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APPYFLOWS

Active
Besloten Vennootschap van publiek rechtfounded 2019active for 7 yearsChaussée de Bruxelles 495, 1410 Waterloo, BelgiumKBO/BCE: BE 0729.953.110
Summary

APPYFLOWS has the legal form “Besloten Vennootschap van publiek recht” in the KBO; Checked does not compute a bankruptcy probability for it. The 2025 annual accounts show equity of €7,273 and a net result of -€1,548. Equity is shrinking by about 17% per year across the filed financial years. Its solvency ranks better than 52% of 16,824 sector peers (NACE 56, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Limited-service restaurants, excluding mobile food services
NACE 56112
1 site
Size
€22,387total assets 2025
Equity
€7,273
Loss
-€1,548
Turnover not published (micro format)
Financial health
35 Weak Checked score 2025
Bankruptcy probability: legal form outside the model
Structure
2025 accounts filed 28 days late2 of 3 deeds summarised
Signalsraises risk2025 accounts filed 28 days lateShow the evidence

Checked score

Score 2025
35 / 100
Weak▼ -8 on 2024
Without a bankruptcy probability: score from the figures alone
Financial strength · tick = 2024
Weak
Solvency 57-18
equity 32.5% of total assets
Liquidity 41+16
short-term debt 67.5% · cash 21.3%
Profitability 20-9
return on assets -6.9%
Bankruptcy probability, 12 months

The KBO gives the legal form as “Besloten Vennootschap van publiek recht”. We show no bankruptcy probability for it: the model is built on companies and gives no reliable figure for this form.

No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.48, compared with 2.0 in 2024, below the usual 1.5; short-term debt: 67.5% and cash: 21.3% of total assets), and 67.5% of the assets are financed with debt and provisions.
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Signals

1 signal.
raises risk
raises risk · 2025 accounts filed 28 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filings
Deviation from the deadline
2025
28 days late
2024
24 days early
2023
30 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 11 days after the deadline; the sector median (NACE 56) for financial year 2024 is 6 days after the deadline, and 53% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (3 of the last 3 filed years within 52 days of that day).
Companies Code · seven months
Where today falls in the filing period
25-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Purpose · NameName change · Amendment of…
  2. Annual accounts filedfinancial year 2025 · micro…
  3. Resignation: GULTEKIN Kennedy (director)Appointment: BEN ABDELKADER Yassine Ismaël…

Financials · financial year 2025, micro format

2025 annual accounts filed late (28 days) Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00447365.

Equity
€7,273▼ 17.6%
2024 · €8,821
Total assets
€22,387▲ 26.9%
2024 · €17,637
Net result
-€1,548▼ 174%
2024 · -€565
Working capital
€7,273▼ 17.6%
2024 · €8,821
Trend over the years

2023 to 2025, 3 financial years

The operating result stays negative: a loss of €1,502 in 2025 against €511 in 2024; the loss grows and 2025 has the lowest result in the available series.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result-€1,502 2025 Net result-€1,548 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line202320242025
Operating result-€67--€511▼ 669%-€1,502▼ 194%
Net result-€70within the sector's middle half--€565within the sector's middle half▼ 704%-€1,548within the sector's middle half▼ 174%
Equity€10,287within the sector's middle half-€8,821within the sector's middle half▼ 14.3%€7,273within the sector's middle half▼ 17.6%
Total assets€19,004below the sector's middle half-€17,637below the sector's middle half▼ 7.2%€22,387below the sector's middle half▲ 26.9%
Debt€8,716-€8,816▲ 1.1%€15,114▲ 71.4%
Working capital€10,287within the sector's middle half-€8,821within the sector's middle half▼ 14.3%€7,273within the sector's middle half▼ 17.6%
Solvency54.1%within the sector's middle half-50.0%within the sector's middle half▼ 4.1pp32.5%within the sector's middle half▼ 17.5pp
Current ratio2.18above the sector's middle half-2.00within the sector's middle half▼ 0.181.48within the sector's middle half▼ 0.52
Return on assets (ROA)-0.4%within the sector's middle half--3.2%within the sector's middle half▼ 2.8pp-6.9%below the sector's middle half▼ 3.7pp
above within below the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €22,387
Equity €7,273 ▼ 17.6%
Debt €15,114 ▲ 71.4%
Debt's share of the balance-sheet total rises from 50.0% to 67.5%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
Debt to equity
2.08▲
2024 · 1.00
ROE
-21.3%▼
2024 · -6.4%
Debt ≤ 1 year
€15,114▲
2024 · €8,816
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 24 lines
Balance sheet Code20242025
Assets
Total assets20/58€17,637€22,387▲
Current assets29/58€17,637€22,387▲
Amounts receivable within one year40/41€15,463€15,463=
Other amounts receivable41€15,463€15,463=
Cash at bank and in hand54/58€8€4,758▲
Deferred charges and accrued income490/1€2,166€2,166=
Equity and liabilities
Total equity and liabilities10/49€17,637€22,387▲
Equity10/15€8,821€7,273▼
Contributions10/11€15,000€15,000=
Profit (loss) carried forward14-€6,179-€7,727▼
Amounts payable17/49€8,816€15,114▲
Amounts payable within one year42/48€8,816€15,114▲
Trade debts44€428€126▼
Suppliers440/4€428€126▼
Other amounts payable47/48€8,388€14,988▲
Income statement Code20242025
Gross operating margin9900-€511-€1,502▼
Operating profit (loss)9901-€511-€1,502▼
Financial charges65/66B€54€47▼
Recurring financial charges65€54€47▼
Profit (loss) for the period before taxes9903-€565-€1,548▼
Profit (loss) for the period9904-€565-€1,548▼
Profit (loss) for the period to be appropriated9905-€565-€1,548▼
Appropriation of the result
Profit (loss) to be appropriated9906-€6,179-€7,727▼
Profit (loss) brought forward from the previous period14P-€5,614-€6,179▼

