The Flow
ActiveSummary
The Flow has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127,328 and a net result of €1,000. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 86% of 4926 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▼-9
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 3.98 against 4.65 in 2024; short-term debt: 18.8% of total assets), and 18.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
81.2%
Return on assets
0.6%
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 26-05-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
58 d early
2023
36 d early
2022
62 d early
2021
61 d early
2020
60 d early
2019
59 d early
← 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 57 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1,000▼ 29.6%
2024 · €1,421
Working capital
€87,465▼ 6.3%
2024 · €93,354
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€34,014▲ 84.9%€9,864▼ 71.0%-€12,190€750€1,411▲ 88.3%
Net result€24,570▲ 79.6%€9,512▼ 61.3%-€9,883€1,421€1,000▼ 29.6%
Equity€127,800▲ 23.8%€137,312▲ 7.4%€169,539▲ 23.5%€146,945▼ 13.3%€127,328▼ 13.3%
Total assets€192,670▲ 23.2%€151,127▼ 21.6%€208,161▲ 37.7%€173,018▼ 16.9%€156,724▼ 9.4%
Debt€64,871▲ 21.9%€13,815▼ 78.7%€38,622▲ 180%€26,073▼ 32.5%€29,395▲ 12.7%
Working capital€63,596€30,115▼ 52.6%€101,614▲ 237%€93,354▼ 8.1%€87,465▼ 6.3%
Staff (FTE)
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 88% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €156,724
Fixed assets
€39,863 ▼ 26.3%
Current assets
€116,860 ▼ 1.7%
Equity and liabilities €156,724
Equity
€127,328 ▼ 13.3%
Debt
€29,395 ▲ 12.7%
Debt's share of the balance-sheet total rises from 15.1% to 18.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€5,106▼
2024 · €8,562
Cash flow
€4,694▼
2024 · €9,233
Current ratio
3.98▼
2024 · 4.65
Debt to equity
0.23▲
2024 · 0.18
ROE
0.8%▼
2024 · 1.0%
ROA
0.6%▼
2024 · 0.8%
Interest coverage
3.13▼
2024 · 4.28
Debt ≤ 1 year
€29,395▲
2024 · €25,552
Income taxes
€586▲
2024 · €258
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
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 0.4% 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 497,058 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 16,986 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 | -€1,336 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,662 | €2,963 | €3,333 | €7,812 | €3,694 | ▼ 52.7% |
| Other operating charges640/8 | €348 | €348 | €5,873 | €480 | €292 | ▼ 39.3% |
| Gross operating margin9900 | €35,687 | €13,174 | -€2,984 | €9,042 | €5,397 | ▼ 40.3% |
| Operating profit (loss)9901 | €34,014 | €9,864 | -€12,190 | €750 | €1,411 | ▲ 88.3% |
| Financial income75/76B | €658 | €3,654 | €3,268 | €2,931 | €1,807 | ▼ 38.4% |
| Recurring financial income75 | €658 | €3,654 | €3,268 | €2,931 | €1,807 | ▼ 38.4% |
| Financial charges65/66B | €158 | €163 | €692 | €2,002 | €1,632 | ▼ 18.5% |
| Recurring financial charges65 | €158 | €163 | €692 | €2,002 | €1,632 | ▼ 18.5% |
| Profit (loss) for the period before taxes9903 | €34,513 | €13,355 | -€9,614 | €1,678 | €1,586 | ▼ 5.5% |
| Income taxes67/77 | €9,944 | €3,843 | €270 | €258 | €586 | ▲ 127% |
| Profit (loss) for the period9904 | €24,570 | €9,512 | -€9,883 | €1,421 | €1,000 | ▼ 29.6% |
| Transfer to tax-exempt reserves689 | - | - | €62,816 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €24,570 | €9,512 | -€72,699 | €1,421 | €1,000 | ▼ 29.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192,670 | €151,127 | €208,161 | €173,018 | €156,724 | ▼ 9.4% |
| Formation expenses20 | - | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €107,629 | €107,197 | €67,925 | €54,112 | €39,863 | ▼ 26.3% |
| Intangible fixed assets21 | - | - | €61,646 | €49,083 | €36,519 | ▼ 25.6% |
| Tangible fixed assets22/27 | €7,557 | €7,124 | €5,901 | €4,651 | €2,966 | ▼ 36.2% |
| Land and buildings22 | €7,557 | €5,038 | €2,519 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | €0 | €0 | €0 | €1,853 | - |
| Furniture and vehicles24 | - | €2,086 | €3,382 | €4,651 | €1,113 | ▼ 76.1% |
| Other tangible fixed assets26 | - | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €100,072 | €100,072 | €378 | €378 | €378 | = |
| Current assets29/58 | €85,041 | €43,931 | €140,236 | €118,906 | €116,860 | ▼ 1.7% |
| Amounts receivable after more than one year29 | - | - | €80,000 | €80,000 | €80,000 | = |
| Other amounts receivable291 | - | - | €80,000 | €80,000 | €80,000 | = |
| Stocks and contracts in progress3 | €7,632 | - | - | - | - | - |
