CODABEL MANAGEMENT
ActiveSummary
The computed 12-month bankruptcy probability of CODABEL MANAGEMENT is 8.8% (elevated). The 2024 annual accounts show equity of €448,886 and a net result of €572,998. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 56% of 1,281 sector peers (NACE 41, financial year 2024). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 7.5 FTE
- Equity
- €448,886
- Profit
- €572,998
- Parent
- ESSET BELUX · 100%
- Property & Facility Management ConsultantDirector · permanent representative Bart VAN DEN BERG
- Ruysen ConsultDirector · permanent representative Kim RUYSEN
Why 36raises riskFigures for financial year 2024 (filed 16-12-2025)1 change of registered office in 24 months1 financial year not filed after the legal deadline; last filed accounts filed 127 days late; 3 of the last 3 lateSector: Construction of residential and non-residential buildings (NACE 41)Show the evidence
Checked score
About 9 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 41, micro): better than 44% on solvency, 25% on liquidity, 91% on profitability and 98% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 98 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (1)
- Registered officeRegistered-office move · Power of…
- Resignation: NEAR CONSULT SRL (director)Appointments: RUYSEN CONSULT BV (class…
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 28 October 2026.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
After the dip in 2022 the operating result has climbed two years in a row; 2024 is nearly 4.4 times 2023 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a higher bankruptcy probability: 8.8% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 34,693 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.002m | €0.01m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.7m | €1.8m | €1.1m | €0.7m | ▼ 38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.03m | €0.02m | €0.02m | €0.01m | €0.008m | ▼ 28.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.02m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.2m | €0.003m | €0.002m | €0.002m | ▼ 22.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €154 | €0.001m | ▲ 402% |
| Gross operating margin9900 | €0.5m | €0.7m | €1.3m | €1.9m | €1.4m | €1.3m | €1.4m | ▲ 9.3% |
| Operating profit (loss)9901 | €0.08m | €0.1m | €0.08m | €0.008m | -€0.4m | €0.2m | €0.7m | ▲ 338% |
| Financial income75/76B | - | - | - | €20 | €4 | - | €2 | - |
| Recurring financial income75 | €228 | €421 | €0.002m | €20 | €4 | - | €2 | - |
| Financial charges65/66B | - | - | - | €0.02m | €0.04m | €0.01m | €0.01m | ▼ 14.8% |
| Recurring financial charges65 | €0.001m | €0.003m | €0.004m | €0.009m | €0.01m | €0.01m | €0.01m | ▼ 14.8% |
| Non-recurring financial charges66B | - | - | - | €0.01m | €0.03m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.08m | €0.1m | €0.08m | -€0.01m | -€0.5m | €0.1m | €0.7m | ▲ 373% |
| Income taxes67/77 | €0.03m | €0.05m | €0.03m | €0.01m | €0.001m | - | €0.1m | - |
| Profit (loss) for the period9904 | €0.05m | €0.1m | €0.05m | -€0.02m | -€0.5m | €0.1m | €0.6m | ▲ 291% |
| Profit (loss) for the period to be appropriated9905 | €0.05m | €0.1m | €0.05m | -€0.02m | -€0.5m | €0.1m | €0.6m | ▲ 291% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €1.2m | €3.5m | €3.1m | €1.6m | €1.7m | €1.2m | ▼ 29.1% |
| Fixed assets21/28 | €0.05m | €0.05m | €0.06m | €0.06m | €0.03m | €0.01m | €0.002m | ▼ 83.8% |
| Intangible fixed assets21 | €0.04m | €0.03m | €0.02m | €0.005m | - | - | - | - |
| Tangible fixed assets22/27 | €0.01m | €0.02m | €0.03m | €0.04m | €0.03m | €0.01m | €0.002m | ▼ 83.8% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.03m | €0.01m | €0.002m | ▼ 83.8% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.02m | €0.02m | €363 | - | - | - |
