FLEXMAIL
ActiveSummary
FLEXMAIL has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €425,566. Equity is shrinking by about 17% per year across the filed financial years. Its solvency ranks better than 46% of 1,677 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Staff
- 21.5 FTE
- Equity
- €1.1m
- Profit
- €425,566
- Parent
- COMBELL · 100%
Why 97lowers riskLiquidity: current ratio 2.91, cash €698,861Figures for financial year 2025 (filed 29-07-2026)Sector: Computer programming, consultancy and related activities (NACE 62)Profit of €425,566 (financial year 2025)Show the evidence
Checked score
Fewer than 1 in 1,000 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 62, small): better than 44% on solvency, 86% on liquidity, 80% on profitability and 86% on growth.
The bankruptcy probability was computed on 26-10-2026 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).
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Signals
This company filed its last 7 accounts on average 18 days before the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Equity above €1mequity €1.1m ▲66.4%
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 45% above 2024 and is the highest 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 62, Computer programming, consultancy and related activities: 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 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96.5% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,445 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 17,811 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €2.6m | €2.5m | €2.5m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.005m | €496 | €0.003m | €248 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1.1m | €1.3m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.1m | €1.2m | €1.4m | €1.5m | €1.6m | ▲ 11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.09m | €0.05m | €0.2m | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | ▼ 28.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.001m | €0.003m | -€414 | €0.005m | €0.008m | ▲ 81.3% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.003m | €0.003m | €0.003m | €0.002m | ▼ 12.5% |
| Gross operating margin9900 | €2.0m | €1.6m | €1.7m | €1.8m | €1.6m | €2.0m | €2.4m | €2.6m | ▲ 8.5% |
| Operating profit (loss)9901 | €0.9m | €0.7m | €0.4m | €0.2m | -€0.09m | €0.08m | €0.4m | €0.6m | ▲ 44.5% |
| Financial income75/76B | - | - | - | €179 | €0.007m | €357 | €0.01m | €0.003m | ▼ 73.6% |
| Recurring financial income75 | €0.09m | €0.08m | €0.001m | €179 | €0.007m | €357 | €0.01m | €0.003m | ▼ 73.6% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 35.6% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 35.6% |
| Profit (loss) for the period before taxes9903 | €1.0m | €0.7m | €0.4m | €0.2m | -€0.1m | €0.06m | €0.4m | €0.5m | ▲ 42.3% |
| Income taxes67/77 | €0.3m | €0.2m | €0.1m | €0.02m | €0.003m | €0.004m | €0.02m | €0.1m | ▲ 558% |
| Profit (loss) for the period9904 | €0.7m | €0.5m | €0.3m | €0.2m | -€0.1m | €0.05m | €0.4m | €0.4m | ▲ 18.5% |
| Profit (loss) for the period to be appropriated9905 | €0.7m | €0.5m | €0.3m | €0.2m | -€0.1m | €0.05m | €0.4m | €0.4m | ▲ 18.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.5m | €2.4m | €2.6m | €2.9m | €2.3m | €2.3m | €2.9m | €3.1m | ▲ 4.9% |
| Fixed assets21/28 | €0.8m | €1.4m | €1.7m | €1.7m | €1.6m | €1.4m | €1.4m | €1.5m | ▲ 11.0% |
| Intangible fixed assets21 | €0.02m | €0.02m | €1.6m | €1.2m | €1.5m | €1.0m | €0.5m | €1.1m | ▲ 115% |
| Tangible fixed assets22/27 | €0.8m | €1.4m | €0.1m | €0.5m | €0.04m | €0.4m | €0.8m | €0.3m | ▼ 57.3% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.02m | €0.005m | €0.02m | ▲ 255% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.001m | €0.001m | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.006m | €105 | - | - | - | - |
