FLEX
ActiveFLEX has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €963k and a net result of €81k. Equity is growing by ~60.3% per year across the filed fiscal years. Its solvency ranks better than 23% of 271 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+42
Solvency19▲+4
Growth78▲+26
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days only on tighter terms
Liquidity short (current ratio 0.64 against 0.65 in 2024), and 79.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
20.4%
Return on assets
1.7%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 271 sector peers (2025).
NBB · sector comparisonPosition among 271 sector peers
Solvency
better than 23%
← 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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
31 d late
2023
30 d late
2022
31 d late
2021
61 d late
2020
89 d late
2019
119 d late
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€81k
2024 · €-314k
2018: €32k
2019: €68k
2020: €208k
2021: €-33k
2022: €152k
2023: €-1.11M
2024: €-314k
2018 → 2025
Working capital
€-658k▲ 13.9%
2024 · €-765k
2018: €-81k
2019: €-181k
2020: €-226k
2021: €-173k
2022: €-595k
2023: €-1.26M
2024: €-765k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€319k-€464k▲ 45.6%€581k▲ 25.1%€895k▲ 54.1%€963k▲ 7.6%
Operating result€22k-€172k▲ 695%€-1.07M€-225k▲ 79.1%€116k
Net result€-33k-€152k€-1.11M€-314k▲ 71.8%€81k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €116k after a loss of €225k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.72M
Fixed assets
€3.53M▼ 4.2%
Current assets
€1.19M▼ 15.1%
Equity and liabilities €4.72M
Equity
€963k▲ 7.6%
Provisions
€67k▼ 5.3%
Debt
€3.69M▼ 10.4%
The debt ratio falls from 81.0% to 78.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€397k▲
2024 · €5k
Cash flow
€361k▲
2024 · €-84k
Solvency
20.4%▲
2024 · 17.6%
Current ratio
0.64▼
2024 · 0.65
Quick ratio
0.39▼
2024 · 0.40
Debt / equity
3.83▼
2024 · 4.61
ROE
8.4%▲
2024 · -35.1%
ROA
1.7%▲
2024 · -6.2%
Interest coverage
7.98▲
2024 · 0.10
Debt
€3.69M▼
2024 · €4.12M
Debt ≤ 1 year
€1.85M▼
2024 · €2.17M
Debt > 1 year
€1.84M▼
2024 · €1.95M
Income taxes
€-8k▼
2024 · €12k
Staff costs
€709k▼
2024 · €1.01M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.09M€4.72M▼
Fixed assets21/28€3.68M€3.53M▼
Intangible fixed assets21€188k€250k▲
Tangible fixed assets22/27€2.25M€2.04M▼
Land and buildings22€2.01M€1.94M▼
Plant, machinery and equipment23€12k€2k▼
Furniture and vehicles24€185k€57k▼
Other tangible fixed assets26€47k€33k▼
Financial fixed assets28€1.24M€1.24M=
Current assets29/58€1.41M€1.19M▼
Amounts receivable after more than one year29€10k€10k=
Other amounts receivable291€10k€10k=
Stocks and contracts in progress3€543k€481k▼
Stocks30/36€137k€124k▼
Contracts in progress37€405k€357k▼
Amounts receivable within one year40/41€615k€465k▼
Trade receivables40€605k€418k▼
Other amounts receivable41€10k€48k▲
Cash at bank and in hand54/58€209k€224k▲
Deferred charges and accrued income490/1€30k€15k▼
Equity and liabilities
Total equity and liabilities10/49€5.09M€4.72M▼
Equity10/15€895k€963k▲
Contributions10/11€1.97M€1.97M=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-1.20M€-1.13M▲
Investment grants15€124k€119k▼
Provisions and deferred taxes16€71k€67k▼
Provisions for liabilities and charges160/5€71k€67k▼
Other liabilities and charges164/5€71k€67k▼
Amounts payable17/49€4.12M€3.69M▼
Amounts payable after more than one year17€1.95M€1.84M▼
Financial debts170/4€1.95M€1.84M▼
Amounts payable within one year42/48€2.17M€1.85M▼
Current portion of amounts payable after more than one year42€602k€290k▼
Financial debts43€125k-
Credit institutions430/8€125k-
Trade debts44€605k€977k▲
Suppliers440/4€605k€977k▲
Advances received on contracts in progress46€680k€521k▼
Taxes, remuneration and social security45€157k€64k▼
Taxes450/3€79k€3k▼
Remuneration and social security454/9€78k€61k▼
Other amounts payable47/48€870€870=
Income statement
Code20242025
