ARTSTUDIO 54
ActiveSummary
ARTSTUDIO 54 has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €27k and a net result of €2k. Equity is growing by ~50.1% per year across the filed fiscal years. Its solvency ranks better than 21% of 9982 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability35▼-65
Solvency38▼-62
Growth78=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 2.02 against 4.01 in 2023; short-term debt: 43.2% and cash: 11.6% of total assets), but 87.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
12.8%
Return on assets
0.8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 9982 sector peers (2024).
NBB · sector comparisonPosition among 9982 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-10-2025, 90 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
90 d late
2023
74 d late
2022
98 d late
2021
108 d late
2020
153 d late
2019
840 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€27k▲ 6.4%
2023 · €25k
2018: €-3klowest in 7 years
2019: €-3k▲ +18.7% vs 2018
2020: €683▲ +124% vs 2019
2021: €12k▲ +1587% vs 2020
2022: €15k▲ +31.6% vs 2021
2023: €25k▲ +65.6% vs 2022
2024: €27k▲ +6.4% vs 2023highest in 7 years
2018 → 2024
Total assets
€208k▲ 522%
2023 · €33k
2018: €3klowest in 7 years
2019: €26k▲ +903% vs 2018
2020: €34k▲ +33.6% vs 2019
2021: €52k▲ +53.3% vs 2020
2022: €50k▼ -4.3% vs 2021
2023: €33k▼ -33.2% vs 2022
2024: €208k▲ +522% vs 2023highest in 7 years
2018 → 2024
Net result
€2k▼ 83.9%
2023 · €10k
2018: €-6klowest in 7 years
2019: €650▲ +111% vs 2018
2020: €4k▲ +440% vs 2019
2021: €11k▲ +209% vs 2020highest in 7 years
2022: €4k▼ -66.4% vs 2021
2023: €10k▲ +173% vs 2022
2024: €2k▼ -83.9% vs 2023
2018 → 2024
Working capital
€92k▲ 267%
2023 · €25k
2018: €-5klowest in 7 years
2019: €-4k▲ +18.6% vs 2018
2020: €384▲ +110% vs 2019
2021: €11k▲ +2878% vs 2020
2022: €15k▲ +32.5% vs 2021
2023: €25k▲ +65.6% vs 2022
2024: €92k▲ +267% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€683-€12k▲ 1,587%€15k▲ 31.6%€25k▲ 65.6%€27k▲ 6.4%
2020: €683lowest in 5 years
2021: €12k▲ +1587% vs 2020
2022: €15k▲ +31.6% vs 2021
2023: €25k▲ +65.6% vs 2022
2024: €27k▲ +6.4% vs 2023highest in 5 years
Operating result€4k-€13k▲ 232%€6k▼ 55.1%€15k▲ 155%€7k▼ 54.2%
2020: €4klowest in 5 years
2021: €13k▲ +232% vs 2020
2022: €6k▼ -55.1% vs 2021
2023: €15k▲ +155% vs 2022highest in 5 years
2024: €7k▼ -54.2% vs 2023
Net result€4k-€11k▲ 209%€4k▼ 66.4%€10k▲ 173%€2k▼ 83.9%
2020: €4k
2021: €11k▲ +209% vs 2020highest in 5 years
2022: €4k▼ -66.4% vs 2021
2023: €10k▲ +173% vs 2022
2024: €2k▼ -83.9% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 54% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €208k
Fixed assets
€26k
Current assets
€182k
Equity and liabilities €208k
Equity
€27k ▲ 6.4%
Debt
€182k ▲ 2,073%
Debt's share of the balance-sheet total rises from 25.0% to 87.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€8k
Cash flow
€3k
Current ratio
2.02▼
2023 · 4.01
Debt to equity
6.80▲
2023 · 0.33
ROE
6.0%▼
2023 · 39.6%
ROA
0.8%▼
2023 · 29.7%
Interest coverage
1.78
Debt ≤ 1 year
€90k▲
2023 · €8k
Debt > 1 year
€91k
Income taxes
€948▼
2023 · €3k
Staff costs
€4k▼
2023 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€33k€208k▲
Fixed assets21/28-€26k
Tangible fixed assets22/27-€26k
Furniture and vehicles24-€26k
Current assets29/58€33k€182k▲
Amounts receivable within one year40/41€30k€157k▲
Trade receivables40€19k€83k▲
Other amounts receivable41€11k€75k▲
Cash at bank and in hand54/58€3k€24k▲
Deferred charges and accrued income490/1€532€784▲
Equity and liabilities
Total equity and liabilities10/49€33k€208k▲
Equity10/15€25k€27k▲
Contributions10/11€6k€6k=
Reserves13€19k€20k▲
Distributable reserves133€19k€20k▲
Amounts payable17/49€8k€182k▲
Amounts payable after more than one year17-€91k
Financial debts170/4-€91k
Amounts payable within one year42/48€8k€90k▲
Current portion of amounts payable after more than one year42-€27k
Trade debts44€3k€38k▲
Suppliers440/4€3k€38k▲
Advances received on contracts in progress46-€10k
Taxes, remuneration and social security45€5k€7k▲
Taxes450/3€4k€7k▲
Remuneration and social security454/9€615-
Other amounts payable47/48€985€9k▲
Income statement
Code20232024
Remuneration, social security and pensions62€5k€4k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€924
Other operating charges640/8€609€585▼
Gross operating margin9900€21k€12k▼
Operating profit (loss)9901€15k€7k▼
Financial income75/76B€0€109▲
Recurring financial income75€0€109▲
Financial charges65/66B€2k€4k▲
Recurring financial charges65€2k€4k▲
Non-recurring financial charges66B€2€3▲
Profit (loss) for the period before taxes9903€13k€3k▼
Income taxes67/77€3k€948▼
Profit (loss) for the period9904€10k€2k▼
Profit (loss) for the period to be appropriated9905€10k€2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€10k€2k▼
Transfer to equity691/2€10k€2k▼
