CODABEL GROUPE
ActiveSummary
The computed 12-month bankruptcy probability of CODABEL GROUPE is 4.6% (elevated). The 2024 annual accounts show equity of €2.9m and a net result of -€64,268. Equity is shrinking by ~66.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability36▲+18
Solvency56▲+31
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
4.6%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.0 against 0.46 in 2023; short-term debt: 7.8% and cash: 0% of total assets), and 69.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 2024Solvency, return and age of the figures
Solvency
30.5%
Return on assets
-0.7%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-12-2025, 127 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
127 d late
2023
114 d late
2022
123 d late
2021
52 d early
2020
57 d late
2019
3 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 62 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€64,268▼ 212%
2023 · -€20,616
Working capital
-€742,749▼ 23,743%
2023 · -€3,115
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-€2,274▼ 61.7%-€1,703▲ 25.1%-€10,497▼ 516%-€20,374▼ 94.1%-€64,268▼ 215%
Net result-€8,856▼ 509%-€12,716▼ 43.6%-€10,524▲ 17.2%-€20,616▼ 95.9%-€64,268▼ 212%
Equity€2,090▼ 80.9%-€10,626-€21,150▼ 99.0%-€41,766▼ 97.5%€2.9m
Total assets€703,732▲ 4.5%€9.5m▲ 1,253%€9.5m▲ 0.1%€9.5m▼ 0.1%€9.5m▼ 0.2%
Debt€701,642▲ 5.9%€9.5m▲ 1,259%€9.6m▲ 0.3%€9.6m▲ 0.1%€6.6m▼ 31.0%
Working capital-€664,624▼ 1.4%-€9.5m▼ 1,332%-€9.5m▼ 0.3%-€3,115▲ 100.0%-€742,749▼ 23,743%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €64,268 in 2024 against €20,374 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €9.5m
Fixed assets
€9.5m ▼ 0.2%
Current assets
€1,671 ▼ 37.2%
Equity and liabilities €9.5m
Equity
€2.9m
Debt
€6.6m
Debt finances 69.5% of the balance-sheet total.
Key figures and ratios
EBITDA
-€46,133▼
2023 · -€18,136
Cash flow
-€46,133▼
2023 · -€18,378
Current ratio
0.00▼
2023 · 0.46
Debt to equity
2.27
ROE
-2.2%
ROA
-0.7%▼
2023 · -0.2%
Debt ≤ 1 year
€744,420▲
2023 · €5,775
Debt > 1 year
€5.9m▼
2023 · €9.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €2,012 | €2,238 | €18,135 | ▲ 710% |
| Other operating charges640/8 | - | €348 | €348 | €960 | €4,200 | ▲ 337% |
| Gross operating margin9900 | -€1,926 | -€1,356 | -€8,138 | -€17,175 | -€41,933 | ▼ 144% |
| Operating profit (loss)9901 | -€2,274 | -€1,703 | -€10,497 | -€20,374 | -€64,268 | ▼ 215% |
| Financial charges65/66B | - | €11,013 | €26 | €242 | - | - |
| Recurring financial charges65 | €6,582 | €11,013 | €26 | €242 | - | - |
| Profit (loss) for the period before taxes9903 | -€8,856 | -€12,716 | -€10,524 | -€20,616 | -€64,268 | ▼ 212% |
| Profit (loss) for the period9904 | -€8,856 | -€12,716 | -€10,524 | -€20,616 | -€64,268 | ▼ 212% |
| Profit (loss) for the period to be appropriated9905 | -€8,856 | -€12,716 | -€10,524 | -€20,616 | -€64,268 | ▼ 212% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €703,732 | €9.5m | €9.5m | €9.5m | €9.5m | ▼ 0.2% |
| Fixed assets21/28 | €666,714 | €9.5m | €9.5m | €9.5m | €9.5m | ▼ 0.2% |
| Tangible fixed assets22/27 | - | - | €20,373 | €18,135 | - | - |
| Other tangible fixed assets26 | - | - | €20,373 | €18,135 | - | - |
| Financial fixed assets28 | €666,714 | €9.5m | €9.5m | €9.5m | €9.5m | = |
| Current assets29/58 | €37,018 | €13,422 | €7,244 | €2,659 | €1,671 | ▼ 37.2% |
| Amounts receivable within one year40/41 | €30,000 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €7,018 | €13,422 | €7,244 | €2,659 | €1,671 | ▼ 37.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €703,732 | €9.5m | €9.5m | €9.5m | €9.5m | ▼ 0.2% |
