ZUSTO
ActiveSummary
ZUSTO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €797,166 and a net result of -€137,641. Equity is shrinking by ~12.5% per year across the filed fiscal years. Its solvency ranks better than 83% of 4238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▲+9
Solvency97=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 2.59 against 3.07 in 2024; short-term debt: 24.4% and cash: 12.7% of total assets), and 28.4% 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 · 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
71.6%
Return on assets
-12.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€137,641
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 30-07-2026, 1 day ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
1 d early
2024
13 d early
2023
1 d early
2022
25 d early
2021
32 d early
2020
30 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 18 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€137,641▲ 6.9%
2024 · -€147,782
Working capital
€431,044▼ 11.9%
2024 · €489,486
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-€535,180▲ 26.9%-€650,302▼ 21.5%-€466,366▲ 28.3%-€178,139▲ 61.8%-€122,355▲ 31.3%
Net result-€556,255below the sector's middle half▲ 26.3%-€657,585below the sector's middle half▼ 18.2%-€541,774below the sector's middle half▲ 17.6%-€147,782below the sector's middle half▲ 72.7%-€137,641below the sector's middle half▲ 6.9%
Equity€1.7mabove the sector's middle half▲ 35.8%€1.3mabove the sector's middle half▼ 21.3%€1.1mabove the sector's middle half▼ 18.3%€934,806above the sector's middle half▼ 13.7%€797,166within the sector's middle half▼ 14.7%
Total assets€2.6mabove the sector's middle half▲ 18.6%€2.1mabove the sector's middle half▼ 18.0%€1.6mwithin the sector's middle half▼ 25.8%€1.3mwithin the sector's middle half▼ 16.8%€1.1mwithin the sector's middle half▼ 13.9%
Debt€870,158▼ 4.9%€769,102▼ 11.6%€471,289▼ 38.7%€358,207▼ 24.0%€315,637▼ 11.9%
Working capital€1.2mabove the sector's middle half▲ 67.0%€765,364above the sector's middle half▼ 33.9%€605,666above the sector's middle half▼ 20.9%€489,486within the sector's middle half▼ 19.2%€431,044within the sector's middle half▼ 11.9%
Solvency65.9%above the sector's middle half▲ 8.4pp63.3%above the sector's middle half▼ 2.6pp69.7%above the sector's middle half▲ 6.4pp72.3%above the sector's middle half▲ 2.6pp71.6%above the sector's middle half▼ 0.7pp
Current ratio4.16above the sector's middle half▲ 0.812.88above the sector's middle half▼ 1.283.66above the sector's middle half▲ 0.783.07above the sector's middle half▼ 0.592.59above the sector's middle half▼ 0.48
Return on assets (ROA)-21.8%below the sector's middle half▲ 13.3pp-31.4%below the sector's middle half▼ 9.6pp-34.9%below the sector's middle half▼ 3.5pp-11.4%below the sector's middle half▲ 23.4pp-12.4%below the sector's middle half▼ 0.9pp
Staff (FTE)3within the sector's middle half▲ 200%2within the sector's middle half▼ 33.3%1.2below the sector's middle half▼ 40.0%0.8below the sector's middle half▼ 33.3%0.5below the sector's middle half▼ 37.5%
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.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €122,355 in 2025 against €178,139 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€409,897 ▼ 27.7%
Current assets
€702,906 ▼ 3.2%
Equity and liabilities €1.1m
Equity
€797,166 ▼ 14.7%
Debt
€315,637 ▼ 11.9%
Debt's share of the balance-sheet total rises from 27.7% to 28.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€29,335▲
2024 · -€20,430
Cash flow
€14,050▲
2024 · €9,927
Quick ratio
1.46▼
2024 · 2.21
Debt to equity
0.40▲
2024 · 0.38
ROE
-17.3%▼
2024 · -15.8%
Interest coverage
1.12▲
2024 · -0.61
Debt ≤ 1 year
€271,862▲
2024 · €236,936
Debt > 1 year
€43,776▼
2024 · €121,271
Income taxes
