BIOXODES
ActiveSummary
BIOXODES has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1.7m) and a net result of -€3.4m. Equity is shrinking by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 8% of 193 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency3▼-62
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.35 against 2.0 in 2024; short-term debt: 81.4% and cash: 26.5% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · 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 2025Solvency, return and age of the figures
Solvency
-21.6%
Return on assets
-44.8%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€1.7m
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
15 d early
2023
8 d early
2022
17 d early
2021
23 d late
2020
18 d early
2019
4 d late
← 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 9 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 32% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence 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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3.4m▲ 14.4%
2024 · -€4.0m
Working capital
-€4.1m
2024 · €1.1m
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-€2.2m▼ 8.5%-€2.0m▲ 8.3%-€4.9m▼ 145%-€4.0m▲ 17.6%-€3.2m▲ 20.7%
Net result-€2.2m▼ 8.4%-€2.0m▲ 7.6%-€4.9m▼ 143%-€4.0m▲ 17.6%-€3.4m▲ 14.4%
Equity€9.2m▲ 39.2%€6.7m▼ 27.0%€6.9m▲ 3.0%€2.8m▼ 59.4%-€1.7m
Total assets€11.4m▲ 32.0%€9.0m▼ 21.2%€10.3m▲ 14.4%€7.0m▼ 31.9%€7.7m▲ 9.9%
Debt€2.2m▲ 8.2%€2.2m▲ 3.7%€3.3m▲ 48.6%€4.2m▲ 25.3%€9.3m▲ 123%
Working capital€5.8m▲ 173%€2.9m▼ 49.8%€4.0m▲ 38.1%€1.1m▼ 72.8%-€4.1m
Staff (FTE)6.9▲ 25.5%8.8▲ 27.5%8.8=8.8=7.7▼ 12.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3.2m in 2025 against €4.0m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.7m
Fixed assets
€5.5m ▲ 14.0%
Current assets
€2.2m ▲ 0.7%
Key figures and ratios
EBITDA
-€1.3m▲
2024 · -€1.9m
Cash flow
-€1.5m▲
2024 · -€1.9m
Solvency
-21.6%▼
2024 · 40.2%
Current ratio
0.35▼
2024 · 2.00
Debt to equity
-5.62▼
2024 · 1.49
ROA
-44.8%▲
2024 · -57.5%
Interest coverage
-4.83▲
2024 · -334.87
Debt ≤ 1 year
€6.3m▲
2024 · €1.1m
Debt > 1 year
€3.1m=
2024 · €3.1m
Income taxes
€1,359▼
2024 · €1,388
Staff costs
€1.1m▲
2024 · €987,021
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 6,943 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €270 | - |
| Remuneration, social security and pensions62 | €584,398 | €1.0m | €1.1m | €987,021 | €1.1m | ▲ 16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.3m | €1.9m | €2.1m | €2.1m | €1.9m | ▼ 10.1% |
| Other operating charges640/8 | €858 | €4,450 | €4,869 | €1,147 | €5,399 | ▲ 371% |
| Non-recurring operating charges66A | - | - | - | €629 | €0 | ▼ 100% |
| Gross operating margin9900 | €757,974 | €972,834 | -€1.7m | -€888,611 | -€112,453 | ▲ 87.3% |
| Operating profit (loss)9901 | -€2.2m | -€2.0m | -€4.9m | -€4.0m | -€3.2m | ▲ 20.7% |
| Financial income75/76B | €0 | €45 | €218 | €2,020 | €5,567 | ▲ 176% |
| Recurring financial income75 | €0 | €45 | €218 | €2,020 | €5,567 | ▲ 176% |
| Financial charges65/66B | €3,097 | €17,677 | €3,776 | €5,606 | €261,590 | ▲ 4,566% |
| Recurring financial charges65 | €3,097 | €17,677 | €3,776 | €5,606 | €261,590 | ▲ 4,566% |
| Profit (loss) for the period before taxes9903 | -€2.2m | -€2.0m | -€4.9m | -€4.0m | -€3.4m | ▲ 14.4% |
| Income taxes67/77 | €413 | €875 | €1,318 | €1,388 | €1,359 | ▼ 2.1% |
| Profit (loss) for the period9904 | -€2.2m | -€2.0m | -€4.9m | -€4.0m | -€3.4m | ▲ 14.4% |
