STUDIO89
ActiveSummary
STUDIO89 has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €165k and a net result of €18k. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 60% of 2003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+75
Solvency86▲+9
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.21 in 2024; short-term debt: 38.9% and cash: 33.6% of total assets), and 38.9% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
61.1%
Return on assets
6.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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
25 d late
2024
21 d late
2023
15 d late
2022
22 d late
2021
33 d early
2020
25 d late
2019
69 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€18k
2024 · €-37k
2018: €20k
2019: €-13k▼ -166% vs 2018
2020: €2k▲ +115% vs 2019
2021: €26k▲ +1236% vs 2020highest in 8 years
2022: €-12k▼ -144% vs 2021
2023: €7k▲ +163% vs 2022
2024: €-37k▼ -613% vs 2023lowest in 8 years
2025: €18k▲ +147% vs 2024
2018 → 2025
Working capital
€40k▲ 39.2%
2024 · €29k
2018: €154k
2019: €144k▼ -6.6% vs 2018
2020: €153k▲ +6.8% vs 2019
2021: €184k▲ +19.8% vs 2020highest in 8 years
2022: €147k▼ -20.1% vs 2021
2023: €152k▲ +3.6% vs 2022
2024: €29k▼ -81.2% vs 2023lowest in 8 years
2025: €40k▲ +39.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€189k-€177k▼ 6.1%€185k▲ 4.1%€147k▼ 20.1%€165k▲ 11.9%
2021: €189khighest in 5 years
2022: €177k▼ -6.1% vs 2021
2023: €185k▲ +4.1% vs 2022
2024: €147k▼ -20.1% vs 2023lowest in 5 years
2025: €165k▲ +11.9% vs 2024
Operating result€30k-€-10k€12k€-41k€18k
2021: €30khighest in 5 years
2022: €-10k▼ -132% vs 2021
2023: €12k▲ +219% vs 2022
2024: €-41k▼ -456% vs 2023lowest in 5 years
2025: €18k▲ +144% vs 2024
Net result€26k-€-12k€7k€-37k€18k
2021: €26khighest in 5 years
2022: €-12k▼ -144% vs 2021
2023: €7k▲ +163% vs 2022
2024: €-37k▼ -613% vs 2023lowest in 5 years
2025: €18k▲ +147% vs 2024
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €18k after a loss of €41k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €270k
Fixed assets
€125k ▲ 5.4%
Current assets
€145k ▼ 12.1%
Equity and liabilities €270k
Equity
€165k ▲ 11.9%
Debt
€105k ▼ 22.8%
Debt's share of the balance-sheet total falls from 48.0% to 38.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38k▲
2024 · €-17k
Cash flow
€38k▲
2024 · €-14k
Current ratio
1.38▲
2024 · 1.21
Debt to equity
0.64▼
2024 · 0.92
ROE
10.7%▲
2024 · -25.1%
ROA
6.5%▲
2024 · -13.1%
Interest coverage
97.89▲
2024 · -10.94
Debt ≤ 1 year
€105k▼
2024 · €136k
Income taxes
€503▲
2024 · €197
Staff costs
€2k▼
2024 · €12k
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€284k€270k▼
Fixed assets21/28€119k€125k▲
Tangible fixed assets22/27€119k€125k▲
Furniture and vehicles24€119k€125k▲
Financial fixed assets28€160€160=
Current assets29/58€165k€145k▼
Amounts receivable within one year40/41€115k€54k▼
Trade receivables40€109k€48k▼
Other amounts receivable41€6k€5k▼
Cash at bank and in hand54/58€47k€91k▲
Deferred charges and accrued income490/1€3k-
Equity and liabilities
Total equity and liabilities10/49€284k€270k▼
Equity10/15€147k€165k▲
Contributions10/11€20k€20k=
Reserves13€20k€20k=
Tax-exempt reserves132€20k€20k=
Profit (loss) carried forward14€107k€125k▲
Amounts payable17/49€136k€105k▼
Amounts payable within one year42/48€136k€105k▼
Current portion of amounts payable after more than one year42€2k-
Trade debts44€101k€46k▼
Suppliers440/4€101k€46k▼
Advances received on contracts in progress46€297€297=
Taxes, remuneration and social security45€2k€10k▲
Taxes450/3€2k€7k▲
Remuneration and social security454/9-€3k
Other amounts payable47/48€31k€48k▲
Income statement
Code20242025
Non-recurring operating income76A-€2k
Remuneration, social security and pensions62€12k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€20k▼
Other operating charges640/8€1k€4k▲
Non-recurring operating charges66A€3k-
Gross operating margin9900€-2k€45k▲
Operating profit (loss)9901€-41k€18k▲
Financial income75/76B€6k€312▼
Recurring financial income75€6k€312▼
Financial charges65/66B€2k€390▼
Recurring financial charges65€2k€390▼
Profit (loss) for the period before taxes9903€-37k€18k▲
Income taxes67/77€197€503▲
Profit (loss) for the period9904€-37k€18k▲
Profit (loss) for the period to be appropriated9905€-37k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€107k€125k▲
Profit (loss) brought forward from the previous period14P€144k€107k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1k | €477 | - | - | €2k | - |
| Remuneration, social security and pensions62 | - | - | €3k | €12k | €2k | ▼ 82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €5k | €12k | €24k | €20k | ▼ 15.0% |
| Other operating charges640/8 | €3k | €2k | €2k | €1k | €4k | ▲ 199% |
| Non-recurring operating charges66A | - | - | - | €3k | - | - |
| Gross operating margin9900 | €42k | €-3k | €29k | €-2k | €45k | ▲ 2,769% |
| Operating profit (loss)9901 | €30k | €-10k | €12k | €-41k | €18k | ▲ 144% |
