FLOW
ActiveFrom the official registers: KBO 6 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
The computed 12-month bankruptcy probability of FLOW is 2.4% (moderate). The 2025 annual accounts show equity of €9,548 and a net result of €9,156. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 33% of 22,726 sector peers (NACE 47, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 26-06-2019 Normal situation
- Legal form
- Private limited company
- Registered office
- Garibaldistraat 108, 1060 Sint-Gillis (bij-Brussel)
- Activity
- Other non-specialised retail sale NACE 47120and 1 other
- Establishment units
- 3 establishment units
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.4%
- Gross margin
- €13,037
- Turnover
- ≈ €140,000
- estimated
- Profit
- €9,156
- Equity
- €9,548
- ▲ 24×
- Total assets
- €67,876
- ▲ 24.1%
Score breakdownraises riskLast filed accounts filed 30 days late; 1 of the last 3 accounts lateFounded in 20191 change of registered office in 24 monthslowers riskLiquidity: current ratio 1.14, cash €11,202Show the evidence
Checked score
About 2 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 30% of them on solvency, 21% on liquidity, 80% on profitability and 99% on growth.
The bankruptcy probability was computed on 31-10-2026 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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Signals
The company filed its last 6 accounts on average 44 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00474849.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 30-08-2026
- Format
- micro format
- Reference
- 2026-00474849
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is a profit of €12,685, after a loss of €470 in 2024. It is the highest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 6,713 companies had the same profile as FLOW has now. Two years later, 1.8% had gone bankrupt and 95.8% were still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FLOW itself is higher: 2.4% 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 497,445 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 6,713 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.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €498 | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €352 | - |
| Other operating charges640/8 | - | - | €50 | - | - | - | - |
| Gross operating margin9900 | -€3,206 | -€132 | €2,481 | -€986 | -€470 | €13,037 | - |
| Operating profit (loss)9901 | -€3,206 | -€132 | €2,431 | -€986 | -€470 | €12,685 | - |
| Financial income75/76B | - | - | - | €2 | €458 | €1 | ▼ 99.7% |
| Recurring financial income75 | - | - | - | €2 | €458 | €1 | ▼ 99.7% |
| Financial charges65/66B | - | €72 | €205 | €196 | €222 | €256 | ▲ 15.1% |
| Recurring financial charges65 | €11 | €72 | €205 | €196 | €222 | €256 | ▲ 15.1% |
| Profit (loss) for the period before taxes9903 | -€3,216 | -€204 | €2,226 | -€1,180 | -€234 | €12,430 | - |
| Income taxes67/77 | - | - | - | - | - | €3,274 | - |
| Profit (loss) for the period9904 | -€3,216 | -€204 | €2,226 | -€1,180 | -€234 | €9,156 | - |
| Profit (loss) for the period to be appropriated9905 | -€3,216 | -€204 | €2,226 | -€1,180 | -€234 | €9,156 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €281 | €2,756 | €10,800 | €21,123 | €54,674 | €67,876 | ▲ 24.1% |
| Fixed assets21/28 | - | - | €100 | €100 | €982 | €1,509 | ▲ 53.6% |
| Tangible fixed assets22/27 | - | - | - | - | €882 | €1,409 | ▲ 59.7% |
| Plant, machinery and equipment23 | - | - | - | - | €882 | €1,409 | ▲ 59.7% |
| Financial fixed assets28 | - | - | €100 | €100 | €100 | €100 | = |
| Current assets29/58 | €281 | €2,756 | €10,700 | €21,023 | €53,692 | €66,367 | ▲ 23.6% |
| Stocks and contracts in progress3 | - | €2,303 | €5,505 | €13,885 | €46,990 | €52,670 | ▲ 12.1% |
| Stocks30/36 | - | €2,303 | €5,505 | €13,885 | €46,990 | €52,670 | ▲ 12.1% |
| Amounts receivable within one year40/41 | - | - | €3,737 | €624 | €3,564 | €2,495 | ▼ 30.0% |
