HARDWORK STUDIO
ActiveSummary
HARDWORK STUDIO has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€3,197) and a net result of -€710. Equity is shrinking by about 45% per year across the filed financial years. Its solvency ranks better than 5% of 21,007 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, micro format
2022 to 2025, 4 financial years
The operating result stays negative: a loss of €614 in 2025 against €1,494 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital.
Peer companies
Historical observationOf the 6,007 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83.0% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,472 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 74.5% 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 6,007 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €539 | €688 | €688 | €149 | ▼ 78.4% |
| Gross operating margin9900 | -€1,318 | €675 | -€807 | -€465 | ▲ 42.3% |
| Operating profit (loss)9901 | -€1,857 | -€13 | -€1,494 | -€614 | ▲ 58.9% |
| Financial charges65/66B | €61 | €49 | €13 | €96 | ▲ 668% |
| Recurring financial charges65 | €61 | €49 | €13 | €96 | ▲ 668% |
| Profit (loss) for the period before taxes9903 | -€1,918 | -€62 | -€1,507 | -€710 | ▲ 52.9% |
| Profit (loss) for the period9904 | -€1,918 | -€62 | -€1,507 | -€710 | ▲ 52.9% |
| Profit (loss) for the period to be appropriated9905 | -€1,918 | -€62 | -€1,507 | -€710 | ▲ 52.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2,945 | €1,801 | €540 | €468 | ▼ 13.3% |
| Fixed assets21/28 | €1,524 | €837 | €149 | - | - |
| Tangible fixed assets22/27 | €1,524 | €837 | €149 | - | - |
| Plant, machinery and equipment23 | €1,524 | €837 | €149 | - | - |
| Current assets29/58 | €1,420 | €964 | €391 | €468 | ▲ 19.7% |
| Amounts receivable within one year40/41 | - | €363 | €363 | €363 | = |
| Trade receivables40 | - | €363 | €363 | €363 | = |
| Cash at bank and in hand54/58 | €1,420 | €601 | €28 | €105 | ▲ 273% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2,945 | €1,801 | €540 | €468 | ▼ 13.3% |
| Equity10/15 | -€918 | -€980 | -€2,487 | -€3,197 | ▼ 28.6% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€1,918 | -€1,980 | -€3,487 | -€4,197 | ▼ 20.4% |
| Amounts payable17/49 | €3,863 | €2,781 | €3,027 | €3,665 | ▲ 21.1% |
| Amounts payable within one year42/48 | €3,863 | €2,781 | €3,027 | €3,665 | ▲ 21.1% |
| Taxes, remuneration and social security45 | - | €142 | - | - | - |
| Taxes450/3 | - | €142 | - | - | - |
| Other amounts payable47/48 | €3,863 | €2,640 | €3,027 | €3,665 | ▲ 21.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,918 | -€62 | -€1,507 | -€710 | ▲ 52.9% |
| + Depreciation and write-downs630 | €539 | €688 | €688 | €149 | ▼ 78.4% |
| Operating cash flow (approximation) | -€1,379 | €626 | -€819 | -€561 | ▲ 31.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - |
| Change in cash | - | -€819 | -€573 | €77 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00305709 |
| 31-12-2024 | micro format | 26-07-2025 | 2025-00331112 |
| 31-12-2023 | micro format | 13-08-2024 | 2024-00359855 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00435162 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.