeling door rechtscollege EER-lidstaat tot soortgelijk verbod” (deed in Dutch)
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11820B0409/00G002 | Flanders | 1,504 m² | 1 · 235 m² | 6.8 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De functie van zaakvoerder,bestuurder,vereffenaar,manager of gemandateerde waarnemen evenals elke directie- of controlefunctie in…” (deed in Dutch)
5 activities (deed in Dutch)
- De functie van zaakvoerder,bestuurder,vereffenaar,manager of gemandateerde waarnemen evenals elke directie- of controlefunctie in ondernemingen en vennootschappen.
- Het leveren van diensten,het geven van adviezen,het maken van studies,het voorbereiden en op gang brengen van organisatiesystemen,en alle technieken in verband met het technisch,administratief,economisch en algemeen beheer van ondernemingen.
- De verwerving van roerende goederen waaronder participaties onder gelijk welke vorm in handels-,industriële en financiële ondernemingen,zo Belgische als buitenlandse,het beheer,evenals het te gelde maken van deze participaties,de verwerving door deelneming,inschrijving,aankoop,optie of om het even welke wijze,van deelbewijzen,aandelen,obligaties,waarden en titels.
- Het verkrijgen door aankoop in volle eigendom,in blote eigendom of in tijdelijk vruchtgebruik of anderszins,verkopen,ruilen,verbeteren,uitrusten,verbouwen,belasten met,beschikken over,productief maken,het verhuren en in huur nemen van alle onroerende goederen zowel in België als in het buitenland dus in het algemeen alle onroerende verrichtingen.
- Import,export,commissiehandel en handel van alle consumptiegoederen,grondstoffen en fabricaten,hetzij voor eigen rekening hetzij voor rekening van derden opdrachtgevers.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- BUGARU
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, 2040 Antwerpen-Zandvliet,Weeltjens 9/1” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, één of meer bestuurders” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 21 June at 18:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Netto actief onder alle aandeelhouders naar verhouding aantal aandelen en goederen in natura opzelfde wijze, na aanzuivering…” (deed in Dutch)