ILA studio
ActiveFinancials · financial year 2024, abbreviated 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 30-06-2025 PDF all 15 filings
Turnover
€3.5m▼ 8.2%
2023 · €3.8m
EBIT margin
-3.4%▼ 0.6pp
2023 · -2.7%
Net result
-€137,470▼ 19.0%
2023 · -€115,477
Working capital
€209,397▼ 30.0%
2023 · €298,938
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
€3.5m
▼ 8.2%
2024
20182024
Operating result
-€117,760
▼ 13.1%
2024
20182024
Net result
-€137,470
▼ 19.0%
2024
lowest quarter of the sector
20182024
EBIT margin
-3.4%
▼ 0.6pp
2024
20182024
Equity
€37,024
▼ 78.8%
2024
lowest quarter of the sector
20182024
Total assets
€718,056
▼ 19.6%
2024
middle half of the sector
20182024
Debt
€681,032
▼ 5.2%
2024
20182024
Working capital
€209,397
▼ 30.0%
2024
middle half of the sector
20182024
Solvency
5.2%
▼ 14.4pp
2024
lowest quarter of the sector
20182024
Current ratio
1.50
▼ 0.13
2024
middle half of the sector
20182024
Return on assets (ROA)
-19.1%
▼ 6.2pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
7.4
▼ 18.7%
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
Turnover€3.1m-€3.1m€4.5m▲ 46.8%€3.9m▼ 13.4%€3.8m▼ 2.6%€3.5m▼ 8.2%
Operating result€0.08m-€0.2m▲ 117%€0.1m▼ 31.5%€0.3m▲ 106%-€0.02m-€0.1m▼ 534%-€0.1m▼ 13.1%
Net result€0.07m-€0.1m▲ 82.3%€0.06mwithin the sector's middle half▼ 54.6%€0.2mabove the sector's middle half▲ 179%€0.008mwithin the sector's middle half▼ 95.3%-€0.1mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 19.0%
EBIT margin2.7%-4.0%5.6%▲ 1.6pp-0.4%▼ 6.0pp-2.7%▼ 2.3pp-3.4%▼ 0.6pp
Equity€0.06m-€0.2m▲ 219%€0.2mwithin the sector's middle half▲ 5.9%€0.3mwithin the sector's middle half▲ 34.3%€0.3mwithin the sector's middle half▲ 2.9%€0.2mwithin the sector's middle half▼ 39.8%€0.04mbelow the sector's middle half▼ 78.8%
Total assets€0.7m-€1.0m▲ 50.0%€1.2mwithin the sector's middle half▲ 18.0%€1.2mwithin the sector's middle half▼ 0.1%€1.1mwithin the sector's middle half▼ 10.6%€0.9mwithin the sector's middle half▼ 16.6%€0.7mwithin the sector's middle half▼ 19.6%
Debt€0.6m-€0.8m▲ 32.9%€1.0m▲ 20.9%€0.9m▼ 7.4%€0.8m▼ 14.8%€0.7m▼ 8.0%€0.7m▼ 5.2%
Working capital€0.007m-€0.2m▲ 22×€0.4mabove the sector's middle half▲ 134%€0.3mwithin the sector's middle half▼ 8.8%€0.6mabove the sector's middle half▲ 87.2%€0.3mwithin the sector's middle half▼ 51.6%€0.2mwithin the sector's middle half▼ 30.0%
Solvency9.2%-19.5%▲ 10.3pp17.5%within the sector's middle half▼ 2.0pp23.5%within the sector's middle half▲ 6.0pp27.1%within the sector's middle half▲ 3.5pp19.5%within the sector's middle half▼ 7.5pp5.2%below the sector's middle half▼ 14.4pp
Current ratio1.01-1.19▲ 0.181.46within the sector's middle half▲ 0.271.40within the sector's middle half▼ 0.052.71within the sector's middle half▲ 1.311.63within the sector's middle half▼ 1.081.50within the sector's middle half▼ 0.13
Return on assets (ROA)11.0%-13.4%▲ 2.4pp5.1%within the sector's middle half▼ 8.2pp14.4%above the sector's middle half▲ 9.2pp0.8%within the sector's middle half▼ 13.6pp-12.9%below the sector's middle half▼ 13.7pp-19.1%below the sector's middle half▼ 6.2pp
Staff (FTE)7.1-7.5▲ 5.6%7.1within the sector's middle half▼ 5.3%7.9within the sector's middle half▲ 11.3%8.2within the sector's middle half▲ 3.8%9.1within the sector's middle half▲ 11.0%7.4within the sector's middle half▼ 18.7%
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 a loss of €117,760, larger than the loss of €104,137 in 2023. It is the lowest result since 2020.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €718,056
Fixed assets
€86,956 ▼ 26.5%
Current assets
€631,100 ▼ 18.5%
Equity and liabilities €718,056
Equity
€37,024 ▼ 78.8%
Debt
€681,032 ▼ 5.2%
