Studio Phi
ActiveSummary
Studio Phi has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €551,808 and a net result of €227,904. Equity is growing by ~87.1% per year across the filed fiscal years. Its solvency ranks better than 29% of 9557 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-15
Solvency56▲+7
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.19 in 2024; short-term debt: 40.2% and cash: 13.3% of total assets), and 69.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
30.6%
Return on assets
12.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-03-2026, 124 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
124 d early
2024
134 d early
2023
90 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 116 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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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 trust this company with building work?Contractor check 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 How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, micro schema
Equity
€551,808▲ 70.4%
2024 · €323,903
Total assets
€1.8m▲ 33.4%
2024 · €1.4m
Net result
€227,904▼ 32.2%
2024 · €336,094
Working capital
€219,221▲ 129%
2024 · €95,558
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Line202320242025
Operating result-€3,789-€468,721€342,848▼ 26.9%
Net result-€12,291below the sector's middle half-€336,094above the sector's middle half€227,904above the sector's middle half▼ 32.2%
Equity-€12,191below the sector's middle half-€323,903above the sector's middle half€551,808above the sector's middle half▲ 70.4%
Total assets€874,629above the sector's middle half-€1.4mabove the sector's middle half▲ 54.7%€1.8mabove the sector's middle half▲ 33.4%
Debt€886,820-€1.0m▲ 16.1%€1.3m▲ 21.8%
Working capital-€210,642below the sector's middle half-€95,558within the sector's middle half€219,221above the sector's middle half▲ 129%
Solvency-1.4%below the sector's middle half-23.9%below the sector's middle half▲ 25.3pp30.6%within the sector's middle half▲ 6.6pp
Current ratio0.37below the sector's middle half-1.19within the sector's middle half▲ 0.831.30within the sector's middle half▲ 0.11
Return on assets (ROA)-1.4%below the sector's middle half-24.8%within the sector's middle half▲ 26.2pp12.6%within the sector's middle half▼ 12.2pp
Staff (FTE)1.85.4▲ 200%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
The operating result falls in 2025; 2025 is 27% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€860,738 ▲ 12.8%
Current assets
€944,629 ▲ 60.0%
Equity and liabilities €1.8m
Equity
€551,808 ▲ 70.4%
Debt
€1.3m ▲ 21.8%
Debt's share of the balance-sheet total falls from 76.1% to 69.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€389,248▼
2024 · €526,787
Cash flow
€274,305▼
2024 · €394,161
Debt to equity
2.27▼
2024 · 3.18
ROE
41.3%▼
2024 · 103.8%
Interest coverage
10.27▼
2024 · 22.97
Debt ≤ 1 year
€725,408▲
2024 · €494,849
Debt > 1 year
€512,131▼
2024 · €533,437
Income taxes
€79,653▼
2024 · €109,695
Staff costs
€215,189▲
2024 · €61,796
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% 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 39,276 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €20,453 | €61,796 | €215,189 | ▲ 248% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,409 | €58,066 | €46,400 | ▼ 20.1% |
| Other operating charges640/8 | €3,763 | €6,705 | €2,333 | ▼ 65.2% |
| Non-recurring operating charges66A | €25,740 | - | - | - |
| Gross operating margin9900 | €80,576 | €595,288 | €606,770 | ▲ 1.9% |
| Operating profit (loss)9901 | -€3,789 | €468,721 | €342,848 | ▼ 26.9% |
| Financial income75/76B | €3 | €0 | €2,623 | ▲ 5,246,340% |
| Recurring financial income75 | €3 | €0 | €2,623 | ▲ 5,246,340% |
| Financial charges65/66B | €8,506 | €22,932 | €37,914 | ▲ 65.3% |
| Recurring financial charges65 | €8,506 | €22,932 | €37,914 | ▲ 65.3% |
| Profit (loss) for the period before taxes9903 | -€12,291 | €445,789 | €307,557 | ▼ 31.0% |
| Income taxes67/77 | - | €109,695 | €79,653 | ▼ 27.4% |
| Profit (loss) for the period9904 | -€12,291 | €336,094 | €227,904 | ▼ 32.2% |
