FLV PROJECT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a profit of €2,657, after a loss of €1,426 in 2024.
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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €19,858 | €3,600 | €32,294 |
| Financial fixed assets | - | €2,700 | €0 |
| Depreciation and write-downs of the year | €2,836 | €6,277 | €6,415 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | €496 | €6,671 | ▲ 13× |
| Remuneration, social security and pensions62 | €2,027 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,836 | €6,277 | €6,415 | ▲ 2.2% |
| Other operating charges640/8 | €855 | €836 | €1,558 | ▲ 86.3% |
| Non-recurring operating charges66A | - | - | €376 | - |
| Gross operating margin9900 | €14,076 | €5,687 | €11,006 | ▲ 93.5% |
| Operating profit (loss)9901 | €8,359 | -€1,426 | €2,657 | - |
| Financial income75/76B | €0 | €1,888 | €20 | ▼ 99.0% |
| Recurring financial income75 | €0 | €1,888 | €20 | ▼ 99.0% |
| Financial charges65/66B | €50 | €140 | €188 | ▲ 33.8% |
| Recurring financial charges65 | €50 | €140 | €188 | ▲ 33.8% |
| Profit (loss) for the period before taxes9903 | €8,309 | €322 | €2,489 | ▲ 674% |
| Income taxes67/77 | €2,267 | €1,173 | €1,585 | ▲ 35.1% |
| Profit (loss) for the period9904 | €6,041 | -€852 | €904 | - |
| Profit (loss) for the period to be appropriated9905 | €6,041 | -€852 | €904 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €27,569 | €34,666 | €22,644 | ▼ 34.7% |
| Fixed assets21/28 | €17,022 | €15,889 | €7,763 | ▼ 51.1% |
| Tangible fixed assets22/27 | €17,022 | €13,189 | €7,763 | ▼ 41.1% |
| Plant, machinery and equipment23 | €2,175 | €5,218 | €5,412 | ▲ 3.7% |
| Furniture and vehicles24 | €14,848 | €7,972 | €2,352 | ▼ 70.5% |
| Financial fixed assets28 | - | €2,700 | €0 | ▼ 100% |
| Current assets29/58 | €10,547 | €18,777 | €14,881 | ▼ 20.7% |
| Stocks and contracts in progress3 | - | €1,745 | €10,100 | ▲ 479% |
| Stocks30/36 | - | €1,745 | €10,100 | ▲ 479% |
| Amounts receivable within one year40/41 | €921 | €17,025 | €2,403 | ▼ 85.9% |
| Trade receivables40 | €719 | €16,746 | €2,403 | ▼ 85.7% |
| Other amounts receivable41 | €202 | €278 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €9,478 | €7 | €2,306 | ▲ 318× |
| Deferred charges and accrued income490/1 | €149 | €0 | €72 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €27,569 | €34,666 | €22,644 | ▼ 34.7% |
| Equity10/15 | €9,041 | €8,190 | €9,093 | ▲ 11.0% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €6,041 | €6,041 | €6,041 | = |
| Distributable reserves133 | €6,041 | €6,041 | €6,041 | = |
| Profit (loss) carried forward14 | - | -€852 | €52 | - |
| Amounts payable17/49 | €18,528 | €26,477 | €13,551 | ▼ 48.8% |
| Amounts payable within one year42/48 | €18,528 | €26,477 | €13,551 | ▼ 48.8% |
| Trade debts44 | €479 | €4,792 | €2,753 | ▼ 42.5% |
| Suppliers440/4 | €479 | €4,792 | €2,753 | ▼ 42.5% |
| Taxes, remuneration and social security45 | €18,049 | €11,091 | €5,850 | ▼ 47.3% |
| Taxes450/3 | €6,549 | €4,951 | €5,850 | ▲ 18.2% |
| Remuneration and social security454/9 | €11,500 | €6,140 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €10,594 | €4,947 | ▼ 53.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,041 | -€852 | €904 | - |
| + Depreciation and write-downs630 | €2,836 | €6,277 | €6,415 | ▲ 2.2% |
| Operating cash flow (approximation) | €8,877 | €5,425 | €7,319 | ▲ 34.9% |
| Investment in fixed assets (approximation) | - | -€5,143 | €1,711 | - |
| Change in cash | - | -€9,470 | €2,298 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,546 companies had the same profile as FLV PROJECT has now. Two years later, 94.3% were still going and 2.3% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FLV PROJECT itself: 1.7% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,546 companies, not a prediction for FLV PROJECT. 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.