Studio Frank
ActiveSummary
Studio Frank has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €227,648 and a net result of €105,576. Equity is growing by ~50.4% per year across the filed fiscal years. Its solvency ranks better than 43% of 15872 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability86▲+2
Solvency56▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.27 in 2023; short-term debt: 61.5% and cash: 15.6% of total assets), and 69.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
37 d early
2022
160 d early
2021
41 d early
2020
40 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 63 days before 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€227,648▲ 49.7%
2023 · €152,072
Total assets
€744,675▲ 24.8%
2023 · €596,639
Net result
€105,576▲ 41.8%
2023 · €74,457
Working capital
€104,397▼ 11.8%
2023 · €118,300
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
Line20202021202220232024
Operating result€59,364-€13,365▼ 77.5%€49,368▲ 269%€91,901▲ 86.2%€135,185▲ 47.1%
Net result€43,883above the sector's middle half-€7,983within the sector's middle half▼ 81.8%€39,331above the sector's middle half▲ 393%€74,457above the sector's middle half▲ 89.3%€105,576above the sector's middle half▲ 41.8%
Equity€52,902within the sector's middle half-€59,284within the sector's middle half▲ 12.1%€89,616within the sector's middle half▲ 51.2%€152,072within the sector's middle half▲ 69.7%€227,648above the sector's middle half▲ 49.7%
Total assets€284,848within the sector's middle half-€334,769within the sector's middle half▲ 17.5%€480,597above the sector's middle half▲ 43.6%€596,639above the sector's middle half▲ 24.1%€744,675above the sector's middle half▲ 24.8%
Debt€231,946-€275,484▲ 18.8%€390,981▲ 41.9%€444,567▲ 13.7%€517,027▲ 16.3%
Working capital€27,645within the sector's middle half-€26,940within the sector's middle half▼ 2.5%€58,024within the sector's middle half▲ 115%€118,300above the sector's middle half▲ 104%€104,397within the sector's middle half▼ 11.8%
Solvency18.6%within the sector's middle half-17.7%within the sector's middle half▼ 0.9pp18.6%within the sector's middle half▲ 0.9pp25.5%within the sector's middle half▲ 6.8pp30.6%within the sector's middle half▲ 5.1pp
Current ratio1.12within the sector's middle half-1.10within the sector's middle half▼ 0.021.15within the sector's middle half▲ 0.051.27within the sector's middle half▲ 0.121.23within the sector's middle half▼ 0.04
Return on assets (ROA)15.4%above the sector's middle half-2.4%within the sector's middle half▼ 13.0pp8.2%within the sector's middle half▲ 5.8pp12.5%within the sector's middle half▲ 4.3pp14.2%above the sector's middle half▲ 1.7pp
Staff (FTE)0.40.3▼ 25.0%1▲ 233%2.5▲ 150%
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 47% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €744,675
Fixed assets
€182,651 ▲ 425%
Current assets
€562,025 =
Equity and liabilities €744,675
Equity
€227,648 ▲ 49.7%
Debt
€517,027 ▲ 16.3%
Debt's share of the balance-sheet total falls from 74.5% to 69.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€166,010▲
2023 · €102,363
Cash flow
€136,401▲
2023 · €84,918
Quick ratio
1.13▲
2023 · 1.11
Debt to equity
2.27▼
2023 · 2.92
ROE
46.4%▼
2023 · 49.0%
Interest coverage
66.17▼
2023 · 191.38
Debt ≤ 1 year
€457,627▲
2023 · €443,562
Debt > 1 year
€58,597
Income taxes
€42,805▲
2023 · €30,290
Staff costs
€98,025▲
2023 · €27,559
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 26,970 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €248 | - | - |
