FLEX PROJECT
ActiveFrom the official registers: KBO 6 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of FLEX PROJECT is 4.1% (elevated). The 2025 annual accounts show equity of €21,396 and a net result of -€5,668. Equity is growing by about 53% per year across the filed financial years. Its solvency ranks better than 77% of 5,879 sector peers (NACE 49, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency signals. The KBO does carry 2 administrative register entries (see administrative flags).
Overview
Official details
KBO- Status
- Active since 30-11-2019 Normal situation
- Legal form
- Private limited company
- Registered office
- Grétrystraat 47, 1000 Brussel
- Activity
- On-demand passenger transport by chauffeured vehicle NACE 49330
- Establishment unit
- 2.310.493.676 since 30-11-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 24-06-2026
How it is doing
- Bankruptcy probabilitywithin 12 months
- 4.1%
- Gross margin
- €12,402
- ▼ 34.0%
- Turnover
- ≈ €69,000
- estimated
- Loss
- €5,668
- Equity
- €21,396
- ▼ 20.9%
- Total assets
- €32,586
- ▼ 27.6%
- Staff
- ≈ 0.4 FTE
- estimated
Why 48raises riskSector: Land transport and transport via pipelines (NACE 49)2 ex-officio strike-offs in the KBO1 change of registered office in 24 monthsFounded in 2019Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 49, micro): better than 77% on solvency, 57% on liquidity, 6% on profitability and 20% on growth.
The bankruptcy probability was computed on 31-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 6 accounts on average 28 days after the deadline; the sector median (NACE 49) for financial year 2024 is on the deadline day, and 49% of those companies filed late.
Searched, nothing found (1)
Financials · financial year 2025, micro format
2025 annual accounts filed late (29 days) Filed on 29 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00450152.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 29-08-2026
- Format
- micro format
- Reference
- 2026-00450152
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result turns negative in 2025: a loss of €5,271 after €10,004 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 49, Land transport and transport via pipelines: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 3,591 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87.4% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,591 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €11,000 | €4,000 | - | - | €4,000 | - |
| Remuneration, social security and pensions62 | - | €4,327 | €11,990 | €5,971 | €7,797 | €14,385 | ▲ 84.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,844 | €4,466 | €4,466 | €623 | - | €2,000 | - |
| Other operating charges640/8 | - | €694 | €1,702 | €1,129 | €1,002 | €1,288 | ▲ 28.6% |
| Non-recurring operating charges66A | - | - | - | €61 | - | - | - |
| Gross operating margin9900 | -€530 | €13,022 | €18,741 | €27,217 | €18,802 | €12,402 | ▼ 34.0% |
| Operating profit (loss)9901 | -€5,321 | €3,534 | €583 | €19,432 | €10,004 | -€5,271 | - |
| Financial income75/76B | - | - | - | - | - | €1 | - |
| Recurring financial income75 | - | - | - | - | - | €1 | - |
| Non-recurring financial income76B | - | - | - | - | - | €1 | - |
| Financial charges65/66B | - | €285 | €680 | €1,109 | €424 | €397 | ▼ 6.3% |
| Recurring financial charges65 | - | €285 | €560 | €509 | €424 | €397 | ▼ 6.3% |
| Non-recurring financial charges66B | - | - | €120 | €600 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€5,321 | €3,250 | -€97 | €18,324 | €9,580 | -€5,668 | - |
| Income taxes67/77 | - | - | - | €894 | €2,778 | - | - |
