Equity
€397,943 ▲ 5.8%
CABCODE has made a profit without a break since 2014.
CABCODE
Lifetime
16 annual accounts with figures on one time axispeak €179,923 (2022)
€41,095▼ 37.2%
lowest -€8,751 (2013)
€21,990▼ 56.9%
peak €397,943 (2025)
€397,943▲ 5.8%
€86,463▲ 14.4%
Board2 names since 2021
2 directorsJacques CARDON and 1 other
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from €65,390 to €41,095Result from €50,987 to €21,990Cash from €1,311 to €6,571
Key points
from the 2025 annual accountsFilings
16 annual accounts since 2010
Five of the last ten came late. The 2025 accounts came latest: 31 days after the end of the period.
Position in the sector
€397,943
More equity than 90% of companies in advertising and market research. Sector median €58,792 · 8,624 companies.
Checked score
87
Excellent
Financially stronger than 55% of micro companies in advertising and market research (NACE 73)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,231 companies (NACE 73, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.2%▲ +0.1 percentage points vs 03-2025
05-2025: 0.1%▼ -0.1 percentage points vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.5%▲ +0.3 percentage points vs 07-2026highest value
09-2026: 0.3%▼ -0.2 percentage points vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
Liquidity: current ratio 5.69, cash €6,571
lowers risk
Founded in 2009
Equity €397,943 (82.2% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 87% of them on solvency, 31% on liquidity, 46% on profitability and 55% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,049 companies had the same profile as CABCODE has now. Each dot stands for 16 companies, two years later.
95.9%
were still trading
3.6%
stopped another way
0.4%
went bankrupt
That fits the bankruptcy probability of CABCODE itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,049 companies, not a prediction for CABCODE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €30,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.69 (5.65 in 2024), above the usual 1.5. Short-term debt is 17% and cash 1.4% of total assets. 17.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
2 days early
2023
9 days early
2022
20 days early
2021
19 days early
2020
16 days late
2019
3 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0818378805
Changes of role: Jacques CARDON (director) and Marthe ZANGAS (director)
General meeting of 01-12-2023 · Gazette deed
First establishment
Rue de Fétinne 83, Liège
Incorporation
published on 11-09-2009 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CABCODE Liège | €484,406 | €41,095 | 82.2% | - |
| CRUZ CONTROL Waterloo | €474,177 | €36,983 | 4.3% | - |
| ANTONY & ANTONY Bertem | €451,706 | €40,201 | 61.2% | - |
| QUANTEN ARD Tervuren | €536,113 | €43,585 | 20.5% | - |
| TREEKIDS Etterbeek | €557,204 | €32,709 | 72.9% | - |
| SPICYMOTION Grimbergen | €432,655 | €49,731 | -10.7% | - |
| GREEN DOTS Zottegem | €415,831 | €51,037 | 19.9% | - |
These companies have the same main activity as CABCODE: advertising agencies (NACE 73110). They are comparable in size and age: total assets between €416,000 and €557,000, founded between 2007 and 2011.
Official details
Source: KBO- Status
- Active since 09-09-2009Normal situation
- Activity
- Advertising agenciesNACE 73110and 1 other
- Establishment unit
- 2.181.612.1524020 Liège, since 14-10-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 15-12-2025
Insights on CABCODE
CABCODE files the micro format. That format states no turnover. The gross margin rose from €25,050 in 2010 to €41,095 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CABCODE
- What is the company number of CABCODE?
- The company number of CABCODE is 0818.378.805. The VAT number is the same number with BE in front: BE 0818.378.805.
- Where is CABCODE based?
- The registered office is at Rue de Fétinne 83, 4020 Liège.Company details
- What does CABCODE do?
- According to the KBO register, the main activity is advertising agencies (NACE 73110).
- What is the legal form of CABCODE?
- CABCODE is a private limited company (BV).
- When was CABCODE founded?
- CABCODE was founded on 09-09-2009.
- Is CABCODE still active?
- Yes, CABCODE is an active enterprise in the KBO register.
- What is the turnover of CABCODE?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €41,095 and 45 comparable companies (NACE 73). It probably lies between €76,000 and €150,000.Financials
- Is CABCODE profitable?
- In financial year 2025, CABCODE made a profit of €21,990.
- Where can I find the annual accounts of CABCODE?
- CABCODE filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CABCODE due?
- CABCODE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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