| Assets under construction and advance payments27 | - | - | - | €0.5m | €0.02m | €0.4m | €0.8m | €0.3m | ▼ 59.3% |
| Financial fixed assets28 | €0.004m | €0.004m | €0.004m | €0.007m | €0.007m | €0.01m | €0.03m | €0.04m | ▲ 26.6% |
| Current assets29/58 | €3.6m | €0.9m | €0.9m | €1.2m | €0.8m | €0.9m | €1.6m | €1.5m | ▼ 0.4% |
| Amounts receivable within one year40/41 | €3.1m | €0.4m | €0.4m | €0.3m | €0.4m | €0.5m | €0.5m | €0.7m | ▲ 34.6% |
| Trade receivables40 | - | - | - | €0.2m | €0.4m | €0.5m | €0.5m | €0.5m | ▼ 9.3% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.02m | €0.02m | - | €0.2m | - |
| Cash at bank and in hand54/58 | €0.5m | €0.5m | €0.5m | €0.8m | €0.3m | €0.3m | €0.9m | €0.7m | ▼ 26.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.06m | €0.05m | €0.06m | €0.1m | ▲ 85.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.5m | €2.4m | €2.6m | €2.9m | €2.3m | €2.3m | €2.9m | €3.1m | ▲ 4.9% |
| Equity10/15 | €3.0m | €1.3m | €1.6m | €1.8m | €1.0m | €0.8m | €0.6m | €1.1m | ▲ 66.4% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €2.5m | €0.8m | €1.1m | €1.3m | €0.5m | €0.2m | €0.09m | €0.5m | ▲ 461% |
| Non-distributable reserves130/1 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Tax-exempt reserves132 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Distributable reserves133 | - | - | - | €1.2m | €0.4m | €0.2m | €0.03m | €0.5m | ▲ 16× |
| Amounts payable17/49 | €1.5m | €1.1m | €1.0m | €1.1m | €1.3m | €1.5m | €2.3m | €2.0m | ▼ 12.3% |
| Amounts payable within one year42/48 | €0.6m | €0.3m | €0.2m | €0.2m | €0.3m | €0.4m | €0.9m | €0.5m | ▼ 41.3% |
| Trade debts44 | €0.2m | €0.2m | €0.07m | €0.07m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 67.4% |
| Suppliers440/4 | - | - | - | €0.07m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 67.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 11.5% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.04m | €0.08m | €0.08m | ▲ 4.7% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 14.5% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.5m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.8m | €1.0m | €1.2m | €1.4m | €1.5m | ▲ 6.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €703,859 | €507,592 | €310,891 | €210,520 | -€109,536 | €54,569 | €359,142 | €425,566 | ▲ 18.5% |
| + Depreciation and write-downs630 | €85,898 | €52,046 | €240,666 | €382,535 | €427,531 | €509,906 | €503,478 | €359,652 | ▼ 28.6% |
| Operating cash flow (approximation) | €789,757 | €559,638 | €551,557 | €593,055 | €317,995 | €564,475 | €862,620 | €785,219 | ▼ 9.0% |
| Investment in fixed assets (approximation) | - | -€663,555 | -€497,223 | -€379,468 | -€289,436 | -€388,855 | -€435,044 | -€510,516 | ▼ 17.3% |
| Change in cash | - | €49,306 | -€43,077 | €360,831 | -€528,287 | €4,008 | €652,195 | -€246,844 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 29-07-2026 | 2026-00359751 |
| 31-12-2024 | abbreviated format | 24-07-2025 | 2025-00319227 |
| 31-12-2023 | abbreviated format | 29-07-2024 | 2024-00314751 |
| 31-12-2022 | abbreviated format | 13-07-2023 | 2023-00241806 |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20126460 |
| 31-12-2020 | abbreviated format | 13-07-2021 | 2021-35000043 |
| 31-12-2019 | abbreviated format | 16-06-2020 | 2020-17800270 |
| 31-12-2018 | abbreviated format | 15-07-2019 | 2019-33000446 |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-26200480 |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-26900506 |
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
Statutory auditor 1
Mandate history
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises |
|
Owners and capital
Owners
2 ownersChain of control
- team.blue Equityco SARLLU
- COMBELL
- FLEXMAIL
Highest known parent: team.blue Equityco SARL (Luxembourg). The sources do not say who stands above it.
