The Flow
ActiveSummary
The Flow has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €576,776 and a net result of €259,233. Equity is growing by ~54.2% per year across the filed fiscal years. Its solvency ranks better than 40% of 1453 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-1
Solvency53▲+8
Growth85=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 1.61 against 1.33 in 2024; short-term debt: 61.2% and cash: 0.8% of total assets), but 72.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 →
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
27.8%
Return on assets
12.5%
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 27-07-2026, 4 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
4 d early
2024
24 d early
2023
20 d early
2022
3 d late
2021
3 d late
2020
86 d early
2019
22 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 21 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 27 July (5 of the last 5 filed years within 30 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?Nuclys · 450 companies
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Financials · fiscal year 2025, full schema
Turnover
€7.1m▲ 19.4%
2024 · €6.0m
EBIT margin
5.8%▼ 2.3pp
2024 · 8.2%
Net result
€259,233▲ 72.4%
2024 · €150,340
Working capital
€778,664▲ 104%
2024 · €382,062
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
Turnover€2.5m▲ 71.0%€3.3m▲ 35.9%€4.6m▲ 38.2%€6.0m▲ 29.8%€7.1m▲ 19.4%
Operating result€311,973▲ 38.6%€10,505▼ 96.6%€264,940▲ 2,422%€487,653▲ 84.1%€414,651▼ 15.0%
Net result€255,570above the sector's middle half▲ 22.9%-€29,768below the sector's middle half€175,264above the sector's middle half€150,340above the sector's middle half▼ 14.2%€259,233above the sector's middle half▲ 72.4%
EBIT margin12.7%▼ 3.0pp0.3%▼ 12.4pp5.8%▲ 5.4pp8.2%▲ 2.4pp5.8%▼ 2.3pp
Equity€131,708within the sector's middle half€101,940within the sector's middle half▼ 22.6%€167,204within the sector's middle half▲ 64.0%€317,544within the sector's middle half▲ 89.9%€576,776within the sector's middle half▲ 81.6%
Total assets€634,314within the sector's middle half▼ 4.6%€1.3mwithin the sector's middle half▲ 106%€1.3mwithin the sector's middle half▲ 0.4%€1.6mwithin the sector's middle half▲ 20.4%€2.1mwithin the sector's middle half▲ 31.4%
Debt€502,606▼ 27.5%€1.2m▲ 139%€1.1m▼ 5.0%€1.3m▲ 10.2%€1.5m▲ 18.7%
Working capital€111,496within the sector's middle half€117,735within the sector's middle half▲ 5.6%€218,023within the sector's middle half▲ 85.2%€382,062within the sector's middle half▲ 75.2%€778,664within the sector's middle half▲ 104%
Solvency20.8%within the sector's middle half▲ 25.1pp7.8%below the sector's middle half▼ 13.0pp12.8%below the sector's middle half▲ 5.0pp20.1%within the sector's middle half▲ 7.4pp27.8%within the sector's middle half▲ 7.7pp
Current ratio1.22within the sector's middle half▲ 0.291.10within the sector's middle half▼ 0.121.21within the sector's middle half▲ 0.101.33within the sector's middle half▲ 0.121.61within the sector's middle half▲ 0.28
Return on assets (ROA)40.3%above the sector's middle half▲ 9.0pp-2.3%below the sector's middle half▼ 42.6pp13.4%within the sector's middle half▲ 15.7pp9.5%within the sector's middle half▼ 3.8pp12.5%within the sector's middle half▲ 3.0pp
Staff (FTE)10.8within the sector's middle half▲ 145%17.5above the sector's middle half▲ 62.0%14.8above the sector's middle half▼ 15.4%13.9above the sector's middle half▼ 6.1%17.1within the sector's middle half▲ 23.0%
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.
