Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of RETAIL STUDIO is 0.4% (very low). The 2024 annual accounts show equity of €5.43M and a net result of €-36k. Equity is growing by ~80.5% per year across the filed fiscal years. Its solvency ranks better than 79% of 972 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Signals
1 signal · with evidenceStrong solvency vs sector
Solvency is in the sector's strongest quartile: better than 79% of 972 peers (2024). A comfortable equity buffer.
View the sector comparison Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsMore than 3 years active
Founded in 2022, 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 administrative flags
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.4%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Young company
+Lower-risk legal form
−
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€-36k+24.2%
Working capital€6.71M+82.3%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 23-07-2025 with the NBB · fiscal year 2024 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~80.5%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 2024 · NACE 70, Head offices & management consulting · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 75.0% | 39.7% | |
| Net result | €-36k | €32k | |
| Equity | €5.43M | €152k | |
| Gross operating margin | €221k | €59k | |
| Staff costs | €120k | €191k |
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).
P79
Improving position over 2022-2024
· n=621-972
P13
Stable position over 2022-2024
· n=621-972
P86
Improving position over 2022-2024
· n=622-973
P82
Improving position over 2022-2024
· n=506-813
Describes the position versus peers, not a forecast.
€54k
+210.0%
+182% vs sector
€-36k
+24.2%
far below sector median
€15k
-
+6% vs sector
€7.25M
+73.4%
far above sector median
€5.43M
+58.2%
far above sector median
€6.71M
+82.3%
far above sector median
2
+23.1%
22-24
€120k
+28.4%
far above sector median
€1.81M
+143.0%
far above sector median
€188k
+74.2%
+289% vs sector
€1.63M
+156.6%
far above sector median
36.73
+4.6%
far above sector median
36.73
+4.6%
far above sector median
75.0%
-8.7%
+65% vs sector
0.33
+53.5%
-72% vs sector
-0.7%
+52.1%
far below sector median
-0.5%
+56.3%
far below sector median
1.23
+64.7%
-96% vs sector
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Revenue | - |
| EBITDA | €54k |
| Net profit | €-36k |
| Cash flow | €15k |
| Staff costs | €120k |
| Income taxes | - |
| Dividends | - |
| Total assets | €7.25M |
| Equity | €5.43M |
| Debt | €1.81M |
| of which ≤ 1y | €188k |
| of which > 1y | €1.63M |
| Working capital | €6.71M |
| Employees (FTE) | 1.6 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 36.73 |
| Quick ratio | 36.73 |
| Working capital ratio | 92.6% |
| Solvency | 75.0% |
| Debt / equity | 0.33 |
| Long-term debt ratio | 0.30 |
| Interest coverage | 1.23 |
| Gross margin | - |
| Net margin | - |
| ROA | -0.5% |
| ROE | -0.7% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €7.25M |
| Fixed assets | 21/28 | €337k |
| Formation expenses | 20 | €11k |
| Intangible fixed assets | 21 | €212k |
| Tangible fixed assets | 22/27 | €1k |
| Financial fixed assets | 28 | €123k |
| Current assets | 29/58 | €6.90M |
| Amounts receivable within one year | 40/41 | €5.90M |
| Cash & bank | 54/58 | €993k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €7.25M |
| Equity | 10/15 | €5.43M |
| Contributions / capital | 10/11 | €5.67M |
| Accumulated profits (losses) | 14 | €-245k |
| Amounts payable | 17/49 | €1.81M |
| Amounts payable after one year | 17 | €1.63M |
| Amounts payable within one year | 42/48 | €188k |
| Trade debts payable within one year | 44 | €68k |
| Income statement | ||
| Gross operating margin | 9900 | €221k |
| Operating result | 9901 | €4k |
| Financial income | 75 | €4k |
| Financial charges | 65 | €44k |
| Result before taxes | 9903 | €-36k |
| Net result for the period | 9904 | €-36k |
| Result to be appropriated | 9905 | €-36k |
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed63
/ 100
Healthy
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 with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
9 directorsCurrent directors & mandates
-
Current03-01-2025 → present
-
Current25-01-2023 → present
-
Invest.BWLegal entityDirector· perm. rep.: Corine ESTIEVENARTState Gazette act 23308063 (25-01-2023)Current25-01-2023 → present
