STUDO
ActiveSTUDO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. 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 271 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
2
/ 100
Critical▼ -3 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency4▼-9
Growth52=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.21 against 0.77 in 2024), 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
8 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. 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 271 sector peers (2025).
NBB · sector comparisonPosition among 271 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
14-09-2026 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 is the lowest year so far.
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%: debt falls faster than equity shrinks.
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
no sitting director, no change since 2024
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-11-2024
Resigned as Director
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
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L'IMAGERIE
BE 0434.993.035
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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 763 companies in sector 16281 we hold annual accounts for 157. 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 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.