SQUAREFLOW
ActiveSummary
SQUAREFLOW has been active since 2020 and the Belgian Official 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 about 28% per year across the filed financial years. Its solvency ranks better than 33% of 1,675 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Staff
- 22.9 FTE
- Equity
- €237,238
- Profit
- €118,258
- Parent
- DNA33 SERVICES · 100%
- Board
- 6 members
- Holdings
- 1
Why 85raises riskLiquidity: current ratio 1.18, cash €34,124Size: 22.9 FTE, total assets €1.2mlowers riskSector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2025 (filed 24-04-2026)Show the evidence
Checked score
About 4 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 62, small): better than 28% on solvency, 7% on liquidity, 74% on profitability and 97% on growth.
The bankruptcy probability was computed on 22-10-2026 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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Signals
This company filed its last 5 accounts on average 29 days before the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Reappointment: Srl Luc Callaert (statutory auditor)Resignations: ALroads SRL, Christophe Haulet…
- Highest result from 2021 to 2025net €118,258 ▲82.5%
Financials · financial year 2025, full format
2021 to 2025, 5 financial years
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.
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 62, Computer programming, consultancy and related 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).
- 2025 Total assets +93% on 2024. Capital increase of €232,000 (Official Gazette 29-12-2025).
Peer companies
Historical observationOf the 2,684 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97.3% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,473 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% | 1.0% |
| 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 2,684 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0.006m | €0.001m | €0 | €0.002m | - |
| Remuneration, social security and pensions62 | €0.06m | €0.3m | €0.5m | €1.0m | €1.7m | ▲ 72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.004m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 7.3% |
| Other operating charges640/8 | €0.001m | €0.002m | €0.01m | €0.03m | €485 | ▼ 98.6% |
| Non-recurring operating charges66A | €0.001m | €0 | €285 | €0 | €0.007m | - |
| Gross operating margin9900 | -€0.005m | €0.07m | €0.6m | €1.1m | €1.9m | ▲ 70.7% |
| Operating profit (loss)9901 | -€0.07m | -€0.2m | €0.04m | €0.08m | €0.2m | ▲ 124% |
| Financial income75/76B | - | €418 | €445 | €0.001m | €0.001m | ▲ 79.9% |
| Recurring financial income75 | - | €418 | €445 | €0.001m | €0.001m | ▲ 79.9% |
| Financial charges65/66B | €175 | €0.006m | €0.01m | €0.02m | €0.03m | ▲ 43.9% |
| Recurring financial charges65 | €175 | €0.006m | €0.01m | €0.02m | €0.03m | ▲ 43.9% |
| Profit (loss) for the period before taxes9903 | -€0.07m | -€0.2m | €0.03m | €0.07m | €0.2m | ▲ 146% |
| Income taxes67/77 | €191 | €0.001m | €0.001m | €0.002m | €0.05m | ▲ 1,859% |
| Profit (loss) for the period9904 | -€0.07m | -€0.2m | €0.03m | €0.06m | €0.1m | ▲ 82.5% |
| Profit (loss) for the period to be appropriated9905 | -€0.07m | -€0.2m | €0.03m | €0.06m | €0.1m | ▲ 82.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.1m | €0.2m | €0.3m | €0.6m | €1.2m | ▲ 92.7% |
| Fixed assets21/28 | €0.03m | €0.03m | €0.03m | €0.06m | €0.07m | ▲ 32.1% |
| Intangible fixed assets21 | €0.03m | €0.02m | €0.007m | €0 | - | - |
| Tangible fixed assets22/27 | €0.006m | €0.01m | €0.02m | €0.04m | €0.06m | ▲ 42.5% |
