Cheyne Studio · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Cheyne Studio is 0.5% (low). The 2025 annual accounts show equity of €2k and a net result of €49k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 1162 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 1162 sector peers (2025).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-04-2026, 99 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

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.

How we compute the deadline

The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	23-04-2026	99 d early	2026-00085766
31-12-2024	31-07-2025	10-06-2025	51 d early	2025-00127885
31-12-2023	31-07-2024	17-06-2024	44 d early	2024-00133192
31-12-2022	31-07-2023	15-09-2023	46 d late	2023-00446529
31-12-2021	31-07-2022	01-07-2022	30 d early	2022-20117291
31-12-2020	31-07-2021	31-08-2021	31 d late	2021-62600552

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.5% Low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Young company +Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€49k+25.3%

Working capital€2k+128.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 23-04-2026 with the NBB · fiscal year 2025 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~39% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 71, Architecture & engineering · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	3.0%	55.1%	better than 9% of 1162 sector peers
Net result	€49k	€24k	better than 73% of 1161 sector peers
Equity	€2k	€51k	better than 8% of 1162 sector peers
Gross operating margin	€69k	€43k	better than 67% of 1161 sector peers
Total assets	€67k	€106k	better than 30% of 1162 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P9

Weakening position over 2020-2025 · n=410-3380

Net result P73

Stable position over 2020-2025 · n=410-3380

Equity P8

Weakening position over 2020-2025 · n=410-3382

Gross operating margin P67

Stable position over 2020-2025 · n=409-3377

Describes the position versus peers, not a forecast.

EBITDA

€69k

+22.8% 20-25

Net profit

€49k

+25.3% 20-25

Cash flow

€50k

+24.7% 20-25

Total assets

€67k

+17.4% 20-25

Equity

€2k

0.0% 20-25

Working capital

€2k

+128.8% 20-25

Income taxes

€18k

+17.8% 20-25

Dividends

€49k

+25.3% 20-25

Debt

€65k

+18.0% 20-25

Debt ≤ 1y

€65k

+18.0% 20-25

Current ratio

1.03

+1.2% 20-25

Quick ratio

1.03

+1.2% 20-25

Solvency

3.0%

-14.8% 20-25

Debt / equity

32.62

+18.0% 20-25

ROE

2467.1%

+25.3% 20-25

ROA

73.4%

+6.7% 20-25

Interest coverage

877.37

+9.6% 20-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€69k
Net profit	€49k
Cash flow	€50k
Staff costs	-
Income taxes	€18k
Dividends	€49k
Total assets	€67k
Equity	€2k
Debt	€65k
of which ≤ 1y	€65k
of which > 1y	-
Working capital	€2k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	1.03
Quick ratio	1.03
Working capital ratio	2.5%
Solvency	3.0%
Debt / equity	32.62
Long-term debt ratio	-
Interest coverage	877.37
Gross margin	-
Net margin	-
ROA	73.4%
ROE	2467.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €322 · 0.5% Current assets €67k · 99.5%

Equity & liabilities

Equity €2k · 3.0% Debt €65k · 97.0%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€67k
Fixed assets	21/28	€322
Tangible fixed assets	22/27	€322
Current assets	29/58	€67k
Amounts receivable within one year	40/41	€13k
Cash & bank	54/58	€54k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€67k
Equity	10/15	€2k
Contributions / capital	10/11	€2k
Amounts payable	17/49	€65k
Amounts payable within one year	42/48	€65k
Trade debts payable within one year	44	€3k
Income statement
Gross operating margin	9900	€69k
Operating result	9901	€68k
Financial charges	65	€78
Result before taxes	9903	€68k
Income taxes	67/77	€18k
Net result for the period	9904	€49k
Result to be appropriated	9905	€49k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

73 / 100 Healthy

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Paul Parmentierlaan 2678300 Knokke-Heist

Establishment units

1 location

Cheyne Studio

Paul Parmentierlaan 267, 8300 Knokke-HeistActiviteiten van bouwarchitecten

since 20202.311.770.415

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area141 m²

Buildings1

Building footprint136 m²

Volume (LiDAR)2,769 m³

Tallest building23.2 m · ±7 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
31013A0465/00A000	Flanders	141 m²	1 · 136 m²	23.2 m · 7 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

68 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 73

Profitability 100

Solvency 14

Growth 58

Stability 94

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