FLIEGER
ActiveSummary
FLIEGER has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €289,228 and a net result of €19,065. Equity is growing by ~16.9% per year across the filed fiscal years. Its solvency ranks better than 42% of 11693 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability51▲+7
Solvency57▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity short (current ratio 0.79 against 0.75 in 2024; short-term debt: 43.1% and cash: 3.1% of total assets), and 68.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.6%
Return on assets
2.1%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 17-03-2026, 44 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
44 d early
2024
2 d early
2023
22 d early
2022
6 d early
2021
17 d early
2020
10 d early
2019
44 d 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 21 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 13 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close01-10-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€289,228▲ 7.1%
2024 · €270,164
Total assets
€915,822▼ 2.4%
2024 · €938,431
Net result
€19,065▲ 17.0%
2024 · €16,289
Working capital
-€82,786▲ 22.9%
2024 · -€107,424
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€38,403▲ 41.9%€108,304▲ 182%€32,274▼ 70.2%€49,525▲ 53.5%€46,359▼ 6.4%
Net result€24,022within the sector's middle half▲ 34.4%€89,725above the sector's middle half▲ 274%€7,529within the sector's middle half▼ 91.6%€16,289within the sector's middle half▲ 116%€19,065within the sector's middle half▲ 17.0%
Equity€156,621above the sector's middle half▲ 18.1%€246,346above the sector's middle half▲ 57.3%€253,875above the sector's middle half▲ 3.1%€270,164above the sector's middle half▲ 6.4%€289,228above the sector's middle half▲ 7.1%
Total assets€373,840within the sector's middle half▲ 6.1%€629,239above the sector's middle half▲ 68.3%€712,466above the sector's middle half▲ 13.2%€938,431above the sector's middle half▲ 31.7%€915,822above the sector's middle half▼ 2.4%
Debt€217,219▼ 1.2%€382,893▲ 76.3%€458,591▲ 19.8%€668,267▲ 45.7%€626,594▼ 6.2%
Working capital€152,511above the sector's middle half▲ 18.1%-€139,132below the sector's middle half€2,407within the sector's middle half-€107,424below the sector's middle half-€82,786below the sector's middle half▲ 22.9%
Solvency41.9%within the sector's middle half▲ 4.3pp39.1%within the sector's middle half▼ 2.7pp35.6%within the sector's middle half▼ 3.5pp28.8%within the sector's middle half▼ 6.8pp31.6%within the sector's middle half▲ 2.8pp
Current ratio1.74within the sector's middle half▲ 0.070.63below the sector's middle half▼ 1.111.01within the sector's middle half▲ 0.380.75below the sector's middle half▼ 0.260.79below the sector's middle half▲ 0.04
Return on assets (ROA)6.4%within the sector's middle half▲ 1.4pp14.3%above the sector's middle half▲ 7.8pp1.1%within the sector's middle half▼ 13.2pp1.7%within the sector's middle half▲ 0.7pp2.1%within the sector's middle half▲ 0.3pp
Staff (FTE)1=1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €915,822
Fixed assets
€603,824 ▼ 2.1%
Current assets
€311,999 ▼ 3.1%
Equity and liabilities €915,822
Equity
€289,228 ▲ 7.1%
Debt
€626,594 ▼ 6.2%
Debt's share of the balance-sheet total falls from 71.2% to 68.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€80,462▼
2024 · €85,033
Cash flow
€53,167▲
2024 · €51,797
Quick ratio
0.53▲
2024 · 0.29
Debt to equity
2.17▼
2024 · 2.47
ROE
6.6%▲
2024 · 6.0%
Interest coverage
3.57▲
2024 · 2.73
Debt ≤ 1 year
€394,785▼
2024 · €429,349
Debt > 1 year
€219,439▼
2024 · €226,002
Income taxes
€4,965▲
2024 · €2,317
Staff costs
€50,060▼
2024 · €54,002
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,040 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
