STUDIO TURQUOISE
ActiveSummary
STUDIO TURQUOISE has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €121k and a net result of €-47k. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 80% of 88 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability0=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 8.89 against 7.06 in 2025; short-term debt: 11.2% and cash: 93.1% of total assets), and 11.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 2026Solvency, return and age of the figures
Solvency
88.8%
Return on assets
-34.9%
Age of the figures
6 mo
raises risk · Persistent losses
Two consecutive loss-making years (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026Net result per financial year
1920212223242526
2019 to 2026 · latest year €-47k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 22-09-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
39 d early
2025
28 d early
2024
1 d early
2023
26 d early
2022
3 d late
2021
2 d late
2020
5 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Turnover
€8k
EBIT margin
-589.7%
Net result
€-47k▲ 13.2%
2025 · €-55k
2019: €29k
2020: €24k▼ -15.8% vs 2019
2021: €36k▲ +47.4% vs 2020highest in 8 years
2022: €22k▼ -38.0% vs 2021
2023: €22k▼ -0.5% vs 2022
2024: €11k▼ -49.5% vs 2023
2025: €-55k▼ -591% vs 2024lowest in 8 years
2026: €-47k▲ +13.2% vs 2025
2019 → 2026
Working capital
€120k▼ 28.6%
2025 · €168k
2019: €107klowest in 8 years
2020: €132k▲ +23.6% vs 2019
2021: €165k▲ +25.4% vs 2020
2022: €186k▲ +12.5% vs 2021
2023: €209k▲ +12.6% vs 2022
2024: €222k▲ +6.0% vs 2023highest in 8 years
2025: €168k▼ -24.3% vs 2024
2026: €120k▼ -28.6% vs 2025
2019 → 2026
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Turnover€8k
Equity€190k-€212k▲ 11.6%€223k▲ 5.3%€168k▼ 24.5%€121k▼ 28.2%
2022: €190k
2023: €212k▲ +11.6% vs 2022
2024: €223k▲ +5.3% vs 2023highest in 5 years
2025: €168k▼ -24.5% vs 2024
2026: €121k▼ -28.2% vs 2025lowest in 5 years
Operating result€29k-€32k▲ 9.2%€17k▼ 45.5%€-53k€-46k▲ 13.3%
2022: €29k
2023: €32k▲ +9.2% vs 2022highest in 5 years
2024: €17k▼ -45.5% vs 2023
2025: €-53k▼ -406% vs 2024lowest in 5 years
2026: €-46k▲ +13.3% vs 2025
Net result€22k-€22k▼ 0.5%€11k▼ 49.5%€-55k€-47k▲ 13.2%
2022: €22khighest in 5 years
2023: €22k▼ -0.5% vs 2022
2024: €11k▼ -49.5% vs 2023
2025: €-55k▼ -591% vs 2024lowest in 5 years
2026: €-47k▲ +13.2% vs 2025
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €46k in 2026 against €53k in 2025; the loss shrinks.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €136k
Fixed assets
€930 ▲ 151%
Current assets
€135k ▼ 30.9%
Equity and liabilities €136k
Equity
€121k ▼ 28.2%
Debt
€15k ▼ 45.1%
Debt's share of the balance-sheet total falls from 14.1% to 11.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-46k▲
2025 · €-53k
Cash flow
€-47k▲
2025 · €-54k
Current ratio
8.89▲
2025 · 7.06
Debt to equity
0.13▼
2025 · 0.16
ROE
-39.3%▼
2025 · -32.5%
ROA
-34.9%▼
2025 · -27.9%
Interest coverage
-24.89▼
2025 · -21.29
Debt ≤ 1 year
€15k▼
2025 · €28k
Income taxes
€152▼
2025 · €162
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2026 against 2025 · 45 lines
Balance sheet
Code20252026
Assets
Total assets20/58€196k€136k▼
Fixed assets21/28€370€930▲
Tangible fixed assets22/27-€410
Furniture and vehicles24-€410
Financial fixed assets28€370€520▲
Current assets29/58€196k€135k▼
Amounts receivable within one year40/41€12k€8k▼
Trade receivables40€11k€8k▼
Other amounts receivable41€703€91▼
Cash at bank and in hand54/58€183k€127k▼
Deferred charges and accrued income490/1€850€176▼
Equity and liabilities
Total equity and liabilities10/49€196k€136k▼
Equity10/15€168k€121k▼
Contributions10/11€19k€19k=
Reserves13€145k€95k▼
Non-distributable reserves130/1€2k€2k=
Other1319€2k€2k=
Distributable reserves133€143k€93k▼
Profit (loss) carried forward14€5k€7k▲
Amounts payable17/49€28k€15k▼
Amounts payable within one year42/48€28k€15k▼
Trade debts44€22k€755▼
Suppliers440/4€22k€755▼
Taxes, remuneration and social security45€2k€4k▲
Taxes450/3€2k€4k▲
Other amounts payable47/48€4k€11k▲
Income statement
Code20252026
Turnover70-€8k
Non-recurring operating income76A-€6k
Goods, raw materials, services and sundry goods60/61-€62k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€809€131▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-11k-
Other operating charges640/8€387€524▲
Gross operating margin9900€-63k€-46k▲
Operating profit (loss)9901€-53k€-46k▲
Financial income75/76B€1k€808▼
Recurring financial income75€1k€808▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€-55k€-47k▲
Income taxes67/77€162€152▼
Profit (loss) for the period9904€-55k€-47k▲
Profit (loss) for the period to be appropriated9905€-55k€-47k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-30k€-43k▼
Profit (loss) brought forward from the previous period14P€25k€5k▼
Transfer from equity791/2€35k€50k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €8k | - |
| Non-recurring operating income76A | - | - | - | - | €6k | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €62k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €1k | €1k | €809 | €131 | ▼ 83.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1k | €1k | €272 | €-11k | - | - |
