FLEXTRA INTERIM
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 22 filings
Turnover
€22.8m▲ 22.1%
2024 · €18.6m
EBIT margin
3.0%▲ 0.9pp
2024 · 2.1%
Net result
€408,357▲ 109%
2024 · €195,258
Working capital
€1.2m▲ 49.4%
2024 · €836,130
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€22.8m
▲ 22.1%
2025
20182025
Operating result
€680,858
▲ 77.5%
2025
20182025
Net result
€408,357
▲ 109%
2025
middle half of the sector
20182025
EBIT margin
3.0%
▲ 0.9pp
2025
20182025
Equity
€1.3m
▲ 43.8%
2025
middle half of the sector
20182025
Total assets
€5.2m
▲ 19.6%
2025
middle half of the sector
20182025
Debt
€3.9m
▲ 13.0%
2025
20182025
Working capital
€1.2m
▲ 49.4%
2025
middle half of the sector
20182025
Solvency
25.8%
▲ 4.3pp
2025
middle half of the sector
20182025
Current ratio
1.32
▲ 0.08
2025
middle half of the sector
20182025
Return on assets (ROA)
7.9%
▲ 3.4pp
2025
middle half of the sector
20182025
Staff (FTE)
316.5
▲ 23.8%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€17.1m-€14.9m▼ 12.5%€11.7m▼ 21.4%€14.7m▲ 25.5%€16.9m▲ 15.1%€16.5m▼ 2.6%€18.6m▲ 13.0%€22.8m▲ 22.1%
Operating result€0.7m-€0.3m▼ 50.6%-€0.4m€0.3m€0.6m▲ 107%€0.2m▼ 66.8%€0.4m▲ 110%€0.7m▲ 77.5%
Net result€0.4m-€0.2m▼ 57.5%-€0.4mbelow the sector's middle half€0.2mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 66.3%€0.08mwithin the sector's middle half▼ 76.4%€0.2mwithin the sector's middle half▲ 138%€0.4mwithin the sector's middle half▲ 109%
EBIT margin4.1%-2.3%▼ 1.8pp-3.1%▼ 5.4pp1.8%▲ 4.9pp3.3%▲ 1.4pp1.1%▼ 2.1pp2.1%▲ 0.9pp3.0%▲ 0.9pp
Equity€0.9m-€1.0m▲ 20.5%€0.7mwithin the sector's middle half▼ 36.9%€0.6mwithin the sector's middle half▼ 6.4%€1.0mwithin the sector's middle half▲ 56.9%€0.7mwithin the sector's middle half▼ 22.8%€0.9mwithin the sector's middle half▲ 26.5%€1.3mwithin the sector's middle half▲ 43.8%
Total assets€3.6m-€3.0m▼ 17.1%€2.3mwithin the sector's middle half▼ 24.1%€3.0mwithin the sector's middle half▲ 32.6%€3.7mwithin the sector's middle half▲ 23.9%€3.4mwithin the sector's middle half▼ 8.3%€4.3mwithin the sector's middle half▲ 27.1%€5.2mwithin the sector's middle half▲ 19.6%
Debt€2.8m-€2.0m▼ 28.8%€1.6m▼ 17.4%€2.4m▲ 48.2%€2.8m▲ 15.5%€2.7m▼ 3.3%€3.4m▲ 27.3%€3.9m▲ 13.0%
Working capital€0.9m-€1.0m▲ 13.3%€0.6mwithin the sector's middle half▼ 38.7%€0.6mwithin the sector's middle half▼ 9.5%€0.8mwithin the sector's middle half▲ 49.5%€0.6mwithin the sector's middle half▼ 25.4%€0.8mwithin the sector's middle half▲ 35.5%€1.2mwithin the sector's middle half▲ 49.4%
Solvency23.7%-34.4%▲ 10.8pp28.6%within the sector's middle half▼ 5.8pp20.2%within the sector's middle half▼ 8.4pp25.6%within the sector's middle half▲ 5.4pp21.6%within the sector's middle half▼ 4.0pp21.5%within the sector's middle half▼ 0.1pp25.8%within the sector's middle half▲ 4.3pp
Current ratio1.33-1.51▲ 0.181.38within the sector's middle half▼ 0.131.23within the sector's middle half▼ 0.151.30within the sector's middle half▲ 0.071.23within the sector's middle half▼ 0.071.25within the sector's middle half▲ 0.011.32within the sector's middle half▲ 0.08
