FLEXSYS BELGIUM
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 12-07-2024, 19 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
19 d early
2022
28 d late
2021
31 d late
2020
61 d early
2019
45 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 5 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2023, full schema
Turnover
€571,707▼ 9.8%
2022 · €634,093
EBIT margin
-28.4%▼ 29.9pp
2022 · 1.5%
Net result
-€171,201
2022 · €3,583
Working capital
€129,712▼ 26.9%
2022 · €177,563
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Turnover€695,454€634,093▼ 8.8%€571,707▼ 9.8%
Operating result-€38,804€102,537-€17,820€9,754-€162,126
Net result-€58,713€66,815-€30,147€3,583-€171,201
EBIT margin-2.6%1.5%▲ 4.1pp-28.4%▼ 29.9pp
Equity-€325,517▼ 22.0%-€258,702▲ 20.5%-€288,849▼ 11.7%-€285,266▲ 1.2%-€456,467▼ 60.0%
Total assets€321,667▲ 8.6%€274,051▼ 14.8%€307,681▲ 12.3%€368,898▲ 19.9%€288,435▼ 21.8%
Debt€647,184▲ 15.0%€532,754▼ 17.7%€596,530▲ 12.0%€654,164▲ 9.7%€744,902▲ 13.9%
Working capital-€386,788▼ 18.2%-€290,390▲ 24.9%-€40,513▲ 86.0%€177,563€129,712▼ 26.9%
Staff (FTE)4.8=4.8=4.1▼ 14.6%3.8▼ 7.3%3.8=
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €162,126 after €9,754 in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €288,435
Fixed assets
€49,332 ▼ 32.2%
Current assets
€239,103 ▼ 19.3%
Key figures and ratios
EBITDA
-€138,677▼
2022 · €46,967
Cash flow
-€147,752▼
2022 · €40,796
Solvency
-158.3%▼
2022 · -77.3%
Current ratio
2.19▼
2022 · 2.50
Quick ratio
2.11▼
2022 · 2.38
Debt to equity
-1.63▲
2022 · -2.29
ROA
-59.4%▼
2022 · 1.0%
Interest coverage
-34.39▼
2022 · 5.48
Debt ≤ 1 year
€109,391▼
2022 · €118,554
Debt > 1 year
€635,511▲
2022 · €526,637
Income taxes
€5,529▲
2022 · -€1,743
Staff costs
€359,050▲
2022 · €330,715
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €700,801 | €707,668 | - | - |
| Turnover70 | - | - | €695,454 | €634,093 | €571,707 | ▼ 9.8% |
| Own construction capitalised72 | - | - | - | €70,139 | - | - |
| Other operating income74 | - | - | €5,347 | €3,436 | - | - |
| Operating charges60/66A | - | - | €718,621 | €697,914 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €350,912 | - |
| Goods for resale, raw materials and consumables60 | - | - | €57,772 | €22,196 | - | - |
| Purchases600/8 | - | - | €54,008 | €25,146 | - | - |
| Change in stocks: decrease (increase)609 | - | - | €3,764 | -€2,950 | - | - |
| Services and other goods61 | - | - | €283,745 | €306,124 | - | - |
| Remuneration, social security and pensions62 | - | - | €274,224 | €330,715 | €359,050 | ▲ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €161,494 | €142,353 | €89,666 | €37,213 | €23,449 | ▼ 37.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€1,430 | - | - | - |
| Other operating charges640/8 | - | - | €7,617 | €1,666 | €422 | ▼ 74.7% |
| Non-recurring operating charges66A | - | - | €7,027 | - | - | - |
| Gross operating margin9900 | €399,553 | €385,977 | - | - | €220,795 | - |
| Operating profit (loss)9901 | -€38,804 | €102,537 | -€17,820 | €9,754 | -€162,126 | ▼ 1,762% |
| Financial income75/76B | - | - | €197 | €973 | €487 | ▼ 49.9% |
| Recurring financial income75 | €10 | €73 | €197 | €973 | €487 | ▼ 49.9% |
| Income from current assets751 | - | - | - | €619 | - | - |
| Other financial income752/9 | - | - | €197 | €354 | - | - |
| Financial charges65/66B | - | - | €5,524 | €8,887 | €4,033 | ▼ 54.6% |
| Recurring financial charges65 | €19,275 | €17,756 | €5,524 | €8,887 | €4,033 | ▼ 54.6% |
| Debt charges650 | - | - | €2,903 | €8,566 | - | - |
| Other financial charges652/9 | - | - | €2,621 | €321 | - | - |
| Profit (loss) for the period before taxes9903 | -€58,069 | €84,853 | -€23,147 | €1,840 | -€165,672 | ▼ 9,104% |
| Income taxes67/77 | €644 | €18,039 | €7,000 | -€1,743 | €5,529 | ▲ 417% |
| Taxes670/3 | - | - | €7,000 | €5,000 | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €6,743 | - | - |
| Profit (loss) for the period9904 | -€58,713 | €66,815 | -€30,147 | €3,583 | -€171,201 | ▼ 4,878% |
| Profit (loss) for the period to be appropriated9905 | -€58,713 | €66,815 | -€30,147 | €3,583 | -€171,201 | ▼ 4,878% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €321,667 | €274,051 | €307,681 | €368,898 | €288,435 | ▼ 21.8% |
| Fixed assets21/28 | €163,145 | €133,500 | €39,855 | €72,781 | €49,332 | ▼ 32.2% |
| Intangible fixed assets21 | €156,848 | €126,462 | €36,966 | €70,075 | €46,695 | ▼ 33.4% |
| Tangible fixed assets22/27 | €2,661 | €3,401 | €263 | €80 | €11 | ▼ 86.3% |
| Furniture and vehicles24 | - | - | €263 | €80 | €11 | ▼ 86.3% |