The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202320242025Change
Gross operating margin9900-€67-€511-€1,502▼ 194%
Operating profit (loss)9901-€67-€511-€1,502▼ 194%
Financial charges65/66B€4€54€47▼ 13.9%
Recurring financial charges65€4€54€47▼ 13.9%
Profit (loss) for the period before taxes9903-€70-€565-€1,548▼ 174%
Profit (loss) for the period9904-€70-€565-€1,548▼ 174%
Profit (loss) for the period to be appropriated9905-€70-€565-€1,548▼ 174%
Line202320242025Change
Assets
Total assets20/58€19,004€17,637€22,387▲ 26.9%
Current assets29/58€19,004€17,637€22,387▲ 26.9%
Amounts receivable within one year40/41€15,463€15,463€15,463=
Other amounts receivable41€15,463€15,463€15,463=
Cash at bank and in hand54/58€3,540€8€4,758▲ 604×
Deferred charges and accrued income490/1-€2,166€2,166=
Equity and liabilities
Total equity and liabilities10/49€19,004€17,637€22,387▲ 26.9%
Equity10/15€10,287€8,821€7,273▼ 17.6%
Contributions10/11€15,000€15,000€15,000=
Profit (loss) carried forward14-€4,713-€6,179-€7,727▼ 25.1%
Amounts payable17/49€8,716€8,816€15,114▲ 71.4%
Amounts payable within one year42/48€8,716€8,816€15,114▲ 71.4%
Trade debts44€428€428€126▼ 70.5%
Suppliers440/4€428€428€126▼ 70.5%
Other amounts payable47/48€8,288€8,388€14,988▲ 78.7%
Line202320242025Change
Profit (loss) for the period9904-€70-€565-€1,548▼ 174%
Operating cash flow (approximation)-€70-€565-€1,548▼ 174%
Change in cash--€3,533€4,750-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (3)
Financial year Type Filed Reference
31-12-2025 micro format 28-08-2026 2026-00447365
31-12-2024 micro format 07-07-2025 2025-00249725
31-12-2023 micro format 30-08-2024 2024-00454884

Similar companies · same sector, comparable size

Of the 21,392 active companies whose main activity is limited-service restaurants, excluding mobile food services (NACE 56112), figures are known for 9,862. 6,221 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
1 director, last change in 2026
BEN ABDELKADER Yassine Ismaël
Director (not named in the articles) · since 10-03-2026
Current
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ. See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
1 of this company's 3 Belgian Official Gazette deeds has not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.

