Codana
ActiveSummary
Codana has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €185,776 and a net result of €23,627. Its solvency ranks better than 36% of 1,675 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
- Staff
- 17 FTE
- Equity
- €185,776
- Profit
- €23,627
- Parent
- The Digitals · 90%
- Holdings
- 1
- De Cronos GroepManaging director · permanent representative DEROOST Dirk
- DE WIT JosephusManaging director
- OECO GroepDirector · permanent representative BAMBUST Sam
Why 68raises riskSize: turnover €2.6m, 17 FTE, total assets €799,517Liquidity: current ratio 1.16, cash €12,674Founded in 2024lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Show the evidence
Checked score
About 7 in 1,000 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 62, small): better than 32% on solvency, 7% on liquidity, 25% on profitability and 70% on growth.
The bankruptcy probability was computed on 24-10-2026 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 2 accounts on average 11 days after the deadline; the sector median (NACE 62) for financial year 2024 is 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
- IncorporationAppointments: DE WIT Josephus, De…
Financials · financial year 2025, full format
2024 to 2025, 2 financial years
The operating result rises in 2025; 2025 is 29% above 2024.
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 62, Computer programming, consultancy and related activities: 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 896 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 98.1% are still going.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,475 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 896 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Turnover70 | €2.2m | €2.6m | ▲ 15.6% |
| Non-recurring operating income76A | - | €69 | - |
| Goods, raw materials, services and sundry goods60/61 | €1.0m | €1.7m | ▲ 70.5% |
| Remuneration, social security and pensions62 | €1.2m | €1.2m | ▼ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.006m | €0.01m | ▲ 57.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0.1m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €0.001m | - |
| Other operating charges640/8 | €0.003m | €0.005m | ▲ 70.1% |
| Non-recurring operating charges66A | €0.001m | €0.02m | ▲ 22× |
| Gross operating margin9900 | €1.3m | €1.3m | ▲ 6.8% |
| Operating profit (loss)9901 | €0.04m | €0.05m | ▲ 28.9% |
| Financial income75/76B | €0.002m | €420 | ▼ 74.0% |
| Recurring financial income75 | €0.002m | €420 | ▼ 74.0% |
| Financial charges65/66B | €0.01m | €0.02m | ▲ 130% |
| Recurring financial charges65 | €0.01m | €0.02m | ▲ 130% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.02m | ▼ 15.1% |
| Income taxes67/77 | €0.02m | €0.001m | ▼ 96.5% |
| Profit (loss) for the period9904 | €0.008m | €0.02m | ▲ 188% |
| Profit (loss) for the period to be appropriated9905 | €0.008m | €0.02m | ▲ 188% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €589,066 | €799,517 | ▲ 35.7% |
| Fixed assets21/28 | €17,729 | €91,999 | ▲ 419% |
| Tangible fixed assets22/27 | €17,729 | €21,999 | ▲ 24.1% |
| Plant, machinery and equipment23 | €17,729 | €21,999 | ▲ 24.1% |
| Financial fixed assets28 | - | €70,000 | - |
| Current assets29/58 | €571,337 | €707,518 | ▲ 23.8% |
| Stocks and contracts in progress3 | - | €86,344 | - |
| Contracts in progress37 | - | €86,344 | - |
| Amounts receivable within one year40/41 | €540,781 | €591,567 | ▲ 9.4% |
| Trade receivables40 | €440,651 | €554,734 | ▲ 25.9% |
| Other amounts receivable41 | €100,130 | €36,833 | ▼ 63.2% |
| Cash at bank and in hand54/58 | €12,203 | €12,674 | ▲ 3.9% |
| Deferred charges and accrued income490/1 | €18,353 | €16,933 | ▼ 7.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €589,066 | €799,517 | ▲ 35.7% |
| Equity10/15 | €162,148 | €185,776 | ▲ 14.6% |
| Contributions10/11 | €153,948 | €153,948 | = |
| Capital10 | €153,948 | €153,948 | = |
| Issued capital100 | €153,948 | €153,948 | = |
| Reserves13 | €8,200 | €31,395 | ▲ 283% |
| Non-distributable reserves130/1 | €8,200 | €15,395 | ▲ 87.7% |
| Legal reserve130 | €8,200 | €15,395 | ▲ 87.7% |
| Distributable reserves133 | - | €16,000 | - |
| Profit (loss) carried forward14 | - | €433 | - |
| Provisions and deferred taxes16 | - | €754 | - |
| Provisions for liabilities and charges160/5 | - | €754 | - |