Return on assets (ROA)11.4%-5.9%▼ 5.6pp-16.7%below the sector's middle half▼ 22.6pp6.9%within the sector's middle half▲ 23.6pp9.3%within the sector's middle half▲ 2.4pp2.4%within the sector's middle half▼ 6.9pp4.5%within the sector's middle half▲ 2.1pp7.9%within the sector's middle half▲ 3.4pp
Staff (FTE)270.3-214.3▼ 20.7%218.7within the sector's middle half▲ 2.1%221.1within the sector's middle half▲ 1.1%280.5above the sector's middle half▲ 26.9%259above the sector's middle half▼ 7.7%255.7within the sector's middle half▼ 1.3%316.5above the sector's middle half▲ 23.8%
above
within
below
The sector band is the middle half of the companies in Employment activities (NACE 78). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 78% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.2m
Fixed assets
€95,278 ▼ 2.6%
Current assets
€5.1m ▲ 20.1%
Equity and liabilities €5.2m
Equity
€1.3m ▲ 43.8%
Debt
€3.9m ▲ 13.0%
Debt's share of the balance-sheet total falls from 78.5% to 74.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€712,740▲
2024 · €415,638
Cash flow
€440,240▲
2024 · €227,349
Debt to equity
2.87▼
2024 · 3.66
ROE
30.4%▲
2024 · 20.9%
Interest coverage
29.32▲
2024 · 22.63
Debt ≤ 1 year
€3.9m▲
2024 · €3.4m
Income taxes
€251,705▲
2024 · €177,154
Customer credit
67 days▲
2024 · 66 days
Staff costs
€20.9m▲
2024 · €17.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 279 | 129 | 90 | 327 | 488 |
| full-time | 210 | 77 | 46 | 225 | 243 |
| part-time | 69 | 52 | 44 | 102 | 245 |
| in full-time equivalents | 254.6 | 112.4 | 74.3 | 304.1 | 417.6 |
| Average over the year, in full-time equivalents | 221.1 | 280.5 | 259 | 255.7 | 316.5 |
| On a permanent contract | 279 | 29 | 34 | 26 | 36 |
| Joined | 34,154 | 40,493 | 31,315 | 33,053 | 40,818 |
| Left | 34,122 | 40,643 | 31,354 | 32,816 | 40,657 |
| Agency workers, average number | - | 0.5 | 0.5 | 0.1 | 0.2 |
| Training hours | 2,450 | 2,790 | 2,740 | 3,309 | 3,909 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €305,988 | - |
| Carrying value of the other pledged assets | €2.3m | €2.2m | €2.4m | €3.2m | €3.7m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €29,203 | €97,777 | €17,666 | €12,000 | €34,805 |
| Depreciation and write-downs of the year | €12,266 | €16,807 | €34,189 | €32,091 | €31,883 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €4,546 | €4,600 | €4,600 | €4,600 | €5,300 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €15.1m | €17.4m | €16.8m | €19.0m | €23.1m | ▲ 22.0% |
| Turnover70 | €17.1m | €14.9m | €11.7m | €14.7m | €16.9m | €16.5m | €18.6m | €22.8m | ▲ 22.1% |
| Other operating income74 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 15.2% |
| Non-recurring operating income76A | - | - | - | - | €0.1m | - | - | - | - |
| Operating charges60/66A | - | - | - | €14.8m | €16.9m | €16.6m | €18.6m | €22.5m | ▲ 20.8% |
| Services and other goods61 | - | - | - | €1.3m | €1.4m | €1.4m | €1.4m | €1.5m | ▲ 6.1% |
| Remuneration, social security and pensions62 | - | - | - | €13.5m | €15.5m | €15.2m | €17.1m | €20.9m | ▲ 22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.006m | €0.01m | €0.04m | ▲ 267% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.02m | €0.03m | €0.03m | €0.02m | ▼ 14.7% |
