Checked.be
Active
BE 0878.375.283Private limited company
ISOFLEX
Heulekouter 40 ·8560 Wevelgem, Belgium· 20 yrs active
Sector: Insulation installation
(43230)
Conclusion
ISOFLEX has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €71k and a net result of €-3k. Equity is shrinking by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 84% of 26547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €71k |
| Net result | €-3k |
| Better than sector | 84% |
| Active | 20 yrs |
Financial profile
61
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
73
Profitability
0
Solvency
100
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2006, 20 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 Flags
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
73
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
93
2021
93
2022
52
2023
60
2024
73
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 8.87 (≥ 1.5)
+10
Quick ratio
Quick ratio 8.02 (≥ 1.0)
+5
Leverage
Debt/equity 0.26 (< 1.0)
+10
Profitability
Negatieve ROE -4%
-10
Interest coverage
Interest coverage 1.7×
+3
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 03-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Net result: declining trend of ~50.7%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 79.1% | 47.4% | |
| Net result | €-3k | €10k | |
| Equity | €71k | €60k | |
| Gross operating margin | €2k | €39k | |
| Staff costs | €283 | €40k |
€2k
-
21-25
€-3k
+64.4%
21-25
€413
-
21-25
€90k
-8.8%
21-25
€71k
-4.1%
21-25
€79k
-8.7%
21-25
€283
+362.6%
21-25
€264
+3.1%
21-25
€19k
-23.4%
21-25
€10k
+27.9%
21-25
€9k
-47.5%
21-25
8.87
-26.2%
21-25
8.02
-33.3%
21-25
79.1%
+5.2%
21-25
0.26
-20.1%
21-25
-4.2%
+62.9%
21-25
-3.4%
+61.0%
21-25
1.70
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €2k | €-3k | €97 | €23k | €39k |
| Net profit | €-3k | €-8k | €-15k | €13k | €21k |
| Cash flow | €413 | €-5k | €-11k | €17k | €30k |
| Staff costs | €283 | €61 | - | €-203 | €90 |
| Income taxes | €264 | €256 | €365 | €6k | €9k |
| Dividends | - | - | - | - | - |
| Total assets | €90k | €99k | €122k | €110k | €123k |
| Equity | €71k | €74k | €83k | €98k | €85k |
| Debt | €19k | €24k | €39k | €13k | €38k |
| of which ≤ 1y | €10k | €8k | €15k | €12k | €38k |
| of which > 1y | €9k | €17k | €24k | - | - |
| Working capital | €79k | €86k | €98k | €88k | €71k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 8.87 | 12.02 | 7.43 | 8.12 | 2.88 |
| Quick ratio | 8.02 | 12.02 | 7.43 | 8.12 | 2.88 |
| Working capital ratio | 87.6% | 87.4% | 80.8% | 79.7% | 57.7% |
| Solvency | 79.1% | 75.2% | 68.0% | 88.7% | 69.2% |
| Debt / equity | 0.26 | 0.33 | 0.47 | 0.13 | 0.44 |
| Long-term debt ratio | 0.12 | 0.22 | 0.29 | - | - |
| Interest coverage | 1.70 | -1.70 | 0.91 | 25.67 | 42.29 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -3.4% | -8.6% | -12.5% | 11.9% | 16.8% |
| ROE | -4.2% | -11.4% | -18.4% | 13.4% | 24.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 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 | €90k | €99k | €122k | €110k | €123k |
| Fixed assets | 21/28 | €1k | €5k | €8k | €10k | €14k |
| Tangible fixed assets | 22/27 | €1k | €5k | €8k | €10k | €14k |
| Current assets | 29/58 | €89k | €94k | €114k | €100k | €108k |
| Stocks & contracts in progress | 3 | €9k | - | - | - | - |
| Amounts receivable within one year | 40/41 | €21k | €29k | €50k | €7k | €28k |
| Cash & bank | 54/58 | €55k | €61k | €59k | €93k | €80k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €90k | €99k | €122k | €110k | €123k |
| Equity | 10/15 | €71k | €74k | €83k | €98k | €85k |
| Contributions / capital | 10/11 | €13k | €13k | €13k | €13k | €13k |
| Reserves | 13 | €59k | €62k | €70k | €85k | €72k |
| Amounts payable | 17/49 | €19k | €24k | €39k | €13k | €38k |
| Amounts payable after one year | 17 | €9k | €17k | €24k | - | - |
| Amounts payable within one year | 42/48 | €10k | €8k | €15k | €12k | €38k |
| Trade debts payable within one year | 44 | €777 | - | €2k | €15 | €14k |
| Income statement | ||||||
| Gross operating margin | 9900 | €2k | €-3k | €627 | €24k | €40k |
| Operating result | 9901 | €-2k | €-7k | €-4k | €19k | €30k |
| Financial income | 75 | €2 | €90 | €215 | €168 | €489 |
| Financial charges | 65 | €957 | €2k | €106 | €914 | €928 |
| Result before taxes | 9903 | €-3k | €-8k | €-15k | €19k | €30k |
| Income taxes | 67/77 | €264 | €256 | €365 | €6k | €9k |
| Net result for the period | 9904 | €-3k | €-8k | €-15k | €13k | €21k |
| Result to be appropriated | 9905 | €-3k | €-8k | €-15k | €13k | €21k |
Legal Structure
| NACE primary | Insulation installation(43230) |
| Legal form | Private limited company(610) |
| Incorporation | 05-01-2006 |
| Status | Active |
| Postal code | 8560 |
Establishment units
ISOFLEX
since 20062.151.042.207
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34012C0300/00L000 | Flanders | 682 m² | 1 · 257 m² | 13.4 m · 1 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
Next filing, fiscal year 2026, expected by
2026
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-15k ▼216%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Liquidity triplescurrent ratio 8.12
Current ratio from 2.88 to 8.12; short-term debt falls from €38k to €12k.
09-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 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
Company registry (CBE)
Activities
Insulation installation43230Specialised construction activities43291Other specialised construction activities43990Specialised construction activities4399945250
Names & trade names
| Legal nameNL | ISOFLEX |
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