Equity
-€14,664
Debts exceed assets in financial year 2024.
Flow
Lifetime
8 annual accounts with figures on one time axispeak €31,533 (2019)
€2,595▼ 49.6%
lowest -€88,146 (2017)
€477▼ 78.1%
peak -€14,664 (2024)
-€14,664▲ €477
€49,158▲ 52.2%
Board1 name since 2021
1 directorLeroy Wouter
Documentsfilings and deeds
01-06-2026305 days late
2024micro format
Gross margin from €5,152 to €2,595Result from €2,177 to €477Registered office moved from Zottegem to Wommelgem 26-02Debts from €32,290 to €49,158
Key points
from the 2024 annual accountsTurnover
≈ €16,000 estimated
The micro format states no turnover.
Debts
€49,158 143% of the balance sheet
Financial debts 41%Taxes and wages 38%Other 21%
Of this, €29,158 falls due within a year.
Filings
8 annual accounts 101 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
At the same address
106 companies
Position in the sector
-€14,664
Less equity than 91% of companies in advertising and market research. Sector median €62,901 · 8,799 companies.
Checked score
28
Weak
Financially stronger than 23% of micro companies in advertising and market research (NACE 73)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
13.3% High
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,230 companies (NACE 73, micro).
About 1 in 8 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 6.1%lowest value
01-2025: 6.1%● unchanged vs 12-2024lowest value
02-2025: 10.9%▲ +4.8 percentage points vs 01-2025
03-2025: 10.9%● unchanged vs 02-2025
04-2025: 10.9%● unchanged vs 03-2025
05-2025: 21.1%▲ +10.2 percentage points vs 04-2025highest value
06-2025: 20.9%▼ -0.2 percentage points vs 05-2025
07-2025: 20.9%● unchanged vs 06-2025
08-2025: 20.1%▼ -0.8 percentage points vs 07-2025
09-2025: 20.1%● unchanged vs 08-2025
10-2025: 20.1%● unchanged vs 09-2025
11-2025: 20.1%● unchanged vs 10-2025
01-2026: 20.1%
02-2026: 20.1%● unchanged vs 01-2026
03-2026: 10.2%▼ -9.9 percentage points vs 02-2026
04-2026: 10.1%▼ -0.1 percentage points vs 03-2026
05-2026: 10.1%● unchanged vs 04-2026
06-2026: 10.1%● unchanged vs 05-2026
07-2026: 9.6%▼ -0.5 percentage points vs 06-2026
08-2026: 10.6%▲ +1.0 percentage point vs 07-2026
09-2026: 11.5%▲ +0.9 percentage points vs 08-2026
10-2026: 13.3%▲ +1.8 percentage points vs 09-2026
11-2026: 13.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
1 financial year not filed after the legal deadline; last filed accounts filed 305 days late; 3 of the last 3 accounts late
Ex-officio strike-off in the KBO
1 change of registered office in 24 months
lowers risk
Sector: Advertising, market research and public relations activities (NACE 73)
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 73, micro). It does better than 5% of them on solvency, 6% on liquidity, 32% on profitability and 51% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the high class on 30-06-2025, 14.6% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 1,379 companies had the same profile as Flow has now. Each dot stands for 4 companies, two years later.
94.3%
were still trading
3.2%
stopped another way
2.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Flow itself is higher: 13.3% within 12 months. It rests on far more data about Flow than the profile alone.
Test of the method
The method was tested on the 497,447 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 1,379 companies, not a prediction for Flow. 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.
Credit verdict
No credit on open account
Liquidity is tight, with a current ratio of 1.13 (1.18 in 2023), below the usual 1.5. Short-term debt is 84.5% and cash 3.1% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Nine signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 8787 sector peers (2024).
NBB · sector comparisonPosition among 8787 sector peers
Solvency
better than 8%
← weakest
strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 101 days later.
NBB · 8 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline09-11-2026 today
raises risk · 2024 accounts filed 305 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-06-2026, 305 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 8 filingsDeviation from the deadline
2025
not filed
2024
305 days late
2023
670 days late
2022
1036 days late
2021
31 days late
2020
31 days late
2019
31 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 340 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
raises risk · Administrative warnings in the KBO publications
The FPS Economy published 2 notices about the company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
Address struckAddress strikeout annulled
Recent changes
Judicial dissolution, liquidator appointed
Enterprise Court of Antwerp, Antwerp division · Van Moorleghem Stephane · judgment of 14-04-2026 · Bankruptcy
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0648591389
Bankruptcy reversal
Enterprise Court of Antwerp, Antwerp division · judgment of 11-12-2025 · Bankruptcy
Bankruptcy published
Enterprise Court of Antwerp, Antwerp division · judgment of 06-11-2025 · Bankruptcy
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Flow Antwerp | €34,494 | €2,595 | -42.5% | - |
| AT EASE Tervuren | €28,215 | €3,102 | 11.4% | - |
| CCSI advice Ostend | €24,835 | €2,155 | -5.7% | - |
| CDK Europe Mechelen | €41,742 | €3,250 | 85.7% | - |
| INDALOGIC Schilde | €23,591 | €2,214 | 0.5% | - |
| Maple Wisdom Woluwe-Saint-Lambert | €33,072 | €2,893 | 66.7% | - |
| PROVEST Waterloo | €47,120 | €3,941 | 51.7% | - |
These companies have the same main activity as Flow: public relations and communication consultancy (NACE 73300). They are comparable in size and age: total assets between €23,600 and €47,100, founded between 2011 and 2016.
Official details
Source: KBO- Status
- Active since 11-02-2016Normal situation
- Registered office
- 107 active companies are registered at this address18 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Public relations and communication consultancyNACE 73300and 4 others
- Establishment unit
- 2.251.211.9292600 Antwerp, since 11-02-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 01-01-2026
Insights on Flow
Flow files the micro format. That format states no turnover. The gross margin rose from -€59,682 in 2017 to €2,595 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Flow
- What is the company number of Flow?
- The company number of Flow is 0648.591.389. The VAT number is the same number with BE in front: BE 0648.591.389.
- Where is Flow based?
- The registered office is at Uitbreidingstraat 66, 2600 Antwerp.Company details
- What does Flow do?
- According to the KBO register, the main activity is public relations and communication consultancy (NACE 73300).
- What is the legal form of Flow?
- Flow is a private limited company (pre-2019) (BVBA).
- When was Flow founded?
- Flow was founded on 11-02-2016.
- Is Flow still active?
- Yes, Flow is an active enterprise in the KBO register.
- What is the turnover of Flow?
- The turnover in financial year 2024 is ≈ €16,000. This figure is estimated from the gross margin of €2,595 and 40 comparable companies (NACE 73300). It probably lies between €6,800 and €27,000. It is a rough estimate.Financials
- Is Flow profitable?
- In financial year 2024, Flow made a profit of €477.
- Where can I find the annual accounts of Flow?
- Flow filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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