Equity
€74,719 from €136,997 in 2023
Equity fell by 45% in 2 years.
Flexitrade
Overview
Lifetime
5 annual accounts with figures on one time axisGross marginpeak €98,446 (2021)
-€38,300▼ €82,071
Resultlowest -€44,071 (2025)
-€44,071▼ €71,544
Equitypeak €136,997 (2023)
€74,719▼ 37.1%
Debts
€50,104▼ 12.4%
Board2 names since 2021
2 directorsJonckheere Filip and 1 other
Documentsfilings and deeds
23-07-20268 days before the deadline
2025micro format
Gross margin from €43,771 to -€38,300Loss of €44,071Equity from €118,791 to €74,719Investments €15,708Cash from €139,824 to €76,875
Key points
from the 2025 annual accountsResult
-€44,071 -€44,071
From profit to loss in 2025, after a profit of €27,473 in 2024.
Investments
€15,708 4.0 × depreciation
Green is investment, beige is depreciation.
Liquidity
2.19 was 3.02 in 2024
Short-term debts fell from €57,164 to €50,104.
Filings
5 annual accounts since 2021
The last five annual accounts were filed 8 to 108 days before the end of the period.
Position in the sector
-€44,071
Lower net result than 95% of companies in wholesale trade. Sector median €5,636 · 13,785 companies.
Turnover not published (micro format)
Checked score
87
Excellent
Financially stronger than 42% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,900 companies (NACE 46, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.2%▲ +0.1 percentage points vs 04-2025
06-2025: 0.1%▼ -0.1 percentage points vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Loss of €44,071 (financial year 2025)
lowers risk
Liquidity: current ratio 2.19, cash €76,875
Size: total assets €124,823
Equity €74,719 (59.9% of total assets)
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 66% of them on solvency, 83% on liquidity, 6% on profitability and 13% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 3,591 companies had the same profile as Flexitrade has now. Each dot stands for 9 companies, two years later.
87.4%
were still trading
9.4%
stopped another way
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Flexitrade itself is lower: 0.2% within 12 months. It rests on far more data about Flexitrade 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 3,591 companies, not a prediction for Flexitrade. 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.
Credit verdict
Credit of up to €6,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.19 (3.02 in 2024), above the usual 1.5. Short-term debt is 40.1% and cash 61.6% of total assets. 40.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 23-07-2026, 8 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
8 days early
2024
85 days early
2023
90 days early
2022
108 days early
2021
48 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 68 days before 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 (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 May (4 of the last 5 accounts filed within 37 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0748487434
Registered office moved within Oostduinkerke
New registered office: Ammanswallestraat 42, 8670 Oostduinkerke · Previous registered office: Piet Verhaertstraat 58, 8670 Oostduinkerke · Gazette deed
Incorporation
published on 15-06-2020 · Gazette deed
First establishment
Ammanswallestraat (OdK) 42, Koksijde
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| Flexitrade Koksijde | €124,823 | -€38,300 | 59.9% | - |
| GEMI GROUP Anderlecht | €158,446 | -€395 | -59.2% | - |
| TU HUAHUA Kinrooi | €190,554 | -€3,736 | 35.0% | - |
| FAMDI Brussels | €142,041 | -€2,447 | -0.6% | - |
| ACS BELGIUM Waterloo | €79,802 | -€15,412 | 5.8% | - |
| FRONT GROUP Herve | €241,393 | -€18,076 | 32.5% | - |
| Future Business Schilde | €147,326 | €260 | -151.4% | - |
These companies have the same main activity as Flexitrade: agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160). They are comparable in size and age: total assets between €79,800 and €241,000, founded between 2015 and 2022.
Official details
Source: KBO- Status
- Active since 11-06-2020Normal situation
- Activity
- Agents in the wholesale of textiles, clothing, fur, footwear and leather goodsNACE 46160
- Establishment unit
- 2.303.228.0798670 Koksijde, since 11-06-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 17-10-2025
Annual accounts 2025
- Gross margin
- -€38,300
- Loss
- €44,071
- Equity
- €74,719▼ 37.1%
- Total assets
- €124,823▼ 29.1%
- Filing
- Filed on 23-07-2026, 8 days before the end of the filing period
Insights on Flexitrade
Flexitrade files the micro format. That format states no turnover. The gross margin fell from €98,446 in 2021 to -€38,300 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 23-07-2026, 8 days before the deadlineGross margin
-€38,300
▼ €82,071
Operating result
-€43,054
▼ €82,566
Loss
-€44,071
▼ €71,544
Working capital
€59,502
▼ 48.4%
Solvency
59.9%
▼ 7.7 percentage points
Current ratio
2.19
▼ 0.83
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €124,823 on 31-12-2025What the company ownsHow it is paid for
Change in equityin euro
Change in cashin euro
Position in the sector
Solvency59.9%
Higher than 66% of 13,779 companies in 2025.
