STUDIO EMMA

Active

Private limited companyfounded 200323 yrs activeBaron Ruzettelaan 3, 8310 Brugge, BelgiumKBO/BCE: BE 0480.535.129

STUDIO EMMA has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-237k) and a net result of €-301k. Equity is shrinking by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 2831 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2024

32 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency0▼-30

Growth32=

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.68 against 0.91 in 2023; short-term debt: 126.1% and cash: 13.7% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 62

Relative position

BE, all sectors

reference

Sector 62

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

-26.3%

Return on assets

-33.4%

Age of the figures

21 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Negative equity

The 2024 annual accounts show negative equity and a net loss.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €-237k

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

43 d early

2023

184 d late

2022

32 d late

2021

3 d early

2020

30 d late

2019

101 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€-237k

2023 · €64k

2018: €294k 2019: €305k 2020: €342k 2021: €344k 2022: €335k 2023: €64k

2018 → 2024

Total assets

€901k▼ 23.3%

2023 · €1.18M

2018: €1.36M 2019: €1.32M 2020: €1.57M 2021: €1.87M 2022: €1.66M 2023: €1.18M

2018 → 2024

Net result

€-301k▼ 11.0%

2023 · €-271k

2018: €-15k 2019: €11k 2020: €37k 2021: €2k 2022: €-9k 2023: €-271k

2018 → 2024

Working capital

€-358k▼ 270%

2023 · €-97k

2018: €-76k 2019: €-88k 2020: €-29k 2021: €-50k 2022: €-66k 2023: €-97k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€342k-€344k▲ 0.5%€335k▼ 2.6%€64k▼ 81.0%€-237k

Operating result€88k-€37k▼ 58.1%€24k▼ 33.6%€-293k€-260k▲ 11.2%

Net result€37k-€2k▼ 95.5%€-9k€-271k▼ 2,943%€-301k▼ 11.0%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €260k in 2024 against €293k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €901k

13.6%

86.4%

Fixed assets €123k▼ 24.5%

Current assets €779k▼ 23.2%

Key figures and ratios

2024 value · change against 2023

EBITDA

€-217k▼

2023 · €-209k

Cash flow

€-258k▼

2023 · €-187k

Solvency

-26.3%▼

2023 · 5.4%

Current ratio

0.68▼

2023 · 0.91

Quick ratio

0.68▼

2023 · 0.91

Debt / equity

-4.80▼

2023 · 17.47

ROA

-33.4%▼

2023 · -23.1%

Interest coverage

-5.33▲

2023 · -7.78

Debt

€1.14M▲

2023 · €1.11M

Debt ≤ 1 year

€1.14M▲

2023 · €1.11M

Income taxes

€3k▼

2023 · €5k

Staff costs

€2.04M▲

2023 · €2.03M

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€1.18M€901k▼

Fixed assets21/28€162k€123k▼

Intangible fixed assets21€63k€44k▼

Tangible fixed assets22/27€46k€25k▼

Land and buildings22€0-

Plant, machinery and equipment23€24k€16k▼

Furniture and vehicles24€13k€8k▼

Other tangible fixed assets26-€2k

Assets under construction and advance payments27€9k€0▼

Financial fixed assets28€54k€54k=

Current assets29/58€1.01M€779k▼

Amounts receivable within one year40/41€821k€618k▼

Trade receivables40€652k€523k▼

Other amounts receivable41€170k€95k▼

Cash at bank and in hand54/58€192k€124k▼

Deferred charges and accrued income490/1€0€37k▲

Equity and liabilities

Total equity and liabilities10/49€1.18M€901k▼

Equity10/15€64k€-237k▼

Contributions10/11€519k€519k=

Profit (loss) carried forward14€-455k€-756k▼

Amounts payable17/49€1.11M€1.14M▲

Amounts payable after more than one year17€0-

Financial debts170/4€0-

Amounts payable within one year42/48€1.11M€1.14M▲

Current portion of amounts payable after more than one year42€0-

Financial debts43€391k€400k▲

Credit institutions430/8€391k€400k▲

Trade debts44€213k€210k▼

Suppliers440/4€213k€210k▼

Advances received on contracts in progress46€137k€43k▼

Taxes, remuneration and social security45€369k€296k▼

Taxes450/3€82k€76k▼

Remuneration and social security454/9€287k€221k▼

Other amounts payable47/48€800€188k▲

Accrued charges and deferred income492/3€2k€2k=

Income statement Code20232024

Remuneration, social security and pensions62€2.03M€2.04M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€43k▼

Other operating charges640/8€67k€8k▼

Non-recurring operating charges66A€53€0▼

Gross operating margin9900€1.89M€1.83M▼

Operating profit (loss)9901€-293k€-260k▲

Financial income75/76B€54k€3k▼

Recurring financial income75€8k€3k▼

Non-recurring financial income76B€46k€0▼

Financial charges65/66B€27k€41k▲

Recurring financial charges65€27k€41k▲

Profit (loss) for the period before taxes9903€-266k€-298k▼

Income taxes67/77€5k€3k▼

Profit (loss) for the period9904€-271k€-301k▼

Profit (loss) for the period to be appropriated9905€-271k€-301k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-455k€-756k▼

Profit (loss) brought forward from the previous period14P€-184k€-455k▼

Social balance

Average headcount (FTE)908727.025.6▼

The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2025

18-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

31-01

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 184 days late

2024

31-12

Financial Weakest financial yearnet €-301k

Net result drops to €-301k, the lowest in the series.

2023

01-09

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 32 days late

2022

28-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

30-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 30 days late

2020

31-12

Financial Highest result since 2018net €37k ▲226%

Operating result €88k, net result €37k, both a record.

09-11

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 101 days late

2019

31-12

Financial Back to profitnet €11k

Net result €11k after one loss-making year.

03-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 64 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 29 days late

2017

26-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

30-06

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

17-11-2025 De Groene Alp: Resigned as Director

03-10-2022 De Groene Alp BV: Resigned as Director

03-10-2022 Soroa BV: Resigned as Director

Location & real-estate footprint

Registered office, Brugge · 1 establishment unit since 2003

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Baron Ruzettelaan 38310 Brugge

Ground area

6,856 m²

Building footprint