MINDFLOW
ActiveSummary
MINDFLOW has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €15k and a net result of €-13k. Equity is growing by ~51.4% per year across the filed fiscal years. Its solvency ranks better than 25% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency52▼-9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.22 against 1.62 in 2023; short-term debt: 72.6% and cash: 27.9% of total assets), and 72.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
27.4%
Return on assets
-23.7%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-10-2025, 69 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
69 d late
2023
71 d late
2022
60 d late
2021
31 d late
2020
2 d early
2019
91 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€15k▼ 46.3%
2023 · €28k
Total assets
€55k▼ 28.9%
2023 · €77k
Net result
€-13k
2023 · €46k
Working capital
€9k▼ 65.0%
2023 · €26k
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
Line20202021202220232024
Operating result€91k€23k▼ 74.8%€35k▲ 52.8%€62k▲ 76.4%€-12k
Net result€86k€20k▼ 77.2%€32k▲ 63.9%€46k▲ 43.9%€-13k
Equity€-70k▲ 55.1%€-50k▲ 28.0%€-18k▲ 63.9%€28k€15k▼ 46.3%
Total assets€51k▲ 183%€54k▲ 5.0%€67k▲ 24.1%€77k▲ 15.9%€55k▼ 28.9%
Debt€121k▼ 30.4%€104k▼ 14.1%€85k▼ 18.4%€49k▼ 42.0%€40k▼ 18.9%
Working capital€21k€6k▼ 69.5%€13k▲ 108%€26k▲ 95.7%€9k▼ 65.0%
Staff (FTE)10.9▼ 10.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €12k after €62k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €55k
Fixed assets
€6k ▼ 39.4%
Current assets
€49k ▼ 27.3%
Equity and liabilities €55k
Equity
€15k ▼ 46.3%
Debt
€40k ▼ 18.9%
Debt's share of the balance-sheet total rises from 63.7% to 72.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-8k▼
2023 · €67k
Cash flow
€-9k▼
2023 · €52k
Current ratio
1.22▼
2023 · 1.62
Debt to equity
2.65▲
2023 · 1.75
ROE
-86.3%▼
2023 · 164.8%
ROA
-23.7%▼
2023 · 59.9%
Interest coverage
-29.60▼
2023 · 55.78
Debt ≤ 1 year
€40k▼
2023 · €42k
Income taxes
€301▼
2023 · €14k
Staff costs
€23k▲
2023 · €19k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6k | €3k | - | - |
| Remuneration, social security and pensions62 | - | - | - | €19k | €23k | ▲ 21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | €5k | €4k | ▼ 26.7% |
| Other operating charges640/8 | - | €1k | €1k | €400 | €667 | ▲ 66.8% |
| Non-recurring operating charges66A | - | - | €461 | - | - | - |
| Gross operating margin9900 | €100k | €32k | €44k | €87k | €15k | ▼ 82.4% |
| Operating profit (loss)9901 | €91k | €23k | €35k | €62k | €-12k | ▼ 120% |
| Financial income75/76B | - | - | €15 | - | €35 | - |
| Recurring financial income75 | €33 | - | €15 | - | €35 | - |
| Financial charges65/66B | - | €3k | €3k | €1k | €287 | ▼ 76.2% |
| Recurring financial charges65 | €4k | €3k | €3k | €1k | €287 | ▼ 76.2% |
| Profit (loss) for the period before taxes9903 | €86k | €20k | €33k | €61k | €-13k | ▼ 121% |
| Income taxes67/77 | €270 | €286 | €319 | €14k | €301 | ▼ 97.9% |
| Profit (loss) for the period9904 | €86k | €20k | €32k | €46k | €-13k | ▼ 128% |
| Profit (loss) for the period to be appropriated9905 | €86k | €20k | €32k | €46k | €-13k | ▼ 128% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €51k | €54k | €67k | €77k | €55k | ▼ 28.9% |
| Fixed assets21/28 | €18k | €19k | €19k | €10k | €6k | ▼ 39.4% |
| Tangible fixed assets22/27 | €18k | €15k | €15k | €9k | €5k | ▼ 45.6% |
| Plant, machinery and equipment23 | - | €8k | €8k | €6k | €3k | ▼ 41.9% |