| Furniture and vehicles24 | €0.006m | €0.01m | €0.02m | €0.04m | €0.06m | ▲ 42.8% |
| Other tangible fixed assets26 | - | €319 | €206 | €100 | €0 | ▼ 100% |
| Financial fixed assets28 | €50 | €0.002m | €0.002m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.08m | €0.2m | €0.3m | €0.6m | €1.1m | ▲ 98.8% |
| Stocks and contracts in progress3 | - | - | - | - | €0.1m | - |
| Contracts in progress37 | - | - | - | - | €0.1m | - |
| Amounts receivable within one year40/41 | €0.05m | €0.2m | €0.3m | €0.5m | €0.9m | ▲ 83.6% |
| Trade receivables40 | €0.03m | €0.2m | €0.3m | €0.5m | €0.9m | ▲ 86.8% |
| Other amounts receivable41 | €0.02m | €0.005m | €0.002m | €0.03m | €0.04m | ▲ 33.4% |
| Cash at bank and in hand54/58 | €0.02m | €0.008m | €0.02m | €0.04m | €0.03m | ▼ 6.0% |
| Deferred charges and accrued income490/1 | €0.005m | €0.005m | €0.007m | €0.03m | €0.06m | ▲ 120% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.1m | €0.2m | €0.3m | €0.6m | €1.2m | ▲ 92.7% |
| Equity10/15 | €0.03m | -€0.2m | -€0.2m | -€0.1m | €0.2m | - |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 232% |
| Capital10 | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 232% |
| Issued capital100 | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 232% |
| Profit (loss) carried forward14 | -€0.07m | -€0.3m | -€0.3m | -€0.2m | -€0.09m | ▲ 55.5% |
| Amounts payable17/49 | €0.08m | €0.4m | €0.5m | €0.7m | €0.9m | ▲ 30.2% |
| Amounts payable after more than one year17 | €0.03m | €0.004m | €0.002m | €0.02m | €0.009m | ▼ 53.6% |
| Financial debts170/4 | - | €0.004m | €0.002m | €0.02m | €0.009m | ▼ 53.6% |
| Other amounts payable178/9 | €0.03m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.05m | €0.4m | €0.5m | €0.6m | €0.9m | ▲ 49.5% |
| Current portion of amounts payable after more than one year42 | - | €0.002m | €0.002m | €0.01m | €0.01m | ▲ 4.2% |
| Financial debts43 | €0.002m | €203 | €0.05m | €0 | €28 | - |
| Credit institutions430/8 | €0.002m | €203 | €0 | - | €28 | - |
| Other loans439 | - | - | €0.05m | €0 | - | - |
| Trade debts44 | €0.03m | €0.2m | €0.2m | €0.2m | €0.4m | ▲ 89.3% |
| Suppliers440/4 | €0.03m | €0.2m | €0.2m | €0.2m | €0.4m | ▲ 89.3% |
| Taxes, remuneration and social security45 | €0.01m | €0.05m | €0.08m | €0.2m | €0.3m | ▲ 71.7% |
| Taxes450/3 | €0.003m | €0.02m | €0.02m | €0.08m | €0.1m | ▲ 25.9% |
| Remuneration and social security454/9 | €0.01m | €0.03m | €0.05m | €0.1m | €0.2m | ▲ 104% |
| Other amounts payable47/48 | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 18.5% |
| Accrued charges and deferred income492/3 | €0.001m | €0.004m | €0 | €0.08m | €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 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 23-04-2026 | 2026-00086597 |
| 31-12-2024 | full format | 13-06-2025 | 2025-00145717 |
| 31-12-2023 | full format | 23-07-2024 | 2024-00271835 |
| 31-12-2022 | full format | 28-07-2023 | 2023-00285861 |
| 31-12-2021 | full format | 11-08-2022 | 2022-20285551 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 6
Permanent representatives 3
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| EGLADOR |
|
| ALroads SRL |
|
| GJ Management Consulting SRL |
|
| Jo Roseleth |
|
| Joris VandenBerghe |
|
| Luc De Muynck |
|
| Srl Luc Callaert |
|
| Christophe Haulet SRL |
|
| ENNOR SRL |
|
| WIP Effects SRL |
|
| DNA33 SERVICES |
|
| EREBOR |
|
Owners and capital
Owners
3 ownersChain of control
- Companion CO BE BV
- MOORE BELGIUM GROUP, AFGEKORT : MBG
- Moore Belgium
- Moore Strategy & Operations
- DNA33 SERVICES
- SQUAREFLOW
Highest known parent: Companion CO BE BV. The sources do not say who stands above it.
