Busschaert Projects
ActiveSummary
The computed 12-month bankruptcy probability of Busschaert Projects is 2.2% (moderate). The 2024 annual accounts show equity of €87,991 and a net result of €43,542. Equity is growing by ~142.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 9975 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability87▼-9
Solvency54▲+4
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.42 in 2023; short-term debt: 36.9% and cash: 36.5% of total assets), and 71.1% of the assets are financed with debt.
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Signals
Four 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
28.9%
Return on assets
14.3%
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 26-09-2025, 57 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
57 d late
2023
61 d late
2022
31 d late
2021
124 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 68 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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 2024, micro schema
Equity
€87,991▲ 98.0%
2023 · €44,450
Total assets
€304,821▲ 68.3%
2023 · €181,066
Net result
€43,542▲ 8.4%
2023 · €40,165
Working capital
€27,233▼ 23.9%
2023 · €35,779
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line2021202220232024
Operating result-€4,812-€4,957€51,256▲ 934%€64,085▲ 25.0%
Net result-€5,023below the sector's middle half-€4,307within the sector's middle half€40,165above the sector's middle half▲ 832%€43,542above the sector's middle half▲ 8.4%
Equity-€23below the sector's middle half-€4,285below the sector's middle half€44,450within the sector's middle half▲ 937%€87,991within the sector's middle half▲ 98.0%
Total assets€64,962within the sector's middle half-€131,341within the sector's middle half▲ 102%€181,066within the sector's middle half▲ 37.9%€304,821above the sector's middle half▲ 68.3%
Debt€64,985-€127,056▲ 95.5%€136,616▲ 7.5%€216,830▲ 58.7%
Working capital-€6,450below the sector's middle half--€51below the sector's middle half▲ 99.2%€35,779within the sector's middle half€27,233within the sector's middle half▼ 23.9%
Solvency0.0%below the sector's middle half-3.3%below the sector's middle half▲ 3.3pp24.5%within the sector's middle half▲ 21.3pp28.9%within the sector's middle half▲ 4.3pp
Current ratio0.86below the sector's middle half-1.00below the sector's middle half▲ 0.141.42within the sector's middle half▲ 0.421.24within the sector's middle half▼ 0.18
Return on assets (ROA)-7.7%below the sector's middle half-3.3%within the sector's middle half▲ 11.0pp22.2%above the sector's middle half▲ 18.9pp14.3%within the sector's middle half▼ 7.9pp
Staff (FTE)1-2▲ 100%2=1.8▼ 10.0%
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
The operating result has risen three years in a row; 2024 is 25% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €304,821
Fixed assets
€165,012 ▲ 171%
Current assets
€139,809 ▲ 16.4%
Equity and liabilities €304,821
Equity
€87,991 ▲ 98.0%
Debt
€216,830 ▲ 58.7%
Debt's share of the balance-sheet total falls from 75.5% to 71.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€88,631▲
2023 · €64,322
Cash flow
€68,088▲
2023 · €53,231
Debt to equity
2.46▼
2023 · 3.07
ROE
49.5%▼
2023 · 90.4%
Interest coverage
23.29▼
2023 · 44.16
Debt ≤ 1 year
€112,576▲
2023 · €84,348
Debt > 1 year
€104,254▲
2023 · €52,268
Income taxes
€17,231▲
2023 · €9,790
Staff costs
€73,252▼
2023 · €102,692
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 6,706 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 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €42,183 | €98,627 | €102,692 | €73,252 | ▼ 28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,709 | €11,005 | €13,066 | €24,546 | ▲ 87.9% |
| Other operating charges640/8 | €762 | €1,529 | €2,450 | €1,923 | ▼ 21.5% |
| Non-recurring operating charges66A | - | €11,410 | - | - | - |
| Gross operating margin9900 | €41,842 | €127,528 | €169,463 | €163,806 | ▼ 3.3% |
| Operating profit (loss)9901 | -€4,812 | €4,957 | €51,256 | €64,085 | ▲ 25.0% |
| Financial income75/76B | €144 | €417 | €156 | €493 | ▲ 216% |
| Recurring financial income75 | €144 | €417 | €156 | €493 | ▲ 216% |
| Financial charges65/66B | €134 | €1,067 | €1,457 | €3,805 | ▲ 161% |
| Recurring financial charges65 | €134 | €1,067 | €1,457 | €3,805 | ▲ 161% |
| Profit (loss) for the period before taxes9903 | -€4,802 | €4,307 | €49,955 | €60,773 | ▲ 21.7% |
| Income taxes67/77 | €220 | - | €9,790 | €17,231 | ▲ 76.0% |