| Remuneration, social security and pensions62 | - | €13,738 | €6,936 | €27,559 | €98,025 | ▲ 256% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,549 | €11,015 | €14,722 | €10,461 | €30,825 | ▲ 195% |
| Other operating charges640/8 | - | €1,974 | €2,020 | €2,125 | €3,679 | ▲ 73.1% |
| Gross operating margin9900 | €78,069 | €40,091 | €73,046 | €132,047 | €267,715 | ▲ 103% |
| Operating profit (loss)9901 | €59,364 | €13,365 | €49,368 | €91,901 | €135,185 | ▲ 47.1% |
| Financial income75/76B | - | €334 | €7,118 | €13,380 | €15,705 | ▲ 17.4% |
| Recurring financial income75 | €1,636 | €334 | €7,118 | €13,380 | €15,705 | ▲ 17.4% |
| Financial charges65/66B | - | €304 | €363 | €535 | €2,509 | ▲ 369% |
| Recurring financial charges65 | €599 | €304 | €363 | €535 | €2,509 | ▲ 369% |
| Profit (loss) for the period before taxes9903 | €60,400 | €13,395 | €56,124 | €104,747 | €148,381 | ▲ 41.7% |
| Income taxes67/77 | €16,517 | €5,412 | €16,793 | €30,290 | €42,805 | ▲ 41.3% |
| Profit (loss) for the period9904 | €43,883 | €7,983 | €39,331 | €74,457 | €105,576 | ▲ 41.8% |
| Profit (loss) for the period to be appropriated9905 | €43,883 | €7,983 | €39,331 | €74,457 | €105,576 | ▲ 41.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €284,848 | €334,769 | €480,597 | €596,639 | €744,675 | ▲ 24.8% |
| Fixed assets21/28 | €31,845 | €35,595 | €33,015 | €34,777 | €182,651 | ▲ 425% |
| Tangible fixed assets22/27 | €21,495 | €25,245 | €22,515 | €22,677 | €170,274 | ▲ 651% |
| Plant, machinery and equipment23 | - | €10,662 | €13,684 | €9,714 | €57,124 | ▲ 488% |
| Furniture and vehicles24 | - | €14,583 | €8,831 | €12,963 | €113,150 | ▲ 773% |
| Financial fixed assets28 | €10,350 | €10,350 | €10,500 | €12,100 | €12,376 | ▲ 2.3% |
| Current assets29/58 | €253,003 | €299,174 | €447,582 | €561,862 | €562,025 | = |
| Amounts receivable after more than one year29 | - | €2,565 | €2,565 | €2,565 | €2,565 | = |
| Trade receivables290 | - | €2,565 | €2,565 | €2,565 | €2,565 | = |
| Stocks and contracts in progress3 | €23,433 | €56,735 | €76,698 | €71,062 | €44,859 | ▼ 36.9% |
| Stocks30/36 | - | €36,914 | €76,698 | €71,062 | €44,859 | ▼ 36.9% |
| Contracts in progress37 | - | €19,821 | - | - | - | - |
| Amounts receivable within one year40/41 | €162,366 | €141,444 | €280,674 | €328,818 | €380,172 | ▲ 15.6% |
| Trade receivables40 | - | €135,590 | €279,834 | €312,549 | €379,122 | ▲ 21.3% |
| Other amounts receivable41 | - | €5,854 | €841 | €16,269 | €1,050 | ▼ 93.5% |
| Current investments50/53 | - | - | - | €85,000 | €5,550 | ▼ 93.5% |
| Cash at bank and in hand54/58 | €64,073 | €87,045 | €80,479 | €65,498 | €115,867 | ▲ 76.9% |
| Deferred charges and accrued income490/1 | - | €11,384 | €7,165 | €8,919 | €13,012 | ▲ 45.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €284,848 | €334,769 | €480,597 | €596,639 | €744,675 | ▲ 24.8% |
| Equity10/15 | €52,902 | €59,284 | €89,616 | €152,072 | €227,648 | ▲ 49.7% |
| Contributions10/11 | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €51,902 | €58,284 | €88,616 | €151,072 | €226,648 | ▲ 50.0% |
| Distributable reserves133 | - | €58,284 | €88,616 | €151,072 | €226,648 | ▲ 50.0% |
| Profit (loss) carried forward14 | -€20,349 | - | - | - | - | - |
| Amounts payable17/49 | €231,946 | €275,484 | €390,981 | €444,567 | €517,027 | ▲ 16.3% |
| Amounts payable after more than one year17 | €5,788 | €2,451 | €624 | - | €58,597 | - |
