Studio Zappa

Active

Private limited companyfounded 201115 yrs activeBrugstraat 8, 3530 Houthalen-Helchteren, BelgiumKBO/BCE: BE 0837.293.310

Studio Zappa has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24k and a net result of €729. Equity is shrinking by ~13.7% per year across the filed fiscal years. Its solvency ranks better than 39% of 402 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).

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Checked score

Score 2025

66 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability61▲+61

Solvency56▼-5

Growth58▲+26

Track record100

Bankruptcy probability, 12 months

0.7% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.5k at 30 days acceptable

Liquidity tight (current ratio 1.17 against 1.44 in 2024; short-term debt: 50.4% and cash: 32.2% of total assets), and 69.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 31

Relative position

BE, all sectors

reference

Sector 31

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

30.5%

Return on assets

0.9%

Age of the figures

12 mo

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 31-03-2026, 30 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

30 d early

2024

1 d early

2023

24 d late

2022

2 d early

2021

32 d early

2020

3 d early

2019

35 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

16-09-2026 today30-09-2026 close30-04-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€24k▲ 3.1%

2024 · €23k

2018: €60k 2019: €60k 2020: €72k 2021: €34k 2022: €40k 2023: €43k 2024: €23k

2018 → 2025

Total assets

€79k▲ 20.8%

2024 · €65k

2018: €100k 2019: €124k 2020: €117k 2021: €66k 2022: €73k 2023: €103k 2024: €65k

2018 → 2025

Net result

€729

2024 · €-20k

2018: €495 2019: €29 2020: €13k 2021: €-39k 2022: €7k 2023: €2k 2024: €-20k

2018 → 2025

Working capital

€7k▼ 19.6%

2024 · €9k

2018: €52k 2019: €39k 2020: €49k 2021: €15k 2022: €29k 2023: €28k 2024: €9k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€34k-€40k▲ 20.1%€43k▲ 6.0%€23k▼ 45.7%€24k▲ 3.1%

Operating result€-38k-€7k€3k▼ 51.5%€-18k€2k

Net result€-39k-€7k€2k▼ 64.2%€-20k€729

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: €2k after a loss of €18k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €79k

40.9%

59.1%

Fixed assets €32k▼ 13.5%

Current assets €47k▲ 66.3%

Equity and liabilities €79k

30.5%

69.5%

Equity €24k▲ 3.1%

Debt €55k▲ 30.6%

The debt ratio rises from 64.3% to 69.5%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€6k▲

2024 · €-11k

Cash flow

€5k▲

2024 · €-12k

Solvency

30.5%▼

2024 · 35.7%

Current ratio

1.17▼

2024 · 1.44

Quick ratio

1.16▲

2024 · 0.94

Debt / equity

2.28▲

2024 · 1.80

ROE

3.0%▲

2024 · -84.0%

ROA

0.9%▲

2024 · -30.0%

Interest coverage

4.91▲

2024 · -6.31

Debt

€55k▲

2024 · €42k

Debt ≤ 1 year

€40k▲

2024 · €19k

Debt > 1 year

€15k▼

2024 · €22k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€65k€79k▲

Fixed assets21/28€37k€32k▼

Tangible fixed assets22/27€37k€32k▼

Plant, machinery and equipment23€37k€32k▼

Current assets29/58€28k€47k▲

Stocks and contracts in progress3€10k€632▼

Stocks30/36€10k€632▼

Amounts receivable within one year40/41-€20k

Trade receivables40-€18k

Other amounts receivable41-€2k

Cash at bank and in hand54/58€18k€25k▲

Deferred charges and accrued income490/1€715€415▼

Equity and liabilities

Total equity and liabilities10/49€65k€79k▲

Equity10/15€23k€24k▲

Contributions10/11€12k€12k=

Outside capital11€12k€12k=

Other1109/19€12k€12k=

Reserves13€11k€12k▲

Tax-exempt reserves132€11k€11k=

Distributable reserves133€215€943▲

Amounts payable17/49€42k€55k▲

Amounts payable after more than one year17€22k€15k▼

Financial debts170/4€22k€15k▼

Amounts payable within one year42/48€19k€40k▲

Current portion of amounts payable after more than one year42€7k€7k▲

Trade debts44€1k€10k▲

Suppliers440/4€1k€10k▲

Taxes, remuneration and social security45€5k€3k▼

Taxes450/3€549€363▼

Remuneration and social security454/9€4k€2k▼

Other amounts payable47/48€6k€19k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€4k▼

Other operating charges640/8€833€865▲

Gross operating margin9900€-10k€7k▲

Operating profit (loss)9901€-18k€2k▲

Financial income75/76B€9€1▼

Recurring financial income75€9€1▼

Financial charges65/66B€2k€1k▼

Recurring financial charges65€2k€1k▼

Profit (loss) for the period before taxes9903€-20k€729▲

Profit (loss) for the period9904€-20k€729▲

Profit (loss) for the period to be appropriated9905€-20k€729▲

Appropriation of the result

Profit (loss) to be appropriated9906€-49k€729▲

Profit (loss) brought forward from the previous period14P€-30k-

Transfer from equity791/2€49k-

Transfer to equity691/2-€729

To other reserves6921-€729

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

Next filing, fiscal year 2026, expected by 30-04-2027

2026

31-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-09

Financial Back to profitnet €729

Net result €729 after one loss-making year.

29-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

24-05

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 24 days late

2023

28-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-09

Financial Back to profitnet €7k

Net result €7k after one loss-making year.

29-03

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-09

Financial Weakest financial yearnet €-39k ▼400%

Net result drops to €-39k, the lowest in the series; recovery starts the following year.

27-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

30-09

Financial Highest result since 2018net €13k ▲44466%

Operating result €15k, net result €13k, both a record.

26-03

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

29-03

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

25-04

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

29-05

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 29 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Houthalen-Helchteren · 1 establishment unit since 2011

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Brugstraat 83530 Houthalen-Helchteren

Ground area

1,159 m²

Building footprint

178 m²

Volume, LiDAR

697 m³

Parcel 72015C0999/00P000, Flanders · tallest building 6.8 m, ±1 floor. Linked by address, not a title deed.

1 establishment unit

Studio Zappa

Brugstraat 8, 3530 Houthalen-HelchterenManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20112.200.534.674

1 parcel

Flanders 1 (100%)