Studio Duo
ActiveSummary
Studio Duo has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20k and a net result of €191k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 3489 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency34▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.04 against 1.04 in 2024; short-term debt: 90.9% and cash: 82% of total assets), and 90.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
9.1%
Return on assets
85.3%
Age of the figures
12 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 3489 sector peers (2025).
NBB · sector comparisonPosition among 3489 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 21-11-2025, 160 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
160 d early
2024
131 d early
2023
99 d early
2022
115 d early
2021
117 d early
2020
17 d early
2019
30 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€20k▼ 25.1%
2024 · €27k
2018: €108k
2019: €115k▲ +6.3% vs 2018highest in 8 years
2020: €42k▼ -63.3% vs 2019
2021: €28k▼ -34.2% vs 2020
2022: €28k▲ +1.3% vs 2021
2023: €28k▲ +0.1% vs 2022
2024: €27k▼ -3.2% vs 2023
2025: €20k▼ -25.1% vs 2024lowest in 8 years
2018 → 2025
Total assets
€225k▼ 30.9%
2024 · €325k
2018: €137k
2019: €133k▼ -3.0% vs 2018
2020: €160k▲ +20.6% vs 2019
2021: €110k▼ -31.3% vs 2020lowest in 8 years
2022: €136k▲ +23.3% vs 2021
2023: €159k▲ +17.4% vs 2022
2024: €325k▲ +104% vs 2023highest in 8 years
2025: €225k▼ -30.9% vs 2024
2018 → 2025
Net result
€191k▼ 31.9%
2024 · €281k
2018: €36k
2019: €8k▼ -76.8% vs 2018lowest in 8 years
2020: €27k▲ +221% vs 2019
2021: €42k▲ +55.3% vs 2020
2022: €95k▲ +126% vs 2021
2023: €47k▼ -51.1% vs 2022
2024: €281k▲ +503% vs 2023highest in 8 years
2025: €191k▼ -31.9% vs 2024
2018 → 2025
Working capital
€9k▼ 28.4%
2024 · €13k
2018: €-17k
2019: €6k▲ +133% vs 2018
2020: €-45k▼ -899% vs 2019lowest in 8 years
2021: €-44k▲ +1.5% vs 2020
2022: €-19k▲ +56.3% vs 2021
2023: €3k▲ +118% vs 2022
2024: €13k▲ +276% vs 2023highest in 8 years
2025: €9k▼ -28.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€28k-€28k▲ 1.3%€28k▲ 0.1%€27k▼ 3.2%€20k▼ 25.1%
2021: €28k
2022: €28k▲ +1.3% vs 2021
2023: €28k▲ +0.1% vs 2022highest in 5 years
2024: €27k▼ -3.2% vs 2023
2025: €20k▼ -25.1% vs 2024lowest in 5 years
Operating result€54k-€122k▲ 127%€60k▼ 51.1%€370k▲ 521%€250k▼ 32.4%
2021: €54klowest in 5 years
2022: €122k▲ +127% vs 2021
2023: €60k▼ -51.1% vs 2022
2024: €370k▲ +521% vs 2023highest in 5 years
2025: €250k▼ -32.4% vs 2024
Net result€42k-€95k▲ 126%€47k▼ 51.1%€281k▲ 503%€191k▼ 31.9%
2021: €42klowest in 5 years
2022: €95k▲ +126% vs 2021
2023: €47k▼ -51.1% vs 2022
2024: €281k▲ +503% vs 2023highest in 5 years
2025: €191k▼ -31.9% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 32% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225k
Fixed assets
€11k ▼ 24.7%
Current assets
€213k ▼ 31.2%
Equity and liabilities €225k
Equity
€20k ▼ 25.1%
Debt
€204k ▼ 31.5%
Debt's share of the balance-sheet total falls from 91.6% to 90.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€257k▼
2024 · €384k
Cash flow
€198k▼
2024 · €295k
Current ratio
1.04▲
2024 · 1.04
Debt to equity
9.98▼
2024 · 10.90
ROE
935.8%
ROA
85.3%▼
2024 · 86.4%
Interest coverage
1412.85▲
2024 · 1335.73
Debt ≤ 1 year
€204k▼
2024 · €297k
Income taxes
€59k▼
2024 · €89k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€325k€225k▼
Fixed assets21/28€15k€11k▼
Tangible fixed assets22/27€15k€11k▼
Land and buildings22€5k€3k▼