Debt's share of the balance-sheet total rises from 80.5% to 94.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€80,901▼
2023 · -€73,668
Cash flow
-€100,611▼
2023 · -€85,008
Debt to equity
18.39▲
2023 · 4.12
ROE
-371.3%▼
2023 · -66.2%
Interest coverage
-4.83▲
2023 · -7.70
Debt ≤ 1 year
€421,704▼
2023 · €475,341
Income taxes
€3,616▲
2023 · €2,603
Customer credit
26 days▼
2023 · 56 days
Supplier credit
24 days▲
2023 · 11 days
Staff costs
€379,412▼
2023 · €456,055
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 8 | 6 | 6 |
| full-time | 8 | 4 | 5 |
| part-time | 0 | 2 | 1 |
| in full-time equivalents | 8 | 5.7 | 5.8 |
| Average over the year, in full-time equivalents | 9.1 | 7.4 | 7 |
| On a permanent contract | 8 | 5 | 6 |
| Joined | 9 | 5 | 7 |
| Left | 11 | 7 | 7 |
| Training hours | 3,740 | 3,177 | 3,150 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10,977 | €18,561 | €102,864 | €36,452 | €5,447 |
| Intangible fixed assets | - | - | €55,848 | €20,170 | - |
| Financial fixed assets | - | €3,316 | - | - | - |
| Depreciation and write-downs of the year | €15,602 | €17,442 | €17,767 | €30,469 | €36,859 |
Source: notes to the 2020 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €4,350 awarded · €4,350 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €3,750 | €3,750 |
| 2023 | 1 | €600 | €600 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €3.1m | - | €3.1m | €4.5m | €3.9m | €3.8m | €3.5m | ▼ 8.2% |
| Non-recurring operating income76A | - | - | - | - | - | - | €0.02m | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €2.7m | €3.8m | €3.4m | €3.4m | €3.2m | ▼ 6.1% |
| Remuneration, social security and pensions62 | - | - | €0.2m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 21.0% |
| Other operating charges640/8 | - | - | €0.004m | €0.009m | €0.003m | €0.003m | €0.001m | ▼ 64.0% |
| Non-recurring operating charges66A | - | - | - | €380 | - | - | - | - |
| Gross operating margin9900 | €0.5m | €0.6m | €0.4m | €0.8m | €0.5m | €0.4m | €0.3m | ▼ 22.2% |
| Operating profit (loss)9901 | €0.08m | €0.2m | €0.1m | €0.3m | -€0.02m | -€0.1m | -€0.1m | ▼ 13.1% |
| Financial income75/76B | - | - | €36 | €0.003m | €0.05m | €0.001m | €0.001m | ▼ 22.1% |
| Recurring financial income75 | €0.01m | €0.001m | €36 | €0.003m | €0.05m | €0.001m | €0.001m | ▼ 22.1% |
| Financial charges65/66B | - | - | €0.004m | €0.004m | €0.01m | €0.01m | €0.02m | ▲ 75.0% |
| Recurring financial charges65 | €0.003m | €0.004m | €0.004m | €0.004m | €0.01m | €0.01m | €0.02m | ▲ 75.0% |
| Profit (loss) for the period before taxes9903 | €0.09m | €0.2m | €0.1m | €0.3m | €0.02m | -€0.1m | -€0.1m | ▼ 18.6% |
| Income taxes67/77 | €0.02m | €0.04m | €0.06m | €0.08m | €0.01m | €0.003m | €0.004m | ▲ 38.9% |
| Profit (loss) for the period9904 | €0.07m | €0.1m | €0.06m | €0.2m | €0.008m | -€0.1m | -€0.1m | ▼ 19.0% |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.1m | €0.06m | €0.2m | €0.008m | -€0.1m | -€0.1m | ▼ 19.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.7m | €1.0m | €1.2m | €1.2m | €1.1m | €0.9m | €0.7m | ▼ 19.6% |
| Formation expenses20 | - | - | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €0.06m | €0.05m | €0.04m | €0.05m | €0.09m | €0.1m | €0.09m | ▼ 26.5% |
| Intangible fixed assets21 | - | - | - | - | €0.06m | €0.06m | €0.04m | ▼ 32.8% |
| Tangible fixed assets22/27 | €0.05m | €0.04m | €0.04m | €0.04m | €0.03m | €0.05m | €0.04m | ▼ 24.8% |
| Plant, machinery and equipment23 | - | - | €0.006m | €0.002m | €0.02m | €0.04m | €0.03m | ▼ 20.2% |
| Furniture and vehicles24 | - | - | €0.03m | €0.04m | €0.006m | €0.003m | €0.001m | ▼ 71.9% |
| Other tangible fixed assets26 | - | - | - | - | - | €0.009m | €0.006m | ▼ 27.9% |
