BUZLU
ActiveSummary
The computed 12-month bankruptcy probability of BUZLU is 2.7% (moderate). The 2025 annual accounts show equity of €50,408 and a net result of €9,589. Equity is growing by ~7.8% per year across the filed fiscal years. Its solvency ranks better than 40% of 18606 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+7
Solvency48▲+10
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.75 in 2024; short-term debt: 72.5% and cash: 18.9% of total assets), and 77.3% of the assets are financed with debt.
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Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
22.7%
Return on assets
4.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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 · 6 filingsDeviation from the deadline
2025
25 d late
2024
56 d late
2023
57 d late
2022
26 d late
2021
45 d early
2020
29 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 25 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 (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. Usually files around 26 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 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 check 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 Which of your other customers can you e-invoice via Peppol?Peppol check 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
€50,408▲ 23.5%
2024 · €40,819
Total assets
€222,096▼ 28.2%
2024 · €309,524
Net result
€9,589▲ 2,232%
2024 · €411
Working capital
-€50,938▲ 14.2%
2024 · -€59,351
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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€19,914▲ 113%€8,086▼ 59.4%€6,245▼ 22.8%€10,304▲ 65.0%€19,396▲ 88.2%
Net result€13,492within the sector's middle half▲ 256%€2,914within the sector's middle half▼ 78.4%€209within the sector's middle half▼ 92.8%€411within the sector's middle half▲ 97.2%€9,589within the sector's middle half▲ 2,232%
Equity€37,285within the sector's middle half▲ 56.7%€40,199within the sector's middle half▲ 7.8%€40,408within the sector's middle half▲ 0.5%€40,819within the sector's middle half▲ 1.0%€50,408within the sector's middle half▲ 23.5%
Total assets€326,568above the sector's middle half▼ 4.3%€275,646within the sector's middle half▼ 15.6%€314,179within the sector's middle half▲ 14.0%€309,524within the sector's middle half▼ 1.5%€222,096within the sector's middle half▼ 28.2%
Debt€289,283▼ 8.9%€235,447▼ 18.6%€273,771▲ 16.3%€268,705▼ 1.9%€171,688▼ 36.1%
Working capital-€59,702below the sector's middle half▼ 33.2%-€62,790below the sector's middle half▼ 5.2%-€61,505below the sector's middle half▲ 2.0%-€59,351below the sector's middle half▲ 3.5%-€50,938below the sector's middle half▲ 14.2%
Solvency11.4%within the sector's middle half▲ 4.4pp14.6%within the sector's middle half▲ 3.2pp12.9%within the sector's middle half▼ 1.7pp13.2%within the sector's middle half▲ 0.3pp22.7%within the sector's middle half▲ 9.5pp
Current ratio0.69below the sector's middle half▼ 0.080.61below the sector's middle half▼ 0.080.72below the sector's middle half▲ 0.110.75below the sector's middle half▲ 0.030.68below the sector's middle half▼ 0.07
Return on assets (ROA)4.1%within the sector's middle half▲ 3.0pp1.1%within the sector's middle half▼ 3.1pp0.1%within the sector's middle half▼ 1.0pp0.1%within the sector's middle half▲ 0.1pp4.3%within the sector's middle half▲ 4.2pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 88% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €222,096
Fixed assets
€111,976 ▼ 14.9%
Current assets
€110,120 ▼ 38.1%
Equity and liabilities €222,096
Equity
€50,408 ▲ 23.5%
Debt
€171,688 ▼ 36.1%
Debt's share of the balance-sheet total falls from 86.8% to 77.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39,057▲
2024 · €32,336
Cash flow
€29,251▲
2024 · €22,443
Quick ratio
0.29▼
2024 · 0.39
Debt to equity
3.41▼
2024 · 6.58
ROE
19.0%▲
2024 · 1.0%
Interest coverage
3.98▲
2024 · 3.68
Debt ≤ 1 year
€161,058▼
2024 · €237,238
Debt > 1 year
€10,629▼
2024 · €31,467
Staff costs
€33,178▼
2024 · €42,108
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,273 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.7% 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 3,273 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 | €81,344 | €98,280 | €124,235 | €42,108 | €33,178 | ▼ 21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,588 | €23,297 | €22,456 | €22,031 | €19,662 | ▼ 10.8% |
| Other operating charges640/8 | €448 | €497 | €1,427 | €2,143 | €2,977 | ▲ 38.9% |
| Gross operating margin9900 | €124,293 | €130,160 | €154,363 | €76,587 | €75,213 | ▼ 1.8% |
| Operating profit (loss)9901 | €19,914 | €8,086 | €6,245 | €10,304 | €19,396 | ▲ 88.2% |
| Financial income75/76B | - | - | - | €25 | - | - |
| Recurring financial income75 | - | - | - | €25 | - | - |
