FLEXLINK SYSTEMS
ActiveSummary
FLEXLINK SYSTEMS has been active since 2001 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €244,954 and a net result of -€105,039. Equity is shrinking by about 26% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 22% of 6,139 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Wholesale of machine tools
NACE 46620Manufacture of machinery and equipment not elsewhere classified NACE 28220
1 site
Size
€1.2mtotal assets 2025
- Staff
- 4.9 FTE
- Equity
- €244,954
- Loss
- -€105,039
Total assets +177%: capital increase
Structure
- Parent
- Flexlink Systems B.V. · 99.95%
- Marini GiovanniDirector
- Russo LuigiDirector
- Vos HansDirector
Auditor: BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES2025 accounts 15 days early
Why 85raises riskLoss of €105,039, the second in a row (financial year 2025)lowers riskLiquidity: current ratio 1.24, cash €466,921Founded in 2001Size: 4.9 FTE, total assets €1.2mShow the evidence
Checked score
Score 2025
85
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 51% of its sector peers (NACE 46, micro)
Financial strength · tick = 2024
Weak
Solvency
45+45
equity 20.1% of total assets
Liquidity
54+11
short-term debt 79.9% · cash 38.3%
Profitability
8+8
return on assets -8.6%
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.5%
12-2024: 1.5%● unchanged vs 11-2024
01-2025: 1.5%● unchanged vs 12-2024
02-2025: 1.5%● unchanged vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.5%● unchanged vs 03-2025
05-2025: 1.5%● unchanged vs 04-2025
06-2025: 1.4%▼ -0.1 percentage points vs 05-2025
07-2025: 1.4%● unchanged vs 06-2025
08-2025: 1.9%▲ +0.5 percentage points vs 07-2025
09-2025: 4.1%▲ +2.2 percentage points vs 08-2025highest value
10-2025: 4.1%● unchanged vs 09-2025highest value
11-2025: 3.2%▼ -0.9 percentage points vs 10-2025
12-2025: 3.2%● unchanged vs 11-2025
01-2026: 3.2%● unchanged vs 12-2025
02-2026: 3.2%● unchanged vs 01-2026
03-2026: 3.1%▼ -0.1 percentage points vs 02-2026
04-2026: 3.1%● unchanged vs 03-2026
05-2026: 3.0%▼ -0.1 percentage points vs 04-2026
06-2026: 2.8%▼ -0.2 percentage points vs 05-2026
07-2026: 2.9%▲ +0.1 percentage points vs 06-2026
08-2026: 0.3%▼ -2.6 percentage points vs 07-2026lowest value
09-2026: 0.3%● unchanged vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026lowest value
Credit of up to €20,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.24, compared with 0.76 in 2024, below the usual 1.5; short-term debt: 79.9% and cash: 38.3% of total assets), and 79.9% of the assets are financed with debt and provisions.
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 46, micro): better than 31% on solvency, 60% on liquidity, 15% on profitability and 97% on growth.
The bankruptcy probability was computed on 24-10-2026 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
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 6139 sector peers (2025).
NBB · sector comparisonPosition among 6139 sector peers
Solvency
better than 22%
← weakest
strongest →
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 days early
2024
1 day early
2023
7 days early
2022
4 days early
2021
31 days early
2020
30 days early
2019
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days before the deadline; the sector median (NACE 46) for financial year 2024 is 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 25 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
25-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Equity above €200,000equity €244,954
- Capital & sharesCapital increase · Bank account…
Financials · financial year 2025, full format
Turnover
€2.3m▼ 51.5%
2023 · €4.7m
EBIT margin
-9.4%▲ 2.7pp
2023 · -12.0%
Net result
-€105,039▲ 48.0%
2024 · -€202,158
Working capital
€238,193
2024 · -€134,826
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €106,020 in 2025 against €215,194 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€2.3m
2024
Operating result-€0.1m
2025
Net result-€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.2m
2025
Equity€0.2m
2025
Debt€1.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.2m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-9.4%
2024
