BUSEO
ActiveSummary
BUSEO has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,905 and a net result of €7,206. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 34% of 4579 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-4
Solvency51▼-40
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.31 against 2.9 in 2024; short-term debt: 73.7% and cash: 42.5% of total assets), and 73.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
26.3%
Return on assets
10%
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
14 d early
2023
47 d early
2022
34 d early
2021
125 d early
2020
53 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 43 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€18,905▼ 54.7%
2024 · €41,699
Total assets
€71,997▲ 13.9%
2024 · €63,198
Net result
€7,206▼ 11.9%
2024 · €8,179
Working capital
€16,314▼ 60.1%
2024 · €40,839
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape 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
Line20212022202320242025
Operating result€6,381€8,793▲ 37.8%-€3,100€6,773€10,744▲ 58.6%
Net result€4,728within the sector's middle half€5,619within the sector's middle half▲ 18.8%-€6,157below the sector's middle half€8,179within the sector's middle half€7,206within the sector's middle half▼ 11.9%
Equity€34,057within the sector's middle half▲ 16.1%€39,676within the sector's middle half▲ 16.5%€33,519within the sector's middle half▼ 15.5%€41,699within the sector's middle half▲ 24.4%€18,905within the sector's middle half▼ 54.7%
Total assets€60,961below the sector's middle half▲ 23.8%€70,421within the sector's middle half▲ 15.5%€54,108below the sector's middle half▼ 23.2%€63,198within the sector's middle half▲ 16.8%€71,997within the sector's middle half▲ 13.9%
Debt€26,904▲ 35.2%€30,745▲ 14.3%€20,589▼ 33.0%€21,499▲ 4.4%€53,092▲ 147%
Working capital€30,894within the sector's middle half▲ 22.5%€37,453within the sector's middle half▲ 21.2%€32,353within the sector's middle half▼ 13.6%€40,839within the sector's middle half▲ 26.2%€16,314within the sector's middle half▼ 60.1%
Solvency55.9%within the sector's middle half▼ 3.7pp56.3%within the sector's middle half▲ 0.5pp61.9%within the sector's middle half▲ 5.6pp66.0%above the sector's middle half▲ 4.0pp26.3%within the sector's middle half▼ 39.7pp
Current ratio2.15within the sector's middle half▼ 0.122.22within the sector's middle half▲ 0.072.57within the sector's middle half▲ 0.352.90above the sector's middle half▲ 0.331.31within the sector's middle half▼ 1.59
Return on assets (ROA)7.8%within the sector's middle half▲ 26.0pp8.0%within the sector's middle half▲ 0.2pp-11.4%below the sector's middle half▼ 19.4pp12.9%within the sector's middle half▲ 24.3pp10.0%within the sector's middle half▼ 2.9pp
Staff (FTE)1.40.2
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 59% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €71,997
Fixed assets
€2,590 ▲ 201%
Current assets
€69,406 ▲ 11.3%
Equity and liabilities €71,997
Equity
€18,905 ▼ 54.7%
Debt
€53,092 ▲ 147%
Debt's share of the balance-sheet total rises from 34.0% to 73.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€11,473▲
2024 · €7,079
Cash flow
€7,935▼
2024 · €8,486
Debt to equity
2.81▲
2024 · 0.52
ROE
38.1%▲
2024 · 19.6%
Interest coverage
21.38▼
2024 · 50.72
Debt ≤ 1 year
€53,092▲
2024 · €21,499
Income taxes
€3,145▲
2024 · -€1,470
Staff costs
€1,413▲
2024 · €2
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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%.
| 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 5,053 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €15,752 | €16,092 | €2 | €1,413 | ▲ 69,521% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €937 | €1,476 | €1,056 | €307 | €729 | ▲ 138% |
| Other operating charges640/8 | - | €1,497 | €1,821 | €7,327 | €641 | ▼ 91.2% |
| Gross operating margin9900 | €41,026 | €27,518 | €15,870 | €14,408 | €13,528 | ▼ 6.1% |
| Operating profit (loss)9901 | €6,381 | €8,793 | -€3,100 | €6,773 | €10,744 | ▲ 58.6% |
| Financial income75/76B | - | - | - | €77 | €144 | ▲ 87.4% |
| Recurring financial income75 | - | - | - | €77 | €144 | ▲ 87.4% |
| Financial charges65/66B | - | €57 | €57 | €140 | €537 | ▲ 284% |
| Recurring financial charges65 | €1,652 | €57 | €57 | €140 | €537 | ▲ 284% |
| Profit (loss) for the period before taxes9903 | €4,728 | €8,736 | -€3,157 | €6,710 | €10,351 | ▲ 54.3% |
| Income taxes67/77 | - | €3,117 | €3,000 | -€1,470 | €3,145 | ▲ 314% |
| Profit (loss) for the period9904 | €4,728 | €5,619 | -€6,157 | €8,179 | €7,206 | ▼ 11.9% |
| Profit (loss) for the period to be appropriated9905 | €4,728 | €5,619 | -€6,157 | €8,179 | €7,206 | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €60,961 | €70,421 | €54,108 | €63,198 | €71,997 | ▲ 13.9% |
