MUSE STUDIO
ActiveMUSE STUDIO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €612 and a net result of €417. Equity is shrinking by ~21.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 16% of 2687 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+28
Solvency29▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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
4%
Return on assets
2.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 2687 sector peers (2025).
NBB · sector comparisonPosition among 2687 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d late
2023
54 d late
2022
29 d late
2021
36 d late
2020
26 d late
2019
59 d late
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€612▲ 214%
2024 · €195
2018: €2k
2019: €4k
2020: €6k
2021: €4k
2022: €7k
2023: €2k
2024: €195
2018 → 2025
Total assets
€15k▼ 12.1%
2024 · €17k
2018: €13k
2019: €11k
2020: €12k
2021: €31k
2022: €21k
2023: €19k
2024: €17k
2018 → 2025
Net result
€417
2024 · €-2k
2018: €-7k
2019: €3k
2020: €2k
2021: €-2k
2022: €-2k
2023: €-5k
2024: €-2k
2018 → 2025
Working capital
€-3k▲ 47.7%
2024 · €-6k
2018: €-2k
2019: €1k
2020: €2k
2021: €8k
2022: €181
2023: €-4k
2024: €-6k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4k-€7k▲ 106%€2k▼ 72.6%€195▼ 90.1%€612▲ 214%
Operating result€-2k-€-2k▼ 4.6%€-5k▼ 122%€-2k▲ 67.8%€465
Net result€-2k-€-2k▼ 0.4%€-5k▼ 113%€-2k▲ 66.0%€417
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €465 after a loss of €2k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15k
Fixed assets
€4k▼ 39.4%
Current assets
€12k▲ 3.0%
Equity and liabilities €15k
Equity
€612▲ 214%
Debt
€15k▼ 14.7%
The debt ratio falls from 98.9% to 96.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3k▲
2024 · €761
Cash flow
€3k▲
2024 · €595
Solvency
4.0%▲
2024 · 1.1%
Current ratio
0.79▲
2024 · 0.65
Quick ratio
0.79▲
2024 · 0.65
ROA
2.7%▲
2024 · -10.3%
Interest coverage
60.52▲
2024 · 4.58
Debt
€15k▼
2024 · €17k
Debt ≤ 1 year
€15k▼
2024 · €17k
Equity ratios withheld: equity of €612 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€17k€15k▼
Fixed assets21/28€6k€4k▼
Tangible fixed assets22/27€3k€968▼
Furniture and vehicles24€3k€968▼
Financial fixed assets28€3k€3k=
Current assets29/58€11k€12k▲
Amounts receivable within one year40/41€10k€10k▼
Trade receivables40€10k€10k▼
Cash at bank and in hand54/58€940€1k▲
Equity and liabilities
Total equity and liabilities10/49€17k€15k▼
Equity10/15€195€612▲
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-20k€-20k▲
Amounts payable17/49€17k€15k▼
Amounts payable within one year42/48€17k€15k▼
Current portion of amounts payable after more than one year42€2k€1k▼
Trade debts44€2€146▲
Suppliers440/4€2€146▲
Taxes, remuneration and social security45€2k-
Taxes450/3€2k-
Other amounts payable47/48€13k€13k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€384-
Gross operating margin9900€1k€3k▲
Operating profit (loss)9901€-2k€465▲
Financial charges65/66B€166€48▼
Recurring financial charges65€166€48▼
Profit (loss) for the period before taxes9903€-2k€417▲
Profit (loss) for the period9904€-2k€417▲
Profit (loss) for the period to be appropriated9905€-2k€417▲
Appropriation of the result
Profit (loss) to be appropriated9906€-20k€-20k▲
Profit (loss) brought forward from the previous period14P€-18k€-20k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Back to profitnet €417
Net result €417 after 4 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 54 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
05-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 36 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Vorst · 2 establishment units since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Halvemaanstraat 1911190 VorstGround area
1,830 m²
Building footprint
2,579 m²
Volume, LiDAR
63,143 m³
2 parcels, Brussels · tallest building 35.6 m, ±9 floors. Linked by address, not a title deed.
2 establishment units
MUSE STUDIO
since 20122.211.068.577
SLIMness
since 20132.221.432.137
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0007/00R000 | Brussels | 1,683 m² | 1 · 2,433 m² | 35.6 m · 9 fl. |
| 21007A0034/00K002 | Brussels | 146 m² | 1 · 146 m² | 18.4 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
MentIT
BE 0747.863.268
Oudsbergen · Eq €615
M2L SOLUTIONS
BE 0757.664.624
Kortenberg · Eq €599
NieNu
BE 1017.186.936
Aarschot · Eq €628
AUTOMOTIVE INFORMATION TECHNOLOGY
BE 0678.942.293
Ath · Eq €596
DOMATICA
BE 0473.205.590
Leuven · Eq €592
Of 16,887 companies in sector 62100 we hold annual accounts for 8,777. 701 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded18-07-2012
Fiscal year end31-12
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
62020IT consultancy
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
74103Other professional, scientific and technical activities
74109Other professional, scientific and technical activities
74120Graphic design and visual communication
74140Other specialised design activities
96040Personal service activities
96230Day spas, saunas and steam baths
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.