Return on assets (ROA)-8.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency20.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.24
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)4.9
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€4.7m€2.3m▼ 51.5%
Operating result-€0.1m--€0.2m▼ 98.3%-€0.2m▲ 24.3%€0.2m-€0.6m-€0.6m▲ 1.8%-€0.2m▲ 62.3%-€0.1m▲ 50.7%
Net result-€0.1m--€0.2m▼ 88.6%-€0.2mbelow the sector's middle half▲ 24.3%€0.2mabove the sector's middle half-€0.6mbelow the sector's middle half-€0.5mbelow the sector's middle half▲ 6.3%-€0.2mbelow the sector's middle half▲ 63.0%-€0.1mbelow the sector's middle half▲ 48.0%
EBIT margin-12.0%-9.4%▲ 2.7pp
Equity€1.4m-€1.2m▼ 16.9%€1.0mabove the sector's middle half▼ 15.4%€1.2mabove the sector's middle half▲ 18.4%€0.6mwithin the sector's middle half▼ 49.3%€0.05mbelow the sector's middle half▼ 91.3%-€0.2mbelow the sector's middle half€0.2mbelow the sector's middle half
Total assets€3.4m-€2.2m▼ 35.8%€2.0mwithin the sector's middle half▼ 7.0%€2.7mabove the sector's middle half▲ 34.3%€4.3mabove the sector's middle half▲ 55.5%€1.7mwithin the sector's middle half▼ 60.3%€0.4mbelow the sector's middle half▼ 74.0%€1.2mbelow the sector's middle half▲ 177%
Debt€2.0m-€1.0m▼ 49.2%€1.0m▲ 2.8%€1.6m▲ 50.1%€3.7m▲ 137%€1.6m▼ 55.2%€0.6m▼ 65.8%€1.0m▲ 73.1%
Working capital€0.9m-€1.3m▲ 54.1%€1.1mabove the sector's middle half▼ 17.2%€1.2mabove the sector's middle half▲ 9.6%€0.6mwithin the sector's middle half▼ 51.2%€0.04mbelow the sector's middle half▼ 92.6%-€0.1mbelow the sector's middle half€0.2mwithin the sector's middle half
Solvency41.4%-53.6%▲ 12.2pp48.8%within the sector's middle half▼ 4.8pp43.0%within the sector's middle half▼ 5.8pp14.0%below the sector's middle half▼ 29.0pp3.1%below the sector's middle half▼ 10.9pp-34.0%below the sector's middle half▼ 37.1pp20.1%below the sector's middle half▲ 54.2pp
Current ratio1.47-2.52▲ 1.062.16within the sector's middle half▼ 0.371.77within the sector's middle half▼ 0.381.16below the sector's middle half▼ 0.621.03below the sector's middle half▼ 0.130.76below the sector's middle half▼ 0.271.24within the sector's middle half▲ 0.48
Return on assets (ROA)-3.7%--10.9%▼ 7.2pp-8.9%below the sector's middle half▲ 2.0pp6.7%within the sector's middle half▲ 15.5pp-13.7%below the sector's middle half▼ 20.3pp-32.2%below the sector's middle half▼ 18.6pp-45.9%below the sector's middle half▼ 13.7pp-8.6%below the sector's middle half▲ 37.3pp
Staff (FTE)5.6-3.6▼ 35.7%4.2within the sector's middle half▲ 16.7%4.2within the sector's middle half=4.9within the sector's middle half▲ 16.7%3.9within the sector's middle half▼ 20.4%7.1within the sector's middle half▲ 82.1%4.9within the sector's middle half▼ 31.0%
above
within
below
the middle half of NACE 46, Wholesale trade: 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.
Why a figure moved sharply
- 2025 Total assets +177% on 2024. Capital increase of €500,000 (Official Gazette 29-12-2025).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€7,197 ▼ 46.0%
Current assets
€1.2m ▲ 183%
Equity and liabilities €1.2m
Equity
€244,954
Provisions
€436
Debt
€972,930
Debt finances 79.9% of the balance-sheet total.
Key figures and ratios
EBITDA
-€99,885▲
2024 · -€208,726
Cash flow
-€98,904▲
2024 · -€195,689
Quick ratio
1.02▲
2024 · 0.70
Debt to equity
3.97
ROE
-42.9%
Interest coverage
-62.70▲
2024 · -104.50
Debt ≤ 1 year
€972,930▲
2024 · €562,084
Income taxes
€258▼
2024 · €487
Staff costs
€579,672▼
2024 · €662,480
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,450 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 93.2% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.5%
went bankrupt
5.1%
stopped otherwise
93.2%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 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 2,450 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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €4.7m | €2.3m | - | - |
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €3.5m | €1.8m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.6m | €0.4m | €0.7m | €0.6m | ▼ 12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.007m | €0.005m | €0.003m | €0.004m | €0.004m | €0.006m | €0.006m | ▼ 5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.01m | €0.7m | -€0.6m | -€0.05m | €0 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €0.03m | -€0.03m | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.002m | €389 | €0.006m | €0.001m | ▼ 82.1% |
