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Rustam

Active Private limited companyfounded 2012active for 14 yearsLeuvensebaan 71, 3110 RotselaarKBO/BCE: BE 0846.676.574
Rustam
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Overview

Lifetime

13 annual accounts with figures on one time axis
peak €220,165 (2025)
€220,165▲ 7.3%
peak €104,248 (2022)
€41,522▼ 51.5%
peak €830,336 (2025)
€830,336▲ 5.3%
€684,802▲ 64.8%
Board2 names since 2017
1 director
Documentsfilings and deeds
30-06-202631 days before the deadline
2025micro format
Result from €85,587 to €41,522Debts from €415,571 to €684,802Investments €415,968Cash from €6,720 to €8,850

Key points

from the 2025 annual accounts

Equity

€830,336 ▲ 5.3%

Rustam has made a profit in every financial year since 2013.

Debts

€684,802 ▲ 64.8%
Suppliers
+138,342
Taxes and wages
+4,464
The rest
+126,425

Debts rose by €269,231 in 2025.

Investments

€415,968 9.2 × depreciation
20212022202320242025

Green is investment, beige is depreciation. Land and buildings stand 33.0% higher than in 2024.

Liquidity

0.08 was 2.80 in 2024

Short-term debts rose from €26,025 to €168,831.

Filings

13 annual accounts since 2013
AprilJune31 JulyOctober201520202025

The 2019 accounts came 31 days late. The other nine of the last ten were filed on time.

Position in the sector

€830,336

More equity than 95% of companies in advertising and market research. Sector median €58,792 · 8,624 companies.

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 6,049 companies had the same profile as Rustam has now. Each dot stands for 16 companies, two years later.

95.9%
were still trading
3.6%
stopped another way
0.4%
went bankrupt
  • Small
  • 10 to 20 years old
  • solvency 30% or more
  • a profit under 5% of the balance sheet
Test of the method

The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 6,049 companies, not a prediction for Rustam. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director, since 19-12-2023
  • all the sharesdeed of 19-01-2024
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0846676574
Change of role: , from manager to director “Detailhandel in nieuwe kunstvoorwerpen in gespecialiseerde winkels omvattende hedendaagse kunst,nieuwe…” (deed in Dutch) · holds all the shares · General meeting of 19-12-2023 · Gazette deed
Environmental permit granted Bouwen of herbouwen · Kinrooi
Resignation: (manager) General meeting of 30-06-2017 · Gazette deed
All 26 events

Comparable companies

same main activity, similar in size and age
Company
Rustam Rotselaar €1.5m €220,165 54.8% -
Amsos Boortmeerbeek €1.5m €205,683 56.2% -
MIEZA EUROPE Hove €1.6m €195,249 58.7% -
ROCKET SCIENCE CONSULTING GROUP Oosterzele €1.4m €199,390 39.4% -
FULL SPEED MANAGEMENT Lasne €1.7m €187,385 75.1% 0.3
Theracell Consulting Lasne €1.3m €217,400 79.8% -
Notaris Anke Verhaegen Puurs-Sint-Amands €1.5m €172,232 56.8% -

These companies have the same main activity as Rustam: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €1.3m and €1.7m, founded between 2011 and 2014.

Official details

Source: KBO
Status
Active since 19-06-2012Normal situation
Activity
Public relations and communication consultancyNACE 73300and 3 others
Establishment unit
2.210.292.6763110 Rotselaar, since 19-06-2012
Financial year end
31 December
Peppol
Reachable since 29-12-2025
Company details

Annual accounts 2025

€220,165▲ 7.3%
≈ €410,000estimated
€41,522▼ 51.5%
€830,336▲ 5.3%
€1.5m▲ 25.8%
Filing
Filed on 30-06-2026, 31 days before the end of the filing period
Financials

Insights on Rustam

Rustam files the micro format. That format states no turnover. The gross margin rose from €50,040 in 2013 to €220,165 in 2025.

The balance sheet grew most from 2024 to 2025 through fixed assets, financed with long-term debt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 30-06-2026, 31 days before the deadline
€220,165
▲ 7.3%
€84,050
▼ 31.8%
€41,522
▼ 51.5%
-€155,932
▼ €202,690
54.8%
▼ 10.7 percentage points
0.08
▼ 2.72

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €410,000. Estimated: probably between €310,000 and €810,000.

