BUGESIM
ActiveSummary
BUGESIM has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43,820 and a net result of €25,679. Equity has been growing by about 122% per year since 2022. Its solvency ranks better than 70% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 31-03-2022 Normal situation
- Activity
- Real estate agency activities NACE 68310and 5 others
- Establishment unit
- 2.330.166.662 6041 Charleroi, since 31-03-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 07-10-2026
Board and ownership
Board
- ROBEYNS ChristopheDirector
- LANGLET MathisDirector
- SOCCIO AngéliqueDirector
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Gross margin
- €51,059
- ▲ 40.8%
- Turnover
- ≈ €110,000
- estimated
- Profit
- €25,679
- ▲ 137%
- Equity
- €43,820
- ▲ 121%
- Total assets
- €78,896
- ▲ 51.2%
- Staff
- 1 FTE
- ▲ 233%
Score breakdownlowers riskLiquidity: current ratio 2.36, cash €57,992Sector: Real estate activities (NACE 68)Equity €43,820 (55.5% of total assets)Figures for financial year 2025 (filed on 07-07-2026)Show the evidence
Checked score
Score 2025
98
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 86% of micro companies in real estate (NACE 68)
Financial strength · tick: 2024
Strong
Solvency
81+18
equity 55.5% of total assets
Liquidity
86+14
short-term debt 32.0% · cash 73.5%
Profitability
100+5
return on assets 32.5%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.4%▲ +0.1 percentage points vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.6%▲ +0.2 percentage points vs 07-2025highest value
09-2025: 0.2%▼ -0.4 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.1%▼ -0.1 percentage points vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.2%▲ +0.1 percentage points vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: < 0.1%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.36 (1.2 in 2024), above the usual 1.5. Short-term debt is 32% and cash 73.5% of total assets. 44.5% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 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). It does better than 68% of them on solvency, 89% on liquidity, 95% on profitability and 93% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
24 days early
2024
2 days late
2023
41 days early
2022
45 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 27 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 4 filings
Turnover
€154,913▲ 37.4%
2022 · €112,754
EBIT margin
6.0%▲ 6.1pp
2022 · 0.0%
Net result
€25,679▲ 137%
2024 · €10,834
Working capital
€34,332▲ 483%
2024 · €5,891
Multi-year overview
2022 to 2025, 4 financial yearsTurnover
no figure
2025
20222025
Operating result
€35,545
▲ 122%
2025
20222025
Net result
€25,679
▲ 137%
2025
middle half of the sector
20222025
EBIT margin
no figure
2025
20222025
Equity
€43,820
▲ 121%
2025
middle half of the sector
20222025
Total assets
€78,896
▲ 51.2%
2025
lowest quarter of the sector
20222025
Debt
€35,076
▲ 8.4%
2025
20222025
Working capital
€34,332
▲ 483%
2025
middle half of the sector
20222025
Solvency
55.5%
▲ 17.6pp
2025
middle half of the sector
20222025
Current ratio
2.36
▲ 1.16
2025
middle half of the sector
20222025
Return on assets (ROA)
32.5%
▲ 11.8pp
2025
highest quarter of the sector
20222025
Staff (FTE)
1
▲ 233%
2025
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Turnover€112,754-€154,913▲ 37.4%
Operating result-€42-€9,353€15,980▲ 70.9%€35,545▲ 122%
Net result-€1,087within the sector's middle half-€5,060within the sector's middle half€10,834within the sector's middle half▲ 114%€25,679within the sector's middle half▲ 137%
EBIT margin0.0%-6.0%▲ 6.1pp