| Profit (loss) for the period to be appropriated9905 | -€2.2m | -€2.0m | -€4.9m | -€4.0m | -€3.4m | ▲ 14.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.4m | €9.0m | €10.3m | €7.0m | €7.7m | ▲ 9.9% |
| Fixed assets21/28 | €5.0m | €5.2m | €4.8m | €4.8m | €5.5m | ▲ 14.0% |
| Intangible fixed assets21 | €5.0m | €5.2m | €4.8m | €4.8m | €5.5m | ▲ 14.1% |
| Tangible fixed assets22/27 | €21,097 | €20,330 | €15,175 | €10,717 | €10,318 | ▼ 3.7% |
| Plant, machinery and equipment23 | €2,562 | €1,630 | €699 | €0 | - | - |
| Furniture and vehicles24 | €16,936 | €17,318 | €12,229 | €8,804 | €8,740 | ▼ 0.7% |
| Other tangible fixed assets26 | €1,599 | €1,381 | €2,248 | €1,913 | €1,578 | ▼ 17.5% |
| Financial fixed assets28 | €174 | €174 | €174 | €174 | €174 | = |
| Current assets29/58 | €6.3m | €3.8m | €5.4m | €2.2m | €2.2m | ▲ 0.7% |
| Amounts receivable within one year40/41 | €103,124 | €127,249 | €452,508 | €849,520 | €138,933 | ▼ 83.6% |
| Trade receivables40 | €196 | €0 | €305,740 | €1,500 | €8,641 | ▲ 476% |
| Other amounts receivable41 | €102,928 | €127,249 | €146,768 | €848,020 | €130,292 | ▼ 84.6% |
| Cash at bank and in hand54/58 | €6.2m | €3.7m | €5.0m | €1.3m | €2.0m | ▲ 54.5% |
| Deferred charges and accrued income490/1 | €8,266 | €6,916 | €9,448 | €12,594 | €20,913 | ▲ 66.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.4m | €9.0m | €10.3m | €7.0m | €7.7m | ▲ 9.9% |
| Equity10/15 | €9.2m | €6.7m | €6.9m | €2.8m | -€1.7m | ▼ 159% |
| Contributions10/11 | €14.3m | €5.7m | €9.4m | €9.5m | €395,844 | ▼ 95.8% |
| Capital10 | €690,662 | €690,662 | €1.1m | €1.1m | €395,844 | ▼ 62.9% |
| Issued capital100 | €690,662 | €690,662 | €1.1m | €1.1m | €395,844 | ▼ 62.9% |
| Outside capital11 | €13.6m | €5.0m | €8.4m | €8.4m | €0 | ▼ 100% |
| Share premium1100/10 | €13.6m | €5.0m | €8.4m | €8.4m | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€6.7m | -€175,189 | -€5.1m | -€9.1m | -€3.4m | ▲ 62.1% |
| Investment grants15 | €1.7m | €1.2m | €2.5m | €2.4m | €1.4m | ▼ 42.7% |
| Amounts payable17/49 | €2.2m | €2.2m | €3.3m | €4.2m | €9.3m | ▲ 123% |
| Amounts payable after more than one year17 | €1.6m | €1.3m | €1.9m | €3.1m | €3.1m | = |
| Other amounts payable178/9 | €1.6m | €1.3m | €1.9m | €3.1m | €3.1m | = |
| Amounts payable within one year42/48 | €558,917 | €891,675 | €1.4m | €1.1m | €6.3m | ▲ 473% |
| Current portion of amounts payable after more than one year42 | €400,084 | €636,033 | €871,982 | - | - | - |
| Financial debts43 | - | - | - | - | €5.8m | - |
| Other loans439 | - | - | - | - | €5.8m | - |
| Trade debts44 | €90,115 | €139,551 | €399,825 | €538,747 | €400,495 | ▼ 25.7% |
| Suppliers440/4 | €90,115 | €139,551 | €399,825 | €538,747 | €400,495 | ▼ 25.7% |
| Taxes, remuneration and social security45 | €68,719 | €116,091 | €155,239 | €181,268 | €103,874 | ▼ 42.7% |
| Taxes450/3 | €686 | €1,148 | €6,607 | €29,844 | €3,026 | ▼ 89.9% |
| Remuneration and social security454/9 | €68,032 | €114,942 | €148,632 | €151,423 | €100,848 | ▼ 33.4% |
| Other amounts payable47/48 | - | - | - | €371,639 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €52,576 | €33,144 | €28,635 | €25,272 | €23,022 | ▼ 8.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2.2m | -€2.0m | -€4.9m | -€4.0m | -€3.4m | ▲ 14.4% |
| + Depreciation and write-downs630 | €2.3m | €1.9m | €2.1m | €2.1m | €1.9m | ▼ 10.1% |
| Operating cash flow (approximation) | €169,208 | -€56,600 | -€2.8m | -€1.9m | -€1.5m | ▲ 19.2% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€1.8m | -€2.1m | -€2.6m | ▼ 22.5% |
| Change in cash | - | -€2.6m | €1.3m | -€3.7m | €718,527 | ▲ 120% |