Balance sheet

balance sheet total €1.5m on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

54.8%

Higher than 51% of 8,617 companies in 2025.

0.08

Lower than 95% of 8,293 companies in 2025.

2.7%

Higher than 33% of 8,402 companies in 2025.

Rustam Middle half of the sector 80% of the sector Micro accounts in advertising and market research (NACE 73)

Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201520142013
Balance sheet: assets
20/58 1.5m1.2m961,684966,6341.2m1.0m920,091818,031703,389740,759632,422574,355523,791
21/28 1.5m1.1m956,514956,1771.1m904,231914,883815,301701,070740,667617,196543,065500,680
22/27 1.5m1.1m956,434956,0971.1m904,151914,802815,220700,989740,586617,116542,984500,600
22 1.5m1.1m951,035948,581872,731901,881912,386810,303693,573730,669610,699535,465491,836
23 ---0228,289--------
24 1,4423,4205,3987,5169,852853-1,5003,0004,500-102347
26 ---04171,4172,4173,4174,4175,4176,4177,4178,417
28 81818181818181818181818181
29/58 12,89972,7835,16910,45640,919119,4685,2082,7302,3199315,22631,29123,110
40/41 063,491-034,125114,781-2,234--10,8903,175247
40 063,491--0114,781----10,8903,175-
41 ---034,125--2,234----247
54/58 8,8506,7202,9736,9144,3264,1604,8431452,267934,33628,11622,863
490/1 4,0482,5712,1963,5422,46952736435152----
Balance sheet: equity and liabilities
10/49 1.5m1.2m961,684966,6341.2m1.0m920,091818,031703,389740,759632,422574,355523,791
10/15 830,336788,813703,226604,693500,445400,919302,167230,036163,254149,905144,193141,125135,762
10/11 143,600143,600143,600143,600143,600143,600143,600143,600131,200131,200131,200131,200131,200
100 ------143,600143,600143,600143,600143,600143,600143,600
101 --------12,40012,40012,40012,40012,400
13 686,736645,213559,626461,093356,845257,319158,56786,43632,05418,70512,9939,9254,562
130/1 --04,3944,3944,394-------
130 ------4,3944,3941,603935650496228
1311 --04,3944,3944,394-------
133 686,736645,213559,626456,699352,451252,925154,17482,04230,45217,77012,3439,4294,333
17/49 684,802415,571258,458361,940651,843622,781617,923587,995540,135590,854488,229433,230388,029
17 515,874389,546229,835224,503490,295468,628432,649413,458376,412417,222384,691409,871349,488
170/4 --0166,244181,200195,854210,210224,263238,232250,566262,521274,084222,082
178/9 515,874389,546229,83558,258309,094272,775222,439189,195138,180166,656122,170135,787127,406
42/48 168,83126,02528,623132,992153,281147,219179,505165,424158,266167,22197,50115,38430,901
42 --0104,956114,653124,356134,053143,781152,33411,95411,56311,2308,526
44 139,6011,25911,1487,08425,91071937,71114,823303152,06878,32457515,930
440/4 139,6011,25911,1487,08425,91071937,71114,823303152,06878,32457515,930
45 29,23024,76617,47519,40311,16720,5945,6235,3805,6293,1997,6143,5786,445
450/3 29,23024,76617,47519,40311,16720,5945,6235,3805,6293,1995,8141,7784,645
454/9 ----------1,8001,8001,800
47/48 --01,5501,5501,5502,1181,440-----
492/3 98-04,4458,2686,9335,7699,1135,4576,4106,0387,9757,640
Income statement
76A -062011,711---------
9900 220,165205,116182,737198,427180,913176,541149,926140,14776,60772,52456,51949,77750,040
630 45,33133,86932,31338,28932,42729,80730,79345,74739,59645,88026,56722,61632,690
640/8 90,78448,03310,94615,5523,3834,85815,2134,7472,3281,7299,6054,4761,927
9901 84,050123,214139,478144,585145,103141,877103,92089,65334,68224,91520,34722,68515,423
75/76B 00-00-54-12314131,040
75 00-00-54-12314131,040
65/66B 32,04115,25914,14512,22518,15716,73215,51619,06616,39317,73917,09716,91811,902
65 32,04115,25914,14512,22518,15716,73215,51619,06616,39317,73917,09716,91811,902
9903 52,009107,955125,332132,360126,946125,14488,45870,58718,3017,1793,2645,7794,562
67/77 10,48622,36826,80028,11127,42026,39315,51414,7664,9521,467196415-
9904 41,52285,58798,533104,24899,52698,75272,94355,82113,3495,7123,0675,3644,562
9905 41,52285,58798,533104,24899,52698,75272,94355,82113,3495,7123,0675,3644,562
Appropriation of the result
9906 41,52285,58798,533104,24899,52698,75272,94355,82113,3495,7123,0675,3644,562
791/2 -------640-----
691/2 41,52285,58798,533104,24899,52698,75272,13155,02113,3495,7123,0675,3644,562
6920 -------2,791667286153268228
6921 41,52285,58798,533104,24899,52698,75272,13152,23012,6825,4272,9145,0964,333
694/7 ------8121,440-----
694 ------8121,440-----
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 30-06-2026 2026-00232235 PDF
31-12-2024 micro format 24-06-2025 2025-00168468 PDF
31-12-2023 micro format 12-07-2024 2024-00240308 PDF
31-12-2022 micro format 12-07-2023 2023-00231250 PDF
31-12-2021 micro format 29-06-2022 2022-20111190 PDF
31-12-2020 micro format 21-06-2021 2021-22400077 PDF
31-12-2019 abbreviated format 31-08-2020 2020-47800469 PDF
31-12-2018 abbreviated format 28-06-2019 2019-23900473 PDF
31-12-2017 abbreviated format 12-07-2018 2018-32000353 PDF
31-12-2016 abbreviated format 04-07-2017 2017-27300076 PDF
31-12-2015 abbreviated format 24-06-2016 2016-21800177 PDF
31-12-2014 abbreviated format 29-06-2015 2015-23800185 PDF
31-12-2013 abbreviated format 01-07-2014 2014-23700195 PDF

