SIMUFLOW
ActiveSummary
SIMUFLOW has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19,760 and a net result of €7,320. Equity is growing by ~28.2% per year across the filed fiscal years. Its solvency ranks better than 19% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-24
Solvency41▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.03 in 2024; short-term debt: 66.6% and cash: 82.2% of total assets), and 84.2% of the assets are financed with debt.
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Signals
Six 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
15.8%
Return on assets
5.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 9537 sector peers (2025).
NBB · sector comparisonPosition among 9537 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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
37 d early
2023
43 d early
2022
33 d early
2021
29 d late
2020
2 d late
2019
89 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€19,760▲ 58.8%
2024 · €12,440
Total assets
€125,354▲ 1.6%
2024 · €123,352
Net result
€7,320▼ 82.2%
2024 · €41,038
Working capital
€36,128▲ 1,149%
2024 · €2,894
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
Line20212022202320242025
Operating result-€974-€7,604▼ 681%€4,465€59,418▲ 1,231%€13,962▼ 76.5%
Net result-€2,081-€7,994▼ 284%€1,222€41,038▲ 3,257%€7,320▼ 82.2%
Equity-€21,826▼ 10.5%-€29,820▼ 36.6%-€28,598▲ 4.1%€12,440€19,760▲ 58.8%
Total assets€28,657▲ 25.4%€61,606▲ 115%€61,138▼ 0.8%€123,352▲ 102%€125,354▲ 1.6%
Debt€50,484▲ 18.5%€91,426▲ 81.1%€89,736▼ 1.8%€110,912▲ 23.6%€105,594▼ 4.8%
Working capital-€28,761▼ 25.3%-€56,218▼ 95.5%-€59,150▼ 5.2%€2,894€36,128▲ 1,149%
Staff (FTE)1▲ 100%1=1=1.5▲ 50.0%1.3▼ 13.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 77% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125,354
Fixed assets
€5,738 ▼ 48.1%
Current assets
€119,616 ▲ 6.5%
Equity and liabilities €125,354
Equity
€19,760 ▲ 58.8%
Debt
€105,594 ▼ 4.8%
Debt's share of the balance-sheet total falls from 89.9% to 84.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,774▼
2024 · €74,137
Cash flow
€13,132▼
2024 · €55,757
Current ratio
1.43▲
2024 · 1.03
Quick ratio
1.36▲
2024 · 0.97
Debt to equity
5.34▼
2024 · 8.92
ROE
37.0%▼
2024 · 329.9%
ROA
5.8%▼
2024 · 33.3%
Interest coverage
6.98▼
2024 · 21.49
Debt ≤ 1 year
€83,488▼
2024 · €109,407
Income taxes
€3,822▼
2024 · €14,968
Staff costs
€41,156▲
2024 · €28,855
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,811 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,811 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €28,084 | €24,935 | €23,598 | €28,855 | €41,156 | ▲ 42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,235 | €11,896 | €14,136 | €14,719 | €5,812 | ▼ 60.5% |
| Other operating charges640/8 | €528 | €650 | €689 | €782 | €13,882 | ▲ 1,676% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €31,873 | €29,878 | €42,888 | €103,774 | €74,812 | ▼ 27.9% |
| Operating profit (loss)9901 | -€974 | -€7,604 | €4,465 | €59,418 | €13,962 | ▼ 76.5% |
| Financial income75/76B | €10 | €18 | €9 | €38 | €13 | ▼ 66.3% |
| Recurring financial income75 | €10 | €18 | €9 | €38 | €13 | ▼ 66.3% |
| Financial charges65/66B | €1,006 | €408 | €2,101 | €3,450 | €2,833 | ▼ 17.9% |
| Recurring financial charges65 | €1,006 | €408 | €2,101 | €3,450 | €2,833 | ▼ 17.9% |
| Profit (loss) for the period before taxes9903 | -€1,969 | -€7,994 | €2,372 | €56,005 | €11,142 | ▼ 80.1% |
| Income taxes67/77 | €111 | - | €1,150 | €14,968 | €3,822 | ▼ 74.5% |
| Profit (loss) for the period9904 | -€2,081 | -€7,994 | €1,222 | €41,038 | €7,320 | ▼ 82.2% |
| Profit (loss) for the period to be appropriated9905 | -€2,081 | -€7,994 | €1,222 | €41,038 | €7,320 | ▼ 82.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28,657 | €61,606 | €61,138 | €123,352 | €125,354 | ▲ 1.6% |
| Fixed assets21/28 | €9,592 | €26,398 | €32,369 | €11,051 | €5,738 | ▼ 48.1% |
| Intangible fixed assets21 | - | €13,414 | €7,064 | €715 | - | - |
| Tangible fixed assets22/27 | €9,502 | €12,894 | €25,215 | €10,246 | €5,648 | ▼ 44.9% |
| Plant, machinery and equipment23 | €687 | €249 | - | €654 | €516 | ▼ 21.1% |
| Furniture and vehicles24 | €8,555 | €12,644 | €25,215 | €9,592 | €5,132 | ▼ 46.5% |
| Other tangible fixed assets26 | €260 | - | - | - | - | - |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €19,066 | €35,208 | €28,769 | €112,301 | €119,616 | ▲ 6.5% |
