FLEX-A
ActiveSummary
FLEX-A has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €131,885 and a net result of €123,601. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 56% of 9494 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency86▲+27
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 1.58 against 1.02 in 2024; short-term debt: 38.8% and cash: 31% of total assets), and 39.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60.6%
Return on assets
56.8%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €131,885
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-10-2025, 107 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
107 d early
2024
94 d early
2023
62 d early
2022
68 d early
2021
73 d early
2020
33 d early
2019
71 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€131,885▲ 93.1%
2024 · €68,283
Total assets
€217,783▲ 8.7%
2024 · €200,435
Net result
€123,601▲ 15.4%
2024 · €107,064
Working capital
€49,231▲ 1,643%
2024 · €2,824
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€93,025▲ 12.8%€105,811▲ 13.7%€100,411▼ 5.1%€137,715▲ 37.2%€160,143▲ 16.3%
Net result€73,206▲ 12.6%€85,417▲ 16.7%€80,396▼ 5.9%€107,064▲ 33.2%€123,601▲ 15.4%
Equity€84,823▼ 34.4%€70,241▼ 17.2%€68,283▼ 2.8%€68,283=€131,885▲ 93.1%
Total assets€225,913▼ 3.5%€194,834▼ 13.8%€182,615▼ 6.3%€200,435▲ 9.8%€217,783▲ 8.7%
Debt€141,090▲ 34.4%€124,594▼ 11.7%€114,332▼ 8.2%€132,152▲ 15.6%€85,898▼ 35.0%
Working capital€51,078▼ 39.6%-€3,125-€13,212▼ 323%€2,824€49,231▲ 1,643%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €217,783
Fixed assets
€84,069 ▲ 25.7%
Current assets
€133,713 ▲ 0.1%
Equity and liabilities €217,783
Equity
€131,885 ▲ 93.1%
Debt
€85,898 ▼ 35.0%
Debt's share of the balance-sheet total falls from 65.9% to 39.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€174,039▲
2024 · €153,797
Cash flow
€137,498▲
2024 · €123,145
Current ratio
1.58▲
2024 · 1.02
Debt to equity
0.65▼
2024 · 1.94
ROE
93.7%▼
2024 · 156.8%
ROA
56.8%▲
2024 · 53.4%
Interest coverage
1750.90▼
2024 · 3417.70
Debt ≤ 1 year
€84,482▼
2024 · €130,751
Income taxes
€36,442▲
2024 · €30,706
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,809 | €12,363 | €16,276 | €16,081 | €13,896 | ▼ 13.6% |
| Other operating charges640/8 | - | €828 | €688 | €844 | €916 | ▲ 8.5% |
| Non-recurring operating charges66A | - | €45 | - | - | - | - |
| Gross operating margin9900 | €105,970 | €119,047 | €117,375 | €154,641 | €174,956 | ▲ 13.1% |
| Operating profit (loss)9901 | €93,025 | €105,811 | €100,411 | €137,715 | €160,143 | ▲ 16.3% |
| Financial income75/76B | - | €25 | - | €100 | - | - |
| Recurring financial income75 | €24 | €25 | - | €100 | - | - |
| Financial charges65/66B | - | €56 | €45 | €45 | €99 | ▲ 121% |
| Recurring financial charges65 | €59 | €56 | €45 | €45 | €99 | ▲ 121% |
| Profit (loss) for the period before taxes9903 | €92,990 | €105,780 | €100,366 | €137,770 | €160,044 | ▲ 16.2% |
| Income taxes67/77 | €19,784 | €20,363 | €19,970 | €30,706 | €36,442 | ▲ 18.7% |
| Profit (loss) for the period9904 | €73,206 | €85,417 | €80,396 | €107,064 | €123,601 | ▲ 15.4% |
| Transfer from tax-exempt reserves789 | - | €11,000 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €73,206 | €96,417 | €80,396 | €107,064 | €123,601 | ▲ 15.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €225,913 | €194,834 | €182,615 | €200,435 | €217,783 | ▲ 8.7% |
| Fixed assets21/28 | €35,098 | €74,777 | €82,942 | €66,861 | €84,069 | ▲ 25.7% |
| Tangible fixed assets22/27 | €35,098 | €74,777 | €82,942 | €66,861 | €84,069 | ▲ 25.7% |
