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 €26,697 and a net result of €1,597. Equity is growing by ~50.1% per year across the filed fiscal years. Its solvency ranks better than 21% of 9973 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 €1,000 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.
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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 9973 sector peers (2024).
NBB · sector comparisonPosition among 9973 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 →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 227 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€26,697▲ 6.4%
2023 · €25,100
Total assets
€208,198▲ 522%
2023 · €33,452
Net result
€1,597▼ 83.9%
2023 · €9,944
Working capital
€92,238▲ 267%
2023 · €25,100
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€3,891▲ 256%€12,915▲ 232%€5,796▼ 55.1%€14,751▲ 155%€6,756▼ 54.2%
Net result€3,507within the sector's middle half▲ 440%€10,833within the sector's middle half▲ 209%€3,640within the sector's middle half▼ 66.4%€9,944within the sector's middle half▲ 173%€1,597within the sector's middle half▼ 83.9%
Equity€683below the sector's middle half€11,515below the sector's middle half▲ 1,587%€15,155within the sector's middle half▲ 31.6%€25,100within the sector's middle half▲ 65.6%€26,697within the sector's middle half▲ 6.4%
Total assets€34,120below the sector's middle half▲ 33.6%€52,311below the sector's middle half▲ 53.3%€50,056below the sector's middle half▼ 4.3%€33,452below the sector's middle half▼ 33.2%€208,198within the sector's middle half▲ 522%
Debt€33,437▲ 17.9%€40,796▲ 22.0%€34,900▼ 14.5%€8,353▼ 76.1%€181,501▲ 2,073%
Working capital€384below the sector's middle half€11,441within the sector's middle half▲ 2,878%€15,155within the sector's middle half▲ 32.5%€25,100within the sector's middle half▲ 65.6%€92,238above the sector's middle half▲ 267%
Solvency2.0%below the sector's middle half▲ 13.1pp22.0%within the sector's middle half▲ 20.0pp30.3%within the sector's middle half▲ 8.3pp75.0%above the sector's middle half▲ 44.8pp12.8%below the sector's middle half▼ 62.2pp
Current ratio1.01below the sector's middle half▲ 0.151.28within the sector's middle half▲ 0.271.43within the sector's middle half▲ 0.154.01above the sector's middle half▲ 2.572.02within the sector's middle half▼ 1.98
Return on assets (ROA)10.3%within the sector's middle half▲ 7.7pp20.7%above the sector's middle half▲ 10.4pp7.3%within the sector's middle half▼ 13.4pp29.7%above the sector's middle half▲ 22.5pp0.8%within the sector's middle half▼ 29.0pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
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 €208,198
Fixed assets
€25,918
Current assets
€182,279
Equity and liabilities €208,198
Equity
€26,697 ▲ 6.4%
Debt
€181,501 ▲ 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
€7,680
Cash flow
€2,520
Debt to equity
6.80▲
2023 · 0.33
ROE
6.0%▼
2023 · 39.6%
Interest coverage
1.78
Debt ≤ 1 year
€90,041▲
2023 · €8,353
Debt > 1 year
€91,460
Income taxes
€948▼
2023 · €2,801
Staff costs
€3,875▼
2023 · €5,401
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,275 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.5%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,341 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 3,275 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €948 | €1,637 | €5,401 | €3,875 | ▼ 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 | €5,381 | €14,434 | €7,855 | €20,761 | €12,139 | ▼ 41.5% |
| Operating profit (loss)9901 | €3,891 | €12,915 | €5,796 | €14,751 | €6,756 | ▼ 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 | €1,045 | €2,006 | €4,321 | ▲ 115% |
