BELGA STUDIOS
ActiveSummary
The annual accounts of BELGA STUDIOS for fiscal year 2025 show a net loss of 70% of the equity at the start of that year. The 2025 annual accounts show equity of €122,740 and a net result of -€283,901. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 393 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability19▲+8
Solvency28▼-7
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.37 against 0.17 in 2024; short-term debt: 12.2% and cash: 3.7% of total assets), and 96.9% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 59
Relative position
BE, all sectors
reference
Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 393 sector peers (2025).
NBB · sector comparisonPosition among 393 sector peers
Solvency
better than 21%
← weakest
strongest →
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
3 d early
2023
13 d early
2022
20 d early
2021
17 d early
2020
26 d early
2019
32 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 20 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% 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 14 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€117,500
EBIT margin
-1276.9%
Net result
-€283,901▼ 249%
2024 · -€81,388
Working capital
-€302,602▲ 89.4%
2024 · -€2.8m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities, 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
Turnover€117,500
Operating result-€22,197▲ 10.5%-€42,499▼ 91.5%€110,497-€1.5m-€28,590▲ 98.1%
Net result-€56,149▼ 8.2%-€99,507▼ 77.2%-€169,549▼ 70.4%-€81,388▲ 52.0%-€283,901below the sector's middle half▼ 249%
EBIT margin-1276.9%
Equity€7,085▼ 88.8%-€92,422€902,029€406,641▼ 54.9%€122,740within the sector's middle half▼ 69.8%
Total assets€2.4m▲ 17.1%€2.7m▲ 14.2%€4.8m▲ 79.1%€4.0m▼ 17.1%€3.9mabove the sector's middle half▼ 2.0%
Debt€2.3m▲ 21.1%€2.7m▲ 18.9%€3.5m▲ 27.6%€3.6m▲ 1.5%€3.8m▲ 5.7%
Working capital-€2.3m▼ 21.4%-€2.7m▼ 19.0%-€3.3m▼ 19.4%-€2.8m▲ 12.8%-€302,602below the sector's middle half▲ 89.4%
Solvency0.3%▼ 2.8pp-3.4%▼ 3.7pp18.6%▲ 22.0pp10.1%▼ 8.5pp3.1%below the sector's middle half▼ 7.0pp
Current ratio0.01=0.00=0.05▲ 0.040.17▲ 0.120.37below the sector's middle half▲ 0.20
Return on assets (ROA)-2.4%▲ 0.2pp-3.7%▼ 1.3pp-3.5%▲ 0.2pp-2.0%▲ 1.5pp-7.2%within the sector's middle half▼ 5.2pp
Staff (FTE)43
above
within
below
the middle half (P25 to P75) of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities, 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 €28,590 in 2025 against €1.5m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€3.8m ▲ 9.3%
Current assets
€178,699 ▼ 69.2%
Equity and liabilities €3.9m
Equity
€122,740 ▼ 69.8%
Provisions
€50,000 =
Debt
€3.8m ▲ 5.7%
Debt's share of the balance-sheet total rises from 88.6% to 95.6%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
30.65▲
2024 · 8.75
ROE
-231.3%▼
2024 · -20.0%
Debt ≤ 1 year
€481,301▼
2024 · €3.4m
Debt > 1 year
€3.3m▲
2024 · €129,806
Staff costs
€0▼
2024 · €1,424
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 912 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 95% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
2.4%
went bankrupt
2.1%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 912 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €2.6m | €214,875 | - | - |
| Turnover70 | - | - | - | €117,500 | - | - |
| Own construction capitalised72 | - | - | €2.6m | - | - | - |
| Other operating income74 | - | - | €6,905 | €97,375 | - | - |
| Operating charges60/66A | €22,197 | €42,499 | €2.5m | €1.7m | - | - |
| Goods for resale, raw materials and consumables60 | - | - | €1.7m | - | - | - |
| Purchases600/8 | - | - | €1.7m | - | - | - |
| Services and other goods61 | €21,831 | €42,054 | €50,857 | €72,721 | - | - |
| Remuneration, social security and pensions62 | -€131 | €2 | €748,053 | €1,424 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1.4m | - | - |
