STUDYBEL
ActiveThe annual accounts of STUDYBEL for fiscal year 2025 show a net loss of 76% of the equity at the start of that year. The 2025 annual accounts show equity of €131k and a net result of €-419k. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 14% of 723 sector peers (fiscal year 2025). The company has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
43
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-57
Solvency32▼-22
Growth45▼-39
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €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 tight (current ratio 1.1 against 1.45 in 2024; short-term debt: 89.6% and cash: 26.3% of total assets), and 93.3% 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.
−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 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 723 sector peers (2025).
NBB · sector comparisonPosition among 723 sector peers
Solvency
better than 14%
← 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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
27 d early
2023
49 d early
2022
39 d early
2021
11 d early
2020
18 d early
2019
on the day
← 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, full schema
Turnover
€4.40M▼ 28.1%
2024 · €6.12M
2018: €2.15M
2019: €2.32M
2020: €1.93M
2021: €1.91M
2022: €2.45M
2023: €3.86M
2024: €6.12M
2018 → 2025
EBIT margin
-22.2%▼ 24.0pp
2024 · 1.8%
2018: 4.1%
2019: 2.0%
2020: 1.9%
2021: 2.6%
2022: 2.2%
2023: 1.8%
2024: 1.8%
2018 → 2025
Net result
€-419k
2024 · €35k
2018: €33k
2019: €10k
2020: €9k
2021: €15k
2022: €15k
2023: €8k
2024: €35k
2018 → 2025
Working capital
€177k▼ 69.7%
2024 · €584k
2018: €390k
2019: €400k
2020: €429k
2021: €479k
2022: €481k
2023: €503k
2024: €584k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.91M-€2.45M▲ 28.4%€3.86M▲ 57.4%€6.12M▲ 58.6%€4.40M▼ 28.1%
Equity€492k-€507k▲ 3.1%€515k▲ 1.7%€550k▲ 6.7%€131k▼ 76.1%
Operating result€49k-€54k▲ 10.7%€69k▲ 27.9%€112k▲ 62.6%€-977k
Net result€15k-€15k▲ 3.4%€8k▼ 44.8%€35k▲ 312%€-419k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €977k after €112k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.94M
Fixed assets
€25k▼ 38.0%
Current assets
€1.92M▲ 1.6%
Equity and liabilities €1.94M
Equity
€131k▼ 76.1%
Provisions
€70k▼ 4.3%
Debt
€1.74M▲ 33.6%
The debt ratio rises from 67.7% to 89.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-959k▼
2024 · €136k
Cash flow
€-401k▼
2024 · €59k
Solvency
6.7%▼
2024 · 28.5%
Current ratio
1.10▼
2024 · 1.45
Quick ratio
0.75▼
2024 · 1.21
Debt / equity
13.28▲
2024 · 2.37
ROE
-319.2%▼
2024 · 6.3%
ROA
-21.5%▼
2024 · 1.8%
Interest coverage
-26.52▼
2024 · 8.30
Debt
€1.74M▲
2024 · €1.30M
Debt ≤ 1 year
€1.74M▲
2024 · €1.30M
Income taxes
€7k▼
2024 · €62k
Staff costs
€2.88M▲
2024 · €2.53M
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€1.93M€1.94M▲
Fixed assets21/28€40k€25k▼
Intangible fixed assets21€2k€876▼
Tangible fixed assets22/27€29k€15k▼
Land and buildings22€3k€0▼
Furniture and vehicles24€26k€15k▼
Financial fixed assets28€9k€9k=
Affiliated companies280/1€9k€9k=
Participating interests280€9k€9k=
Other financial fixed assets284/8€74€74=
Amounts receivable and cash guarantees285/8€74€74=
Current assets29/58€1.89M€1.92M▲
Stocks and contracts in progress3€311k€608k▲
Stocks30/36€31k€50k▲
Goods purchased for resale34€31k€50k▲
Contracts in progress37€281k€558k▲
Amounts receivable within one year40/41€1.28M€769k▼
Trade receivables40€1.24M€687k▼
Other amounts receivable41€30k€82k▲
Cash at bank and in hand54/58€262k€511k▲
Deferred charges and accrued income490/1€39k€32k▼
Equity and liabilities
Total equity and liabilities10/49€1.93M€1.94M▲
