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FLANDERS ROAD SERVICES

Active
Public limited companyfounded 197056 years activeKarveelstraat 7, 8380 Brugge, BelgiumKBO/BCE: BE 0407.241.236
Summary

FLANDERS ROAD SERVICES has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324,379 and a net result of -€13,168. Equity is shrinking by ~12.8% per year across the filed fiscal years. Its solvency ranks better than 10% of 1,060 sector peers (NACE 49, fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).

Overview

Activity
Freight transport by road
NACE 49410
1 site
Size
€35.2mturnover 2025
Staff
51.6 FTE
Equity
€324,379
Loss
-€13,168
Financial health
62 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
1.5%
Structure
Parent
FLANDERS ROAD LOGISTICS · 100%
Auditor: Auditas BedrijfsrevisorenAccounts 14 days early1 of 14 deeds read
Why 62- Equity €324,379 (3.7% of total assets)- Liquidity: current ratio 0.48, cash €163,501, halved- Sector Land transport and transport via pipelines (NACE 49)- Loss of €13,168, the second in a row (FY 2025)Show the evidence

Checked score

Score 2025
62 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 18% of its sector peers (NACE 49, medium-sized)
Financial strength · tick = 2024
Weak
Solvency 29=
equity 3.7% of total assets
Liquidity 7-5
short-term debt 82.6% · cash 1.9%
Profitability 56+3
return on assets -0.1%
Bankruptcy probability, 12 months
1.5% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (274 companies)
Last 24 months 11-2024: 2.3% 12-2024: 2.3%● unchanged vs 11-2024 01-2025: 2.3%● unchanged vs 12-2024 02-2025: 2.2%▼ -0.1 percentage points vs 01-2025 03-2025: 2.2%● unchanged vs 02-2025 04-2025: 2.2%● unchanged vs 03-2025 05-2025: 2.2%● unchanged vs 04-2025 06-2025: 2.2%● unchanged vs 05-2025 07-2025: 2.5%▲ +0.3 percentage points vs 06-2025highest value 08-2025: 1.2%▼ -1.3 percentage points vs 07-2025 09-2025: 1.2%● unchanged vs 08-2025 10-2025: 1.2%● unchanged vs 09-2025 11-2025: 1.2%● unchanged vs 10-2025 12-2025: 1.2%● unchanged vs 11-2025 01-2026: 1.2%● unchanged vs 12-2025 02-2026: 1.2%● unchanged vs 01-2026lowest value 03-2026: 1.2%● unchanged vs 02-2026lowest value 04-2026: 1.2%● unchanged vs 03-2026lowest value 05-2026: 1.2%● unchanged vs 04-2026 06-2026: 1.2%● unchanged vs 05-2026 07-2026: 1.2%● unchanged vs 06-2026 08-2026: 1.5%▲ +0.3 percentage points vs 07-2026 09-2026: 1.5%● unchanged vs 08-2026 10-2026: 1.5%● unchanged vs 09-2026
Credit up to €20,000 at 30 days acceptable
Liquidity short (current ratio 0.48 against 0.84 in 2024; short-term debt: 82.6% and cash: 1.9% of total assets), and 96.3% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, medium-sized): better than 11% on solvency, 8% on liquidity, 28% on profitability and 27% on growth.

The bankruptcy probability was computed on 07-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
+raises risk○neutral
raises risk · Equity €324,379 (3.7% of total assets)
NBB · annual accounts
raises risk · Liquidity: current ratio 0.48, cash €163,501, halved
NBB · annual accounts
raises risk · Sector Land transport and transport via pipelines (NACE 49)
KBO
raises risk · Loss of €13,168, the second in a row (FY 2025)
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€13,168
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1060 sector peers (2025).
NBB · sector comparison
Position among 1060 sector peers
Solvency
better than 10%
← weakest strongest →
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
14 days early
2024
13 days early
2023
30 days late
2022
30 days late
2021
31 days late
2020
31 days late
2019
31 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 18 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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. Usually files around 30 August (4 of the last 5 filed years within 43 days of that day).
Companies Code · seven months
Position in the running window
08-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Reappointment: Auditas Bedrijfsrevisoren BV (statutory auditor)Permanent representatives: Sven Vansteelant and…
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Risk: 7 loss-making years in a rowloss fiscal year 2025 -€13,168 View
  • Positive: Result rose in 2025from -€256,551 to -€13,168 ▲ 94.9% View
  • Caution: Among the weakest 10% on solvencysector median 40.8% · 1,060 companies 3.7% View
  • Controlled by FLANDERS ROAD LOGISTICSultimately: FLANDERS ROAD INTERMODAL 100% View
  • Active since 1970founded 08-08-1970 56 years View
  • Flemish supportawarded 2022 - 2025 €85,047 View

By topic

Financials

Fiscal year
2025
Turnover
€35.2m
Loss
-€13,168
Solvency
3.7%
Turnover▼ 2.2%
Net result
20182025
Go to Financials

Timeline

Events
12
Since
2017
Next accounts
by 31-07-2027
  1. 31-12-2024Weakest financial year
  2. 30-08-2024Annual accounts filed
  3. 30-08-2023Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Freight transport by roadNACE 49410
Founded
08-08-1970
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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