FLASHBAG
ActiveSummary
The computed 12-month bankruptcy probability of FLASHBAG is 9.1% (elevated). For FLASHBAG, at least two annual filings are missing. The 2023 annual accounts show negative equity (-€100,947) and a net result of -€17,946. Equity has been shrinking by about 10% per year since 2018. Its solvency ranks better than 5% of 14,746 sector peers (NACE 46, financial year 2023). The company has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-02-1993 Normal situation
- Activity
- Non-specialised wholesale trade NACE 46900
- Establishment unit
- 2.061.162.106 3090 Overijse, since 09-03-1993
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
- Bankruptcy probabilitywithin 12 months
- 9.1%
2023 figures too old to score
Annual accounts 2023
- Gross margin
- -€14,263
- Loss
- €17,946
- Equity
- -€100,947
- ▼ 22.7%
- Total assets
- €14,744
- ▲ 0.4%
- Negative equity on 31-12-2023
- 2024 accounts not filed, 461 days past the deadline
Turnover not published (micro format)
Signalsraises riskFigures for financial year 2023 (filed on 10-10-2024)2 financial years not filed after the legal deadline; last filed accounts filed 69 days late; 2 of the last 3 accounts lateTwo or more financial years not filed2023 accounts filed 69 days latelowers riskFounded in 1993Size: total assets €14,744Show the evidence
Bankruptcy probability
No current score
Figures too old
The latest figures are for FY 2023. They are too old for a current score.
Bankruptcy probability: Elevated
Filing: At least two annual filings are missing
Financial strength, FY 2023 · tick: 2022
Weak
Solvency
0=
equity -684.7% of total assets
Liquidity
10-40
short-term debt 445.5% · cash 8.3%
Profitability
0-100
return on assets -121.7%
Bankruptcy probability within 12 months
9.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 9 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.0%
01-2025: 2.0%● unchanged vs 12-2024
02-2025: 2.0%● unchanged vs 01-2025
03-2025: 2.0%● unchanged vs 02-2025
04-2025: 2.0%● unchanged vs 03-2025
05-2025: 1.8%▼ -0.2 percentage points vs 04-2025
06-2025: 1.8%● unchanged vs 05-2025lowest value
07-2025: 2.1%▲ +0.3 percentage points vs 06-2025
08-2025: 2.4%▲ +0.3 percentage points vs 07-2025
09-2025: 2.2%▼ -0.2 percentage points vs 08-2025
10-2025: 2.4%▲ +0.2 percentage points vs 09-2025
11-2025: 2.5%▲ +0.1 percentage points vs 10-2025
12-2025: 3.4%▲ +0.9 percentage points vs 11-2025
01-2026: 6.3%▲ +2.9 percentage points vs 12-2025
02-2026: 6.3%● unchanged vs 01-2026
03-2026: 6.6%▲ +0.3 percentage points vs 02-2026
04-2026: 6.1%▼ -0.5 percentage points vs 03-2026
05-2026: 6.1%● unchanged vs 04-2026
06-2026: 6.1%● unchanged vs 05-2026
07-2026: 6.1%● unchanged vs 06-2026
08-2026: 8.4%▲ +2.3 percentage points vs 07-2026
09-2026: 8.4%● unchanged vs 08-2026
10-2026: 9.1%▲ +0.7 percentage points vs 09-2026highest value
11-2026: 9.1%● unchanged vs 10-2026highest value
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 year end31-07-2025 deadline04-11-2026 today
raises risk · 2023 accounts filed 69 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 08-10-2024, 69 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 · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
69 days late
2022
66 days late
2021
20 days early
2020
60 days late
2019
115 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 58 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 4 November 2026.