| Stocks30/36 | €7,632 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €67,350 | €43,088 | €59,733 | €38,906 | €36,860 | ▼ 5.3% |
| Trade receivables40 | €3,220 | €211 | €15,903 | €17,587 | €23,126 | ▲ 31.5% |
| Other amounts receivable41 | €64,130 | €42,877 | €43,830 | €21,319 | €13,734 | ▼ 35.6% |
| Cash at bank and in hand54/58 | €9,900 | €842 | €37 | - | - | - |
| Deferred charges and accrued income490/1 | €160 | - | €466 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192,670 | €151,127 | €208,161 | €173,018 | €156,724 | ▼ 9.4% |
| Equity10/15 | €127,800 | €137,312 | €169,539 | €146,945 | €127,328 | ▼ 13.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €109,208 | €118,720 | €150,947 | €128,352 | €108,736 | ▼ 15.3% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | - | - | €61,646 | €49,083 | €36,519 | ▼ 25.6% |
| Distributable reserves133 | €107,348 | €116,860 | €89,302 | €79,270 | €72,217 | ▼ 8.9% |
| Amounts payable17/49 | €64,871 | €13,815 | €38,622 | €26,073 | €29,395 | ▲ 12.7% |
| Amounts payable after more than one year17 | - | - | - | €521 | - | - |
| Financial debts170/4 | - | - | - | €521 | - | - |
| Amounts payable within one year42/48 | €21,445 | €13,815 | €38,622 | €25,552 | €29,395 | ▲ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,045 | €521 | ▼ 82.9% |
| Financial debts43 | - | - | €9,503 | €7,035 | €14,895 | ▲ 112% |
| Credit institutions430/8 | - | - | €9,503 | €7,035 | €14,895 | ▲ 112% |
| Trade debts44 | €640 | €29 | €15,479 | €12,685 | €11,881 | ▼ 6.3% |
| Suppliers440/4 | €640 | €29 | €15,479 | €12,685 | €11,881 | ▼ 6.3% |
| Taxes, remuneration and social security45 | €20,805 | €13,786 | €13,640 | €2,787 | €2,098 | ▼ 24.7% |
| Taxes450/3 | €20,805 | €13,786 | €13,640 | €2,787 | €2,098 | ▼ 24.7% |
| Accrued charges and deferred income492/3 | €43,426 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,570 | €9,512 | -€9,883 | €1,421 | €1,000 | ▼ 29.6% |
| + Depreciation and write-downs630 | €2,662 | €2,963 | €3,333 | €7,812 | €3,694 | ▼ 52.7% |
| Operating cash flow (approximation) | €27,232 | €12,475 | -€6,550 | €9,233 | €4,694 | ▼ 49.2% |
| Investment in fixed assets (approximation) | - | -€2,530 | €35,939 | €6,001 | €10,554 | ▲ 75.9% |
| Change in cash | - | -€9,057 | -€805 | - | - | - |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €1,421
Net result €1,421 after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€9,883
Net result drops to -€9,883, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150,000Eq €169,539 ▲23.5%
Equity rises from €137,312 to €169,539.
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €24,570 ▲79.6%
Operating result €34,014, net result €24,570, both a record.
31-12
Financial
Liquidity times 5current ratio 3.97
Current ratio from 0.87 to 3.97; short-term debt falls from €53,216 to €21,445.
01-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €13,679
Net result €13,679 after one loss-making year.
Show earlier events
31-12
Financial
Equity above €100,000Eq €103,230 ▲16%
Equity rises from €88,968 to €103,230.
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Ellezelles · 1 establishment unit since 1995
Ground area
5,052 m²
Building footprint
208 m²
Volume, LiDAR
1,494 m³
Parcel 51017C1114/00E000, Wallonia · tallest building 22.4 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
UNIVERSAL TRADE TEAM UTT
since 19952.072.720.150
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51017C1114/00E000 | Wallonia | 5,052 m² | 1 · 208 m² | 22.4 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.
Structure & network
Owners and holdings
2 owners · 1 holdingOwners 2
- Machiel Asbeek Brussenatural personSourceown accounts 202550%
- Nicole Lejeunenatural personSourceown accounts 202550%
Holdings 1
- THE FLOWsubsidiary100%
According to the 2025 annual accounts of The Flow 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.
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Of 1,743 companies in sector 46150 we hold annual accounts for 758. 580 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
Founded05-07-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46150Agents in the wholesale of furniture, household goods and hardware
46130Agents in the wholesale of timber and building materials
46450Wholesale of perfume and cosmetics
46494Wholesale of non-electrical household articles
46831Wholesale of construction materials, general range
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455573861
Also
9925:BE0455573861
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.