Equity
€60,163 from €113,615 in 2010
Equity fell by 47% in 15 years.
LETTER - STYLING
Lifetime
20 annual accounts with figures on one time axis, 33 filings since 1993peak €34,837 (2006)
€10,400▼ 2.7%
lowest -€11,302 (2022)
-€6,624▼ €987
peak €113,615 (2010)
€60,163▼ 9.9%
€50,135▼ 18.4%
Board2 names since 2021
2 directorsBRUINSMA Onno and 1 other
Documentsfilings and deeds
11-08-202611 days late
2025micro format
Loss of €6,624Debts from €61,416 to €50,135
Key points
from the 2025 annual accountsLosses
-€12,261 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Position in the sector
-€6,624
Lower net result than 83% of companies in advertising and market research. Sector median €14,755 · 8,616 companies.
2025 accounts filed 11 days after the deadline
Checked score
93
Excellent
Financially stronger than 47% of micro companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.1%▼ -0.1 percentage points vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Loss of €6,624, the second in a row (financial year 2025)
lowers risk
Liquidity: current ratio 1.49, cash €51,736
Founded in 1992
Size: total assets €110,297
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 53% of them on solvency, 72% on liquidity, 33% on profitability and 31% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 12,322 companies had the same profile as LETTER - STYLING has now. Each dot stands for 31 companies, two years later.
90.3%
were still trading
8.6%
stopped another way
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LETTER - STYLING itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 12,322 companies, not a prediction for LETTER - STYLING. 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.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.49 (1.27 in 2024), below the usual 1.5. Short-term debt is 42.7% and cash 46.9% of total assets. 45.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 -€6,624
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: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
11 days late
2024
on the day
2023
on the day
2022
on the day
2021
38 days early
2020
31 days early
2019
31 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0447734281
Changes of role: LEMMENS Martine (director) and BRUINSMA Onno (director)
Director discharge: LEMMENS Martine · Director discharge: BRUINSMA Onno · General meeting of 12-10-2023 · Gazette deed
First establishment
LETTER-STYLING BVBA, Burggravenlaan 273, Ghent
Incorporation
published on 16-07-1992 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| LETTER - STYLING Ghent | €110,297 | €10,400 | 54.5% | - |
| STUDIOS CAMELEON Linkebeek | €114,013 | €10,976 | -27.1% | - |
| PHOTON Sint-Pieters-Leeuw | €102,124 | €11,204 | 22.8% | - |
| DIXIT Orp-Jauche | €103,559 | €11,754 | 90.0% | - |
| PRODUCT'S DESIGN Forest | €104,918 | €11,390 | 22.8% | - |
| ADVERTISING CONSULT Schaerbeek | €101,293 | €12,694 | 99.2% | - |
| GOED VOOR DRUK Antwerp | €122,545 | €13,935 | 92.0% | - |
These companies have the same main activity as LETTER - STYLING: advertising agencies (NACE 73110). They are comparable in size and age: total assets between €101,000 and €123,000, founded between 1987 and 1991.
Official details
Source: KBO- Status
- Active since 07-07-1992Normal situation
- Activity
- Advertising agenciesNACE 73110
- Establishment unit
- 2.058.219.7399000 Ghent, since 13-07-1992
- Financial year end
- 31 December
- Peppol
- Reachable since 28-08-2025
Insights on LETTER - STYLING
LETTER - STYLING files the micro format. That format states no turnover. The gross margin fell from €34,837 in 2006 to €10,400 in 2025.
The balance sheet grew most in 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about LETTER - STYLING
- What is the company number of LETTER - STYLING?
- The company number of LETTER - STYLING is 0447.734.281. The VAT number is the same number with BE in front: BE 0447.734.281.
- Where is LETTER - STYLING based?
- The registered office is at Burggravenlaan 273, 9000 Ghent.Company details
- What does LETTER - STYLING do?
- According to the KBO register, the main activity is advertising agencies (NACE 73110).
- What is the legal form of LETTER - STYLING?
- LETTER - STYLING is a private limited company (BV).
- When was LETTER - STYLING founded?
- LETTER - STYLING was founded on 07-07-1992.
- Is LETTER - STYLING still active?
- Yes, LETTER - STYLING is an active enterprise in the KBO register.
- What is the turnover of LETTER - STYLING?
- The turnover in financial year 2025 is ≈ €59,000. This figure is estimated from the gross margin of €10,400 and 41 comparable companies (NACE 73110). It probably lies between €31,000 and €110,000. It is a rough estimate.Financials
- Is LETTER - STYLING profitable?
- In financial year 2025, LETTER - STYLING made a loss of €6,624.
- Where can I find the annual accounts of LETTER - STYLING?
- LETTER - STYLING filed 33 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of LETTER - STYLING due?
- LETTER - STYLING must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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