Owners 3
-
100%
- Companion CO BE BVconsolidating parentconsolidates
-
36%
According to the 2025 annual accounts of SQUAREFLOW and those of the other companies, 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.
Capital and shareholders
- associé unique all shares
- DNA33 SERVICES (BE 1003.446.291)
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 29-12-2025 Capital increase of €232,000 · to €332,000 · in kind
Group and network
Holdings and subsidiaries
1 holdingHoldings 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 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.
Connections & network
6 current directorsThe board mandates are listed below; here you explore them as a network.
History
On 19 November 2020, SQUAREFLOW was incorporated as a public limited company.1 In 2023 the registered office moved to Bruxelles.2 A capital increase in 2025 brought the capital to €332,000.3 Total assets went from €113,050 in 2021 to €1.2m in 2025 and headcount from 1.1 to 22.9 full-time equivalents.4
Acts, filings and financial milestones
25-02
Gazette deed
Reappointment: Srl Luc Callaert (statutory auditor)Resignations: ALroads SRL, Christophe Haulet SRL and 4 others · Appointments: ALroads SRL, GJ Management Consulting SRL and 3 others · Director discharge23 facts ▸
- General meeting, 28-06-2024
- Auditor reappointment, Srl Luc Callaert
- Board meeting, 16-07-2025
- General meeting, 16-07-2025
- Director resignation, ALroads SRL (administrateur non statutaire)
- Director resignation, Christophe Haulet SRL (administrateur non statutaire)
- Director resignation, GJ Management Consulting SRL (administrateur non statutaire)
- Director resignation, WIP Effects SRL (administrateur non statutaire)
- Director resignation, ENNOR SRL (administrateur non statutaire)
- Director resignation, EGLADOR SRL (administrateur non statutaire)
- Director discharge, ALroads SRL
- Director discharge, Christophe Haulet SRL
- +11 further facts in this act
29-12
Gazette deed
Capital & shares · Amendment of the articlesAuditor report · Capital increase · Capital11 facts ▸
- General meeting, 17-12-2025
- Other provision, “rapport de l’organe d'administration sur augmentation par apport en nature, articles 7:179 §1 al1 et 7:197 §1 al1 du Code des sociétés et des associations” (deed in French)
- Auditor report, EUR, “normes édictées par l’Institut des Réviseurs d’Entreprises” (deed in French)
- Other provision, “dispense de lecture des rapports, unanimité” (deed in French)
- Capital increase, €232,000
- Other provision, “déclaration de l’apporteur sur créance” (deed in French)
- Other provision, “absence d’émission d’actions nouvelles”, 0 (deed in French)
- Capital, €332,000
- Amendment of the articles, 5
- Power of attorney, Olivier VAN MAELE
- Shareholding, DNA33 SERVICES
26-05
Gazette deed
Resignation: EREBOR (director)Permanent representatives: Florian VANHEE and Alexandre Carrera Alvarez · Appointment: EGLADOR (director) · Power of attorney6 facts ▸
- General meeting, 16-09-2024
- Director resignation, EREBOR (director)
- Permanent representative, Florian VANHEE
- Director appointment, EGLADOR (director)
- Permanent representative, Alexandre Carrera Alvarez
- Power of attorney
26-05
Gazette deed
Resignation: DNA33 SERVICES (director)2 facts ▸
- General meeting, 27-03-2025
- Director resignation, DNA33 SERVICES (director)
26-10
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 15-09-2023
- Registered-office move, avenue des communautés, 110 à 1200 Bruxelles
About the unread acts
Of the 10 Belgian Official Gazette deeds we know for this company, 5 have been read. The other 5 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 23 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
3 establishment units
3 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 |
| 21018A0151/00S000 | Brussels | 4,169 m² | 1 · 2,549 m² | 27.7 m · 8 |
| 25772H0095/00B004 | Wallonia | 2,784 m² | 1 · 249 m² | 9.0 m · 2 |