FLEEX
ActiveSummary
FLEEX has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€41,427) and a net result of -€126,876. Equity has been shrinking by about 7.2% per year since 2019. Its solvency ranks better than 8% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 03-08-2004 Normal situation
- Registered office
- 13 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.144.780.064 1853 Grimbergen, since 03-08-2004
- Financial year end
- 30 June
- Peppol
- Reachable
Board and ownership
- HADERMANN MarcDirector · since 03-08-2004
- VERBELEN IsabelleDirector · since 01-09-2012
- Holdings
- Shares in 3 companies including FOOD SENSE and KVCS
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- €42,702
- ▲ 103%
- Turnover
- ≈ €110,000
- estimated
- Loss
- €126,876
- ▲ 488%
- Equity
- -€41,427
- Total assets
- €720,177
- ▼ 15.4%
- Negative equity on 30-06-2025
- 2025 accounts filed 37 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLoss of €126,876, the second in a row (financial year 2025)Liquidity: current ratio 0.82, cash €2,786Negative equity -€41,427lowers riskSize: total assets €720,177Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 70, micro). It does better than 8% of them on solvency, 6% on liquidity, 4% on profitability and 2% on growth.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 15 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 37 days after the deadline Filed on 9 March 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00051903.
Annual accounts 2025 filed on 09-03-2026 PDF all 20 filings
Every figure per financial year
The operating result for 2025 is a loss of €109,700, after a profit of €2,775 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €165,000 | €165,000 | - | - |
| Mortgages, amount registered | €536,000 | €536,000 | €536,000 | €536,000 |
| Carrying value of the mortgaged assets | €319,002 | €304,432 | €289,863 | €275,294 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €8,329 | - | - |
| Financial fixed assets | - | - | €0 | €6,200 |
| Depreciation and write-downs of the year | €17,658 | €17,178 | €17,345 | €17,345 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,799 | €18,826 | €17,658 | €17,658 | €17,178 | €17,345 | €17,345 | = |
| Other operating charges640/8 | - | - | - | €1,722 | €1,782 | €868 | €135,058 | ▲ 156× |
| Gross operating margin9900 | €66,026 | €61,487 | €36,167 | €48,965 | €45,147 | €20,988 | €42,702 | ▲ 103% |
| Operating profit (loss)9901 | €41,714 | €39,745 | €14,384 | €29,586 | €26,188 | €2,775 | -€109,700 | - |
| Financial income75/76B | - | - | - | €2,006 | €81 | €7,631 | €9,409 | ▲ 23.3% |
| Recurring financial income75 | €21,655 | €5,868 | €1,575 | €2,006 | €81 | €7,631 | €9,409 | ▲ 23.3% |
| Financial charges65/66B | - | - | - | €26,946 | €23,989 | €31,151 | €25,717 | ▼ 17.4% |
| Recurring financial charges65 | €30,533 | €29,137 | €27,120 | €26,946 | €23,989 | €31,151 | €25,717 | ▼ 17.4% |
| Profit (loss) for the period before taxes9903 | €32,836 | €16,476 | -€11,161 | €4,646 | €2,280 | -€20,746 | -€126,009 | ▼ 507% |
| Income taxes67/77 | €7,680 | €6,090 | €1,149 | €4,799 | €3,999 | €821 | €868 | ▲ 5.7% |
| Profit (loss) for the period9904 | €25,156 | €10,387 | -€12,310 | -€153 | -€1,719 | -€21,567 | -€126,876 | ▼ 488% |
| Profit (loss) for the period to be appropriated9905 | €25,156 | €10,387 | -€12,310 | -€153 | -€1,719 | -€21,567 | -€126,876 | ▼ 488% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €685,581 | €666,121 | €691,738 | €717,727 | €754,363 | €851,124 | €720,177 | ▼ 15.4% |
| Fixed assets21/28 | €382,983 | €383,657 | €365,999 | €348,342 | €339,492 | €322,147 | €311,002 | ▼ 3.5% |
| Tangible fixed assets22/27 | €375,432 | €356,606 | €338,948 | €321,291 | €312,441 | €295,096 | €277,751 | ▼ 5.9% |
| Land and buildings22 | - | - | - | €319,002 | €304,432 | €289,863 | €275,294 | ▼ 5.0% |