| Furniture and vehicles24 | - | €8k | €7k | €3k | €1k | ▼ 52.4% |
| Financial fixed assets28 | - | €4k | €4k | €1k | €1k | = |
| Current assets29/58 | €33k | €35k | €48k | €67k | €49k | ▼ 27.3% |
| Amounts receivable within one year40/41 | €27k | €26k | €25k | €38k | €34k | ▼ 12.4% |
| Trade receivables40 | - | €26k | €25k | €38k | €34k | ▼ 12.4% |
| Other amounts receivable41 | - | €114 | €114 | - | - | - |
| Cash at bank and in hand54/58 | €6k | €9k | €23k | €29k | €15k | ▼ 47.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €51k | €54k | €67k | €77k | €55k | ▼ 28.9% |
| Equity10/15 | €-70k | €-50k | €-18k | €28k | €15k | ▼ 46.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €48k | €48k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | - | - | €46k | €46k | = |
| Profit (loss) carried forward14 | €-91k | €-71k | €-39k | €-38k | €-51k | ▼ 34.0% |
| Amounts payable17/49 | €121k | €104k | €85k | €49k | €40k | ▼ 18.9% |
| Amounts payable after more than one year17 | €109k | €76k | €50k | €7k | - | - |
| Other amounts payable178/9 | - | €76k | €50k | €7k | - | - |
| Amounts payable within one year42/48 | €12k | €28k | €35k | €42k | €40k | ▼ 4.1% |
| Trade debts44 | €4k | €9k | €8k | €12k | €24k | ▲ 96.9% |
| Suppliers440/4 | - | €9k | €8k | €12k | €24k | ▲ 96.9% |
| Taxes, remuneration and social security45 | - | €18k | €21k | €24k | €15k | ▼ 35.5% |
| Taxes450/3 | - | €11k | €21k | €23k | €15k | ▼ 33.9% |
| Remuneration and social security454/9 | - | €7k | - | €946 | €245 | ▼ 74.1% |
| Other amounts payable47/48 | - | €2k | €6k | €6k | €332 | ▼ 94.0% |
| Accrued charges and deferred income492/3 | - | - | €294 | €294 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86k | €20k | €32k | €46k | €-13k | ▼ 128% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | €5k | €4k | ▼ 26.7% |
| Operating cash flow (approximation) | €94k | €27k | €39k | €52k | €-9k | ▼ 117% |
| Investment in fixed assets (approximation) | - | €-8k | €-7k | €3k | €0 | ▼ 100% |
| Change in cash | - | €3k | €14k | €6k | €-14k | ▼ 331% |
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
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
2024
10-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 71 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €86k
Net result €86k after 2 loss-making years.
31-12
Financial
Liquidity times 17current ratio 2.66
Current ratio from 0.16 to 2.66; short-term debt falls from €54k to €12k.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet €-48k
Net result drops to €-48k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Zaventem · 2 establishment units since 2012
Ground area
9,787 m²
Building footprint
1,880 m²
Volume, LiDAR
13,918 m³
2 parcels, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Mindflow
since 20122.207.541.638
Mindflow
since 20232.340.763.715
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23057B0004/00K000 | Flanders | 9,293 m² | 1 · 1,756 m² | 9.7 m · 2 fl. |
| 23772C0218/00P000 | Flanders | 494 m² | 1 · 125 m² | 12.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,103 EUR awarded · 1,103 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,103 EUR | 1,103 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 27,533 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded24-02-2012
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82990Other business support services
Contact
E-mail
chris@mindflow.beZaventem
Scores and ratios are computed by Checked and are not a credit decision.