STUDI'EAU
Dissolved and wound upFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-04-2026 at the NBB all 3 filings
Equity
€10,659▼ 75.2%
2024 · €42,974
Total assets
€36,678▼ 28.1%
2024 · €50,985
Net result
-€7,314
2024 · €3,118
Working capital
€10,659▼ 75.2%
2024 · €42,974
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€7,233
2025
20232025
Net result
-€7,314
2025
20232025
Equity
€10,659
▼ 75.2%
2025
20232025
Total assets
€36,678
▼ 28.1%
2025
20232025
Debt
€26,019
▲ 225%
2025
20232025
Working capital
€10,659
▼ 75.2%
2025
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€17,846-€4,039▼ 77.4%-€7,233
Net result€14,148-€3,118▼ 78.0%-€7,314
Equity€39,856-€42,974▲ 7.8%€10,659▼ 75.2%
Total assets€43,343-€50,985▲ 17.6%€36,678▼ 28.1%
Debt€3,487-€8,011▲ 130%€26,019▲ 225%
Working capital€39,856-€42,974▲ 7.8%€10,659▼ 75.2%
The operating result for 2025 is a loss of €7,233, after a profit of €4,039 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €36,678
Equity
€10,659 ▼ 75.2%
Debt
€26,019 ▲ 225%
Debt's share of the balance-sheet total rises from 15.7% to 70.9%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.41▼
2024 · 6.36
Debt to equity
2.44▲
2024 · 0.19
ROE
-68.6%▼
2024 · 7.3%
ROA
-19.9%▼
2024 · 6.1%
Debt ≤ 1 year
€26,019▲
2024 · €8,011
Income taxes
€0▼
2024 · €869
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | €218 | €623 | €640 | ▲ 2.6% |
| Gross operating margin9900 | €18,064 | €4,663 | -€6,594 | - |
| Operating profit (loss)9901 | €17,846 | €4,039 | -€7,233 | - |
| Financial charges65/66B | €155 | €53 | €81 | ▲ 54.4% |
| Recurring financial charges65 | €155 | €53 | €81 | ▲ 54.4% |
| Profit (loss) for the period before taxes9903 | €17,692 | €3,987 | -€7,314 | - |
| Income taxes67/77 | €3,543 | €869 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €14,148 | €3,118 | -€7,314 | - |
| Profit (loss) for the period to be appropriated9905 | €14,148 | €3,118 | -€7,314 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €43,343 | €50,985 | €36,678 | ▼ 28.1% |
| Current assets29/58 | €43,343 | €50,985 | €36,678 | ▼ 28.1% |
| Amounts receivable within one year40/41 | €13,010 | €13,984 | €805 | ▼ 94.2% |
| Trade receivables40 | €12,778 | €9,351 | €0 | ▼ 100% |
| Other amounts receivable41 | €232 | €4,633 | €805 | ▼ 82.6% |
| Cash at bank and in hand54/58 | €30,333 | €37,001 | €35,873 | ▼ 3.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €43,343 | €50,985 | €36,678 | ▼ 28.1% |
| Equity10/15 | €39,856 | €42,974 | €10,659 | ▼ 75.2% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €29,856 | €32,974 | €659 | ▼ 98.0% |
| Distributable reserves133 | €29,856 | €32,974 | €659 | ▼ 98.0% |
| Profit (loss) carried forward14 | - | - | €0 | - |
| Amounts payable17/49 | €3,487 | €8,011 | €26,019 | ▲ 225% |
| Amounts payable within one year42/48 | €3,487 | €8,011 | €26,019 | ▲ 225% |
| Trade debts44 | €0 | €3,502 | €4,533 | ▲ 29.4% |
| Suppliers440/4 | €0 | €3,502 | €4,533 | ▲ 29.4% |
| Taxes, remuneration and social security45 | €1,563 | €1,912 | €0 | ▼ 100% |
| Taxes450/3 | €1,563 | €1,912 | €0 | ▼ 100% |
| Other amounts payable47/48 | €1,924 | €2,597 | €21,485 | ▲ 727% |
| Accrued charges and deferred income492/3 | €0 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,148 | €3,118 | -€7,314 | - |
| Operating cash flow (approximation) | €14,148 | €3,118 | -€7,314 | - |
| Change in cash | - | €6,668 | -€1,128 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.