| Financial fixed assets28 | €0.008m | €0.008m | €0.008m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.6m | €1.0m | €1.2m | €1.1m | €1.0m | €0.8m | €0.6m | ▼ 18.5% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.7m | €0.8m | €0.8m | €0.6m | €0.3m | ▼ 50.3% |
| Trade receivables40 | - | - | €0.7m | €0.7m | €0.8m | €0.6m | €0.2m | ▼ 57.3% |
| Other amounts receivable41 | - | - | €0.009m | €0.08m | €0.04m | €0.03m | €0.06m | ▲ 80.2% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.4m | €0.3m | €0.1m | €0.1m | €0.2m | ▲ 9.7% |
| Deferred charges and accrued income490/1 | - | - | €0.07m | €0.07m | €0.004m | €0.02m | €0.2m | ▲ 802% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.7m | €1.0m | €1.2m | €1.2m | €1.1m | €0.9m | €0.7m | ▼ 19.6% |
| Equity10/15 | €0.06m | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | €0.04m | ▼ 78.8% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0.002m | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.04m | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | €0.02m | ▼ 89.2% |
| Amounts payable17/49 | €0.6m | €0.8m | €1.0m | €0.9m | €0.8m | €0.7m | €0.7m | ▼ 5.2% |
| Amounts payable after more than one year17 | €0.002m | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.6m | €0.8m | €0.8m | €0.8m | €0.4m | €0.5m | €0.4m | ▼ 11.3% |
| Trade debts44 | €0.4m | €0.7m | €0.6m | €0.6m | €0.2m | €0.1m | €0.2m | ▲ 99.8% |
| Suppliers440/4 | - | - | €0.6m | €0.6m | €0.2m | €0.1m | €0.2m | ▲ 99.8% |
| Taxes, remuneration and social security45 | - | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.04m | ▼ 53.5% |
| Taxes450/3 | - | - | €0.008m | €0.03m | €0.05m | €0.03m | €0.009m | ▼ 68.1% |
| Remuneration and social security454/9 | - | - | €0.07m | €0.1m | €0.08m | €0.07m | €0.03m | ▼ 46.9% |
| Other amounts payable47/48 | - | - | €0.1m | €0.1m | €0.01m | €0.3m | €0.2m | ▼ 39.2% |
| Accrued charges and deferred income492/3 | - | - | €0.2m | €0.1m | €0.4m | €0.2m | €0.3m | ▲ 6.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,652 | €136,098 | €61,736 | €172,053 | €8,038 | -€115,477 | -€137,470 | ▼ 19.0% |
| + Depreciation and write-downs630 | €19,712 | €22,371 | €15,602 | €17,442 | €17,767 | €30,469 | €36,859 | ▲ 21.0% |
| Operating cash flow (approximation) | €94,364 | €158,469 | €77,338 | €189,495 | €25,805 | -€85,008 | -€100,611 | ▼ 18.4% |
| Investment in fixed assets (approximation) | - | -€14,402 | -€10,977 | -€21,877 | -€60,721 | -€56,621 | -€5,447 | ▲ 90.4% |
| Change in cash | - | €58,100 | €88,541 | -€94,632 | -€120,833 | -€5,816 | €13,459 | - |
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, 642 companies had the same profile as ILA studio has now. Two years later, 89.7% were still going and 3.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
89.7%
was still going
5.5%
stopped otherwise
3.6%
went bankrupt
Another 1.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ILA studio itself: 2.3% within 12 months.
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 642 companies, not a prediction for ILA 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00226626 | |
| 31-12-2023 | abbreviated format | 09-07-2024 | 2024-00231818 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00225565 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20126304 | |
| 31-12-2020 | abbreviated format | 01-07-2021 | 2021-29500531 | |
| 31-12-2019 | abbreviated format | 10-08-2020 | 2020-40100536 | |
| 31-12-2018 | abbreviated format | 24-09-2019 | 2019-65800541 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-25900321 | |
| 31-03-2016 | abbreviated format | 30-09-2016 | 2016-63400304 | |
| 31-03-2015 | abbreviated format | 30-09-2015 | 2015-62300272 |