Flagship
ActiveSummary
Flagship has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €390,296. Equity is growing by ~39.3% per year across the filed fiscal years. Its solvency ranks better than 72% of 972 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▼-20
Solvency94▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 1.0 against 1.08 in 2024; short-term debt: 16.6% and cash: 2.2% of total assets), and 31.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
68.9%
Return on assets
25.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-07-2026, 27 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
27 d early
2024
1 d early
2023
13 d early
2022
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#3 company by equity in Beerse, Transport and storage sector#7 company by total assets in Beerse, Transport and storage sector
Equity
€1.1m▲ 34.4%
2024 · €791,643
Total assets
€1.5m▼ 1.1%
2024 · €1.6m
Net result
€390,296▲ 6.0%
2024 · €368,238
Working capital
-€1,064
2024 · €19,927
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
Line2022202320242025
Operating result€134,834-€66,212▼ 50.9%€109,597▲ 65.5%€10,463▼ 90.5%
Net result€118,766-€466,528▲ 293%€368,238▼ 21.1%€390,296▲ 6.0%
Equity€246,377-€594,905▲ 141%€791,643▲ 33.1%€1.1m▲ 34.4%
Total assets€1.4m-€1.6m▲ 9.5%€1.6m=€1.5m▼ 1.1%
Debt€1.2m-€967,670▼ 18.0%€770,782▼ 20.3%€481,019▼ 37.6%
Working capital-€129,351-€47,098€19,927▼ 57.7%-€1,064
Staff (FTE)1-11=
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2023 Net result +293%, Equity +141% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 90% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.3m ▼ 1.3%
Current assets
€254,872 ▼ 0.1%
Equity and liabilities €1.5m
Equity
€1.1m ▲ 34.4%
Debt
€481,019 ▼ 37.6%
Debt's share of the balance-sheet total falls from 49.3% to 31.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€22,297▼
2024 · €120,957
Cash flow
€402,130▲
2024 · €379,598
Current ratio
1.00▼
2024 · 1.08
Debt to equity
0.45▼
2024 · 0.97
ROE
36.7%▼
2024 · 46.5%
ROA
25.3%▲
2024 · 23.6%
Interest coverage
0.85▼
2024 · 3.40
Debt ≤ 1 year
€255,936▲
2024 · €235,111
Debt > 1 year
€225,083▼
2024 · €498,787
Income taxes
€2,172▼
2024 · €22,128
Staff costs
€43,311▲
2024 · €41,563
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €7,327 | - |
| Remuneration, social security and pensions62 | €12,370 | €43,871 | €41,563 | €43,311 | ▲ 4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,668 | €8,773 | €11,360 | €11,834 | ▲ 4.2% |
| Other operating charges640/8 | €1,642 | €1,182 | €922 | €2,055 | ▲ 123% |
| Gross operating margin9900 | €152,514 | €120,038 | €163,442 | €67,664 | ▼ 58.6% |
| Operating profit (loss)9901 | €134,834 | €66,212 | €109,597 | €10,463 | ▼ 90.5% |
| Financial income75/76B | €56,953 | €450,608 | €316,393 | €408,144 | ▲ 29.0% |
| Recurring financial income75 | €56,953 | €450,608 | €316,393 | €408,144 | ▲ 29.0% |
| Financial charges65/66B | €31,168 | €37,719 | €35,624 | €26,139 | ▼ 26.6% |
| Recurring financial charges65 | €31,168 | €37,719 | €35,624 | €26,139 | ▼ 26.6% |
| Profit (loss) for the period before taxes9903 | €160,619 | €479,101 | €390,365 | €392,468 | ▲ 0.5% |
| Income taxes67/77 | €41,853 | €12,573 | €22,128 | €2,172 | ▼ 90.2% |
| Profit (loss) for the period9904 | €118,766 | €466,528 | €368,238 | €390,296 | ▲ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €118,766 | €466,528 | €368,238 | €390,296 | ▲ 6.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.4m | €1.6m | €1.6m | €1.5m | ▼ 1.1% |
| Fixed assets21/28 | €1.3m | €1.2m | €1.3m | €1.3m | ▼ 1.3% |
| Tangible fixed assets22/27 | €23,931 | €16,519 | €75,690 | €58,741 | ▼ 22.4% |
| Land and buildings22 | - | - | €34,308 | €30,670 | ▼ 10.6% |
| Plant, machinery and equipment23 | - | - | €817 | €544 | ▼ 33.3% |
| Furniture and vehicles24 | €19,821 | €13,409 | €38,456 | €26,417 | ▼ 31.3% |
| Other tangible fixed assets26 | €4,110 | €3,110 | €2,110 | €1,110 | ▼ 47.4% |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €169,263 | €314,358 | €255,037 | €254,872 | ▼ 0.1% |