| Financial debts170/4 | - | €2,451 | €624 | - | €58,597 | - |
| Amounts payable within one year42/48 | €225,358 | €272,234 | €389,558 | €443,562 | €457,627 | ▲ 3.2% |
| Current portion of amounts payable after more than one year42 | - | €1,761 | €1,827 | €624 | €19,230 | ▲ 2,982% |
| Financial debts43 | - | - | - | - | €1,000 | - |
| Credit institutions430/8 | - | - | - | - | €1,000 | - |
| Trade debts44 | €40,344 | €43,393 | €19,896 | €74,425 | €51,422 | ▼ 30.9% |
| Suppliers440/4 | - | €43,393 | €19,896 | €74,425 | €51,422 | ▼ 30.9% |
| Advances received on contracts in progress46 | - | €204,609 | €305,106 | €322,662 | €300,745 | ▼ 6.8% |
| Taxes, remuneration and social security45 | - | €16,127 | €21,000 | €31,451 | €45,672 | ▲ 45.2% |
| Taxes450/3 | - | €16,127 | €20,987 | €27,934 | €33,365 | ▲ 19.4% |
| Remuneration and social security454/9 | - | - | €13 | €3,517 | €12,307 | ▲ 250% |
| Other amounts payable47/48 | - | €6,344 | €41,728 | €14,400 | €39,558 | ▲ 175% |
| Accrued charges and deferred income492/3 | - | €800 | €800 | €1,005 | €802 | ▼ 20.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,883 | €7,983 | €39,331 | €74,457 | €105,576 | ▲ 41.8% |
| + Depreciation and write-downs630 | €15,549 | €11,015 | €14,722 | €10,461 | €30,825 | ▲ 195% |
| Operating cash flow (approximation) | €59,432 | €18,998 | €54,053 | €84,918 | €136,401 | ▲ 60.6% |
| Investment in fixed assets (approximation) | - | -€14,764 | -€12,142 | -€12,223 | -€178,699 | ▼ 1,362% |
| Change in cash | - | €22,972 | -€6,566 | -€14,981 | €50,368 | ▲ 436% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €105,576 ▲41.8%
Operating result €135,185, net result €105,576, both a record.
31-12
Financial
Equity above €200,000Eq €227,648 ▲49.7%
5 profitable years in a row build equity to €227,648.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €152,072 ▲69.7%
4 profitable years in a row build equity to €152,072.
21-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €7,983 ▼81.8%
Net result drops to €7,983, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Hasselt · 2 establishment units since 2017
Ground area
3,857 m²
Building footprint
1,119 m²
Volume, LiDAR
2,781 m³
2 parcels, Flanders · tallest building 15.3 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Studio Frank
since 20172.271.399.312
Studio Frank
since 20242.355.309.359
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71326F0070/00K007 | Flanders | 3,398 m² | 1 · 673 m² | 10.1 m |
| 36015A0363/02B008 | Flanders | 460 m² | 1 · 446 m² | 15.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 · 4 entries · 4,899 EUR awarded · 4,646 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 321 EUR | 2,236 EUR |
| 2024 | 1 | 2,473 EUR | 373 EUR |
| 2023 | 1 | 1,671 EUR | 1,603 EUR |
| 2022 | 1 | 434 EUR | 434 EUR |
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Of 505 companies in sector 46841 we hold annual accounts for 365. 253 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
Founded21-11-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46841Wholesale trade
47529Retail trade
46130Agents in the wholesale of timber and building materials
46150Agents in the wholesale of furniture, household goods and hardware
46831Wholesale of construction materials, general range
46832Wholesale of timber
46833Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666731379
Also
9925:BE0666731379
Registered
17-01-2026
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.