FLANDERS
ActiveSummary
FLANDERS has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.14M and a net result of €91k. Equity is growing by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 86% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-9
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 6.39 against 4.69 in 2024; short-term debt: 15% and cash: 11.8% of total assets), and 16.8% of the assets are financed with debt.
Credit check for your own amount and term
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
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
83.2%
Return on assets
6.7%
Age of the figures
13 mo
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 →
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 10-03-2026, 21 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
21 d early
2024
7 d early
2023
24 d early
2022
2 d early
2021
3 d early
2020
5 d early
2019
5 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-08-2026 and is due by 31-03-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-08-2026 close25-09-2026 today31-03-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€91k▼ 52.0%
2024 · €190k
2019: €6klowest in 7 years
2020: €50k▲ +680% vs 2019
2021: €128k▲ +156% vs 2020
2022: €29k▼ -77.6% vs 2021
2023: €67k▲ +134% vs 2022
2024: €190k▲ +183% vs 2023highest in 7 years
2025: €91k▼ -52.0% vs 2024
2019 → 2025
Working capital
€1.11M▲ 9.6%
2024 · €1.01M
2019: €724k
2020: €633k▼ -12.6% vs 2019lowest in 7 years
2021: €759k▲ +20.0% vs 2020
2022: €787k▲ +3.7% vs 2021
2023: €814k▲ +3.4% vs 2022
2024: €1.01M▲ +24.2% vs 2023
2025: €1.11M▲ +9.6% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€761k-€789k▲ 3.8%€856k▲ 8.5%€1.05M▲ 22.2%€1.14M▲ 8.7%
2021: €761klowest in 5 years
2022: €789k▲ +3.8% vs 2021
2023: €856k▲ +8.5% vs 2022
2024: €1.05M▲ +22.2% vs 2023
2025: €1.14M▲ +8.7% vs 2024highest in 5 years
Operating result€172k-€12k▼ 93.2%€127k▲ 989%€322k▲ 154%€149k▼ 53.8%
2021: €172k
2022: €12k▼ -93.2% vs 2021lowest in 5 years
2023: €127k▲ +989% vs 2022
2024: €322k▲ +154% vs 2023highest in 5 years
2025: €149k▼ -53.8% vs 2024
Net result€128k-€29k▼ 77.6%€67k▲ 134%€190k▲ 183%€91k▼ 52.0%
2021: €128k
2022: €29k▼ -77.6% vs 2021lowest in 5 years
2023: €67k▲ +134% vs 2022
2024: €190k▲ +183% vs 2023highest in 5 years
2025: €91k▼ -52.0% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 54% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.37M
Fixed assets
€52k ▼ 29.6%
Current assets
€1.31M ▲ 2.3%
Equity and liabilities €1.37M
Equity
€1.14M ▲ 8.7%
Debt
€229k ▼ 26.7%
Debt's share of the balance-sheet total falls from 23.0% to 16.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€171k▼
2024 · €344k
Cash flow
€113k▼
2024 · €212k
Current ratio
6.39▲
2024 · 4.69
Quick ratio
2.33▲
2024 · 2.05
Debt to equity
0.20▼
2024 · 0.30
ROE
8.0%▼
2024 · 18.1%
ROA
6.7%▼
2024 · 14.0%
Interest coverage
7.56▲
2024 · 7.53
Debt ≤ 1 year
€206k▼
2024 · €274k
Debt > 1 year
€24k▼
2024 · €39k
Income taxes
€37k▼
2024 · €87k
Staff costs
€130k▼
2024 · €151k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.36M€1.37M▲
Fixed assets21/28€73k€52k▼
Tangible fixed assets22/27€73k€52k▼
Furniture and vehicles24€73k€52k▼
Current assets29/58€1.29M€1.31M▲
Stocks and contracts in progress3€724k€836k▲
Stocks30/36€724k€836k▲
Amounts receivable within one year40/41€470k€318k▼
Trade receivables40€441k€308k▼
Other amounts receivable41€29k€10k▼
Cash at bank and in hand54/58€92k€161k▲
Equity and liabilities
Total equity and liabilities10/49€1.36M€1.37M▲
Equity10/15€1.05M€1.14M▲
Contributions10/11€125k€125k=
Capital10€125k€125k=