Current ratio2.19
Higher than 60% of 13,158 companies in 2025.
Return on assets-35.3%
Higher than 7% of 13,337 companies in 2025.
Flexitrade
Middle half of the sector
80% of the sector
Micro accounts in wholesale trade (NACE 46)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
Total assets20/58 |
124,823 | 175,954 | 281,469 | 203,303 | 137,870 | |
Fixed assets21/28 |
15,217 | 3,463 | 6,096 | - | - | |
Tangible fixed assets22/27 |
15,217 | 3,463 | 6,096 | - | - | |
Plant, machinery and equipment23 |
2,892 | - | - | - | - | |
Furniture and vehicles24 |
12,326 | 3,463 | 6,096 | - | - | |
Current assets29/58 |
109,606 | 172,491 | 275,373 | 203,303 | 137,870 | |
Stocks and contracts in progress3 |
- | 2,234 | 105,145 | 37,094 | 3,000 | |
Stocks30/36 |
- | 2,234 | 105,145 | 37,094 | 3,000 | |
Amounts receivable within one year40/41 |
32,732 | 30,434 | 5,234 | 46,931 | 18,017 | |
Trade receivables40 |
3,719 | 19,670 | - | 0 | 716 | |
Other amounts receivable41 |
29,013 | 10,764 | 5,234 | 46,931 | 17,300 | |
Cash at bank and in hand54/58 |
76,875 | 139,824 | 164,994 | 119,278 | 116,853 | |
| Balance sheet: equity and liabilities | ||||||
Total equity and liabilities10/49 |
124,823 | 175,954 | 281,469 | 203,303 | 137,870 | |
Equity10/15 |
74,719 | 118,791 | 136,997 | 118,791 | 75,690 | |
Contributions10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
Reserves13 |
108,791 | 108,791 | 126,997 | 108,791 | 65,690 | |
Distributable reserves133 |
108,791 | 108,791 | 126,997 | 108,791 | 65,690 | |
Profit (loss) carried forward14 |
-44,071 | 0 | - | - | - | |
Amounts payable17/49 |
50,104 | 57,164 | 144,472 | 84,512 | 62,179 | |
Amounts payable within one year42/48 |
50,104 | 57,164 | 144,472 | 84,512 | 62,179 | |
Trade debts44 |
4,475 | 3,825 | 81,274 | 3,938 | 8,814 | |
Suppliers440/4 |
4,475 | 3,825 | 81,274 | 3,938 | 8,814 | |
Taxes, remuneration and social security45 |
7,948 | 7,500 | 36,337 | 53,972 | 30,439 | |
Taxes450/3 |
4,348 | 3,900 | 32,737 | 50,372 | 26,839 | |
Remuneration and social security454/9 |
3,600 | 3,600 | 3,600 | 3,600 | 3,600 | |
Other amounts payable47/48 |
37,682 | 45,839 | 26,862 | 26,602 | 22,926 | |
| Income statement | ||||||
Gross operating margin9900 |
-38,300 | 43,771 | 31,886 | 63,877 | 98,446 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
3,953 | 2,633 | 1,804 | 0 | 2,605 | |
Other operating charges640/8 |
801 | 1,627 | 2,212 | 522 | 806 | |
Operating profit (loss)9901 |
-43,054 | 39,511 | 27,870 | 63,356 | 95,035 | |
Financial income75/76B |
3 | 0 | 0 | 4 | 48 | |
Recurring financial income75 |
3 | 0 | 0 | 4 | 48 | |
Financial charges65/66B |
259 | 553 | 460 | 627 | 2,553 | |
Recurring financial charges65 |
259 | 553 | 460 | 627 | 2,553 | |
Profit (loss) for the period before taxes9903 |
-43,310 | 38,959 | 27,411 | 62,733 | 92,529 | |
Income taxes67/77 |
762 | 11,485 | 9,204 | 19,633 | 26,839 | |
Profit (loss) for the period9904 |
-44,071 | 27,473 | 18,206 | 43,100 | 65,690 | |
Profit (loss) for the period to be appropriated9905 |
-44,071 | 27,473 | 18,206 | 43,100 | 65,690 | |
| Appropriation of the result | ||||||
Profit (loss) to be appropriated9906 |
-44,071 | 27,473 | 18,206 | 43,100 | 65,690 | |
Transfer from equity791/2 |
- | 18,206 | - | - | - | |
Transfer to equity691/2 |
- | 0 | 18,206 | 43,100 | 65,690 | |
To other reserves6921 |
- | 0 | 18,206 | 43,100 | 65,690 | |
Profit to be distributed694/7 |
- | 45,680 | - | - | - | |
Return on contributions (dividend)694 |
- | 45,680 | - | - | - | |
| Document | ||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 23-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00330284 | |
| 31-12-2024 | micro format | 07-05-2025 | 2025-00091290 | |
| 31-12-2023 | micro format | 02-05-2024 | 2024-00081615 | |
| 31-12-2022 | micro format | 14-04-2023 | 2023-00060039 | |