| Equity10/15 | €2,090 | -€10,626 | -€21,150 | -€41,766 | €2.9m | ▲ 7,054% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €3.0m | ▲ 23,842% |
| Profit (loss) carried forward14 | -€10,310 | -€23,026 | -€33,550 | -€54,166 | -€64,268 | ▼ 18.7% |
| Amounts payable17/49 | €701,642 | €9.5m | €9.6m | €9.6m | €6.6m | ▼ 31.0% |
| Amounts payable after more than one year17 | - | - | - | €9.6m | €5.9m | ▼ 38.7% |
| Financial debts170/4 | - | - | - | - | €5.9m | - |
| Other amounts payable178/9 | - | - | - | €9.6m | - | - |
| Amounts payable within one year42/48 | €701,642 | €9.5m | €9.6m | €5,775 | €744,420 | ▲ 12,791% |
| Trade debts44 | €825 | €762 | €1,997 | €5,775 | €13,321 | ▲ 131% |
| Suppliers440/4 | - | €762 | €1,997 | €5,775 | €13,321 | ▲ 131% |
| Other amounts payable47/48 | - | €9.5m | €9.6m | - | €731,098 | - |
| Accrued charges and deferred income492/3 | - | - | €3,485 | €3,500 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,856 | -€12,716 | -€10,524 | -€20,616 | -€64,268 | ▼ 212% |
| + Depreciation and write-downs630 | - | - | €2,012 | €2,238 | €18,135 | ▲ 710% |
| Operating cash flow (approximation) | -€8,856 | -€12,716 | -€8,512 | -€18,378 | -€46,133 | ▼ 151% |
| Investment in fixed assets (approximation) | - | -€8.8m | -€22,385 | €0 | €0 | - |
| Change in cash | - | €6,404 | -€6,178 | -€4,584 | -€988 | ▲ 78.4% |
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
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 127 days late
2024
31-12
Financial
Weakest financial yearnet -€64,268
Net result drops to -€64,268, the lowest in the series.
31-12
Financial
Equity above €2mEq €2.9m
Equity rises from -€41,766 to €2.9m.
22-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 114 days late
2023
01-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 123 days late
2022
22-11
State Gazette act
Merger · Corporate purpose
Net-asset statement · Accounting effect
22-11
State Gazette act
Merger · Net-asset statement
Accounting effect · Auditor appointment
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 57 days late
2020
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Brussel
Ground area
259 m²
Building footprint
209 m²
Volume, LiDAR
6,216 m³
Parcel 21807G0177/00P004, Brussels · tallest building 34.4 m, ±10 floors. Linked by address, not a title deed.
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0177/00P004 | Brussels | 259 m² | 1 · 209 m² | 34.4 m · 10 fl. |
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.
Structure & network
Part of the group
Emeria Benelux
26 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holding · 4 subsidiaries in the treeChain of control
- Emeria Benelux
- EMERIA BELGIUM
- CODABEL GROUPE
Highest known parent: Emeria Benelux. The sources do not say who stands above it.
Owners 1
- EMERIA BELGIUMparent100%
Holdings 1
-
68.49%
All subsidiaries, including indirect ones 4
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
ESSET BELUX 68.49%3 subsidiaries
- CODABEL MANAGEMENT 100%
- CODABEL MANAGEMENT NETHERLANDSNL 100%
- IMMOBE MANAGEMENT 100%
According to the 2024 annual accounts of CODABEL GROUPE and those 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
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:COMPAGNIE DE DEVELOPPEMENT D'ACTIFS BELGE
Identification & contact
Identification
Legal formPrivate limited company
Founded21-03-2019
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0723453813
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.