| Operating profit (loss)9901 | €0.7m | €0.3m | -€0.4m | €0.3m | €0.6m | €0.2m | €0.4m | €0.7m | ▲ 77.5% |
| Financial income75/76B | - | - | - | €0.001m | €0.002m | €0.008m | €0.01m | €0.008m | ▼ 18.6% |
| Recurring financial income75 | €31 | €86 | €409 | €0.001m | €0.002m | €0.008m | €0.01m | €0.008m | ▼ 18.6% |
| Income from financial fixed assets750 | - | - | - | €0.001m | - | - | - | €0 | - |
| Income from current assets751 | - | - | - | €64 | €0.002m | €0.004m | €0.006m | €0.008m | ▲ 33.6% |
| Other financial income752/9 | - | - | - | €234 | €180 | €0.004m | €0.005m | €0.001m | ▼ 80.9% |
| Financial charges65/66B | - | - | - | €0.008m | €0.006m | €0.008m | €0.02m | €0.03m | ▲ 36.1% |
| Recurring financial charges65 | €0.04m | €0.03m | €0.01m | €0.008m | €0.006m | €0.008m | €0.02m | €0.03m | ▲ 36.1% |
| Debt charges650 | €0.03m | €0.03m | €0.007m | €0.005m | €0.004m | €0.006m | €0.02m | €0.02m | ▲ 32.3% |
| Other financial charges652/9 | - | - | - | €0.003m | €0.002m | €0.002m | €0.003m | €0.005m | ▲ 58.2% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.3m | -€0.4m | €0.3m | €0.5m | €0.2m | €0.4m | €0.7m | ▲ 77.2% |
| Income taxes67/77 | €0.2m | €0.1m | €0.002m | €0.05m | €0.2m | €0.1m | €0.2m | €0.3m | ▲ 42.1% |
| Taxes670/3 | - | - | - | €0.05m | €0.2m | €0.1m | €0.2m | €0.3m | ▲ 42.1% |
| Profit (loss) for the period9904 | €0.4m | €0.2m | -€0.4m | €0.2m | €0.3m | €0.08m | €0.2m | €0.4m | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.2m | -€0.4m | €0.2m | €0.3m | €0.08m | €0.2m | €0.4m | ▲ 109% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.6m | €3.0m | €2.3m | €3.0m | €3.7m | €3.4m | €4.3m | €5.2m | ▲ 19.6% |
| Fixed assets21/28 | €0.04m | €0.03m | €0.04m | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 2.6% |
| Tangible fixed assets22/27 | €0.02m | €0.02m | €0.03m | €0.04m | €0.1m | €0.1m | €0.09m | €0.09m | ▲ 3.4% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.01m | €0.009m | €0.004m | €0.008m | ▲ 92.3% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.1m | €0.08m | €0.06m | €0.06m | ▼ 0.3% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 3.7% |
| Financial fixed assets28 | €0.01m | €0.01m | €0.01m | €0.01m | €0.007m | €0.02m | €0.01m | €0.006m | ▼ 47.5% |
| Other financial fixed assets284/8 | - | - | - | €0.01m | €0.007m | €0.02m | €0.01m | €0.006m | ▼ 47.5% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.01m | €0.007m | €0.02m | €0.01m | €0.006m | ▼ 47.5% |
| Current assets29/58 | €3.6m | €3.0m | €2.2m | €3.0m | €3.6m | €3.3m | €4.2m | €5.1m | ▲ 20.1% |
| Amounts receivable within one year40/41 | €3.2m | €2.3m | €1.9m | €2.7m | €2.8m | €3.2m | €3.9m | €4.9m | ▲ 24.3% |
| Trade receivables40 | - | - | - | €2.6m | €2.5m | €2.8m | €3.3m | €4.2m | ▲ 25.3% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.3m | €0.4m | €0.6m | €0.7m | ▲ 18.3% |
| Cash at bank and in hand54/58 | €0.3m | €0.6m | €0.3m | €0.2m | €0.7m | €0.06m | €0.3m | €0.2m | ▼ 36.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.09m | €0.02m | €0.03m | €0.03m | ▲ 13.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.6m | €3.0m | €2.3m | €3.0m | €3.7m | €3.4m | €4.3m | €5.2m | ▲ 19.6% |
