Codanics
ActiveSummary
Codanics has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62,420 and a net result of €33,195. Its solvency ranks better than 41% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 02-01-2024 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.353.925.625 8370 Blankenberge, since 02-01-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 21-08-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €57,409
- ▲ 48.6%
- Turnover
- ≈ €120,000
- estimated
- Profit
- €33,195
- ▲ 28.2%
- Equity
- €62,420
- ▲ 108%
- Total assets
- €140,788
- ▲ 42.2%
- Employees on 30-06-2025
- 0
Score breakdownraises riskFounded in 2024lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Liquidity: current ratio 2.05, cash €70,094Size: total assets €140,788Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 41% of them on solvency, 79% on liquidity, 67% on profitability and 90% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 21 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 06-01-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 33% higher than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 30-06-2025 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 30-06-2024 | 30-06-2025 |
|---|---|---|
| Tangible fixed assets | €48,309 | €16,931 |
| Depreciation and write-downs of the year | €4,579 | €11,796 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,579 | €11,796 | ▲ 158% |
| Other operating charges640/8 | €465 | €946 | ▲ 103% |
| Gross operating margin9900 | €38,628 | €57,409 | ▲ 48.6% |
| Operating profit (loss)9901 | €33,583 | €44,667 | ▲ 33.0% |
| Financial income75/76B | €3 | €445 | ▲ 149× |
| Recurring financial income75 | €3 | €445 | ▲ 149× |
| Financial charges65/66B | €756 | €1,907 | ▲ 152% |
| Recurring financial charges65 | €756 | €1,907 | ▲ 152% |
| Profit (loss) for the period before taxes9903 | €32,829 | €43,204 | ▲ 31.6% |
| Income taxes67/77 | €6,938 | €10,010 | ▲ 44.3% |
| Profit (loss) for the period9904 | €25,891 | €33,195 | ▲ 28.2% |
| Profit (loss) for the period to be appropriated9905 | €25,891 | €33,195 | ▲ 28.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €99,011 | €140,788 | ▲ 42.2% |
| Fixed assets21/28 | €43,730 | €48,865 | ▲ 11.7% |
| Tangible fixed assets22/27 | €43,730 | €48,865 | ▲ 11.7% |
| Furniture and vehicles24 | €43,730 | €48,865 | ▲ 11.7% |
| Current assets29/58 | €55,281 | €91,922 | ▲ 66.3% |
| Amounts receivable within one year40/41 | €18,755 | €21,124 | ▲ 12.6% |
| Trade receivables40 | €18,755 | €16,000 | ▼ 14.7% |
| Other amounts receivable41 | - | €5,124 | - |
| Cash at bank and in hand54/58 | €35,947 | €70,094 | ▲ 95.0% |
| Deferred charges and accrued income490/1 | €579 | €705 | ▲ 21.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €99,011 | €140,788 | ▲ 42.2% |
| Equity10/15 | €30,058 | €62,420 | ▲ 108% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Reserves13 | €25,058 | €57,420 | ▲ 129% |
| Distributable reserves133 | €25,058 | €57,420 | ▲ 129% |
| Amounts payable17/49 | €68,952 | €78,368 | ▲ 13.7% |
| Amounts payable after more than one year17 | €35,553 | €33,193 | ▼ 6.6% |
| Financial debts170/4 | €35,553 | €33,193 | ▼ 6.6% |
| Amounts payable within one year42/48 | €33,021 | €44,796 | ▲ 35.7% |
| Current portion of amounts payable after more than one year42 | €9,076 | €13,522 | ▲ 49.0% |
| Financial debts43 | - | €8,815 | - |
| Credit institutions430/8 | - | €8,815 | - |
| Trade debts44 | €2,426 | €2,564 | ▲ 5.7% |
| Suppliers440/4 | €2,426 | €2,564 | ▲ 5.7% |
| Taxes, remuneration and social security45 | €16,065 | €7,614 | ▼ 52.6% |
| Taxes450/3 | €12,431 | €3,980 | ▼ 68.0% |
| Remuneration and social security454/9 | €3,634 | €3,634 | = |
| Other amounts payable47/48 | €5,453 | €12,282 | ▲ 125% |
| Accrued charges and deferred income492/3 | €378 | €379 | ▲ 0.1% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €25,891 | €33,195 | ▲ 28.2% |
| + Depreciation and write-downs630 | €4,579 | €11,796 | ▲ 158% |
| Operating cash flow (approximation) | €30,471 | €44,990 | ▲ 47.7% |
| Investment in fixed assets (approximation) | - | -€16,931 | - |
| Change in cash | - | €34,147 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as Codanics has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Codanics itself is lower: < 0.1% within 12 months. It rests on far more data about Codanics than the profile alone.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for Codanics. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- Andy Danschotter 100 shares (100%) · €5,000 in cash
Capital transactions
- 04-01-2024 Incorporation · €5,000 · 100 shares
Mandate history
- Board
- end not dated
| Name | Functions and periods |
|---|---|
| Andy Danschotter |
|
| Niels Danschotter |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bezoldiging-bestuurders, onbezoldigd-tot-andersluidend-besluit”
Articles of association, deed of 04-01-2024 (in Dutch)
Network & group
Codanics shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of Codanics. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
04-01
Gazette deed
IncorporationStarting capital €5,000 · Appointments: Andy Danschotter (director) and Niels Danschotter (opvolgend niet statutair bestuurder) · Founder11 points ▸
- Incorporation, “Codanics” (deed in Dutch)
- Founder, Andy Danschotter (comparant)
- Founding capital, €5,000
- Bank account, 5000, “vennootschap in oprichting” (deed in Dutch)
- Capital contribution
- Capital
- Registered office clause, “8370 Blankenberge,Franchommelaan 25 bus 0402” (deed in Dutch)
- Board rule, 1, “vergadering” (deed in Dutch)
- Director appointment, Andy Danschotter (director (not named in the articles))
- Director appointment, Niels Danschotter (opvolgend niet statutair bestuurder)
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten sedert 2023-06-15 door comparant in naam en voor rekening vennootschap in oprichting overeenkomstig…” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 2 January 2024, Codanics was incorporated as a private limited company by one natural person, with a starting capital of €5,000.12 Andy Danschotter is director of the company, appointed in the act of 04-01-2024.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31004A0715/00E000 | Flanders | 341 m² | 1 · 239 m² | 19.1 m · 5 |