| Non-recurring operating charges66A | - | - | - | €0.003m | €0 | - | - | - | - |
| Gross operating margin9900 | €0.6m | €0.3m | €0.4m | €0.7m | €0.7m | -€0.8m | €0.4m | €0.5m | ▲ 2.5% |
| Operating profit (loss)9901 | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.6m | -€0.2m | -€0.1m | ▲ 50.7% |
| Financial income75/76B | - | - | - | - | €0.003m | €0.03m | €0.02m | €0.003m | ▼ 81.8% |
| Recurring financial income75 | €0.001m | €0.001m | €0 | - | €0.003m | €0.03m | €0.02m | €0.003m | ▼ 81.8% |
| Financial charges65/66B | - | - | - | €0.005m | €0.004m | €0.003m | €0.002m | €0.002m | ▼ 20.2% |
| Recurring financial charges65 | €0.01m | €0.009m | €0.007m | €0.005m | €0.004m | €0.003m | €0.002m | €0.002m | ▼ 20.2% |
| Profit (loss) for the period before taxes9903 | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.5m | -€0.2m | -€0.1m | ▲ 48.0% |
| Income taxes67/77 | €0.001m | €0.001m | €224 | €277 | €425 | €212 | €487 | €258 | ▼ 47.0% |
| Profit (loss) for the period9904 | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.5m | -€0.2m | -€0.1m | ▲ 48.0% |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.5m | -€0.2m | -€0.1m | ▲ 48.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.4m | €2.2m | €2.0m | €2.7m | €4.3m | €1.7m | €0.4m | €1.2m | ▲ 177% |
| Fixed assets21/28 | €0.7m | €0.01m | €0.007m | €0.001m | €0.01m | €0.009m | €0.01m | €0.007m | ▼ 46.0% |
| Intangible fixed assets21 | €0.005m | €0.003m | €206 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.01m | €0.007m | €0.006m | €0.001m | €0.01m | €0.009m | €0.01m | €0.007m | ▼ 46.0% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.006m | €0.003m | €0.009m | €0.005m | ▼ 48.2% |
| Other tangible fixed assets26 | - | - | - | €0 | €0.007m | €0.006m | €0.004m | €0.002m | ▼ 41.1% |
| Financial fixed assets28 | €0.7m | €0.001m | €0.001m | €0.001m | €0 | - | - | - | - |
| Current assets29/58 | €2.7m | €2.2m | €2.0m | €2.7m | €4.3m | €1.7m | €0.4m | €1.2m | ▲ 183% |
| Stocks and contracts in progress3 | €0.04m | €0.008m | €0 | €0.2m | €1.5m | €0.08m | €0.03m | €0.2m | ▲ 571% |
| Stocks30/36 | - | - | - | €50 | €0.002m | €0 | - | - | - |
| Contracts in progress37 | - | - | - | €0.2m | €1.5m | €0.08m | €0.03m | €0.2m | ▲ 571% |
| Amounts receivable within one year40/41 | €1.4m | €0.5m | €0.7m | €0.4m | €0.8m | €0.6m | €0.2m | €0.5m | ▲ 121% |
| Trade receivables40 | - | - | - | €0.4m | €0.7m | €0.6m | €0.2m | €0.5m | ▲ 122% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.02m | €0.01m | €0.001m | €421 | ▼ 57.5% |
| Cash at bank and in hand54/58 | €1.0m | €1.5m | €1.2m | €2.1m | €2.0m | €1.0m | €0.2m | €0.5m | ▲ 206% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.003m | €0 | €0.01m | €0.01m | ▲ 22.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.4m | €2.2m | €2.0m | €2.7m | €4.3m | €1.7m | €0.4m | €1.2m | ▲ 177% |
| Equity10/15 | €1.4m | €1.2m | €1.0m | €1.2m | €0.6m | €0.05m | -€0.2m | €0.2m | - |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.6m | ▲ 806% |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.6m | ▲ 806% |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.6m | ▲ 806% |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | €1.3m | €1.1m | €0.9m | €1.1m | €0.5m | -€0.02m | -€0.2m | -€0.3m | ▼ 48.1% |
| Provisions and deferred taxes16 | €0.03m | €0.01m | €0.01m | €0.01m | €0 | - | €0.03m | €436 | ▼ 98.5% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.01m | €0 | - | €0.03m | €436 | ▼ 98.5% |
| Other liabilities and charges164/5 | - | - | - | €0.01m | €0 | - | €0.03m | €436 | ▼ 98.5% |
| Amounts payable17/49 | €2.0m | €1.0m | €1.0m | €1.6m | €3.7m | €1.6m | €0.6m | €1.0m | ▲ 73.1% |
| Amounts payable within one year42/48 | €1.8m | €0.9m | €0.9m | €1.5m | €3.7m | €1.6m | €0.6m | €1.0m | ▲ 73.1% |
| Trade debts44 | €1.6m | €0.6m | €0.6m | €0.4m | €1.5m | €1.0m | €0.3m | €0.3m | ▲ 16.5% |
| Suppliers440/4 | - | - | - | €0.4m | €1.5m | €1.0m | €0.3m | €0.3m | ▲ 16.5% |
