LOGFLOW
ActiveSummary
LOGFLOW has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €690,650 and a net result of -€224,553. Equity remains stable across the filed financial years (±0.4% per year). Its solvency ranks better than 19% of 2,797 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
- Staff
- 25.9 FTE
- Equity
- €690,650
- Loss
- -€224,553
- Largest shareholder
- Ir. Bart Kindt · 20%
- EVDB InvestManaging director · permanent representative Vandenbussche Eric
- Ir. Bart KindtDirector
- Optima-BeliDirector · permanent representative Sepot Sylvie
Why 67raises riskLiquidity: current ratio 0.78, cash €179,238Equity €690,650 (7.5% of total assets)Size: turnover €6.6m, 25.9 FTE, total assets €9.2mLoss of €224,553, the second in a row (financial year 2025)Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 82, small): better than 14% on solvency, 35% on liquidity, 38% on profitability and 44% on growth.
The bankruptcy probability was computed on 25-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 63 days before the deadline; the sector median (NACE 82) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
- Reappointments: EVDB invest BV, Ir. Bart…Gazette deed
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, abbreviated format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €21,859 after a loss of €246,034 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 82, Office administrative, office support and other business support activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 912 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 95.3% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 912 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €6.4m | €4.9m | €5.8m | €5.3m | €5.5m | €5.7m | €6.6m | ▲ 15.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €2.5m | €2.1m | €2.0m | €3.0m | €3.8m | ▲ 25.5% |
| Remuneration, social security and pensions62 | - | - | €2.9m | €3.0m | €3.0m | €2.5m | €2.4m | ▼ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | €0.4m | €0.4m | €0.5m | €0.7m | €0.8m | ▲ 17.3% |
| Other operating charges640/8 | - | - | €0.004m | €0.01m | €0.02m | €0.07m | €0.03m | ▼ 61.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.2m | €0 | ▼ 100% |
| Gross operating margin9900 | €3.2m | €2.6m | €3.7m | €3.8m | €3.8m | €3.2m | €3.2m | = |
| Operating profit (loss)9901 | €0.5m | €0.4m | €0.4m | €0.3m | €0.3m | -€0.2m | €0.02m | - |
| Financial income75/76B | - | - | €122 | €79 | €0.01m | €0.001m | €429 | ▼ 57.6% |
| Recurring financial income75 | €0.07m | €0.03m | €122 | €79 | €0.01m | €0.001m | €429 | ▼ 57.6% |
| Financial charges65/66B | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 0.7% |
| Recurring financial charges65 | €0.06m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 0.7% |
| Profit (loss) for the period before taxes9903 | €0.5m | €0.3m | €0.2m | €0.1m | €0.1m | -€0.5m | -€0.2m | ▲ 55.9% |
| Income taxes67/77 | €0.05m | €0.03m | €0.03m | €0.02m | €0.02m | €0.07m | €0.01m | ▼ 82.3% |
| Profit (loss) for the period9904 | €0.4m | €0.3m | €0.2m | €0.1m | €0.09m | -€0.6m | -€0.2m | ▲ 59.2% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.3m | €0.2m | €0.1m | €0.09m | -€0.6m | -€0.2m | ▲ 59.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €8.3m | €9.6m | €9.8m | €9.4m | €9.8m | €9.9m | €9.2m | ▼ 6.7% |
| Formation expenses20 | €0.2m | €0.3m | €0.5m | €0.7m | €1.2m | €1.4m | €1.0m | ▼ 28.3% |
| Fixed assets21/28 | €5.2m | €7.1m | €7.3m | €7.0m | €7.1m | €6.9m | €6.6m | ▼ 4.0% |
| Intangible fixed assets21 | - | €0.7m | €0.7m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 6.7% |
| Tangible fixed assets22/27 | €4.6m | €6.4m | €6.7m | €6.5m | €6.6m | €6.4m | €6.2m | ▼ 3.8% |
| Land and buildings22 | - | - | €6.2m | €6.0m | €5.9m | €5.7m | €5.5m | ▼ 3.0% |
| Furniture and vehicles24 | - | - | €0.5m | €0.4m | €0.7m | €0.7m | €0.6m | ▼ 10.3% |
| Financial fixed assets28 | €0.6m | €0.006m | €0.003m | €0.001m | €0.001m | €0.001m | €350 | ▼ 60.5% |
| Current assets29/58 | €2.9m | €2.1m | €2.1m | €1.6m | €1.5m | €1.6m | €1.6m | ▲ 0.7% |
| Stocks and contracts in progress3 | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Stocks30/36 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Amounts receivable within one year40/41 | €1.7m | €1.1m | €1.2m | €1.3m | €1.1m | €1.2m | €1.2m | ▲ 1.4% |
| Trade receivables40 | - | - | €1.1m | €1.2m | €1.0m | €1.2m | €1.2m | ▲ 3.5% |
| Other amounts receivable41 | - | - | €0.04m | €0.07m | €0.1m | €0.03m | €0.01m | ▼ 69.6% |
| Cash at bank and in hand54/58 | €1.2m | €0.9m | €0.7m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 19.9% |