€151▼
2024 · €1,238
Staff costs
€22,901▼
2024 · €56,180
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,805 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.0%
went bankrupt
9.8%
stopped otherwise
88%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 4,805 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 | €122,451 | €102,832 | €58,044 | €56,180 | €22,901 | ▼ 59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €155,296 | €157,548 | €157,497 | €157,709 | €151,691 | ▼ 3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2,906 | €48,067 | €0 | - | - |
| Other operating charges640/8 | €9,817 | €14,991 | €2,765 | €14,711 | €17,207 | ▲ 17.0% |
| Non-recurring operating charges66A | - | - | - | €49,955 | €0 | ▼ 100% |
| Gross operating margin9900 | -€247,616 | -€372,025 | -€199,994 | €100,417 | €69,443 | ▼ 30.8% |
| Operating profit (loss)9901 | -€535,180 | -€650,302 | -€466,366 | -€178,139 | -€122,355 | ▲ 31.3% |
| Financial income75/76B | €2,105 | €25,082 | €7,087 | €64,835 | €11,167 | ▼ 82.8% |
| Recurring financial income75 | €2,105 | €21,962 | €7,087 | €14,880 | €1,473 | ▼ 90.1% |
| Non-recurring financial income76B | - | €3,120 | €0 | €49,955 | €9,694 | ▼ 80.6% |
| Financial charges65/66B | €22,958 | €32,207 | €82,180 | €33,241 | €26,302 | ▼ 20.9% |
| Recurring financial charges65 | €22,958 | €32,207 | €32,225 | €33,241 | €26,302 | ▼ 20.9% |
| Non-recurring financial charges66B | - | - | €49,955 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | -€556,033 | -€657,427 | -€541,459 | -€146,545 | -€137,490 | ▲ 6.2% |
| Income taxes67/77 | €222 | €159 | €315 | €1,238 | €151 | ▼ 87.8% |
| Profit (loss) for the period9904 | -€556,255 | -€657,585 | -€541,774 | -€147,782 | -€137,641 | ▲ 6.9% |
| Profit (loss) for the period to be appropriated9905 | -€556,255 | -€657,585 | -€541,774 | -€147,782 | -€137,641 | ▲ 6.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €2.1m | €1.6m | €1.3m | €1.1m | ▼ 13.9% |
| Fixed assets21/28 | €1.0m | €921,534 | €720,431 | €566,592 | €409,897 | ▼ 27.7% |
| Intangible fixed assets21 | €1.0m | €866,179 | €710,427 | €556,588 | €409,897 | ▼ 26.4% |
| Financial fixed assets28 | €5,400 | €55,355 | €10,004 | €10,004 | €0 | ▼ 100% |
| Current assets29/58 | €1.5m | €1.2m | €833,446 | €726,422 | €702,906 | ▼ 3.2% |
| Stocks and contracts in progress3 | €338,285 | €298,354 | €256,753 | €202,401 | €304,693 | ▲ 50.5% |
| Stocks30/36 | €338,285 | €298,354 | €256,753 | €202,401 | €304,693 | ▲ 50.5% |
| Amounts receivable within one year40/41 | €358,346 | €297,677 | €191,541 | €178,538 | €254,132 | ▲ 42.3% |
| Trade receivables40 | €279,216 | €244,454 | €162,218 | €158,457 | €238,574 | ▲ 50.6% |
| Other amounts receivable41 | €79,130 | €53,223 | €29,323 | €20,080 | €15,558 | ▼ 22.5% |
| Cash at bank and in hand54/58 | €814,704 | €570,783 | €377,016 | €343,463 | €141,587 | ▼ 58.8% |
| Deferred charges and accrued income490/1 | €11,646 | €5,118 | €8,136 | €2,021 | €2,493 | ▲ 23.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €2.1m | €1.6m | €1.3m | €1.1m | ▼ 13.9% |
| Equity10/15 | €1.7m | €1.3m | €1.1m | €934,806 | €797,166 | ▼ 14.7% |
| Contributions10/11 | €3.9m | €4.2m | €4.5m | €4.5m | €4.5m | = |
| Capital10 | €3.9m | €4.2m | €4.5m | €4.5m | €4.5m | = |
| Issued capital100 | €3.9m | €4.5m | €4.5m | €4.5m | €4.5m | = |
| Uncalled capital101 | - | €300,000 | €0 | - | - | - |
| Profit (loss) carried forward14 | -€2.2m | -€2.8m | -€3.4m | -€3.5m | -€3.7m | ▼ 3.9% |
| Amounts payable17/49 | €870,158 | €769,102 | €471,289 | €358,207 | €315,637 | ▼ 11.9% |
| Amounts payable after more than one year17 | €504,310 | €362,535 | €243,508 | €121,271 | €43,776 | ▼ 63.9% |
| Financial debts170/4 | €504,310 | €362,535 | €243,508 | €121,271 | €43,776 | ▼ 63.9% |