Equity€3,913below the sector's middle half-€8,973below the sector's middle half▲ 129%€19,807within the sector's middle half▲ 121%€43,820within the sector's middle half▲ 121%
Total assets€69,909below the sector's middle half-€52,534below the sector's middle half▼ 24.9%€52,164below the sector's middle half▼ 0.7%€78,896below the sector's middle half▲ 51.2%
Debt€65,996-€43,560▼ 34.0%€32,357▼ 25.7%€35,076▲ 8.4%
Working capital-€6,106within the sector's middle half--€6,126within the sector's middle half▼ 0.3%€5,891within the sector's middle half€34,332within the sector's middle half▲ 483%
Solvency5.6%below the sector's middle half-17.1%within the sector's middle half▲ 11.5pp38.0%within the sector's middle half▲ 20.9pp55.5%within the sector's middle half▲ 17.6pp
Current ratio0.87within the sector's middle half-0.82within the sector's middle half▼ 0.051.20within the sector's middle half▲ 0.382.36within the sector's middle half▲ 1.16
Return on assets (ROA)-1.6%within the sector's middle half-9.6%above the sector's middle half▲ 11.2pp20.8%above the sector's middle half▲ 11.1pp32.5%above the sector's middle half▲ 11.8pp
Staff (FTE)0.8-0.8=0.3▼ 62.5%1▲ 233%
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 122% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €78,896
Fixed assets
€19,335 ▲ 11.9%
Current assets
€59,561 ▲ 70.8%
Equity and liabilities €78,896
Equity
€43,820 ▲ 121%
Debt
€35,076 ▲ 8.4%
Debt's share of the balance-sheet total falls from 62.0% to 44.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€43,040▲
2024 · €23,606
Cash flow
€33,174▲
2024 · €18,460
Debt to equity
0.80▼
2024 · 1.63
ROE
58.6%▲
2024 · 54.7%
Interest coverage
37.60▲
2024 · 28.10
Debt ≤ 1 year
€25,229▼
2024 · €28,987
Debt > 1 year
€9,847▲
2024 · €3,370
Income taxes
€8,729▲
2024 · €4,306
Staff costs
€5,915▼
2024 · €11,611
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - | - |
| full-time | 1 | 1 | - | - |
| in full-time equivalents | 1 | 1 | - | - |
| Average over the year, in full-time equivalents | 0.8 | 0.8 | 0.3 | 0.2 |
| On a permanent contract | 1 | - | - | - |
| Joined | 1 | 1 | 0 | 1 |
| Left | 0 | 1 | 1 | 1 |
| Training hours | 5 | 7 | 200 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €33,967 | €2,498 | - | €18,229 |
| Depreciation and write-downs of the year | €4,427 | €7,127 | €7,626 | €7,495 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €112,754 | €154,913 | - | - | - |
| Non-recurring operating income76A | - | €6,451 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €86,661 | €115,564 | - | - | - |
| Remuneration, social security and pensions62 | €22,844 | €28,289 | €11,611 | €5,915 | ▼ 49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,427 | €7,127 | €7,626 | €7,495 | ▼ 1.7% |
| Other operating charges640/8 | €1,702 | €1,032 | €1,047 | €2,105 | ▲ 101% |
| Gross operating margin9900 | €28,931 | €45,801 | €36,265 | €51,059 | ▲ 40.8% |
| Operating profit (loss)9901 | -€42 | €9,353 | €15,980 | €35,545 | ▲ 122% |
| Financial income75/76B | - | €1 | - | €7 | - |
| Recurring financial income75 | - | €1 | - | €7 | - |
| Financial charges65/66B | €920 | €1,217 | €840 | €1,145 | ▲ 36.3% |
| Recurring financial charges65 | €920 | €1,217 | €840 | €1,145 | ▲ 36.3% |
| Profit (loss) for the period before taxes9903 | -€961 | €8,136 | €15,140 | €34,408 | ▲ 127% |
| Income taxes67/77 | €126 | €3,076 | €4,306 | €8,729 | ▲ 103% |
| Profit (loss) for the period9904 | -€1,087 | €5,060 | €10,834 | €25,679 | ▲ 137% |
| Profit (loss) for the period to be appropriated9905 | -€1,087 | €5,060 | €10,834 | €25,679 | ▲ 137% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €69,909 | €52,534 | €52,164 | €78,896 | ▲ 51.2% |
| Fixed assets21/28 | €29,540 | €24,912 | €17,286 | €19,335 | ▲ 11.9% |