| Financial charges65/66B | €6,422 | €5,172 | €3,899 | €8,795 | €9,806 | ▲ 11.5% |
| Recurring financial charges65 | €6,422 | €5,172 | €3,899 | €8,795 | €9,806 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | €13,492 | €2,914 | €2,346 | €1,534 | €9,589 | ▲ 525% |
| Income taxes67/77 | - | - | €2,137 | €1,123 | - | - |
| Profit (loss) for the period9904 | €13,492 | €2,914 | €209 | €411 | €9,589 | ▲ 2,232% |
| Profit (loss) for the period to be appropriated9905 | €13,492 | €2,914 | €209 | €411 | €9,589 | ▲ 2,232% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €326,568 | €275,646 | €314,179 | €309,524 | €222,096 | ▼ 28.2% |
| Fixed assets21/28 | €192,332 | €176,125 | €153,669 | €131,638 | €111,976 | ▼ 14.9% |
| Tangible fixed assets22/27 | €160,832 | €144,625 | €122,169 | €100,138 | €80,476 | ▼ 19.6% |
| Furniture and vehicles24 | €121,887 | €111,978 | €95,820 | €80,086 | €64,352 | ▼ 19.6% |
| Leasing and similar rights25 | €7,108 | €4,739 | €2,369 | - | - | - |
| Other tangible fixed assets26 | €31,837 | €27,908 | €23,980 | €20,052 | €16,123 | ▼ 19.6% |
| Financial fixed assets28 | €31,500 | €31,500 | €31,500 | €31,500 | €31,500 | = |
| Current assets29/58 | €134,236 | €99,521 | €160,510 | €177,887 | €110,120 | ▼ 38.1% |
| Stocks and contracts in progress3 | €19,946 | €21,924 | €91,541 | €85,740 | €62,720 | ▼ 26.8% |
| Stocks30/36 | €19,946 | €21,924 | €91,541 | €85,740 | €62,720 | ▼ 26.8% |
| Amounts receivable within one year40/41 | €4,964 | €21,266 | €16,532 | €11,481 | €5,169 | ▼ 55.0% |
| Other amounts receivable41 | €4,964 | €21,266 | €16,532 | €11,481 | €5,169 | ▼ 55.0% |
| Cash at bank and in hand54/58 | €96,738 | €56,331 | €52,156 | €78,234 | €42,062 | ▼ 46.2% |
| Deferred charges and accrued income490/1 | €12,589 | - | €281 | €2,431 | €169 | ▼ 93.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €326,568 | €275,646 | €314,179 | €309,524 | €222,096 | ▼ 28.2% |
| Equity10/15 | €37,285 | €40,199 | €40,408 | €40,819 | €50,408 | ▲ 23.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Outside capital11 | €20,000 | €20,000 | - | - | - | - |
| Other1109/19 | €20,000 | €20,000 | - | - | - | - |
| Profit (loss) carried forward14 | €17,285 | €20,199 | €20,408 | €20,819 | €30,408 | ▲ 46.1% |
| Amounts payable17/49 | €289,283 | €235,447 | €273,771 | €268,705 | €171,688 | ▼ 36.1% |
| Amounts payable after more than one year17 | €95,345 | €73,136 | €51,757 | €31,467 | €10,629 | ▼ 66.2% |
| Financial debts170/4 | €95,345 | €73,136 | €51,757 | €31,467 | €10,629 | ▼ 66.2% |
| Amounts payable within one year42/48 | €193,938 | €162,311 | €222,014 | €237,238 | €161,058 | ▼ 32.1% |
| Current portion of amounts payable after more than one year42 | €21,609 | €22,209 | €21,379 | €20,290 | €20,838 | ▲ 2.7% |
| Trade debts44 | €98,268 | €122,821 | €84,691 | €129,196 | €94,829 | ▼ 26.6% |
| Suppliers440/4 | €98,268 | €122,821 | €84,691 | €129,196 | €94,829 | ▼ 26.6% |
| Taxes, remuneration and social security45 | €12,061 | €14,422 | €22,349 | €28,575 | €6,095 | ▼ 78.7% |
| Taxes450/3 | €3,187 | €6,343 | €17,369 | €25,595 | €3,310 | ▼ 87.1% |
| Remuneration and social security454/9 | €8,873 | €8,078 | €4,980 | €2,980 | €2,785 | ▼ 6.6% |
| Other amounts payable47/48 | €62,000 | €2,859 | €93,596 | €59,177 | €39,297 | ▼ 33.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,492 | €2,914 | €209 | €411 | €9,589 | ▲ 2,232% |
| + Depreciation and write-downs630 | €22,588 | €23,297 | €22,456 | €22,031 | €19,662 | ▼ 10.8% |
| Operating cash flow (approximation) | €36,080 | €26,211 | €22,665 | €22,443 | €29,251 | ▲ 30.3% |
| Investment in fixed assets (approximation) | - | -€7,090 | €0 | €0 | €0 | - |
| Change in cash | - | -€40,406 | -€4,176 | €26,078 | -€36,172 | ▼ 239% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 56 days late
2024
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
31-12
Financial
Weakest financial yearnet €209 ▼92.8%
Net result drops to €209, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
16-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €13,492 ▲256%
Operating result €19,914, net result €13,492, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2019
Ground area
174 m²
Building footprint
121 m²
Volume, LiDAR
1,104 m³
Parcel 21445C0259/00C002, Brussels · tallest building 16.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
BUZLU
since 20192.299.854.459
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0259/00C002 | Brussels | 174 m² | 1 · 121 m² | 16.3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.299.854.459
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Of 10,509 companies in sector 47110 we hold annual accounts for 5,853. 4,638 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
Founded25-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736804377
Registered
24-12-2025
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.