CODA
ActiveSummary
CODA has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €8.7m and a net result of €322,933. Equity is growing by ~8.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700,000 at 30 days acceptable
Liquidity ample (current ratio 40.04 against 53.61 in 2023; short-term debt: 1.3% and cash: 3.8% of total assets), and 15.1% of the assets are financed with debt.
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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 2024Solvency, return and age of the figures
Solvency
84.9%
Return on assets
3.1%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-09-2025, 46 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
46 d late
2023
411 d late
2022
777 d late
2021
1139 d late
2020
1502 d late
2019
1861 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 956 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€8.7m▲ 3.3%
2023 · €8.4m
Total assets
€10.3m▲ 2.1%
2023 · €10.0m
Net result
€322,933▲ 1.1%
2023 · €319,416
Working capital
€5.2m▲ 5.9%
2023 · €4.9m
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
Line20202021202220232024
Operating result€294,951€1.4m▲ 366%€57,056▼ 95.9%€275,371▲ 383%€295,264▲ 7.2%
Net result€309,870€1.4m▲ 351%€74,535▼ 94.7%€319,416▲ 329%€322,933▲ 1.1%
Equity€6.4m▲ 18.4%€8.0m▲ 24.5%€8.0m▲ 0.4%€8.4m▲ 5.0%€8.7m▲ 3.3%
Total assets€8.5m▲ 39.4%€9.9m▲ 16.2%€9.8m▼ 1.5%€10.0m▲ 2.7%€10.3m▲ 2.1%
Debt€2.1m▲ 201%€1.9m▼ 8.8%€1.8m▼ 9.5%€1.6m▼ 8.0%€1.5m▼ 4.4%
Working capital€3.5m▲ 76.3%€4.9m▲ 41.8%€4.9m▼ 1.0%€4.9m▲ 0.9%€5.2m▲ 5.9%
Staff (FTE)00000
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 7% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.3m
Fixed assets
€4.9m ▼ 2.4%
Current assets
€5.3m ▲ 6.6%
Equity and liabilities €10.3m
Equity
€8.7m ▲ 3.3%
Debt
€1.5m ▼ 4.4%
Debt's share of the balance-sheet total falls from 16.1% to 15.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€507,635▲
2023 · €485,521
Cash flow
€535,304▲
2023 · €529,566
Current ratio
40.04▼
2023 · 53.61
Debt to equity
0.18▼
2023 · 0.19
ROE
3.7%▼
2023 · 3.8%
ROA
3.1%▼
2023 · 3.2%
Interest coverage
29.01▲
2023 · 26.56
Debt ≤ 1 year
€133,253▲
2023 · €93,372
Debt > 1 year
€1.2m▼
2023 · €1.3m
Staff costs
€83▼
2023 · €7,517
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 1,860 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €68 | €17,180 | €7,517 | €83 | ▼ 98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €157,003 | €186,631 | €199,271 | €210,150 | €212,371 | ▲ 1.1% |
| Other operating charges640/8 | €536 | €3,133 | €208 | €45,580 | €5,498 | ▼ 87.9% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €452,490 | €1.6m | €273,716 | €538,619 | €513,216 | ▼ 4.7% |
| Operating profit (loss)9901 | €294,951 | €1.4m | €57,056 | €275,371 | €295,264 | ▲ 7.2% |
| Financial income75/76B | €34,538 | €40,465 | €40,341 | €62,322 | €45,168 | ▼ 27.5% |
| Recurring financial income75 | €34,538 | €40,465 | €40,341 | €62,322 | €45,168 | ▼ 27.5% |
| Financial charges65/66B | €19,619 | €20,083 | €22,862 | €18,277 | €17,499 | ▼ 4.3% |
| Recurring financial charges65 | €19,619 | €20,083 | €22,862 | €18,277 | €17,499 | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | €309,870 | €1.4m | €74,535 | €319,416 | €322,933 | ▲ 1.1% |
| Profit (loss) for the period9904 | €309,870 | €1.4m | €74,535 | €319,416 | €322,933 | ▲ 1.1% |
| Profit (loss) for the period to be appropriated9905 | €309,870 | €1.4m | €74,535 | €319,416 | €322,933 | ▲ 1.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.5m | €9.9m | €9.8m | €10.0m | €10.3m | ▲ 2.1% |
| Fixed assets21/28 | €4.8m | €4.9m | €4.8m | €5.0m | €4.9m | ▼ 2.4% |
| Tangible fixed assets22/27 | €4.8m | €4.8m | €4.8m | €5.0m | €4.9m | ▼ 2.4% |
| Land and buildings22 | €4.7m | €4.7m | €4.7m | €4.9m | €4.8m | ▼ 2.4% |
| Plant, machinery and equipment23 | €64,433 | €76,887 | €62,472 | €43,136 | €50,298 | ▲ 16.6% |
| Furniture and vehicles24 | €53,025 | €47,217 | €42,231 | €42,924 | €32,615 | ▼ 24.0% |
| Financial fixed assets28 | €10,060 | €10,060 | €10,060 | €10,060 | €10,060 | = |
| Current assets29/58 | €3.7m | €5.1m | €5.0m | €5.0m | €5.3m | ▲ 6.6% |
| Amounts receivable within one year40/41 | €2.2m | €2.8m | €3.2m | €3.6m | €3.3m | ▼ 9.8% |
| Trade receivables40 | €176,703 | €386,034 | €328,333 | €256,831 | €133,661 | ▼ 48.0% |
| Other amounts receivable41 | €2.0m | €2.4m | €2.9m | €3.3m | €3.1m | ▼ 6.9% |