Subsidies and aid

Flemish government 2025, 1 entry, €1,791 awarded, €1,791 paid

Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
€1,791

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201520142013
129,381157,083171,790182,874177,530171,684134,712135,40074,27970,79446,91445,30148,113
86,853119,457130,845142,538131,953128,559103,736101,56852,94551,59229,63427,98037,251
415,968208,95732,650111,386239,56519,156130,375159,9780169,350135,09965,000533,370
2,1303,747-3,9402,588166-6834,699-2,1222,174-4,244-23,7805,253-
-155,93246,758-23,453-122,536-112,361-27,751-174,298-162,694-155,947-167,129-82,27515,907-7,791
54.8%65.5%73.1%62.6%43.4%39.2%32.8%28.1%23.2%20.2%22.8%24.6%25.9%
0.082.800.180.080.270.810.030.020.010.000.162.030.75
0.820.530.370.601.301.552.042.563.313.943.393.072.86
5.0%10.9%14.0%17.2%19.9%24.6%24.1%24.3%8.2%3.8%2.1%3.8%3.4%
2.7%7.1%10.2%10.8%8.6%9.6%7.9%6.8%1.9%0.8%0.5%0.9%0.9%
4.0410.2912.1414.969.78--------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€415,968€208,957€32,650€111,386€239,565
Financial fixed assets€0----
€45,331€33,869€32,313€38,289€32,427

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on Rustam

The operating result for 2025 is 32% lower than in 2024 and the lowest since 2017. It is the fourth fall in a row.

Debt's share of the balance-sheet total rises from 34.5% to 45.2%. Equity and debt are higher.