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 0.4% 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 497,341 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% | 1.0% |
| 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% 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 17,040 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €41,847 | €44,854 | €55,548 | €54,002 | €50,060 | ▼ 7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,572 | €13,377 | €29,178 | €35,508 | €34,103 | ▼ 4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€672 | - | - | - | - |
| Other operating charges640/8 | €2,357 | €2,944 | €1,542 | €1,487 | €1,426 | ▼ 4.1% |
| Non-recurring operating charges66A | - | €156 | - | - | - | - |
| Gross operating margin9900 | €99,179 | €168,963 | €118,542 | €140,521 | €131,947 | ▼ 6.1% |
| Operating profit (loss)9901 | €38,403 | €108,304 | €32,274 | €49,525 | €46,359 | ▼ 6.4% |
| Financial income75/76B | €164 | €105 | €474 | €256 | €183 | ▼ 28.5% |
| Recurring financial income75 | €164 | €105 | €474 | €256 | €183 | ▼ 28.5% |
| Financial charges65/66B | €2,260 | €3,687 | €23,793 | €31,175 | €22,512 | ▼ 27.8% |
| Recurring financial charges65 | €2,260 | €3,687 | €23,793 | €31,175 | €22,512 | ▼ 27.8% |
| Profit (loss) for the period before taxes9903 | €36,308 | €104,722 | €8,955 | €18,606 | €24,030 | ▲ 29.2% |
| Income taxes67/77 | €12,285 | €14,998 | €1,426 | €2,317 | €4,965 | ▲ 114% |
| Profit (loss) for the period9904 | €24,022 | €89,725 | €7,529 | €16,289 | €19,065 | ▲ 17.0% |
| Transfer from tax-exempt reserves789 | - | €16,988 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €24,022 | €106,713 | €7,529 | €16,289 | €19,065 | ▲ 17.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €373,840 | €629,239 | €712,466 | €938,431 | €915,822 | ▼ 2.4% |
| Fixed assets21/28 | €15,476 | €391,971 | €501,150 | €616,506 | €603,824 | ▼ 2.1% |
| Tangible fixed assets22/27 | €15,476 | €391,971 | €501,150 | €616,506 | €603,824 | ▼ 2.1% |
| Land and buildings22 | - | €381,821 | €496,075 | €615,564 | €602,986 | ▼ 2.0% |
| Plant, machinery and equipment23 | €250 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €942 | €838 | ▼ 11.0% |
| Leasing and similar rights25 | €15,226 | €10,151 | €5,075 | €0 | - | - |
| Current assets29/58 | €358,365 | €237,267 | €211,316 | €321,925 | €311,999 | ▼ 3.1% |
| Stocks and contracts in progress3 | €117,660 | €93,117 | €84,293 | €195,945 | €103,620 | ▼ 47.1% |
| Stocks30/36 | €117,660 | €93,117 | €84,293 | €88,945 | €81,947 | ▼ 7.9% |
| Contracts in progress37 | - | - | - | €107,000 | €21,672 | ▼ 79.7% |
| Amounts receivable within one year40/41 | €108,627 | €104,695 | €92,911 | €79,485 | €179,769 | ▲ 126% |
| Trade receivables40 | €108,424 | €104,695 | €89,337 | €71,802 | €174,735 | ▲ 143% |
| Other amounts receivable41 | €203 | - | €3,574 | €7,683 | €5,035 | ▼ 34.5% |
| Cash at bank and in hand54/58 | €131,216 | €39,455 | €32,859 | €46,496 | €28,610 | ▼ 38.5% |
| Deferred charges and accrued income490/1 | €862 | - | €1,253 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €373,840 | €629,239 | €712,466 | €938,431 | €915,822 | ▼ 2.4% |
| Equity10/15 | €156,621 | €246,346 | €253,875 | €270,164 | €289,228 | ▲ 7.1% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €138,029 | €227,754 | €235,283 | €251,572 | €270,636 | ▲ 7.6% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | €16,988 | - | - | - | - | - |
| Distributable reserves133 | €119,182 | €225,895 | €235,283 | €251,572 | €270,636 | ▲ 7.6% |
| Amounts payable17/49 | €217,219 | €382,893 | €458,591 | €668,267 | €626,594 | ▼ 6.2% |
| Amounts payable after more than one year17 | €11,366 | €6,434 | €238,384 | €226,002 | €219,439 | ▼ 2.9% |