| Other operating charges640/8 | €348 | €348 | €434 | €387 | €524 | ▲ 35.4% |
| Gross operating margin9900 | €33k | €35k | €20k | €-63k | €-46k | ▲ 27.7% |
| Operating profit (loss)9901 | €29k | €32k | €17k | €-53k | €-46k | ▲ 13.3% |
| Financial income75/76B | €1 | €6 | €613 | €1k | €808 | ▼ 38.2% |
| Recurring financial income75 | €1 | €6 | €613 | €1k | €808 | ▼ 38.2% |
| Financial charges65/66B | €216 | €223 | €2k | €2k | €2k | ▼ 24.9% |
| Recurring financial charges65 | €216 | €223 | €2k | €2k | €2k | ▼ 24.9% |
| Profit (loss) for the period before taxes9903 | €29k | €32k | €16k | €-55k | €-47k | ▲ 13.2% |
| Income taxes67/77 | €7k | €10k | €5k | €162 | €152 | ▼ 6.3% |
| Profit (loss) for the period9904 | €22k | €22k | €11k | €-55k | €-47k | ▲ 13.2% |
| Profit (loss) for the period to be appropriated9905 | €22k | €22k | €11k | €-55k | €-47k | ▲ 13.2% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €215k | €242k | €237k | €196k | €136k | ▼ 30.6% |
| Fixed assets21/28 | €4k | €3k | €1k | €370 | €930 | ▲ 151% |
| Tangible fixed assets22/27 | €4k | €2k | €809 | - | €410 | - |
| Furniture and vehicles24 | €4k | €2k | €809 | - | €410 | - |
| Financial fixed assets28 | €370 | €370 | €370 | €370 | €520 | ▲ 40.5% |
| Current assets29/58 | €211k | €239k | €236k | €196k | €135k | ▼ 30.9% |
| Amounts receivable within one year40/41 | €11k | €10k | €10k | €12k | €8k | ▼ 29.3% |
| Trade receivables40 | €11k | €10k | €10k | €11k | €8k | ▼ 25.6% |
| Other amounts receivable41 | - | - | €140 | €703 | €91 | ▼ 87.1% |
| Cash at bank and in hand54/58 | €199k | €228k | €225k | €183k | €127k | ▼ 30.8% |
| Deferred charges and accrued income490/1 | €1k | €855 | €914 | €850 | €176 | ▼ 79.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €215k | €242k | €237k | €196k | €136k | ▼ 30.6% |
| Equity10/15 | €190k | €212k | €223k | €168k | €121k | ▼ 28.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €147k | €169k | €180k | €145k | €95k | ▼ 34.5% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Other1319 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €145k | €167k | €178k | €143k | €93k | ▼ 34.9% |
| Profit (loss) carried forward14 | €25k | €25k | €25k | €5k | €7k | ▲ 52.1% |
| Amounts payable17/49 | €25k | €30k | €14k | €28k | €15k | ▼ 45.1% |
| Amounts payable within one year42/48 | €25k | €30k | €14k | €28k | €15k | ▼ 45.1% |
| Trade debts44 | €7k | €1k | €884 | €22k | €755 | ▼ 96.5% |
| Suppliers440/4 | €7k | €1k | €884 | €22k | €755 | ▼ 96.5% |
| Taxes, remuneration and social security45 | €13k | €13k | €8k | €2k | €4k | ▲ 58.6% |
| Taxes450/3 | €10k | €13k | €8k | €2k | €4k | ▲ 58.6% |
| Remuneration and social security454/9 | €2k | - | - | - | - | - |
| Other amounts payable47/48 | €6k | €15k | €5k | €4k | €11k | ▲ 184% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €22k | €11k | €-55k | €-47k | ▲ 13.2% |
| + Depreciation and write-downs630 | €2k | €1k | €1k | €809 | €131 | ▼ 83.8% |
| Operating cash flow (approximation) | €24k | €23k | €13k | €-54k | €-47k | ▲ 12.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-691 | - |
| Change in cash | - | €30k | €-3k | €-42k | €-56k | ▼ 33.8% |
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 2027, expected by
2026
22-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
03-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €-55k
Net result drops to €-55k, the lowest in the series; recovery starts the following year.
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Liquidity doublescurrent ratio 16.52
Current ratio from 8.01 to 16.52; short-term debt falls from €30k to €14k.
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €200kEq €212k ▲11.6%
5 profitable years in a row build equity to €212k.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
31-03
Financial
Highest result since 2019net €36k ▲47.4%
Operating result €44k, net result €36k, both a record.
31-03
Financial
Equity above €150kEq €168k ▲20.6%
3 profitable years in a row build equity to €168k.
2020
05-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
Show earlier events
2019
03-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
10-10
NBB filing
Annual accounts filed
fiscal year 2017 · full 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, Vorst · 1 establishment unit since 1995
Ground area
820 m²
Building footprint
402 m²
Volume, LiDAR
8,393 m³
2 parcels, Brussels · tallest building 29.3 m, ±9 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
de Huldenbergstraat 1, 1180 Ukkel
since 19952.073.976.794
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21383B0032/02M003 | Brussels | 541 m² | 1 · 280 m² | 29.3 m · 9 fl. |
| 21616G0143/00C008 | Brussels | 279 m² | 1 · 122 m² | 12.8 m · 4 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.
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,753. 3,005 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 (pre-2019)
Founded27-10-1995
Fiscal year end31-03
Activities, NACEBEL 2025
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.