STAR FLEX
ActiveSummary
The computed 12-month bankruptcy probability of STAR FLEX is 4.2% (elevated). The 2025 annual accounts show negative equity (-€33,173) and a net result of -€21,205. Equity has been shrinking by about 152% per year since 2023. Its solvency ranks better than 5% of 5,906 sector peers (NACE 49, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 19-04-2023 Normal situation
- Registered office
- 10 active companies are registered at this address Source: KBO register, as of 4 November 2026.
- Activity
- Freight transport by road NACE 49410and 5 others
- Establishment unit
- 2.345.668.054 1700 Dilbeek, since 19-04-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 02-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 4.2%
Annual accounts 2025
- Gross margin
- €33,907
- ▲ 48.4%
- Turnover
- ≈ €120,000
- estimated
- Loss
- €21,205
- ▲ 38.8%
- Equity
- -€33,173
- ▼ 177%
- Total assets
- €24,698
- ▼ 19.0%
- Staff
- ≈ 1 FTE
- estimated
- Negative equity on 31-12-2025
Score breakdownraises riskSector: Land transport and transport via pipelines (NACE 49)Negative equity -€33,173lowers riskLiquidity: current ratio 0.20, cash €7,236Size: total assets €24,698Show the evidence
Checked score
Score 2025
46
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 12% of micro companies in land transport (NACE 49)
Financial strength · tick: 2024
Weak
Solvency
0=
equity -134.3% of total assets
Liquidity
37+16
short-term debt 234.3% · cash 29.3%
Profitability
0=
return on assets -85.9%
Bankruptcy probability within 12 months
4.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.2%
01-2025: 3.2%● unchanged vs 12-2024
02-2025: 3.2%● unchanged vs 01-2025
03-2025: 3.1%▼ -0.1 percentage points vs 02-2025lowest value
04-2025: 3.3%▲ +0.2 percentage points vs 03-2025
05-2025: 3.3%● unchanged vs 04-2025
06-2025: 3.4%▲ +0.1 percentage points vs 05-2025
07-2025: 3.5%▲ +0.1 percentage points vs 06-2025
08-2025: 4.2%▲ +0.7 percentage points vs 07-2025
09-2025: 4.5%▲ +0.3 percentage points vs 08-2025
10-2025: 5.1%▲ +0.6 percentage points vs 09-2025highest value
11-2025: 5.1%● unchanged vs 10-2025highest value
12-2025: 5.1%● unchanged vs 11-2025
01-2026: 5.0%▼ -0.1 percentage points vs 12-2025
02-2026: 5.0%● unchanged vs 01-2026
03-2026: 5.0%● unchanged vs 02-2026
04-2026: 5.1%▲ +0.1 percentage points vs 03-2026
05-2026: 5.0%▼ -0.1 percentage points vs 04-2026
06-2026: 5.0%● unchanged vs 05-2026
07-2026: 5.1%▲ +0.1 percentage points vs 06-2026
08-2026: 4.2%▼ -0.9 percentage points vs 07-2026
09-2026: 4.2%● unchanged vs 08-2026
10-2026: 4.2%● unchanged vs 09-2026
11-2026: 4.2%● unchanged vs 10-2026
No credit on open account
Liquidity is insufficient, with a current ratio of 0.2 (0.12 in 2024), below 1. Short-term debt is 234.3% and cash 29.3% of total assets. Equity is negative.
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 49, micro). It does better than 5% of them on solvency, 34% on liquidity, 6% on profitability and 4% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€33,173
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 15-07-2026, 16 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
16 days early
2024
40 days late
2023
66 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 30 days after the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% 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 9 September (3 of the last 3 accounts filed within 56 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 3 filings
Turnover
≈ €120,000
Estimated: probably between €88,000 and €170,000
Total assets
€24,698▼ 19.0%
2024 · €30,476
Net result
-€21,205▼ 38.8%
2024 · -€15,283
Working capital
-€46,422▼ 24.7%
2024 · -€37,217
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€21,044
▼ 40.1%
2025
20232025
Net result
-€21,205
▼ 38.8%
2025
lowest quarter of the sector
20232025
Equity
-€33,173
▼ 177%
2025
lowest quarter of the sector
20232025
Total assets
€24,698
▼ 19.0%
2025
lowest quarter of the sector
20232025
Debt
€57,871
▲ 36.3%
2025
20232025
Working capital
-€46,422
▼ 24.7%
2025
lowest quarter of the sector
20232025
Solvency
-134.3%
▼ 95.0pp
2025
lowest quarter of the sector
20232025
Current ratio
0.20
▲ 0.07
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
-85.9%
▼ 35.7pp
2025
lowest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€1,659--€15,018▼ 805%-€21,044▼ 40.1%
Net result-€1,685within the sector's middle half--€15,283below the sector's middle half▼ 807%-€21,205below the sector's middle half▼ 38.8%
Equity€3,315below the sector's middle half--€11,968below the sector's middle half-€33,173below the sector's middle half▼ 177%
Total assets€14,152below the sector's middle half-€30,476below the sector's middle half▲ 115%€24,698below the sector's middle half▼ 19.0%
Debt€10,837-€42,444▲ 292%€57,871▲ 36.3%
Working capital€3,315within the sector's middle half--€37,217below the sector's middle half-€46,422below the sector's middle half▼ 24.7%
Solvency23.4%within the sector's middle half--39.3%below the sector's middle half▼ 62.7pp-134.3%below the sector's middle half▼ 95.0pp
Current ratio1.31within the sector's middle half-0.12below the sector's middle half▼ 1.180.20below the sector's middle half▲ 0.07
Return on assets (ROA)-11.9%below the sector's middle half--50.1%below the sector's middle half▼ 38.2pp-85.9%below the sector's middle half▼ 35.7pp
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €21,044, larger than the loss of €15,018 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €24,698
Fixed assets
€13,249 ▼ 47.5%
Current assets
€11,449 ▲ 119%
Equity and liabilities
Equity-€33,173
Debt€57,871
Equity is negative. Debt (€57,871) exceeds the balance-sheet total (€24,698).