| Financial debts170/4 | €11,366 | €6,434 | €22,386 | €57,249 | €50,650 | ▼ 11.5% |
| Other amounts payable178/9 | - | - | €215,998 | €168,753 | €168,788 | = |
| Amounts payable within one year42/48 | €205,853 | €376,399 | €208,908 | €429,349 | €394,785 | ▼ 8.1% |
| Current portion of amounts payable after more than one year42 | €15,601 | €4,932 | €4,999 | €7,885 | €6,599 | ▼ 16.3% |
| Financial debts43 | - | €70,000 | €150,000 | €360,000 | €330,000 | ▼ 8.3% |
| Credit institutions430/8 | - | €70,000 | €150,000 | €360,000 | €330,000 | ▼ 8.3% |
| Trade debts44 | €12,844 | €40,474 | €39,183 | €40,382 | €28,102 | ▼ 30.4% |
| Suppliers440/4 | €12,844 | €40,474 | €39,183 | €40,382 | €28,102 | ▼ 30.4% |
| Advances received on contracts in progress46 | - | - | €37 | €61 | €849 | ▲ 1,292% |
| Taxes, remuneration and social security45 | €37,351 | €42,241 | €14,690 | €21,021 | €29,234 | ▲ 39.1% |
| Taxes450/3 | €35,981 | €40,393 | €11,781 | €16,521 | €24,825 | ▲ 50.3% |
| Remuneration and social security454/9 | €1,370 | €1,848 | €2,909 | €4,499 | €4,409 | ▼ 2.0% |
| Other amounts payable47/48 | €140,057 | €218,752 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €60 | €11,298 | €12,916 | €12,370 | ▼ 4.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,022 | €89,725 | €7,529 | €16,289 | €19,065 | ▲ 17.0% |
| + Depreciation and write-downs630 | €16,572 | €13,377 | €29,178 | €35,508 | €34,103 | ▼ 4.0% |
| Operating cash flow (approximation) | €40,594 | €103,101 | €36,707 | €51,797 | €53,167 | ▲ 2.6% |
| Investment in fixed assets (approximation) | - | -€389,872 | -€138,357 | -€150,864 | -€21,421 | ▲ 85.8% |
| Change in cash | - | -€91,761 | -€6,596 | €13,637 | -€17,886 | ▼ 231% |
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
Next filing, fiscal year 2026, expected by
2026
17-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Highest result since 2019net €89,725 ▲274%
Operating result €108,304, net result €89,725, both a record.
30-09
Financial
Equity above €200,000Eq €246,346 ▲57.3%
3 profitable years in a row build equity to €246,346.
13-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €150,000Eq €156,621 ▲18.1%
2 profitable years in a row build equity to €156,621.
20-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €17,875
Net result €17,875 after one loss-making year.
17-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company in the Gazette acts read. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Herentals · 1 establishment unit since 1995
Ground area
2,384 m²
Building footprint
662 m²
Volume, LiDAR
1,218 m³
2 parcels, Flanders · tallest building 7.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
FLIEGER BVBA
since 19952.069.691.869
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027D0107/00N003 | Flanders | 1,264 m² | 1 · 355 m² | 1.3 m |
| 13027D0107/00B002 | Flanders | 1,120 m² | 1 · 307 m² | 7.6 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ESPACE DEMEER
BE 0452.141.447
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CENTRONIK ELEKTRO
BE 0418.249.152
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MADOSA
BE 0849.140.968
Grimbergen · Eq €291,143
GERA HEATING
BE 0471.622.413
Maaseik · Eq €291,844
Deleco
BE 0423.090.244
Schilde · Eq €295,383
Of 977 companies in this sector we hold annual accounts for 704. 545 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded21-12-1994
Fiscal year end30-09
Activities, NACEBEL 2025
46431Wholesale of electrical household appliances and audio-video equipment
47540Retail sale of electrical household appliances
95210Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454050268
Also
9925:BE0454050268
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.