Active BE 0476.093.915Private limited company

FLOW

Schoonboeke 10 ·9600 Ronse, Belgium· 24 yrs active

Sector: Activities of holding companies (64210)

Conclusion Checked

FLOW is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €4.14M and a net result of €-1.39M. Equity is shrinking by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 83% of 5394 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€4.14M
Net result	€-1.39M
Better than sector	83%
Active	24 yrs

Financial profile 4 of 5 axes measured · computed by Checked

49 / 100

Mixed profile: strong on stability, weaker on profitability.

Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.

Health -

Profitability 0

Solvency 70

Growth 27

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

This is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 2001, 24 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score

Model not applicable to financial institutions

The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here.

Financial overview24 NBB filings

Annual accounts filed on 29-01-2026 with the NBB · fiscal year 2025 · abbreviated schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~155% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 64, Financial service activities, except insurance and pension funding · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	87.9%	51.9%	better than 83% of 5394 sector peers
Net result	€-1.39M	€53k	better than 5% of 5395 sector peers
Equity	€4.14M	€623k	better than 86% of 5395 sector peers
Gross operating margin	€233k	€87k	better than 76% of 5391 sector peers
Total assets	€4.71M	€1.55M	better than 78% of 5395 sector peers

Net profit

€-1.39M

- 21-25

Total assets

€4.71M

-24.8% 21-25

Equity

€4.14M

-25.8% 21-25

Employees (FTE)

0

-85.7% 21-25

Staff costs

€32k

-58.1% 21-25

Income taxes

€13k

-63.2% 21-25

Dividends

€65k

-98.2% 21-25

Debt

€569k

-16.3% 21-25

Debt ≤ 1y

€384k

+4.8% 21-25

Debt > 1y

€160k

-46.2% 21-25

Solvency

87.9%

-1.4% 21-25

ROE

-33.6%

- 21-25

ROA

-29.5%

- 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	abbreviated schema	full schema	full schema	full schema
Revenue	n/a	n/a	n/a	n/a	n/a
EBITDA	n/a	n/a	n/a	n/a	n/a
Net profit	€-1.39M	€36k	€3.62M	€327k	€75k
Cash flow	n/a	n/a	n/a	n/a	n/a
Staff costs	-	€32k	€75k	-	-
Income taxes	-	€13k	€34k	€26k	€25k
Dividends	-	€65k	€3.70M	€84k	€84k
Total assets	€4.71M	€6.26M	€7.90M	€14.00M	€12.80M
Equity	€4.14M	€5.58M	€7.13M	€11.87M	€11.62M
Debt	€569k	€680k	€775k	€2.14M	€1.18M
of which ≤ 1y	€384k	€366k	€292k	€1.50M	€369k
of which > 1y	€160k	€298k	€467k	€628k	€799k
Working capital	n/a	n/a	n/a	n/a	n/a
Employees (FTE)	-	0.1	0.7	-	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	n/a	n/a	n/a	n/a	n/a
Quick ratio	n/a	n/a	n/a	n/a	n/a
Working capital ratio	n/a	n/a	n/a	n/a	n/a
Solvency	87.9%	89.1%	90.2%	84.7%	90.8%
Debt / equity	n/a	n/a	n/a	n/a	n/a
Long-term debt ratio	n/a	n/a	n/a	n/a	n/a
Interest coverage	n/a	n/a	n/a	n/a	n/a
Gross margin	n/a	n/a	n/a	n/a	n/a
Net margin	n/a	n/a	n/a	n/a	n/a
ROA	-29.5%	0.6%	45.8%	2.3%	0.6%
ROE	-33.6%	0.6%	50.8%	2.8%	0.6%
EBITDA margin	n/a	n/a	n/a	n/a	n/a
Days sales outstanding	n/a	n/a	n/a	n/a	n/a
Days payable outstanding	n/a	n/a	n/a	n/a	n/a
Inventory turnover	n/a	n/a	n/a	n/a	n/a
Days inventory (DSI)	n/a	n/a	n/a	n/a	n/a

Balance-sheet composition 2025

Assets

Fixed assets €4.45M · 94.5% Current assets €257k · 5.5%

Equity & liabilities

Equity €4.14M · 87.9% Debt €569k · 12.1%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€4.71M	€6.26M	€7.90M	€14.00M	€12.80M
Fixed assets	21/28	€4.45M	€6.03M	€7.77M	€12.02M	€12.14M
Tangible fixed assets	22/27	€3.68M	€3.76M	€1.24M	€1.31M	€1.42M
Financial fixed assets	28	€773k	€2.27M	€6.53M	€10.72M	€10.72M
Current assets	29/58	€257k	€224k	€136k	€1.98M	€668k
Amounts receivable within one year	40/41	€209k	€182k	€83k	€1.93M	€571k
Cash & bank	54/58	€29k	€22k	€26k	€43k	€73k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€4.71M	€6.26M	€7.90M	€14.00M	€12.80M
Equity	10/15	€4.14M	€5.58M	€7.13M	€11.87M	€11.62M
Contributions / capital	10/11	€19k	€19k	€19k	€19k	-
Reserves	13	€1.49M	€2.93M	€2.96M	€3.04M	€2.79M
Accumulated profits (losses)	14	-	-	-	-	€2.14M
Amounts payable	17/49	€569k	€680k	€775k	€2.14M	€1.18M
Amounts payable after one year	17	€160k	€298k	€467k	€628k	€799k
Amounts payable within one year	42/48	€384k	€366k	€292k	€1.50M	€369k
Trade debts payable within one year	44	€175k	€135k	€29k	€44k	€40k
Income statement
Turnover	70	-	-	€601k	€667k	€667k
Gross operating margin	9900	€233k	€192k	-	-	-
Operating result	9901	€90k	€21k	€94k	€101k	€109k
Financial income	75	€27k	€47k	€3.58M	€284k	€10k
Financial charges	65	€14k	€19k	€19k	€32k	€19k
Result before taxes	9903	€-1.39M	€49k	€3.66M	€353k	€100k
Income taxes	67/77	-	€13k	€34k	€26k	€25k
Net result for the period	9904	€-1.39M	€36k	€3.62M	€327k	€75k
Result to be appropriated	9905	€-1.39M	€36k	€3.62M	€327k	€75k

Legal Structure

NACE primary	Activities of holding companies(64210)
Legal form	Private limited company(610)
Incorporation	19-11-2001
Status	Active
Postal code	9600

Establishment units 1 location

Schoonboeke 10, 9600 Ronse

Other manufacturing

since 20032.131.490.371

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
45422C1202/00C000	Flanders	1.8 ha	1 · 4,298 m²	9.1 m · 3 fl.

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.

Updates 10 events

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

29-01

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

30-06

Financial Weakest financial yearnet €-1.39M ▼3938%

Net result drops to €-1.39M, the lowest in the series.

20-01

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

12-01

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

30-06

Financial Highest result since 2021net €3.62M ▲1009%

Net result €3.62M, the highest in the series.

2022

22-12

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2021

23-12

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2020

26-11

NBB filing Annual accounts filed

fiscal year 2020 · full schema

23-01

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

25-01

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2017

15-12

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2016

24-11

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 6 acts read

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Holdings64200Activities of holding companies6421074151Retail sale of electrical household appliances4754052450

Names & trade names

Legal nameNL

FLOW

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