Board & ownership

Board

1 director, last change in 2024
Director
since 19-12-2023 term without a fixed end
earlier manager, until 19-01-2024
listed in the 2025 annual accounts, filed on 30-06-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Deze vaste vertegenwoordiger kan niet in eigen naam noch als vaste vertegenwoordiger van een andere rechtspersoon-bestuurder zetelen in het…”
deed of 19-01-2024

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Director

Manager
BoardEarliermandate already running before its first mention
Mandates as a list
    • Director, since before 31-12-2021
    • Manager, until 19-01-2024
    • Manager, until 30-06-2017

See the board, name and registered office on a given date →

Control

Shareholder
This company
Rustam
Equity €830,336
Profit €41,522 in 2025

Capital

Contribution
€143,600
Source
2025 annual accounts

Articles of association

deed of 19-01-2024 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of June at 18:00

Shareholders

Stated in the deed deed of 19-01-2024 ↗
  • all shares

Network & group

No group

Rustam has no parent and no holdings in its annual accounts. is the only director. Rustam shares no director with another company.

Timeline

Timeline

26 events since 2012

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 31 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0846676574
Annual accounts 2024 filed PDFmicro format · 37 days before the deadline
2024
Liquidity more than 15 times current ratio 2.80 The current ratio rises from 0.18 to 2.80. Short-term debt falls from €28,623 to €26,025.
Annual accounts 2023 filed PDFmicro format · 19 days before the deadline
Change of role: , from manager to director“Detailhandel in nieuwe kunstvoorwerpen in gespecialiseerde winkels omvattende hedendaagse kunst,nieuwe…” (deed in Dutch) · holds all the shares · General meeting of 19-12-20237 points ▸
  • General meeting, 19-12-2023
  • Purpose change, “Detailhandel in nieuwe kunstvoorwerpen in gespecialiseerde winkels omvattende hedendaagse kunst,nieuwe schilderijen,reproducties,kaders,lijsten enzo in winkels…” (deed in Dutch)
  • Power of attorney,
  • Director resignation, (manager)
  • Director appointment,
  • Registered office clause, Leuvensebaan 71, 3110 Rotselaar
  • holds all the shares
  • The deed holds 9 more points.

Open the deed in the Belgian Official Gazette

2023
Annual accounts 2022 filed PDFmicro format · 19 days before the deadline
Environmental permit granted OmgevingsloketBouwen of herbouwen · Kinrooi
2022
Highest result from 2013 to 2025 net €104,248 ▲4.7% The net result of €104,248 is the highest of those years.
Annual accounts 2021 filed PDFmicro format · 32 days before the deadline
2021
Equity above €500,000 equity €500,445 ▲24.8% With a profit in every financial year since 2013, equity grows to €500,445.
Annual accounts 2020 filed PDFmicro format · 40 days before the deadline
2020
Annual accounts 2019 filed PDFabbreviated format · 31 days late
2019
Annual accounts 2018 filed PDFabbreviated format · 33 days before the deadline
2018
Equity above €200,000 equity €230,036 ▲40.9% With a profit in every financial year since 2013, equity grows to €230,036.
Annual accounts 2017 filed PDFabbreviated format · 19 days before the deadline
2017
Equity above €150,000 equity €163,254 ▲8.9% With a profit in every financial year since 2013, equity grows to €163,254.
Resignation: (manager)General meeting of 30-06-20172 points ▸
  • General meeting, 30-06-2017
  • Director resignation, (manager)

Open the deed in the Belgian Official Gazette

Annual accounts 2016 filed PDFabbreviated format · 27 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 37 days before the deadline
2015
Weakest financial year net €3,067 ▼42.8% The net result drops to €3,067, the lowest from 2013 to 2025. It recovers the following year.
Annual accounts 2014 filed PDFabbreviated format · 32 days before the deadline
2014
Liquidity more than doubled current ratio 2.03 The current ratio rises from 0.75 to 2.03. Short-term debt falls from €30,901 to €15,384.
Annual accounts 2013 filed PDFabbreviated format · 30 days before the deadline
2012
Incorporation PDFpublished on 21-06-2012
First establishment Leuvensebaan 71, Rotselaar

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

Rustam was incorporated on 19 June 2012.1 Total assets rose from €818,031 in 2018 to €1.5m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0846.676.574
VAT number
BE 0846.676.574
Peppol ID
0208:0846676574
Other Peppol ID
9925:BE0846676574
Legal form
Private limited company
Status
Active, normal situation
Founded
19-06-2012
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of June at 18:00
deed of 19-01-2024 (in Dutch)
Peppol
Reachable since 29-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
Rustam in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 19-01-2024 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 19-01-2024 (in Dutch)