-
Current25-01-2023 → present
-
Current25-01-2023 → present
-
Current25-01-2023 → present
-
NEXTGEN INVESTMENT GROUPLegal entityDirector· perm. rep.: Jean-Marc HEYNDERICKXState Gazette act 23308063 (25-01-2023)Current25-01-2023 → present
-
Current25-01-2023 → present
Former directors (1)
-
Former25-01-2023 → 13-05-2025
2 events
- 13-05-2025 Resigned· Director
- 25-01-2023 Appointed· Director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
1 auditor| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| LVM AUDIT SERVICES Réviseurs d’EntreprisesCurrent Company auditor · represented by Vincent MISSELYN |
- | 06-10-2025 → present |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies(70200) |
| Legal form | Public limited company(014) |
| Incorporation | 02-05-2022 |
| Status | Active |
| Postal code | 1310 |
Structure & network
Connections & network
10 connected companiesGroup structure
Subsidiary · 19 locations
→
Linked via shared directors
viaJean-Marc Van Cutsem · Permanent representative
→
viaJean-Marc Van Cutsem · Director
→
viaJean-Marc Van Cutsem · Director
former→
viaJean-Marc Van Cutsem · Director
former→
viaJean-Marc Van Cutsem · Director
former→
viaJean-Marc Van Cutsem · Permanent representative
former→
viaJean-Marc Van Cutsem · Permanent representative
former→
Network connections
Shared address
→
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 locationRETAIL STUDIO
since 20222.331.297.604
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area5.5 ha
Buildings1
Building footprint1.5 ha
Volume (LiDAR)150,696 m³
Tallest building21.1 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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.
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25050E0040/00S000 ProtectedSite or landscape |
Wallonia | 5.5 ha | 1 · 1.5 ha | 21.1 m · 3 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
11 acts Capital history · 3
10-10-2025
v3.2
25-09-2024
v3.2
07-07-2023
v3.2
Address history · 1
21-06-2022
v3.2
All acts · 11
updated 2 months ago
2026
26-05-2026 General meeting · Auditor mandate · Mandate compensation · Power of attorney
- Filing: 2026-05-13 · RETAIL STUDIO
- General meeting: 2025-12-29 · RETAIL STUDIO
- Auditor mandate: end: 2028-12-31, start: 2026, duration: 3 ans · RETAIL STUDIO
- Mandate compensation: note: hors TVA, year: 2026, amount: 4000, currency: EUR · RETAIL STUDIO
- Power of attorney: date: 2025-12-29, purpose: accomplir les formalités de dépôt et de publication légales · RETAIL STUDIO
- Publication: 2026-05-26
- Act object: Nomination commissaire - Pouvoirs
Summary:
General meeting · Auditor mandate · Mandate compensation · Power of attorney
2025
10-10-2025 Capital increase of €2,554,926 to €8,226,926
06-08-2025 Yvan Verougstraete resigns as director
03-01-2025 1 director appointed, 1 resigning
2024
25-09-2024 Capital increase of €540,000 to €5,672,000
04-09-2024 Change in the board of directors
Summary:
v3.2
15-02-2024 Articles of association amended
Summary:
v3.2
2023
07-07-2023 Capital increase of €2,040,000 to €3,632,000
25-01-2023 8 directors appointed
- Yvan VEROUGSTRAETE, Bestuurder
- Julie VANDENBRANDE, Bestuurder
- Jean-Marc HEYNDERICKX, Bestuurder
- Jacques HAYEZ, Bestuurder
- Xavier VANPOUCKE, Bestuurder
- Jean-Marc VAN CUTSEM, Bestuurder
- Corine ESTIEVENART, Bestuurder
- HUMAN CAPITAL REP., Bestuurder
Summary:
v3.2
2022
21-06-2022 Registered office moved within La Hulpe
- Avenue Reine Astrid 92, 1310 La Hulpe → Chaussée de Bruxelles 135, 1310 La Hulpe
Summary:
v3.2
04-05-2022 Incorporation of a new SNC
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes67
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
63
Profitability
0
Solvency
100
Growth
78
Stability
94
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Activiteiten van hoofdkantoren70100Activiteiten van hoofdkantoren70100Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Activiteiten van hoofdkantoren70100Activiteiten van hoofdkantoren70100Adviesbureaus op het gebied van public relations en communicatie70210Activiteiten van adviesbureaus op het gebied van public relations en communicatie73300Organisatie van congressen en beurzen82300Organisatie van congressen en beurzen82300
Primary activity highlighted.
Names & trade names
| Legal nameFR | RETAIL STUDIO |
Registered office
Chaussée de Bruxelles 135 A
1310 La Hulpe, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.