Owners 2
- COMBELLparentSourceaccounts COMBELL 2025100%
- team.blue Equityco SARLLUconsolidating parentconsolidates
Sources: the companies' annual accounts, 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
- 25-01-2024 Capital stated in the deed · €549,000 · 16,605 shares
Group and network
Connections & network
The network starts from this company’s shareholders. What else they own or run appears here as nodes.
History
Acts, filings and financial milestones
14-05
Gazette deed
Appointment: Deloitte Bedrijfsrevisoren (statutory auditor)2 facts ▸
- General meeting, 02-06-2023
- Auditor appointment, Deloitte Bedrijfsrevisoren (statutory auditor)
25-01
Gazette deed
Amendment of the articles · MiscellaneousCapital · Power of attorney · Registered office clause5 facts ▸
- Amendment of the articles (2 times)
- Capital, €549,000
- Power of attorney, Wim Van Damme
- Registered office clause, “Genk, Jaarbeurslaan 29 bus 31” (deed in Dutch)
- Power of attorney
23-03
Gazette deed
Resignations: INFINIUS (director) and UNREAL INVESTMENTS (director)Permanent representatives: Jonas Dhaenens and Frederik Poelman · Appointment: Jacques Vanloo (director) · Reappointment: Jimmy Cappaert (director)12 facts ▸
- General meeting, 15-02-2023
- Director resignation, INFINIUS (director)
- Permanent representative, Jonas Dhaenens (2 times)
- Director resignation, UNREAL INVESTMENTS (director)
- Permanent representative, Frederik Poelman (2 times)
- Director appointment, Jacques Vanloo (director)
- Director reappointment, Jimmy Cappaert (director)
- Board meeting, 15-02-2023
- Director resignation, INFINIUS (managing director)
- Director resignation, UNREAL INVESTMENTS (managing director)
- Director appointment, Jacques Vanloo (managing director)
- Director reappointment, Jimmy Cappaert (managing director)
Show earlier events
About the unread acts
Of the 20 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 17 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71016I0643/00G000 | Flanders | 3,087 m² | 1 · 1,269 m² | 39.7 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het ontwerpen,realiseren,produceren,testen,exploiteren,verhuren van hardware en software,informatica- en…” (deed in Dutch)
6 activities (deed in Dutch)
- Het ontwerpen,realiseren,produceren,testen,exploiteren,verhuren van hardware en software,informatica- en softwareontwikkeling,programmeuranalyst,netwerken.
- Het ontwikkelen van websites ter bevordering van informatiesystemen,handel en ontspanning.
- Het organiseren van wedstrijden,evenementen,beurzen.
- Delegatie van gespecialiseerd hardware- en softwarepersoneel,organisatie van seminaries,cursussen en conferenties.
- Tussenpersoon in de handel.
- Het waarnemen van mandaten van bestuurder,zaakvoerder in binnen- en buitenlandse vennootschappen,verenigingen en ondernemingen,het uitvoeren van allerlei opdrachten en functies.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FLEXMAIL
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, eenvoudige beslissing van het bestuursorgaan” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Zodanige verdeling van taken kan aan of door derden niet worden tegengeworpen. Externe vertegenwoordigingsbevoegdheid Onverminderd de…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Algemene vergadering die de bestuurder(s)benoemt” (deed in Dutch)“Sluiting van de jaarvergadering, minimum aantal leden dat door de wet is voorgeschreven” (deed in Dutch)“Enige bestuurder, enige bestuurder” (deed in Dutch)“Bestuurder, andersluidende beslissing algemene vergadering” (deed in Dutch)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 14:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Algemene vergadering, zoals inzake statutenwijziging” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Alle verrichtingen in wet tenzij algemene vergadering anders besluit bij gewone meerderheid, bij gebrek benoeming vereffening door…” (deed in Dutch)