BALIO STUDIO
ActiveFinancials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 29-08-2025 PDF all 16 filings
Turnover
≈ €2.3m
Estimated: probably between €1.8m and €2.8m
EBIT margin
Not included in this filing
Net result
€7,469▼ 90.4%
2023 · €77,614
Working capital
€666,030▲ 100%
2023 · €332,977
In the rankings
#8 employer in Hainaut, Computer programming and consultancy sector#9 company by total assets in Mons, Telecoms and IT sector
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€67,076
▼ 24.7%
2024
20182024
Net result
€7,469
▼ 90.4%
2024
middle half of the sector
20182024
Equity
€267,314
▼ 16.2%
2024
middle half of the sector
20182024
Total assets
€1.5m
▲ 50.9%
2024
middle half of the sector
20182024
Debt
€1.2m
▲ 83.5%
2024
20182024
Working capital
€666,030
▲ 100%
2024
middle half of the sector
20182024
Solvency
18.1%
▼ 14.5pp
2024
middle half of the sector
20182024
Current ratio
1.95
▲ 0.19
2024
middle half of the sector
20182024
Return on assets (ROA)
0.5%
▼ 7.4pp
2024
middle half of the sector
20182024
Staff (FTE)
24.1
▲ 23.6%
2024
middle half of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€0.08m-€0.08m€0.06m▼ 26.0%€0.05m▼ 14.8%€0.03m▼ 46.6%€0.09m▲ 222%€0.07m▼ 24.7%
Net result-€0.09m-€0.06m€0.04mwithin the sector's middle half▼ 36.6%€0.03mwithin the sector's middle half▼ 30.6%-€0.001mbelow the sector's middle half€0.08mwithin the sector's middle half€0.007mwithin the sector's middle half▼ 90.4%
Equity€0.3m-€0.4m▲ 19.9%€0.4mabove the sector's middle half▲ 10.5%€0.4mabove the sector's middle half▼ 8.4%€0.3mabove the sector's middle half▼ 16.7%€0.3mwithin the sector's middle half▲ 6.2%€0.3mwithin the sector's middle half▼ 16.2%
Total assets€0.8m-€0.7m▼ 6.5%€0.7mabove the sector's middle half▼ 9.0%€0.9mabove the sector's middle half▲ 31.7%€0.8mabove the sector's middle half▼ 7.1%€1.0mwithin the sector's middle half▲ 21.7%€1.5mwithin the sector's middle half▲ 50.9%
Debt€0.5m-€0.4m▼ 23.1%€0.3m▼ 28.0%€0.5m▲ 91.9%€0.5m▼ 0.3%€0.7m▲ 31.0%€1.2m▲ 83.5%
Working capital-€0.2m--€0.2m▲ 29.9%€0.01mbelow the sector's middle half€0.2mabove the sector's middle half▲ 16×€0.1mabove the sector's middle half▼ 24.1%€0.3mwithin the sector's middle half▲ 135%€0.7mwithin the sector's middle half▲ 100%
Solvency38.6%-49.4%▲ 10.9pp60.0%within the sector's middle half▲ 10.6pp41.7%within the sector's middle half▼ 18.3pp37.4%within the sector's middle half▼ 4.3pp32.6%within the sector's middle half▼ 4.8pp18.1%within the sector's middle half▼ 14.5pp
Current ratio0.31-0.31=1.07below the sector's middle half▲ 0.761.63within the sector's middle half▲ 0.571.39within the sector's middle half▼ 0.241.76within the sector's middle half▲ 0.371.95within the sector's middle half▲ 0.19
Return on assets (ROA)-12.3%-8.2%▲ 20.5pp5.7%within the sector's middle half▼ 2.5pp3.0%below the sector's middle half▼ 2.7pp-0.1%below the sector's middle half▼ 3.2pp7.9%within the sector's middle half▲ 8.1pp0.5%within the sector's middle half▼ 7.4pp
Staff (FTE)6-5▼ 16.7%7above the sector's middle half▲ 40.0%8▲ 14.3%15▲ 87.5%19.5within the sector's middle half▲ 30.0%24.1within the sector's middle half▲ 23.6%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 2024 is 25% lower than in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.5m
Fixed assets
€105,337 ▼ 49.1%
Current assets
€1.4m ▲ 77.8%
Equity and liabilities €1.5m
Equity
€267,314 ▼ 16.2%
Debt
€1.2m ▲ 83.5%
Debt's share of the balance-sheet total rises from 67.4% to 81.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€166,000▼
2023 · €195,457
Cash flow
€106,392▼
2023 · €184,029
Quick ratio
1.48▲
2023 · 1.38
Debt to equity
4.52▲
2023 · 2.06
ROE
2.8%▼
2023 · 24.3%
Interest coverage
1.49▼
2023 · 5.84
Debt ≤ 1 year
€703,003▲
