Studio Shaped
ActiveSummary
Studio Shaped has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €29,412 and a net result of €3,695. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 30% of 8969 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▲+72
Solvency55▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.12 against 0.97 in 2023; short-term debt: 33.2% and cash: 15.3% of total assets), and 70.3% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · 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 2024Solvency, return and age of the figures
Solvency
29.7%
Return on assets
3.7%
Age of the figures
21 mo
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 29-07-2025, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
2 d early
2023
2 d early
2022
on the day
2021
57 d late
2020
31 d late
2019
87 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 29 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€29,412▲ 14.4%
2023 · €25,717
Total assets
€98,871▲ 4.0%
2023 · €95,104
Net result
€3,695
2023 · -€13,710
Working capital
€3,861
2023 · -€874
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, 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€15,202€18,464▲ 21.5%€5,803▼ 68.6%-€13,059€5,425
Net result€12,857within the sector's middle half€14,449within the sector's middle half▲ 12.4%€3,871within the sector's middle half▼ 73.2%-€13,710below the sector's middle half€3,695within the sector's middle half
Equity€21,107within the sector's middle half▲ 156%€35,556within the sector's middle half▲ 68.5%€39,427within the sector's middle half▲ 10.9%€25,717within the sector's middle half▼ 34.8%€29,412within the sector's middle half▲ 14.4%
Total assets€39,675below the sector's middle half▲ 104%€49,123below the sector's middle half▲ 23.8%€54,263below the sector's middle half▲ 10.5%€95,104within the sector's middle half▲ 75.3%€98,871within the sector's middle half▲ 4.0%
Debt€18,567▲ 65.6%€13,567▼ 26.9%€14,835▲ 9.4%€69,387▲ 368%€69,459▲ 0.1%
Working capital€12,872within the sector's middle half▲ 414%€30,289within the sector's middle half▲ 135%€34,978within the sector's middle half▲ 15.5%-€874below the sector's middle half€3,861within the sector's middle half
Solvency53.2%within the sector's middle half▲ 10.8pp72.4%within the sector's middle half▲ 19.2pp72.7%within the sector's middle half▲ 0.3pp27.0%within the sector's middle half▼ 45.6pp29.7%within the sector's middle half▲ 2.7pp
Current ratio1.69within the sector's middle half▲ 0.463.24within the sector's middle half▲ 1.543.36within the sector's middle half▲ 0.120.97below the sector's middle half▼ 2.391.12within the sector's middle half▲ 0.15
Return on assets (ROA)32.4%above the sector's middle half▲ 61.5pp29.4%above the sector's middle half▼ 3.0pp7.1%within the sector's middle half▼ 22.3pp-14.4%below the sector's middle half▼ 21.6pp3.7%within the sector's middle half▲ 18.2pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, 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 returns to profit in 2024: €5,425 after a loss of €13,059 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €98,871
Fixed assets
€62,158 ▼ 9.0%
Current assets
€36,713 ▲ 36.9%
Equity and liabilities €98,871
Equity
€29,412 ▲ 14.4%
Debt
€69,459 ▲ 0.1%
Debt's share of the balance-sheet total falls from 73.0% to 70.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€21,953▲
2023 · -€3,831
Cash flow
€20,224▲
2023 · -€4,482
Debt to equity
2.36▼
2023 · 2.70
ROE
12.6%▲
2023 · -53.3%
Interest coverage
19.61▲
2023 · -7.28
Debt ≤ 1 year
€32,852▲
2023 · €27,682
Debt > 1 year
€30,243▼
2023 · €41,542
Income taxes
€613▲
2023 · €126
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,273 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 3,273 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,196 | €2,951 | €2,078 | €9,229 | €16,529 | ▲ 79.1% |
| Other operating charges640/8 | - | €468 | €469 | €1,061 | €514 | ▼ 51.5% |
| Non-recurring operating charges66A | - | - | - | - | €1,551 | - |
| Gross operating margin9900 | €22,265 | €21,883 | €8,350 | -€2,770 | €24,018 | ▲ 967% |
| Operating profit (loss)9901 | €15,202 | €18,464 | €5,803 | -€13,059 | €5,425 | ▲ 142% |
| Financial income75/76B | - | - | €0 | €1 | €3 | ▲ 215% |
| Recurring financial income75 | - | - | €0 | €1 | €3 | ▲ 215% |
| Financial charges65/66B | - | €93 | €116 | €526 | €1,120 | ▲ 113% |
| Recurring financial charges65 | €128 | €93 | €116 | €526 | €1,120 | ▲ 113% |
| Profit (loss) for the period before taxes9903 | €15,074 | €18,372 | €5,687 | -€13,585 | €4,308 | ▲ 132% |
| Income taxes67/77 | €2,217 | €3,923 | €1,816 | €126 | €613 | ▲ 388% |
| Profit (loss) for the period9904 | €12,857 | €14,449 | €3,871 | -€13,710 | €3,695 | ▲ 127% |