Remuneration, social security and pensions62€1.01M€709k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€230k€281k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€16k€15k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€71k€-4k▼
Other operating charges640/8€35k€52k▲
Non-recurring operating charges66A-€5k
Gross operating margin9900€1.13M€1.17M▲
Operating profit (loss)9901€-225k€116k▲
Financial income75/76B€12k€6k▼
Recurring financial income75€6k€6k▲
Non-recurring financial income76B€6k-
Financial charges65/66B€90k€50k▼
Recurring financial charges65€50k€50k▼
Non-recurring financial charges66B€40k-
Profit (loss) for the period before taxes9903€-302k€72k▲
Income taxes67/77€12k€-8k▼
Profit (loss) for the period9904€-314k€81k▲
Profit (loss) for the period to be appropriated9905€-314k€81k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.20M€-1.13M▲
Profit (loss) brought forward from the previous period14P€-884k€-1.21M▼
Social balance
Average headcount (FTE)908716.810.6▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €81k
Net result €81k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-1.11M ▼833%
Net result drops to €-1.11M, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500kEq €581k ▲25.1%
Equity rises from €464k to €581k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Back to profitnet €152k
Net result €152k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
31-12
Financial
Equity above €200kEq €319k ▲130%
Equity rises from €139k to €319k.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 89 days late
2020
31-12
Financial
Highest result since 2018net €208k ▲204%
Operating result €250k, net result €208k, both a record.
31-12
Financial
Equity above €100kEq €139k ▲248%
3 profitable years in a row build equity to €139k.
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 119 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2024
This board is reconstructed from a single act (24450452). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
ADEGO
CurrentManaging director · since 13-12-2024 · Private limited company · perm. rep.: ADEGO
LECOMTE François-Valery Albert Eugène Ghislain
CurrentManaging director · since 13-12-2024
SPARAXIS
CurrentManaging director · since 13-12-2024 · Public limited company · perm. rep.: SPARAXIS
STEDEM
CurrentManaging director · since 13-12-2024 · Private limited company · perm. rep.: STEDEM
13-12-2024
ADEGO: Appointed as Managing director
13-12-2024
LECOMTE François-Valery Albert Eugène Ghislain: Appointed as Managing director
13-12-2024
SPARAXIS: Appointed as Managing director
13-12-2024
STEDEM: Appointed as Managing director
Location & real-estate footprint
Registered office, Nivelles · 2 establishment units since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue Robert Schuman 1911401 NivellesGround area
7.1 ha
Building footprint
4,438 m²
Volume, LiDAR
35,085 m³
2 parcels, Brussels, Wallonia · tallest building 18.3 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Waterloosesteenweg 1384, 1180 Ukkel
since 20212.317.079.976
Avenue Robert Schuman 191, 1401 Nivelles
since 20212.316.383.160
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0293/00S002 | Brussels | 6.8 ha | 1 · 3,854 m² | 18.2 m · 3 fl. |
| 25004A0029/00S000 | Wallonia | 3,645 m² | 1 · 584 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
DRAFAB
BE 0405.471.579
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MENUISERIE DEMARCHE
BE 0454.429.360
Blégny · Eq €960k
VISU
BE 0441.045.142
Brussel · Eq €957k
Huppy Pinckaers
BE 0457.150.409
Voeren · Eq €973k
Le Bon Bois
BE 0453.559.825
Léglise · Eq €975k
Of 1,594 companies in sector 16230 we hold annual accounts for 777. 447 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-01-1974
Fiscal year end31-12
Activities, NACEBEL
16230Manufacture of other builders' carpentry and joinery
25120Manufacture of fabricated metal products, except machinery and equipment
28120
45422
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.