| Financial fixed assets28 | €3,636 | €3,636 | €2,626 | €2,626 | €2,626 | = |
| Other financial fixed assets284/8 | - | - | €2,626 | €2,626 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €2,626 | €2,626 | - | - |
| Current assets29/58 | €158,522 | €140,552 | €267,826 | €296,117 | €239,103 | ▼ 19.3% |
| Amounts receivable after more than one year29 | - | - | - | €21,247 | €17,528 | ▼ 17.5% |
| Trade receivables290 | - | - | - | €21,247 | €17,528 | ▼ 17.5% |
| Stocks and contracts in progress3 | €11,962 | €14,892 | €11,128 | €14,078 | €8,490 | ▼ 39.7% |
| Stocks30/36 | - | - | €11,128 | €14,078 | €8,490 | ▼ 39.7% |
| Goods purchased for resale34 | - | - | €11,128 | €14,078 | - | - |
| Amounts receivable within one year40/41 | €140,675 | €121,520 | €155,531 | €192,996 | €170,316 | ▼ 11.8% |
| Trade receivables40 | - | - | €154,800 | €186,253 | €166,845 | ▼ 10.4% |
| Other amounts receivable41 | - | - | €731 | €6,743 | €3,471 | ▼ 48.5% |
| Cash at bank and in hand54/58 | €25 | €25 | €98,658 | €67,314 | €41,731 | ▼ 38.0% |
| Deferred charges and accrued income490/1 | - | - | €2,509 | €482 | €1,038 | ▲ 115% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €321,667 | €274,051 | €307,681 | €368,898 | €288,435 | ▼ 21.8% |
| Equity10/15 | -€325,517 | -€258,702 | -€288,849 | -€285,266 | -€456,467 | ▼ 60.0% |
| Contributions10/11 | €92,960 | €92,960 | €92,960 | €92,960 | €92,960 | = |
| Reserves13 | €177,297 | €177,297 | €177,297 | €177,297 | €177,297 | = |
| Non-distributable reserves130/1 | - | - | €9,296 | €9,296 | €9,296 | = |
| Reserves not available under the articles1311 | - | - | €9,296 | €9,296 | €9,296 | = |
| Distributable reserves133 | - | - | €168,001 | €168,001 | €168,001 | = |
| Profit (loss) carried forward14 | -€595,774 | -€528,959 | -€559,106 | -€555,523 | -€726,724 | ▼ 30.8% |
| Amounts payable17/49 | €647,184 | €532,754 | €596,530 | €654,164 | €744,902 | ▲ 13.9% |
| Amounts payable after more than one year17 | €100,000 | €100,000 | €288,058 | €526,637 | €635,511 | ▲ 20.7% |
| Financial debts170/4 | - | - | €30,900 | €276,753 | €385,627 | ▲ 39.3% |
| Other loans174 | - | - | €30,900 | €276,753 | - | - |
| Other amounts payable178/9 | - | - | €257,158 | €249,884 | €249,884 | = |
| Amounts payable within one year42/48 | €545,310 | €430,941 | €308,339 | €118,554 | €109,391 | ▼ 7.7% |
| Current portion of amounts payable after more than one year42 | - | - | €51,120 | €30,432 | €16,138 | ▼ 47.0% |
| Trade debts44 | €44,504 | €29,576 | €143,762 | €10,970 | €17,889 | ▲ 63.1% |
| Suppliers440/4 | - | - | €143,762 | €10,970 | €17,889 | ▲ 63.1% |
| Taxes, remuneration and social security45 | - | - | €113,457 | €77,152 | €75,364 | ▼ 2.3% |
| Taxes450/3 | - | - | €37,741 | €28,455 | €23,489 | ▼ 17.5% |
| Remuneration and social security454/9 | - | - | €75,716 | €48,697 | €51,875 | ▲ 6.5% |
| Accrued charges and deferred income492/3 | - | - | €133 | €8,973 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€58,713 | €66,815 | -€30,147 | €3,583 | -€171,201 | ▼ 4,878% |
| + Depreciation and write-downs630 | €161,494 | €142,353 | €89,666 | €37,213 | €23,449 | ▼ 37.0% |
| Operating cash flow (approximation) | €102,781 | €209,167 | €59,519 | €40,796 | -€147,752 | ▼ 462% |
| Investment in fixed assets (approximation) | - | -€112,707 | €3,979 | -€70,139 | €0 | ▲ 100% |
| Change in cash | - | €0 | €98,633 | -€31,344 | -€25,583 | ▲ 18.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€171,201
Net result drops to -€171,201, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema · 28 days late
2022
31-12
Financial
Back to profitnet €3,583
Net result €3,583 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.50
Current ratio from 0.87 to 2.50; short-term debt falls from €308,339 to €118,554.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema · 31 days late
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €66,815
Net result €66,815 after one loss-making year.
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 45 days late
2019
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 17 days late
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
24-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
Owners 0
No owner stated in the accounts, acts or LEI register we read.
Stated earlier (1)
An older source named these owners; newer accounts no longer list them.
-
100%
Holdings 0
The accounts to 31-12-2023 list no holdings, and no other source names one.
According to the 2023 annual accounts of FLEXSYS BELGIUM and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.