To other reserves6921€10k€2k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €948 | €2k | €5k | €4k | ▼ 28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €224 | €224 | €75 | - | €924 | - |
| Other operating charges640/8 | - | €348 | €348 | €609 | €585 | ▼ 3.9% |
| Gross operating margin9900 | €5k | €14k | €8k | €21k | €12k | ▼ 41.5% |
| Operating profit (loss)9901 | €4k | €13k | €6k | €15k | €7k | ▼ 54.2% |
| Financial income75/76B | - | €0 | - | €0 | €109 | ▲ 1,092,300% |
| Recurring financial income75 | €0 | €0 | - | €0 | €109 | ▲ 1,092,300% |
| Financial charges65/66B | - | €713 | €1k | €2k | €4k | ▲ 115% |
| Recurring financial charges65 | €384 | €713 | €1k | €2k | €4k | ▲ 116% |
| Non-recurring financial charges66B | - | - | - | €2 | €3 | ▲ 29.2% |
| Profit (loss) for the period before taxes9903 | €4k | €12k | €5k | €13k | €3k | ▼ 80.0% |
| Income taxes67/77 | - | €1k | €1k | €3k | €948 | ▼ 66.2% |
| Profit (loss) for the period9904 | €4k | €11k | €4k | €10k | €2k | ▼ 83.9% |
| Profit (loss) for the period to be appropriated9905 | €4k | €11k | €4k | €10k | €2k | ▼ 83.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34k | €52k | €50k | €33k | €208k | ▲ 522% |
| Formation expenses20 | €299 | €75 | - | - | - | - |
| Fixed assets21/28 | - | - | - | - | €26k | - |
| Tangible fixed assets22/27 | - | - | - | - | €26k | - |
| Furniture and vehicles24 | - | - | - | - | €26k | - |
| Current assets29/58 | €34k | €52k | €50k | €33k | €182k | ▲ 445% |
| Amounts receivable within one year40/41 | €32k | €50k | €12k | €30k | €157k | ▲ 421% |
| Trade receivables40 | - | €49k | €7k | €19k | €83k | ▲ 323% |
| Other amounts receivable41 | - | €1k | €5k | €11k | €75k | ▲ 598% |
| Cash at bank and in hand54/58 | €2k | €2k | €38k | €3k | €24k | ▲ 791% |
| Deferred charges and accrued income490/1 | - | - | €256 | €532 | €784 | ▲ 47.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34k | €52k | €50k | €33k | €208k | ▲ 522% |
| Equity10/15 | €683 | €12k | €15k | €25k | €27k | ▲ 6.4% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | - | €5k | €9k | €19k | €20k | ▲ 8.4% |
| Distributable reserves133 | - | €5k | €9k | €19k | €20k | ▲ 8.4% |
| Profit (loss) carried forward14 | €-6k | - | - | - | - | - |
| Amounts payable17/49 | €33k | €41k | €35k | €8k | €182k | ▲ 2,073% |
| Amounts payable after more than one year17 | - | - | - | - | €91k | - |
| Financial debts170/4 | - | - | - | - | €91k | - |
| Amounts payable within one year42/48 | €33k | €41k | €35k | €8k | €90k | ▲ 978% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €27k | - |
| Trade debts44 | €2k | €4k | €3k | €3k | €38k | ▲ 1,274% |
| Suppliers440/4 | - | €4k | €3k | €3k | €38k | ▲ 1,274% |
| Advances received on contracts in progress46 | - | - | - | - | €10k | - |
| Taxes, remuneration and social security45 | - | €3k | €3k | €5k | €7k | ▲ 47.0% |
| Taxes450/3 | - | €1k | €2k | €4k | €7k | ▲ 69.5% |
| Remuneration and social security454/9 | - | €2k | €403 | €615 | - | - |
| Other amounts payable47/48 | - | €33k | €29k | €985 | €9k | ▲ 825% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €11k | €4k | €10k | €2k | ▼ 83.9% |
| + Depreciation and write-downs630 | €224 | €224 | €75 | - | €924 | - |
| Operating cash flow (approximation) | €4k | €11k | €4k | €10k | €3k | ▼ 74.7% |
| Change in cash | - | €533 | €36k | €-35k | €21k | ▲ 161% |
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
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 90 days late
2024
13-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 74 days late
2023
31-12
Financial
Liquidity triplescurrent ratio 4.01
Current ratio from 1.43 to 4.01; short-term debt falls from €35k to €8k.
06-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 98 days late
2022
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 840 days late
16-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 108 days late
2021
31-12
Financial
Highest result since 2018net €11k ▲209%
Net result €11k, the highest in the series.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 153 days late
2019
31-12
Financial
Back to profitnet €650
Net result €650 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 152 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Binche · 1 establishment unit since 2017
Ground area
2,633 m²
Building footprint
1,493 m²
Volume, LiDAR
7,745 m³
Parcel 55032A0397/00G000, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ART STUDIO
since 20172.264.531.118
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55032A0397/00G000 | Wallonia | 2,633 m² | 1 · 1,493 m² | 7.3 m · 2 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.
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 12,213 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
Founded11-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
43331Floor and wall tiling
Contact
E-mail
christophe.chruszczyk@hotmail.comBinche
Scores and ratios are computed by Checked and are not a credit decision.