CHARBON STUDIO
ActiveSummary
CHARBON STUDIO has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51,233 and a net result of €17,507. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 58% of 392 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+15
Solvency64▲+28
Growth63▲+13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.27 in 2024; short-term debt: 37% and cash: 4.9% of total assets), but 60.8% of the assets are financed with debt.
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Signals
Six 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
39.2%
Return on assets
13.4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €51,233
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
157 d early
2023
9 d early
2022
40 d early
2021
18 d late
2020
4 d early
2019
38 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 33 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€265,324▲ 28.4%
2021 · €206,662
EBIT margin
0.8%▼ 6.5pp
2021 · 7.3%
Net result
€17,507▲ 1,665%
2024 · €992
Working capital
€28,371▲ 51.6%
2024 · €18,711
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€206,662▲ 17.4%€265,324▲ 28.4%
Operating result€15,020€2,027▼ 86.5%-€9,727€451€21,754▲ 4,722%
Net result€18,016within the sector's middle half-€935within the sector's middle half-€13,604below the sector's middle half▼ 1,355%€992within the sector's middle half€17,507within the sector's middle half▲ 1,665%
EBIT margin7.3%▲ 16.0pp0.8%▼ 6.5pp
Equity€27,773within the sector's middle half▲ 185%€26,838within the sector's middle half▼ 3.4%€13,235below the sector's middle half▼ 50.7%€14,227below the sector's middle half▲ 7.5%€51,233within the sector's middle half▲ 260%
Total assets€118,964within the sector's middle half▲ 3.8%€146,562within the sector's middle half▲ 23.2%€97,004below the sector's middle half▼ 33.8%€133,249below the sector's middle half▲ 37.4%€130,780within the sector's middle half▼ 1.9%
Debt€91,191▼ 13.0%€119,724▲ 31.3%€83,769▼ 30.0%€119,023▲ 42.1%€79,547▼ 33.2%
Working capital€16,654▲ 435%€16,207▼ 2.7%-€19,328€18,711€28,371▲ 51.6%
Solvency23.3%within the sector's middle half▲ 14.8pp18.3%within the sector's middle half▼ 5.0pp13.6%within the sector's middle half▼ 4.7pp10.7%within the sector's middle half▼ 3.0pp39.2%within the sector's middle half▲ 28.5pp
Staff (FTE)11below the sector's middle half=1below the sector's middle half=1within the sector's middle half=
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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 4,722% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130,780
Fixed assets
€54,030 ▲ 22.6%
Current assets
€76,750 ▼ 13.9%
Equity and liabilities €130,780
Equity
€51,233 ▲ 260%
Debt
€79,547 ▼ 33.2%
Debt's share of the balance-sheet total falls from 89.3% to 60.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35,273▲
2024 · €25,005
Cash flow
€31,026▲
2024 · €25,546
Current ratio
1.59▲
2024 · 1.27
Debt to equity
1.55▼
2024 · 8.37
ROE
34.2%▲
2024 · 7.0%
ROA
13.4%▲
2024 · 0.7%
Interest coverage
8.33▲
2024 · 6.93
Debt ≤ 1 year
€48,379▼
2024 · €70,457
Debt > 1 year
€30,944▼
2024 · €46,705
Income taxes
€12
Staff costs
€45,808▲
2024 · €44,170
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
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 bankruptcy probability of 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €206,662 | €265,324 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €170,187 | €207,136 | - | - | - | - |
| Remuneration, social security and pensions62 | €6,264 | €41,790 | €38,143 | €44,170 | €45,808 | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,983 | €19,451 | €20,254 | €24,554 | €13,519 | ▼ 44.9% |
| Other operating charges640/8 | €348 | €348 | €1,900 | €843 | €9,059 | ▲ 975% |
| Gross operating margin9900 | €36,614 | €63,616 | €50,569 | €70,017 | €90,140 | ▲ 28.7% |
| Operating profit (loss)9901 | €15,020 | €2,027 | -€9,727 | €451 | €21,754 | ▲ 4,722% |
| Financial income75/76B | €7,506 | €2 | €40 | €4,147 | €0 | ▼ 100.0% |
| Recurring financial income75 | €7,506 | €2 | €40 | €4,147 | €0 | ▼ 100.0% |
| Financial charges65/66B | €4,510 | €2,964 | €3,917 | €3,606 | €4,236 | ▲ 17.5% |
| Recurring financial charges65 | €4,510 | €2,964 | €3,917 | €3,606 | €4,236 | ▲ 17.5% |
| Profit (loss) for the period before taxes9903 | €18,016 | -€935 | -€13,604 | €992 | €17,518 | ▲ 1,666% |
| Income taxes67/77 | - | - | - | - | €12 | - |
| Profit (loss) for the period9904 | €18,016 | -€935 | -€13,604 | €992 | €17,507 | ▲ 1,665% |
| Profit (loss) for the period to be appropriated9905 | €18,016 | -€935 | -€13,604 | €992 | €17,507 | ▲ 1,665% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €118,964 | €146,562 | €97,004 | €133,249 | €130,780 | ▼ 1.9% |
| Formation expenses20 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €60,505 | €58,622 | €65,550 | €44,081 | €54,030 | ▲ 22.6% |
| Intangible fixed assets21 | - | - | €27,471 | €21,947 | €21,699 | ▼ 1.1% |
