STUDIO LOOK
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 20 days after the deadline Filed on 20 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00410044.
Annual accounts 2025 filed on 20-08-2026 at the NBB all 31 filings
Turnover
≈ €240,000
Estimated: probably between €180,000 and €280,000
Total assets
€219,102▼ 3.3%
2024 · €226,654
Net result
€2,661▼ 79.7%
2024 · €13,088
Working capital
-€5,522▲ 14.8%
2024 · -€6,479
In the rankings
#4 oldest company in Tubize, Other services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,089
▼ 33.9%
2025
20182025
Net result
€2,661
▼ 79.7%
2025
middle half of the sector
20182025
Equity
€36,855
▲ 7.8%
2025
middle half of the sector
20182025
Total assets
€219,102
▼ 3.3%
2025
highest quarter of the sector
20182025
Debt
€182,247
▼ 5.3%
2025
20182025
Working capital
-€5,522
▲ 14.8%
2025
middle half of the sector
20182025
Solvency
16.8%
▲ 1.7pp
2025
middle half of the sector
20182025
Current ratio
0.87
▲ 0.03
2025
middle half of the sector
20182025
Return on assets (ROA)
1.2%
▼ 4.6pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,839--€1,206€51-€16,430-€5,094▲ 69.0%-€5,428▼ 6.5%€15,264€10,089▼ 33.9%
Net result€7--€5,030-€3,986within the sector's middle half▲ 20.7%-€2,539within the sector's middle half▲ 36.3%-€7,657below the sector's middle half▼ 202%-€12,359below the sector's middle half▼ 61.4%€13,088within the sector's middle half€2,661within the sector's middle half▼ 79.7%
Equity€40,803-€35,773▼ 12.3%€31,787within the sector's middle half▼ 11.1%€29,247within the sector's middle half▼ 8.0%€21,590within the sector's middle half▼ 26.2%€9,231within the sector's middle half▼ 57.2%€34,194within the sector's middle half▲ 270%€36,855within the sector's middle half▲ 7.8%
Total assets€271,536-€258,337▼ 4.9%€244,601above the sector's middle half▼ 5.3%€235,001above the sector's middle half▼ 3.9%€235,315above the sector's middle half▲ 0.1%€228,093above the sector's middle half▼ 3.1%€226,654above the sector's middle half▼ 0.6%€219,102above the sector's middle half▼ 3.3%
Debt€230,733-€222,564▼ 3.5%€212,814▼ 4.4%€205,754▼ 3.3%€213,725▲ 3.9%€218,861▲ 2.4%€192,459▼ 12.1%€182,247▼ 5.3%
Working capital-€17,728--€3,326▲ 81.2%€6,549within the sector's middle half€7,450within the sector's middle half▲ 13.8%-€7,323within the sector's middle half-€30,180below the sector's middle half▼ 312%-€6,479within the sector's middle half▲ 78.5%-€5,522within the sector's middle half▲ 14.8%
Solvency15.0%-13.8%▼ 1.2pp13.0%within the sector's middle half▼ 0.9pp12.4%within the sector's middle half▼ 0.5pp9.2%within the sector's middle half▼ 3.3pp4.0%within the sector's middle half▼ 5.1pp15.1%within the sector's middle half▲ 11.0pp16.8%within the sector's middle half▲ 1.7pp
Current ratio0.49-0.87▲ 0.371.33within the sector's middle half▲ 0.471.29within the sector's middle half▼ 0.050.79within the sector's middle half▼ 0.500.44below the sector's middle half▼ 0.350.84within the sector's middle half▲ 0.400.87within the sector's middle half▲ 0.03
Return on assets (ROA)0.0%--1.9%▼ 1.9pp-1.6%within the sector's middle half▲ 0.3pp-1.1%within the sector's middle half▲ 0.5pp-3.3%within the sector's middle half▼ 2.2pp-5.4%within the sector's middle half▼ 2.2pp5.8%within the sector's middle half▲ 11.2pp1.2%within the sector's middle half▼ 4.6pp
Staff (FTE)3.2-2.2▼ 31.3%2.1within the sector's middle half▼ 4.5%2.8▲ 33.3%
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 34% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €219,102
Fixed assets
€180,526 ▼ 6.3%
Current assets
€38,576 ▲ 13.2%
Equity and liabilities €219,102
Equity
€36,855 ▲ 7.8%
Debt
€182,247 ▼ 5.3%
