Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of SQUAREFLOW is 0.9% (low). The 2025 annual accounts show equity of €237k and a net result of €118k. Equity is growing by ~45.2% per year across the filed fiscal years. Its solvency ranks better than 36% of 92 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Signals
1 signal · with evidenceConsistently profitable
Positive net result in the two most recent financial years (2024 and 2025).
View the result trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Trust signals
2 signalsMore than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.9%
Low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Young company
+Higher-failure-rate region
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€118k+82.5%
Working capital€171k
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 23-04-2026 with the NBB · fiscal year 2025 · volledig
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~45.2%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming & consultancy · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 20.0% | 46.9% | |
| Net result | €118k | €44k | |
| Equity | €237k | €91k | |
| Gross operating margin | €1.92M | €74k | |
| Staff costs | €1.70M | €303k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P36
Stable position over 2021-2025
· n=92-295
P82
Improving position over 2021-2025
· n=92-295
P68
Improving position over 2021-2025
· n=92-295
P95
Improving position over 2021-2025
· n=77-249
Describes the position versus peers, not a forecast.
€211k
+102.8%
far above sector median
€118k
+82.5%
far above sector median
€139k
+65.3%
far above sector median
€1.19M
+92.7%
far above sector median
€237k
-
+77% vs sector
€171k
-
+108% vs sector
23
+40.5%
far above sector median
€1.70M
+72.4%
far above sector median
€47k
+1858.9%
far above sector median
€948k
+30.2%
far above sector median
€940k
+49.5%
far above sector median
€9k
-53.6%
+102% vs sector
1.18
+33.0%
-86% vs sector
1.07
+20.1%
-88% vs sector
20.0%
-
-78% vs sector
4.00
-
far above sector median
49.8%
-
far above sector median
10.0%
-5.3%
far above sector median
7.93
+40.9%
-18% vs sector
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Revenue | - |
| EBITDA | €211k |
| Net profit | €118k |
| Cash flow | €139k |
| Staff costs | €1.70M |
| Income taxes | €47k |
| Dividends | - |
| Total assets | €1.19M |
| Equity | €237k |
| Debt | €948k |
| of which ≤ 1y | €940k |
| of which > 1y | €9k |
| Working capital | €171k |
| Employees (FTE) | 22.9 |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 1.18 |
| Quick ratio | 1.07 |
| Working capital ratio | 14.4% |
| Solvency | 20.0% |
| Debt / equity | 4.00 |
| Long-term debt ratio | 0.04 |
| Interest coverage | 7.93 |
| Gross margin | - |
| Net margin | - |
| ROA | 10.0% |
| ROE | 49.8% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €1.19M |
| Fixed assets | 21/28 | €75k |
| Tangible fixed assets | 22/27 | €61k |
| Financial fixed assets | 28 | €14k |
| Current assets | 29/58 | €1.11M |
| Stocks & contracts in progress | 3 | €108k |
| Amounts receivable within one year | 40/41 | €911k |
| Cash & bank | 54/58 | €34k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.19M |
| Equity | 10/15 | €237k |
| Contributions / capital | 10/11 | €332k |
| Accumulated profits (losses) | 14 | €-95k |
| Amounts payable | 17/49 | €948k |
| Amounts payable after one year | 17 | €9k |
| Amounts payable within one year | 42/48 | €940k |
| Trade debts payable within one year | 44 | €448k |
| Income statement | ||
| Gross operating margin | 9900 | €1.92M |
| Operating result | 9901 | €190k |
| Financial income | 75 | €1k |
| Financial charges | 65 | €27k |
| Result before taxes | 9903 | €165k |
| Income taxes | 67/77 | €47k |
| Net result for the period | 9904 | €118k |
| Result to be appropriated | 9905 | €118k |
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2025 · computed76
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
5 directorsCurrent directors & mandates
-
EGLADORLegal entityDirector· perm. rep.: Alexandre Carrera AlvarezState Gazette act 25066649 (26-05-2025)Current26-05-2025 → present