| Profit (loss) for the period to be appropriated9905 | €12,857 | €14,449 | €3,871 | -€13,710 | €3,695 | ▲ 127% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,675 | €49,123 | €54,263 | €95,104 | €98,871 | ▲ 4.0% |
| Fixed assets21/28 | €8,236 | €5,285 | €4,449 | €68,296 | €62,158 | ▼ 9.0% |
| Tangible fixed assets22/27 | €8,236 | €5,285 | €4,449 | €68,296 | €62,158 | ▼ 9.0% |
| Furniture and vehicles24 | - | €5,285 | €4,449 | €68,296 | €62,158 | ▼ 9.0% |
| Current assets29/58 | €31,439 | €43,838 | €49,813 | €26,808 | €36,713 | ▲ 36.9% |
| Amounts receivable within one year40/41 | €8,907 | €14,933 | €19,934 | €14,574 | €19,110 | ▲ 31.1% |
| Trade receivables40 | - | €13,155 | €14,913 | €10,688 | €17,267 | ▲ 61.6% |
| Other amounts receivable41 | - | €1,778 | €5,021 | €3,887 | €1,843 | ▼ 52.6% |
| Cash at bank and in hand54/58 | €22,285 | €28,780 | €29,629 | €9,703 | €15,092 | ▲ 55.5% |
| Deferred charges and accrued income490/1 | - | €125 | €250 | €2,531 | €2,511 | ▼ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,675 | €49,123 | €54,263 | €95,104 | €98,871 | ▲ 4.0% |
| Equity10/15 | €21,107 | €35,556 | €39,427 | €25,717 | €29,412 | ▲ 14.4% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €735 | €735 | €4,535 | €4,535 | €8,225 | ▲ 81.4% |
| Non-distributable reserves130/1 | - | €735 | €735 | - | - | - |
| Reserves not available under the articles1311 | - | €735 | €735 | - | - | - |
| Distributable reserves133 | - | - | €3,800 | €4,535 | €8,225 | ▲ 81.4% |
| Profit (loss) carried forward14 | €7,972 | €22,421 | €22,492 | €8,782 | €8,787 | ▲ 0.1% |
| Amounts payable17/49 | €18,567 | €13,567 | €14,835 | €69,387 | €69,459 | ▲ 0.1% |
| Amounts payable after more than one year17 | - | - | - | €41,542 | €30,243 | ▼ 27.2% |
| Financial debts170/4 | - | - | - | €41,542 | €30,243 | ▼ 27.2% |
| Amounts payable within one year42/48 | €18,567 | €13,549 | €14,835 | €27,682 | €32,852 | ▲ 18.7% |
| Current portion of amounts payable after more than one year42 | - | €7,814 | €6,931 | €13,325 | €11,300 | ▼ 15.2% |
| Financial debts43 | - | €314 | €3,176 | €2,171 | €4,657 | ▲ 114% |
| Credit institutions430/8 | - | €314 | €3,176 | €2,171 | €4,657 | ▲ 114% |
| Trade debts44 | €2,935 | €65 | €65 | €523 | €2,049 | ▲ 292% |
| Suppliers440/4 | - | €65 | €65 | €523 | €2,049 | ▲ 292% |
| Taxes, remuneration and social security45 | - | €4,313 | €4,663 | €7,283 | €10,144 | ▲ 39.3% |
| Taxes450/3 | - | €4,313 | €4,663 | €7,283 | €10,144 | ▲ 39.3% |
| Other amounts payable47/48 | - | €1,043 | - | €4,380 | €4,702 | ▲ 7.4% |
| Accrued charges and deferred income492/3 | - | €17 | - | €163 | €6,364 | ▲ 3,814% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,857 | €14,449 | €3,871 | -€13,710 | €3,695 | ▲ 127% |
| + Depreciation and write-downs630 | €4,196 | €2,951 | €2,078 | €9,229 | €16,529 | ▲ 79.1% |
| Operating cash flow (approximation) | €17,053 | €17,400 | €5,949 | -€4,482 | €20,224 | ▲ 551% |
| Investment in fixed assets (approximation) | - | €0 | -€1,242 | -€73,075 | -€10,391 | ▲ 85.8% |
| Change in cash | - | €6,495 | €849 | -€19,926 | €5,388 | ▲ 127% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3,695
Net result €3,695 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€13,710
Net result drops to -€13,710, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 57 days late
2021
31-12
Financial
Highest result since 2018net €14,449 ▲12.4%
Operating result €18,464, net result €14,449, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €12,857
Net result €12,857 after one loss-making year.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
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, Gent · 1 establishment unit since 2016
Ground area
7,675 m²
Building footprint
6,191 m²
Volume, LiDAR
14,683 m³
Parcel 44810K0568/00C000, Flanders · tallest building 13.4 m. Linked by address, not a title deed.
1 establishment unit
Studio Shaped
since 20162.260.003.295
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44810K0568/00C000 | Flanders | 7,675 m² | 1 · 6,191 m² | 13.4 m |
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 9,864 companies in sector 73110 we hold annual accounts for 3,758. 2,816 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
Founded20-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
63100Computing infrastructure, data processing, hosting and related activities
63910Web portal activities
73120Media representation
73200Market research and public opinion polling
74120Graphic design and visual communication
E-invoicing
Reachable via Peppol
Peppol ID
0208:0667879147
Also
9925:BE0667879147
Registered
02-07-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.