BeCode SRL

Active

Private limited companyfounded 20215 yrs activeKantersteen 12, 1000 Brussel, BelgiumKBO/BCE: BE 0764.802.240

Summary

The computed 12-month bankruptcy probability of BeCode SRL is 6.6% (elevated). The 2025 annual accounts show negative equity (€-1.42M) and a net result of €-2.00M. Equity is shrinking by ~31.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 315 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

20 / 100

Critical

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-1

Solvency0▼-46

Growth32=

Track record94

Bankruptcy probability, 12 months

6.6% Elevated

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity tight (current ratio 1.42 against 9.92 in 2024; short-term debt: 68.2% and cash: 35.4% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit check for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

-507.5%

Return on assets

-716.2%

Age of the figures

9 mo

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 78

Relative position

BE, all sectors

reference

Sector 78

lower

← fewer bankruptcies more bankruptcies →

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

2122232425

2021 to 2025 · latest year €-1.42M

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

3 d early

2024

31 d early

2023

28 d early

2022

12 d early

2021

6 d early

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-2.00M▼ 572%

2024 · €-298k

2021: €-185k 2022: €-323k 2023: €-265k 2024: €-298k

2021 → 2025

Working capital

€81k▼ 94.6%

2024 · €1.48M

2021: €893k 2022: €554k 2023: €1.09M 2024: €1.48M

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€1.31M-€992k▼ 24.6%€728k▼ 26.7%€429k▼ 41.0%€-1.42M

Operating result€-185k-€-328k▼ 77.4%€-256k▲ 21.9%€-297k▼ 15.8%€-1.60M▼ 439%

Net result€-185k-€-323k▼ 74.5%€-265k▲ 18.1%€-298k▼ 12.7%€-2.00M▼ 572%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €1.60M in 2025 against €297k in 2024; the loss grows and 2025 has the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €280k

97.0%

Fixed assets €8k ▼ 98.1%

Current assets €271k ▼ 83.5%

Key figures and ratios

2025 value · change against 2024

EBITDA

€-1.60M▼

2024 · €-294k

Cash flow

€-2.00M▼

2024 · €-295k

Solvency

-507.5%▼

2024 · 20.7%

Current ratio

1.42▼

2024 · 9.92

Debt to equity

-1.20▼

2024 · 3.84

ROA

-716.2%▼

2024 · -14.3%

Interest coverage

-29.15▼

2024 · -8.04

Debt

€1.70M▲

2024 · €1.65M

Debt ≤ 1 year

€191k▲

2024 · €166k

Debt > 1 year

€1.37M▲

2024 · €1.32M

Staff costs

€359k▲

2024 · €0

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 · 49 lines

Balance sheet Code20242025

Assets

Total assets20/58€2.08M€280k▼

Fixed assets21/28€434k€8k▼

Intangible fixed assets21€6k€6k▼

Tangible fixed assets22/27€4k€3k▼

Furniture and vehicles24€477€0▼

Other tangible fixed assets26€4k€3k▼

Financial fixed assets28€424k€0▼

Current assets29/58€1.65M€271k▼

Amounts receivable after more than one year29€10k€0▼

Other amounts receivable291€10k€0▼

Amounts receivable within one year40/41€1.14M€163k▼

Trade receivables40€221k€163k▼

Other amounts receivable41€915k€0▼

Cash at bank and in hand54/58€487k€99k▼

Deferred charges and accrued income490/1€12k€9k▼

Equity and liabilities

Total equity and liabilities10/49€2.08M€280k▼

Equity10/15€429k€-1.42M▼

Contributions10/11€1.50M€1.65M▲

Profit (loss) carried forward14€-1.07M€-3.07M▼

Amounts payable17/49€1.65M€1.70M▲

Amounts payable after more than one year17€1.32M€1.37M▲

Financial debts170/4€1.28M€1.28M=

Other amounts payable178/9€36k€91k▲

Amounts payable within one year42/48€166k€191k▲

Financial debts43€129€160▲

Credit institutions430/8€129€160▲

Trade debts44€154k€92k▼

Suppliers440/4€154k€92k▼

Taxes, remuneration and social security45€12k€98k▲

Taxes450/3€12k€29k▲

Remuneration and social security454/9-€69k

Accrued charges and deferred income492/3€167k€137k▼

Income statement Code20242025

Remuneration, social security and pensions62€0€359k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k€1.27M▲

