Flex IT
ActiveSummary
Flex IT has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.9m and a net result of €133,013. Equity has been growing by about 10% per year since 2018. Its solvency ranks better than 81% of 8,966 sector peers (NACE 46, financial year 2024). The computed 12-month bankruptcy probability is 1.5% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-05-2010 Normal situation
- Registered office
- 28 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 2 November 2026.
- Activity
- Wholesale of information and communication equipment NACE 46500and 2 others
- Joint committees
- 112 Paritair Comité voor het garagebedrijf
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2023
- Establishment unit
- 2.188.704.337 2800 Mechelen, since 21-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Board and ownership
- Xeptor Distribution Holding BVconsolidatesannual accounts 2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.5%
- Gross margin
- €584,966
- ▼ 15.0%
- Turnover
- ≈ €3.0m
- estimated
- Profit
- €133,013
- ▼ 39.1%
- Equity
- €1.9m
- ▲ 7.6%
- Total assets
- €2.5m
- ▲ 30.2%
- Employees on 31-12-2024
- 4
- ▲ 300%
- 2025 accounts not filed, 94 days past the deadline
Score breakdownraises riskCapped at 59: a confirmed filing findingFigures for financial year 2024 (filed on 03-10-2025)1 financial year not filed after the legal deadline; last filed accounts filed 57 days late; 3 of the last 3 accounts latelowers riskFounded in 2010Equity €1.9m (74.3% of total assets)Show 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 46, micro). It does better than 79% of them on solvency, 41% on liquidity, 39% on profitability and 60% on growth.
The bankruptcy probability was computed on 01-11-2026 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 6 accounts on average 37 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 2 November 2026.
Annual accounts 2024 filed on 26-09-2025 PDF all 15 filings
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is 25% lower than in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 1 | 4 |
| full-time | 5 | 4 | - | 4 |
| part-time | - | - | 1 | - |
| in full-time equivalents | 5 | 4 | 0.1 | 4 |
| Average over the year, in full-time equivalents | 6.3 | 3.3 | 0.1 | 4.2 |
| On a permanent contract | 5 | 4 | 1 | 4 |
| Joined | 0 | 2 | - | 3 |
| Left | 3 | 3 | - | 3 |
Source: social balance sheet in the 2021 to 2024 annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.009m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.3m | €0.4m | €0.4m | ▼ 9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.006m | €0.006m | €0.001m | €0.001m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.003m | €0.001m | €0.001m | ▲ 17.9% |
| Gross operating margin9900 | €0.7m | €0.8m | €1.0m | €0.8m | €0.5m | €0.7m | €0.6m | ▼ 15.0% |
| Operating profit (loss)9901 | €0.06m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 24.7% |
| Financial income75/76B | - | - | - | €2 | €0.03m | €0.05m | - | - |
| Recurring financial income75 | - | - | €1 | €2 | €0.03m | €0.05m | - | - |
| Financial charges65/66B | - | - | - | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 53.0% |
| Recurring financial charges65 | €0.001m | €0.002m | €0.002m | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 53.0% |
| Profit (loss) for the period before taxes9903 | €0.06m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 37.7% |
| Income taxes67/77 | €0.02m | €0.04m | €0.05m | €0.05m | €0.06m | €0.08m | €0.05m | ▼ 33.8% |
| Profit (loss) for the period9904 | €0.04m | €0.06m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 39.1% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.06m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 39.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.8m | €1.3m | €1.5m | €1.4m | €1.6m | €1.9m | €2.5m | ▲ 30.2% |
| Fixed assets21/28 | €0.04m | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Tangible fixed assets22/27 | €0.02m | €0.009m | €0.003m | €0.001m | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | - | - | - | - |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Current assets29/58 | €1.8m | €1.3m | €1.4m | €1.4m | €1.6m | €1.9m | €2.5m | ▲ 30.4% |
| Amounts receivable within one year40/41 | €1.8m | €1.2m | €1.4m | €1.4m | €1.5m | €1.9m | €2.4m | ▲ 31.8% |
| Trade receivables40 | - | - | - | €0.07m | €0.03m | €0.1m | €0.7m | ▲ 494% |
| Other amounts receivable41 | - | - | - | €1.3m | €1.5m | €1.7m | €1.8m | ▲ 1.1% |
