flex co
ActiveSummary
flex co has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27k and a net result of €138. Equity is shrinking by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 57% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-31
Solvency64▼-17
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.7 against 3.24 in 2024; short-term debt: 51% and cash: 32.8% of total assets), and 60.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
39.2%
Return on assets
0.2%
Age of the figures
9 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
202122232425
2020 to 2025 · latest year €27k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
27 d late
2024
113 d late
2023
21 d early
2022
25 d late
2021
26 d late
2020
2 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€27k▲ 0.5%
2024 · €27k
2020: €32k
2021: €27k▼ -15.5% vs 2020
2022: €35k▲ +27.3% vs 2021highest in 6 years
2023: €7k▼ -79.3% vs 2022lowest in 6 years
2024: €27k▲ +273% vs 2023
2025: €27k▲ +0.5% vs 2024
2020 → 2025
Total assets
€69k▲ 43.1%
2024 · €48k
2020: €80k
2021: €103k▲ +27.7% vs 2020highest in 6 years
2022: €82k▼ -19.9% vs 2021
2023: €58k▼ -29.8% vs 2022
2024: €48k▼ -17.0% vs 2023lowest in 6 years
2025: €69k▲ +43.1% vs 2024
2020 → 2025
Net result
€138▼ 99.3%
2024 · €20k
2020: €32khighest in 6 years
2021: €-5k▼ -116% vs 2020
2022: €7k▲ +249% vs 2021
2023: €-28k▼ -470% vs 2022lowest in 6 years
2024: €20k▲ +171% vs 2023
2025: €138▼ -99.3% vs 2024
2020 → 2025
Working capital
€-11k
2024 · €22k
2020: €14k
2021: €10k▼ -31.1% vs 2020
2022: €25k▲ +155% vs 2021highest in 6 years
2023: €-5k▼ -120% vs 2022
2024: €22k▲ +548% vs 2023
2025: €-11k▼ -147% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€27k-€35k▲ 27.3%€7k▼ 79.3%€27k▲ 273%€27k▲ 0.5%
2021: €27k
2022: €35k▲ +27.3% vs 2021highest in 5 years
2023: €7k▼ -79.3% vs 2022lowest in 5 years
2024: €27k▲ +273% vs 2023
2025: €27k▲ +0.5% vs 2024
Operating result€-5k-€11k€-27k€21k€1k▼ 94.5%
2021: €-5k
2022: €11k▲ +334% vs 2021
2023: €-27k▼ -352% vs 2022lowest in 5 years
2024: €21k▲ +177% vs 2023highest in 5 years
2025: €1k▼ -94.5% vs 2024
Net result€-5k-€7k€-28k€20k€138▼ 99.3%
2021: €-5k
2022: €7k▲ +249% vs 2021
2023: €-28k▼ -470% vs 2022lowest in 5 years
2024: €20k▲ +171% vs 2023highest in 5 years
2025: €138▼ -99.3% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 95% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69k
Fixed assets
€44k ▲ 182%
Current assets
€24k ▼ 24.3%
Equity and liabilities €69k
Equity
€27k ▲ 0.5%
Debt
€42k ▲ 96.8%
Debt's share of the balance-sheet total rises from 44.2% to 60.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€10k▼
2024 · €26k
Cash flow
€9k▼
2024 · €25k
Current ratio
0.70▼
2024 · 3.24
Quick ratio
0.67▼
2024 · 3.16
Debt to equity
1.55▲
2024 · 0.79
ROE
0.5%▼
2024 · 73.2%
ROA
0.2%▼
2024 · 40.9%
Interest coverage
15.48▼
2024 · 25.22
Debt ≤ 1 year
€35k▲
2024 · €10k
Debt > 1 year
€7k▼
2024 · €11k
Income taxes
€329
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€48k€69k▲
Fixed assets21/28€16k€44k▲
Intangible fixed assets21€0-
Tangible fixed assets22/27€16k€44k▲
Plant, machinery and equipment23€48€0▼
Furniture and vehicles24€16k€44k▲
Current assets29/58€32k€24k▼
Stocks and contracts in progress3€793€1k▲
Stocks30/36€793€1k▲
Amounts receivable within one year40/41€73€924▲
Trade receivables40-€387