| Tangible fixed assets22/27 | €29,540 | €24,912 | €17,286 | €19,335 | ▲ 11.9% |
| Furniture and vehicles24 | €29,540 | €24,912 | €17,286 | €19,335 | ▲ 11.9% |
| Current assets29/58 | €40,368 | €27,622 | €34,879 | €59,561 | ▲ 70.8% |
| Amounts receivable within one year40/41 | €4,500 | €5,428 | €5,850 | - | - |
| Trade receivables40 | €4,500 | €5,255 | €5,850 | - | - |
| Other amounts receivable41 | - | €174 | - | - | - |
| Cash at bank and in hand54/58 | €32,727 | €18,862 | €27,209 | €57,992 | ▲ 113% |
| Deferred charges and accrued income490/1 | €3,141 | €3,332 | €1,820 | €1,569 | ▼ 13.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €69,909 | €52,534 | €52,164 | €78,896 | ▲ 51.2% |
| Equity10/15 | €3,913 | €8,973 | €19,807 | €43,820 | ▲ 121% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€1,087 | €3,973 | €14,807 | €38,820 | ▲ 162% |
| Amounts payable17/49 | €65,996 | €43,560 | €32,357 | €35,076 | ▲ 8.4% |
| Amounts payable after more than one year17 | €19,521 | €9,813 | €3,370 | €9,847 | ▲ 192% |
| Financial debts170/4 | €19,521 | €9,813 | €3,370 | €9,847 | ▲ 192% |
| Amounts payable within one year42/48 | €46,475 | €33,748 | €28,987 | €25,229 | ▼ 13.0% |
| Current portion of amounts payable after more than one year42 | €9,324 | €9,708 | €6,443 | €2,857 | ▼ 55.7% |
| Trade debts44 | €1,713 | €1,042 | €391 | €580 | ▲ 48.5% |
| Suppliers440/4 | €1,713 | €1,042 | €391 | €580 | ▲ 48.5% |
| Taxes, remuneration and social security45 | €14,690 | €7,239 | €16,448 | €18,825 | ▲ 14.5% |
| Taxes450/3 | €11,399 | €6,844 | €14,777 | €18,825 | ▲ 27.4% |
| Remuneration and social security454/9 | €3,291 | €396 | €1,672 | - | - |
| Other amounts payable47/48 | €20,748 | €15,758 | €5,705 | €2,966 | ▼ 48.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,087 | €5,060 | €10,834 | €25,679 | ▲ 137% |
| + Depreciation and write-downs630 | €4,427 | €7,127 | €7,626 | €7,495 | ▼ 1.7% |
| Operating cash flow (approximation) | €3,340 | €12,187 | €18,460 | €33,174 | ▲ 79.7% |
| Investment in fixed assets (approximation) | - | -€2,498 | €0 | -€9,545 | - |
| Change in cash | - | -€13,865 | €8,347 | €30,783 | ▲ 269% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as BUGESIM has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BUGESIM itself is lower: < 0.1% within 12 months. It rests on far more data about BUGESIM than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for BUGESIM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Directors
3 directors, no change since 2025
ROBEYNS Christophe
Current
Director (not named in the articles) · appointed in the act of 04-04-2022 · term without a fixed end
LANGLET Mathis
Current
Director (not named in the articles) · appointed in the act of 16-06-2025 · term without a fixed end
SOCCIO Angélique
Current
Director · appointed in the act of 16-06-2025
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 04-04-2022Owners and capital
Shareholders
At incorporation
act of 04-04-2022 ↗
- ROBEYNS Christophe 490 shares (98%) · €4,900 in cash
- SOCCIO Angélique 10 shares (2%) · €100 in cash
Capital transactions
Capital over time
- 04-04-2022 Incorporation · €5,000 · 500 shares
- 04-04-2022 Incorporation · €5,000 · 500 shares
Mandate history
3 people, 3 in office
- Board
| Name | Functions and periods |
|---|---|
| ROBEYNS Christophe |
|
| LANGLET Mathis |
|
| SOCCIO Angélique |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Plus étendus conférés par articles 2:87 et suivants CSA, après confirmation par Tribunal de l'Entreprise compétent”
Articles of association, deed of 04-04-2022 (in French)
Network & group
BUGESIM shares no director with another company.