| Fixed assets21/28 | €3,163 | €2,223 | €1,167 | €860 | €2,590 | ▲ 201% |
| Tangible fixed assets22/27 | €2,303 | €1,363 | €307 | €0 | €1,730 | - |
| Plant, machinery and equipment23 | - | €1,363 | €307 | €0 | €1,730 | - |
| Financial fixed assets28 | €860 | €860 | €860 | €860 | €860 | = |
| Current assets29/58 | €57,798 | €68,198 | €52,942 | €62,338 | €69,406 | ▲ 11.3% |
| Amounts receivable within one year40/41 | €31,777 | €44,871 | €40,800 | €37,010 | €38,502 | ▲ 4.0% |
| Trade receivables40 | - | €39,291 | €27,397 | €34,968 | €37,459 | ▲ 7.1% |
| Other amounts receivable41 | - | €5,580 | €13,403 | €2,042 | €1,043 | ▼ 48.9% |
| Cash at bank and in hand54/58 | €26,021 | €23,326 | €12,142 | €24,380 | €30,573 | ▲ 25.4% |
| Deferred charges and accrued income490/1 | - | - | - | €947 | €331 | ▼ 65.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €60,961 | €70,421 | €54,108 | €63,198 | €71,997 | ▲ 13.9% |
| Equity10/15 | €34,057 | €39,676 | €33,519 | €41,699 | €18,905 | ▼ 54.7% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Capital10 | - | €12,400 | €0 | - | - | - |
| Issued capital100 | - | €18,550 | €0 | - | - | - |
| Uncalled capital101 | - | €6,150 | €0 | - | - | - |
| Outside capital11 | - | - | €12,400 | - | - | - |
| Other1109/19 | - | - | €12,400 | - | - | - |
| Reserves13 | €1,697 | €1,697 | €1,697 | €1,697 | €1,697 | = |
| Non-distributable reserves130/1 | - | €1,697 | €1,697 | €1,697 | €1,697 | = |
| Legal reserve130 | - | €1,697 | €1,697 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,697 | €1,697 | = |
| Profit (loss) carried forward14 | €19,960 | €25,580 | €19,423 | €27,602 | €4,808 | ▼ 82.6% |
| Amounts payable17/49 | €26,904 | €30,745 | €20,589 | €21,499 | €53,092 | ▲ 147% |
| Amounts payable within one year42/48 | €26,904 | €30,745 | €20,589 | €21,499 | €53,092 | ▲ 147% |
| Trade debts44 | €8,438 | €15,045 | €14,387 | €12,528 | €9,537 | ▼ 23.9% |
| Suppliers440/4 | - | €15,045 | €14,387 | €12,528 | €9,537 | ▼ 23.9% |
| Taxes, remuneration and social security45 | - | €4,614 | €858 | €2,113 | €12,533 | ▲ 493% |
| Taxes450/3 | - | - | - | €2,113 | €9,085 | ▲ 330% |
| Remuneration and social security454/9 | - | €4,614 | €858 | €0 | €3,448 | - |
| Other amounts payable47/48 | - | €11,085 | €5,345 | €6,859 | €31,023 | ▲ 352% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,728 | €5,619 | -€6,157 | €8,179 | €7,206 | ▼ 11.9% |
| + Depreciation and write-downs630 | €937 | €1,476 | €1,056 | €307 | €729 | ▲ 138% |
| Operating cash flow (approximation) | €5,666 | €7,095 | -€5,101 | €8,486 | €7,935 | ▼ 6.5% |
| Investment in fixed assets (approximation) | - | -€536 | €0 | €0 | -€2,460 | - |
| Change in cash | - | -€2,694 | -€11,185 | €12,239 | €6,192 | ▼ 49.4% |
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
31-08
State Gazette act
Appointment: Allan CUYPERS (director)Registered-office move · Power of attorney4 facts ▸
State Gazette act
Appointment: Allan CUYPERS (director)
Registered-office move · Power of attorney4 facts ▸
- General meeting, 29-07-2026
- Director appointment, Allan CUYPERS (director)
- Registered-office move, Miergemstraat 109, 1785 Merchtem
- Power of attorney, MOORE SERVICES FINANCIERS BV
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €8,179
Net result €8,179 after one loss-making year.
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €4,728
Net result €4,728 after one loss-making year.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€8,978
Net result drops to -€8,978, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €29,845 ▲41.7%
Operating result €35,210, net result €29,845, both a record.
Show earlier events
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Allan CUYPERS
CurrentDirector · since 29-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Merchtem · 1 establishment unit since 2014
Ground area
236 m²
Building footprint
83 m²
Volume, LiDAR
750 m³
Parcel 23602I0015/00X003, Flanders · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Mieregemstraat 109, 1785 Merchtem
since 20142.231.509.645
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23602I0015/00X003 | Flanders | 236 m² | 1 · 83 m² | 12.4 m · 3 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Allan CUYPERS |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 7,364 companies in sector 81210 we hold annual accounts for 2,741. 2,095 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
Founded04-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
81210General cleaning of buildings
81220Other building cleaning and industrial cleaning
81230Other cleaning activities
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0553609484
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.