| Plant, machinery and equipment23 | - | - | - | €1,639 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €8,009 | €5,233 | €2,457 | ▼ 53.0% |
| Other tangible fixed assets26 | - | - | - | €650 | €0 | - | - | - |
| Financial fixed assets28 | €7,551 | €27,051 | €27,051 | €27,051 | €27,051 | €27,051 | €33,251 | ▲ 22.9% |
| Current assets29/58 | €302,599 | €282,464 | €325,739 | €369,385 | €414,870 | €528,977 | €409,174 | ▼ 22.6% |
| Amounts receivable after more than one year29 | - | - | - | €107,000 | €157,000 | €157,000 | €157,000 | = |
| Other amounts receivable291 | - | - | - | €107,000 | €157,000 | €157,000 | €157,000 | = |
| Amounts receivable within one year40/41 | €235,997 | €242,326 | €268,922 | €255,155 | €247,901 | €367,167 | €249,388 | ▼ 32.1% |
| Trade receivables40 | - | - | - | €33,795 | €28,350 | €76,613 | €99,509 | ▲ 29.9% |
| Other amounts receivable41 | - | - | - | €221,360 | €219,551 | €290,554 | €149,880 | ▼ 48.4% |
| Cash at bank and in hand54/58 | €3,557 | €1,546 | €5,646 | €2,936 | €8,405 | €4,810 | €2,786 | ▼ 42.1% |
| Deferred charges and accrued income490/1 | - | - | - | €4,295 | €1,564 | €0 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €685,581 | €666,121 | €691,738 | €717,727 | €754,363 | €851,124 | €720,177 | ▼ 15.4% |
| Equity10/15 | €110,811 | €121,198 | €108,888 | €108,735 | €107,016 | €85,450 | -€41,427 | - |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €28,545 | €38,932 | €38,932 | €38,932 | €38,932 | €38,932 | €38,932 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €1,530 | €1,530 | €1,530 | €1,530 | = |
| Distributable reserves133 | - | - | - | €35,542 | €35,542 | €37,402 | €37,402 | = |
| Profit (loss) carried forward14 | €63,666 | €63,666 | €51,356 | €51,203 | €49,484 | €27,918 | -€98,959 | - |
| Amounts payable17/49 | €574,770 | €544,923 | €582,851 | €608,992 | €647,347 | €765,675 | €761,604 | ▼ 0.5% |
| Amounts payable after more than one year17 | €442,380 | €434,118 | €402,901 | €370,155 | €335,795 | €329,789 | €259,454 | ▼ 21.3% |
| Financial debts170/4 | - | - | - | €370,155 | €335,795 | €329,789 | €259,454 | ▼ 21.3% |
| Amounts payable within one year42/48 | €131,698 | €109,314 | €179,082 | €237,621 | €310,105 | €433,977 | €500,240 | ▲ 15.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €32,745 | €34,361 | €33,120 | €38,701 | ▲ 16.8% |
| Financial debts43 | - | - | - | - | - | €5,043 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €5,043 | €0 | ▼ 100% |
| Trade debts44 | €50,137 | €20,937 | €26,274 | €19,266 | €15,572 | €19,374 | €33,122 | ▲ 71.0% |
| Suppliers440/4 | - | - | - | €19,266 | €15,572 | €19,374 | €33,122 | ▲ 71.0% |
| Bills of exchange payable441 | - | - | - | - | €0 | - | - | - |
| Advances received on contracts in progress46 | - | - | - | - | - | €41,443 | €36,661 | ▼ 11.5% |
| Taxes, remuneration and social security45 | - | - | - | €27,065 | €38,627 | €21,152 | €30,661 | ▲ 45.0% |
| Taxes450/3 | - | - | - | €27,065 | €36,377 | €21,152 | €30,661 | ▲ 45.0% |
| Remuneration and social security454/9 | - | - | - | - | €2,250 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €158,545 | €221,545 | €313,845 | €361,095 | ▲ 15.1% |
| Accrued charges and deferred income492/3 | - | - | - | €1,216 | €1,447 | €1,909 | €1,909 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,156 | €10,387 | -€12,310 | -€153 | -€1,719 | -€21,567 | -€126,876 | ▼ 488% |
| + Depreciation and write-downs630 | €19,799 | €18,826 | €17,658 | €17,658 | €17,178 | €17,345 | €17,345 | = |
| Operating cash flow (approximation) | €44,955 | €29,212 | €5,348 | €17,505 | €15,459 | -€4,222 | -€109,531 | ▼ 2,495% |
| Investment in fixed assets (approximation) | - | -€19,500 | €0 | €0 | -€8,329 | €0 | -€6,200 | - |
