STUDIO THE FLOW
ActiveSummary
STUDIO THE FLOW has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €120,599 and a net result of €59,705. Equity is growing by ~47.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 2366 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+9
Solvency37▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity tight (current ratio 1.33 against 0.89 in 2024; short-term debt: 8.5% and cash: 10.5% of total assets), and 87.7% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% 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
12.3%
Return on assets
6.1%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
31 d late
2023
7 d early
2022
24 d late
2021
23 d late
2020
47 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 24 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€120,599▲ 77.6%
2024 · €67,894
Total assets
€984,253▲ 1.3%
2024 · €971,422
Net result
€59,705
2024 · -€10,314
Working capital
€27,387
2024 · -€7,872
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€29,429▲ 103%€19,468▼ 33.8%€45,299▲ 133%-€1,614€98,399
Net result€25,714above the sector's middle half▲ 150%€14,690within the sector's middle half▼ 42.9%€33,703above the sector's middle half▲ 129%-€10,314below the sector's middle half€59,705above the sector's middle half
Equity€29,815within the sector's middle half▲ 627%€44,505within the sector's middle half▲ 49.3%€78,208within the sector's middle half▲ 75.7%€67,894within the sector's middle half▼ 13.2%€120,599above the sector's middle half▲ 77.6%
Total assets€255,309within the sector's middle half▼ 6.1%€226,455within the sector's middle half▼ 11.3%€318,785within the sector's middle half▲ 40.8%€971,422above the sector's middle half▲ 205%€984,253above the sector's middle half▲ 1.3%
Debt€225,494▼ 15.8%€181,950▼ 19.3%€240,577▲ 32.2%€903,529▲ 276%€863,654▼ 4.4%
Working capital-€27,404within the sector's middle half▲ 67.7%-€42,831within the sector's middle half▼ 56.3%€13,870within the sector's middle half-€7,872within the sector's middle half€27,387within the sector's middle half
Solvency11.7%within the sector's middle half▲ 10.2pp19.7%within the sector's middle half▲ 8.0pp24.5%within the sector's middle half▲ 4.9pp7.0%within the sector's middle half▼ 17.5pp12.3%within the sector's middle half▲ 5.3pp
Current ratio0.80within the sector's middle half▲ 0.240.56within the sector's middle half▼ 0.241.17within the sector's middle half▲ 0.610.89within the sector's middle half▼ 0.271.33within the sector's middle half▲ 0.43
Return on assets (ROA)10.1%within the sector's middle half▲ 6.3pp6.5%within the sector's middle half▼ 3.6pp10.6%within the sector's middle half▲ 4.1pp-1.1%within the sector's middle half▼ 11.6pp6.1%within the sector's middle half▲ 7.1pp
Staff (FTE)0.51▲ 100%1=
above
within
below
the middle half (P25 to P75) of NACE 93, Sports, amusement and recreation 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 2025: €98,399 after a loss of €1,614 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €984,253
Fixed assets
€872,898 ▼ 3.5%
Current assets
€111,355 ▲ 67.6%
Equity and liabilities €984,253
Equity
€120,599 ▲ 77.6%
Debt
€863,654 ▼ 4.4%
Debt's share of the balance-sheet total falls from 93.0% to 87.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€187,405▲
2024 · €142,853
Cash flow
€148,710▲
2024 · €134,153
Quick ratio
1.30▲
2024 · 0.85
Debt to equity
7.16▼
2024 · 13.31
ROE
49.5%▲
2024 · -15.2%
Interest coverage
7.71▼
2024 · 17.12
Debt ≤ 1 year
€83,967▲
2024 · €74,329
Debt > 1 year
€772,531▼
2024 · €826,915
Income taxes
€15,803▲
2024 · €319
Staff costs
€12,246▼
2024 · €13,960