Plant, machinery and equipment23€2k€855▼
Furniture and vehicles24€8k€7k▼
Financial fixed assets28€100€100=
Current assets29/58€310k€213k▼
Amounts receivable within one year40/41€20k€27k▲
Trade receivables40€18k€18k▲
Other amounts receivable41€2k€9k▲
Cash at bank and in hand54/58€288k€184k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€325k€225k▼
Equity10/15€27k€20k▼
Contributions10/11€19k€19k=
Reserves13€9k€2k▼
Non-distributable reserves130/1€9k€0▼
Reserves not available under the articles1311€9k€0▼
Distributable reserves133-€2k
Profit (loss) carried forward14€0€0=
Amounts payable17/49€298k€204k▼
Amounts payable within one year42/48€297k€204k▼
Financial debts43€103€156▲
Credit institutions430/8€74€77▲
Other loans439€29€79▲
Trade debts44-€970
Suppliers440/4-€970
Taxes, remuneration and social security45€15k€5k▼
Taxes450/3€13k€5k▼
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€282k€198k▼
Accrued charges and deferred income492/3€470€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€7k▼
Other operating charges640/8€896€1k▲
Gross operating margin9900€385k€258k▼
Operating profit (loss)9901€370k€250k▼
Financial income75/76B€97€137▲
Recurring financial income75€97€137▲
Financial charges65/66B€288€182▼
Recurring financial charges65€288€182▼
Profit (loss) for the period before taxes9903€370k€250k▼
Income taxes67/77€89k€59k▼
Profit (loss) for the period9904€281k€191k▼
Profit (loss) for the period to be appropriated9905€281k€191k▼
Appropriation of the result
Profit (loss) to be appropriated9906€282k€191k▼
Profit (loss) brought forward from the previous period14P€914€0▼
Transfer from equity791/2-€7k
Profit to be distributed694/7€282k€198k▼
Return on contributions (dividend)694€282k€198k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €50 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31k | €29k | €26k | €14k | €7k | ▼ 53.6% |
| Other operating charges640/8 | - | €674 | €946 | €896 | €1k | ▲ 17.9% |
| Gross operating margin9900 | €85k | €151k | €87k | €385k | €258k | ▼ 33.0% |
| Operating profit (loss)9901 | €54k | €122k | €60k | €370k | €250k | ▼ 32.4% |
| Financial income75/76B | - | €272 | €13 | €97 | €137 | ▲ 42.2% |
| Recurring financial income75 | €291 | €272 | €13 | €97 | €137 | ▲ 42.2% |
| Financial charges65/66B | - | €179 | €240 | €288 | €182 | ▼ 36.8% |
| Recurring financial charges65 | €231 | €179 | €240 | €288 | €182 | ▼ 36.8% |
| Profit (loss) for the period before taxes9903 | €54k | €122k | €59k | €370k | €250k | ▼ 32.3% |
| Income taxes67/77 | €12k | €27k | €13k | €89k | €59k | ▼ 33.8% |
| Profit (loss) for the period9904 | €42k | €95k | €47k | €281k | €191k | ▼ 31.9% |
| Profit (loss) for the period to be appropriated9905 | €42k | €95k | €47k | €281k | €191k | ▼ 31.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €110k | €136k | €159k | €325k | €225k | ▼ 30.9% |
| Fixed assets21/28 | €72k | €48k | €25k | €15k | €11k | ▼ 24.7% |
| Tangible fixed assets22/27 | €72k | €48k | €25k | €15k | €11k | ▼ 24.9% |
| Land and buildings22 | - | €34k | €13k | €5k | €3k | ▼ 31.6% |
| Plant, machinery and equipment23 | - | €968 | €2k | €2k | €855 | ▼ 56.8% |
| Furniture and vehicles24 | - | €12k | €10k | €8k | €7k | ▼ 13.1% |
| Financial fixed assets28 | - | - | - | €100 | €100 | = |
| Current assets29/58 | €38k | €88k | €134k | €310k | €213k | ▼ 31.2% |
| Amounts receivable within one year40/41 | €5k | €10k | €18k | €20k | €27k | ▲ 34.2% |