| Other operating charges640/8 | €497 | €443 | €634 | €205,517 | €75 | ▼ 100.0% |
| Gross operating margin9900 | - | - | - | - | -€28,515 | - |
| Operating profit (loss)9901 | -€22,197 | -€42,499 | €110,497 | -€1.5m | -€28,590 | ▲ 98.1% |
| Financial income75/76B | €1,938 | €3,216 | €6,602 | €1.2m | €5,635 | ▼ 99.5% |
| Recurring financial income75 | €1,938 | €3,216 | €6,602 | €1.2m | €5,635 | ▼ 99.5% |
| Income from financial fixed assets750 | €1,938 | €3,216 | €6,600 | €6,592 | - | - |
| Other financial income752/9 | - | - | €2 | €1.2m | - | - |
| Financial charges65/66B | €35,890 | €60,224 | €286,648 | €139,652 | €260,947 | ▲ 86.9% |
| Recurring financial charges65 | €35,890 | €60,224 | €286,648 | €139,652 | €120,052 | ▼ 14.0% |
| Debt charges650 | €35,069 | €59,377 | €283,845 | €138,074 | - | - |
| Other financial charges652/9 | €821 | €847 | €2,803 | €1,578 | - | - |
| Non-recurring financial charges66B | - | - | - | - | €140,895 | - |
| Profit (loss) for the period before taxes9903 | -€56,149 | -€99,507 | -€169,549 | -€469,388 | -€283,901 | ▲ 39.5% |
| Transfer from deferred taxes780 | - | - | - | €388,000 | - | - |
| Profit (loss) for the period9904 | -€56,149 | -€99,507 | -€169,549 | -€81,388 | -€283,901 | ▼ 249% |
| Profit (loss) for the period to be appropriated9905 | -€56,149 | -€99,507 | -€169,549 | -€81,388 | -€283,901 | ▼ 249% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.7m | €4.8m | €4.0m | €3.9m | ▼ 2.0% |
| Formation expenses20 | - | - | - | - | €0 | - |
| Fixed assets21/28 | €2.4m | €2.7m | €4.7m | €3.4m | €3.8m | ▲ 9.3% |
| Intangible fixed assets21 | €2.3m | €2.6m | €4.6m | €3.3m | €3.7m | ▲ 12.8% |
| Tangible fixed assets22/27 | - | - | - | - | €0 | - |
| Assets under construction and advance payments27 | - | - | - | - | €0 | - |
| Financial fixed assets28 | €105,622 | €110,938 | €124,068 | €133,060 | €30,000 | ▼ 77.5% |
| Affiliated companies280/1 | €105,622 | €110,938 | €123,568 | €133,060 | - | - |
| Participating interests280 | €186 | €186 | €186 | €186 | - | - |
| Amounts receivable281 | €105,436 | €110,752 | €123,382 | €132,874 | - | - |
| Other financial fixed assets284/8 | - | - | €500 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €500 | - | - | - |
| Current assets29/58 | €12,013 | €12,394 | €156,171 | €580,930 | €178,699 | ▼ 69.2% |
| Amounts receivable within one year40/41 | €6,990 | €6,611 | €152,492 | €351,812 | €34,214 | ▼ 90.3% |
| Trade receivables40 | - | - | €4,209 | €285,537 | €2,032 | ▼ 99.3% |
| Other amounts receivable41 | €6,990 | €6,611 | €148,283 | €66,275 | €32,181 | ▼ 51.4% |
| Cash at bank and in hand54/58 | €5,023 | €5,783 | €3,679 | €229,118 | €144,486 | ▼ 36.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.7m | €4.8m | €4.0m | €3.9m | ▼ 2.0% |
| Equity10/15 | €7,085 | -€92,422 | €902,029 | €406,641 | €122,740 | ▼ 69.8% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | -€442,915 | -€542,422 | -€711,971 | -€793,359 | -€1.1m | ▼ 35.8% |
| Investment grants15 | €150,000 | €150,000 | €1.3m | €150,000 | €150,000 | = |
| Provisions and deferred taxes16 | €50,000 | €50,000 | €438,000 | €50,000 | €50,000 | = |
| Deferred taxes168 | €50,000 | €50,000 | €438,000 | €50,000 | €50,000 | = |
| Amounts payable17/49 | €2.3m | €2.7m | €3.5m | €3.6m | €3.8m | ▲ 5.7% |
| Amounts payable after more than one year17 | - | - | - | €129,806 | €3.3m | ▲ 2,421% |
| Financial debts170/4 | - | - | - | €129,806 | €143,622 | ▲ 10.6% |
| Credit institutions173 | - | - | - | €129,806 | - | - |
| Other amounts payable178/9 | - | - | - | - | €3.1m | - |
| Amounts payable within one year42/48 | €2.3m | €2.7m | €3.4m | €3.4m | €481,301 | ▼ 86.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €81,152 | €6,864 | ▼ 91.5% |
