FLIPTOWORKS
ActiveSummary
FLIPTOWORKS has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29,296 and a net result of €25,296. Its solvency ranks better than 38% of 22,773 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-05-2024 Normal situation
- Activity
- Retail sale of newspapers and periodicals NACE 47621
- Establishment unit
- 2.359.755.325 3630 Maasmechelen, since 23-05-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 09-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.4%
- Gross margin
- €64,280
- Turnover
- ≈ €390,000
- estimated
- Profit
- €25,296
- Equity
- €29,296
- Total assets
- €153,691
- Staff
- ≈ 0.6 FTE
- estimated
- 2025 accounts filed 25 days after the deadline
Score breakdownraises riskFounded in 2024Size: total assets €153,691Sector: Retail trade (NACE 47)lowers riskLiquidity: current ratio 1.23, cash €32,679Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 47, micro). It does better than 35% of them on solvency, 39% on liquidity and 84% on profitability.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00423895.
Annual accounts 2025 filed on 25-08-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2025 |
|---|---|
| Intangible fixed assets | €40,000 |
| Depreciation and write-downs of the year | €11,334 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as FLIPTOWORKS: retail sale of newspapers and periodicals (NACE 47621). They are comparable in size and age: total assets between €133,000 and €187,000, founded between 2023 and 2024.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | Financial year |
|---|---|---|---|---|---|---|---|
| FLIPTOWORKS Maasmechelen | 2024 | €0.2m | €0.03m | €0.06m | - | €0.03m | 2025 |
| MARBEN23 Maasmechelen | 2023 | €0.2m | €0.07m | €0.07m | - | €0.04m | 2025 |
| GURSUKH Hasselt | 2024 | €0.1m | -€0.01m | €0.05m | - | -€0.02m | 2025 |
| Kabbamo Diepenbeek | 2023 | €0.2m | €0.06m | €0.06m | - | €0.02m | 2025 |
| LA PAPERASSE Châtelet | 2023 | €0.1m | €0.09m | €0.07m | €1.0m | €0.03m | 2025 |
| Mister Robot Messancy | 2023 | €0.1m | €0.05m | €0.07m | - | €0.02m | 2025 |
| Sigi’s Middelkerke | 2024 | €0.1m | €0.06m | €0.09m | - | €0.05m | 2025 |
They were chosen from the 1,232 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 7,976 companies had the same profile as FLIPTOWORKS has now. Two years later, 3.6% had gone bankrupt and 94.3% were still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FLIPTOWORKS itself: 1.4% within 12 months.
Test of the method
The method was tested on the 497,445 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 7,976 companies, not a prediction for FLIPTOWORKS. 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.
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €16,652 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,334 |
| Other operating charges640/8 | €847 |
| Gross operating margin9900 | €64,280 |
| Operating profit (loss)9901 | €35,447 |
| Financial charges65/66B | €1,376 |
| Recurring financial charges65 | €1,376 |
| Profit (loss) for the period before taxes9903 | €34,071 |
| Income taxes67/77 | €8,775 |
| Profit (loss) for the period9904 | €25,296 |
| Profit (loss) for the period to be appropriated9905 | €25,296 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €153,691 | |
| Fixed assets21/28 | €28,666 | |
| Intangible fixed assets21 | €28,666 | |
| Current assets29/58 | €125,025 | |
| Stocks and contracts in progress3 | €46,055 | |
| Stocks30/36 | €46,055 | |
| Amounts receivable within one year40/41 | €45,834 | |
| Trade receivables40 | €1,600 | |
| Other amounts receivable41 | €44,234 | |
| Cash at bank and in hand54/58 | €32,679 | |
| Deferred charges and accrued income490/1 | €457 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €153,691 | |
| Equity10/15 | €29,296 | |
| Contributions10/11 | €4,000 | |