Debt's share of the balance-sheet total falls from 84.9% to 83.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29,932▼
2024 · €34,356
Cash flow
€22,503▼
2024 · €32,180
Quick ratio
0.24▼
2024 · 0.31
Debt to equity
4.94▼
2024 · 5.63
ROE
7.2%▼
2024 · 38.3%
Interest coverage
4.03▼
2024 · 4.07
Debt ≤ 1 year
€44,098▲
2024 · €40,556
Debt > 1 year
€138,149▼
2024 · €151,903
Staff costs
€104,852▼
2024 · €160,473
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 3 |
| part-time | 3 |
| in full-time equivalents | 2.1 |
| Average over the year, in full-time equivalents | 2 |
| On a permanent contract | 2 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €22,668 | €13,548 | €6,898 | €7,792 |
| Depreciation and write-downs of the year | €16,829 | €16,414 | €16,650 | €19,092 | €19,843 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €12,060 | €40,505 | €141,563 | €160,473 | €104,852 | ▼ 34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,582 | €19,046 | €18,404 | €16,829 | €16,414 | €16,650 | €19,092 | €19,843 | ▲ 3.9% |
| Other operating charges640/8 | - | - | - | €348 | €348 | €744 | €814 | €1,133 | ▲ 39.3% |
| Gross operating margin9900 | €72,702 | €65,346 | €40,124 | €12,807 | €52,172 | €153,530 | €195,643 | €135,918 | ▼ 30.5% |
| Operating profit (loss)9901 | €3,839 | -€1,206 | €51 | -€16,430 | -€5,094 | -€5,428 | €15,264 | €10,089 | ▼ 33.9% |
| Financial income75/76B | - | - | - | €18,086 | €2,479 | - | €6,530 | - | - |
| Recurring financial income75 | €3 | - | - | €18,086 | €2,479 | - | €6,530 | - | - |
| Non-recurring financial income76B | - | - | - | €18,086 | €2,479 | - | €6,530 | - | - |
| Financial charges65/66B | - | - | - | €3,975 | €4,608 | €6,931 | €8,448 | €7,429 | ▼ 12.1% |
| Recurring financial charges65 | €3,834 | €4,320 | €4,236 | €3,975 | €4,608 | €6,931 | €8,448 | €7,429 | ▼ 12.1% |
| Profit (loss) for the period before taxes9903 | €7 | -€4,773 | -€3,986 | -€2,318 | -€7,223 | -€12,359 | €13,346 | €2,661 | ▼ 80.1% |
| Income taxes67/77 | - | €257 | - | €221 | €434 | - | €258 | - | - |
| Profit (loss) for the period9904 | €7 | -€5,030 | -€3,986 | -€2,539 | -€7,657 | -€12,359 | €13,088 | €2,661 | ▼ 79.7% |
| Profit (loss) for the period to be appropriated9905 | €7 | -€5,030 | -€3,986 | -€2,539 | -€7,657 | -€12,359 | €13,088 | €2,661 | ▼ 79.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €271,536 | €258,337 | €244,601 | €235,001 | €235,315 | €228,093 | €226,654 | €219,102 | ▼ 3.3% |
| Fixed assets21/28 | €254,220 | €236,901 | €218,497 | €201,618 | €207,872 | €204,770 | €192,577 | €180,526 | ▼ 6.3% |
| Tangible fixed assets22/27 | €254,046 | €236,728 | €218,324 | €201,495 | €207,748 | €204,646 | €192,453 | €180,402 | ▼ 6.3% |
| Land and buildings22 | - | - | - | €199,012 | €186,574 | €174,136 | €161,698 | €149,259 | ▼ 7.7% |
| Plant, machinery and equipment23 | - | - | - | €1,141 | €18,345 | €17,148 | €20,479 | €20,572 | ▲ 0.5% |
| Furniture and vehicles24 | - | - | - | €1,341 | €2,830 | €13,363 | €10,276 | €10,570 | ▲ 2.9% |
| Financial fixed assets28 | €174 | €174 | €174 | €124 | €124 | €124 | €124 | €124 | = |
| Current assets29/58 | €17,316 | €21,436 | €26,104 | €33,383 | €27,443 | €23,322 | €34,077 | €38,576 | ▲ 13.2% |
| Stocks and contracts in progress3 | €10,430 | €9,179 | €10,480 | €10,430 | €12,446 | €16,571 | €21,558 | €28,137 | ▲ 30.5% |
| Stocks30/36 | - | - | - | €10,430 | €12,446 | €16,571 | €21,558 | €28,137 | ▲ 30.5% |
| Amounts receivable within one year40/41 | - | €4,118 | €4,570 | €6,817 | €7,275 | €303 | €2,823 | €5,184 | ▲ 83.6% |
| Trade receivables40 | - | - | - | €1,410 | - | €303 | €2,823 | €3,062 | ▲ 8.5% |