| Financial debts43 | €160,000 | €50,000 | €98,036 | €250,000 | €250,000 | = |
| Credit institutions430/8 | - | - | €98,036 | €250,000 | €0 | ▼ 100% |
| Other loans439 | €160,000 | €50,000 | - | - | €250,000 | - |
| Trade debts44 | €541,829 | €657,690 | €1.1m | €1.2m | €224,437 | ▼ 81.1% |
| Suppliers440/4 | €541,829 | €657,690 | €1.1m | €1.2m | €224,437 | ▼ 81.1% |
| Taxes, remuneration and social security45 | - | - | €19,411 | - | €0 | - |
| Taxes450/3 | - | - | - | - | €0 | - |
| Remuneration and social security454/9 | - | - | €19,411 | - | €0 | - |
| Other amounts payable47/48 | €1.6m | €2.0m | €2.2m | €1.9m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €83,904 | €150 | €8,333 | ▲ 5,455% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€56,149 | -€99,507 | -€169,549 | -€81,388 | -€283,901 | ▼ 249% |
| + Depreciation and write-downs630 | - | - | - | €1.4m | - | - |
| Operating cash flow (approximation) | -€56,149 | -€99,507 | -€169,549 | €1.4m | -€283,901 | ▼ 121% |
| Investment in fixed assets (approximation) | - | -€336,955 | -€2.0m | -€180,404 | -€320,881 | ▼ 77.9% |
| Change in cash | - | €760 | -€2,104 | €225,439 | -€84,632 | ▼ 138% |
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
20-07
State Gazette act
Reappointment: DGST & Partners - réviseurs d'entreprises (statutory auditor)Permanent representative: Bastien Sirodot4 facts ▸
State Gazette act
Reappointment: DGST & Partners - réviseurs d'entreprises (statutory auditor)
Permanent representative: Bastien Sirodot4 facts ▸
- General meeting, 30-06-2026
- Auditor reappointment, DGST & Partners - réviseurs d'entreprises (statutory auditor)
- Permanent representative, Bastien Sirodot (permanent representative)
- Director in office, 10/9 Films SRL (director)
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€283,901
Net result drops to -€283,901, the lowest in the series.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Equity above €500,000Eq €902,029
Equity rises from -€92,422 to €902,029.
11-07
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
DGST & Partners - réviseurs d'entreprises
CurrentStatutory auditor · since 20-07-2026 · perm. rep.: Fabio Crisi
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 →
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2012
Ground area
1.1 ha
Building footprint
2,000 m²
Volume, LiDAR
36,663 m³
2 parcels, Wallonia · tallest building 22.9 m, ±6 floors. Linked by address, not a title deed.
34
companies at this address
See who is registered here
1 establishment unit
Avenue du Japon 14, 1420 Braine-l'Alleud
since 20122.216.025.871
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
| 25744D0152/00N000 | Wallonia | 1,369 m² | 1 · 227 m² | 14.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| DGST & Partners - réviseurs d'entreprises |
|
Structure & network
Owners and holdings
2 owners · 1 holdingChain of control
- Belga-Films
- BELGA STUDIOS
Highest known parent: Belga-Films. The sources do not say who stands above it.
Owners 2
- Belga-Filmsparent60%
- Sourceaccounts MA & C 202510%
Holdings 1
-
1%
According to the 2024 annual accounts of BELGA STUDIOS 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
No current directors or connected companies found in the register.
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Of 1,319 companies in sector 59111 we hold annual accounts for 688. 494 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
Founded24-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
59111Production of cinema films
59112Motion picture, video and television programme production, sound recording and music publishing activities
59120Post-production of films, video and television programmes
E-invoicing
Reachable via Peppol
Peppol ID
0208:0849078909
Also
9925:BE0849078909
Registered
02-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.