| Advances received on contracts in progress46 | - | - | - | €1.0m | €2.0m | €0.5m | €0.2m | €0.5m | ▲ 193% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.1m | €0.2m | €0.1m | €0.1m | ▲ 13.0% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.09m | €0.007m | €0.04m | ▲ 444% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.08m | €0.1m | €0.09m | ▼ 16.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.5m | -€0.2m | -€0.1m | ▲ 48.0% |
| + Depreciation and write-downs630 | €0.01m | €0.007m | €0.005m | €0.003m | €0.004m | €0.004m | €0.006m | €0.006m | ▼ 5.2% |
| Operating cash flow (approximation) | -€0.1m | -€0.2m | -€0.2m | €0.2m | -€0.6m | -€0.5m | -€0.2m | -€0.1m | ▲ 49.5% |
| Investment in fixed assets (approximation) | - | €0.7m | -€0.002m | €0.003m | -€0.02m | €0 | -€0.01m | €0 | - |
| Change in cash | - | €0.5m | -€0.2m | €0.9m | -€0.1m | -€1.0m | -€0.8m | €0.3m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 16-07-2026 | 2026-00312663 |
| 31-12-2024 | abbreviated format | 30-07-2025 | 2025-00355699 |
| 31-12-2023 | abbreviated format | 24-07-2024 | 2024-00282648 |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00297726 |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20163008 |
| 31-12-2020 | abbreviated format | 01-07-2021 | 2021-30300520 |
| 31-12-2019 | abbreviated format | 16-07-2020 | 2020-31800504 |
| 31-12-2018 | abbreviated format | 01-08-2019 | 2019-43800281 |
| 31-12-2017 | abbreviated format | 02-08-2018 | 2018-42500336 |
| 31-12-2016 | full format | 31-07-2017 | 2017-39900148 |
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Subsidies and aid
Flemish government
2024 · 1 entry · €344 awarded · €344 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
under verification, no change since 2025
This board is reconstructed from a single act (25126993). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
Marini Giovanni
CurrentDirector · since 01-06-2025
Russo Luigi
CurrentDirector · since 01-06-2025
Vos Hans
CurrentDirector · since 01-06-2025
3 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Vandewalle Philippe
Not recently confirmedChair of the board · since 15-06-2011 · Director · since 15-06-2011
Lundberg Kennet
Not recently confirmedDirector · since 15-04-2006
Olaf Witschas
Not recently confirmedDirector · since 01-06-2018
Day-to-day management 1
Vandewalle Philippe
Not recently confirmedManaging director · since 15-06-2011
Statutory auditor 1
BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
CurrentAuditor · since 17-09-2012 · permanent representative: Katleen Daems
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Mandate history
25 people since 2004, 7 in office
- Board
- Day-to-day management
- Statutory auditor
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| Marini Giovanni |
|
| Russo Luigi |
|
| Vos Hans |
|
| BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES |
|
| Lundberg Kennet |
|
| Vandewalle Philippe |
|
| Olaf Witschas |
|
| Menabue Chiara |
|
| Persson Maria |
|
| Adolfsson Tom |
|
| Arthur Menten |
|
| Mélanie Saugère |
|
| SCHMITZ Alexander |
|
| Koch Thorsten |
|
| Olaf Witschaß |
|
| Paolo Pusceddu |
|
| Carl Erik Anders Backman |
|
| Matthias Byström |
|
| Serge Abou-Jaoudé |
|
| Carina Karlsson |
|
| Guido Ceresole |
|
| Deloitte & Partners Bedrijfsrevisoren |
|
| Philippe Vandewalie |
|
| Jérôme Bootz |
|
| Stefanus Hallegraeff |
|
Owners and capital
Owners
2 ownersChain of control
- IS.CO S.R.L.IT
- Flexlink Systems B.V.NL
- FLEXLINK SYSTEMS
Highest known parent: IS.CO S.R.L. (Italy). The sources do not say who stands above it.
Owners 2
- Flexlink Systems B.V.NLparentSourceown accounts 202599.95%
- Flexlink A.B.SESourceown accounts 20250.05%
According to the 2025 annual accounts of FLEXLINK SYSTEMS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital over the years
- 29-12-2025 Capital increase of €500,000 · to €562,000 · in cash
- 11-10-2023 Capital stated in the deed · €62,000 · 10,000 shares
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Linked via shared directors
JCI GENK
Shared director
→
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
financial year 2025 · full format
2025
31-12
Financial
Equity above €200,000equity €244,954
Equity rises from -€150,006 to €244,954.