| Profit (loss) for the period to be appropriated9905 | -€12,291 | €336,094 | €227,904 | ▼ 32.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €874,629 | €1.4m | €1.8m | ▲ 33.4% |
| Fixed assets21/28 | €752,369 | €762,747 | €860,738 | ▲ 12.8% |
| Tangible fixed assets22/27 | €752,369 | €748,732 | €841,166 | ▲ 12.3% |
| Land and buildings22 | €744,574 | €704,963 | €729,368 | ▲ 3.5% |
| Plant, machinery and equipment23 | - | - | €18,255 | - |
| Furniture and vehicles24 | €7,795 | €43,769 | €93,543 | ▲ 114% |
| Financial fixed assets28 | - | €14,015 | €19,572 | ▲ 39.7% |
| Current assets29/58 | €122,260 | €590,407 | €944,629 | ▲ 60.0% |
| Amounts receivable within one year40/41 | €99,761 | €289,555 | €698,775 | ▲ 141% |
| Trade receivables40 | €99,761 | €289,555 | €698,775 | ▲ 141% |
| Cash at bank and in hand54/58 | €22,499 | €286,293 | €239,673 | ▼ 16.3% |
| Deferred charges and accrued income490/1 | - | €14,559 | €6,180 | ▼ 57.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €874,629 | €1.4m | €1.8m | ▲ 33.4% |
| Equity10/15 | -€12,191 | €323,903 | €551,808 | ▲ 70.4% |
| Contributions10/11 | €100 | €100 | €100 | = |
| Reserves13 | - | €323,803 | €551,708 | ▲ 70.4% |
| Distributable reserves133 | - | €323,803 | €551,708 | ▲ 70.4% |
| Profit (loss) carried forward14 | -€12,291 | - | - | - |
| Amounts payable17/49 | €886,820 | €1.0m | €1.3m | ▲ 21.8% |
| Amounts payable after more than one year17 | €553,918 | €533,437 | €512,131 | ▼ 4.0% |
| Financial debts170/4 | €553,918 | €533,437 | €512,131 | ▼ 4.0% |
| Amounts payable within one year42/48 | €332,902 | €494,849 | €725,408 | ▲ 46.6% |
| Current portion of amounts payable after more than one year42 | €19,689 | €20,481 | €21,305 | ▲ 4.0% |
| Trade debts44 | €41,463 | €61,015 | €94,113 | ▲ 54.2% |
| Suppliers440/4 | €41,463 | €61,015 | €94,113 | ▲ 54.2% |
| Taxes, remuneration and social security45 | €23,286 | €161,987 | €340,451 | ▲ 110% |
| Taxes450/3 | €18,050 | €148,683 | €307,188 | ▲ 107% |
| Remuneration and social security454/9 | €5,236 | €13,303 | €33,263 | ▲ 150% |
| Other amounts payable47/48 | €248,464 | €251,366 | €269,538 | ▲ 7.2% |
| Accrued charges and deferred income492/3 | - | €965 | €16,019 | ▲ 1,560% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,291 | €336,094 | €227,904 | ▼ 32.2% |
| + Depreciation and write-downs630 | €34,409 | €58,066 | €46,400 | ▼ 20.1% |
| Operating cash flow (approximation) | €22,118 | €394,161 | €274,305 | ▼ 30.4% |
| Investment in fixed assets (approximation) | - | -€68,444 | -€144,391 | ▼ 111% |
| Change in cash | - | €263,794 | -€46,619 | ▼ 118% |
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
29-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €500,000Eq €551,808 ▲70.4%
2 profitable years in a row build equity to €551,808.
19-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €336,094
Net result €336,094 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.19
Current ratio from 0.37 to 1.19.
31-12
Financial
Equity above €200,000Eq €323,903
Equity rises from -€12,191 to €323,903.
02-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro 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, Leuven · 1 establishment unit since 2023
Ground area
702 m²
Building footprint
662 m²
Volume, LiDAR
8,620 m³
Parcel 24502C0501/00E002, Flanders · tallest building 17.5 m, ±5 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Studio Phi
since 20232.346.130.684
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24502C0501/00E002 | Flanders | 702 m² | 1 · 662 m² | 17.5 m · 5 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 18,250 companies in sector 71111 we hold annual accounts for 6,321. 3,862 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
Founded03-05-2023
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
31001Manufacture of furniture
41002Construction of residential and non-residential buildings
71112Activities of interior architects
85401Education
85699Other educational support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0801399449
Also
9925:BE0801399449
Registered
30-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.