| Recurring financial charges65 | €384 | €713 | €1,045 | €2,003 | €4,318 | ▲ 116% |
| Non-recurring financial charges66B | - | - | - | €2 | €3 | ▲ 29.2% |
| Profit (loss) for the period before taxes9903 | €3,507 | €12,203 | €4,751 | €12,745 | €2,545 | ▼ 80.0% |
| Income taxes67/77 | - | €1,370 | €1,111 | €2,801 | €948 | ▼ 66.2% |
| Profit (loss) for the period9904 | €3,507 | €10,833 | €3,640 | €9,944 | €1,597 | ▼ 83.9% |
| Profit (loss) for the period to be appropriated9905 | €3,507 | €10,833 | €3,640 | €9,944 | €1,597 | ▼ 83.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34,120 | €52,311 | €50,056 | €33,452 | €208,198 | ▲ 522% |
| Formation expenses20 | €299 | €75 | - | - | - | - |
| Fixed assets21/28 | - | - | - | - | €25,918 | - |
| Tangible fixed assets22/27 | - | - | - | - | €25,918 | - |
| Furniture and vehicles24 | - | - | - | - | €25,918 | - |
| Current assets29/58 | €33,821 | €52,236 | €50,056 | €33,452 | €182,279 | ▲ 445% |
| Amounts receivable within one year40/41 | €32,293 | €50,175 | €12,103 | €30,215 | €157,392 | ▲ 421% |
| Trade receivables40 | - | €48,990 | €7,193 | €19,493 | €82,528 | ▲ 323% |
| Other amounts receivable41 | - | €1,185 | €4,910 | €10,722 | €74,864 | ▲ 598% |
| Cash at bank and in hand54/58 | €1,529 | €2,062 | €37,697 | €2,705 | €24,103 | ▲ 791% |
| Deferred charges and accrued income490/1 | - | - | €256 | €532 | €784 | ▲ 47.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34,120 | €52,311 | €50,056 | €33,452 | €208,198 | ▲ 522% |
| Equity10/15 | €683 | €11,515 | €15,155 | €25,100 | €26,697 | ▲ 6.4% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | - | €5,315 | €8,955 | €18,900 | €20,497 | ▲ 8.4% |
| Distributable reserves133 | - | €5,315 | €8,955 | €18,900 | €20,497 | ▲ 8.4% |
| Profit (loss) carried forward14 | -€5,517 | - | - | - | - | - |
| Amounts payable17/49 | €33,437 | €40,796 | €34,900 | €8,353 | €181,501 | ▲ 2,073% |
| Amounts payable after more than one year17 | - | - | - | - | €91,460 | - |
| Financial debts170/4 | - | - | - | - | €91,460 | - |
| Amounts payable within one year42/48 | €33,437 | €40,796 | €34,900 | €8,353 | €90,041 | ▲ 978% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €26,606 | - |
| Trade debts44 | €2,468 | €4,182 | €3,410 | €2,732 | €37,554 | ▲ 1,274% |
| Suppliers440/4 | - | €4,182 | €3,410 | €2,732 | €37,554 | ▲ 1,274% |
| Advances received on contracts in progress46 | - | - | - | - | €9,960 | - |
| Taxes, remuneration and social security45 | - | €3,376 | €2,884 | €4,635 | €6,815 | ▲ 47.0% |
| Taxes450/3 | - | €1,370 | €2,481 | €4,021 | €6,815 | ▲ 69.5% |
| Remuneration and social security454/9 | - | €2,006 | €403 | €615 | - | - |
| Other amounts payable47/48 | - | €33,238 | €28,606 | €985 | €9,106 | ▲ 825% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,507 | €10,833 | €3,640 | €9,944 | €1,597 | ▼ 83.9% |
| + Depreciation and write-downs630 | €224 | €224 | €75 | - | €924 | - |
| Operating cash flow (approximation) | €3,731 | €11,057 | €3,715 | €9,944 | €2,520 | ▼ 74.7% |
| Change in cash | - | €533 | €35,635 | -€34,992 | €21,398 | ▲ 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 €34,900 to €8,353.
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 €10,833 ▲209%
Net result €10,833, 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
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 29,766 companies in this sector we hold annual accounts for 16,066. 12,227 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
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
E-invoicing
Reachable via Peppol
Peppol ID
0208:0675646471
Also
9925:BE0675646471
Registered
04-12-2025
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.