| Profit (loss) for the period9904 | -€5,023 | €4,307 | €40,165 | €43,542 | ▲ 8.4% |
| Profit (loss) for the period to be appropriated9905 | -€5,023 | €4,307 | €40,165 | €43,542 | ▲ 8.4% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €64,962 | €131,341 | €181,066 | €304,821 | ▲ 68.3% |
| Fixed assets21/28 | €24,918 | €67,031 | €60,938 | €165,012 | ▲ 171% |
| Tangible fixed assets22/27 | €24,918 | €67,031 | €60,938 | €165,012 | ▲ 171% |
| Plant, machinery and equipment23 | €418 | €53,431 | €48,404 | €47,413 | ▼ 2.0% |
| Furniture and vehicles24 | €24,500 | €13,600 | €12,534 | €117,599 | ▲ 838% |
| Current assets29/58 | €40,044 | €64,310 | €120,128 | €139,809 | ▲ 16.4% |
| Stocks and contracts in progress3 | €12,000 | €7,000 | €20,000 | - | - |
| Contracts in progress37 | €12,000 | €7,000 | €20,000 | - | - |
| Amounts receivable within one year40/41 | €9,676 | €20,982 | €39,647 | €26,546 | ▼ 33.0% |
| Trade receivables40 | €9,676 | €20,982 | €34,508 | €22,266 | ▼ 35.5% |
| Other amounts receivable41 | - | - | €5,139 | €4,280 | ▼ 16.7% |
| Cash at bank and in hand54/58 | €18,368 | €36,328 | €60,481 | €111,174 | ▲ 83.8% |
| Deferred charges and accrued income490/1 | - | - | - | €2,089 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €64,962 | €131,341 | €181,066 | €304,821 | ▲ 68.3% |
| Equity10/15 | -€23 | €4,285 | €44,450 | €87,991 | ▲ 98.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | - | - | €43,000 | - |
| Distributable reserves133 | - | - | - | €43,000 | - |
| Profit (loss) carried forward14 | -€5,023 | -€715 | €39,450 | €39,991 | ▲ 1.4% |
| Amounts payable17/49 | €64,985 | €127,056 | €136,616 | €216,830 | ▲ 58.7% |
| Amounts payable after more than one year17 | €18,490 | €62,696 | €52,268 | €104,254 | ▲ 99.5% |
| Financial debts170/4 | €18,490 | €62,696 | €52,268 | €104,254 | ▲ 99.5% |
| Amounts payable within one year42/48 | €46,495 | €64,361 | €84,348 | €112,576 | ▲ 33.5% |
| Current portion of amounts payable after more than one year42 | €4,893 | €10,254 | €10,709 | €23,816 | ▲ 122% |
| Trade debts44 | €34,727 | €46,777 | €72,064 | €68,449 | ▼ 5.0% |
| Suppliers440/4 | €34,727 | €46,777 | €72,064 | €68,449 | ▼ 5.0% |
| Taxes, remuneration and social security45 | €6,761 | €7,216 | €1,462 | €14,710 | ▲ 906% |
| Taxes450/3 | €3,242 | €6,932 | - | €12,218 | - |
| Remuneration and social security454/9 | €3,518 | €284 | €1,462 | €2,492 | ▲ 70.5% |
| Other amounts payable47/48 | €114 | €114 | €114 | €5,600 | ▲ 4,824% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,023 | €4,307 | €40,165 | €43,542 | ▲ 8.4% |
| + Depreciation and write-downs630 | €3,709 | €11,005 | €13,066 | €24,546 | ▲ 87.9% |
| Operating cash flow (approximation) | -€1,314 | €15,312 | €53,231 | €68,088 | ▲ 27.9% |
| Investment in fixed assets (approximation) | - | -€53,118 | -€6,973 | -€128,620 | ▼ 1,745% |
| Change in cash | - | €17,960 | €24,152 | €50,694 | ▲ 110% |
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
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Highest result since 2021net €43,542 ▲8.4%
Operating result €64,085, net result €43,542, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €4,307
Net result €4,307 after one loss-making year.
02-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 124 days late
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.
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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, Brugge · 1 establishment unit since 2021
Ground area
437 m²
Building footprint
102 m²
Volume, LiDAR
693 m³
Parcel 31027D0540/00B003, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Busschaert Projects
since 20212.313.151.278
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31027D0540/00B003 | Flanders | 437 m² | 1 · 102 m² | 8.0 m · 2 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 · 1 entry · 142 EUR awarded · 142 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 142 EUR | 142 EUR |
Recognitions · licences · registrations
Dual-learning approval
2 live approvalsMedewerker ruwbouw (vwo)
Medewerker ruwbouw duaal (so)
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 13,171 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
Founded27-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43910Bricklaying and masonry work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0762566983
Also
9925:BE0762566983
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.