STUDIO 10
Active1 interim measureSummary
The file of STUDIO 10 contains 1 interim measure, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 0.5% (low). The 2025 annual accounts show equity of €548,691 and a net result of €22,650. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 19% of 8160 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▲+4
Solvency38▲+1
Growth38▲+15
Track record80
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.19 against 1.2 in 2024; short-term debt: 74% and cash: 0.2% of total assets), and 87.4% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
12.6%
Return on assets
0.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 8160 sector peers (2025).
NBB · sector comparisonPosition among 8160 sector peers
Solvency
better than 19%
← 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
31 d late
2023
28 d late
2022
107 d late
2021
31 d late
2020
129 d late
2019
70 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 41 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
€5.1m▼ 36.9%
2022 · €8.0m
EBIT margin
6.0%▲ 2.3pp
2022 · 3.7%
Net result
€22,650▲ 24.1%
2024 · €18,257
Working capital
€620,367▼ 5.1%
2024 · €653,925
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€8.0m▲ 3.9%€8.0m▲ 0.2%€5.1m
Operating result€292,528▲ 386%€298,580▲ 2.1%€261,150▼ 12.5%€136,335▼ 47.8%€305,238▲ 124%
Net result-€105,556below the sector's middle half▲ 70.9%€80,345within the sector's middle half€119,315within the sector's middle half▲ 48.5%€18,257within the sector's middle half▼ 84.7%€22,650within the sector's middle half▲ 24.1%
EBIT margin3.7%▲ 2.9pp3.7%▲ 0.1pp6.0%
Equity€308,062within the sector's middle half▼ 25.5%€388,408within the sector's middle half▲ 26.1%€507,784within the sector's middle half▲ 30.7%€526,041within the sector's middle half▲ 3.6%€548,691within the sector's middle half▲ 4.3%
Total assets€4.8mabove the sector's middle half▲ 1.4%€5.7mabove the sector's middle half▲ 19.0%€4.9mabove the sector's middle half▼ 13.7%€4.5mabove the sector's middle half▼ 9.0%€4.3mabove the sector's middle half▼ 3.5%
Debt€4.5m▲ 4.0%€5.3m▲ 18.5%€4.4m▼ 16.9%€4.0m▼ 10.4%€3.8m▼ 4.5%
Working capital€1.2mabove the sector's middle half▲ 399%€843,545within the sector's middle half▼ 28.3%€607,680within the sector's middle half▼ 28.0%€653,925within the sector's middle half▲ 7.6%€620,367within the sector's middle half▼ 5.1%
Solvency6.4%below the sector's middle half▼ 2.3pp6.8%below the sector's middle half▲ 0.4pp10.3%below the sector's middle half▲ 3.5pp11.7%below the sector's middle half▲ 1.4pp12.6%below the sector's middle half▲ 0.9pp
Current ratio1.37within the sector's middle half▲ 0.311.19within the sector's middle half▼ 0.181.17within the sector's middle half▼ 0.021.20within the sector's middle half▲ 0.031.19within the sector's middle half▼ 0.01
Return on assets (ROA)-2.2%below the sector's middle half▲ 5.4pp1.4%within the sector's middle half▲ 3.6pp2.4%within the sector's middle half▲ 1.0pp0.4%within the sector's middle half▼ 2.0pp0.5%within the sector's middle half▲ 0.1pp
Staff (FTE)12.1above the sector's middle half8.6above the sector's middle half▼ 28.9%8.6above the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2021 Net result +71% on 2020. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 124% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.3m
Fixed assets
€509,903 ▼ 22.0%
Current assets
€3.8m ▼ 0.4%
Equity and liabilities €4.3m
Equity
€548,691 ▲ 4.3%
Debt
€3.8m ▼ 4.5%
Debt's share of the balance-sheet total falls from 88.3% to 87.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€577,501▲
2024 · €289,627
Cash flow
€294,913▲
2024 · €171,549
Quick ratio
0.56▲
2024 · 0.54
Debt to equity
6.91▼
2024 · 7.56
ROE
4.1%▲
2024 · 3.5%
Interest coverage
1.68▼
2024 · 2.51
Debt ≤ 1 year
€3.2m▲
2024 · €3.2m
Debt > 1 year
€581,579▼
2024 · €781,375
Income taxes
€0
Staff costs
€529,482▲
2024 · €393,951
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,980 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,980 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €8.0m | €8.0m | - | - | €5.1m | - |
| Non-recurring operating income76A | €23,322 | €1,452 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €7.0m | €6.6m | €4.5m | €4.2m | €4.1m | ▼ 4.0% |