| Amounts receivable within one year40/41 | €148,292 | €146,410 | €222,547 | €207,970 | ▼ 6.6% |
| Trade receivables40 | €65,802 | €48,000 | €100,424 | €64,788 | ▼ 35.5% |
| Other amounts receivable41 | €82,490 | €98,410 | €122,124 | €143,182 | ▲ 17.2% |
| Current investments50/53 | - | - | - | €12,500 | - |
| Cash at bank and in hand54/58 | €20,972 | €167,948 | €31,378 | €33,353 | ▲ 6.3% |
| Deferred charges and accrued income490/1 | €0 | - | €1,112 | €1,050 | ▼ 5.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.4m | €1.6m | €1.6m | €1.5m | ▼ 1.1% |
| Equity10/15 | €246,377 | €594,905 | €791,643 | €1.1m | ▲ 34.4% |
| Contributions10/11 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €246,277 | €594,805 | €423,305 | €423,305 | = |
| Distributable reserves133 | €246,277 | €594,805 | €423,305 | €423,305 | = |
| Profit (loss) carried forward14 | - | €0 | €368,238 | €640,887 | ▲ 74.0% |
| Amounts payable17/49 | €1.2m | €967,670 | €770,782 | €481,019 | ▼ 37.6% |
| Amounts payable after more than one year17 | €873,865 | €700,409 | €498,787 | €225,083 | ▼ 54.9% |
| Financial debts170/4 | €873,865 | €700,409 | €498,787 | €225,083 | ▼ 54.9% |
| Amounts payable within one year42/48 | €298,614 | €267,261 | €235,111 | €255,936 | ▲ 8.9% |
| Current portion of amounts payable after more than one year42 | €243,429 | €214,110 | €216,205 | €244,279 | ▲ 13.0% |
| Financial debts43 | - | €14,734 | €0 | - | - |
| Credit institutions430/8 | - | €14,734 | €0 | - | - |
| Trade debts44 | €30,724 | €2,165 | €13,081 | €5,603 | ▼ 57.2% |
| Suppliers440/4 | €30,724 | €2,165 | €13,081 | €5,603 | ▼ 57.2% |
| Taxes, remuneration and social security45 | €19,304 | €29,029 | €5,824 | €6,054 | ▲ 3.9% |
| Taxes450/3 | €17,629 | €17,836 | €0 | - | - |
| Remuneration and social security454/9 | €1,675 | €11,193 | €5,824 | €6,054 | ▲ 3.9% |
| Other amounts payable47/48 | €5,158 | €7,222 | €0 | - | - |
| Accrued charges and deferred income492/3 | €8,013 | €0 | €36,884 | €0 | ▼ 100% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €118,766 | €466,528 | €368,238 | €390,296 | ▲ 6.0% |
| + Depreciation and write-downs630 | €3,668 | €8,773 | €11,360 | €11,834 | ▲ 4.2% |
| Operating cash flow (approximation) | €122,433 | €475,301 | €379,598 | €402,130 | ▲ 5.9% |
| Investment in fixed assets (approximation) | - | €617 | -€70,532 | €5,115 | ▲ 107% |
| Change in cash | - | €146,977 | -€136,570 | €1,975 | ▲ 101% |
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
Next filing, fiscal year 2026, expected by
2026
04-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €1mEq €1.1m ▲34.4%
4 profitable years in a row build equity to €1.1m.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €466,528 ▲293%
Net result €466,528, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 1.18
Current ratio from 0.57 to 1.18; short-term debt falls from €298,614 to €267,261.
31-12
Financial
Equity above €500,000Eq €594,905 ▲141%
2 profitable years in a row build equity to €594,905.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Directors · office · real estate
Directors
2 acts for this company are 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, Beerse · 1 establishment unit since 2019
Ground area
1,957 m²
Building footprint
248 m²
Volume, LiDAR
1,699 m³
Parcel 13004C0385/00T012, Flanders · tallest building 15.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Flagship
since 20192.295.304.862
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13004C0385/00T012 | Flanders | 1,957 m² | 1 · 248 m² | 15.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
10.03%
According to the 2025 annual accounts of Flagship 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.
Recognitions · licences · registrations
Legal Entity Identifier
699400R0AT9DJ6OK5H89
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Of 3,187 companies in sector 52250 we hold annual accounts for 1,956. 1,220 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0736982739
Registered
19-09-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.