Why a figure moved sharply
- 2025 Net result +72% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.1m
Fixed assets
€26,396 ▼ 23.9%
Current assets
€2.0m ▲ 32.7%
Equity and liabilities €2.1m
Equity
€576,776 ▲ 81.6%
Provisions
€982
Debt
€1.5m ▲ 18.7%
Debt's share of the balance-sheet total falls from 79.9% to 72.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€434,306▼
2024 · €507,141
Cash flow
€278,888▲
2024 · €169,828
Quick ratio
1.61▲
2024 · 1.33
Debt to equity
2.59▼
2024 · 3.97
ROE
44.9%▼
2024 · 47.3%
Interest coverage
7.95▼
2024 · 14.85
Debt ≤ 1 year
€1.3m▲
2024 · €1.2m
Income taxes
€101,304▼
2024 · €128,912
Staff costs
€1.7m▲
2024 · €1.4m
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 0.1% 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €2.5m | €3.3m | €4.6m | €6.0m | €7.1m | ▲ 19.4% |
| Non-recurring operating income76A | - | €188 | €87 | €60 | €1,416 | ▲ 2,261% |
| Goods, raw materials, services and sundry goods60/61 | €1.3m | €2.0m | €3.0m | €4.1m | €5.0m | ▲ 21.6% |
| Remuneration, social security and pensions62 | €834,970 | €1.3m | €1.3m | €1.4m | €1.7m | ▲ 23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,246 | €17,717 | €17,368 | €19,489 | €19,655 | ▲ 0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €106 | -€106 | €982 | ▲ 1,026% |
| Other operating charges640/8 | €3,191 | €5,209 | €6,123 | €9,079 | €8,449 | ▼ 6.9% |
| Non-recurring operating charges66A | - | - | - | - | €217 | - |
| Gross operating margin9900 | €1.2m | €1.4m | €1.6m | €1.9m | €2.2m | ▲ 13.6% |
| Operating profit (loss)9901 | €311,973 | €10,505 | €264,940 | €487,653 | €414,651 | ▼ 15.0% |
| Financial income75/76B | - | €88 | €3 | €39 | €512 | ▲ 1,221% |
| Recurring financial income75 | - | €88 | €3 | €39 | €512 | ▲ 1,221% |
| Financial charges65/66B | €14,518 | €23,687 | €29,323 | €208,439 | €54,627 | ▼ 73.8% |
| Recurring financial charges65 | €14,518 | €23,687 | €29,323 | €34,152 | €54,627 | ▲ 59.9% |
| Non-recurring financial charges66B | - | - | - | €174,287 | - | - |
| Profit (loss) for the period before taxes9903 | €297,455 | -€13,094 | €235,620 | €279,252 | €360,536 | ▲ 29.1% |
| Income taxes67/77 | €41,885 | €16,674 | €60,356 | €128,912 | €101,304 | ▼ 21.4% |
| Profit (loss) for the period9904 | €255,570 | -€29,768 | €175,264 | €150,340 | €259,233 | ▲ 72.4% |
| Profit (loss) for the period to be appropriated9905 | €255,570 | -€29,768 | €175,264 | €150,340 | €259,233 | ▲ 72.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634,314 | €1.3m | €1.3m | €1.6m | €2.1m | ▲ 31.4% |
| Fixed assets21/28 | €24,412 | €53,692 | €44,990 | €34,667 | €26,396 | ▼ 23.9% |
| Tangible fixed assets22/27 | €23,070 | €30,650 | €21,948 | €34,667 | €26,396 | ▼ 23.9% |
| Plant, machinery and equipment23 | €23,070 | €30,650 | €21,948 | €34,667 | €26,396 | ▼ 23.9% |
| Financial fixed assets28 | €1,342 | €23,042 | €23,042 | - | - | - |
| Current assets29/58 | €609,902 | €1.3m | €1.3m | €1.5m | €2.0m | ▲ 32.7% |
| Stocks and contracts in progress3 | - | - | - | - | €8,608 | - |
| Contracts in progress37 | - | - | - | - | €8,608 | - |
| Amounts receivable within one year40/41 | €586,771 | €1.2m | €1.2m | €1.5m | €2.0m | ▲ 32.4% |
| Trade receivables40 | €581,108 | €1.2m | €1.2m | €1.5m | €1.9m | ▲ 33.0% |
| Other amounts receivable41 | €5,662 | - | €2,540 | €45,387 | €51,439 | ▲ 13.3% |
| Cash at bank and in hand54/58 | €14,918 | €50,354 | €29,946 | €9,716 | €16,068 | ▲ 65.4% |
| Deferred charges and accrued income490/1 | €8,213 | €19,612 | €42,931 | €28,951 | €30,492 | ▲ 5.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634,314 | €1.3m | €1.3m | €1.6m | €2.1m | ▲ 31.4% |
| Equity10/15 | €131,708 | €101,940 | €167,204 | €317,544 | €576,776 | ▲ 81.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €69,200 | €39,940 | €104,940 | €254,940 | €513,940 | ▲ 102% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €63,000 | €33,740 | €98,740 | €248,740 | €507,740 | ▲ 104% |