2023 · €436,809
Debt > 1 year
€321,257▲
2023 · €215,810
Income taxes
€16,189▼
2023 · €41,950
Staff costs
€1.1m▲
2023 · €865,886
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 11 | 18 | 24 | 24 |
| full-time | 11 | 17 | 22 | 23 |
| part-time | 0 | 1 | 2 | 1 |
| in full-time equivalents | 11 | 18 | 22.5 | 23.1 |
| Average over the year, in full-time equivalents | 8 | 15 | 19.5 | 24.1 |
| On a permanent contract | 6 | 14 | 16 | 15 |
| Joined | 6 | 18 | 13 | 12 |
| Left | 3 | 11 | 7 | 12 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €12,550 | €23,082 | €30,132 | €6,014 |
| Intangible fixed assets | - | - | €0 | - |
| Depreciation and write-downs of the year | €99,244 | €103,647 | €106,415 | €98,923 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €0 | €0.001m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.7m | €0.9m | €1.1m | ▲ 32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.01m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 7.0% |
| Other operating charges640/8 | - | - | - | €0.003m | €0.001m | €0.004m | €0.007m | ▲ 81.8% |
| Non-recurring operating charges66A | - | - | - | €389 | €0.001m | €123 | €0 | ▼ 100% |
| Gross operating margin9900 | €0.07m | €0.3m | €0.3m | €0.4m | €0.8m | €1.1m | €1.3m | ▲ 24.2% |
| Operating profit (loss)9901 | -€0.08m | €0.08m | €0.06m | €0.05m | €0.03m | €0.09m | €0.07m | ▼ 24.7% |
| Financial income75/76B | - | - | - | - | €0.003m | €0.06m | €0.07m | ▲ 6.5% |
| Recurring financial income75 | €67 | €0.001m | €0.007m | - | €0.003m | €0.06m | €0.07m | ▲ 6.5% |
| Financial charges65/66B | - | - | - | €0.008m | €0.02m | €0.03m | €0.1m | ▲ 233% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.02m | €0.008m | €0.02m | €0.03m | €0.1m | ▲ 233% |
| Profit (loss) for the period before taxes9903 | -€0.09m | €0.06m | €0.05m | €0.04m | €0.01m | €0.1m | €0.02m | ▼ 80.2% |
| Income taxes67/77 | €14 | - | €0.01m | €0.02m | €0.01m | €0.04m | €0.02m | ▼ 61.4% |
| Profit (loss) for the period9904 | -€0.09m | €0.06m | €0.04m | €0.03m | -€0.001m | €0.08m | €0.007m | ▼ 90.4% |
| Profit (loss) for the period to be appropriated9905 | -€0.09m | €0.06m | €0.04m | €0.03m | -€0.001m | €0.08m | €0.007m | ▼ 90.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.7m | €0.7m | €0.9m | €0.8m | €1.0m | €1.5m | ▲ 50.9% |
| Fixed assets21/28 | €0.7m | €0.7m | €0.5m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 49.1% |
| Intangible fixed assets21 | €0.5m | €0.5m | €0.5m | €0.4m | €0.3m | €0.2m | €0.09m | ▼ 50.0% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €377 | €0.01m | €0.03m | €0.03m | €0.02m | ▼ 44.8% |
| Land and buildings22 | - | - | - | - | €0.008m | €0.006m | €0.004m | ▼ 31.8% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.01m | €0.01m | €0.005m | ▼ 64.6% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.006m | €0.008m | €0.007m | ▼ 17.4% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.1m | €0.07m | €0.2m | €0.5m | €0.5m | €0.8m | €1.4m | ▲ 77.8% |
| Stocks and contracts in progress3 | €0.02m | €0.01m | €0.01m | €0.01m | €0.1m | €0.2m | €0.3m | ▲ 96.5% |
| Stocks30/36 | - | - | - | €0.01m | - | - | €0.2m | - |
| Contracts in progress37 | - | - | - | - | €0.1m | €0.2m | €0.1m | ▼ 40.1% |
| Amounts receivable within one year40/41 | €0.06m | €0.04m | €0.1m | €0.2m | €0.1m | €0.5m | €0.8m | ▲ 67.7% |
| Trade receivables40 | - | - | - | €0.2m | €0.004m | €0.3m | €0.2m | ▼ 32.4% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.1m | €0.2m | €0.6m | ▲ 240% |
| Current investments50/53 | - | - | - | - | - | €0.1m | €0.1m | = |
| Cash at bank and in hand54/58 | €0.001m | €0.02m | €0.04m | €0.2m | €0.2m | €0.01m | €0.09m | ▲ 669% |