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,053 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
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.4%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 5,053 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €100 | €1,649 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €6,831 | €13,960 | €12,246 | ▼ 12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,093 | €28,089 | €31,964 | €144,467 | €89,005 | ▼ 38.4% |
| Other operating charges640/8 | €2,461 | €2,191 | €2,597 | €3,410 | €6,299 | ▲ 84.7% |
| Non-recurring operating charges66A | - | - | - | €293 | €737 | ▲ 152% |
| Gross operating margin9900 | €56,983 | €49,748 | €86,691 | €160,516 | €206,687 | ▲ 28.8% |
| Operating profit (loss)9901 | €29,429 | €19,468 | €45,299 | -€1,614 | €98,399 | ▲ 6,197% |
| Financial income75/76B | €6 | €23 | €61 | €0 | €1,547 | ▲ 3,094,300% |
| Recurring financial income75 | €6 | €23 | €61 | €0 | €61 | ▲ 121,940% |
| Non-recurring financial income76B | - | - | - | - | €1,486 | - |
| Financial charges65/66B | €3,463 | €3,069 | €4,091 | €8,381 | €24,438 | ▲ 192% |
| Recurring financial charges65 | €3,463 | €3,069 | €4,091 | €8,343 | €24,305 | ▲ 191% |
| Non-recurring financial charges66B | - | - | - | €39 | €134 | ▲ 245% |
| Profit (loss) for the period before taxes9903 | €25,972 | €16,422 | €41,269 | -€9,995 | €75,508 | ▲ 855% |
| Income taxes67/77 | €258 | €1,731 | €7,566 | €319 | €15,803 | ▲ 4,853% |
| Profit (loss) for the period9904 | €25,714 | €14,690 | €33,703 | -€10,314 | €59,705 | ▲ 679% |
| Profit (loss) for the period to be appropriated9905 | €25,714 | €14,690 | €33,703 | -€10,314 | €59,705 | ▲ 679% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €255,309 | €226,455 | €318,785 | €971,422 | €984,253 | ▲ 1.3% |
| Fixed assets21/28 | €148,668 | €172,730 | €220,868 | €904,965 | €872,898 | ▼ 3.5% |
| Intangible fixed assets21 | €6,638 | €5,238 | €3,838 | €2,450 | €1,125 | ▼ 54.1% |
| Tangible fixed assets22/27 | €142,030 | €167,492 | €217,031 | €902,515 | €871,773 | ▼ 3.4% |
| Land and buildings22 | - | - | - | €654,367 | €631,267 | ▼ 3.5% |
| Plant, machinery and equipment23 | €129,153 | €117,880 | €173,895 | €206,310 | €205,121 | ▼ 0.6% |
| Furniture and vehicles24 | €7,116 | €9,041 | €7,159 | €10,222 | €6,960 | ▼ 31.9% |
| Other tangible fixed assets26 | €5,762 | €40,571 | €35,977 | €31,616 | €28,425 | ▼ 10.1% |
| Current assets29/58 | €106,641 | €53,725 | €97,917 | €66,457 | €111,355 | ▲ 67.6% |
| Stocks and contracts in progress3 | €4,919 | €4,189 | €2,595 | €3,386 | €2,481 | ▼ 26.7% |
| Stocks30/36 | €4,919 | €4,189 | €2,595 | €3,386 | €2,481 | ▼ 26.7% |
| Amounts receivable within one year40/41 | €3,503 | €1,276 | €3,890 | €6,335 | €4,819 | ▼ 23.9% |
| Trade receivables40 | €3,503 | €1,276 | €1,573 | €839 | €2,138 | ▲ 155% |
| Other amounts receivable41 | - | - | €2,317 | €5,496 | €2,681 | ▼ 51.2% |
| Cash at bank and in hand54/58 | €31,829 | €10,769 | €86,097 | €56,155 | €103,019 | ▲ 83.5% |
| Deferred charges and accrued income490/1 | €66,390 | €37,491 | €5,334 | €581 | €1,035 | ▲ 78.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €255,309 | €226,455 | €318,785 | €971,422 | €984,253 | ▲ 1.3% |
| Equity10/15 | €29,815 | €44,505 | €78,208 | €67,894 | €120,599 | ▲ 77.6% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €17,415 | €32,105 | €65,808 | €55,494 | €108,199 | ▲ 95.0% |
| Non-distributable reserves130/1 | €10 | €10 | - | - | - | - |
| Reserves not available under the articles1311 | €10 | €10 | - | - | - | - |
| Distributable reserves133 | €17,405 | €32,095 | €65,808 | €55,494 | €108,199 | ▲ 95.0% |