Equity10/15€550k€131k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€71k€71k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€21k€21k=
Distributable reserves133€44k€44k=
Profit (loss) carried forward14€416k€-2k▼
Provisions and deferred taxes16€73k€70k▼
Provisions for liabilities and charges160/5€73k€70k▼
Other liabilities and charges164/5€73k€70k▼
Amounts payable17/49€1.30M€1.74M▲
Amounts payable within one year42/48€1.30M€1.74M▲
Trade debts44€352k€894k▲
Suppliers440/4€352k€894k▲
Advances received on contracts in progress46€380k€153k▼
Taxes, remuneration and social security45€568k€575k▲
Taxes450/3€229k€181k▼
Remuneration and social security454/9€338k€394k▲
Other amounts payable47/48€5k€120k▲
Accrued charges and deferred income492/3€315€327▲
Income statement
Code20242025
Operating income70/76A€6.15M€4.76M▼
Turnover70€6.12M€4.40M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-29k€278k▲
Other operating income74€56k€82k▲
Operating charges60/66A€6.04M€5.74M▼
Goods for resale, raw materials and consumables60€2.33M€1.60M▼
Purchases600/8€2.33M€1.62M▼
Change in stocks: decrease (increase)609€894€-19k▼
Services and other goods61€1.09M€1.20M▲
Remuneration, social security and pensions62€2.53M€2.88M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€18k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€37k€-3k▼
Other operating charges640/8€22k€32k▲
Non-recurring operating charges66A€5k€13k▲
Operating profit (loss)9901€112k€-977k▼
Financial income75/76B€4k€605k▲
Recurring financial income75€4k€5k▲
Income from financial fixed assets750€4k€4k=
Income from current assets751€0€0▼
Other financial income752/9€104€964▲
Non-recurring financial income76B-€600k
Financial charges65/66B€20k€40k▲
Recurring financial charges65€20k€40k▲
Debt charges650€16k€36k▲
Other financial charges652/9€3k€3k▲
Non-recurring financial charges66B€148-
Profit (loss) for the period before taxes9903€97k€-411k▼
Income taxes67/77€62k€7k▼
Taxes670/3€62k€7k▼
Profit (loss) for the period9904€35k€-419k▼
Profit (loss) for the period to be appropriated9905€35k€-419k▼
Appropriation of the result
Profit (loss) to be appropriated9906€416k€-2k▼
Profit (loss) brought forward from the previous period14P€382k€416k▲
Social balance
Average headcount (FTE)908727.327.7▲
The notes to these accounts (51 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
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-419k ▼1313%
Net result drops to €-419k, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €35k ▲312%
Operating result €112k, net result €35k, both a record.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €500kEq €507k ▲3.1%
5 profitable years in a row build equity to €507k.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 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, Evere · 1 establishment unit since 1982
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.
Genèvestraat 1751140 EvereGround area
1,864 m²
Building footprint
578 m²
Volume, LiDAR
11,381 m³
Parcel 21372C0009/00A003, Brussels · tallest building 35.3 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
Genèvestraat 175, 1140 Evere
since 19822.020.332.133
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21372C0009/00A003 | Brussels | 1,864 m² | 1 · 577 m² | 35.3 m · 7 fl. |
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.
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Of 11,553 companies in sector 71121 we hold annual accounts for 6,555. 5,240 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-02-1982
Fiscal year end31-12
Activities, NACEBEL
71121Engineering and related technical consultancy, excluding land surveyors
74203
Sources
Crossroads Bank for EnterprisesNational Bank · 43 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.