STUDIES & DEVELOPMENT
ActiveSTUDIES & DEVELOPMENT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €555k and a net result of €81k. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 84% of 2034 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
94
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84▲+3
Solvency100▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 6.31 against 3.92 in 2024; short-term debt: 15.8% and cash: 49.6% of total assets), and 16.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 85
Relative position
BE, all sectors
reference
Sector 85
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
83.3%
Return on assets
12.1%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 01-10-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
30 d early
2023
26 d early
2022
21 d early
2021
6 d early
2020
19 d early
2019
3 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close19-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€555k▲ 0.7%
2024 · €551k
2019: €355k
2020: €411k
2021: €458k
2022: €489k
2023: €521k
2024: €551k
2019 → 2025
Total assets
€665k▼ 11.0%
2024 · €747k
2019: €509k
2020: €516k
2021: €576k
2022: €652k
2023: €693k
2024: €747k
2019 → 2025
Net result
€81k▲ 7.3%
2024 · €75k
2019: €82k
2020: €71k
2021: €62k
2022: €76k
2023: €75k
2024: €75k
2019 → 2025
Working capital
€559k▲ 0.7%
2024 · €555k
2019: €357k
2020: €413k
2021: €457k
2022: €492k
2023: €523k
2024: €555k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€458k-€489k▲ 6.7%€521k▲ 6.5%€551k▲ 5.8%€555k▲ 0.7%
Operating result€94k-€115k▲ 22.9%€115k▼ 0.2%€99k▼ 13.8%€117k▲ 17.7%
Net result€62k-€76k▲ 22.7%€75k▼ 1.0%€75k▲ 0.3%€81k▲ 7.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €665k
Fixed assets
€1k▼ 21.7%
Current assets
€664k▼ 10.9%
Equity and liabilities €665k
Equity
€555k▲ 0.7%
Debt
€111k▼ 43.6%
The debt ratio falls from 26.3% to 16.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€118k▲
2024 · €101k
Cash flow
€82k▲
2024 · €77k
Solvency
83.3%▲
2024 · 73.7%
Current ratio
6.31▲
2024 · 3.92
Quick ratio
6.31▲
2024 · 3.92
Debt / equity
0.20▼
2024 · 0.36
ROE
14.6%▲
2024 · 13.7%
ROA
12.1%▲
2024 · 10.1%
Interest coverage
19.97▲
2024 · 16.07
Debt
€111k▼
2024 · €196k
Debt ≤ 1 year
€105k▼
2024 · €190k
Income taxes
€39k▲
2024 · €22k
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€747k€665k▼
Fixed assets21/28€2k€1k▼
Tangible fixed assets22/27€2k€1k▼
Plant, machinery and equipment23€330€576▲
Furniture and vehicles24€1k€774▼
Current assets29/58€746k€664k▼
Amounts receivable within one year40/41€5k€4k▼
Trade receivables40€0€4k▲
Other amounts receivable41€5k€0▼
Current investments50/53€100k€325k▲
Cash at bank and in hand54/58€638k€330k▼
Deferred charges and accrued income490/1€2k€5k▲
Equity and liabilities
Total equity and liabilities10/49€747k€665k▼
Equity10/15€551k€555k▲
Contributions10/11€6k€6k=
Reserves13€363k€367k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€363k€367k▲
Profit (loss) carried forward14€182k€182k=
Amounts payable17/49€196k€111k▼
Amounts payable within one year42/48€190k€105k▼
Trade debts44€0-
Suppliers440/4€0-
Taxes, remuneration and social security45€9k€11k▲
Taxes450/3€9k€11k▲
Other amounts payable47/48€181k€94k▼
Accrued charges and deferred income492/3€6k€6k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€792▼
Other operating charges640/8€984€737▼
Gross operating margin9900€102k€118k▲
Operating profit (loss)9901€99k€117k▲
Financial income75/76B€4k€8k▲
Recurring financial income75€4k€8k▲
Financial charges65/66B€6k€6k▼
Recurring financial charges65€6k€6k▼
Profit (loss) for the period before taxes9903€97k€119k▲
Income taxes67/77€22k€39k▲
Profit (loss) for the period9904€75k€81k▲
Profit (loss) for the period to be appropriated9905€75k€81k▲
Appropriation of the result
Profit (loss) to be appropriated9906€257k€262k▲
Profit (loss) brought forward from the previous period14P€182k€182k=
Transfer from equity791/2€45k€77k▲
Transfer to equity691/2€75k€81k▲
To other reserves6921€75k€81k▲
Profit to be distributed694/7€45k€77k▲
Return on contributions (dividend)694€45k€77k▲
The notes to these accounts (5 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
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €500kEq €521k ▲6.5%
5 profitable years in a row build equity to €521k.
2022
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Weakest financial yearnet €62k ▼12.8%
Net result drops to €62k, the lowest in the series; recovery starts the following year.
2020
12-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
20-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Liège · 1 establishment unit since 2006
Ground area
365 m²
Building footprint
59 m²
Volume, LiDAR
410 m³
Parcel 62087A0157/00K005, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
STUDIES AND DEVELOPMENT SRL
since 20062.156.954.158
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62087A0157/00K005 | Wallonia | 365 m² | 1 · 59 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
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.
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Of 293 companies in sector 85532 we hold annual accounts for 83. 39 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-05-2006
Fiscal year end31-03
Activities, NACEBEL
85532Education
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.