Summary
FLAVYCOM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €477,141 and a net result of €38,324. Equity is shrinking by about 5.3% per year across the filed financial years. Its solvency ranks better than 45% of 2,997 sector peers (NACE 64, financial year 2025). The company has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
Equity
€477,141▲ 8.7%
2024 · €438,817
Net result
€38,324▼ 48.4%
2024 · €74,238
Total assets
€858,939▲ 1.3%
2024 · €847,635
Solvency
55.6%▲ 3.8pp
2024 · 51.8%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 19% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.01m
2025
Net result€0.04m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.9m
2025
Equity€0.5m
2025
Debt€0.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.09m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency55.6%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.76
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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
Line20182019202020212022202320242025
Operating result€0.05m-€0.04m▼ 13.4%€0.02m▼ 50.2%€0.02m▲ 7.3%€0.02m▼ 8.9%€0.02m▼ 16.3%€0.01m▼ 35.4%€0.01m▲ 19.4%
Net result€0.4m-€0.1m▼ 69.3%€0.009mwithin the sector's middle half▼ 92.3%€0.07mwithin the sector's middle half▲ 683%€0.02mwithin the sector's middle half▼ 76.7%€0.009mwithin the sector's middle half▼ 43.1%€0.07mwithin the sector's middle half▲ 688%€0.04mwithin the sector's middle half▼ 48.4%
Equity€0.7m-€0.8m▲ 15.4%€0.9mwithin the sector's middle half▲ 1.1%€0.9mwithin the sector's middle half▲ 2.5%€0.8mwithin the sector's middle half▼ 12.5%€0.7mwithin the sector's middle half▼ 2.6%€0.4mwithin the sector's middle half▼ 41.4%€0.5mbelow the sector's middle half▲ 8.7%
Total assets€1.2m-€1.2m▼ 0.2%€1.1mwithin the sector's middle half▼ 12.3%€1.0mwithin the sector's middle half▼ 4.3%€0.9mwithin the sector's middle half▼ 10.9%€0.9mwithin the sector's middle half▼ 1.1%€0.8mwithin the sector's middle half▼ 6.5%€0.9mbelow the sector's middle half▲ 1.3%
Debt€0.5m-€0.4m▼ 23.4%€0.2m▼ 42.3%€0.2m▼ 31.0%€0.1m▼ 1.7%€0.2m▲ 6.5%€0.4m▲ 159%€0.4m▼ 6.6%
Working capital€0.1m-€0.3m▲ 98.4%€0.3mabove the sector's middle half▲ 2.2%€0.3mabove the sector's middle half▲ 5.8%€0.2mwithin the sector's middle half▼ 35.7%€0.2mwithin the sector's middle half▼ 9.1%-€0.1mwithin the sector's middle half-€0.09mwithin the sector's middle half▲ 27.0%
Solvency59.7%-69.1%▲ 9.4pp79.7%above the sector's middle half▲ 10.6pp85.4%above the sector's middle half▲ 5.7pp83.8%above the sector's middle half▼ 1.5pp82.6%above the sector's middle half▼ 1.2pp51.8%within the sector's middle half▼ 30.8pp55.6%within the sector's middle half▲ 3.8pp
Current ratio1.30-1.79▲ 0.502.42within the sector's middle half▲ 0.633.16above the sector's middle half▲ 0.732.38within the sector's middle half▼ 0.772.19within the sector's middle half▼ 0.190.70within the sector's middle half▼ 1.490.76within the sector's middle half▲ 0.07
Return on assets (ROA)31.3%-9.6%▼ 21.6pp0.8%within the sector's middle half▼ 8.8pp6.9%within the sector's middle half▲ 6.1pp1.8%within the sector's middle half▼ 5.1pp1.0%within the sector's middle half▼ 0.8pp8.8%within the sector's middle half▲ 7.7pp4.5%within the sector's middle half▼ 4.3pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €858,939
Fixed assets
€567,638 =
Current assets
€291,301 ▲ 4.0%
Equity and liabilities €858,939
Equity
€477,141 ▲ 8.7%
Debt
€381,798 ▼ 6.6%
Debt's share of the balance-sheet total falls from 48.2% to 44.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.0%▼
2024 · 16.9%
Debt ≤ 1 year
€380,885▼
2024 · €402,669
Income taxes
€6,694▼
2024 · €8,507
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,889 | €19,933 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Other operating charges640/8 | - | - | - | €1,080 | €1,087 | €1,198 | €1,216 | €1,253 | ▲ 3.1% |
| Gross operating margin9900 | €77,126 | €60,857 | €20,502 | €22,849 | €20,923 | €17,799 | €11,947 | €14,060 | ▲ 17.7% |
| Operating profit (loss)9901 | €47,030 | €40,717 | €20,267 | €21,745 | €19,812 | €16,576 | €10,706 | €12,782 | ▲ 19.4% |
| Financial income75/76B | - | - | - | €65,627 | €5,361 | €524 | €78,418 | €33,449 | ▼ 57.3% |
| Recurring financial income75 | €389,333 | €97,578 | €1,000 | €65,627 | €5,361 | €524 | €78,418 | €33,449 | ▼ 57.3% |