Other operating charges640/8€968€0▼

Gross operating margin9900€-291k€35k▲

Operating profit (loss)9901€-297k€-1.60M▼

Financial income75/76B€35k€53k▲

Recurring financial income75€35k€53k▲

Financial charges65/66B€37k€455k▲

Recurring financial charges65€37k€55k▲

Non-recurring financial charges66B-€400k

Profit (loss) for the period before taxes9903€-298k€-2.00M▼

Profit (loss) for the period9904€-298k€-2.00M▼

Profit (loss) for the period to be appropriated9905€-298k€-2.00M▼

Appropriation of the result

Profit (loss) to be appropriated9906€-1.07M€-3.07M▼

Profit (loss) brought forward from the previous period14P€-772k€-1.07M▼

Social balance

Average headcount (FTE)90870.06.9▲

The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 8Financial 1Gazette 2Filings 5

Next filing, fiscal year 2026, expected by 31-07-2027

2026

17-08

State Gazette act Appointment: CDP De Wulf & C° (statutory auditor)

Permanent representative: Sébastien Van der Fraenen3 facts ▸

General meeting, 24/06/2025
Auditor appointment, CDP De Wulf & C° (statutory auditor)
Permanent representative, Sébastien Van der Fraenen (permanent representative)

06-08

State Gazette act Resignation: LIMBOSCH Caroline (director)

Permanent representatives: PHILIPPE Isabelle, de VIRON Louis and 2 others · Purpose change · Capital increase12 facts ▸

General meeting, 22/07/2026
Purpose change, La société a pour objet, tant en Belgique qu’à l’étranger, pour compte propre ou pour le compte de tiers, ou en participation avec ceux-ci : - l’établissement e…
Capital increase, €1.389.662,95
Share issue, nouvelles actions de même nature et jouissant des mêmes droits et avantages que les actions existantes
Capital
Director resignation, LIMBOSCH Caroline (director)
Director discharge, LIMBOSCH Caroline
Permanent representative, PHILIPPE Isabelle
Permanent representative, de VIRON Louis
Permanent representative, HERINCKX Gaëtan
Permanent representative, VAN BUNNEN Jean
Statutes amendment

28-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-2.00M

Net result drops to €-2.00M, the lowest in the series.

30-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

03-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

19-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

25-07

NBB filing Annual accounts filed

fiscal year 2021 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2026

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

22-07-2026 Resigned as Director

Location & real-estate footprint

Registered office, Brussel · 4 establishment units since 2021

establishment 2 of 4 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kantersteen 121000 Brussel

Ground area

5,521 m²

Building footprint

5,431 m²

Volume, LiDAR

89,670 m³

2 parcels, Brussels, Flanders · tallest building 26.2 m, ±7 floors. Linked by address, not a title deed.

4 establishment units

BeCode SRL

Kantersteen 12, 1000 BrusselEmployment activities

since 20212.325.415.939

BeCode SRL

Square des Martyrs 1, 6000 CharleroiTemporary employment agencies and other provision of personnel

since 20252.372.784.405

BeCode SRL

Bisdomplein 3, 9000 GentTemporary employment agencies and other provision of personnel

since 20252.372.784.702

BeCode SRL

Voie Gisèle Halimi 10, 4000 LiègeTemporary employment agencies and other provision of personnel

since 20252.372.784.801

2 parcels

Flanders 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21804D1049/00D002 ProtectedMonumentCentraal StationSource ↗	Brussels	4,348 m²	1 · 4,347 m²	26.2 m · 7 fl.
44803C0556/00B002	Flanders	1,173 m²	1 · 1,085 m²	18.8 m · 4 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 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).

Statutory auditor

1 auditor

CDP De Wulf & C°Current

Statutory auditor · represented by Sébastien Van der Fraenen

17-08-2026 → present

Structure & network

Capital and shareholders

Capital over the years

06-08-2026 Capital increase of 1,389,662.95 EUR · in kind

Recognitions · licences · registrations

Quality registration as a provider

1 live approval

Quality registration as a provider

Toegekend · valid until 2027-03-16

Legal Entity Identifier

699400AD11NE9KU53R64

live in the LEI register

Similar companies · same sector, comparable size

Centre de Formation Bonnevie

BE 0434.883.068

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Brasschaat · Eq €436k

Vrachni Services

BE 1002.357.814

Aartselaar · Eq €423k

ACTA INTERIM

BE 0456.332.045

Verviers · Eq €442k

Of 1,014 companies in sector 78200 we hold annual accounts for 645. 424 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded09-03-2021

Fiscal year end31-12

Abbreviation FR BeCode

Activities, NACEBEL 2025

78200Temporary employment agencies and other provision of personnel

85592Vocational training

Sources

Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.