Connections & network
3 current directorsThe network starts from the directors of BUGESIM. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
07-07
micro format · 24 days before the deadline
2025
31-12
Financial
Highest result from 2022 to 2025net €25,679 ▲137%
The operating result of €35,545 and the net result of €25,679 are both a record.
02-08
micro format · 2 days late
16-06
Gazette deed
Appointments: ROBEYNS Christophe, SOCCIO Angélique and LANGLET MathisPower of attorney5 points ▸
Gazette deed
Appointments: ROBEYNS Christophe, SOCCIO Angélique and LANGLET Mathis
Power of attorney5 points ▸
- General meeting, 01-04-2025
- Director appointment, ROBEYNS Christophe (director (not named in the articles))
- Director appointment, SOCCIO Angélique (director)
- Director appointment, LANGLET Mathis (director (not named in the articles))
- Power of attorney, Marion de Crombrugghe
2024
20-06
micro format · 41 days before the deadline
2023
31-12
Financial
Back to profitnet €5,060
The net result is €5,060, after one loss-making year.
16-06
micro format · 45 days before the deadline
2022
04-04
Gazette deed
IncorporationStarting capital €5,000 · Appointment: ROBEYNS Christophe (director) · Founder11 points ▸
Gazette deed
Incorporation
Starting capital €5,000 · Appointment: ROBEYNS Christophe (director) · Founder11 points ▸
- Founder, ROBEYNS Christophe (constituant)
- Founder, SOCCIO Angélique (constituant)
- Incorporation, “BUGESIM” (deed in French)
- Founding capital, €5,000, mentioned 2 times in the deed
- Other provision, “plan financier, notaire soussigné” (deed in French)
- Bank account, “Banque CBC - agence de Gosselies, attestation bancaire remise au notaire” (deed in French)
- Other provision, “avantages particuliers attribués à un fondateur ou à une personne ayant participé directement ou indirectement à la constitution” (deed in French)
- Capital
- Director appointment, ROBEYNS Christophe (director (not named in the articles))
- Other provision, “robeyns.christophe@gmail.com, adresse électronique” (deed in French)
- Other provision, “site internet, www.bugesim.be” (deed in French)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
BUGESIM in French
Enterprise number
0784.285.085
Legal form
Private limited company
Status
Active, normale toestand
Founded
31-03-2022
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 04-04-2022 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région wallonne, organe d’administration a le pouvoir de déplacer le siège dans le respect des limites de l’article 2:4 CSA dont respect des…”
deed of 04-04-2022 (in French)Registered office and establishments
Registered office
Rue de l'Empereur(THI) 42, 6230 Pont-à-Celles, Belgium
Establishment unit
BUGESIM, Rue de Namur 3, 6041 Charleroi since 31-03-2022 · unit number 2.330.166.662
Website
www.bugesim.be
E-mail
robeyns.christophe@gmail.com
Activities
NACEBEL 202568310
Real estate agency activities main activity
46180
Agents specialised in the wholesale of other particular products
68121
Development of residential building projects
68122
Development of non-residential building projects
68322
Real estate appraisal on a fee or contract basis
81100
Combined facilities support activities
Codes under NACEBEL 2008
68311
Real estate activities main activity
41101
Real estate development
41102
Construction of residential and non-residential buildings
46180
Wholesale trade
68312
Real estate activities
81100
Combined facilities support activities
Invoicing and payment
VAT number
BE 0784.285.085
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0784.285.085
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of June at 17:00
deed of 04-04-2022 (in French)Sites & property
Location
Buildings and parcels at the addresses
Ground area
3,243 m²
Building footprint
1,093 m²
Building volume
22,471 m³
Tallest building: 31.9 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 52028B0378/00X009 | Wallonia | 2,658 m² | 1 · 983 m² | 31.9 m · 9 |
| 52065B0334/00Z000 | Wallonia | 585 m² | 1 · 110 m² | 8.2 m · 2 |