SQUAREFLOW
ActiveSummary
SQUAREFLOW has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €237,238 and a net result of €118,258. Equity is growing by ~27.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 1453 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+2
Solvency45▲+38
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity tight (current ratio 1.18 against 0.89 in 2024; short-term debt: 79.3% and cash: 2.9% of total assets), and 80% of the assets are financed with debt.
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Signals
Seven 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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
20%
Return on assets
10%
Age of the figures
9 mo
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 23-04-2026, 99 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
99 d early
2024
48 d early
2023
8 d early
2022
3 d early
2021
11 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 9 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. Usually files around 24 July (4 of the last 5 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?MOORE BELGIUM GROUP, AFGEKORT : MBG · 33 companies
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€118,258▲ 82.5%
2024 · €64,792
Working capital
€171,192
2024 · -€69,806
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€66,725--€233,779▼ 250%€39,998€84,851▲ 112%€190,339▲ 124%
Net result-€67,092below the sector's middle half--€239,771below the sector's middle half▼ 257%€29,050within the sector's middle half€64,792within the sector's middle half▲ 123%€118,258within the sector's middle half▲ 82.5%
Equity€32,908below the sector's middle half--€206,862below the sector's middle half-€177,813below the sector's middle half▲ 14.0%-€113,021below the sector's middle half▲ 36.4%€237,238within the sector's middle half
Total assets€113,050below the sector's middle half-€210,360within the sector's middle half▲ 86.1%€336,208within the sector's middle half▲ 59.8%€615,330within the sector's middle half▲ 83.0%€1.2mwithin the sector's middle half▲ 92.7%
Debt€80,142-€417,222▲ 421%€514,020▲ 23.2%€728,350▲ 41.7%€948,325▲ 30.2%
Working capital€31,670within the sector's middle half--€231,220below the sector's middle half-€202,103below the sector's middle half▲ 12.6%-€69,806below the sector's middle half▲ 65.5%€171,192within the sector's middle half
Solvency29.1%within the sector's middle half--98.3%below the sector's middle half▼ 127.4pp-52.9%below the sector's middle half▲ 45.4pp-18.4%below the sector's middle half▲ 34.5pp20.0%within the sector's middle half▲ 38.4pp
Current ratio1.64within the sector's middle half-0.44below the sector's middle half▼ 1.200.61below the sector's middle half▲ 0.170.89below the sector's middle half▲ 0.281.18within the sector's middle half▲ 0.29
Return on assets (ROA)-59.3%below the sector's middle half--114.0%below the sector's middle half▼ 54.6pp8.6%within the sector's middle half▲ 122.6pp10.5%within the sector's middle half▲ 1.9pp10.0%within the sector's middle half▼ 0.6pp
Staff (FTE)1.1below the sector's middle half-5within the sector's middle half▲ 355%8.4within the sector's middle half▲ 68.0%16.3within the sector's middle half▲ 94.0%22.9within the sector's middle half▲ 40.5%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 124% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€74,751 ▲ 32.1%
Current assets
€1.1m ▲ 98.8%
Equity and liabilities €1.2m
Equity
€237,238
Debt
€948,325
Debt finances 80.0% of the balance-sheet total.
