Checked.be
Active
BE 0823.025.697Private limited company (pre-2019)
Black Box Studio
Lindestraat 280 ·1030 Schaarbeek, Belgium· 16 yrs active
Sector: Video and film production, excluding cinema and television films
(59113)
Conclusion
Black Box Studio has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53k and a net result of €22k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 68% of 1476 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €53k |
| Net result | €22k |
| Better than sector | 68% |
| Active | 16 yrs |
Financial profile
92
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
100
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2010, 16 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
55
2020
100
2021
100
2022
70
2023
84
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 2.94 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.94 (≥ 1.0)
+5
Leverage
Debt/equity 0.47 (< 1.0)
+10
Profitability
ROE 41% (≥ 10%)
+10
Interest coverage
Interest coverage 142.3× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 6 fiscal years (±1.6%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 67.8% | 49.1% | |
| Net result | €22k | €6k | |
| Equity | €53k | €44k | |
| Gross operating margin | €38k | €23k | |
| Total assets | €79k | €103k |
€37k
+913.4%
20-25
€22k
+915.0%
20-25
€24k
+443.1%
20-25
€79k
-12.8%
20-25
€53k
+66.2%
20-25
€49k
+67.6%
20-25
€13k
+433.7%
20-25
€833
-98.3%
20-25
€25k
-56.5%
20-25
€25k
-56.1%
20-25
2.94
+95.0%
20-25
2.94
+95.0%
20-25
67.8%
+90.6%
20-25
0.47
-73.8%
20-25
41.4%
+510.8%
20-25
28.1%
+1064.4%
20-25
142.26
+828.1%
20-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €37k | €4k | €4k | €34k | €20k |
| Net profit | €22k | €2k | €-1k | €21k | €11k |
| Cash flow | €24k | €4k | €5k | €27k | €17k |
| Staff costs | - | - | - | - | - |
| Income taxes | €13k | €2k | €786 | €7k | €2k |
| Dividends | €833 | €50k | - | - | - |
| Total assets | €79k | €90k | €99k | €119k | €81k |
| Equity | €53k | €32k | €80k | €81k | €68k |
| Debt | €25k | €58k | €19k | €37k | €13k |
| of which ≤ 1y | €25k | €58k | €18k | €28k | €7k |
| of which > 1y | - | - | - | - | - |
| Working capital | €49k | €29k | €76k | €79k | €59k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 2.94 | 1.51 | 5.16 | 3.79 | 8.97 |
| Quick ratio | 2.94 | 1.51 | 5.16 | 3.79 | 8.03 |
| Working capital ratio | 62.5% | 32.5% | 76.9% | 66.6% | 73.0% |
| Solvency | 67.8% | 35.6% | 81.0% | 68.4% | 83.5% |
| Debt / equity | 0.47 | 1.81 | 0.23 | 0.46 | 0.20 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 142.26 | 15.33 | 10.12 | 165.22 | 127.72 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 28.1% | 2.4% | -1.3% | 17.6% | 13.5% |
| ROE | 41.4% | 6.8% | -1.6% | 25.7% | 16.1% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €79k | €90k | €99k | €119k | €81k |
| Fixed assets | 21/28 | €4k | €3k | €5k | €11k | €14k |
| Tangible fixed assets | 22/27 | €4k | €3k | €5k | €11k | €14k |
| Current assets | 29/58 | €74k | €87k | €94k | €107k | €67k |
| Stocks & contracts in progress | 3 | - | - | - | - | €7k |
| Amounts receivable within one year | 40/41 | €36k | €60k | €72k | €92k | €40k |
| Cash & bank | 54/58 | €38k | €27k | €22k | €15k | €20k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €79k | €90k | €99k | €119k | €81k |
| Equity | 10/15 | €53k | €32k | €80k | €81k | €68k |
| Contributions / capital | 10/11 | €25k | €25k | €25k | €25k | €25k |
| Reserves | 13 | €25k | €3k | €48k | €48k | €48k |
| Accumulated profits (losses) | 14 | €4k | €5k | €7k | €9k | €-5k |
| Amounts payable | 17/49 | €25k | €58k | €19k | €37k | €13k |
| Amounts payable within one year | 42/48 | €25k | €58k | €18k | €28k | €7k |
| Trade debts payable within one year | 44 | €2k | €850 | €4k | €65 | €409 |
| Income statement | ||||||
| Gross operating margin | 9900 | €38k | €5k | €5k | €35k | €21k |
| Operating result | 9901 | €35k | €1k | €-3k | €28k | €13k |
| Financial income | 75 | €15 | €3k | €3k | - | - |
| Financial charges | 65 | €262 | €240 | €381 | €206 | €154 |
| Result before taxes | 9903 | €35k | €5k | €-507 | €28k | €13k |
| Income taxes | 67/77 | €13k | €2k | €786 | €7k | €2k |
| Net result for the period | 9904 | €22k | €2k | €-1k | €21k | €11k |
| Result to be appropriated | 9905 | €22k | €2k | €-1k | €21k | €11k |
Legal Structure
| NACE primary | Video and film production, excluding cinema and television films(59113) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 09-02-2010 |
| Status | Active |
| Postal code | 1030 |
Establishment units
Black Box Studio
since 20102.185.194.224
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21903B0017/00T005 | Brussels | 1,023 m² | 1 · 182 m² | 8.0 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2020net €22k ▲915%
Operating result €35k, net result €22k, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 86 days late
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 21 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 60 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Video and film production, excluding cinema and television films59113Computer programming, consultancy and related activities62010Computer programming62100Computing infrastructure, data processing, hosting and related activities63100Computing infrastructure, data processing, hosting and other information service activities63110Other professional, scientific and technical activities74103Graphic design and visual communication74120Photography, excluding press photography74201
Names & trade names
| Legal nameNL | Black Box Studio |
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