FLOW PILOTS
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-07-2023, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
on the day
2021
48 d early
2020
47 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 32 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Turnover
€2.8m▼ 4.7%
2020 · €3.0m
EBIT margin
14.4%▼ 7.0pp
2020 · 21.4%
Net result
-€64,000
2021 · €275,627
Working capital
€517,740▼ 40.3%
2021 · €866,982
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2019202020212022
Turnover€2.8m-€3.0m▲ 4.5%€2.8m▼ 4.7%
Operating result€148,497-€637,173▲ 329%€407,681▼ 36.0%-€44,508
Net result€66,725-€433,696▲ 550%€275,627▼ 36.4%-€64,000
EBIT margin5.2%-21.4%▲ 16.2pp14.4%▼ 7.0pp
Equity€336,969-€467,185▲ 38.6%€594,300▲ 27.2%€530,299▼ 10.8%
Total assets€1.9m-€1.7m▼ 7.8%€1.7m▲ 1.2%€1.1m▼ 33.9%
Debt€1.5m-€1.2m▼ 18.1%€1.1m▼ 8.6%€610,612▼ 46.1%
Working capital€213,533-€562,921▲ 164%€866,982▲ 54.0%€517,740▼ 40.3%
Staff (FTE)17.1-17.5▲ 2.3%19.7▲ 12.6%17.6▼ 10.7%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €44,508 after €407,681 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.1m
Fixed assets
€38,668 ▼ 29.6%
Current assets
€1.1m ▼ 34.1%
Equity and liabilities €1.1m
Equity
€530,299 ▼ 10.8%
Debt
€610,612 ▼ 46.1%
Debt's share of the balance-sheet total falls from 65.6% to 53.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€26,371▼
2021 · €434,073
Cash flow
-€45,864▼
2021 · €302,019
Current ratio
1.89▼
2021 · 2.08
Debt to equity
1.15▼
2021 · 1.91
ROE
-12.1%▼
2021 · 46.4%
ROA
-5.6%▼
2021 · 16.0%
Interest coverage
-1.85▼
2021 · 30.07
Debt ≤ 1 year
€584,504▼
2021 · €804,711
Income taxes
€5,206▼
2021 · €117,058
Staff costs
€1.3m▲
2021 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €2.9m | - | - |
| Turnover70 | €2.8m | €3.0m | €2.8m | - | - |
| Other operating income74 | - | - | €78,180 | - | - |
| Operating charges60/66A | - | - | €2.5m | - | - |
| Goods for resale, raw materials and consumables60 | - | - | €26,000 | - | - |
| Purchases600/8 | - | - | €26,000 | - | - |
| Services and other goods61 | - | - | €1.2m | - | - |
| Remuneration, social security and pensions62 | - | - | €1.3m | €1.3m | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,192 | €23,057 | €26,392 | €18,137 | ▼ 31.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€32,750 | €0 | ▲ 100% |
| Other operating charges640/8 | - | - | €2,000 | €1,346 | ▼ 32.7% |
| Gross operating margin9900 | - | - | - | €1.3m | - |
| Operating profit (loss)9901 | €148,497 | €637,173 | €407,681 | -€44,508 | ▼ 111% |
| Financial income75/76B | - | - | €8 | €0 | ▼ 100% |
| Recurring financial income75 | €5,130 | - | €8 | €0 | ▼ 100% |
| Income from financial fixed assets750 | - | - | €2 | - | - |
| Other financial income752/9 | - | - | €6 | - | - |
| Financial charges65/66B | - | - | €15,004 | €14,286 | ▼ 4.8% |
| Recurring financial charges65 | €24,896 | €22,293 | €15,004 | €14,286 | ▼ 4.8% |
| Debt charges650 | €19,035 | €21,740 | €14,436 | - | - |
| Other financial charges652/9 | - | - | €568 | - | - |
| Profit (loss) for the period before taxes9903 | €128,731 | €614,880 | €392,685 | -€58,794 | ▼ 115% |
| Income taxes67/77 | €62,005 | €181,184 | €117,058 | €5,206 | ▼ 95.6% |
| Taxes670/3 | - | - | €117,146 | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €88 | - | - |
| Profit (loss) for the period9904 | €66,725 | €433,696 | €275,627 | -€64,000 | ▼ 123% |
| Transfer to tax-exempt reserves689 | - | - | €63,150 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €66,725 | €433,696 | €212,477 | -€64,000 | ▼ 130% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.9m | €1.7m | €1.7m | €1.1m | ▼ 33.9% |
| Fixed assets21/28 | €285,788 | €65,044 | €54,895 | €38,668 | ▼ 29.6% |
| Intangible fixed assets21 | €220,075 | - | - | - | - |
| Tangible fixed assets22/27 | €42,707 | €42,038 | €34,831 | €20,169 | ▼ 42.1% |
| Plant, machinery and equipment23 | - | - | €30,219 | €16,991 | ▼ 43.8% |
| Furniture and vehicles24 | - | - | €1,974 | €1,341 | ▼ 32.1% |
| Other tangible fixed assets26 | - | - | €2,638 | €1,837 | ▼ 30.4% |