| Equity10/15 | €0.9m | €1.0m | €0.7m | €0.6m | €1.0m | €0.7m | €0.9m | €1.3m | ▲ 43.8% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Profit (loss) carried forward14 | €0.8m | €0.9m | €0.6m | €0.5m | €0.9m | €0.7m | €0.9m | €1.3m | ▲ 48.0% |
| Amounts payable17/49 | €2.8m | €2.0m | €1.6m | €2.4m | €2.8m | €2.7m | €3.4m | €3.9m | ▲ 13.0% |
| Amounts payable after more than one year17 | €0.06m | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €2.7m | €2.0m | €1.6m | €2.4m | €2.8m | €2.7m | €3.4m | €3.9m | ▲ 12.9% |
| Financial debts43 | - | - | - | - | - | - | €0.3m | - | - |
| Credit institutions430/8 | - | - | - | - | - | - | €0.3m | - | - |
| Trade debts44 | €0.3m | €0.2m | €0.02m | €0.04m | €0.04m | €0.05m | €0.08m | €0.07m | ▼ 11.8% |
| Suppliers440/4 | - | - | - | €0.04m | €0.04m | €0.05m | €0.08m | €0.07m | ▼ 11.8% |
| Taxes, remuneration and social security45 | - | - | - | €2.4m | €2.7m | €2.6m | €3.0m | €3.8m | ▲ 27.2% |
| Taxes450/3 | - | - | - | €0.5m | €0.8m | €0.5m | €0.7m | €1.0m | ▲ 45.6% |
| Remuneration and social security454/9 | - | - | - | €1.8m | €1.9m | €2.0m | €2.3m | €2.7m | ▲ 21.5% |
| Other amounts payable47/48 | - | - | - | - | - | €0.08m | €0.06m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.002m | €0.005m | €0.001m | €0.003m | ▲ 211% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €412,981 | €175,485 | -€379,819 | €208,473 | €346,768 | €81,922 | €195,258 | €408,357 | ▲ 109% |
| + Depreciation and write-downs630 | €9,807 | €10,195 | €10,450 | €12,266 | €16,807 | €34,189 | €32,091 | €31,883 | ▼ 0.7% |
| Operating cash flow (approximation) | €422,787 | €185,680 | -€369,370 | €220,738 | €363,575 | €116,111 | €227,349 | €440,240 | ▲ 93.6% |
| Investment in fixed assets (approximation) | - | -€6,868 | -€17,034 | -€29,203 | -€90,464 | -€29,012 | -€4,800 | -€29,337 | ▼ 511% |
| Change in cash | - | €285,200 | -€273,774 | -€87,554 | €463,845 | -€646,290 | €225,406 | -€105,761 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 101 companies had the same profile as FLEXTRA INTERIM has now. Two years later, 97.0% were still going and 2.0% had gone bankrupt.
- Large
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.0%
was still going
1.0%
stopped otherwise
2.0%
went bankrupt
That fits the bankruptcy probability of FLEXTRA INTERIM itself: 0.6% within 12 months.
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 101 companies, not a prediction for FLEXTRA INTERIM. 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.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00302989 | |
| 31-12-2024 | full format | 14-11-2025 | 2025-00566279 | |
| 31-12-2023 | full format | 25-07-2024 | 2024-00285837 | |
| 31-12-2022 | full format | 27-07-2023 | 2023-00277522 | |
| 31-12-2021 | full format | 28-07-2022 | 2022-20244108 | |
| 31-12-2020 | full format | 20-07-2021 | 2021-38100431 | |
| 31-12-2019 | full format | 02-07-2020 | 2020-25500211 | |
| 31-12-2018 | full format | 02-07-2019 | 2019-28300185 | |
| 31-12-2017 | full format | 10-07-2018 | 2018-31700332 | |
| 31-12-2016 | full format | 12-07-2017 | 2017-31200084 |