| Change in cash | - | -€2,011 | €4,100 | -€2,710 | €5,469 | -€3,596 | -€2,024 | ▲ 43.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 678 companies had the same profile as FLEEX has now. Two years later, 84.4% were still going and 6.8% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 2.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FLEEX itself is lower: 1.1% within 12 months. It rests on far more data about FLEEX than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 678 companies, not a prediction for FLEEX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 09-03-2026 | 2026-00051903 | |
| 30-06-2024 | abbreviated format | 11-02-2025 | 2025-00033882 | |
| 30-06-2023 | abbreviated format | 31-01-2024 | 2024-00023809 | |
| 30-06-2022 | abbreviated format | 13-02-2023 | 2023-00026600 | |
| 30-06-2021 | abbreviated format | 28-02-2022 | 2022-07000356 | |
| 30-06-2020 | abbreviated format | 09-02-2021 | 2021-05100292 | |
| 30-06-2019 | abbreviated format | 10-02-2020 | 2020-04700509 | |
| 30-06-2018 | abbreviated format | 24-01-2019 | 2019-02100452 | |
| 30-06-2017 | abbreviated format | 11-01-2018 | 2018-00900520 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-02500530 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 04-01-2024 Converted to available equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| HADERMANN Marc |
|
| VERBELEN Isabelle |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager helft koper(s) naar evenredigheid aantal bij meerdere kopers, nietigheid bij gebrek goedkeuring”
Articles of association, deed of 04-01-2024 (in Dutch)
Network & group
Holdings and subsidiaries
3 holdingsHoldings 3
Source for every holding own accounts 30-06-2025
- FOOD SENSEsubsidiaryEquity -€290,363Result -€64,798100%
- KVCSsubsidiaryEquity €28,688Result -€28,429100%
- TASTE 19subsidiaryEquity -€86,763 Loss of €52,755 in 2024 (profit of €4,675 in 2023) Checked score 1100%
Companies at the same address
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- Modave, Zoé (sole trader) Establishment · since 2025 1025757479
- Studibo Engineers Registered office · since 2025 1026116676
- Duran, Selim (sole trader) Establishment · since 2024 1016131418
- Ghislain, Nolane (sole trader) Establishment · since 2023 0795107911
- Roziers, Faust (sole trader) Establishment · since 2020 0749955302
- ACUSTICA Establishment · since 2018 0699714349
- VAN CASTER, HOCKE & LIMME Registered office · since 2015 0597884739
- JOBI Registered office · since 2010 0830495489
- Vereniging van mede-eigenaars te Grimbergen ex Strombeek-Bever in de Villegas de Clercampstraat 182 Registered office · since 2008 0896707491
Connections & network
2 current directorsThe network starts from the directors of FLEEX. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
04-01
Gazette deed
2 directors resigning, 2 reappointedResignations: HADERMANN Marc (director) and VERBELEN Isabelle (director) · Reappointments: HADERMANN Marc (director) and VERBELEN Isabelle (director) · Amendment of the articles10 points ▸
- General meeting, “buitengewone algemene vergadering van aandeelhouders” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “beschikbaar voor uitkering” (deed in Dutch)
- Capital
- Registered office clause, “1853 Grimbergen (Strombeek-Bever), de Villegas de Clercampstraat 182/12” (deed in Dutch)
- Director resignation, HADERMANN Marc (director)
- Director resignation, VERBELEN Isabelle (director)
- Director reappointment, HADERMANN Marc (director (not named in the articles))
- Director reappointment, VERBELEN Isabelle (director (not named in the articles))
- Other provision, “kwijting ontslagnemende bestuurders, algemene vergadering beslist op volgende jaarvergadering over kwijting voor uitoefening mandaat” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23084A0109/00N000 | Flanders | 2,351 m² | 1 · 833 m² | 16.4 m · 4 |