| Financial income75/76B | €30 | €608 | €409 | €6k | €312 | ▼ 94.5% |
| Recurring financial income75 | €30 | €608 | €409 | €6k | €312 | ▼ 94.5% |
| Financial charges65/66B | €2k | €2k | €2k | €2k | €390 | ▼ 75.5% |
| Recurring financial charges65 | €2k | €2k | €2k | €2k | €390 | ▼ 75.5% |
| Profit (loss) for the period before taxes9903 | €28k | €-11k | €10k | €-37k | €18k | ▲ 149% |
| Income taxes67/77 | €2k | €219 | €3k | €197 | €503 | ▲ 155% |
| Profit (loss) for the period9904 | €26k | €-12k | €7k | €-37k | €18k | ▲ 147% |
| Profit (loss) for the period to be appropriated9905 | €26k | €-12k | €7k | €-37k | €18k | ▲ 147% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €266k | €255k | €289k | €284k | €270k | ▼ 4.8% |
| Formation expenses20 | - | - | €858 | - | - | - |
| Fixed assets21/28 | €5k | €36k | €34k | €119k | €125k | ▲ 5.4% |
| Tangible fixed assets22/27 | €5k | €35k | €34k | €119k | €125k | ▲ 5.4% |
| Plant, machinery and equipment23 | €935 | €468 | - | - | - | - |
| Furniture and vehicles24 | €4k | €35k | €34k | €119k | €125k | ▲ 5.4% |
| Financial fixed assets28 | €160 | €160 | €160 | €160 | €160 | = |
| Current assets29/58 | €261k | €219k | €255k | €165k | €145k | ▼ 12.1% |
| Amounts receivable within one year40/41 | €58k | €55k | €86k | €115k | €54k | ▼ 53.0% |
| Trade receivables40 | €53k | €45k | €76k | €109k | €48k | ▼ 55.5% |
| Other amounts receivable41 | €5k | €10k | €10k | €6k | €5k | ▼ 2.9% |
| Cash at bank and in hand54/58 | €189k | €155k | €162k | €47k | €91k | ▲ 91.8% |
| Deferred charges and accrued income490/1 | €14k | €10k | €6k | €3k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €266k | €255k | €289k | €284k | €270k | ▼ 4.8% |
| Equity10/15 | €189k | €177k | €185k | €147k | €165k | ▲ 11.9% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Outside capital11 | €20k | - | - | - | - | - |
| Other1109/19 | €20k | - | - | - | - | - |
| Reserves13 | €20k | €20k | €20k | €20k | €20k | = |
| Tax-exempt reserves132 | €20k | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €149k | €137k | €144k | €107k | €125k | ▲ 16.4% |
| Amounts payable17/49 | €77k | €77k | €105k | €136k | €105k | ▼ 22.8% |
| Amounts payable after more than one year17 | - | €5k | €2k | - | - | - |
| Financial debts170/4 | - | €5k | €2k | - | - | - |
| Amounts payable within one year42/48 | €77k | €72k | €103k | €136k | €105k | ▼ 22.8% |
| Current portion of amounts payable after more than one year42 | - | €3k | €3k | €2k | - | - |
| Trade debts44 | €21k | €38k | €46k | €101k | €46k | ▼ 54.3% |
| Suppliers440/4 | €21k | €38k | €46k | €101k | €46k | ▼ 54.3% |
| Advances received on contracts in progress46 | €297 | €297 | €297 | €297 | €297 | = |
| Taxes, remuneration and social security45 | €20k | €12k | €14k | €2k | €10k | ▲ 433% |
| Taxes450/3 | €16k | €12k | €14k | €2k | €7k | ▲ 274% |
| Remuneration and social security454/9 | €5k | - | €447 | - | €3k | - |
| Other amounts payable47/48 | €35k | €19k | €39k | €31k | €48k | ▲ 57.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26k | €-12k | €7k | €-37k | €18k | ▲ 147% |
| + Depreciation and write-downs630 | €9k | €5k | €12k | €24k | €20k | ▼ 15.0% |
| Operating cash flow (approximation) | €35k | €-7k | €20k | €-14k | €38k | ▲ 378% |
| Investment in fixed assets (approximation) | - | €-35k | €-11k | €-109k | €-26k | ▲ 75.7% |
| Change in cash | - | €-34k | €8k | €-115k | €43k | ▲ 138% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
31-12
Financial
Equity above €150kEq €165k ▲11.9%
Equity rises from €147k to €165k.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Weakest financial yearnet €-37k
Net result drops to €-37k, the lowest in the series; recovery starts the following year.
15-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 15 days late
2023
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €26k ▲1,236%
Operating result €30k, net result €26k, both a record.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
Show earlier events
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 43 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waterloo · 1 establishment unit since 2009
Ground area
710 m²
Building footprint
122 m²
Volume, LiDAR
666 m³
Parcel 25110S0121/00E003, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
STUDIO89
since 20092.182.630.157
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110S0121/00E003 | Wallonia | 710 m² | 1 · 122 m² | 7.0 m · 2 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.
Recognitions · licences · registrations
Legal Entity Identifier
9676005K4BW54W7E6M69
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Of 3,393 companies in sector 90393 we hold annual accounts for 939. 738 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
Founded21-09-2009
Fiscal year end31-12
Activities, NACEBEL 2025
90393Specialised image, lighting and sound technical services
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.