| Profit (loss) for the period9904 | -€5,321 | €3,250 | -€97 | €17,430 | €6,802 | -€5,668 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,321 | €3,250 | -€97 | €17,430 | €6,802 | -€5,668 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €30,541 | €34,937 | €39,601 | €27,703 | €45,016 | €32,586 | ▼ 27.6% |
| Fixed assets21/28 | €29,556 | €25,090 | €21,323 | €20,700 | €20,700 | €18,700 | ▼ 9.7% |
| Intangible fixed assets21 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €18,000 | ▼ 10.0% |
| Tangible fixed assets22/27 | €9,556 | €5,090 | €623 | - | - | - | - |
| Furniture and vehicles24 | - | €5,090 | €623 | - | - | - | - |
| Financial fixed assets28 | - | - | €700 | €700 | €700 | €700 | = |
| Current assets29/58 | €985 | €9,847 | €18,277 | €7,003 | €24,316 | €13,886 | ▼ 42.9% |
| Amounts receivable within one year40/41 | €180 | €5,607 | €17,485 | €2,077 | €13,036 | €9,334 | ▼ 28.4% |
| Trade receivables40 | - | €4,902 | €15,125 | - | €12,242 | €5,729 | ▼ 53.2% |
| Other amounts receivable41 | - | €706 | €2,359 | €2,077 | €794 | €3,605 | ▲ 354% |
| Cash at bank and in hand54/58 | €127 | €4,078 | €462 | €4,423 | €11,098 | €4,552 | ▼ 59.0% |
| Deferred charges and accrued income490/1 | - | €163 | €331 | €502 | €183 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €30,541 | €34,937 | €39,601 | €27,703 | €45,016 | €32,586 | ▼ 27.6% |
| Equity10/15 | -€321 | €2,929 | €2,832 | €20,262 | €27,064 | €21,396 | ▼ 20.9% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€5,321 | -€2,071 | -€2,168 | €15,262 | €22,064 | €16,396 | ▼ 25.7% |
| Amounts payable17/49 | €30,862 | €32,008 | €36,769 | €7,441 | €17,953 | €11,190 | ▼ 37.7% |
| Amounts payable within one year42/48 | €30,862 | €32,008 | €36,769 | €7,441 | €17,953 | €11,190 | ▼ 37.7% |
| Trade debts44 | €1,081 | €6,638 | €16,678 | €1,760 | €12,106 | €1,531 | ▼ 87.4% |
| Suppliers440/4 | - | €6,638 | €16,678 | €1,760 | €12,106 | €1,531 | ▼ 87.4% |
| Taxes, remuneration and social security45 | - | €1,004 | €1,470 | €2,114 | €4,642 | €4,438 | ▼ 4.4% |
| Taxes450/3 | - | - | - | €894 | €3,672 | €2,778 | ▼ 24.4% |
| Remuneration and social security454/9 | - | €1,004 | €1,470 | €1,220 | €970 | €1,660 | ▲ 71.1% |
| Other amounts payable47/48 | - | €24,366 | €18,621 | €3,567 | €1,205 | €5,221 | ▲ 333% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,321 | €3,250 | -€97 | €17,430 | €6,802 | -€5,668 | - |
| + Depreciation and write-downs630 | €3,844 | €4,466 | €4,466 | €623 | - | €2,000 | - |
| Operating cash flow (approximation) | -€1,477 | €7,716 | €4,369 | €18,053 | €6,802 | -€3,668 | - |
| Investment in fixed assets (approximation) | - | €0 | -€700 | €0 | €0 | €0 | - |
| Change in cash | - | €3,951 | -€3,616 | €3,961 | €6,674 | -€6,546 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-08-2026 | 2026-00450152 | NBB |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00408948 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00371181 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00370222 | |
| 31-12-2021 | micro format | 29-09-2022 | 2022-20440553 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-45200062 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| EL KADI Mostaffa |
|
Owners and capital
Owners
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
22-04
Gazette deed
Registered officeRegistered-office move · Director in office3 facts ▸
- General meeting, 01-12-2025
- Registered-office move, Rue Grétry, n° 47 à 1000 Bruxelles
- Director in office, ELKADI Mostaffa (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Sites & property
1 establishment unit
Buildings and parcels at the addresses
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21809K0187/02A006 | Brussels | 9,765 m² | 1 · 8,769 m² | 22.2 m · 6 |
| 21802B1460/00X000 | Brussels | 421 m² | 1 · 185 m² | 22.9 m · 7 |