Key figures and ratios
EBITDA
€210,913▲
2024 · €104,024
Cash flow
€138,833▲
2024 · €83,965
Quick ratio
1.07▲
2024 · 0.89
Debt to equity
4.00▲
2024 · -6.44
ROE
49.8%
Interest coverage
7.93▲
2024 · 5.62
Debt ≤ 1 year
€939,619▲
2024 · €628,538
Debt > 1 year
€8,706▼
2024 · €18,769
Income taxes
€46,971▲
2024 · €2,398
Staff costs
€1.7m▲
2024 · €988,727
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,679 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,662 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% | 1.7% |
| 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 75% 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 2,679 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €6,006 | €1,072 | €0 | €1,757 | - |
| Remuneration, social security and pensions62 | €56,563 | €288,544 | €505,931 | €988,727 | €1.7m | ▲ 72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,209 | €18,256 | €21,033 | €19,173 | €20,575 | ▲ 7.3% |
| Other operating charges640/8 | €775 | €1,847 | €10,894 | €33,650 | €485 | ▼ 98.6% |
| Non-recurring operating charges66A | €532 | €0 | €285 | €0 | €6,619 | - |
| Gross operating margin9900 | -€4,647 | €74,868 | €578,141 | €1.1m | €1.9m | ▲ 70.7% |
| Operating profit (loss)9901 | -€66,725 | -€233,779 | €39,998 | €84,851 | €190,339 | ▲ 124% |
| Financial income75/76B | - | €418 | €445 | €832 | €1,496 | ▲ 79.9% |
| Recurring financial income75 | - | €418 | €445 | €832 | €1,496 | ▲ 79.9% |
| Financial charges65/66B | €175 | €5,539 | €9,906 | €18,493 | €26,605 | ▲ 43.9% |
| Recurring financial charges65 | €175 | €5,539 | €9,906 | €18,493 | €26,605 | ▲ 43.9% |
| Profit (loss) for the period before taxes9903 | -€66,900 | -€238,900 | €30,538 | €67,190 | €165,229 | ▲ 146% |
| Income taxes67/77 | €191 | €871 | €1,488 | €2,398 | €46,971 | ▲ 1,859% |
| Profit (loss) for the period9904 | -€67,092 | -€239,771 | €29,050 | €64,792 | €118,258 | ▲ 82.5% |
| Profit (loss) for the period to be appropriated9905 | -€67,092 | -€239,771 | €29,050 | €64,792 | €118,258 | ▲ 82.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,050 | €210,360 | €336,208 | €615,330 | €1.2m | ▲ 92.7% |
| Fixed assets21/28 | €31,832 | €32,235 | €26,171 | €56,598 | €74,751 | ▲ 32.1% |
| Intangible fixed assets21 | €26,273 | €16,413 | €6,574 | €0 | - | - |
| Tangible fixed assets22/27 | €5,510 | €13,947 | €17,722 | €42,723 | €60,876 | ▲ 42.5% |
| Furniture and vehicles24 | €5,510 | €13,628 | €17,516 | €42,623 | €60,876 | ▲ 42.8% |
| Other tangible fixed assets26 | - | €319 | €206 | €100 | €0 | ▼ 100% |
| Financial fixed assets28 | €50 | €1,875 | €1,875 | €13,875 | €13,875 | = |
| Current assets29/58 | €81,218 | €178,125 | €310,037 | €558,732 | €1.1m | ▲ 98.8% |
| Stocks and contracts in progress3 | - | - | - | - | €108,000 | - |
| Contracts in progress37 | - | - | - | - | €108,000 | - |
| Amounts receivable within one year40/41 | €52,975 | €164,803 | €282,535 | €496,103 | €910,826 | ▲ 83.6% |
| Trade receivables40 | €29,648 | €160,022 | €280,682 | €466,103 | €870,795 | ▲ 86.8% |
| Other amounts receivable41 | €23,327 | €4,781 | €1,852 | €30,000 | €40,031 | ▲ 33.4% |
| Cash at bank and in hand54/58 | €23,383 | €8,361 | €20,766 | €36,307 | €34,124 | ▼ 6.0% |
| Deferred charges and accrued income490/1 | €4,860 | €4,962 | €6,736 | €26,323 | €57,861 | ▲ 120% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,050 | €210,360 | €336,208 | €615,330 | €1.2m | ▲ 92.7% |
| Equity10/15 | €32,908 | -€206,862 | -€177,813 | -€113,021 | €237,238 | ▲ 310% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €332,000 | ▲ 232% |
| Capital10 | €100,000 | €100,000 | €100,000 | €100,000 | €332,000 | ▲ 232% |
| Issued capital100 | €100,000 | €100,000 | €100,000 | €100,000 | €332,000 | ▲ 232% |
| Profit (loss) carried forward14 | -€67,092 | -€306,862 | -€277,813 | -€213,021 | -€94,762 | ▲ 55.5% |
| Amounts payable17/49 | €80,142 | €417,222 | €514,020 | €728,350 | €948,325 | ▲ 30.2% |
| Amounts payable after more than one year17 | €30,015 | €3,907 | €1,880 | €18,769 | €8,706 | ▼ 53.6% |