Annual accounts 2023 filed on 08-10-2024 PDF all 31 filings
Equity
-€100,947▼ 22.7%
2022 · -€82,286
Total assets
€14,744▲ 0.4%
2022 · €14,685
Net result
-€17,946
2022 · €7,683
Working capital
-€63,364▼ 95.9%
2022 · -€32,339
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€17,665
2023
20182023
Net result
-€17,946
2023
lowest quarter of the sector
20182023
Equity
-€100,947
▼ 22.7%
2023
lowest quarter of the sector
20182023
Total assets
€14,744
▲ 0.4%
2023
lowest quarter of the sector
20182023
Debt
€115,691
▲ 19.3%
2023
20182023
Working capital
-€63,364
▼ 95.9%
2023
lowest quarter of the sector
20182023
Solvency
-684.7%
▼ 124.3pp
2023
lowest quarter of the sector
20182023
Current ratio
0.04
▼ 0.28
2023
lowest quarter of the sector
20182023
Return on assets (ROA)
-121.7%
▼ 174.0pp
2023
lowest quarter of the sector
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result-€24,735--€6,645▲ 73.1%-€5,422▲ 18.4%-€13,009▼ 140%€7,774-€17,665
Net result-€25,303--€6,949▲ 72.5%-€5,454below the sector's middle half▲ 21.5%-€13,026below the sector's middle half▼ 139%€7,683within the sector's middle half-€17,946below the sector's middle half
Equity-€59,540--€66,488▼ 11.7%-€76,943below the sector's middle half▼ 15.7%-€89,969below the sector's middle half▼ 16.9%-€82,286below the sector's middle half▲ 8.5%-€100,947below the sector's middle half▼ 22.7%
Total assets€3,712-€7,206▲ 94.1%€13,693below the sector's middle half▲ 90.0%€14,442below the sector's middle half▲ 5.5%€14,685below the sector's middle half▲ 1.7%€14,744below the sector's middle half▲ 0.4%
Debt€63,252-€73,694▲ 16.5%€90,635▲ 23.0%€104,411▲ 15.2%€96,970▼ 7.1%€115,691▲ 19.3%
Working capital-€11,799--€17,606▼ 49.2%-€27,757below the sector's middle half▼ 57.7%-€40,140below the sector's middle half▼ 44.6%-€32,339below the sector's middle half▲ 19.4%-€63,364below the sector's middle half▼ 95.9%
Solvency-922.7%-561.9%below the sector's middle half▲ 360.8pp-622.9%below the sector's middle half▼ 61.0pp-560.3%below the sector's middle half▲ 62.6pp-684.7%below the sector's middle half▼ 124.3pp
Current ratio0.250.32below the sector's middle half▲ 0.060.26below the sector's middle half▼ 0.050.31below the sector's middle half▲ 0.050.04below the sector's middle half▼ 0.28
Return on assets (ROA)-96.4%-39.8%below the sector's middle half▲ 56.6pp-90.2%below the sector's middle half▼ 50.4pp52.3%above the sector's middle half▲ 142.5pp-121.7%below the sector's middle half▼ 174.0pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2023 is a loss of €17,665, after a profit of €7,774 in 2022. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €14,744
Fixed assets
€12,416 ▲ 232×
Current assets
€2,328 ▼ 84.1%
Equity and liabilities
Equity-€100,947
Debt€115,691
Equity is negative. Debt (€115,691) exceeds the balance-sheet total (€14,744).
Key figures and ratios
EBITDA
-€15,005▼
2022 · €7,892
Cash flow
-€15,285▼
2022 · €7,801
Interest coverage
-110.78▼
2022 · 86.31
Debt ≤ 1 year
€65,691▲
2022 · €46,970
Debt > 1 year
€50,000=
2022 · €50,000
Income taxes
€145
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | - | €15,023 |
| Depreciation and write-downs of the year | €643 | €118 | €2,660 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,100 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,071 | €1,071 | €728 | €643 | €118 | €2,660 | ▲ 23× |
| Other operating charges640/8 | - | - | - | €1,604 | €1,118 | €741 | ▼ 33.7% |
| Gross operating margin9900 | -€21,512 | -€4,169 | -€4,296 | -€10,762 | €9,011 | -€14,263 | - |
| Operating profit (loss)9901 | -€24,735 | -€6,645 | -€5,422 | -€13,009 | €7,774 | -€17,665 | - |
| Financial income75/76B | - | - | - | €18 | €0 | - | - |
| Recurring financial income75 | - | - | - | €18 | €0 | - | - |
| Financial charges65/66B | - | - | - | €35 | €91 | €135 | ▲ 48.1% |
| Recurring financial charges65 | €568 | €48 | €32 | €35 | €91 | €135 | ▲ 48.1% |
| Profit (loss) for the period before taxes9903 | -€25,303 | -€6,692 | -€5,454 | -€13,026 | €7,683 | -€17,800 | - |
| Income taxes67/77 | - | €256 | - | - | - | €145 | - |
| Profit (loss) for the period9904 | -€25,303 | -€6,949 | -€5,454 | -€13,026 | €7,683 | -€17,946 | - |
| Profit (loss) for the period to be appropriated9905 | -€25,303 | -€6,949 | -€5,454 | -€13,026 | €7,683 | -€17,946 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €3,712 | €7,206 | €13,693 | €14,442 | €14,685 | €14,744 | ▲ 0.4% |
| Fixed assets21/28 | €2,260 | €1,189 | €814 | €171 | €53 | €12,416 | ▲ 232× |
| Tangible fixed assets22/27 | €2,260 | €1,189 | €814 | €171 | €53 | €12,416 | ▲ 232× |