| Tangible fixed assets22/27 | €58,763 | €56,880 | €36,379 | €19,234 | €26,089 | ▲ 35.6% |
| Furniture and vehicles24 | €40,057 | €40,643 | €23,315 | €8,373 | €26,089 | ▲ 212% |
| Other tangible fixed assets26 | €18,705 | €16,237 | €13,064 | €10,862 | - | - |
| Financial fixed assets28 | €1,742 | €1,742 | €1,700 | €2,900 | €6,242 | ▲ 115% |
| Current assets29/58 | €58,459 | €87,940 | €31,454 | €89,168 | €76,750 | ▼ 13.9% |
| Amounts receivable within one year40/41 | €47,067 | €83,109 | €31,454 | €88,490 | €70,297 | ▼ 20.6% |
| Trade receivables40 | €47,067 | €79,060 | €23,566 | €83,414 | €70,297 | ▼ 15.7% |
| Other amounts receivable41 | €0 | €4,049 | €7,887 | €5,077 | - | - |
| Cash at bank and in hand54/58 | €9,500 | €3,624 | - | €597 | €6,453 | ▲ 981% |
| Deferred charges and accrued income490/1 | €1,893 | €1,207 | - | €81 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €118,964 | €146,562 | €97,004 | €133,249 | €130,780 | ▼ 1.9% |
| Equity10/15 | €27,773 | €26,838 | €13,235 | €14,227 | €51,233 | ▲ 260% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Revaluation surpluses12 | - | - | - | - | €19,500 | - |
| Reserves13 | €13,100 | €13,100 | €13,100 | €13,100 | €13,100 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €11,240 | €11,240 | €13,100 | €13,100 | €13,100 | = |
| Profit (loss) carried forward14 | -€3,927 | -€4,862 | -€18,465 | -€17,473 | €33 | ▲ 100% |
| Amounts payable17/49 | €91,191 | €119,724 | €83,769 | €119,023 | €79,547 | ▼ 33.2% |
| Amounts payable after more than one year17 | €43,807 | €29,565 | €25,279 | €46,705 | €30,944 | ▼ 33.7% |
| Financial debts170/4 | €43,807 | €29,565 | €25,279 | €46,705 | €30,944 | ▼ 33.7% |
| Amounts payable within one year42/48 | €41,805 | €71,733 | €50,782 | €70,457 | €48,379 | ▼ 31.3% |
| Current portion of amounts payable after more than one year42 | €14,384 | €14,242 | €4,286 | €13,575 | €15,787 | ▲ 16.3% |
| Financial debts43 | - | - | €20,000 | €16,197 | €1,117 | ▼ 93.1% |
| Credit institutions430/8 | - | - | €20,000 | - | - | - |
| Other loans439 | - | - | - | €16,197 | €1,117 | ▼ 93.1% |
| Trade debts44 | €24,822 | €20,164 | €23,935 | €30,666 | €4,759 | ▼ 84.5% |
| Suppliers440/4 | €24,822 | €20,164 | €23,935 | €30,666 | €4,759 | ▼ 84.5% |
| Taxes, remuneration and social security45 | €922 | €17,962 | €2,265 | €10,019 | €12,925 | ▲ 29.0% |
| Taxes450/3 | €922 | €10,819 | - | €2,069 | €4,608 | ▲ 123% |
| Remuneration and social security454/9 | €0 | €7,142 | €2,265 | €7,950 | €8,317 | ▲ 4.6% |
| Other amounts payable47/48 | €1,677 | €19,366 | €296 | - | €13,793 | - |
| Accrued charges and deferred income492/3 | €5,578 | €18,426 | €7,708 | €1,862 | €223 | ▼ 88.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,016 | -€935 | -€13,604 | €992 | €17,507 | ▲ 1,665% |
| + Depreciation and write-downs630 | €14,983 | €19,451 | €20,254 | €24,554 | €13,519 | ▼ 44.9% |
| Operating cash flow (approximation) | €32,999 | €18,516 | €6,650 | €25,546 | €31,026 | ▲ 21.5% |
| Investment in fixed assets (approximation) | - | -€17,569 | -€27,182 | -€3,085 | -€23,467 | ▼ 661% |
| Change in cash | - | -€5,875 | - | - | €5,856 | - |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
23-03
State Gazette act
Registered officeRegistered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Registered-office move · Power of attorney3 facts ▸
- Board meeting, 31/01/2026
- Registered-office move, Rue du Pot-d'Or 60 - 4000 Liège
- Power of attorney, Xerius Contact ASBL
2025
24-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €992
Net result €992 after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 1.27
Current ratio from 0.62 to 1.27.
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€13,604
Net result drops to -€13,604, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
31-12
Financial
Back to profitnet €18,016
Net result €18,016 after 3 loss-making years.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2020
Ground area
151 m²
Building footprint
144 m²
Parcel 62803A1207/00L002, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Charbon Studio
since 20202.318.895.856
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62803A1207/00L002 | Wallonia | 151 m² | 1 · 144 m² | - |
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.
Public money · subsidies and aid
Wallonia-Brussels Federation
2021 · 1 entry · 7,500 EUR in total| Year | Entries | paid |
|---|---|---|
| 2021 | 1 | 7,500 EUR |
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Of 484 companies in sector 59112 we hold annual accounts for 248. 207 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
Founded21-12-2010
Fiscal year end31-12
Activities, NACEBEL 2025
59112
59120Post-production of films, video and television programmes
Contact
Website
charbon.studio
E-mail
info@charbon.studio
Website
www.charbon-studio.beLiège
E-mail
info@charbon-studio.beLiège
Phone
028080859Liège
E-invoicing
Reachable via Peppol
Peppol ID
0208:0832077282
Registered
13-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.