Fags with Flags
ActiveFags with Flags has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €108k and a net result of €31k. Equity is growing by ~47.1% per year across the filed fiscal years. Its solvency ranks better than 80% of 2464 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
93
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability97▼-3
Solvency100=
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 5.22 against 4.02 in 2023; short-term debt: 15.6% and cash: 63.7% of total assets), and 20.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
55 d late
2022
50 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€108k▲ 40.1%
2023 · €77k
2022: €35k
2023: €77k
2022 → 2024
Total assets
€136k▲ 39.4%
2023 · €98k
2022: €60k
2023: €98k
2022 → 2024
Net result
€31k▼ 26.0%
2023 · €42k
2022: €32k
2023: €42k
2022 → 2024
Working capital
€90k▲ 48.7%
2023 · €60k
2022: €19k
2023: €60k
2022 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€35k-€77k▲ 118%€108k▲ 40.1%
Operating result€44k-€55k▲ 23.3%€42k▼ 24.1%
Net result€32k-€42k▲ 29.1%€31k▼ 26.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 24% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €136k
Fixed assets
€25k▲ 45.1%
Current assets
€111k▲ 38.2%
Equity and liabilities €136k
Equity
€108k▲ 40.1%
Debt
€28k▲ 36.9%
The debt ratio falls from 20.9% to 20.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€47k▼
2023 · €58k
Cash flow
€37k▼
2023 · €45k
Solvency
79.5%▲
2023 · 79.1%
Current ratio
5.22▲
2023 · 4.02
Quick ratio
5.22▲
2023 · 4.02
Debt / equity
0.26▼
2023 · 0.26
ROE
28.6%▼
2023 · 54.2%
ROA
22.7%▼
2023 · 42.8%
Interest coverage
132.79▼
2023 · 243.47
Debt
€28k▲
2023 · €20k
Debt ≤ 1 year
€21k▲
2023 · €20k
Debt > 1 year
€7k
Income taxes
€10k▼
2023 · €13k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€98k€136k▲
Fixed assets21/28€17k€25k▲
Tangible fixed assets22/27€17k€25k▲
Plant, machinery and equipment23€4k€4k▲
Furniture and vehicles24€4k€11k▲
Other tangible fixed assets26€10k€11k▲
Current assets29/58€80k€111k▲
Amounts receivable within one year40/41€33k€24k▼
Trade receivables40€6k€147▼
Other amounts receivable41€27k€24k▼
Cash at bank and in hand54/58€47k€87k▲
Equity and liabilities
Total equity and liabilities10/49€98k€136k▲
Equity10/15€77k€108k▲
Contributions10/11€3k€3k=
Reserves13€74k€105k▲
Distributable reserves133€74k€105k▲
Amounts payable17/49€20k€28k▲
Amounts payable after more than one year17-€7k
Financial debts170/4-€7k
Amounts payable within one year42/48€20k€21k▲
Current portion of amounts payable after more than one year42-€2k
Trade debts44€9k€10k▲
Suppliers440/4€9k€10k▲
Taxes, remuneration and social security45€10k€9k▼
Taxes450/3€9k€9k▲
Remuneration and social security454/9€2k-
Other amounts payable47/48€696€373▼
Accrued charges and deferred income492/3€480-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€6k▲
Other operating charges640/8€723€720▼
Gross operating margin9900€59k€48k▼
Operating profit (loss)9901€55k€42k▼
Financial income75/76B€0€27▲
Recurring financial income75€0€27▲
Financial charges65/66B€238€355▲
Recurring financial charges65€238€355▲
Profit (loss) for the period before taxes9903€54k€41k▼
Income taxes67/77€13k€10k▼
Profit (loss) for the period9904€42k€31k▼
Profit (loss) for the period to be appropriated9905€42k€31k▼
Appropriation of the result
Profit (loss) to be appropriated9906€42k€31k▼
Transfer to equity691/2€42k€31k▼
To other reserves6921€42k€31k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Weakest financial yearnet €31k ▼26%
Net result drops to €31k, the lowest in the series.
31-12
Financial
Equity above €100kEq €108k ▲40.1%
3 profitable years in a row build equity to €108k.
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 55 days late
2023
31-12
Financial
Highest result since 2022net €42k ▲29.1%
Operating result €55k, net result €42k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.02
Current ratio from 1.79 to 4.02; short-term debt falls from €24k to €20k.
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 50 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2021
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.
Van Luppenstraat 50/A2018 AntwerpenGround area
2,235 m²
Building footprint
1,374 m²
Volume, LiDAR
6,081 m³
Parcel 11806F1302/00Z011, Flanders · tallest building 38.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Fags with Flags
since 20212.322.840.984
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11806F1302/00Z011 | Flanders | 2,235 m² | 1 · 1,374 m² | 38.1 m · 1 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.
Similar companies · same sector, comparable size
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VIRGINIE
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AMARILLO
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THE LATEM GALLERY
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Of 6,655 companies in sector 90111 we hold annual accounts for 383. 288 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-07-2021
Fiscal year end31-12
Activities, NACEBEL
90031Arts creation and performing arts activities
90111Literary creation
74105Other professional, scientific and technical activities
74140Other specialised design activities
82990Other business support services
85599Other education
90201Performing arts by independent artists
90029Arts creation and performing arts activities
90399Other support activities for arts and performing arts
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryWebsite:www.fagswithflags.com