Activities

NACEBEL 2025
73300 Public relations and communication consultancy main activity
64210 Activities of holding companies
70200 Business and other management consultancy
82990 Other business support services
Codes under NACEBEL 2008
70210 Activities of head offices; management consultancy activities main activity
64200 Holdings
70220 Business consulting
82990 Other business support services
PurposeThe purpose describes the activities the company may carry out under its articles.
“Detailhandel in nieuwe kunstvoorwerpen in gespecialiseerde winkels omvattende hedendaagse kunst,nieuwe…”
16 activities
  1. Detailhandel in nieuwe kunstvoorwerpen in gespecialiseerde winkels omvattende hedendaagse kunst,nieuwe schilderijen,reproducties,kaders,lijsten enzo in winkels en commerciële kunstgalerijen.
  2. Scheppende kunsten-zelfstandig werkend kunstenaar-en ondersteunende activiteiten voor scheppende kunsten.
  3. Het verlenen aan ondernemingen waarin zij deelneemt of niet deelneemt,al dan niet bezoldigd van technische,administratieve,financiële en commerciële bijstand,het verstrekken van adviezen en verlenen van diensten inzake studie,administratie,organisatie en handels aangelegenheden,het opnemen van bestuurdersmandaten in de meest ruime zin genomen,aan derden.
  4. Managementactiviteiten van holdings:tussenkomen in het dagelijks bestuur,vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal,enz.
  5. Onderneming voor het beheer van eigen beleggingen en eigen vermogens.
  6. De participatie,onder welke vorm het ook zij,in de oprichting,ontwikkeling,omvorming en controle van alle ondernemingen,Belgische of buitenlandse,commerciële,financiële,industriële of andere;de verwerving van eender elke titels of rechten door middel van participatie,inbreng,onderschrijving,koop,aankoopoptie,verhandeling,of op iedere andere wijze.
  7. Uitoefenen van bestuursmandaten in binnen en buitenlandse vennootschappen,al dan niet dochtervennootschappen.
  8. Onderneming in onroerende goederen,welke onder meer omvat:De verwerving,de vervreemding,het beheer,de uitbating,de valorisatie,de verkaveling,de ordening,de huur en de verhuur,het doen bouwen en verbouwen,de procuratie,bouwpromotie,projectontwikkeling,onroerende leasing en roerende leasing.
  9. Lease van intellectuele eigendom en vergelijkbare producten,met uitzondering van werken onder auteursrecht.
  10. Verhuur en verkoop van roerende goederen,rollend materieel,decoratieve elementen,enz.
  11. Adviesbureaus op het gebied van public relations en communicatie.Verlenen van advies en praktische hulp aan de bedrijven i.v.m.public relations en communicatie.
  12. Onderneming voor het verstrekken van organisatieontwikkeling-begeleiding en directie coaching.
  13. Arbitrage en bemiddeling tussen bedrijfsleiding en werknemers.
  14. Alle vertaal en tolkdiensten.
  15. Het aanvaarden en uitvoeren van onderwijsopdrachten inzake taal en taalonderricht,dit zonder enige beperkende bepaling.
  16. Het uitvoeren van journalistiek werk,het schrijven en publiceren van stukken.
deed of 19-01-2024 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Leuvensebaan 71 registered office 3110 Rotselaar 7010001 Activities of head offices 19-06-2012 2.210.292.676

Buildings and parcels at the address

Ground area
1,637 m²
Buildings
137 m²
Volume, LiDAR
813 m³
Tallest building
10.0 m
Buildings to scale, each on its own parcel
137 m², 10.0 m 137 m², 10.0 m

Environmental permits

1 application in Flanders since 2023 · 1 granted
03-07-2023 Granted Bouwen of herbouwen submitted 13-02-2023 · project 2023018304 Kinrooi

Source: Omgevingsloket Vlaanderen.

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
24094C0257/00K0001,637 m² 1 · 137 m² 10.0 m · 2

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