| Trade receivables40 | - | €786 | €15k | €18k | €18k | ▲ 2.1% |
| Other amounts receivable41 | - | €9k | €3k | €2k | €9k | ▲ 292% |
| Cash at bank and in hand54/58 | €31k | €77k | €115k | €288k | €184k | ▼ 36.0% |
| Deferred charges and accrued income490/1 | - | €2k | €2k | €2k | €2k | ▲ 2.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €110k | €136k | €159k | €325k | €225k | ▼ 30.9% |
| Equity10/15 | €28k | €28k | €28k | €27k | €20k | ▼ 25.1% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €9k | €9k | €9k | €9k | €2k | ▼ 78.7% |
| Non-distributable reserves130/1 | - | €9k | €9k | €9k | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €9k | €9k | €9k | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €510 | €877 | €914 | €0 | €0 | - |
| Amounts payable17/49 | €82k | €108k | €131k | €298k | €204k | ▼ 31.5% |
| Amounts payable within one year42/48 | €82k | €107k | €131k | €297k | €204k | ▼ 31.4% |
| Financial debts43 | - | €720 | €157 | €103 | €156 | ▲ 51.5% |
| Credit institutions430/8 | - | €720 | €157 | €74 | €77 | ▲ 4.1% |
| Other loans439 | - | - | - | €29 | €79 | ▲ 172% |
| Trade debts44 | €3k | €2k | €0 | - | €970 | - |
| Suppliers440/4 | - | €2k | €0 | - | €970 | - |
| Taxes, remuneration and social security45 | - | €10k | €8k | €15k | €5k | ▼ 69.5% |
| Taxes450/3 | - | €5k | €5k | €13k | €5k | ▼ 65.0% |
| Remuneration and social security454/9 | - | €5k | €3k | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €95k | €122k | €282k | €198k | ▼ 29.7% |
| Accrued charges and deferred income492/3 | - | €470 | €470 | €470 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42k | €95k | €47k | €281k | €191k | ▼ 31.9% |
| + Depreciation and write-downs630 | €31k | €29k | €26k | €14k | €7k | ▼ 53.6% |
| Operating cash flow (approximation) | €73k | €124k | €73k | €295k | €198k | ▼ 32.9% |
| Investment in fixed assets (approximation) | - | €-5k | €-4k | €-4k | €-3k | ▲ 25.6% |
| Change in cash | - | €45k | €38k | €173k | €-104k | ▼ 160% |
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
2025
21-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-09
Financial
Highest result since 2018net €281k ▲503%
Operating result €370k, net result €281k, both a record.
22-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
03-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
13-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet €8k ▼76.8%
Net result drops to €8k, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity triplescurrent ratio 1.31
Current ratio from 0.42 to 1.31; short-term debt falls from €29k to €18k.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Gent · 1 establishment unit since 2013
Ground area
352 m²
Building footprint
89 m²
Volume, LiDAR
669 m³
Parcel 44432C1138/00P006, Flanders · tallest building 14.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Studio Duo
since 20132.223.357.883
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C1138/00P006 | Flanders | 352 m² | 1 · 89 m² | 14.2 m · 1 fl. |
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.
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Of 6,293 companies in sector 74120 we hold annual accounts for 1,011. 859 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
Founded04-10-2013
Fiscal year end30-09
Activities, NACEBEL 2025
74120Graphic design and visual communication
Contact
E-mail
info@treesb.beGent
Phone
0472777559Gent
Scores and ratios are computed by Checked and are not a credit decision.