29-12
Gazette deed
Capital & sharesCapital increase · Bank account · Capital8 facts ▸
Gazette deed
Capital & shares
Capital increase · Bank account · Capital8 facts ▸
- General meeting, 17-12-2025
- Capital increase, €500,000
- Bank account, “BNP Paribas Fortis”, 500000 (deed in Dutch)
- Other provision, “vergoeding kapitaalverhoging, evenredige verhoging fractiewaarde bestaande aandelen” (deed in Dutch)
- Capital, €562,000
- Amendment of the articles, 5
- Power of attorney
- Power of attorney, Hugo Kuijpers
07-10
Gazette deed
Resignations: Persson Maria (director) and Menabue Chiara (director)Appointments: Marini Giovanni, Russo Luigi and Hans VOS · Power of attorney12 facts ▸
Gazette deed
Resignations: Persson Maria (director) and Menabue Chiara (director)
Appointments: Marini Giovanni, Russo Luigi and Hans VOS · Power of attorney12 facts ▸
- General meeting, 27-06-2025
- Director resignation, Persson Maria (director)
- Director resignation, Menabue Chiara (director)
- Director appointment, Marini Giovanni (director)
- Director appointment, Russo Luigi (director)
- Director appointment, Hans VOS (director)
- Other provision, “vergadering, dankbetuiging gewezen bestuurders” (deed in Dutch)
- Other provision, “vergadering”, 01-06-2025 (deed in Dutch)
- Board meeting, 27-06-2025
- Power of attorney, Hans VOS (2 times)
- Power of attorney, Arthur MENTEN (2 times)
- Power of attorney, Robert ROMMERS (2 times)
30-07
NBB filing
Annual accounts filed
financial year 2024 · abbreviated format
2024
11-12
Gazette deed
Resignation: Adolfsson Tom (director)Appointment: Menabue Chiara (director) · Reappointment: BDO BEDRIJFSREVISOREN BV (statutory auditor) · Power of attorney9 facts ▸
Gazette deed
Resignation: Adolfsson Tom (director)
Appointment: Menabue Chiara (director) · Reappointment: BDO BEDRIJFSREVISOREN BV (statutory auditor) · Power of attorney9 facts ▸
- General meeting, 28-06-2024
- Director resignation, Adolfsson Tom (director)
- Other provision, “dank aan gewezen bestuurder” (deed in Dutch)
- Director appointment, Menabue Chiara (director)
- Auditor reappointment, BDO BEDRIJFSREVISOREN BV
- Board meeting, 03-07-2024
- Power of attorney, Hans VOS (2 times)
- Power of attorney, Arthur MENTEN (2 times)
- Power of attorney, Robert ROMMERS (2 times)
24-07
NBB filing
Annual accounts filed
financial year 2023 · abbreviated format
2023
11-10
Gazette deed
Registered office · Purpose · Amendment of the articlesRegistered-office move · Board rule · Capital8 facts ▸
Gazette deed
Registered office · Purpose · Amendment of the articles
Registered-office move · Board rule · Capital8 facts ▸
- General meeting, 29-09-2023
- Registered-office move, 3001 Leuven,Ambachtenlaan 21-3B
- Board rule, “samenstelling bestuursorgaan, vijfde besluit met volledig nieuwe statuten” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital, €62,000
- Capital
- Power of attorney
- Power of attorney, Hugo Kuijpers
27-07
NBB filing
Annual accounts filed
financial year 2022 · abbreviated format
13-02
Gazette deed
Appointments: Persson Maria (director) and Tom ADOLFSSON (director)Resignations: Koch Thorsten, Alexander SCHMITZ and 2 others · Mandate compensation · Power of attorney14 facts ▸
Gazette deed
Appointments: Persson Maria (director) and Tom ADOLFSSON (director)
Resignations: Koch Thorsten, Alexander SCHMITZ and 2 others · Mandate compensation · Power of attorney14 facts ▸
- General meeting, 30-06-2022
- Director appointment, Persson Maria (director)
- Mandate compensation, Persson Maria
- Director resignation, Koch Thorsten (director)
- General meeting, 22-11-2022
- Director resignation, Alexander SCHMITZ (director)
- Director appointment, Tom ADOLFSSON (director)
- Mandate compensation, Tom ADOLFSSON
- Board meeting, 22-11-2022
- Director resignation, Mélanie SAUGERE (day-to-day manager)
- Director resignation, Arthur MENTEN (day-to-day manager)
- Power of attorney, Hans VOS
- +2 further facts in this act
2022
31-12
Financial
Weakest financial yearnet -€582,564
Net result drops to -€582,564, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
financial year 2021 · abbreviated format
Show earlier events
25-02
Gazette deed
Registered office · Resignations & appointmentsRegistered-office move2 facts ▸
Gazette deed
Registered office · Resignations & appointments
Registered-office move2 facts ▸
- Board meeting, 31-01-2022
- Registered-office move, 3001 Heverlee, Industrieterrein Haasrode, Ambachtenlaan 21-7B
2021
31-12
Financial
Back to profitnet €183,766
Net result €183,766 after 3 loss-making years.