| Pensions and similar obligations160 | - | €754 | - |
| Amounts payable17/49 | €426,917 | €612,988 | ▲ 43.6% |
| Amounts payable within one year42/48 | €421,131 | €607,605 | ▲ 44.3% |
| Trade debts44 | €219,542 | €356,906 | ▲ 62.6% |
| Suppliers440/4 | €219,542 | €356,906 | ▲ 62.6% |
| Advances received on contracts in progress46 | €927 | €7,095 | ▲ 665% |
| Taxes, remuneration and social security45 | €200,661 | €224,659 | ▲ 12.0% |
| Taxes450/3 | €70,635 | €93,131 | ▲ 31.8% |
| Remuneration and social security454/9 | €130,027 | €131,528 | ▲ 1.2% |
| Other amounts payable47/48 | - | €18,945 | - |
| Accrued charges and deferred income492/3 | €5,786 | €5,383 | ▼ 7.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €8,200 | €23,627 | ▲ 188% |
| + Depreciation and write-downs630 | €6,059 | €9,543 | ▲ 57.5% |
| Operating cash flow (approximation) | €14,259 | €33,170 | ▲ 133% |
| Investment in fixed assets (approximation) | - | -€83,813 | - |
| Change in cash | - | €471 | - |
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 (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00350557 |
| 31-12-2024 | full format | 26-08-2025 | 2025-00441425 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Day-to-day management 2
Permanent representatives 2
Statutory auditor 1
Mandate history
- Board
- Day-to-day management
- Statutory auditor
| Name | Functions and periods |
|---|---|
| De Cronos Groep |
|
| DE WIT Josephus |
|
| OECO Groep |
|
| KPMG Bedrijfsrevisoren |
|
Owners and capital
Owners
3 ownersChain of control
Highest known parent: De Cronos Groep NV. The sources do not say who stands above it.
Owners 3
-
90%
- De Cronos Groep NVconsolidating parentconsolidates
-
10%
According to the 2025 annual accounts of Codana and those of the other companies, 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.
Capital and shareholders
- The Digitals (BE 0869.974.687) 6,200 shares (100%)
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 03-07-2024 Incorporation · €153,947.99 · 6,200 shares
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
- Lunar InteractivesubsidiaryEquity -€165,997Result -€176,127100%
According to the 2025 annual accounts of Codana and those of the other companies, 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.
Connections & network
11 connected companiesHistory
Acts, filings and financial milestones
03-07
Gazette deed
IncorporationAppointments: DE WIT Josephus, De Cronos Groep and 2 others · Permanent representatives: DEROOST Dirk and BAMBUST Sam · Capital17 facts ▸
- Capital, €153,947.99
- Director appointment, DE WIT Josephus (director)
- Director appointment, De Cronos Groep (director)
- Director appointment, OECO Groep (director)
- Permanent representative, DEROOST Dirk
- Permanent representative, BAMBUST Sam
- Director appointment, DE WIT Josephus (managing director)
- Director appointment, De Cronos Groep (managing director)
- Permanent representative, DEROOST Dirk (vaste vertegenwoordiger bij mandaat gedelegeerd bestuurder)
- Auditor appointment, KPMG Bedrijfsrevisoren (statutory auditor)
- Power of attorney, POTLOOT Ilse
- Other provision, “uitwerking oprichting en inbreng bedrijfstak Codana”, 01-07-2024 (deed in Dutch)
- +5 further facts in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11024B0130/00E002 | Flanders | 3,317 m² | 1 · 736 m² | 14.2 m · 4 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Codana
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, 2550 Kontich, Veldkant 33A” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “ondernemingsnummer (RPR Gent afdeling Kortrijk) 0711.973.169, met als vaste vertegenwoordiger de heer BAMBUST Sam Overeenkomstig artikel…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Collegiaal bestuursorgaan, raad van bestuur” (deed in Dutch)“16.1, 3” (deed in Dutch)“Enige bestuurder, 15” (deed in Dutch)“Enige bestuurder, alle handelingen nodig of dienstig tot verwezenlijking van voorwerp en doelen” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “1, 2024-01-01T00:00:00” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Overdracht van aandelen, 14” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Thursday of May at 13:30
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “49, kan alle dienstige inlichtingen vorderen” (deed in Dutch)