The Belgrade underground laboratory consists of two interconnected spaces, a ground level laboratory and a shallow underground one, at 25 meters of water equivalent. The laboratory hosts a low-background gamma spectroscopy system and cosmic-ray muon detectors. With the recently adopted digital data acquisition system it is possible to simultaneously study independent operations of the two detector systems, as well as processes induced by cosmic-ray muons in germanium spectrometers. Characteristics and potentials of the present experimental setup, together with some preliminary results for the flux of fast neutrons and stopped muons, are reported here.