| Financial fixed assets28 | €23,006 | €23,006 | €20,064 | €18,499 | ▼ 7.8% |
| Other financial fixed assets284/8 | - | - | €20,064 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €20,064 | - | - |
| Current assets29/58 | €1.6m | €1.6m | €1.7m | €1.1m | ▼ 34.1% |
| Stocks and contracts in progress3 | €99,422 | - | - | - | - |
| Amounts receivable within one year40/41 | €1.0m | €752,360 | €878,686 | €703,527 | ▼ 19.9% |
| Trade receivables40 | - | - | €873,540 | €703,527 | ▼ 19.5% |
| Other amounts receivable41 | - | - | €5,146 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €426,573 | €858,827 | €760,520 | €379,631 | ▼ 50.1% |
| Deferred charges and accrued income490/1 | - | - | €32,487 | €19,086 | ▼ 41.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.9m | €1.7m | €1.7m | €1.1m | ▼ 33.9% |
| Equity10/15 | €336,969 | €467,185 | €594,300 | €530,299 | ▼ 10.8% |
| Contributions10/11 | €95,000 | €92,650 | €92,650 | €92,650 | = |
| Capital10 | - | - | €92,650 | €92,650 | = |
| Issued capital100 | - | - | €92,650 | €92,650 | = |
| Reserves13 | €241,969 | €374,535 | €501,650 | €501,650 | = |
| Non-distributable reserves130/1 | - | - | €9,265 | €9,265 | = |
| Legal reserve130 | - | - | €9,265 | €9,265 | = |
| Tax-exempt reserves132 | - | - | €63,150 | €63,150 | = |
| Distributable reserves133 | - | - | €429,235 | €429,235 | = |
| Profit (loss) carried forward14 | - | - | - | -€64,000 | - |
| Amounts payable17/49 | €1.5m | €1.2m | €1.1m | €610,612 | ▼ 46.1% |
| Amounts payable within one year42/48 | €1.4m | €1.1m | €804,711 | €584,504 | ▼ 27.4% |
| Financial debts43 | - | - | €150,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €150,000 | €0 | ▼ 100% |
| Trade debts44 | €310,969 | €113,585 | €231,620 | €194,815 | ▼ 15.9% |
| Suppliers440/4 | - | - | €231,620 | €194,815 | ▼ 15.9% |
| Advances received on contracts in progress46 | - | - | - | €106,766 | - |
| Taxes, remuneration and social security45 | - | - | €256,248 | €279,593 | ▲ 9.1% |
| Taxes450/3 | - | - | €95,517 | €119,729 | ▲ 25.3% |
| Remuneration and social security454/9 | - | - | €160,732 | €159,863 | ▼ 0.5% |
| Other amounts payable47/48 | - | - | €166,843 | €3,330 | ▼ 98.0% |
| Accrued charges and deferred income492/3 | - | - | €327,578 | €26,108 | ▼ 92.0% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,725 | €433,696 | €275,627 | -€64,000 | ▼ 123% |
| + Depreciation and write-downs630 | €29,192 | €23,057 | €26,392 | €18,137 | ▼ 31.3% |
| Operating cash flow (approximation) | €95,917 | €456,754 | €302,019 | -€45,864 | ▼ 115% |
| Investment in fixed assets (approximation) | - | €197,687 | -€16,243 | -€1,909 | ▲ 88.2% |
| Change in cash | - | €432,254 | -€98,307 | -€380,889 | ▼ 287% |
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
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€64,000
Net result drops to -€64,000, the lowest in the series.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €500,000Eq €594,300 ▲27.2%
3 profitable years in a row build equity to €594,300.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2019net €433,696 ▲550%
Operating result €637,173, net result €433,696, both a record.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
06-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
04-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 4 days late
2014
11-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 42 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 17 acts read
About the unread acts
We know of 17 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Structure & network
Owners and holdings
1 ownerChain of control
- ACA GROUP
- ACA IT - SOLUTIONS
- FLOW PILOTS
Highest known parent: ACA GROUP. The sources do not say who stands above it.
Owners 1
- ACA IT - SOLUTIONSparent99.6%
Stated earlier (1)
An older source named these owners; newer accounts no longer list them.
-
99.99%
Holdings 0
The accounts to 31-12-2021 list no holdings, and no other source names one.
According to the 2021 annual accounts of FLOW PILOTS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.