| 31-12-2021 | micro format | 13-06-2022 | 2022-20061700 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| EBITDA | -39,101 | 42,145 | 29,674 | 63,356 | 97,640 | |
| Cash flow | -40,118 | 30,107 | 20,010 | 43,100 | 68,295 | |
| Investment in fixed assets (approximation) | 15,708 | 0 | 7,900 | 0 | 2,605 | |
| Change in cash | -62,950 | -25,169 | 45,716 | 2,425 | - | |
| Working capital | 59,502 | 115,328 | 130,901 | 118,791 | 75,690 | |
| Solvency | 59.9% | 67.5% | 48.7% | 58.4% | 54.9% | |
| Current ratio | 2.19 | 3.02 | 1.91 | 2.41 | 2.22 | |
| Quick ratio | 2.19 | 2.98 | 1.18 | 1.97 | 2.17 | |
| Debt to equity | 0.67 | 0.48 | 1.05 | 0.71 | 0.82 | |
| ROE | -59.0% | 23.1% | 13.3% | 36.3% | 86.8% | |
| ROA | -35.3% | 15.6% | 6.5% | 21.2% | 47.6% | |
| Interest coverage | -151.21 | 76.22 | 64.56 | over 100 | 38.24 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,708 | - | €7,900 | - | - |
| Intangible fixed assets | - | - | - | - | €2,605 |
| Depreciation and write-downs of the year | €3,953 | €2,633 | €1,804 | €0 | €2,605 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on Flexitrade
The operating result for 2025 is a loss of €43,054, after a profit of €39,511 in 2024. It is the lowest result since 2021.
Debt's share of the balance-sheet total rises from 32.5% to 40.1%. Equity and debt are lower.
Board & ownership
Board
2 directorsMandates through the years
2 names, the dashed line is todayJonckheere Filip
Director
Director
Knych Loulia
Director
Director
Boardmandate already running before its first mention
Mandates as a list
- Jonckheere Filip
- Director, since before 31-12-2021
- Knych Loulia
- Director, since before 31-12-2025
Control
Capital
- Contribution
- €10,000
- Source
- 2025 annual accounts
Network & group
No group
Flexitrade has no parent and no holdings in its annual accounts. Flexitrade shares no director with another company.
Timeline
Timeline
11 events since 2020Filings
Financial
Establishments
Address
2020202220242026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 8 days before the deadline
2025
Weakest financial year net -€44,071 The net result drops to -€44,071, the lowest from 2021 to 2025.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0748487434
Annual accounts 2024 filed PDFmicro format · 85 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 90 days before the deadline
2023
Annual accounts 2022 filed PDFmicro format · 108 days before the deadline
2022
Equity above €100,000 equity €118,791 ▲56.9% With a profit in every financial year since 2021, equity grows to €118,791.
Annual accounts 2021 filed PDFmicro format · 48 days before the deadline
2021
Registered office moved within OostduinkerkeNew registered office: Ammanswallestraat 42, 8670 Oostduinkerke · Previous registered office: Piet Verhaertstraat 58, 8670 Oostduinkerke1 point ▸
- Registered-office move, Ammanswallestraat 42, 8670 Oostduinkerke
2020
Incorporation PDFpublished on 15-06-2020
First establishment Ammanswallestraat (OdK) 42, Koksijde
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0748.487.434
- VAT number
- BE 0748.487.434
- Peppol ID
- 0208:0748487434
- Other Peppol ID
- 9925:BE0748487434
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 11-06-2020
- Financial year
- ends on 31 December
- Peppol
- Reachable since 17-10-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Flexitrade in Dutch
- Entity type
- Legal entity
Activities
NACEBEL 202546160
Agents in the wholesale of textiles, clothing, fur, footwear and leather goods main activity
Codes under NACEBEL 2008
46160
Wholesale trade main activity
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Ammanswallestraat (OdK) 42 registered office 8670 Koksijde | 11-06-2020 | 2.303.228.079 |
Buildings and parcels at the address
- Ground area
- 573 m²
- Buildings
- 107 m²
- Volume, LiDAR
- 573 m³
- Tallest building
- 8.3 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 38502D0126/00T000 | 573 m² | 1 · 107 m² | 8.3 m · 2 |