KEURDESK
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation on 01-01-2026.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 24-06-2026, 37 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
37 d early
2024
28 d early
2023
96 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 54 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
What became of the directors' other companies?Supplier due diligence Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?STUDIBO HOLDING · 24 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€288,890▲ 667%
2024 · €37,686
Total assets
€537,029▲ 285%
2024 · €139,516
Net result
€122,492▲ 138%
2024 · €51,373
Working capital
€226,542▲ 15,646%
2024 · €1,439
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€61,866-€69,285▲ 12.0%€154,001▲ 122%
Net result€45,163-€51,373▲ 13.8%€122,492▲ 138%
Equity€45,313-€37,686▼ 16.8%€288,890▲ 667%
Total assets€92,677-€139,516▲ 50.5%€537,029▲ 285%
Debt€47,365-€101,831▲ 115%€248,140▲ 144%
Working capital€45,313-€1,439▼ 96.8%€226,542▲ 15,646%
Staff (FTE)0-0.31.8▲ 500%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 122% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €537,029
Fixed assets
€62,348 ▲ 71.8%
Current assets
€474,681 ▲ 360%
Equity and liabilities €537,029
Equity
€288,890 ▲ 667%
Debt
€248,140 ▲ 144%
Debt's share of the balance-sheet total falls from 73.0% to 46.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€167,215▲
2024 · €70,558
Cash flow
€135,707▲
2024 · €52,646
Current ratio
1.91▲
2024 · 1.01
Debt to equity
0.86▼
2024 · 2.70
ROE
42.4%▼
2024 · 136.3%
ROA
22.8%▼
2024 · 36.8%
Interest coverage
142.09▼
2024 · 153.40
Debt ≤ 1 year
€248,140▲
2024 · €101,790
Income taxes
€36,093▲
2024 · €17,452
Staff costs
€83,956▲
2024 · €9,383
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €9,383 | €83,956 | ▲ 795% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,273 | €13,214 | ▲ 938% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €601 | -€601 | ▼ 200% |
| Other operating charges640/8 | €500 | €742 | €929 | ▲ 25.3% |
| Gross operating margin9900 | €62,366 | €81,284 | €251,499 | ▲ 209% |
| Operating profit (loss)9901 | €61,866 | €69,285 | €154,001 | ▲ 122% |
| Financial income75/76B | - | €0 | €5,761 | ▲ 19,204,067% |
| Recurring financial income75 | - | €0 | €5,761 | ▲ 19,204,067% |
| Financial charges65/66B | €97 | €460 | €1,177 | ▲ 156% |
| Recurring financial charges65 | €97 | €460 | €1,177 | ▲ 156% |
| Profit (loss) for the period before taxes9903 | €61,769 | €68,825 | €158,585 | ▲ 130% |
| Income taxes67/77 | €16,606 | €17,452 | €36,093 | ▲ 107% |
| Profit (loss) for the period9904 | €45,163 | €51,373 | €122,492 | ▲ 138% |
| Profit (loss) for the period to be appropriated9905 | €45,163 | €51,373 | €122,492 | ▲ 138% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €92,677 | €139,516 | €537,029 | ▲ 285% |
| Fixed assets21/28 | - | €36,288 | €62,348 | ▲ 71.8% |
| Tangible fixed assets22/27 | - | €36,288 | €62,048 | ▲ 71.0% |
| Plant, machinery and equipment23 | - | - | €1,185 | - |
| Furniture and vehicles24 | - | €36,288 | €60,863 | ▲ 67.7% |
| Financial fixed assets28 | - | - | €300 | - |
| Current assets29/58 | €92,677 | €103,229 | €474,681 | ▲ 360% |
| Amounts receivable within one year40/41 | €31,920 | €14,017 | €309,523 | ▲ 2,108% |
| Trade receivables40 | €31,920 | €14,009 | €87,775 | ▲ 527% |
| Other amounts receivable41 | - | €9 | €221,748 | ▲ 2,534,157% |
| Cash at bank and in hand54/58 | €59,840 | €87,545 | €159,573 | ▲ 82.3% |
| Deferred charges and accrued income490/1 | €918 | €1,666 | €5,586 | ▲ 235% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €92,677 | €139,516 | €537,029 | ▲ 285% |
| Equity10/15 | €45,313 | €37,686 | €288,890 | ▲ 667% |
| Contributions10/11 | €150 | €150 | €1,150 | ▲ 667% |
| Reserves13 | €45,163 | €37,536 | €287,740 | ▲ 667% |
| Distributable reserves133 | €45,163 | €37,536 | €287,740 | ▲ 667% |
| Profit (loss) carried forward14 | - | €0 | €0 | - |
| Amounts payable17/49 | €47,365 | €101,831 | €248,140 | ▲ 144% |
| Amounts payable within one year42/48 | €47,365 | €101,790 | €248,140 | ▲ 144% |
| Trade debts44 | €8,661 | €16,524 | €51,832 | ▲ 214% |
| Suppliers440/4 | €8,661 | €16,524 | €51,832 | ▲ 214% |
| Taxes, remuneration and social security45 | €20,102 | €21,462 | €75,381 | ▲ 251% |
| Taxes450/3 | €20,102 | €18,462 | €66,546 | ▲ 260% |
| Remuneration and social security454/9 | - | €3,000 | €8,836 | ▲ 195% |
| Other amounts payable47/48 | €18,602 | €63,804 | €120,926 | ▲ 89.5% |
| Accrued charges and deferred income492/3 | - | €41 | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,163 | €51,373 | €122,492 | ▲ 138% |
| + Depreciation and write-downs630 | - | €1,273 | €13,214 | ▲ 938% |
| Operating cash flow (approximation) | €45,163 | €52,646 | €135,707 | ▲ 158% |
| Investment in fixed assets (approximation) | - | - | -€39,274 | - |
| Change in cash | - | €27,706 | €72,027 | ▲ 160% |
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
24-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
23-01
State Gazette act
RestructuringResignations: STUDIBO BELGIUM, LILLE PROJECTS and HANNECART · Permanent representatives: VERHAEGHE Karel, DE LILLE Glen and VANDEPUTTE Vincent · Merger11 facts ▸
State Gazette act
Restructuring
Resignations: STUDIBO BELGIUM, LILLE PROJECTS and HANNECART · Permanent representatives: VERHAEGHE Karel, DE LILLE Glen and VANDEPUTTE Vincent · Merger11 facts ▸
- General meeting, 29-12-2025
- Merger, absorption, 01-01-2026
- Accounting effect, 01-01-2026
- Dissolution, 01-01-2026
- Director resignation, STUDIBO BELGIUM (director)
- Permanent representative, VERHAEGHE Karel
- Director resignation, LILLE PROJECTS (director)
- Permanent representative, DE LILLE Glen
- Director resignation, HANNECART (director)
- Permanent representative, VANDEPUTTE Vincent
- Power of attorney, AXXI
2025
31-12
Financial
Highest result since 2023net €122,492 ▲138%
Operating result €154,001, net result €122,492, both a record.
31-12
Financial
Equity above €200,000Eq €288,890 ▲667%
3 profitable years in a row build equity to €288,890.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Mandate history
3 people since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Hannecart |
|
| LILLE PROJECTS |
|
| Studibo Belgium |
|
Structure & network
Part of the group
STUDIBO HOLDING
24 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- STUDIBO HOLDING
- Studibo Belgium
- KEURDESK
Highest known parent: STUDIBO HOLDING. The sources do not say who stands above it.
Owners 1
- Studibo Belgiumparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Acquisitions and mergers
1 transactionTaken over by:REALED
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,319 EUR awarded · 1,076 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,319 EUR | 1,076 EUR |