BUSHI CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of BUSHI CONSTRUCT is 2.3% (moderate). The 2024 annual accounts show equity of €17,904 and a net result of €16,496. Equity is growing by ~69.5% per year across the filed fiscal years. Its solvency ranks better than 76% of 9976 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+77
Solvency92▲+63
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 2.11 against 0.79 in 2023; short-term debt: 33.2% and cash: 15.8% of total assets), and 33.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
66.8%
Return on assets
61.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-08-2025, 23 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
23 d late
2023
126 d late
2021
11 d late
2020
13 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 43 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€17,904▲ 1,171%
2023 · €1,409
Total assets
€26,817▼ 25.6%
2023 · €36,063
Net result
€16,496
2023 · -€3,332
Working capital
€9,907
2023 · -€7,270
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
Line2020202120232024
Operating result€536-€3,458▲ 545%-€3,133-€16,552
Net result€358-€3,380▲ 845%-€3,332-€16,496
Equity€3,358-€6,738▲ 101%€1,409-€17,904▲ 1,171%
Total assets€37,458-€40,107▲ 7.1%€36,063-€26,817▼ 25.6%
Debt€34,100-€33,369▼ 2.1%€34,654-€8,913▼ 74.3%
Working capital-€4,287--€5,906▼ 37.8%-€7,270-€9,907
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €16,552 after a loss of €3,133 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €26,817
Fixed assets
€7,997 ▼ 7.9%
Current assets
€18,820 ▼ 31.3%
Equity and liabilities €26,817
Equity
€17,904 ▲ 1,171%
Debt
€8,913 ▼ 74.3%
Debt's share of the balance-sheet total falls from 96.1% to 33.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,287▲
2023 · €377
Cash flow
€19,231▲
2023 · €177
Current ratio
2.11▲
2023 · 0.79
Debt to equity
0.50▼
2023 · 24.60
ROE
92.1%▲
2023 · -236.5%
ROA
61.5%▲
2023 · -9.2%
Interest coverage
342.58▲
2023 · 1.89
Debt ≤ 1 year
€8,913▼
2023 · €34,654
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €20 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,845 | €7,780 | €3,510 | €2,735 | ▼ 22.1% |
| Other operating charges640/8 | - | €258 | €671 | €1,590 | ▲ 137% |
| Gross operating margin9900 | €7,464 | €11,496 | €1,048 | €20,877 | ▲ 1,892% |
| Operating profit (loss)9901 | €536 | €3,458 | -€3,133 | €16,552 | ▲ 628% |
| Financial charges65/66B | - | €78 | €200 | €56 | ▼ 71.8% |
| Recurring financial charges65 | €178 | €78 | €200 | €56 | ▼ 71.8% |
| Profit (loss) for the period before taxes9903 | €358 | €3,380 | -€3,332 | €16,496 | ▲ 595% |
| Profit (loss) for the period9904 | €358 | €3,380 | -€3,332 | €16,496 | ▲ 595% |
| Profit (loss) for the period to be appropriated9905 | €358 | €3,380 | -€3,332 | €16,496 | ▲ 595% |
| Line | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €37,458 | €40,107 | €36,063 | €26,817 | ▼ 25.6% |
| Fixed assets21/28 | €7,645 | €12,644 | €8,679 | €7,997 | ▼ 7.9% |
| Tangible fixed assets22/27 | €7,645 | €12,644 | €8,679 | €7,997 | ▼ 7.9% |
| Plant, machinery and equipment23 | - | €12,644 | €8,679 | €7,997 | ▼ 7.9% |
| Current assets29/58 | €29,813 | €27,463 | €27,384 | €18,820 | ▼ 31.3% |
| Stocks and contracts in progress3 | - | €4,550 | €9,077 | - | - |
| Stocks30/36 | - | €4,550 | - | - | - |
| Contracts in progress37 | - | - | €9,077 | - | - |
| Amounts receivable within one year40/41 | €17,742 | €9,913 | €10,503 | €14,578 | ▲ 38.8% |
| Trade receivables40 | - | €5,685 | €3,137 | €10,942 | ▲ 249% |
| Other amounts receivable41 | - | €4,228 | €7,367 | €3,635 | ▼ 50.7% |
| Cash at bank and in hand54/58 | €12,071 | €13,000 | €7,380 | €4,242 | ▼ 42.5% |
| Deferred charges and accrued income490/1 | - | - | €423 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €37,458 | €40,107 | €36,063 | €26,817 | ▼ 25.6% |
| Equity10/15 | €3,358 | €6,738 | €1,409 | €17,904 | ▲ 1,171% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Capital10 | - | €3,000 | €3,000 | €3,000 | = |
| Issued capital100 | - | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €358 | €3,738 | -€1,591 | €14,904 | ▲ 1,037% |
| Amounts payable17/49 | €34,100 | €33,369 | €34,654 | €8,913 | ▼ 74.3% |
| Amounts payable within one year42/48 | €34,100 | €33,369 | €34,654 | €8,913 | ▼ 74.3% |
| Trade debts44 | - | €634 | €315 | €2,229 | ▲ 607% |
| Suppliers440/4 | - | €634 | €315 | €2,229 | ▲ 607% |
| Taxes, remuneration and social security45 | - | €3,900 | €6,000 | - | - |
| Taxes450/3 | - | €3,900 | - | - | - |
| Remuneration and social security454/9 | - | - | €6,000 | - | - |
| Other amounts payable47/48 | - | €28,835 | €28,339 | €6,684 | ▼ 76.4% |
| Line | 2020 | 2021 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €358 | €3,380 | -€3,332 | €16,496 | ▲ 595% |
| + Depreciation and write-downs630 | €6,845 | €7,780 | €3,510 | €2,735 | ▼ 22.1% |
| Operating cash flow (approximation) | €7,203 | €11,160 | €177 | €19,231 | ▲ 10,740% |
| Investment in fixed assets (approximation) | - | -€12,779 | - | -€2,054 | - |
| Change in cash | - | €929 | - | -€3,138 | - |
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
2025
23-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 23 days late
2024
31-12
Financial
Back to profitnet €16,496
Net result €16,496 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.11
Current ratio from 0.79 to 2.11; short-term debt falls from €34,654 to €8,913.
04-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 126 days late
2023
31-12
Financial
Weakest financial yearnet -€3,332
Net result drops to -€3,332, the lowest in the series; recovery starts the following year.
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 11 days late
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Namur · 1 establishment unit since 2019
Ground area
607 m²
Building footprint
65 m²
Volume, LiDAR
646 m³
Parcel 92010D0273/00H015, Wallonia · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BUSHI CONSTRUCT
since 20192.297.735.604
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92010D0273/00H015 | Wallonia | 607 m² | 1 · 65 m² | 11.3 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.
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Of 2,454 companies in sector 41003 we hold annual accounts for 1,055. 588 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
Founded04-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
41002Construction of residential and non-residential buildings
Scores and ratios are computed by Checked and are not a credit decision.