| Other amounts receivable41 | - | - | - | €5,407 | €7,275 | - | - | €2,122 | - |
| Cash at bank and in hand54/58 | €4,398 | €6,124 | €11,054 | €16,136 | €7,722 | €6,449 | €9,696 | €5,256 | ▼ 45.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €271,536 | €258,337 | €244,601 | €235,001 | €235,315 | €228,093 | €226,654 | €219,102 | ▼ 3.3% |
| Equity10/15 | €40,803 | €35,773 | €31,787 | €29,247 | €21,590 | €9,231 | €34,194 | €36,855 | ▲ 7.8% |
| Contributions10/11 | €31,000 | €31,000 | €31,000 | €31,000 | €31,000 | €31,000 | €31,000 | €31,000 | = |
| Capital10 | - | - | - | €31,000 | €31,000 | - | - | - | - |
| Issued capital100 | - | - | - | €31,000 | €31,000 | - | - | - | - |
| Reserves13 | €9,803 | €4,773 | €4,773 | €4,773 | €4,773 | €4,773 | €4,773 | €5,855 | ▲ 22.7% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €2,914 | €2,914 | €4,773 | €4,773 | €5,855 | ▲ 22.7% |
| Profit (loss) carried forward14 | - | - | -€3,986 | -€6,526 | -€14,183 | -€26,542 | -€1,579 | - | - |
| Amounts payable17/49 | €230,733 | €222,564 | €212,814 | €205,754 | €213,725 | €218,861 | €192,459 | €182,247 | ▼ 5.3% |
| Amounts payable after more than one year17 | €195,689 | €197,802 | €193,259 | €179,821 | €178,959 | €165,359 | €151,903 | €138,149 | ▼ 9.1% |
| Financial debts170/4 | - | - | - | €179,821 | €178,959 | €165,359 | €151,903 | €138,149 | ▼ 9.1% |
| Amounts payable within one year42/48 | €35,044 | €24,762 | €19,555 | €25,933 | €34,767 | €53,502 | €40,556 | €44,098 | ▲ 8.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,084 | €15,271 | €13,155 | €15,346 | €16,116 | ▲ 5.0% |
| Trade debts44 | €3,332 | €2,094 | €1,470 | €7,705 | €2,686 | €24,540 | €4,347 | €22,984 | ▲ 429% |
| Suppliers440/4 | - | - | - | €7,705 | €2,686 | €24,540 | €4,347 | €22,984 | ▲ 429% |
| Taxes, remuneration and social security45 | - | - | - | €2,144 | €16,809 | €15,641 | €20,862 | €4,998 | ▼ 76.0% |
| Taxes450/3 | - | - | - | €934 | €13,150 | €10,987 | €16,035 | €175 | ▼ 98.9% |
| Remuneration and social security454/9 | - | - | - | €1,210 | €3,659 | €4,654 | €4,827 | €4,823 | ▼ 0.1% |
| Other amounts payable47/48 | - | - | - | - | - | €166 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7 | -€5,030 | -€3,986 | -€2,539 | -€7,657 | -€12,359 | €13,088 | €2,661 | ▼ 79.7% |
| + Depreciation and write-downs630 | €20,582 | €19,046 | €18,404 | €16,829 | €16,414 | €16,650 | €19,092 | €19,843 | ▲ 3.9% |
| Operating cash flow (approximation) | €20,590 | €14,016 | €14,418 | €14,290 | €8,757 | €4,291 | €32,180 | €22,503 | ▼ 30.1% |
| Investment in fixed assets (approximation) | - | -€1,727 | €0 | €50 | -€22,668 | -€13,548 | -€6,898 | -€7,792 | ▼ 13.0% |
| Change in cash | - | €1,727 | €4,929 | €5,082 | -€8,414 | -€1,274 | €3,247 | -€4,440 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,984 companies had the same profile as STUDIO LOOK has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of STUDIO LOOK itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,984 companies, not a prediction for STUDIO LOOK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-08-2026 | 2026-00410044 | |
| 31-12-2024 | micro format | 20-08-2025 | 2025-00389803 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00248279 | |
| 31-12-2022 | micro format | 23-08-2023 | 2023-00344331 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20316518 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-44600121 | |
| 31-12-2019 | micro format | 14-08-2020 | 2020-41500482 | |
| 31-12-2018 | micro format | 07-08-2019 | 2019-44600101 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58900031 | |
| 31-12-2016 | micro format | 22-06-2017 | 2017-20300288 |