-
Current07-03-2023 → present
-
Current07-03-2023 → present
-
Current31-12-2022 → present
Former directors (1)
-
Former- → 27-03-2025
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Statutory auditor
2 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| Srl Luc CallaertCurrent Company auditor · represented by Luc Callaert |
25381849 | 17-12-2025 → present |
| Luc CALLAERT Statutory auditor succeeded by Srl Luc Callaert in 2025 |
- | 24-08-2022 → 17-12-2025 |
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten(62200) |
| Legal form | Public limited company(014) |
| Incorporation | 19-11-2020 |
| Status | Active |
| Postal code | 1200 |
Structure & network
Connections & network
32 connected companiesGroup structure
Parent · 1 subsidiary · 1 location
Control→
Parent · 1 subsidiary · 1 location
Control→
Parent · 1 subsidiary · 1 location
Control→
Linked via shared directors
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Permanent representative
→
viaLuc CALLAERT · Statutory auditor
→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Permanent representative
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
viaLuc CALLAERT · Statutory auditor
former→
Network connections
Shared address
→
Shared address
→
Shared address
→
Shared address
→
Shared address
→
Shared address
→
Shared address
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
3 locationsSQUAREFLOW
since 20202.310.116.762
Squareflow
since 20202.318.947.623
Squareflow
since 20232.345.986.075
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels3
Ground area1.2 ha
Buildings3
Building footprint5,217 m²
Volume (LiDAR)99,864 m³
Tallest building27.7 m · ±8 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Wallonia
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0424/00D008 | Brussels | 5,192 m² | 1 · 2,419 m² | 27.6 m · 7 fl. |
| 21018A0151/00S000 | Brussels | 4,169 m² | 1 · 2,549 m² | 27.7 m · 8 fl. |
| 25772H0095/00B004 | Wallonia | 2,784 m² | 1 · 249 m² | 9.0 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
9 acts Capital history · 1
09-02-2023
v3.2
Address history · 1
26-10-2023
v3.2
All acts · 9
updated 5 months ago
2026
25-02-2026 5 directors appointed, 6 resigning, 1 reappointed
- Luc De Muynck, Gedelegeerd bestuurder
- Jo Roseleth, Gedelegeerd bestuurder
- Anouk Van Tricht, Gedelegeerd bestuurder
- Dominique Jaminet, Gedelegeerd bestuurder
- Bert Lutin, Gedelegeerd bestuurder
- Adrien Larock, Gedelegeerd bestuurder
- Christophe Haulet, Gedelegeerd bestuurder
- Gérald Jacqmin, Gedelegeerd bestuurder
2025
29-12-2025 Articles of association amended
Summary:
v3.2
26-05-2025 1 director appointed, 1 resigning
26-05-2025 DNA33 SERVICES resigns as director
2023
26-10-2023 Registered office moved within Bruxelles
- Rue du Saphir 33, 1030 Bruxelles → Avenue des Communautés 110, 1200 Bruxelles
Summary:
v3.2
13-07-2023 2 directors appointed
09-02-2023 Capital increase of €0 to €100,000
2022
24-08-2022 LUC CALLAERT appointed as statutory auditor
2020
23-11-2020 Incorporation of a new SNC
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes75
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
76
Profitability
100
Solvency
28
Growth
78
Stability
94
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Beheer van computerfaciliteiten62030Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten62200Ontwerpen en programmeren van computerprogramma's62010Computerconsultancy-activiteiten62020Overige diensten op het gebied van informatietechnologie en computer62090Ontwerpen van computerprogramma’s62100Overige diensten op het gebied van informatietechnologie en computer62900Computerinfrastructuur, gegevensverwerking, hosting en aanverwante activiteiten63100Gegevensverwerking, webhosting en aanverwante activiteiten63110Webportalen63120Activiteiten van webportalen63910
Primary activity highlighted.
Names & trade names
| Legal nameFR | SQUAREFLOW |
Registered office
Gemeenschappenlaan 110
1200 Sint-Lambrechts-Woluwe, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.