BUSARD
ActiveSummary
BUSARD has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €971,537 and a net result of -€17,808. Its solvency ranks better than 95% of 14173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-49
Solvency100=
Growth78
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
short-term debt: 0% and cash: 3.5% of total assets, and 0% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 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
100%
Return on assets
-1.8%
Age of the figures
9 mo
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 08-06-2026, 53 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
53 d early
2024
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 2 accounts on average 52 days before 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€971,537▲ 10.8%
2024 · €876,598
Total assets
€971,580▲ 10.3%
2024 · €880,596
Net result
-€17,808▲ 36.3%
2024 · -€27,961
Working capital
€248,019▲ 33.5%
2024 · €185,721
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
Line20242025
Operating result-€29,118--€21,138▲ 27.4%
Net result-€27,961--€17,808▲ 36.3%
Equity€876,598-€971,537▲ 10.8%
Total assets€880,596-€971,580▲ 10.3%
Debt€3,998-€43▼ 98.9%
Working capital€185,721-€248,019▲ 33.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,138 in 2025 against €29,118 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €971,580
Fixed assets
€723,518 ▲ 4.3%
Current assets
€248,062 ▲ 32.5%
Equity and liabilities €971,580
Equity
€971,537 ▲ 10.8%
Debt
€43 ▼ 98.9%
Debt's share of the balance-sheet total falls from 0.5% to 0.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1,287▼
2024 · €9,620
Cash flow
€2,042▼
2024 · €10,776
Debt to equity
0.00▼
2024 · 0.00
ROE
-1.8%▲
2024 · -3.2%
ROA
-1.8%▲
2024 · -3.2%
Interest coverage
-28.61▼
2024 · 152.69
Debt ≤ 1 year
€43▼
2024 · €1,468
A ratio outside any meaningful range has been withheld (balance sheet total €971,580, equity €971,537).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,738 | €19,850 | ▼ 48.8% |
| Other operating charges640/8 | €2,635 | €2,474 | ▼ 6.1% |
| Gross operating margin9900 | €12,255 | €1,187 | ▼ 90.3% |
| Operating profit (loss)9901 | -€29,118 | -€21,138 | ▲ 27.4% |
| Financial income75/76B | €1,220 | €3,375 | ▲ 177% |
| Recurring financial income75 | €1,220 | €3,375 | ▲ 177% |
| Financial charges65/66B | €63 | €45 | ▼ 28.6% |
| Recurring financial charges65 | €63 | €45 | ▼ 28.6% |
| Profit (loss) for the period before taxes9903 | -€27,961 | -€17,808 | ▲ 36.3% |
| Profit (loss) for the period9904 | -€27,961 | -€17,808 | ▲ 36.3% |
| Profit (loss) for the period to be appropriated9905 | -€27,961 | -€17,808 | ▲ 36.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €880,596 | €971,580 | ▲ 10.3% |
| Fixed assets21/28 | €693,407 | €723,518 | ▲ 4.3% |
| Tangible fixed assets22/27 | €693,407 | €723,518 | ▲ 4.3% |
| Land and buildings22 | €683,246 | €720,333 | ▲ 5.4% |
| Plant, machinery and equipment23 | €4,111 | €3,185 | ▼ 22.5% |
| Assets under construction and advance payments27 | €6,050 | €0 | ▼ 100% |
| Current assets29/58 | €187,189 | €248,062 | ▲ 32.5% |
| Amounts receivable within one year40/41 | - | €4,242 | - |
| Trade receivables40 | - | €3,747 | - |
| Other amounts receivable41 | - | €495 | - |
| Current investments50/53 | - | €205,000 | - |
| Cash at bank and in hand54/58 | €126,058 | €34,349 | ▼ 72.8% |
| Deferred charges and accrued income490/1 | €61,131 | €4,471 | ▼ 92.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €880,596 | €971,580 | ▲ 10.3% |
| Equity10/15 | €876,598 | €971,537 | ▲ 10.8% |
| Contributions10/11 | €880,000 | €970,000 | ▲ 10.2% |
| Profit (loss) carried forward14 | -€27,961 | -€45,769 | ▼ 63.7% |
| Investment grants15 | €24,559 | €47,307 | ▲ 92.6% |
| Amounts payable17/49 | €3,998 | €43 | ▼ 98.9% |
| Amounts payable within one year42/48 | €1,468 | €43 | ▼ 97.1% |
| Trade debts44 | €1,468 | €43 | ▼ 97.1% |
| Suppliers440/4 | €1,468 | €43 | ▼ 97.1% |
| Accrued charges and deferred income492/3 | €2,530 | €0 | ▼ 100% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€27,961 | -€17,808 | ▲ 36.3% |
| + Depreciation and write-downs630 | €38,738 | €19,850 | ▼ 48.8% |
| Operating cash flow (approximation) | €10,776 | €2,042 | ▼ 81.0% |
| Investment in fixed assets (approximation) | - | -€49,962 | - |
| Change in cash | - | -€91,709 | - |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity times 45current ratio 5768.89
Current ratio from 127.55 to 5768.89; short-term debt falls from €1,468 to €43.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Kortrijk · 1 establishment unit since 2023
Ground area
531 m²
Building footprint
117 m²
Volume, LiDAR
1,099 m³
Parcel 34353B0138/00C011, Flanders · tallest building 12.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
BUSARD
since 20232.355.761.497
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34353B0138/00C011 | Flanders | 531 m² | 1 · 117 m² | 12.2 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 4 entries · 56,862 EUR awarded · 45,757 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 10,637 EUR | 45,757 EUR |
| 2024 | 2 | 46,225 EUR | 0 EUR |
Similar companies · same sector, comparable size
ADIMO
BE 0726.840.103
Awans · Eq €971,526
Budget Meubelen
BE 0407.567.274
Hulshout · Eq €973,334
GUNIMO
BE 0427.878.282
Dilsen-Stokkem · Eq €973,340
LIEVENS
BE 0422.232.189
Londerzeel · Eq €973,687
Abeelimmo
BE 0421.151.531
Izegem · Eq €973,787
Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 4,149 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
Founded20-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.