| Deferred charges and accrued income490/1 | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 27.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €8.3m | €9.6m | €9.8m | €9.4m | €9.8m | €9.9m | €9.2m | ▼ 6.7% |
| Equity10/15 | €0.9m | €1.2m | €1.3m | €1.4m | €1.5m | €0.9m | €0.7m | ▼ 24.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.6m | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Non-distributable reserves130/1 | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | €0.7m | €0.8m | €0.9m | €0.9m | €0.9m | = |
| Profit (loss) carried forward14 | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | -€0.05m | -€0.3m | ▼ 411% |
| Amounts payable17/49 | €7.4m | €8.4m | €8.6m | €8.0m | €8.3m | €8.9m | €8.5m | ▼ 4.9% |
| Amounts payable after more than one year17 | €4.5m | €5.8m | €5.8m | €6.2m | €6.7m | €7.2m | €6.5m | ▼ 10.3% |
| Financial debts170/4 | - | - | €5.8m | €6.2m | €6.7m | €7.2m | €6.5m | ▼ 10.3% |
| Amounts payable within one year42/48 | €2.9m | €2.6m | €2.8m | €1.9m | €1.6m | €1.7m | €2.0m | ▲ 17.5% |
| Current portion of amounts payable after more than one year42 | - | - | €0.6m | €0.5m | €0.5m | €0.3m | €0.5m | ▲ 86.2% |
| Financial debts43 | - | - | €0.6m | €0.4m | €0.2m | €0.2m | €0.2m | ▲ 1.2% |
| Credit institutions430/8 | - | - | €0.6m | €0.4m | €0.2m | €0.2m | €0.2m | ▲ 1.2% |
| Trade debts44 | €0.3m | €0.6m | €0.6m | €0.6m | €0.5m | €1.0m | €1.0m | ▲ 8.6% |
| Suppliers440/4 | - | - | €0.6m | €0.6m | €0.5m | €1.0m | €1.0m | ▲ 8.6% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.006m | €0.006m | ▲ 4.8% |
| Taxes, remuneration and social security45 | - | - | €0.5m | €0.4m | €0.3m | €0.3m | €0.3m | ▼ 7.8% |
| Taxes450/3 | - | - | €0.09m | €0.07m | €0.02m | €0.09m | €0.04m | ▼ 51.9% |
| Remuneration and social security454/9 | - | - | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 11.3% |
| Other amounts payable47/48 | - | - | €0.5m | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €0.004m | €0.002m | €0.002m | €0.002m | €0.003m | ▲ 7.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.3m | €0.2m | €0.1m | €0.09m | -€0.6m | -€0.2m | ▲ 59.2% |
| + Depreciation and write-downs630 | €0.3m | €0.2m | €0.4m | €0.4m | €0.5m | €0.7m | €0.8m | ▲ 17.3% |
| Operating cash flow (approximation) | €0.8m | €0.5m | €0.6m | €0.6m | €0.6m | €0.1m | €0.5m | ▲ 404% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€0.6m | -€0.1m | -€0.6m | -€0.5m | -€0.5m | ▼ 1.8% |
| Change in cash | - | -€0.3m | -€0.2m | -€0.5m | -€0.008m | €0.03m | -€0.04m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-03-2026 | 2026-00071449 |
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00210423 |
| 31-12-2023 | abbreviated format | 07-05-2024 | 2024-00086459 |
| 31-12-2022 | abbreviated format | 11-05-2023 | 2023-00087500 |
| 31-12-2021 | abbreviated format | 25-05-2022 | 2022-20040091 |
| 31-12-2020 | abbreviated format | 15-06-2021 | 2021-20300203 |
| 30-11-2019 | abbreviated format | 18-06-2020 | 2020-18200570 |
| 31-12-2017 | abbreviated format | 12-03-2018 | 2018-06700190 |
| 31-12-2016 | abbreviated format | 26-06-2017 | 2017-22200344 |
| 31-12-2015 | abbreviated format | 27-07-2016 | 2016-37100342 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2025 · 7 entries · €17,037 awarded · €16,887 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,120 | €2,120 |
| 2024 | 2 | €9,843 | €9,843 |
| 2023 | 2 | €991 | €1,161 |
| 2022 | 2 | €4,083 | €3,763 |
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.
Directors
Board 3
Day-to-day management 1
Permanent representatives 3
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| EVDB Invest |
|
| Ir. Bart Kindt |
|
| Optima-Beli |
|
Owners and capital
Owners
2 ownersOwners 2
-
20%
-
10%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
3 current directorsThe board mandates are listed below; here you explore them as a network.
History
Acts, filings and financial milestones
21-05
Gazette deed
Reappointments: EVDB invest BV, Ir. Bart Kindt BV and Optima-Beli BV6 facts ▸
- General meeting, 27-03-2026
- Director reappointment, EVDB invest BV (director)
- Director reappointment, Ir. Bart Kindt BV (director)
- Director reappointment, Optima-Beli BV (director)
- Director reappointment, EVDB invest BV (managing director)
- Other provision, “publication reference number”, 26064929 (deed in Dutch)
About the unread acts
Of the 16 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
2 establishment units
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31022I0695/00C000 | Flanders | 2.7 ha | 1 · 3,207 m² | 25.7 m · 5 |
| 11027B0087/00N000 | Flanders | 1.3 ha | 1 · 5,445 m² | 10.5 m · 2 |