Checked.be
Active
BE 0436.499.604Public limited company
STUDEKA
Walle(Kor) 220 ·8500 Kortrijk, Belgium· 37 yrs active
Sector: Renting and operating of own or leased residential real estate, excluding social housing
(68201)
Conclusion
STUDEKA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144k and a net result of €53k. Equity is shrinking by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 35% of 4440 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €144k |
| Net result | €53k |
| Better than sector | 35% |
| Active | 37 yrs |
Financial profile
71
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
73
Profitability
100
Solvency
50
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1989, 37 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
73
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€11k
estimate, not credit advice
Score history
60
2021
81
2022
53
2023
48
2024
73
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.78 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.78 (≥ 1.0)
+5
Leverage
Debt/equity 3.38 (> 3.0)
-10
Profitability
ROE 37% (≥ 10%)
+10
Interest coverage
Interest coverage 6.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-08-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~21.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 22.8% | 38.4% | |
| Net result | €53k | €23k | |
| Equity | €144k | €918k | |
| Gross operating margin | €146k | €157k | |
| Staff costs | €78 | €125k |
€135k
+0.2%
21-25
€53k
-6.4%
21-25
€102k
-1.2%
21-25
€631k
+11.2%
21-25
€144k
+31.3%
21-25
€81k
-
21-25
0
-
21-25
€78
-60.6%
21-25
€18k
-8.4%
21-25
€19k
0.0%
21-25
€487k
+6.4%
21-25
€104k
-25.4%
21-25
€380k
+20.2%
21-25
1.78
+94.6%
21-25
1.78
+94.6%
21-25
22.8%
+18.0%
21-25
3.38
-18.9%
21-25
37.2%
-28.7%
21-25
8.5%
-15.8%
21-25
6.84
-32.8%
21-25
Figures by fiscal year and ratios
Change versus the prior fiscal year, coloured by direction (green = favourable).
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | full schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | +0.2% | -47.8% | +68.3% | -5.9% | - |
| Net profit | -6.4% | -53.7% | +79.5% | -71.3% | - |
| Cash flow | -1.2% | -47.3% | +67.2% | -59.7% | - |
| Staff costs | -60.6% | -97.2% | - | - | - |
| Income taxes | -8.4% | -53.0% | +68.8% | -7.1% | - |
| Dividends | 0.0% | -95.2% | +2117.8% | +50.0% | - |
| Total assets | +11.2% | -3.0% | -17.3% | +3.0% | - |
| Equity | +31.3% | +52.9% | -79.4% | +17.1% | - |
| Debt | +6.4% | -10.8% | +42.5% | -7.7% | - |
| of which ≤ 1y | -25.4% | +7.2% | +0.6% | +10.3% | - |
| of which > 1y | +20.2% | -15.9% | +67.8% | -15.7% | - |
| Working capital | - | +57.9% | - | - | - |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (full schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.78 | 0.91 | 0.78 | 1.20 | 0.84 |
| Quick ratio | 1.78 | 0.91 | 0.78 | 1.20 | 0.84 |
| Working capital ratio | 12.9% | -2.1% | -4.9% | 3.6% | -2.8% |
| Solvency | 22.8% | 19.3% | 12.3% | 49.1% | 43.2% |
| Debt / equity | 3.38 | 4.17 | 7.15 | 1.04 | 0.90 |
| Long-term debt ratio | 2.64 | 2.89 | 5.24 | 0.65 | 0.90 |
| Interest coverage | 6.84 | 10.18 | 12.90 | 13.90 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 8.5% | 10.1% | 21.1% | 9.7% | 35.0% |
| ROE | 37.2% | 52.1% | 172.2% | 19.8% | 81.0% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €631k | €567k | €585k | €707k | €687k |
| Fixed assets | 21/28 | €445k | €439k | €483k | €552k | €589k |
| Tangible fixed assets | 22/27 | €444k | €438k | €483k | €552k | €589k |
| Financial fixed assets | 28 | €993 | €2k | - | - | - |
| Current assets | 29/58 | €185k | €128k | €102k | €155k | €98k |
| Amounts receivable within one year | 40/41 | €134k | €70k | €329 | €11 | €750 |
| Investments | 50/53 | €3k | €3k | €3k | €3k | €3k |
| Cash & bank | 54/58 | €48k | €51k | €96k | €147k | €94k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €631k | €567k | €585k | €707k | €687k |
| Equity | 10/15 | €144k | €110k | €72k | €347k | €297k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k | €62k |
| Reserves | 13 | €76k | €46k | €6k | €276k | €206k |
| Accumulated profits (losses) | 14 | €5k | €1k | €3k | €9k | €28k |
| Amounts payable | 17/49 | €487k | €458k | €513k | €360k | €390k |
| Amounts payable after one year | 17 | €380k | €316k | €376k | €224k | €266k |
| Amounts payable within one year | 42/48 | €104k | €140k | €130k | €130k | €118k |
| Trade debts payable within one year | 44 | €5k | €10k | €6k | €10k | €3k |
| Income statement | ||||||
| Gross operating margin | 9900 | €146k | €145k | €281k | €163k | €172k |
| Operating result | 9901 | €86k | €89k | €186k | €105k | €112k |
| Financial income | 75 | €5k | €2k | €221 | €3 | €251 |
| Financial charges | 65 | €20k | €13k | €20k | €11k | €11k |
| Result before taxes | 9903 | €72k | €77k | €166k | €94k | €101k |
| Income taxes | 67/77 | €18k | €20k | €42k | €25k | €27k |
| Net result for the period | 9904 | €53k | €57k | €124k | €69k | €74k |
| Result to be appropriated | 9905 | €53k | €57k | €124k | €69k | €74k |
Legal Structure
| NACE primary | Renting and operating of own or leased residential real estate, excluding social housing(68201) |
| Legal form | Public limited company(014) |
| Incorporation | 11-01-1989 |
| Status | Active |
| Postal code | 8500 |
Establishment units
STUDEKA
since 19892.041.816.544
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34022E0302/00V003 | Flanders | 2,693 m² | 1 · 59 m² | 6.9 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €53k ▼6.4%
Net result drops to €53k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
31-12
Financial
Equity above €100kEq €110k ▲52.9%
4 profitable years in a row build equity to €110k.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
03-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 38 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Renting and operating of own or leased residential real estate, excluding social housing68201Non-specialised retail sale with food, beverages or tobacco predominating47110Retail trade47112
Names & trade names
| Legal nameNL | STUDEKA |
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