Key figures and ratios
EBITDA
-€9,044▼
2024 · -€4,267
Cash flow
-€9,205▼
2024 · -€4,532
Interest coverage
-56.10▼
2024 · -16.11
Debt ≤ 1 year
€57,871▲
2024 · €42,444
Supplier credit
63 days▲
2024 · 26 days
Staff costs
€42,010▲
2024 · €24,471
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €36,000 | - |
| Depreciation and write-downs of the year | - | €10,751 | €12,000 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €55,237 | €55,291 | ▲ 0.1% |
| Remuneration, social security and pensions62 | - | €24,471 | €42,010 | ▲ 71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €10,751 | €12,000 | ▲ 11.6% |
| Other operating charges640/8 | - | €2,500 | €400 | ▼ 84.0% |
| Non-recurring operating charges66A | - | €142 | €541 | ▲ 281% |
| Gross operating margin9900 | -€1,659 | €22,846 | €33,907 | ▲ 48.4% |
| Operating profit (loss)9901 | -€1,659 | -€15,018 | -€21,044 | ▼ 40.1% |
| Financial charges65/66B | €26 | €265 | €161 | ▼ 39.2% |
| Recurring financial charges65 | €26 | €265 | €161 | ▼ 39.2% |
| Profit (loss) for the period before taxes9903 | -€1,685 | -€15,283 | -€21,205 | ▼ 38.8% |
| Profit (loss) for the period9904 | -€1,685 | -€15,283 | -€21,205 | ▼ 38.8% |
| Profit (loss) for the period to be appropriated9905 | -€1,685 | -€15,283 | -€21,205 | ▼ 38.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €14,152 | €30,476 | €24,698 | ▼ 19.0% |
| Fixed assets21/28 | - | €25,249 | €13,249 | ▼ 47.5% |
| Tangible fixed assets22/27 | - | €25,249 | €13,249 | ▼ 47.5% |
| Furniture and vehicles24 | - | €25,249 | €13,249 | ▼ 47.5% |
| Current assets29/58 | €14,152 | €5,227 | €11,449 | ▲ 119% |
| Amounts receivable within one year40/41 | €148 | - | €4,213 | - |
| Trade receivables40 | - | - | €1,238 | - |
| Other amounts receivable41 | €148 | - | €2,975 | - |
| Cash at bank and in hand54/58 | €14,004 | €5,227 | €7,236 | ▲ 38.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €14,152 | €30,476 | €24,698 | ▼ 19.0% |
| Equity10/15 | €3,315 | -€11,968 | -€33,173 | ▼ 177% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€1,685 | -€16,968 | -€38,173 | ▼ 125% |
| Amounts payable17/49 | €10,837 | €42,444 | €57,871 | ▲ 36.3% |
| Amounts payable within one year42/48 | €10,837 | €42,444 | €57,871 | ▲ 36.3% |
| Trade debts44 | €48 | €3,909 | €9,516 | ▲ 143% |
| Suppliers440/4 | €48 | €3,909 | €9,516 | ▲ 143% |
| Taxes, remuneration and social security45 | - | €8,961 | €18,282 | ▲ 104% |
| Taxes450/3 | - | €710 | €409 | ▼ 42.4% |
| Remuneration and social security454/9 | - | €8,251 | €17,872 | ▲ 117% |
| Other amounts payable47/48 | €10,790 | €29,574 | €30,074 | ▲ 1.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,685 | -€15,283 | -€21,205 | ▼ 38.8% |
| + Depreciation and write-downs630 | - | €10,751 | €12,000 | ▲ 11.6% |
| Operating cash flow (approximation) | -€1,685 | -€4,532 | -€9,205 | ▼ 103% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | -€8,777 | €2,009 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as STAR FLEX has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
84.8%
was still going
5.6%
stopped otherwise
8.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of STAR FLEX itself: 4.2% within 12 months.
Test of the method
The method was tested on the 497,446 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 7,639 companies, not a prediction for STAR FLEX. 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.
