STUDO
ActiveThe annual accounts of STUDO for fiscal year 2025 show a net loss of 57% of the equity at the start of that year. The 2025 annual accounts show equity of €66k and a net result of €-87k. Equity is growing by ~26% per year across the filed fiscal years. Its solvency ranks better than 11% of 272 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
43
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability8▼-4
Solvency31▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.21 against 0.77 in 2024; short-term debt: 53.7% and cash: 9.6% of total assets), and 93.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2025Solvency, return and age of the figures
Solvency
6.3%
Return on assets
-8.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-87k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 272 sector peers (2025).
NBB · sector comparisonPosition among 272 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
30 d early
2024
31 d early
2023
27 d early
2022
29 d early
2021
34 d early
2020
31 d early
2019
30 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€66k▼ 57.0%
2024 · €153k
2019: €28k
2020: €48k
2021: €83k
2022: €287
2023: €97k
2024: €153k
2019 → 2025
Total assets
€1.04M▼ 32.5%
2024 · €1.54M
2019: €487k
2020: €497k
2021: €506k
2022: €467k
2023: €1.38M
2024: €1.54M
2019 → 2025
Net result
€-87k▼ 12.3%
2024 · €-78k
2019: €18k
2020: €20k
2021: €35k
2022: €-83k
2023: €-57k
2024: €-78k
2019 → 2025
Working capital
€-438k▼ 149%
2024 · €-176k
2019: €-78k
2020: €-108k
2021: €-115k
2022: €-206k
2023: €-386k
2024: €-176k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€83k-€287▼ 99.7%€97k▲ 33,503%€153k▲ 58.1%€66k▼ 57.0%
Operating result€49k-€-72k€-67k▲ 7.4%€-89k▼ 33.7%€-97k▼ 8.8%
Net result€35k-€-83k€-57k▲ 30.9%€-78k▼ 35.1%€-87k▼ 12.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €97k in 2025 against €89k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.04M
Fixed assets
€918k▼ 2.9%
Current assets
€118k▼ 80.0%
Equity and liabilities €1.04M
Equity
€66k▼ 57.0%
Provisions
€415k▼ 3.6%
Debt
€556k▼ 41.7%
The debt ratio falls from 62.1% to 53.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-70k▼
2024 · €-59k
Cash flow
€-60k▼
2024 · €-47k
Solvency
6.3%▼
2024 · 9.9%
Current ratio
0.21▼
2024 · 0.77
Quick ratio
0.21▲
2024 · 0.04
Debt / equity
8.48▲
2024 · 6.25
ROE
-132.7%▼
2024 · -50.8%
ROA
-8.4%▼
2024 · -5.0%
Interest coverage
-17.75▼
2024 · -15.26
Debt
€556k▼
2024 · €954k
Debt ≤ 1 year
€556k▼
2024 · €767k
Income taxes
€2k
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€1.54M€1.04M▼
Fixed assets21/28€946k€918k▼
Intangible fixed assets21€246k€246k=
Tangible fixed assets22/27€695k€668k▼
Land and buildings22€653k€632k▼
Plant, machinery and equipment23€27k€23k▼
Furniture and vehicles24€12k€10k▼
Other tangible fixed assets26€3k€3k▼
Financial fixed assets28€4k€4k=
Current assets29/58€591k€118k▼
Stocks and contracts in progress3€560k-
Stocks30/36€535k-
Contracts in progress37€25k-
Amounts receivable within one year40/41€10k€19k▲
Trade receivables40€678-
Other amounts receivable41€10k€19k▲
Cash at bank and in hand54/58€21k€99k▲
Equity and liabilities
Total equity and liabilities10/49€1.54M€1.04M▼
Equity10/15€153k€66k▼
Contributions10/11€144k€144k=
Capital10€144k€144k=
Issued capital100€144k€144k=
Reserves13€144k€139k▼
Non-distributable reserves130/1€1k€1k=
Legal reserve130€1k€1k=
Tax-exempt reserves132€143k€138k▼
Profit (loss) carried forward14€-135k€-217k▼
Provisions and deferred taxes16€430k€415k▼
Deferred taxes168€430k€415k▼
Amounts payable17/49€954k€556k▼
Amounts payable after more than one year17€187k-
Financial debts170/4€187k-
Amounts payable within one year42/48€767k€556k▼
Trade debts44€1k€37▼
Suppliers440/4€1k€37▼
Taxes, remuneration and social security45€3k€1k▼
Taxes450/3€3k€1k▼
Other amounts payable47/48€763k€555k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€27k▼
Other operating charges640/8€4k€2k▼
Gross operating margin9900€-55k€-68k▼
Operating profit (loss)9901€-89k€-97k▼
Financial income75/76B€5€532▲
Recurring financial income75€5€532▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€-93k€-100k▼
Transfer from deferred taxes780€15k€15k=
Income taxes67/77-€2k
Profit (loss) for the period9904€-78k€-87k▼
Transfer from tax-exempt reserves789€5k€5k=
Profit (loss) for the period to be appropriated9905€-72k€-82k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-135k€-217k▼
Profit (loss) brought forward from the previous period14P€-63k€-135k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-87k
Net result drops to €-87k, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150kEq €153k ▲58.1%
Equity rises from €97k to €153k.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2019net €35k ▲73.8%
Operating result €49k, net result €35k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Hasselt · 1 establishment unit since 2018
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.
Scheepvaartlaan 623500 HasseltGround area
2,346 m²
Building footprint
1,245 m²
Parcel 71327G0288/00G002, Flanders. Linked by address, not a title deed.
1 establishment unit
STUDO
since 20182.278.315.313
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71327G0288/00G002 | Flanders | 2,346 m² | 1 · 1,245 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ARTCADEMIA
BE 0839.723.951
Wavre · Eq €64k
L'IMAGERIE
BE 0434.993.035
Namur · Eq €69k
SAGAFIL
BE 0832.891.191
Héron · Eq €70k
ARTO PRODUCTION
BE 0457.024.309
Kinrooi · Eq €71k
SLC CHASSIS
BE 0667.942.394
Boutersem · Eq €59k
Of 764 companies in sector 16281 we hold annual accounts for 158. 104 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-08-2018
Fiscal year end31-12
Activities, NACEBEL
16281Manufacture of other wood products
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.