Mandate history

2 people since 2026, 1 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
BEN ABDELKADER Yassine Ismaël
  • Director (not named in the articles), from 10-03-2026 to date
GULTEKIN Kennedy
  • Director, until 10-03-2026
See the board, name and registered office on a given date →

Owners and capital

Capital and shareholders

Capital over the years
  1. 10-03-2026 Capital increase of €10,000 · to €25,000 · no new shares · “dépôt au nom de la société”

Group and network

Connections & network

1 current director
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

History

APPYFLOWS was incorporated on 9 July 2019 as a besloten Vennootschap van publiek recht.1 Since 2026 the company has been called APPYFLOWS.2 The registered office was moved to Waterloo in 2026.3 In 2026 the capital was increased by €10,000 to €25,000.3 Total assets rose from €19,004 in 2023 to €22,387 in 2025.4

  1. 1KBO register
  2. 2Belgian Official Gazette, 20-10-2026
  3. 3Belgian Official Gazette, 10-03-2026
  4. 4National Bank, annual accounts 2023 and 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
20-10
Gazette deed Purpose · Name
Name change · Amendment of the articles · Purpose change7 facts ▸
  • General meeting, 06-10-2026
  • Name change, APPYFLOWS
  • Amendment of the articles, 1
  • Purpose change
  • Amendment of the articles
  • Power of attorney
  • Declaration, “voting, Toutes ces résolutions sont prises à l’unanimité” (deed in French)
28-08
NBB filing Annual accounts filed
financial year 2025 · micro format · 28 days late
10-03
Gazette deed Resignation: GULTEKIN Kennedy (director)
Appointment: BEN ABDELKADER Yassine Ismaël (director) · Capital increase · Capital13 facts ▸
  • General meeting, 04-03-2026
  • Capital increase, €10,000
  • Capital, €25,000
  • Other provision, “dénomination commerciale, ajout” (deed in French)
  • Registered-office move, Chaussée de Bruxelles 495 1410 Waterloo
  • Other provision, “suppression unité d’exploitation, suppression” (deed in French)
  • Purpose change
  • Amendment of the articles
  • Power of attorney, Tanguy le MAIRE
  • Director resignation, GULTEKIN Kennedy (director)
  • Director discharge, GULTEKIN Kennedy
  • Director appointment, BEN ABDELKADER Yassine Ismaël (director (not named in the articles))
  • +1 further fact in this act
2025
31-12
Financial Weakest financial yearnet -€1,548
Net result drops to -€1,548, the lowest in the series.
07-07
NBB filing Annual accounts filed
financial year 2024 · micro format
2024
30-08
NBB filing Annual accounts filed
financial year 2023 · micro format · 30 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
2 of 3 deeds read
About the unread acts

Of the 3 Belgian Official Gazette deeds we know for this company, 2 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.

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Register details

Identification
Legal formBesloten Vennootschap van publiek recht
Founded09-07-2019
Financial year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Contact
E-mail nexcorpbe@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID 0208:0729953110
Also 9925:BE0729953110

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 25 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2019
registered office establishment The establishment unit on the map
Ground area
2,475 m²
Building footprint
2,040 m²
Building volume
13,786 m³
2 parcels, Flanders, Wallonia · tallest building 14.2 m. Linked by address, not a title deed.
4 companies at this address See who is registered here
1 establishment unit
NEXCORP
Leuvensestraat 45, 1800 VilvoordeLimited-service restaurants, excluding mobile food services
since 2019unit no. 2.291.584.220
2 parcels
Flanders 1 (50%) Wallonia 1 (50%)
Cadastral parcel Region Area Buildings Height / floors
25764O0073/00A000 Wallonia 2,168 m² 1 · 1,588 m² 10.2 m · 2
23642D0726/00D002 Flanders 307 m² 1 · 452 m² 14.2 m · 1
How the parcels are linked
Good to know
Both parcels match the address exactly.

Articles of association

What the company does

PurposeThe activities the company may carry out under its articles.
“Les services de réservation de voyages pré-organisés, nationaux et internationaux; Les services de réservation de voyages organisés sur…” (deed in French)
6 activities (deed in French)
  1. Les services de réservation de voyages pré-organisés, nationaux et internationaux
  2. Les services de réservation de voyages organisés sur mesure pour les groupes, nationaux ou internationaux
  3. Les activités d'intermédiation dans la conclusion de contrats de prestation de services touristiques de voyagistes
  4. L'intermédiation de services de voyages organisés dans le pays de destination
  5. Voyages pré-organisés, nationaux et internationaux
  6. Les voyages organisés sur mesure pour les groupes, nationaux et internationaux

The full purpose is in the deed

Name clauseThe name the company operates under according to its articles.
NEXCORP
Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
“Faire constater authentiquement la modification statutaire éventuelle, Région Wallonne” (deed in French)

deed of 10-03-2026