| Amounts payable17/49 | €225,494 | €181,950 | €240,577 | €903,529 | €863,654 | ▼ 4.4% |
| Amounts payable after more than one year17 | €89,077 | €83,000 | €151,933 | €826,915 | €772,531 | ▼ 6.6% |
| Financial debts170/4 | €6,077 | - | €34,652 | €614,634 | €568,176 | ▼ 7.6% |
| Other amounts payable178/9 | €83,000 | €83,000 | €117,281 | €212,282 | €204,355 | ▼ 3.7% |
| Amounts payable within one year42/48 | €134,045 | €96,556 | €84,047 | €74,329 | €83,967 | ▲ 13.0% |
| Current portion of amounts payable after more than one year42 | €14,701 | €6,077 | €11,532 | €44,704 | €46,458 | ▲ 3.9% |
| Trade debts44 | €72,110 | €41,897 | €61,796 | €25,062 | €16,568 | ▼ 33.9% |
| Suppliers440/4 | €72,110 | €41,897 | €61,796 | €25,062 | €16,568 | ▼ 33.9% |
| Taxes, remuneration and social security45 | €8,041 | €4,908 | €10,718 | €4,563 | €13,942 | ▲ 206% |
| Taxes450/3 | €4,144 | €2,942 | €5,066 | - | €11,007 | - |
| Remuneration and social security454/9 | €3,897 | €1,966 | €5,652 | €4,563 | €2,935 | ▼ 35.7% |
| Other amounts payable47/48 | €39,193 | €43,673 | - | - | €7,000 | - |
| Accrued charges and deferred income492/3 | €2,372 | €2,394 | €4,598 | €2,285 | €7,156 | ▲ 213% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,714 | €14,690 | €33,703 | -€10,314 | €59,705 | ▲ 679% |
| + Depreciation and write-downs630 | €25,093 | €28,089 | €31,964 | €144,467 | €89,005 | ▼ 38.4% |
| Operating cash flow (approximation) | €50,807 | €42,779 | €65,667 | €134,153 | €148,710 | ▲ 10.9% |
| Investment in fixed assets (approximation) | - | -€52,151 | -€80,103 | -€828,564 | -€56,938 | ▲ 93.1% |
| Change in cash | - | -€21,061 | €75,329 | -€29,942 | €46,865 | ▲ 257% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-12
Financial
Back to profitnet €59,705
Net result €59,705 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €120,599 ▲77.6%
Equity rises from €67,894 to €120,599.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 1.17
Current ratio from 0.56 to 1.17; short-term debt falls from €96,556 to €84,047.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €2,741
Net result €2,741 after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Oudenaarde · 1 establishment unit since 2014
Ground area
2,492 m²
Building footprint
759 m²
Volume, LiDAR
2,646 m³
Parcel 45035A0234/02C002, Flanders · tallest building 4.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
THE FLOW FITNESS
since 20142.236.817.624
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45035A0234/02C002 | Flanders | 2,492 m² | 1 · 759 m² | 4.2 m · 1 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.
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 740 EUR awarded · 740 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 419 EUR | 419 EUR |
| 2024 | 1 | 321 EUR | 321 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteOudenaarde2.236.817.624
Similar companies · same sector, comparable size
The Healthy Club
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Fitness Liedekerke
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ALL INE WORKOUTS
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Pulse Studio
BE 1015.083.422
Oud-Heverlee · Eq €121,601
Military Sport Academy
BE 0505.608.936
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Of 1,520 companies in this sector we hold annual accounts for 690. 526 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded13-11-2014
Fiscal year end31-12
Activities, NACEBEL 2025
93130Fitness centres
93199Other sports activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0567781580
Also
9925:BE0567781580
Registered
30-10-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.