| Stocks and contracts in progress3 | - | €11,030 | €7,400 | €5,920 | €5,920 | = |
| Stocks30/36 | - | €11,030 | €7,400 | €5,920 | €5,920 | = |
| Amounts receivable within one year40/41 | €3,988 | €3,003 | €2,436 | €6,822 | €6,964 | ▲ 2.1% |
| Trade receivables40 | €636 | €1,189 | €191 | €4,438 | €1,052 | ▼ 76.3% |
| Other amounts receivable41 | €3,352 | €1,814 | €2,246 | €2,384 | €5,912 | ▲ 148% |
| Cash at bank and in hand54/58 | €12,130 | €17,442 | €15,319 | €93,020 | €103,052 | ▲ 10.8% |
| Deferred charges and accrued income490/1 | €2,948 | €3,734 | €3,614 | €6,539 | €3,681 | ▼ 43.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28,657 | €61,606 | €61,138 | €123,352 | €125,354 | ▲ 1.6% |
| Equity10/15 | -€21,826 | -€29,820 | -€28,598 | €12,440 | €19,760 | ▲ 58.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €620 | €620 | €620 | €620 | €620 | = |
| Non-distributable reserves130/1 | €620 | €620 | - | - | - | - |
| Reserves not available under the articles1311 | €620 | €620 | - | - | - | - |
| Distributable reserves133 | - | - | €620 | €620 | €620 | = |
| Profit (loss) carried forward14 | -€41,038 | -€49,032 | -€47,809 | -€6,772 | €548 | ▲ 108% |
| Amounts payable17/49 | €50,484 | €91,426 | €89,736 | €110,912 | €105,594 | ▼ 4.8% |
| Amounts payable within one year42/48 | €47,826 | €91,426 | €87,920 | €109,407 | €83,488 | ▼ 23.7% |
| Trade debts44 | €23,241 | €1,384 | €10,377 | €42,335 | €24,708 | ▼ 41.6% |
| Suppliers440/4 | €23,241 | €1,384 | €10,377 | €42,335 | €24,708 | ▼ 41.6% |
| Advances received on contracts in progress46 | - | - | €11,182 | €6,250 | €600 | ▼ 90.4% |
| Taxes, remuneration and social security45 | €5,748 | €4,868 | €2,243 | €4,081 | €3,549 | ▼ 13.0% |
| Taxes450/3 | €2,908 | €2,381 | - | €1,766 | - | - |
| Remuneration and social security454/9 | €2,840 | €2,486 | €2,243 | €2,315 | €3,549 | ▲ 53.3% |
| Other amounts payable47/48 | €18,838 | €85,174 | €64,118 | €56,741 | €54,631 | ▼ 3.7% |
| Accrued charges and deferred income492/3 | €2,657 | - | €1,816 | €1,505 | €22,106 | ▲ 1,369% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,081 | -€7,994 | €1,222 | €41,038 | €7,320 | ▼ 82.2% |
| + Depreciation and write-downs630 | €4,235 | €11,896 | €14,136 | €14,719 | €5,812 | ▼ 60.5% |
| Operating cash flow (approximation) | €2,155 | €3,903 | €15,359 | €55,757 | €13,132 | ▼ 76.4% |
| Investment in fixed assets (approximation) | - | -€28,702 | -€20,108 | €6,599 | -€498 | ▼ 108% |
| Change in cash | - | €5,312 | -€2,123 | €77,701 | €10,032 | ▼ 87.1% |
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
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Resignation: Fabrice MISSAIRE (manager)Appointment: Isabelle FLORANI (manager)3 facts ▸
State Gazette act
Resignation: Fabrice MISSAIRE (manager)
Appointment: Isabelle FLORANI (manager)3 facts ▸
- General meeting, 30-03-2026
- Director resignation, Fabrice MISSAIRE (manager)
- Director appointment, Isabelle FLORANI (manager)
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €41,038 ▲3,257%
Operating result €59,418, net result €41,038, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.03
Current ratio from 0.33 to 1.03.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €1,222
Net result €1,222 after 2 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€7,994
Net result drops to -€7,994, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €5,261
Net result €5,261 after one loss-making year.
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 70 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Isabelle FLORANI
CurrentManager · since 31-03-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 1998
Ground area
870 m²
Building footprint
145 m²
Volume, LiDAR
929 m³
Parcel 25054A0021/00Z000, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue des Badauds 19, 1428 Braine-l'Alleud
since 19982.086.867.106
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25054A0021/00Z000 | Wallonia | 870 m² | 1 · 145 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Isabelle FLORANI |
|
| Fabrice MISSAIRE |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 3,976 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
Founded17-03-1998
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462910427
Also
9925:BE0462910427
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.