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
07-08
State Gazette act
Reappointments: SRL XMF, SRL PHMBIO+ and 3 othersPermanent representatives: Marc DECHAMPS, Philippe MONTEYNE and 4 others · Appointment: SRL PwC Réviseurs d'Enreprises (statutory auditor)17 facts ▸
State Gazette act
Reappointments: SRL XMF, SRL PHMBIO+ and 3 others
Permanent representatives: Marc DECHAMPS, Philippe MONTEYNE and 4 others · Appointment: SRL PwC Réviseurs d'Enreprises (statutory auditor)17 facts ▸
- General meeting, 30-06-2026
- Director reappointment, SRL XMF (director)
- Permanent representative, Marc DECHAMPS (permanent representative)
- Director reappointment, SRL PHMBIO+ (director)
- Permanent representative, Philippe MONTEYNE (permanent representative)
- Director reappointment, SC CAPITAL & CROISSANCE (director)
- Permanent representative, Pierre DETRIXHE (permanent representative)
- Director reappointment, SA S.F.P.I. (Société Fédérale de Participations et d'Investissements) (director)
- Permanent representative, François FONTAINE (permanent representative)
- Director reappointment, SAS CROUGHS R&D CONSULTING (director)
- Permanent representative, Thérèse CROUGHS (permanent representative)
- Board meeting, 03-07-2026
- +5 further facts in this act
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€4.9m
Net result drops to -€4.9m, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 23 days late
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
04-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 4 days late
2019
31-12
Financial
Equity above €5mEq €7.9m ▲284%
Equity rises from €2.1m to €7.9m.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 8 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 32 acts read
About the unread acts
Of the 32 Belgian State Gazette acts we know for this company, 1 has been read. The other 31 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26101729). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 6
CAPITAL & CROISSANCE
CurrentDirector · since 01-07-2026 · Cooperative company · perm. rep.: Pierre DETRIXHE
PHMBIO+
CurrentDirector · since 01-07-2026 · Private limited company · perm. rep.: Philippe MONTEYNE
SAS CROUGHS R&D CONSULTING
CurrentDirector · since 01-07-2026 · Legal entity · perm. rep.: Thérèse CROUGHS
SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT
CurrentDirector · since 01-07-2026 · Public limited company · perm. rep.: François FONTAINE
XMF
CurrentDirector · since 01-07-2026 · Private limited company · perm. rep.: Marc DECHAMPS
SA S.F.P.I. (Société Fédérale de Participations et d'Investissements)
CurrentDirector · Legal entity · from a recent act
Permanent representatives 5
François FONTAINE
CurrentPermanent representative · since 01-07-2026 · for SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT
Marc DECHAMPS
CurrentPermanent representative · since 01-07-2026 · for XMF
Philippe MONTEYNE
CurrentPermanent representative · since 01-07-2026 · for PHMBIO+
Pierre DETRIXHE
CurrentPermanent representative · since 01-07-2026 · for CAPITAL & CROISSANCE
Thérèse CROUGHS
CurrentPermanent representative · since 01-07-2026 · for SAS CROUGHS R&D CONSULTING
Statutory auditor 1
SRL PwC Réviseurs d'Enreprises
CurrentStatutory auditor · since 06-02-2025 · perm. rep.: DIdier DELANOYE
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
31 of this company's 32 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Charleroi · 1 establishment unit since 2010
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.