| Amounts payable within one year42/48 | €365,849 | €406,568 | €227,781 | €236,936 | €271,862 | ▲ 14.7% |
| Current portion of amounts payable after more than one year42 | €115,236 | €141,775 | €119,027 | €122,237 | €77,495 | ▼ 36.6% |
| Trade debts44 | €232,534 | €240,908 | €99,387 | €109,484 | €89,253 | ▼ 18.5% |
| Suppliers440/4 | €232,534 | €240,908 | €99,387 | €109,484 | €89,253 | ▼ 18.5% |
| Advances received on contracts in progress46 | - | - | - | - | €4,624 | - |
| Taxes, remuneration and social security45 | €18,041 | €23,884 | €9,367 | €5,215 | €490 | ▼ 90.6% |
| Taxes450/3 | €2,525 | €3,390 | €3,235 | €3,254 | €490 | ▼ 85.0% |
| Remuneration and social security454/9 | €15,516 | €20,494 | €6,132 | €1,961 | €0 | ▼ 100% |
| Other amounts payable47/48 | €37 | - | - | - | €100,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€556,255 | -€657,585 | -€541,774 | -€147,782 | -€137,641 | ▲ 6.9% |
| + Depreciation and write-downs630 | €155,296 | €157,548 | €157,497 | €157,709 | €151,691 | ▼ 3.8% |
| Operating cash flow (approximation) | -€400,958 | -€500,038 | -€384,278 | €9,927 | €14,050 | ▲ 41.5% |
| Investment in fixed assets (approximation) | - | -€49,955 | €43,606 | -€3,870 | €5,004 | ▲ 229% |
| Change in cash | - | -€243,921 | -€193,767 | -€33,553 | -€201,876 | ▼ 502% |
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
12-08
State Gazette act
Reappointment: Renmans Nicolas (managing director)Appointment: Renmans Lars (director)4 facts ▸
State Gazette act
Reappointment: Renmans Nicolas (managing director)
Appointment: Renmans Lars (director)4 facts ▸
- General meeting, 26-06-2025
- Director reappointment, Renmans Nicolas (managing director)
- Other statement, voting result, eenparigheid van stemmen
- Director appointment, Renmans Lars (director)
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€755,142
Net result drops to -€755,142, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 20current ratio 6.93
Current ratio from 0.35 to 6.93; short-term debt falls from €921,111 to €140,919.
31-12
Financial
Equity above €1mEq €2.0m
Equity rises from -€371,928 to €2.0m.
16-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 47 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, 1 in day-to-day management, last change in 2024
Board 1
Renmans Lars
CurrentDirector · since 27-12-2024
Day-to-day management 1
Renmans Nicolas
CurrentManaging director
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
9 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2016
Ground area
4.0 ha
Building footprint
3.6 ha
Parcel 12402A0019/00M000, Flanders. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
Zusto
since 20162.254.465.981
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402A0019/00M000 | Flanders | 4.0 ha | 1 · 3.6 ha | - |
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.
Mandate history
2 people since 2024, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Renmans Lars |
|
| Renmans Nicolas |
|
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2023 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2023 annual accounts of ZUSTO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 14,310 EUR awarded · 14,310 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | -16,916 EUR | 7,944 EUR |
| 2022 | 1 | 31,226 EUR | 6,366 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteMechelen2.254.465.981
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Of 2,474 companies in sector 47279 we hold annual accounts for 949. 408 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-06-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46389Wholesale of other food products
47279Other retail sale of food
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0656824810
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.