Issued capital100€125k€125k=
Reserves13€269k€360k▲
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Distributable reserves133€257k€348k▲
Profit (loss) carried forward14€652k€652k=
Amounts payable17/49€313k€229k▼
Amounts payable after more than one year17€39k€24k▼
Financial debts170/4€39k€24k▼
Amounts payable within one year42/48€274k€206k▼
Current portion of amounts payable after more than one year42€14k€15k▲
Trade debts44€139k€142k▲
Suppliers440/4€139k€142k▲
Taxes, remuneration and social security45€121k€44k▼
Taxes450/3€84k€27k▼
Remuneration and social security454/9€36k€17k▼
Other amounts payable47/48-€5k
Accrued charges and deferred income492/3€100€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€151k€130k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€22k€22k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€43k€-50k▼
Other operating charges640/8€6k€3k▼
Gross operating margin9900€544k€254k▼
Operating profit (loss)9901€322k€149k▼
Financial income75/76B€280€2k▲
Recurring financial income75€280€2k▲
Financial charges65/66B€46k€23k▼
Recurring financial charges65€46k€23k▼
Profit (loss) for the period before taxes9903€277k€128k▼
Income taxes67/77€87k€37k▼
Profit (loss) for the period9904€190k€91k▼
Profit (loss) for the period to be appropriated9905€190k€91k▼
Appropriation of the result
Profit (loss) to be appropriated9906€842k€743k▼
Profit (loss) brought forward from the previous period14P€652k€652k=
Transfer to equity691/2€190k€91k▼
To other reserves6921€190k€91k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €132k | €132k | €151k | €130k | ▼ 13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €341 | €353 | €13k | €22k | €22k | ▼ 0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €44k | €-35k | €43k | €-50k | ▼ 216% |
| Other operating charges640/8 | - | €5k | €15k | €6k | €3k | ▼ 51.4% |
| Gross operating margin9900 | €279k | €192k | €253k | €544k | €254k | ▼ 53.3% |
| Operating profit (loss)9901 | €172k | €12k | €127k | €322k | €149k | ▼ 53.8% |
| Financial income75/76B | - | €36k | €5k | €280 | €2k | ▲ 454% |
| Recurring financial income75 | €5k | €36k | €5k | €280 | €2k | ▲ 454% |
| Financial charges65/66B | - | €9k | €39k | €46k | €23k | ▼ 50.6% |
| Recurring financial charges65 | €9k | €9k | €39k | €46k | €23k | ▼ 50.6% |
| Profit (loss) for the period before taxes9903 | €168k | €39k | €93k | €277k | €128k | ▼ 53.8% |
| Income taxes67/77 | €40k | €10k | €26k | €87k | €37k | ▼ 57.7% |
| Profit (loss) for the period9904 | €128k | €29k | €67k | €190k | €91k | ▼ 52.0% |
| Profit (loss) for the period to be appropriated9905 | €128k | €29k | €67k | €190k | €91k | ▼ 52.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €945k | €1.28M | €1.22M | €1.36M | €1.37M | ▲ 0.6% |
| Fixed assets21/28 | €1k | €2k | €95k | €73k | €52k | ▼ 29.6% |
| Intangible fixed assets21 | - | €0 | €0 | - | - | - |
| Tangible fixed assets22/27 | €1k | €2k | €95k | €73k | €52k | ▼ 29.6% |
| Furniture and vehicles24 | - | €2k | €95k | €73k | €52k | ▼ 29.6% |
| Current assets29/58 | €944k | €1.28M | €1.13M | €1.29M | €1.31M | ▲ 2.3% |
| Stocks and contracts in progress3 | €272k | €597k | €681k | €724k | €836k | ▲ 15.6% |
| Stocks30/36 | - | €597k | €681k | €724k | €836k | ▲ 15.6% |
| Amounts receivable within one year40/41 | €359k | €404k | €390k | €470k | €318k | ▼ 32.4% |
| Trade receivables40 | - | €370k | €361k | €441k | €308k | ▼ 30.3% |
| Other amounts receivable41 | - | €34k | €28k | €29k | €10k | ▼ 64.8% |
| Cash at bank and in hand54/58 | €313k | €279k | €56k | €92k | €161k | ▲ 75.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €945k | €1.28M | €1.22M | €1.36M | €1.37M | ▲ 0.6% |