Other amounts receivable41€73€537▲
Cash at bank and in hand54/58€31k€23k▼
Deferred charges and accrued income490/1€102€0▼
Equity and liabilities
Total equity and liabilities10/49€48k€69k▲
Equity10/15€27k€27k▲
Contributions10/11€4k€4k=
Reserves13€23k€23k▲
Distributable reserves133€23k€23k▲
Amounts payable17/49€21k€42k▲
Amounts payable after more than one year17€11k€7k▼
Financial debts170/4€11k€7k▼
Amounts payable within one year42/48€10k€35k▲
Current portion of amounts payable after more than one year42€4k€5k▲
Trade debts44€417€594▲
Suppliers440/4€417€594▲
Taxes, remuneration and social security45€213€460▲
Taxes450/3€213€460▲
Other amounts payable47/48€5k€29k▲
Income statement
Code20242025
Non-recurring operating income76A€20k€9k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€9k▲
Other operating charges640/8€551€446▼
Gross operating margin9900€27k€11k▼
Operating profit (loss)9901€21k€1k▼
Financial income75/76B€0€13▲
Recurring financial income75€0€13▲
Financial charges65/66B€1k€675▼
Recurring financial charges65€1k€675▼
Profit (loss) for the period before taxes9903€20k€467▼
Income taxes67/77-€329
Profit (loss) for the period9904€20k€138▼
Profit (loss) for the period to be appropriated9905€20k€138▼
Appropriation of the result
Profit (loss) to be appropriated9906€20k€138▼
Transfer from equity791/2€0-
Transfer to equity691/2€20k€138▼
To other reserves6921€20k€138▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €20k | €9k | ▼ 55.2% |
| Remuneration, social security and pensions62 | €5k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €14k | €14k | €6k | €9k | ▲ 69.0% |
| Other operating charges640/8 | €1k | €1k | €2k | €551 | €446 | ▼ 19.0% |
| Non-recurring operating charges66A | €7k | - | - | - | - | - |
| Gross operating margin9900 | €20k | €26k | €-11k | €27k | €11k | ▼ 59.2% |
| Operating profit (loss)9901 | €-5k | €11k | €-27k | €21k | €1k | ▼ 94.5% |
| Financial income75/76B | €3 | €0 | €87 | €0 | €13 | - |
| Recurring financial income75 | €3 | €0 | €87 | €0 | €13 | - |
| Financial charges65/66B | €488 | €491 | €1k | €1k | €675 | ▼ 34.9% |
| Recurring financial charges65 | €488 | €491 | €1k | €1k | €675 | ▼ 34.9% |
| Profit (loss) for the period before taxes9903 | €-5k | €10k | €-28k | €20k | €467 | ▼ 97.6% |
| Income taxes67/77 | - | €3k | €0 | - | €329 | - |
| Profit (loss) for the period9904 | €-5k | €7k | €-28k | €20k | €138 | ▼ 99.3% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €7k | €-28k | €20k | €138 | ▼ 99.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103k | €82k | €58k | €48k | €69k | ▲ 43.1% |
| Fixed assets21/28 | €45k | €31k | €43k | €16k | €44k | ▲ 182% |
| Intangible fixed assets21 | €55 | €35 | €15 | €0 | - | - |
| Tangible fixed assets22/27 | €45k | €31k | €43k | €16k | €44k | ▲ 182% |
| Plant, machinery and equipment23 | €1k | €638 | €343 | €48 | €0 | ▼ 100% |
| Furniture and vehicles24 | €44k | €31k | €43k | €16k | €44k | ▲ 183% |
| Current assets29/58 | €58k | €51k | €15k | €32k | €24k | ▼ 24.3% |
| Stocks and contracts in progress3 | €3k | €5k | €793 | €793 | €1k | ▲ 26.0% |
| Stocks30/36 | €3k | €5k | €793 | €793 | €1k | ▲ 26.0% |
| Amounts receivable within one year40/41 | €12k | €9k | €38 | €73 | €924 | ▲ 1,169% |
| Trade receivables40 | €12k | €9k | €0 | - | €387 | - |
| Other amounts receivable41 | - | - | €38 | €73 | €537 | ▲ 637% |