| Financial charges65/66B | - | - | - | €4,737 | €596 | €3,287 | €6,378 | €1,213 | ▼ 81.0% |
| Recurring financial charges65 | €25 | €11,824 | €9,180 | €4,737 | €596 | €3,287 | €6,378 | €1,213 | ▼ 81.0% |
| Profit (loss) for the period before taxes9903 | €436,338 | €126,471 | €12,087 | €82,634 | €24,577 | €13,813 | €82,745 | €45,018 | ▼ 45.6% |
| Income taxes67/77 | €52,279 | €8,678 | €3,012 | €11,605 | €8,021 | €4,392 | €8,507 | €6,694 | ▼ 21.3% |
| Profit (loss) for the period9904 | €384,059 | €117,793 | €9,075 | €71,030 | €16,556 | €9,421 | €74,238 | €38,324 | ▼ 48.4% |
| Profit (loss) for the period to be appropriated9905 | €384,059 | €117,793 | €9,075 | €71,030 | €16,556 | €9,421 | €74,238 | €38,324 | ▼ 48.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.2m | €1.1m | €1.0m | €0.9m | €0.9m | €0.8m | €0.9m | ▲ 1.3% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Tangible fixed assets22/27 | €0.03m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 0.2% |
| Land and buildings22 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 0.2% |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.6m | €0.7m | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 4.0% |
| Amounts receivable within one year40/41 | €0.01m | €0.08m | €0.08m | €0.1m | €0.1m | €0.002m | €0.08m | €0.1m | ▲ 36.7% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.002m | €0.08m | €0.1m | ▲ 36.7% |
| Cash at bank and in hand54/58 | €0.6m | €0.6m | €0.4m | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 8.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.004m | €0 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.1m | €1.0m | €0.9m | €0.9m | €0.8m | €0.9m | ▲ 1.3% |
| Equity10/15 | €0.7m | €0.8m | €0.9m | €0.9m | €0.8m | €0.7m | €0.4m | €0.5m | ▲ 8.7% |
| Contributions10/11 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Capital10 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Issued capital100 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Reserves13 | €0.7m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.4m | €0.4m | ▲ 10.5% |
| Non-distributable reserves130/1 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Legal reserve130 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.7m | €0.7m | €0.4m | €0.4m | ▲ 10.8% |
| Profit (loss) carried forward14 | €53 | €144 | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.5m | €0.4m | €0.2m | €0.2m | €0.1m | €0.2m | €0.4m | €0.4m | ▼ 6.6% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.2m | €0.1m | €0.1m | €0.2m | €0.4m | €0.4m | ▼ 5.4% |
| Trade debts44 | - | - | €454 | €0 | - | - | - | - | - |
| Suppliers440/4 | - | - | - | €0 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.001m | €0.008m | €0.004m | ▼ 51.0% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.001m | €0.008m | €0.004m | ▼ 51.0% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.2m | €0.4m | €0.4m | ▼ 4.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.002m | €0.003m | €0.006m | €0.001m | ▼ 85.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €384,059 | €117,793 | €9,075 | €71,030 | €16,556 | €9,421 | €74,238 | €38,324 | ▼ 48.4% |
| + Depreciation and write-downs630 | €29,889 | €19,933 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Operating cash flow (approximation) | €413,949 | €137,726 | €9,100 | €71,055 | €16,581 | €9,446 | €74,263 | €38,349 | ▼ 48.4% |
| Investment in fixed assets (approximation) | - | -€500 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€55,959 | -€146,530 | -€103,661 | -€114,857 | €127,197 | -€135,450 | -€17,439 | ▲ 87.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-07-2026 | 2026-00359883 |
| 31-12-2024 | abbreviated format | 09-07-2025 | 2025-00250850 |
| 31-12-2023 | abbreviated format | 28-07-2024 | 2024-00319904 |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00311921 |
| 31-12-2021 | abbreviated format | 28-07-2022 | 2022-20263900 |
| 31-12-2020 | abbreviated format | 06-07-2021 | 2021-32400234 |
| 31-12-2019 | abbreviated format | 02-07-2020 | 2020-26100471 |
| 31-12-2018 | abbreviated format | 03-07-2019 | 2019-28400013 |
| 31-12-2017 | abbreviated format | 15-06-2018 | 2018-19600050 |
| 31-12-2016 | abbreviated format | 21-06-2017 | 2017-20100081 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.