31-12
Financial
Equity above €1mequity €1.2m ▲18.4%
Equity rises from €996,862 to €1.2m.
04-08
Gazette deed
Reappointment: BDO Bedrijfsrevisoren CVBA (statutory auditor)2 facts ▸
Gazette deed
Reappointment: BDO Bedrijfsrevisoren CVBA (statutory auditor)
2 facts ▸
- General meeting, 30-06-2021
- Auditor reappointment, BDO Bedrijfsrevisoren CVBA (statutory auditor)
01-07
NBB filing
Annual accounts filed
financial year 2020 · abbreviated format
25-03
Gazette deed
Appointments: Mélanie Saugère (day-to-day manager) and Arthur Menten (day-to-day manager)Power of attorney5 facts ▸
Gazette deed
Appointments: Mélanie Saugère (day-to-day manager) and Arthur Menten (day-to-day manager)
Power of attorney5 facts ▸
- Board meeting, 12-02-2021
- Director appointment, Mélanie Saugère (day-to-day manager)
- Director appointment, Arthur Menten (day-to-day manager)
- Power of attorney, Mélanie Saugère
- Power of attorney, Arthur Menten
2020
16-07
NBB filing
Annual accounts filed
financial year 2019 · abbreviated format
11-05
Gazette deed
Reappointment: BDO Bedrijfsrevisoren BDO Réviseurs d'entreprises coöperatieve vennootschap met beperkte aansprakelijkheid (statutory auditor)2 facts ▸
Gazette deed
Reappointment: BDO Bedrijfsrevisoren BDO Réviseurs d'entreprises coöperatieve vennootschap met beperkte aansprakelijkheid (statutory auditor)
2 facts ▸
- General meeting, 31-07-2018
- Auditor reappointment, BDO Bedrijfsrevisoren BDO Réviseurs d'entreprises coöperatieve vennootschap met beperkte aansprakelijkheid
18-02
Gazette deed
Resignation: Olaf Witschaß (director)Appointment: Thorsten Koch (director) · Permanent representative: Katleen Daems · Mandate compensation6 facts ▸
Gazette deed
Resignation: Olaf Witschaß (director)
Appointment: Thorsten Koch (director) · Permanent representative: Katleen Daems · Mandate compensation6 facts ▸
- General meeting, 22-11-2019
- Director resignation, Olaf Witschaß (director)
- Director appointment, Thorsten Koch (director)
- Mandate compensation, Thorsten Koch
- Board meeting, 22-11-2019
- Permanent representative, Katleen Daems
2019
22-11
Gazette deed
Resignation: Paolo Pusceddu (director)Appointment: Alexander Schmitz (director) · Mandate compensation4 facts ▸
Gazette deed
Resignation: Paolo Pusceddu (director)
Appointment: Alexander Schmitz (director) · Mandate compensation4 facts ▸
- General meeting, 04-10-2019
- Director resignation, Paolo Pusceddu (director)
- Director appointment, Alexander Schmitz (director)
- Mandate compensation, Alexander Schmitz
03-10
Gazette deed
Resignation: Carl Erik Anders Backman (director)Appointment: Paolo Pusceddu (director) · Mandate compensation4 facts ▸
Gazette deed
Resignation: Carl Erik Anders Backman (director)
Appointment: Paolo Pusceddu (director) · Mandate compensation4 facts ▸
- General meeting, 25-06-2019
- Director resignation, Carl Erik Anders Backman (director)
- Director appointment, Paolo Pusceddu (director)
- Mandate compensation, Paolo Pusceddu
01-08
NBB filing
Annual accounts filed
financial year 2018 · abbreviated format · 1 day late
2018
02-08
NBB filing
Annual accounts filed
financial year 2017 · abbreviated format · 2 days late
16-07
Gazette deed
Resignations: Matthias Byström (director) and Serge Abou-Jaoudé (director)Appointments: Olaf Witschas (director) and Carl Erik Anders Backman (director) · Mandate compensation6 facts ▸
Gazette deed
Resignations: Matthias Byström (director) and Serge Abou-Jaoudé (director)
Appointments: Olaf Witschas (director) and Carl Erik Anders Backman (director) · Mandate compensation6 facts ▸
- General meeting, 04-06-2018
- Director resignation, Matthias Byström (director)
- Director resignation, Serge Abou-Jaoudé (director)
- Director appointment, Olaf Witschas (director)
- Director appointment, Carl Erik Anders Backman (director)
- Mandate compensation, Flexlink Systems
2017
31-07
NBB filing
Annual accounts filed
financial year 2016 · full format
01-03
Gazette deed
Resignation: Carina Karlsson (director)Appointment: Matthias Byström (director) · Director discharge4 facts ▸
Gazette deed
Resignation: Carina Karlsson (director)
Appointment: Matthias Byström (director) · Director discharge4 facts ▸
- General meeting, 17-06-2016
- Director resignation, Carina Karlsson (director)