| Cash at bank and in hand54/58 | €41k | €35k | €13k | €31k | €23k | ▼ 28.1% |
| Deferred charges and accrued income490/1 | €3k | €2k | €978 | €102 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103k | €82k | €58k | €48k | €69k | ▲ 43.1% |
| Equity10/15 | €27k | €35k | €7k | €27k | €27k | ▲ 0.5% |
| Contributions10/11 | €4k | €4k | €4k | €4k | €4k | = |
| Reserves13 | €24k | €31k | €4k | €23k | €23k | ▲ 0.6% |
| Distributable reserves133 | €24k | €31k | €4k | €23k | €23k | ▲ 0.6% |
| Amounts payable17/49 | €75k | €47k | €51k | €21k | €42k | ▲ 96.8% |
| Amounts payable after more than one year17 | €27k | €21k | €31k | €11k | €7k | ▼ 40.1% |
| Financial debts170/4 | €27k | €21k | €31k | €11k | €7k | ▼ 40.1% |
| Amounts payable within one year42/48 | €48k | €26k | €20k | €10k | €35k | ▲ 251% |
| Current portion of amounts payable after more than one year42 | €6k | €6k | €10k | €4k | €5k | ▲ 4.4% |
| Trade debts44 | €5k | €2k | €2k | €417 | €594 | ▲ 42.3% |
| Suppliers440/4 | €5k | €2k | €2k | €417 | €594 | ▲ 42.3% |
| Taxes, remuneration and social security45 | €11k | €4k | €0 | €213 | €460 | ▲ 116% |
| Taxes450/3 | €10k | €4k | €0 | €213 | €460 | ▲ 116% |
| Remuneration and social security454/9 | €300 | - | - | - | - | - |
| Other amounts payable47/48 | €27k | €14k | €8k | €5k | €29k | ▲ 487% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €7k | €-28k | €20k | €138 | ▼ 99.3% |
| + Depreciation and write-downs630 | €11k | €14k | €14k | €6k | €9k | ▲ 69.0% |
| Operating cash flow (approximation) | €6k | €21k | €-13k | €25k | €9k | ▼ 62.3% |
| Investment in fixed assets (approximation) | - | €0 | €-26k | €22k | €-38k | ▼ 274% |
| Change in cash | - | €-6k | €-22k | €18k | €-9k | ▼ 148% |
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
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
21-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 113 days late
2024
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 3.24
Current ratio from 0.75 to 3.24; short-term debt falls from €20k to €10k.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
3 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, Kapellen · 1 establishment unit since 2019
Ground area
990 m²
Building footprint
108 m²
Volume, LiDAR
674 m³
Parcel 11362M0604/00T003, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
flex co
since 20192.295.121.453
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11362M0604/00T003 | Flanders | 990 m² | 1 · 108 m² | 9.0 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
Dual-learning approval
3 endedElektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Elektrotechnieken duaal (so)
Legal Entity Identifier
894500W5PMUT4O3ERB82
Similar companies · same sector, comparable size
HEDOB
BE 0681.780.831
Tielt · Eq €26,890
Construction Design & Engineering
BE 0472.392.869
Brecht · Eq €26,842
HW Bouw
BE 0782.516.915
Lanaken · Eq €26,816
VRL IMMO
BE 0743.692.565
Maasmechelen · Eq €26,805
PENTAGOED
BE 0681.463.701
Bocholt · Eq €27,033
Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,406 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
Founded09-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
Contact
Website
www.flex-co.org
E-mail
info@flex-co.be
Scores and ratios are computed by Checked and are not a credit decision.