Financials
- Fiscal year
- 2024
- Total assets
- €45,011
- Loss
- -€7,508
- Solvency
- -135.6%
Total assets▼ 0.2%
Net result
20212024
MEDUSA STUDIO
ActiveThe file of MEDUSA STUDIO contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is ≥ 25% (high). The 2024 annual accounts show negative equity (-€61,027) and a net result of -€7,508. Equity is shrinking by ~46.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 8964 sector peers (fiscal year 2024).
Overview
Activity
Advertising agencies
NACE 73110
1 site
Size
€45,011total assets 2024
- Equity
- -€61,027
- Loss
- -€7,508
Turnover not published (abridged schema)
Structure
Accounts 64 d overdue0 of 3 deeds read
Why 9- Reorganisation plan being carried out (approved, Gazette 24-02-2026)- Figures for FY 2024 (filed 29-08-2025)- 1 financial year not filed after the legal deadline; latest accounts 28 days late; 2 of the last 3 late- Liquidity: current ratio 0.23, cash €135, halvedShow the evidence
Checked score
Score 2024
9
/ 100
Critical
Probability in this band: over 15.0%
Better than 10% of its sector peers (NACE 73, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2023
Weak
Solvency
0=
equity -135.6% of total assets
Liquidity
0-2
short-term debt 230.0% · cash 0.3%
Profitability
0=
return on assets -16.7%
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
About 1 in 4 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 3.3%
12-2024: 3.3%● 0.0% vs 11-2024
01-2025: 3.2%▼ -1.8% vs 12-2024
02-2025: 3.2%● 0.0% vs 01-2025
03-2025: 3.1%▼ -3.2% vs 02-2025
04-2025: 3.1%● 0.0% vs 03-2025
05-2025: 2.9%▼ -5.6% vs 04-2025lowest value
06-2025: 3.0%▲ +1.5% vs 05-2025
07-2025: 3.0%▲ +0.6% vs 06-2025
08-2025: 3.9%▲ +30.9% vs 07-2025
09-2025: 3.1%▼ -21.4% vs 08-2025
10-2025: 3.1%● 0.0% vs 09-2025
03-2026: 14.6%
04-2026: 14.6%● 0.0% vs 03-2026
05-2026: 14.6%● 0.0% vs 04-2026
06-2026: 14.6%● 0.0% vs 05-2026
07-2026: 14.6%● 0.0% vs 06-2026
08-2026: 17.7%▲ +21.1% vs 07-2026
09-2026: 19.6%▲ +11.0% vs 08-2026
10-2026: ≥ 25%▲ +30.8% vs 09-2026highest value
- Reorganisation plan being carried out (approved, Gazette 24-02-2026) raises the probability
- Figures for FY 2024 (filed 29-08-2025) raises the probability
- 1 financial year not filed after the legal deadline; latest accounts 28 days late; 2 of the last 3 late raises the probability
- Liquidity: current ratio 0.23, cash €135, halved raises the probability
No credit on open account
Liquidity short (current ratio 0.23 against 0.21 in 2023; short-term debt: 230% and cash: 0.3% of total assets), and equity is negative.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 73, micro). Better than this share of them on solvency 5%, liquidity 2%, profitability 6%, growth against the median 27%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year -€61,027
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
61 d late
2022
60 d late
2021
47 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 26 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
- Plan homologationTribunal de l’entreprise du Hainaut…
- OpeningTribunal de l’entreprise du Hainaut…
- Annual accounts filedfiscal year 2024 · micro…
Key points
By topic
Timeline
- Events
- 7
- Since
- 2022
- 24-02-2026Plan homologation
- 30-10-2025Opening
- 28-08-2025Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Advertising agenciesNACE 73110
- Founded
- 19-01-2021
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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