- Director discharge, Carina Karlsson
- Director appointment, Matthias Byström (director)
2015
11-08
Gazette deed
Resignation: Guido Ceresole (director)Reappointments: Serge Abou-Jaoudé (director) and BDO Bedrijfsrevisoren (statutory auditor) · Appointments: Carina Karlsson (director) and Serge Abou-Jaoudé (chair of the board) · Mandate compensation10 facts ▸
Gazette deed
Resignation: Guido Ceresole (director)
Reappointments: Serge Abou-Jaoudé (director) and BDO Bedrijfsrevisoren (statutory auditor) · Appointments: Carina Karlsson (director) and Serge Abou-Jaoudé (chair of the board) · Mandate compensation10 facts ▸
- General meeting, 27-05-2015
- Director resignation, Guido Ceresole (director)
- Director reappointment, Serge Abou-Jaoudé (director)
- Director appointment, Carina Karlsson (director)
- Mandate compensation, Serge Abou-Jaoudé
- Mandate compensation, Carina Karlsson
- Auditor reappointment, BDO Bedrijfsrevisoren
- Board meeting, 27-05-2015
- Director reappointment, Serge Abou-Jaoudé (managing director)
- Director appointment, Serge Abou-Jaoudé (chair of the board)
2012
06-11
Gazette deed
Reappointment: BDO Bedrijfsrevisoren (statutory auditor)Permanent representative: Stefan Molenaers3 facts ▸
Gazette deed
Reappointment: BDO Bedrijfsrevisoren (statutory auditor)
Permanent representative: Stefan Molenaers3 facts ▸
- General meeting, 17-09-2012
- Auditor reappointment, BDO Bedrijfsrevisoren (statutory auditor)
- Permanent representative, Stefan Molenaers
2011
11-10
Gazette deed
Resignation: Philippe Vandewalie (director)Appointment: Serge Abou-Jaoudé (director) · Mandate compensation7 facts ▸
Gazette deed
Resignation: Philippe Vandewalie (director)
Appointment: Serge Abou-Jaoudé (director) · Mandate compensation7 facts ▸
- General meeting, 11-07-2011
- Board meeting, 11-07-2011
- Director resignation, Philippe Vandewalie (director)
- Director resignation, Philippe Vandewalie (managing director and chair of the board)
- Director appointment, Serge Abou-Jaoudé (director)
- Mandate compensation, Serge Abou-Jaoudé
- Director appointment, Serge Abou-Jaoudé (managing director and chair of the board)
04-08
Gazette deed
Resignation: Jérôme Bootz (director)Appointment: Philippe Vandewalle (director) · Mandate compensation9 facts ▸
Gazette deed
Resignation: Jérôme Bootz (director)
Appointment: Philippe Vandewalle (director) · Mandate compensation9 facts ▸
- General meeting, 15-06-2011
- Director resignation, Jérôme Bootz (director)
- Director resignation, Jérôme Bootz (managing director)
- Director resignation, Jérôme Bootz (chair of the board)
- Director appointment, Philippe Vandewalle (director)
- Mandate compensation, Philippe Vandewalle
- Board meeting, 15-06-2011
- Director appointment, Philippe Vandewalle (managing director)
- Director appointment, Philippe Vandewalle (chair of the board)
2010
14-05
Gazette deed
Resignation: Philippe Vandewalle (director)Appointment: Jérôme Bootz (director) · Mandate compensation8 facts ▸
Gazette deed
Resignation: Philippe Vandewalle (director)
Appointment: Jérôme Bootz (director) · Mandate compensation8 facts ▸
- General meeting, 01-03-2010
- Director resignation, Philippe Vandewalle (director)
- Director resignation, Philippe Vandewalle (managing director)
- Director appointment, Jérôme Bootz (director)
- Mandate compensation, Jérôme Bootz
- Board meeting, 01-03-2010
- Director appointment, Jérôme Bootz (managing director)
- Director appointment, Jérôme Bootz (chair of the board)
2007
07-06
Gazette deed
Reappointments: Lundberg Kennet (director) and Ceresole Guido (director)Mandate compensation7 facts ▸
Gazette deed
Reappointments: Lundberg Kennet (director) and Ceresole Guido (director)
Mandate compensation7 facts ▸
- General meeting, 15-04-2006
- Director reappointment, Lundberg Kennet (director)
- Director reappointment, Ceresole Guido (director)
- Mandate compensation, Lundberg Kennet
- Mandate compensation, Ceresole Guido
- Board meeting, 15-04-2008
- Director reappointment, Ceresole Guido (managing director)
2005
17-01
Gazette deed
Resignations: Stefanus Hallegraeff (director) and KPMG Bedrijfsrevisoren (statutory auditor)Appointments: Guido Ceresole (director) and Deloitte & Partners Bedrijfsrevisoren (statutory auditor) · Registered-office move · Amendment of the articles8 facts ▸