| Profit (loss) carried forward14 | €508 | - | €264 | €604 | €837 | ▲ 38.5% |
| Provisions and deferred taxes16 | - | - | €106 | - | €982 | - |
| Provisions for liabilities and charges160/5 | - | - | €106 | - | €982 | - |
| Pensions and similar obligations160 | - | - | €106 | - | €982 | - |
| Amounts payable17/49 | €502,606 | €1.2m | €1.1m | €1.3m | €1.5m | ▲ 18.7% |
| Amounts payable within one year42/48 | €498,406 | €1.1m | €1.0m | €1.2m | €1.3m | ▲ 9.3% |
| Trade debts44 | €231,511 | €366,133 | €639,311 | €774,392 | €778,584 | ▲ 0.5% |
| Suppliers440/4 | €231,511 | €366,133 | €639,311 | €774,392 | €778,584 | ▲ 0.5% |
| Advances received on contracts in progress46 | - | - | - | - | €11,718 | - |
| Taxes, remuneration and social security45 | €145,967 | €235,846 | €289,375 | €386,105 | €477,664 | ▲ 23.7% |
| Taxes450/3 | €42,473 | €53,865 | €122,611 | €227,690 | €294,038 | ▲ 29.1% |
| Remuneration and social security454/9 | €103,494 | €181,980 | €166,764 | €158,415 | €183,626 | ▲ 15.9% |
| Other amounts payable47/48 | €120,928 | €531,769 | €118,487 | - | - | - |
| Accrued charges and deferred income492/3 | €4,200 | €69,488 | €95,704 | €99,186 | €227,302 | ▲ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €255,570 | -€29,768 | €175,264 | €150,340 | €259,233 | ▲ 72.4% |
| + Depreciation and write-downs630 | €9,246 | €17,717 | €17,368 | €19,489 | €19,655 | ▲ 0.9% |
| Operating cash flow (approximation) | €264,816 | -€12,051 | €192,632 | €169,828 | €278,888 | ▲ 64.2% |
| Investment in fixed assets (approximation) | - | -€46,997 | -€8,666 | -€9,166 | -€11,384 | ▼ 24.2% |
| Change in cash | - | €35,436 | -€20,408 | -€20,230 | €6,352 | ▲ 131% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €259,233 ▲72.4%
Net result €259,233, the highest in the series.
31-12
Financial
Equity above €500,000Eq €576,776 ▲81.6%
3 profitable years in a row build equity to €576,776.
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €200,000Eq €317,544 ▲89.9%
2 profitable years in a row build equity to €317,544.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €175,264
Net result €175,264 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €167,204 ▲64%
Equity rises from €101,940 to €167,204.
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
2021
31-12
Financial
Equity above €100,000Eq €131,708
2 profitable years in a row build equity to €131,708.
06-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
31-12
Financial
Back to profitnet €207,947
Net result €207,947 after 2 loss-making years.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Kontich · 1 establishment unit since 2017
Ground area
3,333 m²
Building footprint
933 m²
Volume, LiDAR
7,846 m³
Parcel 11024B0079/00F000, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
79
companies at this address
See who is registered here
1 establishment unit
The Flow
since 20172.266.846.844
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024B0079/00F000 | Flanders | 3,333 m² | 1 · 932 m² | 10.3 m · 3 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
Part of the group
Nuclys
450 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
- Nuclys
- De Cronos Groep
- Bluu
- The Flow
Highest known parent: Nuclys. The sources do not say who stands above it.
Owners 1
- Bluuparent80%
Holdings 1
-
35%
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 30,007 companies in sector 62200 we hold annual accounts for 18,400. 11,336 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
Founded06-06-2017
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
73300Public relations and communication consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676562330
Also
9925:BE0676562330
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.