LETTER - STYLING
ActiveSummary
LETTER - STYLING has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €-7k. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 50% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▼-2
Solvency80▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.27 in 2024; short-term debt: 42.7% and cash: 46.9% of total assets), and 45.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
54.5%
Return on assets
-6%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-7k
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
11 d late
2024
on the day
2023
on the day
2022
on the day
2021
38 d early
2020
31 d early
2019
31 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€60k▼ 9.9%
2024 · €67k
Total assets
€110k▼ 14.0%
2024 · €128k
Net result
€-7k▼ 17.5%
2024 · €-6k
Working capital
€23k▲ 42.0%
2024 · €16k
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
Line20212022202320242025
Operating result€8k€-10k€6k€-5k€-6k▼ 20.6%
Net result€5k€-11k€4k€-6k€-7k▼ 17.5%
Equity€80k▲ 6.5%€69k▼ 14.2%€72k▲ 5.6%€67k▼ 7.8%€60k▼ 9.9%
Total assets€102k▲ 15.4%€93k▼ 8.5%€150k▲ 60.7%€128k▼ 14.6%€110k▼ 14.0%
Debt€22k▲ 64.6%€25k▲ 11.9%€78k▲ 213%€61k▼ 20.9%€50k▼ 18.4%
Working capital€56k▲ 11.7%€49k▼ 13.5%€11k▼ 77.3%€16k▲ 48.0%€23k▲ 42.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6k in 2025 against €5k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110k
Fixed assets
€40k ▼ 22.8%
Current assets
€70k ▼ 8.0%
Equity and liabilities €110k
Equity
€60k ▼ 9.9%
Debt
€50k ▼ 18.4%
Debt's share of the balance-sheet total falls from 47.9% to 45.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€8k▼
2024 · €9k
Cash flow
€7k▼
2024 · €8k
Current ratio
1.49▲
2024 · 1.27
Quick ratio
1.43▲
2024 · 1.22
Debt to equity
0.83▼
2024 · 0.92
ROE
-11.0%▼
2024 · -8.4%
ROA
-6.0%▼
2024 · -4.4%
Interest coverage
8.84▼
2024 · 11.64
Debt ≤ 1 year
€47k▼
2024 · €60k
Income taxes
€441▲
2024 · €438
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | €5k | - | €21 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €4k | €9k | €13k | €13k | ▼ 0.7% |
| Other operating charges640/8 | €2k | €2k | €2k | €2k | €3k | ▲ 38.8% |
| Gross operating margin9900 | €15k | €-4k | €17k | €11k | €10k | ▼ 2.7% |
| Operating profit (loss)9901 | €8k | €-10k | €6k | €-5k | €-6k | ▼ 20.6% |
| Financial income75/76B | - | €142 | €136 | €151 | €236 | ▲ 56.0% |
| Recurring financial income75 | - | €142 | €136 | €151 | €236 | ▲ 56.0% |
| Financial charges65/66B | €821 | €717 | €929 | €755 | €878 | ▲ 16.3% |
| Recurring financial charges65 | €821 | €717 | €929 | €755 | €876 | ▲ 16.1% |
| Non-recurring financial charges66B | - | - | - | - | €1 | - |
| Profit (loss) for the period before taxes9903 | €8k | €-11k | €5k | €-5k | €-6k | ▼ 18.9% |
| Income taxes67/77 | €3k | €451 | €840 | €438 | €441 | ▲ 0.7% |
| Profit (loss) for the period9904 | €5k | €-11k | €4k | €-6k | €-7k | ▼ 17.5% |
| Transfer from tax-exempt reserves789 | €7k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €12k | €-11k | €4k | €-6k | €-7k | ▼ 17.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €102k | €93k | €150k | €128k | €110k | ▼ 14.0% |
| Fixed assets21/28 | €25k | €23k | €64k | €52k | €40k | ▼ 22.8% |
| Intangible fixed assets21 | - | €639 | €491 | €343 | €195 | ▼ 43.1% |
| Tangible fixed assets22/27 | €25k | €22k | €63k | €51k | €40k | ▼ 22.6% |
| Land and buildings22 | €22k | €20k | €17k | €15k | €14k | ▼ 6.7% |
| Furniture and vehicles24 | €3k | €3k | €46k | €37k | €26k | ▼ 29.0% |
| Financial fixed assets28 | €9 | €9 | €1 | €1 | - | - |
| Current assets29/58 | €77k | €70k | €86k | €76k | €70k | ▼ 8.0% |
| Stocks and contracts in progress3 | €246 | €3k | €2k | €3k | €3k | ▼ 8.0% |
| Stocks30/36 | €246 | €3k | €2k | €3k | €3k | ▼ 8.0% |
| Amounts receivable within one year40/41 | €12k | €9k | €6k | €9k | €14k | ▲ 50.7% |
| Trade receivables40 | €11k | €5k | €3k | €6k | €11k | ▲ 81.7% |
| Other amounts receivable41 | €1k | €4k | €3k | €4k | €4k | ▼ 0.1% |
| Cash at bank and in hand54/58 | €64k | €57k | €76k | €62k | €52k | ▼ 17.2% |
| Deferred charges and accrued income490/1 | €845 | €1k | €1k | €1k | €2k | ▲ 8.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €102k | €93k | €150k | €128k | €110k | ▼ 14.0% |
| Equity10/15 | €80k | €69k | €72k | €67k | €60k | ▼ 9.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €36k | €36k | €40k | €40k | €40k | = |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €34k | €34k | €40k | €40k | €40k | = |
| Profit (loss) carried forward14 | €25k | €14k | €14k | €9k | €2k | ▼ 77.4% |
| Amounts payable17/49 | €22k | €25k | €78k | €61k | €50k | ▼ 18.4% |
| Amounts payable within one year42/48 | €21k | €22k | €75k | €60k | €47k | ▼ 21.6% |
| Trade debts44 | €107 | €4k | €5k | €1k | €4k | ▲ 205% |
| Suppliers440/4 | €107 | €4k | €5k | €1k | €4k | ▲ 205% |
| Taxes, remuneration and social security45 | €10k | €6k | €10k | €6k | €4k | ▼ 28.5% |
| Taxes450/3 | €10k | €6k | €10k | €6k | €4k | ▼ 28.5% |
| Other amounts payable47/48 | €11k | €12k | €61k | €53k | €39k | ▼ 26.6% |
| Accrued charges and deferred income492/3 | €1k | €3k | €3k | €1k | €3k | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €-11k | €4k | €-6k | €-7k | ▼ 17.5% |
| + Depreciation and write-downs630 | €4k | €4k | €9k | €13k | €13k | ▼ 0.7% |
| Operating cash flow (approximation) | €9k | €-7k | €13k | €8k | €7k | ▼ 13.9% |
| Investment in fixed assets (approximation) | - | €-2k | €-50k | €-1k | €-1k | ▼ 17.8% |
| Change in cash | - | €-6k | €19k | €-14k | €-11k | ▲ 21.4% |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 11 days late
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €5k
Net result €5k after 2 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1992
Ground area
119 m²
Building footprint
61 m²
Volume, LiDAR
573 m³
Parcel 44808H0164/00N004, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
LETTER-STYLING BVBA
since 19922.058.219.739
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0164/00N004 | Flanders | 119 m² | 1 · 61 m² | 14.2 m · 4 fl. |
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.
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,752. 3,020 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
Founded07-07-1992
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.