Equity
€690,650 from €1.5m in 2023
Equity fell by 53% in 2 years.
LOGFLOW
Lifetime
15 annual accounts with figures on one time axispeak €3.8m (2023)
€3.2munchanged
lowest -€550,092 (2024)
-€224,553▲ €325,539
peak €1.5m (2023)
€690,650▼ 24.5%
€8.5m▼ 4.9%
peak 37 FTE (2021)
25.9 FTE▼ 9.4%
Board5 names since 2009
3 directorsEVDB Invest and 2 others
Owners5 names in the annual accounts
20%Ir. Bart Kindt and 1 other
Documentsfilings and deeds
31-03-2026122 days before the deadline
2025abbreviated format
Turnover from €5.7m to €6.6mLoss of €224,553Staff from 28.6 FTE to 25.9 FTEEquity from €915,202 to €690,650
Key points
from the 2025 annual accountsLosses
-€774,645 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€8.5m 92% of the balance sheet
Financial debts 78%Suppliers 12%Taxes and wages 3%Other 6%
€5.6m of the debts are secured on the company's own assets. In 2021 that was €6.2m.
Staff
25.9 FTE from 37 in 2021
Between 2021 and 2025, 30% of the full-time equivalents disappeared.
Filings
15 annual accounts since 2010
The last five annual accounts were filed 31 to 122 days before the end of the period.
Position in the sector
-€224,553
Lower net result than 95% of companies in office administrative support. Sector median €20,974 · 2,826 companies.
Checked score
67
Healthy
Financially stronger than 33% of small companies in office administrative support (NACE 82)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,123 companies (NACE 82, small).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.6%▼ -0.1 percentage points vs 01-2025lowest value
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.7%▲ +0.1 percentage points vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025
08-2025: 0.9%▲ +0.1 percentage points vs 07-2025
09-2025: 0.9%● unchanged vs 08-2025
10-2025: 0.9%● unchanged vs 09-2025
11-2025: 0.9%● unchanged vs 10-2025
12-2025: 0.9%● unchanged vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 0.9%● unchanged vs 03-2026highest value
05-2026: 0.8%▼ -0.1 percentage points vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 0.8%● unchanged vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.78, cash €179,238
Equity €690,650 (7.5% of total assets)
Size: turnover €6.6m, 25.9 FTE, total assets €9.2m
Loss of €224,553, the second in a row (financial year 2025)
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 82, small). It does better than 14% of them on solvency, 35% on liquidity, 38% on profitability and 44% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 912 companies had the same profile as LOGFLOW has now. Each dot stands for 3 companies, two years later.
95.3%
were still trading
2.1%
stopped another way
2.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LOGFLOW itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,447 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 912 companies, not a prediction for LOGFLOW. 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.
Credit verdict
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.78 (0.91 in 2024), below 1. Short-term debt is 22.1% and cash 1.9% of total assets. 92.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
raises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€224,553
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 2824 sector peers (2025).
NBB · sector comparisonPosition among 2824 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-03-2026, 122 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
122 days early
2024
31 days early
2023
85 days early
2022
81 days early
2021
67 days early
2020
46 days early
2019
12 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 63 days before the deadline. In the sector (NACE 82), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 May (4 of the last 5 accounts filed within 41 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Eric Vandenbussche 57.5%annual accounts 2020
- Ir. Bart Kindt 20%score 92equity €380,713 (2025) · 2025 annual accounts of Ir. Bart Kindt
- Bart Kindt 15%annual accounts 2020
Recent changes
3 directors reappointed
EVDB invest BV (managing director), Ir. Bart Kindt BV and Optima-Beli BV · General meeting of 27-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0819924568
1 director appointed, 1 resignation
Resignation: Aquinas BV · Permanent representatives: Van Landeghem Thomas and Sepot Sylvie · Appointment: Optima-Beli BV · General meeting of 10-02-2022 · Gazette deed
Registered office moved from Loppem to Oostkamp
New registered office: Kapellestraat 136 Blok E, 8020 Oostkamp · Previous registered office: Heidelbergstraat 18 bus A003, 8210 Loppem · General meeting of 11-02-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| LOGFLOW Oostkamp | €6.6m | 0.3% | 7.5% | 25.9 |
| American Chamber of Commerce to the European Union Brussels | - | - | 17.2% | 27.1 |
| HAZGO Machelen (Brab.) | €14.2m | 19.2% | 8.4% | 31.7 |
| MAARTEN CONSTRUCT Sint-Gillis-Waas | - | - | 21.1% | 15 |
| Associated Beverage Solutions Courcelles | - | - | 68.7% | 26.4 |
| Embuild West-Vlaanderen Kortrijk | - | - | 82.2% | 17.7 |
| R.W.M. Bruges | €5.4m | 1.3% | 42.7% | 34.6 |
Grey: the largest companies of the sector (office administrative support (NACE 82)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as LOGFLOW: other business support services (NACE 82990). They are comparable in size and age: total assets between €6.4m and €16m, founded between 2002 and 2015.
Official details
Source: KBO- Status
- Active since 16-10-2009Normal situation
- Activity
- Other business support servicesNACE 82990and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.182.994.1068020 Oostkamp, since 16-10-2009
- 2.257.092.0102240 Zandhoven, since 01-10-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 01-12-2025
Annual accounts 2025
- €9.2m▼ 6.7%
- Employeeson 31-12-2025
- 26▼ 7.1%
- Filing
- Filed on 31-03-2026, 122 days before the end of the filing period
Insights on LOGFLOW
LOGFLOW files the abbreviated format. That format states no turnover. The gross margin rose from €136,258 in 2010 to €3.2m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about LOGFLOW
- What is the company number of LOGFLOW?
- The company number of LOGFLOW is 0819.924.568. The VAT number is the same number with BE in front: BE 0819.924.568.
- Where is LOGFLOW based?
- The registered office is at Kapellestraat 136, 8020 Oostkamp.Company details
- What does LOGFLOW do?
- According to the KBO register, the main activity is other business support services (NACE 82990).
- What is the legal form of LOGFLOW?
- LOGFLOW is a public limited company (NV).
- When was LOGFLOW founded?
- LOGFLOW was founded on 16-10-2009.
- Is LOGFLOW still active?
- Yes, LOGFLOW is an active enterprise in the KBO register.
- How many employees does LOGFLOW have?
- LOGFLOW had an average of 25.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does LOGFLOW fall under?
- In its 2025 annual accounts, LOGFLOW states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of LOGFLOW?
- The turnover of LOGFLOW was €6.6m in financial year 2025, according to the filed annual accounts.
- Is LOGFLOW profitable?
- In financial year 2025, LOGFLOW made a loss of €224,553.
- Where can I find the annual accounts of LOGFLOW?
- LOGFLOW filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of LOGFLOW due?
- LOGFLOW must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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