THE STUDIO
InactiveInactive; last annual accounts for fiscal year 2021.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 4 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline30-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 01-06-2022, 60 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
60 d early
2020
60 d early
2019
73 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 64 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?BELFIUS BANK · 47 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2021, abbreviated schema
Turnover
€840,986▲ 250%
2020 · €240,028
EBIT margin
-11.4%▲ 371.9pp
2020 · -383.3%
Net result
-€90,370▲ 90.2%
2020 · -€920,032
Working capital
€267,001▼ 25.3%
2020 · €357,371
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Turnover€102,500-€250,317▲ 144%€240,028▼ 4.1%€840,986▲ 250%
Operating result-€2.1m--€1.1m▲ 46.8%-€919,957▲ 19.6%-€95,922▲ 89.6%
Net result-€3.3m--€1.6m▲ 51.5%-€920,032▲ 43.3%-€90,370▲ 90.2%
EBIT margin-2097.0%--456.9%▲ 1640.1pp-383.3%▲ 73.6pp-11.4%▲ 371.9pp
Equity€1.7m-€1.3m▼ 22.6%€357,371▼ 72.0%€267,001▼ 25.3%
Total assets€2.2m-€1.4m▼ 38.2%€674,733▼ 50.1%€433,554▼ 35.7%
Debt€537,932-€74,098▼ 86.2%€317,362▲ 328%€166,553▼ 47.5%
Working capital-€156,600-€722,046€357,371▼ 50.5%€267,001▼ 25.3%
Staff (FTE)3.4-6.9▲ 103%8.4▲ 21.7%
Why a figure moved sharply
- 2021 Turnover +250%, Net result +90% on 2020. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €95,922 in 2021 against €919,957 in 2020; the loss shrinks.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Equity and liabilities €433,554
Equity
€267,001 ▼ 25.3%
Debt
€166,553 ▼ 47.5%
Debt's share of the balance-sheet total falls from 47.0% to 38.4%. Equity and debt are lower.
Key figures and ratios
Current ratio
2.60▲
2020 · 2.13
Debt to equity
0.62
ROE
-33.8%▲
2020 · -257.4%
ROA
-20.8%▲
2020 · -136.4%
Debt ≤ 1 year
€166,553▼
2020 · €317,362
Income taxes
€366▲
2020 · €255
Staff costs
€18,529
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Turnover70 | €102,500 | €250,317 | €240,028 | €840,986 | ▲ 250% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €907,075 | - |
| Remuneration, social security and pensions62 | - | - | - | €18,529 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €599,681 | €8,600 | €310 | - | - |
| Non-recurring operating charges66A | - | - | - | €11,333 | - |
| Gross operating margin9900 | -€1.4m | -€657,977 | -€313,869 | -€66,060 | ▲ 79.0% |
| Operating profit (loss)9901 | -€2.1m | -€1.1m | -€919,957 | -€95,922 | ▲ 89.6% |
| Financial income75/76B | - | - | - | €6,113 | - |
| Recurring financial income75 | - | €1,105 | €36 | €5,823 | ▲ 16,075% |
| Non-recurring financial income76B | - | - | - | €290 | - |
| Financial charges65/66B | - | - | - | €195 | - |
| Recurring financial charges65 | €87 | €7,207 | €449,856 | €195 | ▼ 100.0% |
| Profit (loss) for the period before taxes9903 | -€3.3m | -€1.6m | -€919,777 | -€90,004 | ▲ 90.2% |
| Income taxes67/77 | - | €76 | €255 | €366 | ▲ 43.5% |
| Profit (loss) for the period9904 | -€3.3m | -€1.6m | -€920,032 | -€90,370 | ▲ 90.2% |
| Profit (loss) for the period to be appropriated9905 | -€3.3m | -€1.6m | -€920,032 | -€90,370 | ▲ 90.2% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.2m | €1.4m | €674,733 | €433,554 | ▼ 35.7% |
| Fixed assets21/28 | €1.8m | €555,357 | - | - | - |
| Tangible fixed assets22/27 | €9,064 | €6,357 | - | - | - |
| Financial fixed assets28 | €1.8m | €549,000 | - | - | - |
| Current assets29/58 | €381,332 | €796,144 | €674,733 | €433,554 | ▼ 35.7% |
| Amounts receivable within one year40/41 | €76,957 | €89,450 | €283,614 | €176,144 | ▼ 37.9% |
| Trade receivables40 | - | - | - | €176,144 | - |
| Cash at bank and in hand54/58 | €304,375 | €706,694 | €391,119 | €257,410 | ▼ 34.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.2m | €1.4m | €674,733 | €433,554 | ▼ 35.7% |
| Equity10/15 | €1.7m | €1.3m | €357,371 | €267,001 | ▼ 25.3% |
| Contributions10/11 | €5.0m | €6.3m | €6.3m | €6.3m | = |
| Capital10 | - | - | - | €6.3m | - |
| Issued capital100 | - | - | - | €6.3m | - |
| Profit (loss) carried forward14 | -€3.3m | -€5.0m | -€5.9m | -€6.0m | ▼ 1.5% |
| Amounts payable17/49 | €537,932 | €74,098 | €317,362 | €166,553 | ▼ 47.5% |
| Amounts payable within one year42/48 | €537,932 | €74,098 | €317,362 | €166,553 | ▼ 47.5% |
| Trade debts44 | €517,585 | €14,288 | €300,635 | €160,667 | ▼ 46.6% |
| Suppliers440/4 | - | - | - | €160,667 | - |
| Taxes, remuneration and social security45 | - | - | - | €5,886 | - |
| Taxes450/3 | - | - | - | €5,886 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3.3m | -€1.6m | -€920,032 | -€90,370 | ▲ 90.2% |
| + Depreciation and write-downs630 | €599,681 | €8,600 | €310 | - | - |
| Operating cash flow (approximation) | -€2.7m | -€1.6m | -€919,722 | -€90,370 | ▲ 90.2% |
| Investment in fixed assets (approximation) | - | €1.2m | - | - | - |
| Change in cash | - | €402,319 | -€315,575 | -€133,709 | ▲ 57.6% |
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
2022
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity times 15current ratio 10.74
Current ratio from 0.71 to 10.74; short-term debt falls from €537,932 to €74,098.
15-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
15-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 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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Structure & network
Part of the group
BELFIUS BANK
47 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- BELFIUS BANK
- THE STUDIO
Highest known parent: BELFIUS BANK. The sources do not say who stands above it.
Owners 2
- BELFIUS BANKparentSourceown accounts 202199.98%
-
0.02%
Holdings 0
The accounts to 31-12-2021 list no holdings, and no other source names one.
According to the 2021 annual accounts of THE STUDIO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.