| Current investments50/53 | - | - | - | - | €1.7m | - |
| Cash at bank and in hand54/58 | €1.5m | €2.3m | €1.7m | €1.4m | €387,657 | ▼ 72.2% |
| Deferred charges and accrued income490/1 | €0 | - | €4,382 | €4,624 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.5m | €9.9m | €9.8m | €10.0m | €10.3m | ▲ 2.1% |
| Equity10/15 | €6.4m | €8.0m | €8.0m | €8.4m | €8.7m | ▲ 3.3% |
| Contributions10/11 | €840,828 | €840,828 | €840,828 | €840,828 | €840,828 | = |
| Reserves13 | €750,000 | €0 | - | - | - | - |
| Non-distributable reserves130/1 | €750,000 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €750,000 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | €3.8m | €5.9m | €6.0m | €6.3m | €6.7m | ▲ 5.1% |
| Investment grants15 | €1.0m | €1.2m | €1.2m | €1.3m | €1.2m | ▼ 3.5% |
| Amounts payable17/49 | €2.1m | €1.9m | €1.8m | €1.6m | €1.5m | ▼ 4.4% |
| Amounts payable after more than one year17 | €1.5m | €1.5m | €1.4m | €1.3m | €1.2m | ▼ 5.7% |
| Financial debts170/4 | €1.5m | €1.5m | €1.4m | €1.3m | €1.2m | ▼ 5.7% |
| Amounts payable within one year42/48 | €278,903 | €164,339 | €124,496 | €93,372 | €133,253 | ▲ 42.7% |
| Current portion of amounts payable after more than one year42 | €70,894 | €71,791 | €72,699 | €73,570 | €74,548 | ▲ 1.3% |
| Trade debts44 | €208,008 | €92,420 | €51,797 | €19,802 | €58,705 | ▲ 196% |
| Suppliers440/4 | €208,008 | €92,420 | €51,797 | €19,802 | €58,705 | ▲ 196% |
| Other amounts payable47/48 | - | €128 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €326,250 | €326,250 | €253,750 | €217,500 | €181,250 | ▼ 16.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €309,870 | €1.4m | €74,535 | €319,416 | €322,933 | ▲ 1.1% |
| + Depreciation and write-downs630 | €157,003 | €186,631 | €199,271 | €210,150 | €212,371 | ▲ 1.1% |
| Operating cash flow (approximation) | €466,872 | €1.6m | €273,806 | €529,566 | €535,304 | ▲ 1.1% |
| Investment in fixed assets (approximation) | - | -€240,417 | -€136,913 | -€459,863 | -€89,445 | ▲ 80.5% |
| Change in cash | - | €732,567 | -€524,002 | -€347,989 | -€1.0m | ▼ 189% |
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
2025
15-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 46 days late
15-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 411 days late
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 777 days late
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1139 days late
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 1502 days late
04-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 1861 days late
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 2220 days late
2021
31-12
Financial
Highest result since 2018net €1.4m ▲351%
Operating result €1.4m, net result €1.4m, both a record.
31-12
Financial
Liquidity doublescurrent ratio 30.92
Current ratio from 13.43 to 30.92; short-term debt falls from €278,903 to €164,339.
2020
31-12
Financial
Back to profitnet €309,870
Net result €309,870 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 13.43
Current ratio from 3.78 to 13.43; short-term debt falls from €708,235 to €278,903.
2019
31-12
Financial
Weakest financial yearnet -€39,304
Net result drops to -€39,304, the lowest in the series; recovery starts the following year.
Show earlier events
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
02-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 2 days late
2015
04-02
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 188 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Wuustwezel
Ground area
2.4 ha
Building footprint
2,459 m²
Volume, LiDAR
1,910 m³
Parcel 11682G0404/00F003, Flanders · tallest building 9.0 m. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11682G0404/00F003 | Flanders | 2.4 ha | 1 · 2,459 m² | 9.0 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 156,351 EUR awarded · 156,351 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 41,891 EUR | 41,891 EUR |
| 2024 | 1 | 38,462 EUR | 38,462 EUR |
| 2023 | 2 | 40,050 EUR | 40,050 EUR |
| 2022 | 3 | 35,948 EUR | 35,948 EUR |
Schemes
Recognitions · licences · registrations
Care and welfare
4 services · 1 livelokaal dienstencentrum Café Coda
Coda
Coda
Regionaal Dienstencentrum Coda
Identification & contact
Identification
Legal formNon-profit association
Founded15-03-1994
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0452673957
Registered
11-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.