| Furniture and vehicles24 | - | - | - | €171 | €53 | €12,416 | ▲ 232× |
| Current assets29/58 | €1,453 | €6,017 | €12,879 | €14,271 | €14,631 | €2,328 | ▼ 84.1% |
| Amounts receivable within one year40/41 | €219 | €1,274 | €1,350 | €7,263 | €7,500 | €1,103 | ▼ 85.3% |
| Trade receivables40 | - | - | - | €7,260 | €7,381 | - | - |
| Other amounts receivable41 | - | - | - | €3 | €119 | €1,103 | ▲ 830% |
| Cash at bank and in hand54/58 | €907 | €4,743 | €11,529 | €6,314 | €6,438 | €1,225 | ▼ 81.0% |
| Deferred charges and accrued income490/1 | - | - | - | €694 | €694 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €3,712 | €7,206 | €13,693 | €14,442 | €14,685 | €14,744 | ▲ 0.4% |
| Equity10/15 | -€59,540 | -€66,488 | -€76,943 | -€89,969 | -€82,286 | -€100,947 | ▼ 22.7% |
| Contributions10/11 | €6,205 | €6,205 | - | €1,205 | €1,205 | €1,205 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€67,604 | -€74,553 | -€80,007 | -€93,033 | -€85,350 | -€104,012 | ▼ 21.9% |
| Amounts payable17/49 | €63,252 | €73,694 | €90,635 | €104,411 | €96,970 | €115,691 | ▲ 19.3% |
| Amounts payable after more than one year17 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Other amounts payable178/9 | - | - | - | €50,000 | €50,000 | €50,000 | = |
| Amounts payable within one year42/48 | €13,252 | €23,623 | €40,635 | €54,411 | €46,970 | €65,691 | ▲ 39.9% |
| Trade debts44 | €2,942 | €941 | €5,599 | €79 | €2,728 | €736 | ▼ 73.0% |
| Suppliers440/4 | - | - | - | €79 | €2,728 | €736 | ▼ 73.0% |
| Taxes, remuneration and social security45 | - | - | - | €17,423 | €11,093 | €145 | ▼ 98.7% |
| Taxes450/3 | - | - | - | €4,002 | €3,601 | €145 | ▼ 96.0% |
| Remuneration and social security454/9 | - | - | - | €13,422 | €7,491 | - | - |
| Other amounts payable47/48 | - | - | - | €36,909 | €33,149 | €64,810 | ▲ 95.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,303 | -€6,949 | -€5,454 | -€13,026 | €7,683 | -€17,946 | - |
| + Depreciation and write-downs630 | €1,071 | €1,071 | €728 | €643 | €118 | €2,660 | ▲ 23× |
| Operating cash flow (approximation) | -€24,232 | -€5,878 | -€4,726 | -€12,383 | €7,801 | -€15,285 | - |
| Investment in fixed assets (approximation) | - | €0 | -€354 | €0 | €0 | -€15,023 | - |
| Change in cash | - | €3,836 | €6,785 | -€5,215 | €124 | -€5,213 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 08-10-2024 | 2024-00503993 | |
| 31-12-2022 | micro format | 05-10-2023 | 2023-00478734 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20181527 | |
| 31-12-2020 | micro format | 29-09-2021 | 2021-69900015 | |
| 31-12-2019 | micro format | 23-11-2020 | 2020-72000039 | |
| 31-12-2018 | micro format | 30-09-2019 | 2019-67400015 | |
| 31-12-2017 | micro format | 27-07-2018 | 2018-40400354 | |
| 31-12-2016 | micro format | 28-07-2017 | 2017-37800519 | |
| 31-12-2015 | abbreviated format | 04-08-2016 | 2016-40300205 | |
| 31-12-2014 | full format | 23-12-2015 | 2015-70300160 |
Board & ownership
Directors
Directors
1 director
DE GREEF Alain
Current
Owners and capital
Owners
Network & group
FLASHBAG shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of FLASHBAG. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2024
08-10
micro format · 69 days late
2023
05-10
micro format · 66 days late
2022
31-12
Financial
Back to profitnet €7,683
The net result is €7,683, after 4 loss-making years.
11-07
micro format · 20 days before the deadline
2021
29-09
micro format · 60 days late
2020
23-11
micro format · 115 days late
2019
30-09
micro format · 61 days late
2018
27-07
micro format · 4 days before the deadline
2017
28-07
micro format · 3 days before the deadline
2016
04-08
abbreviated format · 4 days late
2015
23-12
full format · 145 days late
1993
25-02
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
FLASHBAG in Dutch
Enterprise number
0449.341.909
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
05-02-1993
Entity type
Legal entity
Registered office and establishments
Registered office
Schoolstraat 8, 3090 Overijse, Belgium
Establishment unit
Schoolstraat 8, 3090 Overijse since 09-03-1993 · unit number 2.061.162.10656112 Limited-service restaurants, excluding mobile food services
Activities
NACEBEL 202546900
Non-specialised wholesale trade main activity
Codes under NACEBEL 2008
46900
Non-specialised wholesale trade main activity
Codes under NACEBEL 2003
51900
main activity
Invoicing and payment
VAT number
BE 0449.341.909
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
759 m²
Building footprint
101 m²
Building volume
539 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23543K0114/00H002 | Flanders | 759 m² | 1 · 101 m² | 7.4 m · 2 |