Flexwork
ActiveSummary
The computed 12-month bankruptcy probability of Flexwork is 2.8% (moderate). The 2024 annual accounts show equity of €19k and a net result of €-7k. Equity is growing by ~30.4% per year across the filed fiscal years. Its solvency ranks better than 92% of 36375 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
56
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-73
Solvency100=
Growth63=
Track record100
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 7.85 against 8.3 in 2023; short-term debt: 12.7% and cash: 25.7% of total assets), and 12.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
87.3%
Return on assets
-34%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-07-2025, 4 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
4 d early
2023
51 d late
2021
92 d late
2020
90 d late
2019
61 d late
2018
5 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€48k▲ 14.8%
2020 · €42k
2020: €42k
2020 → 2021
EBIT margin
19.6%▼ 4.0pp
2020 · 23.6%
2020: 23.6%
2020 → 2021
Net result
€-7k
2023 · €4k
2018: €9k
2019: €-5k
2020: €9k
2021: €7k
2023: €4k
2018 → 2024
Working capital
€19k▼ 25.3%
2023 · €26k
2018: €6k
2019: €693
2020: €10k
2021: €17k
2023: €26k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120232024Trend
Turnover€42k€48k▲ 14.8%
Equity€2k-€11k▲ 358%€18k▲ 60.8%€27k▲ 49.1%€19k▼ 28.1%
Operating result€-3k-€10k€9k▼ 4.9%€6k▼ 33.3%€-5k
Net result€-5k-€9k€7k▼ 22.3%€4k▼ 36.8%€-7k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €5k after €6k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €22k
Equity
€19k ▼ 28.1%
Debt
€3k ▼ 20.3%
Debt's share of the balance-sheet total rises from 11.6% to 12.7%. Equity and debt are lower.
Key figures and ratios
Current ratio
7.85▼
2023 · 8.30
Debt to equity
0.15▲
2023 · 0.13
ROE
-39.0%▼
2023 · 16.0%
ROA
-34.0%▼
2023 · 14.1%
Debt ≤ 1 year
€3k▼
2023 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€30k€22k▼
Fixed assets21/28€1k-
Financial fixed assets28€1k-
Current assets29/58€29k€22k▼
Amounts receivable within one year40/41€21k€16k▼
Trade receivables40€19k€15k▼
Other amounts receivable41€3k€1k▼
Cash at bank and in hand54/58€8k€6k▼
Equity and liabilities
Total equity and liabilities10/49€30k€22k▼
Equity10/15€27k€19k▼
Contributions10/11€1€1=
Outside capital11€1€1=
Other1109/19€1€1=
Reserves13€7k€7k=
Non-distributable reserves130/1€7k€7k=
Reserves not available under the articles1311€7k€7k=
Profit (loss) carried forward14€20k€12k▼
Amounts payable17/49€4k€3k▼
Amounts payable within one year42/48€4k€3k▼
Trade debts44€24€815▲
Suppliers440/4€24€815▲
Taxes, remuneration and social security45€3k€2k▼
Taxes450/3€3k€2k▼
Income statement
Code20232024
Non-recurring operating income76A-€546
Other operating charges640/8€3k€455▼
Non-recurring operating charges66A-€1k
Gross operating margin9900€9k€-4k▼
Operating profit (loss)9901€6k€-5k▼
Financial income75/76B€96€27▼
Recurring financial income75€96€27▼
Financial charges65/66B€125€2k▲
Recurring financial charges65€125€2k▲
Profit (loss) for the period before taxes9903€6k€-7k▼
Income taxes67/77€2k-
Profit (loss) for the period9904€4k€-7k▼
Profit (loss) for the period to be appropriated9905€4k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€20k€12k▼
Profit (loss) brought forward from the previous period14P€15k€20k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series.
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 51 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 8.30
Current ratio from 3.38 to 8.30; short-term debt falls from €7k to €4k.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.49
Current ratio from 1.10 to 2.49; short-term debt falls from €7k to €7k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2017
Ground area
307 m²
Building footprint
68 m²
Volume, LiDAR
577 m³
Parcel 21616G0389/00A006, Brussels · tallest building 11.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Flexwork
since 20172.389.262.824
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616G0389/00A006 | Brussels | 306 m² | 1 · 68 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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SWINCO
BE 0867.523.755
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CABSTAR COMPANY
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,418. 5,150 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded15-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.