| Remuneration, social security and pensions62 | €715,199 | €814,099 | €998,145 | €393,951 | €529,482 | ▲ 34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €81,974 | €90,886 | €161,275 | €153,292 | €272,263 | ▲ 77.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €126,585 | €12,677 | €103,190 | - | - | - |
| Other operating charges640/8 | €83,779 | €28,719 | €52,714 | €6,245 | €26,367 | ▲ 322% |
| Gross operating margin9900 | €1.3m | €1.2m | €1.6m | €689,823 | €1.1m | ▲ 64.3% |
| Operating profit (loss)9901 | €292,528 | €298,580 | €261,150 | €136,335 | €305,238 | ▲ 124% |
| Financial income75/76B | €13,727 | €34,189 | €28,848 | €451 | €61,382 | ▲ 13,514% |
| Recurring financial income75 | €13,727 | €34,189 | €28,848 | €451 | €61,382 | ▲ 13,514% |
| Financial charges65/66B | €405,626 | €246,300 | €170,683 | €118,528 | €343,970 | ▲ 190% |
| Recurring financial charges65 | €405,626 | €246,300 | €170,683 | €115,418 | €343,970 | ▲ 198% |
| Non-recurring financial charges66B | - | - | - | €3,111 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | -€99,372 | €86,469 | €119,315 | €18,257 | €22,650 | ▲ 24.1% |
| Income taxes67/77 | €6,184 | €6,124 | - | - | €0 | - |
| Profit (loss) for the period9904 | -€105,556 | €80,345 | €119,315 | €18,257 | €22,650 | ▲ 24.1% |
| Profit (loss) for the period to be appropriated9905 | -€105,556 | €80,345 | €119,315 | €18,257 | €22,650 | ▲ 24.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.8m | €5.7m | €4.9m | €4.5m | €4.3m | ▼ 3.5% |
| Fixed assets21/28 | €466,170 | €462,096 | €799,323 | €653,491 | €509,903 | ▼ 22.0% |
| Intangible fixed assets21 | €117,669 | €145,531 | €527,892 | €437,799 | €347,706 | ▼ 20.6% |
| Tangible fixed assets22/27 | €341,001 | €309,065 | €263,931 | €208,192 | €154,697 | ▼ 25.7% |
| Land and buildings22 | €186,455 | €161,651 | €136,847 | €119,610 | €94,835 | ▼ 20.7% |
| Plant, machinery and equipment23 | €0 | - | - | - | - | - |
| Furniture and vehicles24 | €106,351 | €89,756 | €90,934 | €66,186 | €42,454 | ▼ 35.9% |
| Leasing and similar rights25 | €0 | €0 | - | - | - | - |
| Other tangible fixed assets26 | €48,195 | €57,658 | €36,150 | €22,396 | €17,409 | ▼ 22.3% |
| Financial fixed assets28 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Current assets29/58 | €4.4m | €5.3m | €4.1m | €3.8m | €3.8m | ▼ 0.4% |
| Amounts receivable after more than one year29 | €93,500 | €776,732 | €776,732 | €776,732 | €776,732 | = |
| Trade receivables290 | €93,500 | €776,732 | €776,732 | €776,732 | €776,732 | = |
| Other amounts receivable291 | - | - | - | - | €0 | - |
| Stocks and contracts in progress3 | €2.3m | €2.2m | €2.4m | €2.1m | €2.0m | ▼ 4.3% |
| Stocks30/36 | €1.2m | €1.1m | €1.1m | €871,241 | €726,301 | ▼ 16.6% |
| Contracts in progress37 | €1.1m | €1.0m | €1.3m | €1.3m | €1.3m | ▲ 4.1% |
| Amounts receivable within one year40/41 | €1.4m | €1.6m | €635,507 | €494,086 | €513,759 | ▲ 4.0% |
| Trade receivables40 | €1.4m | €1.6m | €526,917 | €406,604 | €430,943 | ▲ 6.0% |
| Other amounts receivable41 | €38,764 | €911 | €108,590 | €87,482 | €82,817 | ▼ 5.3% |
| Cash at bank and in hand54/58 | €5,517 | €4,645 | €1,911 | €43,899 | €7,683 | ▼ 82.5% |
| Deferred charges and accrued income490/1 | €551,422 | €704,869 | €310,712 | €394,070 | €488,945 | ▲ 24.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.8m | €5.7m | €4.9m | €4.5m | €4.3m | ▼ 3.5% |
| Equity10/15 | €308,062 | €388,408 | €507,784 | €526,041 | €548,691 | ▲ 4.3% |
| Contributions10/11 | €575,000 | €575,000 | €575,000 | €575,000 | €575,000 | = |
| Outside capital11 | €575,000 | €575,000 | €575,000 | - | - | - |
| Other1109/19 | €575,000 | €575,000 | €575,000 | - | - | - |
| Reserves13 | €60,800 | €60,800 | €60,800 | €60,800 | €60,800 | = |
| Non-distributable reserves130/1 | €57,500 | €57,500 | €57,500 | €57,500 | €57,500 | = |
| Reserves not available under the articles1311 | €57,500 | €57,500 | €57,500 | €57,500 | €57,500 | = |
| Tax-exempt reserves132 | €175 | €175 | €175 | €175 | €175 | = |
| Distributable reserves133 | €3,125 | €3,125 | €3,125 | €3,125 | €3,125 | = |