| Deferred charges and accrued income490/1 | - | - | - | - | €13 | €0.01m | €0.06m | ▲ 405% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.7m | €0.7m | €0.9m | €0.8m | €1.0m | €1.5m | ▲ 50.9% |
| Equity10/15 | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 16.2% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | - | - | - | - |
| Issued capital100 | - | - | - | €0.07m | - | - | - | - |
| Reserves13 | €0.009m | €0.009m | €0.009m | €0.03m | €0.03m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.006m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €0.006m | €0 | - | - |
| Own shares acquired1312 | - | - | - | - | - | €0.1m | €0.1m | = |
| Tax-exempt reserves132 | - | - | - | €0.003m | €0.003m | €0 | - | - |
| Distributable reserves133 | - | - | - | €0.03m | €0.03m | €0.003m | €0.003m | = |
| Profit (loss) carried forward14 | -€0.07m | -€0.01m | €0.02m | €0.03m | €0.02m | €0.01m | €0.02m | ▲ 58.5% |
| Investment grants15 | - | - | - | €0.2m | €0.2m | €0.1m | €0.06m | ▼ 50.0% |
| Amounts payable17/49 | €0.5m | €0.4m | €0.3m | €0.5m | €0.5m | €0.7m | €1.2m | ▲ 83.5% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.09m | €0.2m | €0.1m | €0.2m | €0.3m | ▲ 48.9% |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.2m | €0.3m | ▲ 48.9% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.7m | ▲ 60.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.1m | €0.05m | €0.2m | ▲ 236% |
| Financial debts43 | - | - | - | - | - | €0.08m | €0.1m | ▲ 55.5% |
| Credit institutions430/8 | - | - | - | - | - | €0.08m | €0.1m | ▲ 55.5% |
| Trade debts44 | €0.06m | €0.04m | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 10.2% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 10.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.1m | €0.2m | €0.3m | ▲ 48.7% |
| Taxes450/3 | - | - | - | €0.03m | €0.02m | €0.04m | €0.07m | ▲ 89.3% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.1m | €0.2m | €0.2m | ▲ 39.2% |
| Other amounts payable47/48 | - | - | - | €0.005m | - | - | €0.002m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.005m | €0.2m | ▲ 35× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€94,537 | €59,025 | €37,404 | €25,952 | -€1,176 | €77,614 | €7,469 | ▼ 90.4% |
| + Depreciation and write-downs630 | €22,848 | €21,431 | €12,555 | €99,244 | €103,647 | €106,415 | €98,923 | ▼ 7.0% |
| Operating cash flow (approximation) | -€71,689 | €80,456 | €49,959 | €125,196 | €102,471 | €184,029 | €106,392 | ▼ 42.2% |
| Investment in fixed assets (approximation) | - | -€1 | €171,699 | -€12,550 | -€23,082 | -€13,034 | €2,737 | - |
| Change in cash | - | €14,988 | €25,054 | €189,320 | €9,988 | -€228,685 | €75,524 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,107 companies had the same profile as BALIO STUDIO has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.0%
was still going
0.9%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BALIO STUDIO itself is higher: 1.7% within 12 months. It rests on far more data about BALIO STUDIO than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,107 companies, not a prediction for BALIO STUDIO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 29-08-2025 | 2025-00431230 | |
| 31-12-2023 | full format | 30-09-2024 | 2024-00484339 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00154999 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20104948 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-32500243 | |
| 31-12-2019 | micro format | 13-03-2020 | 2020-06700245 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-55700415 | |
| 31-12-2017 | full format | 28-08-2018 | 2018-52600260 | |
| 31-12-2016 | full format | 12-07-2017 | 2017-30600432 | |
| 31-12-2015 | full format | 02-08-2016 | 2016-39500264 |