| Furniture and vehicles24 | - | €8,115 | €5,658 | €3,717 | €14,803 | ▲ 298% |
| Other tangible fixed assets26 | - | €66,662 | €77,284 | €63,144 | €69,267 | ▲ 9.7% |
| Current assets29/58 | €190,815 | €120,058 | €99,673 | €133,574 | €133,713 | ▲ 0.1% |
| Amounts receivable within one year40/41 | €38,692 | €62,491 | €46,983 | €68,267 | €63,381 | ▼ 7.2% |
| Trade receivables40 | - | €62,491 | €46,983 | €64,973 | €63,381 | ▼ 2.4% |
| Other amounts receivable41 | - | - | - | €3,294 | - | - |
| Cash at bank and in hand54/58 | €148,225 | €53,401 | €48,566 | €62,087 | €67,611 | ▲ 8.9% |
| Deferred charges and accrued income490/1 | - | €4,166 | €4,124 | €3,221 | €2,721 | ▼ 15.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €225,913 | €194,834 | €182,615 | €200,435 | €217,783 | ▲ 8.7% |
| Equity10/15 | €84,823 | €70,241 | €68,283 | €68,283 | €131,885 | ▲ 93.1% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €66,223 | €51,641 | €49,683 | €49,683 | €113,285 | ▲ 128% |
| Tax-exempt reserves132 | - | €32,400 | €32,400 | €32,400 | €32,400 | = |
| Distributable reserves133 | - | €19,241 | €17,283 | €17,283 | €80,885 | ▲ 368% |
| Amounts payable17/49 | €141,090 | €124,594 | €114,332 | €132,152 | €85,898 | ▼ 35.0% |
| Amounts payable within one year42/48 | €139,738 | €123,182 | €112,885 | €130,751 | €84,482 | ▼ 35.4% |
| Trade debts44 | €3,560 | €3,936 | €2,121 | €8,096 | €9,518 | ▲ 17.6% |
| Suppliers440/4 | - | €3,936 | €2,121 | €8,096 | €9,518 | ▲ 17.6% |
| Taxes, remuneration and social security45 | - | €19,246 | €27,846 | €15,579 | €14,953 | ▼ 4.0% |
| Taxes450/3 | - | €19,246 | €27,846 | €15,579 | €14,953 | ▼ 4.0% |
| Other amounts payable47/48 | - | €100,000 | €82,918 | €107,075 | €60,012 | ▼ 44.0% |
| Accrued charges and deferred income492/3 | - | €1,412 | €1,446 | €1,401 | €1,415 | ▲ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,206 | €85,417 | €80,396 | €107,064 | €123,601 | ▲ 15.4% |
| + Depreciation and write-downs630 | €11,809 | €12,363 | €16,276 | €16,081 | €13,896 | ▼ 13.6% |
| Operating cash flow (approximation) | €85,015 | €97,780 | €96,672 | €123,145 | €137,498 | ▲ 11.7% |
| Investment in fixed assets (approximation) | - | -€52,042 | -€24,441 | €0 | -€31,105 | - |
| Change in cash | - | -€94,824 | -€4,834 | €13,521 | €5,524 | ▼ 59.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
16-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €123,601 ▲15.4%
Operating result €160,143, net result €123,601, both a record.
30-06
Financial
Equity above €100,000Eq €131,885 ▲93.1%
7 profitable years in a row build equity to €131,885.
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
19-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
29-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
21-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
11-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
09-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalter · 1 establishment unit since 2015
Ground area
724 m²
Building footprint
144 m²
Volume, LiDAR
682 m³
Parcel 44009D0052/00D000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
FLEX-A
since 20152.246.175.055
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44009D0052/00D000 | Flanders | 724 m² | 1 · 144 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
6488T9S7BL8LER907204
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,563. 5,245 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-10-2015
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.