Gazette deed
Resignations: Stefanus Hallegraeff (director) and KPMG Bedrijfsrevisoren (statutory auditor)
Appointments: Guido Ceresole (director) and Deloitte & Partners Bedrijfsrevisoren (statutory auditor) · Registered-office move · Amendment of the articles8 facts ▸
- General meeting, 20-12-2004
- Registered-office move, Heverlee, Ambachtenlaan 21-8
- Amendment of the articles (2 times)
- Director resignation, Stefanus Hallegraeff (director)
- Director appointment, Guido Ceresole (director)
- Mandate compensation, Guido Ceresole
- Auditor appointment, Deloitte & Partners Bedrijfsrevisoren
- Auditor resignation, KPMG Bedrijfsrevisoren (statutory auditor)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 25 annual accounts filed, the latest 10 are here; all 25 are under Financials.
21 of 21 deeds read
Register details
Identification
Legal formPublic limited company
Founded22-01-2001
Financial year end31-12
Activities, NACEBEL 2025
28220Manufacture of machinery and equipment not elsewhere classified
46620Wholesale of machine tools
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473907950
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 25 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
254900KA3JQEOZHX2I31
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2001
Ground area
9,753 m²
Building footprint
5,513 m²
Building volume
32,784 m³
Parcel 24514C0164/08B000, Flanders · tallest building 7.4 m. Linked by address, not a title deed.
1 establishment unit
Ambachtenlaan 21-3B, 3001 Leuven
since 2001unit no. 2.100.110.574
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24514C0164/08B000 | Flanders | 9,753 m² | 1 · 5,513 m² | 7.4 m · 2 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De vennootschap heeft tot voorwerp de levering van goederen en het verrichten van diensten,dit ten behoeve van de automatisering van…” (deed in Dutch)
5 activities (deed in Dutch)
- De vennootschap heeft tot voorwerp de levering van goederen en het verrichten van diensten,dit ten behoeve van de automatisering van productieprocessen.
- De vennootschap kan alle hoegenaamde handels-,nijverheids-,financiële,roerende en onroerende verrichtingen uitvoeren,die rechtstreeks of onrechtstreeks in verband staan met haar voorwerp of die van aard zijn dit te begunstigen.
- De vennootschap kan bij wijze van inschrijving,inbreng,fusie,samenwerking,financiële tussenkomst of anderszins een belang of deelneming verwerven in alle bestaande of nog op te richten vennootschappen,ondernemingen,bedrijvigheden of verenigingen zonder onderscheid,in België of in het buitenland.
- De vennootschap mag deze belangen of deelnemingen beheren,valoriseren en te gelde maken,alsook rechtstreeks of onrechtstreeks deelnemen aan het bestuur,de directie,de controle en vereffening van de vennootschappen,ondernemingen,bedrijvigheden en verenigingen waarin zij een belang of deelneming heeft.
- Zij kan zich ten gunste van de vennootschappen,ondernemingen,bedrijvigheden en verenigingen waarin zij een belang of deelneming heeft borgstellen of haar aval verlenen,optreden als agent of vertegenwoordiger,voorschotten toestaan,kredieten verlenen,hypothecaire of andere zekerheden verstrekken.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FLEXLINK SYSTEMS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Van algemene vergadering van benoeming tot gewone algemene vergadering in boekjaar waarin mandaat volgens benoemingsbesluit verstrijkt…” (deed in Dutch)“Algemene vergadering kan bij gewone meerderheid aan bepaalde bestuurders bezoldiging toekennen, in principe onbezoldigd” (deed in Dutch)1 more provision on this in the deed
- Permanent representative ruleA company that is a director names a natural person to carry out the mandate on its behalf.
- “Benoemt vaste vertegenwoordiger belast met uitvoering opdracht in naam en voor rekening rechtspersoon, rechtspersoon aangewezen tot…” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- “ARTIKEL 23. BIJEENKOMST - BIJEENROEPING De gewone algemene vergadering, ook jaarvergadering genoemd, heeft elk jaar plaats op de vijftiende…” (deed in Dutch)
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed