Summary
USTEROM is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €14,251 and a net result of €18,587. Equity has been shrinking by about 5.4% per year since 2020. Its solvency ranks better than 19% of 3,060 sector peers (NACE 66, financial year 2025). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-12-2020 Normal situation
- Activity
- Other activities auxiliary to financial services, excluding insurance and pension funding NACE 66199
- Establishment units
- 2.311.857.616 1560 Hoeilaart, since 01-12-2020
- 2.388.550.368 1490 Court-Saint-Etienne, since 01-01-2026
- Financial year end
- 31 December
- Peppol
- Reachable since 09-03-2026
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €18,587
- ▲ 14×
- Equity
- €14,251
- ▼ 31.0%
- Total assets
- €115,530
- ▲ 53.4%
- Staff
- 0.6 FTE
- ▲ 20.0%
Signalsraises riskWeak solvency compared with the sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 3060 sector peers (2025).
NBB · sector comparisonPosition among 3060 sector peers
Solvency
better than 19%
← weakest
strongest →
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 17-07-2026, 14 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
14 days early
2024
35 days early
2023
34 days early
2022
32 days early
2021
33 days early
2020
2 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 25 days before the deadline. In the sector (NACE 66), the median for financial year 2024 was 5 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 6 filings
Equity
€14,251▼ 31.0%
2024 · €20,664
Net result
€18,587▲ 14×
2024 · €1,337
Total assets
€115,530▲ 53.4%
2024 · €75,301
Solvency
12.3%▼ 15.1pp
2024 · 27.4%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€25,484
▲ 22×
2025
20202025
Net result
€18,587
▲ 14×
2025
middle half of the sector
20202025
Equity
€14,251
▼ 31.0%
2025
lowest quarter of the sector
20202025
Total assets
€115,530
▲ 53.4%
2025
lowest quarter of the sector
20202025
Debt
€101,279
▲ 85.4%
2025
20202025
Working capital
-€65,886
▼ 396%
2025
lowest quarter of the sector
20202025
Solvency
12.3%
▼ 15.1pp
2025
lowest quarter of the sector
20202025
Current ratio
0.35
▼ 0.41
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
16.1%
▲ 14.3pp
2025
middle half of the sector
20202025
Staff (FTE)
0.6
▲ 20.0%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€16,923-€108,392▲ 540%€33,055▼ 69.5%€10,064▼ 69.6%€1,161▼ 88.5%€25,484▲ 22×
Net result€13,539within the sector's middle half-€86,409above the sector's middle half▲ 538%€27,974within the sector's middle half▼ 67.6%€7,904within the sector's middle half▼ 71.7%€1,337below the sector's middle half▼ 83.1%€18,587within the sector's middle half▲ 14×
Equity€19,539below the sector's middle half-€105,948within the sector's middle half▲ 442%€11,422below the sector's middle half▼ 89.2%€19,326below the sector's middle half▲ 69.2%€20,664below the sector's middle half▲ 6.9%€14,251below the sector's middle half▼ 31.0%
Total assets€28,495below the sector's middle half-€111,593below the sector's middle half▲ 292%€141,550within the sector's middle half▲ 26.8%€32,939below the sector's middle half▼ 76.7%€75,301below the sector's middle half▲ 129%€115,530below the sector's middle half▲ 53.4%
Debt€8,956-€5,645▼ 37.0%€130,128▲ 23×€13,613▼ 89.5%€54,638▲ 301%€101,279▲ 85.4%
Working capital€19,539within the sector's middle half-€105,948within the sector's middle half▲ 442%-€3,658within the sector's middle half-€364within the sector's middle half▲ 90.0%-€13,296below the sector's middle half▼ 3,550%-€65,886below the sector's middle half▼ 396%
Solvency68.6%within the sector's middle half-94.9%above the sector's middle half▲ 26.4pp8.1%below the sector's middle half▼ 86.9pp58.7%within the sector's middle half▲ 50.6pp27.4%within the sector's middle half▼ 31.2pp12.3%below the sector's middle half▼ 15.1pp
Current ratio3.18within the sector's middle half-19.77above the sector's middle half▲ 16.590.97within the sector's middle half▼ 18.800.97within the sector's middle half=0.76below the sector's middle half▼ 0.220.35below the sector's middle half▼ 0.41
Return on assets (ROA)47.5%above the sector's middle half-77.4%above the sector's middle half▲ 29.9pp19.8%above the sector's middle half▼ 57.7pp24.0%above the sector's middle half▲ 4.2pp1.8%below the sector's middle half▼ 22.2pp16.1%within the sector's middle half▲ 14.3pp
Staff (FTE)0.50.6▲ 20.0%
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 22 times that of 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €115,530
Fixed assets
€80,137 ▲ 136%
Current assets
€35,393 ▼ 14.4%
Equity and liabilities €115,530
Equity
€14,251 ▼ 31.0%
Debt
€101,279 ▲ 85.4%
Debt's share of the balance-sheet total rises from 72.6% to 87.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
130.4%▲
2024 · 6.5%
Debt ≤ 1 year
€101,279▲
2024 · €54,638
Income taxes
€6,777▲
2024 · -€197
Staff costs
€30,227▲
2024 · €24,036
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 2 | - |
| in full-time equivalents | 2 | - |
| Average over the year, in full-time equivalents | 0.5 | 0.6 |
| On a permanent contract | 2 | - |
| Joined | 2 | 0 |
| Left | 0 | 2 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €16,110 | €7,650 | €35,810 | €62,000 |
| Depreciation and write-downs of the year | - | €1,030 | €3,040 | €1,850 | €15,823 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €24,036 | €30,227 | ▲ 25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,030 | €3,040 | €1,850 | €15,823 | ▲ 755% |
| Other operating charges640/8 | - | €375 | - | €384 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €3,339 | - | - |
| Gross operating margin9900 | €16,923 | €108,767 | €34,085 | €13,488 | €30,773 | €71,934 | ▲ 134% |
| Operating profit (loss)9901 | €16,923 | €108,392 | €33,055 | €10,064 | €1,161 | €25,484 | ▲ 22× |
| Financial income75/76B | - | €424 | €2,221 | €1,062 | €70 | - | - |
| Recurring financial income75 | - | €424 | €2,221 | €1,062 | €70 | - | - |
| Financial charges65/66B | - | €7 | €145 | €104 | €90 | €120 | ▲ 33.1% |
| Recurring financial charges65 | - | €7 | €145 | €104 | €90 | €120 | ▲ 33.1% |
| Profit (loss) for the period before taxes9903 | €16,923 | €108,809 | €35,130 | €11,021 | €1,140 | €25,364 | ▲ 22× |
| Income taxes67/77 | €3,385 | €22,400 | €7,156 | €3,117 | -€197 | €6,777 | - |
| Profit (loss) for the period9904 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| Profit (loss) for the period to be appropriated9905 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €28,495 | €111,593 | €141,550 | €32,939 | €75,301 | €115,530 | ▲ 53.4% |
| Fixed assets21/28 | - | - | €15,080 | €19,691 | €33,960 | €80,137 | ▲ 136% |
| Tangible fixed assets22/27 | - | - | €15,080 | €19,691 | €33,960 | €80,137 | ▲ 136% |
| Plant, machinery and equipment23 | - | - | €9,658 | €15,408 | €3,004 | €22,664 | ▲ 654% |
| Furniture and vehicles24 | - | - | €5,422 | €4,283 | €30,956 | €57,473 | ▲ 85.7% |
| Current assets29/58 | €28,495 | €111,593 | €126,470 | €13,249 | €41,341 | €35,393 | ▼ 14.4% |
| Amounts receivable after more than one year29 | - | €70,424 | €102,644 | - | - | - | - |
| Other amounts receivable291 | - | €70,424 | €102,644 | - | - | - | - |
| Amounts receivable within one year40/41 | €12,338 | €17,270 | €7,157 | €12,802 | €2,177 | €32,179 | ▲ 15× |
| Trade receivables40 | - | €12,139 | €5,079 | €12,802 | €2,029 | €30,251 | ▲ 15× |
| Other amounts receivable41 | - | €5,131 | €2,078 | - | €149 | €1,928 | ▲ 13× |
| Cash at bank and in hand54/58 | €16,157 | €23,133 | €16,508 | €446 | €37,076 | €2,479 | ▼ 93.3% |
| Deferred charges and accrued income490/1 | - | €766 | €160 | - | €2,088 | €734 | ▼ 64.8% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €28,495 | €111,593 | €141,550 | €32,939 | €75,301 | €115,530 | ▲ 53.4% |
| Equity10/15 | €19,539 | €105,948 | €11,422 | €19,326 | €20,664 | €14,251 | ▼ 31.0% |
| Contributions10/11 | - | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €13,539 | €99,948 | €5,422 | €13,326 | €14,664 | €8,251 | ▼ 43.7% |
| Distributable reserves133 | - | €99,948 | €5,422 | €13,326 | €14,664 | €8,251 | ▼ 43.7% |
| Amounts payable17/49 | €8,956 | €5,645 | €130,128 | €13,613 | €54,638 | €101,279 | ▲ 85.4% |
| Amounts payable within one year42/48 | €8,956 | €5,645 | €130,128 | €13,613 | €54,638 | €101,279 | ▲ 85.4% |
| Trade debts44 | €1,674 | €1,189 | €381 | - | €15,220 | €856 | ▼ 94.4% |
| Suppliers440/4 | - | €1,189 | €381 | - | €15,220 | €856 | ▼ 94.4% |
| Advances received on contracts in progress46 | - | - | - | - | - | €24,500 | - |
| Taxes, remuneration and social security45 | - | €4,342 | €7,156 | €12,074 | €1,206 | €6,777 | ▲ 462% |
| Taxes450/3 | - | €4,342 | €7,156 | €12,074 | €1,206 | €6,777 | ▲ 462% |
| Other amounts payable47/48 | - | €113 | €122,591 | €1,539 | €38,212 | €69,147 | ▲ 81.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| + Depreciation and write-downs630 | - | - | €1,030 | €3,040 | €1,850 | €15,823 | ▲ 755% |
| Operating cash flow (approximation) | €13,539 | €86,409 | €29,004 | €10,944 | €3,188 | €34,410 | ▲ 979% |
| Investment in fixed assets (approximation) | - | - | - | -€7,650 | -€16,120 | -€62,000 | ▼ 285% |
| Change in cash | - | €6,976 | -€6,625 | -€16,062 | €36,630 | -€34,597 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00302735 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00178874 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00177834 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00171580 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20108483 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-43000406 |
Board & ownership
Directors
Directors
1 director, last change in 2024
PEETERS Philippe
Current
Sole director · current term since 26-08-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 17-07-2026
Owners and capital
Owners
Mandate history
2 people, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| PEETERS Philippe |
|
| Véronique PEETERS |
|
Network & group
USTEROM shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of USTEROM. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
17-07
micro format · 14 days before the deadline
2025
26-06
micro format · 35 days before the deadline
2024
31-12
Financial
Weakest financial yearnet €1,337 ▼83.1%
The net result drops to €1,337, the lowest from 2020 to 2025. It recovers the following year.
28-08
Gazette deed
Company renamed from MUSHU to USTEROMRegistered office moved within Hoeilaart · New seat: Georges Huynenstraat 4, 1560 Hoeilaart · Previous seat: Brusselsesteenweg 102B, 1560 Hoeilaart11 points ▸
Gazette deed
Company renamed from MUSHU to USTEROM
Registered office moved within Hoeilaart · New seat: Georges Huynenstraat 4, 1560 Hoeilaart · Previous seat: Brusselsesteenweg 102B, 1560 Hoeilaart11 points ▸
- General meeting, 23-08-2024
- Director resignation, Véronique PEETERS (director)
- Director discharge, Véronique PEETERS (director)
- Director appointment, PEETERS Philippe (sole director)
- Registered-office move, Georges Huynenstraat 4,1560 Hoeilaart
- Name change, USTEROM
- Other provision, “verschillend van elke andere rechtspersoon, naamvereiste vennootschap” (deed in Dutch)
- Other provision, “verslag bestuursorgaan artikel 5:101, aandeelhouder ontving exemplaar en nam kennis” (deed in Dutch)
- Purpose change
- Amendment of the articles
- Power of attorney, mentioned 2 times in the deed
27-06
micro format · 34 days before the deadline
2023
04-08
Gazette deed
Company renamed from ALCHEMY CAPITAL to Mushu4 points ▸
Gazette deed
Company renamed from ALCHEMY CAPITAL to Mushu
4 points ▸
- General meeting, “eenparigheid van stemmen”, 20-07-2023 (deed in Dutch)
- Name change, Mushu
- Other provision, “bijzonder verslag van het bestuursorgaan, voorzitter” (deed in Dutch)
- Other provision, “bestemming van de winst- reserves”, 21 (deed in Dutch)
29-06
micro format · 32 days before the deadline
2022
28-06
micro format · 33 days before the deadline
2021
31-12
Financial
Highest result from 2020 to 2025net €86,409 ▲538%
The operating result of €108,392 and the net result of €86,409 are both a record.
31-12
Financial
Liquidity more than 6 timescurrent ratio 19.77
The current ratio rises from 3.18 to 19.77. Short-term debt falls from €8,956 to €5,645.
31-12
Financial
Equity above €100,000equity €105,948 ▲442%
With a profit in every financial year since 2020, equity grows to €105,948.
29-07
micro format · 2 days before the deadline
2020
03-12
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
USTEROM in Dutch
Former names
MUSHU until the act of 28-08-2024
ALCHEMY CAPITAL until the act of 04-08-2023
Enterprise number
0758.927.208
Legal form
Private limited company
Status
Active, normale toestand
Founded
01-12-2020
Entity type
Legal entity
Registered office and establishments
Registered office
Georges Huynenstraat 4, 1560 Hoeilaart, Belgium
Establishment units
Usterom, Georges Huynenstraat 4, 1560 Hoeilaart since 01-12-2020 · unit number 2.311.857.616
USTEROM, Drève des Chevreuils 4, 1490 Court-Saint-Etienne since 01-01-2026 · unit number 2.388.550.36870200 Business and other management consultancy
E-mail
welldone@usterom.comHoeilaart
Activities
NACEBEL 202566199
Other activities auxiliary to financial services, excluding insurance and pension funding main activity
Codes under NACEBEL 2008
66199
Activities auxiliary to financial services and insurance activities main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 28-08-2024 (in Dutch)
“Het realiseren van alle schilderwerkzaamheden binnen of buiten,het leggen van vloerbedekkingen en meer in het algemeen alle…”
5 activities
- Het realiseren van alle schilderwerkzaamheden binnen of buiten,het leggen van vloerbedekkingen en meer in het algemeen alle renovatiewerkzaamheden van onroerende goederen.
- De realisatie van alle vastgoedwerken,in het bijzonder loodgieterswerk,metselwerk,betonnering,sloop- en voegwerken,dakbedekking,cementeren en dekvloer leggen,namelijk het coaten en afdekken van steunen,wanden en plafonds met gips,gipsplaat,mortel,cement en de reparatie daarvan,het bedekken van bodems door mortel en het herstel daarvan;
- Het realiseren van alle binnenwerken inclusief timmerwerk,smederij,werfvoorbereidingswerkzaamheden,tegelinstallatie,installatie van scheidingswanden en valse plafonds,schoonmaken van gebouwen,monteren en demonteren van steigers,schoonmaken van ramen,schoorsteenvegen en elke vorm van rookafvoer,in opdracht van het bedrijf of een derde.
- Het aanleggen en onderhoud van tuinen,parken,speelpleinen en sportvelden.Aanplantingen en grondwerken – het snoeien en vellen van bomen – het plaatsen van omheiningen,kleine bouwconstructies – het aanleggen van parkings,opritten en wegeniswerken.
- De handel,onder al haar vormen,en meer bepaald de invoer of uitvoer,aankoop of verkoop,in groot- of kleinhandel,vervoer,huur,verhuur,vertegenwoordiging,promotie,installatie,fabricatie,transformatie,van alle machines en materialen die verband houden met bovengenoemde activiteiten,in de meest ruime zin.
Invoicing and payment
VAT number
BE 0758.927.208
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
3,959 m²
Building footprint
417 m²
Building volume
2,591 m³
Tallest building: 10.8 m.
Flanders
1
(50%)
Wallonia
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23033C0074/00M003 | Flanders | 2,418 m² | 1 · 241 m² | 10.8 m · 2 |
| 25023G0400/00H000 | Wallonia | 1,541 m² | 1 · 176 m² | 7.9 m · 2 |