| Equity10/15 | €761k | €789k | €856k | €1.05M | €1.14M | ▲ 8.7% |
| Contributions10/11 | €125k | €125k | €125k | €125k | €125k | = |
| Capital10 | - | €125k | €125k | €125k | €125k | = |
| Issued capital100 | - | €125k | €125k | €125k | €125k | = |
| Reserves13 | €13k | €13k | €80k | €269k | €360k | ▲ 33.8% |
| Non-distributable reserves130/1 | - | €13k | €13k | €13k | €13k | = |
| Legal reserve130 | - | €13k | €13k | €13k | €13k | = |
| Distributable reserves133 | - | - | €67k | €257k | €348k | ▲ 35.4% |
| Profit (loss) carried forward14 | €623k | €652k | €652k | €652k | €652k | = |
| Amounts payable17/49 | €184k | €492k | €365k | €313k | €229k | ▼ 26.7% |
| Amounts payable after more than one year17 | - | - | €53k | €39k | €24k | ▼ 38.9% |
| Financial debts170/4 | - | - | €53k | €39k | €24k | ▼ 38.9% |
| Amounts payable within one year42/48 | €184k | €492k | €312k | €274k | €206k | ▼ 24.9% |
| Current portion of amounts payable after more than one year42 | - | €70k | €29k | €14k | €15k | ▲ 3.9% |
| Trade debts44 | €83k | €383k | €217k | €139k | €142k | ▲ 2.1% |
| Suppliers440/4 | - | €383k | €217k | €139k | €142k | ▲ 2.1% |
| Taxes, remuneration and social security45 | - | €39k | €66k | €121k | €44k | ▼ 63.8% |
| Taxes450/3 | - | €16k | €42k | €84k | €27k | ▼ 67.8% |
| Remuneration and social security454/9 | - | €23k | €24k | €36k | €17k | ▼ 54.6% |
| Other amounts payable47/48 | - | - | - | - | €5k | - |
| Accrued charges and deferred income492/3 | - | - | - | €100 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €128k | €29k | €67k | €190k | €91k | ▼ 52.0% |
| + Depreciation and write-downs630 | €341 | €353 | €13k | €22k | €22k | ▼ 0.5% |
| Operating cash flow (approximation) | €129k | €29k | €80k | €212k | €113k | ▼ 46.7% |
| Investment in fixed assets (approximation) | - | €-942 | €-106k | €0 | €0 | - |
| Change in cash | - | €-34k | €-223k | €36k | €69k | ▲ 93.3% |
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
10-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-08
Financial
Highest result since 2019net €190k ▲183%
Operating result €322k, net result €190k, both a record.
31-08
Financial
Equity above €1MEq €1.05M ▲22.2%
6 profitable years in a row build equity to €1.05M.
07-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
26-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
26-02
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 5 acts read
About the unread acts
We know of 5 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
5 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, Herzele · 1 establishment unit since 1988
Ground area
2,229 m²
Building footprint
667 m²
Volume, LiDAR
2,281 m³
2 parcels, Flanders · tallest building 5.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
FLANDERS
since 19882.034.044.666
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41028B0583/00D000 | Flanders | 1,394 m² | 1 · 295 m² | 4.2 m · 1 fl. |
| 41008A0174/00D003 | Flanders | 834 m² | 1 · 372 m² | 5.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
54930096IX9SKIRR1A52
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Of 207 companies in sector 46495 we hold annual accounts for 108. 73 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
Founded10-02-1988
Fiscal year end31-08
Activities, NACEBEL 2025
46495Wholesale trade
46720Wholesale of motor vehicle parts and accessories
30920Manufacture of other transport equipment
47632Retail sale of bicycles
Scores and ratios are computed by Checked and are not a credit decision.