| Profit (loss) carried forward14 | €25,296 | |
| Amounts payable17/49 | €124,395 | |
| Amounts payable after more than one year17 | €22,707 | |
| Financial debts170/4 | €22,707 | |
| Amounts payable within one year42/48 | €101,688 | |
| Current portion of amounts payable after more than one year42 | €9,908 | |
| Trade debts44 | €47,673 | |
| Suppliers440/4 | €47,673 | |
| Taxes, remuneration and social security45 | €12,886 | |
| Taxes450/3 | €8,776 | |
| Remuneration and social security454/9 | €4,110 | |
| Other amounts payable47/48 | €31,221 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €25,296 |
| + Depreciation and write-downs630 | €11,334 |
| Operating cash flow (approximation) | €36,630 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00423895 | NBB |
Board & ownership
Directors
Owners and capital
Shareholders
- SPIGA Claudio 400 shares (100%) · €4,000
Capital transactions
- 27-05-2024 Incorporation · €4,000 · 400 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Iedere bestuurder alleen alle handelingen nodig of nuttig voor voorwerp behalve wet of statuten aan algemene vergadering voorbehouden…”
Articles of association, deed of 27-05-2024 (in Dutch)
Network & group
FLIPTOWORKS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of FLIPTOWORKS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
27-05
Gazette deed
IncorporationStarting capital €4,000 · Appointment: SPIGA Claudio (director) · Founder · Registered office clause5 points ▸
- Incorporation, 06-05-2024
- Founder, SPIGA Claudio
- Registered office clause, “3630 Maasmechelen,Prinses Paolalaan 61” (deed in Dutch)
- Director appointment, SPIGA Claudio (director)
- Founding capital, €4,000
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
21 activities
- De uitbating van een dagbladhandel.
- De kleinhandel in boeken,kranten,tijdschriften,magazines en kantoorbehoeften.
- De kleinhandel in brood,banketbakkerswerk en suikerwerk alsook snoepgoed.
- De kleinhandel in alcoholische en andere dranken,inclusief de thuisbezorging daarvan uitgezonderd alcoholische dranken,invoeren van wijnen.
- De gespecialiseerde kleinhandel in geschenken met betrekking tot wooninrichting.
- De kleinhandel in imitatiesieraden,gadgets,enzovoort.
- De organisatie van loterijen,lotto’s,pronostieken,weddenschappen,kansspelen,enzovoort.
- Tussenpersoon in handel op commissie (lotto,joker,tiercé,PMU en dergelijke).
- Het verhuren van toestellen (zoals onder andere snoep-,sigaretten- en drankautomaten) en de commerciële uitbating ervan.
- De kleinhandel in kantoormaterieel- en meubelen,schoolmateriaal en dergelijke.
- De kleinhandel in tabaksproducten.
- De kleinhandel in telefoonkaarten,prepaidkaarten,enzovoort.
- Postpunt,afhaalpunt en verzendpunt van pakketjes via diverse operatoren
- Freelance IT consultancy activiteiten.
- Detailhandel in computers,randapparatuur en software en gespecialiseerde winkels.
- Computerconsultancy-activiteiten.
- Verlenen van advies aan de gebruikers over soorten computers (hardware) en hun configuratie en de toepassing van bijbehorende programmatuur (software).
- Gegevensverwerking,webhosting en aanverwante activiteiten.
- Reparatie van computers en randapparatuur.
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend patrimonium,alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten rechtspersonen en ondernemingen.
- Het verwerven van participaties in eender welke vorm in alle bestaande of op te richten rechtspersonen en vennootschappen,het stimuleren,de planning,de coördinatie,de ontwikkeling van en de investering in rechtspersonen en ondernemingen waarin zij al of niet een participatie aanhoudt.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73048B0237/00R005 | Flanders | 736 m² | 1 · 151 m² | 10.0 m · 3 |
| 73048E0927/00G029 | Flanders | 391 m² | 1 · 139 m² | 8.3 m · 1 |