Rue Santos - Dumont 16041 Charleroi1 establishment unit
BIOXODES
since 20102.187.055.535
Mandate history
7 people since 2025, 7 in office
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| CAPITAL & CROISSANCE |
|
| PHMBIO+ |
|
| SAS CROUGHS R&D CONSULTING |
|
| SOCIETE FEDERALE DE PARTICIPATIONS ET D'INVESTISSEMENT |
|
| XMF |
|
| SA S.F.P.I. (Société Fédérale de Participations et d'Investissements)from an act |
|
| SRL PwC Réviseurs d'Enreprises |
|
Structure & network
Owners and holdings
2 ownersOwners 2
- 24.65%
-
13.96%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
32 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Aphea.Bio
Shared corporate director
→
ASCO INDUSTRIES
Shared corporate director
→
Aviapartner Belgium
Shared corporate director
→
Banqup Group
Shared corporate director
→
Show 28 more companies with a shared director
Belgian Mobile ID
Shared corporate director
→
BeLightning
Shared corporate director
→
BioSenic
Shared corporate director
→
CALYOS
Shared corporate director
→
CISSOID
Shared corporate director
→
COMET TRAITEMENTS
Shared corporate director
→
COMET TYRE RECYCLING
Shared corporate director
→
COMETSAMBRE
Shared corporate director
→
ELECTRAWINDS
Shared corporate director
→
EPICS THERAPEUTICS
Shared corporate director
→
EPIMEDE
Shared corporate director
→
Fund+
Shared corporate director
→
HEX - RAYS
Shared corporate director
→
Inbiose
Shared corporate director
→
LINEAS
Shared corporate director
→
LINEAS GROUP
Shared corporate director
→
OncoDNA
Shared corporate director
→
Orizio
Shared corporate director
→
Palais des Congrès
Shared corporate director
→
Publiwind
Shared corporate director
→
Sabena Aerospace Engineering
Shared corporate director
→
SmartSec
Shared corporate director
→
Société Anonyme Belge de Constructions Aéronautiques
Shared corporate director
→
Société Nationale de Construction Aérospatiale
Shared corporate director
→
SPARKI
Shared corporate director
→
THEODORUS IV
Shared corporate director
→
VIVES II - Louvain Technology Fund
Shared corporate director
→
ZEPHYR - FIN
Shared corporate director
→
Similar companies · same sector, comparable size
Dr. J. Bellon
BE 0456.618.392
Buggenhout · Eq €2,851,520
Dr. Lieven WOSTYN
BE 0467.516.640
Koksijde · Eq €2,701,745
EXO Biologics
BE 0732.982.379
Liège · Eq €2,927,249
Montis Biosciences
BE 0730.979.429
Leuven · Eq €2,945,172
K5 Therapeutics
BE 0757.718.072
Leuven · Eq €2,959,218
Of 762 companies in sector 72101 we hold annual accounts for 483. 241 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
Founded20-04-2010
Fiscal year end31-12
Activities, NACEBEL 2025
72101Research and development on biotechnology
E-invoicing
Reachable via Peppol
Peppol ID
0208:0825151779
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.