| Cash at bank and in hand54/58 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.007m | €0.01m | €0.003m | ▼ 69.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.8m | €1.3m | €1.5m | €1.4m | €1.6m | €1.9m | €2.5m | ▲ 30.2% |
| Equity10/15 | €1.1m | €1.1m | €1.2m | €1.4m | €1.5m | €1.7m | €1.9m | ▲ 7.6% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €1.0m | €1.1m | €1.2m | €1.3m | €1.5m | €1.7m | €1.9m | ▲ 7.7% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €1.3m | €1.5m | €1.7m | €1.9m | ▲ 7.7% |
| Amounts payable17/49 | €0.8m | €0.2m | €0.2m | €0.08m | €0.09m | €0.2m | €0.6m | ▲ 229% |
| Amounts payable within one year42/48 | €0.8m | €0.2m | €0.2m | €0.08m | €0.09m | €0.2m | €0.6m | ▲ 228% |
| Trade debts44 | €0.4m | €0.1m | €0.07m | €0.03m | €0.004m | €0.06m | €0.5m | ▲ 705% |
| Suppliers440/4 | - | - | - | €0.03m | €0.004m | €0.06m | €0.5m | ▲ 705% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.08m | €0.1m | €0.1m | ▼ 5.8% |
| Taxes450/3 | - | - | - | €0.001m | €0.06m | €0.09m | €0.08m | ▼ 8.7% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.02m | €0.04m | €0.04m | ▲ 0.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.003m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,539 | €64,904 | €130,540 | €115,306 | €156,394 | €218,513 | €133,013 | ▼ 39.1% |
| + Depreciation and write-downs630 | €9,587 | €6,083 | €6,083 | €1,452 | €1,402 | - | - | - |
| Operating cash flow (approximation) | €45,127 | €70,987 | €136,623 | €116,759 | €157,797 | €218,513 | €133,013 | ▼ 39.1% |
| Investment in fixed assets (approximation) | - | €3,265 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
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, 34,693 companies had the same profile as Flex IT has now. Two years later, 0.7% had gone bankrupt and 95.3% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
The bankruptcy probability of Flex IT itself is higher: 1.5% within 12 months. It rests on far more data about Flex IT 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 34,693 companies, not a prediction for Flex IT. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 26-09-2025 | 2025-00527637 | |
| 31-12-2023 | abbreviated format | 10-10-2024 | 2024-00506718 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00405727 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20367334 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-58400216 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-35700189 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24700218 | |
| 31-12-2017 | abbreviated format | 22-08-2018 | 2018-48100023 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-54700344 | |
| 31-12-2015 | full format | 30-08-2016 | 2016-51000050 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
- Xeptor Distribution Holding BVNL
- Flex IT
Owners 1
- Xeptor Distribution Holding BVNLconsolidating parentconsolidates
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Angelo Cornelis Gerardus Maria Bul |
|
| Andreas Frank Mayer |
|
| Leon Timmermans |
|
Network & group
Companies at the same address
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- MOONBASE Group Registered office · since 2024 1012124229
- AUSTIN BRIGHT Establishment · since 2024 0600938952
- TM SRB1 Registered office · since 2023 1010160770
- Paralax BV Establishment · since 2023 0832919204
- OmniVision Technologies Belgium Registered office · since 2021 0767723029
- MYLENE Establishment · since 2020 0403610565
Connections & network
1 current directorThe network starts from the directors of Flex IT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
02-05
Gazette deed
Resignation: Andreas Frank Mayer (director)Appointment: Angelo Cornelis Gerardus Maria Bul (director) · Board rule5 points ▸
- General meeting, 03-04-2024
- Director resignation, Andreas Frank Mayer (director)
- Director appointment, Angelo Cornelis Gerardus Maria Bul (director)
- Board rule, 1
- Board composition, Angelo Cornelis Gerardus Maria Bul (director)
06-07
Gazette deed
Resignation: Leon Timmermans (director)Appointment: Andreas Frank Mayer (director) · Board rule5 points ▸
- General meeting, 31-05-2022
- Director resignation, Leon Timmermans (director)
- Director appointment, Andreas Frank Mayer (director)
- Board rule, 1
- Board composition, Andreas Frank Mayer (director)
Show earlier events
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
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 |
|---|---|---|---|---|
| 12403D0148/00G000 | Flanders | 1.3 ha | 1 · 4,002 m² | 20.7 m · 5 |