| Trade receivables40 | - | - | €3,737 | €624 | €3,564 | €2,495 | ▼ 30.0% |
| Cash at bank and in hand54/58 | €281 | €452 | €1,457 | €6,514 | €3,138 | €11,202 | ▲ 257% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €281 | €2,756 | €10,800 | €21,123 | €54,674 | €67,876 | ▲ 24.1% |
| Equity10/15 | -€216 | -€420 | €1,806 | €627 | €392 | €9,548 | ▲ 24× |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Contributions outside capital11 | - | €3,000 | €3,000 | - | - | - | - |
| Other1109/19 | - | €3,000 | €3,000 | - | - | - | - |
| Profit (loss) carried forward14 | -€3,216 | -€3,420 | -€1,194 | -€2,373 | -€2,608 | €6,548 | - |
| Amounts payable17/49 | €497 | €3,176 | €8,993 | €20,497 | €54,282 | €58,327 | ▲ 7.5% |
| Amounts payable within one year42/48 | €497 | €3,176 | €8,993 | €20,497 | €54,282 | €58,327 | ▲ 7.5% |
| Trade debts44 | - | - | €4,907 | €10,988 | €42,241 | €51,498 | ▲ 21.9% |
| Suppliers440/4 | - | - | €4,907 | €10,988 | €42,241 | €51,498 | ▲ 21.9% |
| Taxes, remuneration and social security45 | - | €1,100 | €2,070 | €3,563 | €3,164 | €4,646 | ▲ 46.9% |
| Taxes450/3 | - | €1,100 | €2,070 | €3,563 | €3,164 | €4,646 | ▲ 46.9% |
| Other amounts payable47/48 | - | €2,076 | €2,015 | €5,945 | €8,878 | €2,184 | ▼ 75.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,216 | -€204 | €2,226 | -€1,180 | -€234 | €9,156 | - |
| + Depreciation and write-downs630 | - | - | - | - | - | €352 | - |
| Operating cash flow (approximation) | -€3,216 | -€204 | €2,226 | -€1,180 | -€234 | €9,508 | - |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€882 | -€879 | ▲ 0.4% |
| Change in cash | - | €171 | €1,005 | €5,057 | -€3,376 | €8,064 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-08-2026 | 2026-00474849 | NBB |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00455561 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00419820 | |
| 31-12-2022 | micro format | 01-08-2023 | 2023-00302255 | |
| 31-12-2021 | micro format | 28-09-2022 | 2022-20438260 | |
| 31-12-2020 | micro format | 18-11-2021 | 2021-77700331 |
Comparable companies
These companies have the same main activity as FLOW: other non-specialised retail sale (NACE 47120). They are comparable in size and age: total assets between €60,700 and €77,000, founded between 2018 and 2020.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| FLOW Sint-Gillis (bij-Brussel) | 2019 | €67,876 | €9,548 | €13,037 | €9,156 | 2025 |
| WAHDAT Evere | 2019 | €64,436 | €17,104 | €13,769 | €3,603 | 2025 |
| FLEMAR Jette | 2019 | €76,958 | €18,933 | €16,217 | -€16,714 | 2025 |
| OMEID Anderlecht | 2018 | €64,428 | -€1,358 | €20,472 | -€10,701 | 2025 |
| ELYSIAN Aartselaar | 2019 | €62,416 | €16,860 | €11,618 | €7,774 | 2025 |
| DRAGON PRODUCTIONS Liège | 2019 | €64,243 | €29,910 | €17,174 | €9,027 | 2025 |
| IBANEZ CONSULT Vilvoorde | 2020 | €60,738 | €54,919 | €17,772 | €9,238 | 2025 |
They were chosen from the 2,370 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Dachi Khechuashvili |
|
| Merab Chitanava |
|
Owners and capital
Owners
Group and network
Connections & network
1 current directorThe network starts from the directors of FLOW. Every other company they run is a node.
History
Acts, filings and financial milestones
19-09
Gazette deed
Resignation: Merab Chitanava (director)Appointment: Dachi Khechuashvili (director) · Registered-office move4 points ▸
- General meeting, 11-09-2025
- Director resignation, Merab Chitanava (director)
- Director appointment, Dachi Khechuashvili (director)
- Registered-office move, Rue Garibaldi 108, 1060 Saint Gilles
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
3 sitesEnvironmental permits: No permit applications found in Flanders.
Sites & property
3 establishment units
Buildings and parcels at the addresses
3 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21306C0105/00E000 | Brussels | 2,151 m² | 1 · 625 m² | 40.0 m · 12 |
| 21562A0194/00N003 | Brussels | 419 m² | 1 · 200 m² | 24.1 m · 4 |
| 44815F1037/00A000 | Flanders | 45 m² | 1 · 45 m² | 13.2 m · 4 |