| Current assets29/58 | €0.7m | €1.2m | €3.4m | €3.0m | €1.6m | €1.7m | €1.2m | ▼ 28.7% |
| Amounts receivable within one year40/41 | €0.4m | €0.7m | €2.6m | €2.1m | €1.4m | €1.5m | €1.0m | ▼ 32.4% |
| Trade receivables40 | - | - | - | €2.0m | €1.1m | €1.3m | €0.7m | ▼ 42.2% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.3m | €0.3m | €0.3m | ▲ 15.9% |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.8m | €1.0m | €0.008m | €0.001m | €0.1m | ▲ 96× |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.1m | €0.2m | €0.06m | ▼ 68.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €1.2m | €3.5m | €3.1m | €1.6m | €1.7m | €1.2m | ▼ 29.1% |
| Equity10/15 | €0.3m | €0.4m | €0.2m | €0.2m | -€0.3m | -€0.1m | €0.4m | - |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.1m | €0.1m | -€0.4m | -€0.2m | €0.3m | - |
| Amounts payable17/49 | €0.5m | €0.8m | €3.3m | €2.9m | €1.9m | €1.9m | €0.8m | ▼ 58.1% |
| Amounts payable after more than one year17 | - | - | €0.02m | €50 | €50 | €50 | €50 | = |
| Other amounts payable178/9 | - | - | - | €50 | €50 | €50 | €50 | = |
| Amounts payable within one year42/48 | €0.5m | €0.7m | €3.2m | €2.9m | €1.8m | €1.8m | €0.8m | ▼ 57.3% |
| Financial debts43 | - | - | - | €0.04m | €0.04m | - | - | - |
| Credit institutions430/8 | - | - | - | €0.04m | €0.04m | - | - | - |
| Trade debts44 | €0.3m | €0.5m | €0.7m | €0.6m | €0.6m | €0.8m | €0.2m | ▼ 77.0% |
| Suppliers440/4 | - | - | - | €0.6m | €0.6m | €0.8m | €0.2m | ▼ 77.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 36.2% |
| Taxes450/3 | - | - | - | €0.1m | €0.05m | €0.08m | €0.07m | ▼ 6.4% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.09m | €0.03m | ▼ 61.2% |
| Other amounts payable47/48 | - | - | - | €2.0m | €1.0m | €0.8m | €0.5m | ▼ 41.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.03m | €0.03m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,264 | €97,318 | €49,805 | -€23,404 | -€481,919 | €146,458 | €572,998 | ▲ 291% |
| + Depreciation and write-downs630 | €21,957 | €18,647 | €26,355 | €24,710 | €23,671 | €11,193 | €8,001 | ▼ 28.5% |
| Operating cash flow (approximation) | €71,221 | €115,966 | €76,160 | €1,306 | -€458,249 | €157,651 | €580,998 | ▲ 269% |
| Investment in fixed assets (approximation) | - | -€12,469 | -€42,395 | -€24,383 | €8,058 | €6,020 | €2,425 | ▼ 59.7% |
| Change in cash | - | €56,875 | €461,676 | €126,410 | -€943,299 | -€6,192 | €131,052 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 05-12-2025 | 2025-00582653 |
| 31-12-2023 | full format | 22-11-2024 | 2024-00605423 |
| 31-12-2022 | full format | 01-12-2023 | 2023-00521615 |
| 31-12-2021 | full format | 15-10-2022 | 2022-20465857 |
| 31-12-2020 | full format | 12-10-2021 | 2021-71700332 |
| 31-12-2019 | full format | 15-10-2020 | 2020-61500420 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-51700496 |
| 31-12-2017 | micro format | 20-08-2018 | 2018-46800416 |
| 31-12-2016 | full format | 11-07-2017 | 2017-30100397 |
Similar companies · same sector, comparable size
Subsidies and aid
European Union, budget
2025 · 3 entries · €975,696 in totalPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 2
Permanent representatives 2
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Property & Facility Management Consultant |
|
| Ruysen Consult |
|
| Deloitte Bedrijfsrevisoren/Réviseurs d’Entreprises |
|
| NEAR CONSULT |
|
| I.R.R. BENELUX |
|
Owners and capital
Owners
2 ownersChain of control
- EMERIA EUROPE SASFR
- Emeria Benelux
- EMERIA BELGIUM
- CODABEL GROUPE
- ESSET BELUX
- CODABEL MANAGEMENT
Highest known parent: EMERIA EUROPE SAS (France). The sources do not say who stands above it.