Board & ownership
Directors
Directors
2 directors, no change since 2024
AKDI El Hossain
Current
Director (not named in the articles) · appointed in the act of 21-04-2023 · term without a fixed end
SABRI Omar
Current
Director · appointed in the act of 07-02-2024 · also on the board of 1 other company
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“TITEL IV. BESTUUR - CONTROLE Artikel 10. Bestuursorgaan De vennootschap wordt bestuurd door één of meer bestuurders, natuurlijke personen of…”
deed of 21-04-2023Owners and capital
Shareholders
Stated in the act
act of 07-02-2024 ↗
- AKDI EI Hossain 50 shares
- SABRI Omar 50 shares
Share transfer
act of 07-02-2024 ↗
- AKDI EI Hossain to SABRI Omar 50 shares
At incorporation
act of 21-04-2023 ↗
- AKDI El Hossain 100 shares (100%) · €5,000
Capital transactions
Capital over time
- 21-04-2023 Incorporation · €5,000 · 100 shares
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| AKDI El Hossain |
|
| SABRI Omar |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Algemene vergadering die bestuurder(s)benoemt bepaalt aantal,duur opdracht en,indien meerdere bestuurders,bevoegdheid, 1”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 21-04-2023 (in Dutch)
Network & group
Companies at the same address
9 other companies- ISK COMPANY Registered office · since 2025 1018892354
- BELITECH EXPRESS Registered office · since 2024 1017812090
- BELISTONE Registered office · since 2024 1016768054
- BATIFLEX Registered office · since 2024 1005344028
- SB GESTION Registered office · since 2024 1005343533
- SH BELGIUM SOLUTIONS Registered office · since 2021 0777882095
- BIZ CORP Registered office · since 2021 0768835460
- BATICORP Registered office · since 2021 0765201128
- LEAD UP CONSULT Registered office · since 2016 0664694577
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
ROAD MOVIE
via SABRI Omar · Director (not named in the articles)
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
15-07
micro format · 16 days before the deadline
2025
31-12
Financial
Weakest financial yearnet -€21,205
The net result drops to -€21,205, the lowest from 2023 to 2025.
09-09
micro format · 40 days late
2024
05-10
micro format · 66 days late
07-02
Gazette deed
Transfer of 50 sharesAppointment: SABRI Omar (director) · Shareholding5 points ▸
Gazette deed
Transfer of 50 shares
Appointment: SABRI Omar (director) · Shareholding5 points ▸
- General meeting, 01-01-2024
- Director appointment, SABRI Omar (director)
- Share transfer, AKDI EI Hossain → SABRI Omar
- AKDI EI Hossain holds 50 shares
- SABRI Omar holds 50 shares
2023
21-04
Gazette deed
IncorporationStarting capital €5,000 · Appointment: AKDI El Hossain (director) · Permanent representative: AKDI El Hossain · Founder12 points ▸
Gazette deed
Incorporation
Starting capital €5,000 · Appointment: AKDI El Hossain (director) · Permanent representative: AKDI El Hossain · Founder12 points ▸
- Incorporation, “STAR FLEX” (deed in Dutch)
- Founder, AKDI El Hossain
- Founding capital, €5,000
- AKDI El Hossain holds 100 shares
- Bank account, “bijzondere rekening geopend namens vennootschap in oprichting”, 5000 (deed in Dutch)
- Other provision, “bevestiging deponering inbreng”, 5000 (deed in Dutch)
- Capital
- Registered office clause, “1700 Dilbeek, Baron R. De Vironlaan 81” (deed in Dutch)
- Board rule, 1
- Director appointment, AKDI El Hossain (director (not named in the articles))
- Permanent representative, AKDI El Hossain (vast vertegenwoordiger van de vennootschap)
- Pre-incorporation commitments, “takeover, alle verbintenissen, verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
STAR FLEX in Dutch
Enterprise number
0800.928.802
Legal form
Private limited company
Status
Active, normale toestand
Founded
19-04-2023
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 21-04-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, kan bij enkel besluit van bestuursorgaan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren…”
deed of 21-04-2023 (in Dutch)Registered office and establishments
Registered office
Baron R. de Vironlaan 81, 1700 Dilbeek, Belgium
Establishment unit
STAR FLEX, Baron R. de Vironlaan 81, 1700 Dilbeek since 19-04-2023 · unit number 2.345.668.054
Activities
NACEBEL 2025VAT activities
49410
Freight transport by road main activity
47110
Non-specialised retail sale with food, beverages or tobacco predominating
49320
Non-scheduled passenger transport by road
49330
On-demand passenger transport by chauffeured vehicle
49420
Removal services
52250
Logistics services
Social security (RSZ) activities
49330
On-demand passenger transport by chauffeured vehicle main activity
Codes under NACEBEL 2008
VAT activities
49410
Road freight transport main activity
47111
Retail trade
49320
Taxi operation
49390
Land transport and transport via pipelines
49420
Land transport and transport via pipelines
52290
Warehousing and support activities for transportation
Social security (RSZ) activities
49320
Taxi operation main activity
Invoicing and payment
VAT number
BE 0800.928.802
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of May at 18:00
deed of 21-04-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
714 m²
Building footprint
154 m²
Building volume
1,441 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23016D0190/00R000 | Flanders | 714 m² | 1 · 154 m² | 13.3 m · 4 |