| Profit (loss) carried forward14 | -€327,738 | -€247,393 | -€128,016 | -€109,759 | -€87,109 | ▲ 20.6% |
| Provisions and deferred taxes16 | - | - | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | €0 | - | - | - |
| Pensions and similar obligations160 | - | - | €0 | - | - | - |
| Amounts payable17/49 | €4.5m | €5.3m | €4.4m | €4.0m | €3.8m | ▼ 4.5% |
| Amounts payable after more than one year17 | €1.3m | €917,234 | €899,218 | €781,375 | €581,579 | ▼ 25.6% |
| Financial debts170/4 | €1.3m | €917,234 | €899,218 | €781,375 | €581,579 | ▼ 25.6% |
| Amounts payable within one year42/48 | €3.2m | €4.4m | €3.5m | €3.2m | €3.2m | ▲ 0.6% |
| Current portion of amounts payable after more than one year42 | €73,561 | €41,547 | €139,205 | €155,087 | €110,596 | ▼ 28.7% |
| Financial debts43 | €1.1m | €1.5m | €992,550 | €906,850 | €952,400 | ▲ 5.0% |
| Credit institutions430/8 | €17,550 | €17,550 | €817,550 | €800,000 | €800,000 | = |
| Other loans439 | €1.1m | €1.5m | €175,000 | €106,850 | €152,400 | ▲ 42.6% |
| Trade debts44 | €1.2m | €1.3m | €481,646 | €323,008 | €672,277 | ▲ 108% |
| Suppliers440/4 | €1.2m | €1.3m | €481,646 | €323,008 | €672,277 | ▲ 108% |
| Advances received on contracts in progress46 | €0 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €189,311 | €439,368 | €807,107 | €572,022 | €654,855 | ▲ 14.5% |
| Taxes450/3 | €127,941 | €425,019 | €507,748 | €160,396 | €268,474 | ▲ 67.4% |
| Remuneration and social security454/9 | €61,370 | €14,349 | €299,358 | €411,626 | €386,381 | ▼ 6.1% |
| Other amounts payable47/48 | €613,912 | €1.2m | €1.1m | €1.2m | €822,329 | ▼ 33.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€105,556 | €80,345 | €119,315 | €18,257 | €22,650 | ▲ 24.1% |
| + Depreciation and write-downs630 | €81,974 | €90,886 | €161,275 | €153,292 | €272,263 | ▲ 77.6% |
| Operating cash flow (approximation) | -€23,582 | €171,231 | €280,590 | €171,549 | €294,913 | ▲ 71.9% |
| Investment in fixed assets (approximation) | - | -€86,812 | -€498,502 | -€7,461 | -€128,675 | ▼ 1,625% |
| Change in cash | - | -€873 | -€2,734 | €41,988 | -€36,215 | ▼ 186% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
31-12
Financial
Highest result since 2018net €119,315 ▲48.5%
Net result €119,315, the highest in the series.
31-12
Financial
Equity above €500,000Eq €507,784 ▲30.7%
2 profitable years in a row build equity to €507,784.
15-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 107 days late
27-09
Interim measure
Provisional administrator
Ondernemingsrechtbank Gent
2022
31-12
Financial
Back to profitnet €80,345
Net result €80,345 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
07-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 129 days late
2020
31-12
Financial
Weakest financial yearnet -€362,352
Net result drops to -€362,352, the lowest in the series; recovery starts the following year.
22-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
9 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, Zele · 1 establishment unit since 1989
Ground area
4,070 m²
Building footprint
1,927 m²
Volume, LiDAR
27 m³
Parcel 42028A1513/00A000, Flanders · tallest building 6.6 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Poldergotestraat 6, 9240 Zele
since 19892.045.302.408
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42028A1513/00A000 | Flanders | 4,070 m² | 1 · 1,927 m² | 6.6 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 5,603 EUR awarded · 5,603 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,103 EUR | 1,103 EUR |
| 2022 | 1 | 4,500 EUR | 4,500 EUR |
Similar companies · same sector, comparable size
FALKE BELGIUM
BE 0838.258.855
Schaarbeek · Eq €549,091
COVER BELGIUM
BE 0455.923.358
Keerbergen · Eq €552,548
WADO
BE 0473.225.485
Havelange · Eq €542,041
PLANETE MARS
BE 0453.589.123
Charleroi · Eq €556,768
Textile Marketing Distribution
BE 0417.794.737
Merelbeke-Melle · Eq €557,048
Of 1,307 companies in sector 46423 we hold annual accounts for 810. 521 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46423Wholesale of clothing, excluding workwear and underwear
46425Wholesale trade
47721Retail sale of footwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438534822
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.