Owners 2
- ESSET BELUXparent100%
- EMERIA EUROPE SASFRconsolidating parentconsolidates
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
33 connected companiesShow 29 more companies with a shared director
History
Acts, filings and financial milestones
24-04
Gazette deed
Registered officeRegistered-office move · Power of attorney3 facts ▸
- General meeting, 31-03-2026
- Registered-office move, Rue Vilain XIIII 53-55, 1000 Bruxelles
- Power of attorney, Florian ROELS
31-12
Gazette deed
Resignation: NEAR CONSULT SRL (director)Appointments: RUYSEN CONSULT BV (class B director) and DELOITTE REVISEURS D'ENTREPRISES SRL (statutory auditor) · Permanent representative: Kim RUYSEN5 facts ▸
- General meeting, 31-10-2025
- Director resignation, NEAR CONSULT SRL (director)
- Director appointment, RUYSEN CONSULT BV (class B director)
- Permanent representative, Kim RUYSEN
- Auditor appointment, DELOITTE REVISEURS D'ENTREPRISES SRL (statutory auditor)
14-11
Gazette deed
Appointments: NEAR CONSULT SRL (class B director) and PROPERTY & FACILITY MANAGEMENT CONSULTANT (administrateur de catégorie c)Permanent representatives: Nicolas RENDERS and Bart VAN DEN BERG5 facts ▸
- General meeting, 04-10-2024
- Director appointment, NEAR CONSULT SRL (class B director)
- Director appointment, PROPERTY & FACILITY MANAGEMENT CONSULTANT (administrateur de catégorie c)
- Permanent representative, Nicolas RENDERS
- Permanent representative, Bart VAN DEN BERG
01-02
Gazette deed
Resignations & appointmentsPower of attorney8 facts ▸
- Board meeting, “délégations de pouvoir, Administrateur-délégué” (deed in French)
- Power of attorney, Bart Van den Berg (5 times)
- Power of attorney, Nicolas Renders (5 times)
- Power of attorney, Pierre-Yves de Patoul (4 times)
- Power of attorney, Daniele Bonami (3 times)
- Power of attorney, Stephanie Counasse (3 times)
- Power of attorney, Marc Renard (3 times)
- Power of attorney, Quentin Chambaud (3 times)
21-11
Gazette deed
Resignation: I.R.R. BENELUX (director)Permanent representative: DROUIN Bérenger4 facts ▸
- General meeting, 09-10-2023
- Director resignation, I.R.R. BENELUX (director)
- Permanent representative, DROUIN Bérenger
- Other provision, “exécution de leurs mandats”, director discharge (deed in French)
21-04
Gazette deed
Appointment: Deloitte Réviseurs d'Entreprises SRL (statutory auditor)2 facts ▸
- General meeting, 20-03-2023
- Auditor appointment, Deloitte Réviseurs d'Entreprises SRL (statutory auditor)
Show earlier events
07-03
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 10-01-2023
- Registered-office move, Rue des Colonie 56,bte 15,1000 Bruxelles
About the unread acts
Of the 12 Belgian Official Gazette deeds we know for this company, 7 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0635.829.753
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
3 establishment units
3 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0213/00V002 | Brussels | 2,100 m² | 1 · 330 m² | 42.2 m · 12 |
| 21804D1438/00E002 | Brussels | 1,366 m² | 1 · 1,142 m² | 36.3 m · 10 |
| 21807G0177/00P004 | Brussels | 259 m² | 1 · 209 m² | 34.4 m · 10 |