| Financial debts170/4 | - | €3,907 | €1,880 | €18,769 | €8,706 | ▼ 53.6% |
| Other amounts payable178/9 | €30,015 | - | - | - | - | - |
| Amounts payable within one year42/48 | €49,548 | €409,345 | €512,140 | €628,538 | €939,619 | ▲ 49.5% |
| Current portion of amounts payable after more than one year42 | - | €2,002 | €1,876 | €9,660 | €10,063 | ▲ 4.2% |
| Financial debts43 | €2,052 | €203 | €48,000 | €0 | €28 | - |
| Credit institutions430/8 | €2,052 | €203 | €0 | - | €28 | - |
| Other loans439 | - | - | €48,000 | €0 | - | - |
| Trade debts44 | €32,851 | €172,581 | €196,401 | €236,507 | €447,620 | ▲ 89.3% |
| Suppliers440/4 | €32,851 | €172,581 | €196,401 | €236,507 | €447,620 | ▲ 89.3% |
| Taxes, remuneration and social security45 | €14,644 | €47,782 | €75,103 | €188,839 | €324,206 | ▲ 71.7% |
| Taxes450/3 | €3,324 | €15,712 | €22,666 | €77,743 | €97,884 | ▲ 25.9% |
| Remuneration and social security454/9 | €11,320 | €32,070 | €52,436 | €111,096 | €226,321 | ▲ 104% |
| Other amounts payable47/48 | - | €186,777 | €190,761 | €193,533 | €157,703 | ▼ 18.5% |
| Accrued charges and deferred income492/3 | €579 | €3,970 | €0 | €81,043 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€67,092 | -€239,771 | €29,050 | €64,792 | €118,258 | ▲ 82.5% |
| + Depreciation and write-downs630 | €4,209 | €18,256 | €21,033 | €19,173 | €20,575 | ▲ 7.3% |
| Operating cash flow (approximation) | -€62,883 | -€221,515 | €50,083 | €83,965 | €138,833 | ▲ 65.3% |
| Investment in fixed assets (approximation) | - | -€18,658 | -€14,969 | -€49,600 | -€38,728 | ▲ 21.9% |
| Change in cash | - | -€15,022 | €12,406 | €15,540 | -€2,183 | ▼ 114% |
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
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2021net €118,258 ▲82.5%
Operating result €190,339, net result €118,258, both a record.
31-12
Financial
Equity above €200,000Eq €237,238
3 profitable years in a row build equity to €237,238.
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €29,050
Net result €29,050 after 2 loss-making years.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€239,771
Net result drops to -€239,771, the lowest in the series; recovery starts the following year.
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Sint-Lambrechts-Woluwe · 3 establishment units since 2020
Ground area
1.2 ha
Building footprint
5,217 m²
Volume, LiDAR
99,864 m³
3 parcels, Brussels, Wallonia · tallest building 27.7 m, ±8 floors. Linked by address, not a title deed.
23
companies at this address
See who is registered here
3 establishment units
SQUAREFLOW
since 20202.310.116.762
Squareflow
since 20202.318.947.623
Squareflow
since 20232.345.986.075
3 parcels
Wallonia
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 fl. |
| 21018A0151/00S000 | Brussels | 4,169 m² | 1 · 2,549 m² | 27.7 m · 8 fl. |
| 25772H0095/00B004 | Wallonia | 2,784 m² | 1 · 249 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Part of the group
MOORE BELGIUM GROUP, AFGEKORT : MBG
33 companies
Group, risk and exposure
Owners and holdings
2 owners · 1 holdingChain of control
- MOORE BELGIUM GROUP, AFGEKORT : MBG
- Moore Belgium
- Moore Strategy & Operations
- DNA33 SERVICES
- SQUAREFLOW
Highest known parent: MOORE BELGIUM GROUP, AFGEKORT : MBG. The sources do not say who stands above it.
Owners 2
- DNA33 SERVICESparent100%
- Sourceaccounts ALroads 202436%
Holdings 1
- Squareflow Luxembourg SàrlLUsubsidiarySourceown accounts 2025100%
According to the 2025 annual accounts of SQUAREFLOW and those of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
875500YADIHXRO3JY080
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,400. 14,320 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
62900Other information technology and computer services
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
63910Web portal activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0758577612
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.