Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of BUSCO is 0.6% (low). The 2024 annual accounts show equity of €1.15M and a net result of €36k. Its solvency ranks better than 46% of 1709 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 2 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.6%
Low
0%0,5%1,5%4%10%≥25%
Young company
+Lower-failure-rate sector
−Lower-risk legal form
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 32 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 2 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 24-07-2025 | 7 d early | 2025-00305298 |
| 31-12-2023 | 31-07-2024 | 13-08-2024 | 13 d late | 2024-00343035 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2022, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€36k
Working capital€-60k+82.5%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 24-07-2025 with the NBB · fiscal year 2024 · verkort
Sector comparison
Fiscal year 2024 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 11.2% | 14.4% | |
| Net result | €36k | €0 | |
| Equity | €1.15M | €109k | |
| Gross operating margin | €761k | €51k | |
| Total assets | €10.21M | €1.50M |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€669k
-
23-24
€36k
-
23-24
€304k
-
23-24
€10.21M
-0.6%
23-24
€1.15M
+3.3%
23-24
€-60k
+82.5%
23-24
€9.06M
-1.0%
23-24
€418k
-15.6%
23-24
Show 8 other metrics
€8.60M
+0.7%
23-24
0.86
+176.8%
23-24
0.62
+434.1%
23-24
11.2%
+3.9%
23-24
7.91
-4.2%
23-24
3.2%
-
23-24
0.4%
-
23-24
1.83
-
23-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €669k |
| Net profit | €36k |
| Cash flow | €304k |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €10.21M |
| Equity | €1.15M |
| Debt | €9.06M |
| of which ≤ 1y | €418k |
| of which > 1y | €8.60M |
| Working capital | €-60k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.86 |
| Quick ratio | 0.62 |
| Working capital ratio | -0.6% |
| Solvency | 11.2% |
| Debt / equity | 7.91 |
| Long-term debt ratio | 7.50 |
| Interest coverage | 1.83 |
| Gross margin | - |
| Net margin | - |
| ROA | 0.4% |
| ROE | 3.2% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €10.21M |
| Fixed assets | 21/28 | €9.85M |
| Tangible fixed assets | 22/27 | €9.85M |
| Current assets | 29/58 | €359k |
| Stocks & contracts in progress | 3 | €99k |
| Amounts receivable within one year | 40/41 | €141k |
| Cash & bank | 54/58 | €98k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €10.21M |
| Equity | 10/15 | €1.15M |
| Contributions / capital | 10/11 | €2.00M |
| Accumulated profits (losses) | 14 | €-854k |
| Amounts payable | 17/49 | €9.06M |
| Amounts payable after one year | 17 | €8.60M |
| Amounts payable within one year | 42/48 | €418k |
| Trade debts payable within one year | 44 | €37k |
| Income statement | ||
| Gross operating margin | 9900 | €761k |
| Operating result | 9901 | €401k |
| Financial income | 75 | €271 |
| Financial charges | 65 | €365k |
| Result before taxes | 9903 | €36k |
| Net result for the period | 9904 | €36k |
| Result to be appropriated | 9905 | €36k |
This table shows the latest fiscal year. 1 prior year, with figures and ratios, belongs to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed44
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
3 directors2 of this company's 2 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.
Current directors & mandates
-
Cemath Consult BVLegal entityDirector· perm. rep.: Hans DegrandeState Gazette act 23038871 (20-03-2023)Current23-03-2023 → present
-
RA Invest BVLegal entityDirector· perm. rep.: Vincent LonguevilleState Gazette act 23038871 (20-03-2023)Current23-03-2023 → present
2 events
- 23-03-2023 Appointed· Director
- 23-03-2023 Appointed· Managing director
Former directors (1)
-
Fineli CommVLegal entityManaging director· perm. rep.: Dorine LambertState Gazette act 23038871 (20-03-2023)Former- → 23-03-2023
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Ontwikkeling van residentiële bouwprojecten(68121) |
| Legal form | Public limited company(014) |
| Incorporation | 26-12-2022 |
| Status | Active |
| Postal code | 9820 |
Structure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationBUSCO
since 20222.342.398.956
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area3,253 m²
Buildings1
Building footprint1,425 m²
Volume (LiDAR)9,696 m³
Tallest building8.0 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0818/00D000 | Flanders | 3,253 m² | 1 · 1,425 m² | 8.0 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 act All acts · 1
updated 3 years ago
2023
20-03-2023 3 directors appointed, 1 resigning
- Vincent Longueville, Bestuurder
- Hans Degrande, Bestuurder
- Vincent Longueville, Gedelegeerd bestuurder
- Dorine Lambert, Gedelegeerd bestuurder
Analysis
Financial profile
5 of 5 axes measured49
/ 100
Mixed profile: strong on stability, weaker on solvency.
All 5 axes are computed from data Checked has read.
Health
44
Profitability
16
Solvency
15
Growth
78
Stability
94
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 2,018 of the 9,650 companies in this sector. 661 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Ontwikkeling van residentiële bouwprojecten68121Handel in eigen onroerend goed68110Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen68203
Primary activity highlighted.
Names & trade names
| Legal nameNL | BUSCO |
Registered office
Heidestraat 9
9820 Merelbeke-Melle, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.