CODE CD
Open bankruptcyA bankruptcy procedure is open for CODE CD according to publications in the Belgian State Gazette; curator: LEON LEDUC.
Summary
The 2024 annual accounts show negative equity (€-43k) and a net result of €-1k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-43k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 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
18 d late
2023
58 d late
2022
31 d late
2021
85 d late
2020
30 d late
2019
122 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-43k▼ 2.9%
2023 · €-42k
2018: €-24k
2019: €-21k▲ +13.9% vs 2018highest in 7 years
2020: €-22k▼ -6.5% vs 2019
2021: €-43k▼ -90.5% vs 2020
2022: €-42k▲ +1.0% vs 2021
2023: €-42k▲ +0.8% vs 2022
2024: €-43k▼ -2.9% vs 2023lowest in 7 years
2018 → 2024
Total assets
€10k▲ 19.4%
2023 · €8k
2018: €26khighest in 7 years
2019: €14k▼ -45.4% vs 2018
2020: €10k▼ -30.3% vs 2019
2021: €18k▲ +75.1% vs 2020
2022: €8k▼ -55.6% vs 2021lowest in 7 years
2023: €8k▲ +7.3% vs 2022
2024: €10k▲ +19.4% vs 2023
2018 → 2024
Net result
€-1k
2023 · €325
2018: €1k
2019: €3k▲ +125% vs 2018highest in 7 years
2020: €-1k▼ -140% vs 2019
2021: €-20k▼ -1389% vs 2020lowest in 7 years
2022: €419▲ +102% vs 2021
2023: €325▼ -22.4% vs 2022
2024: €-1k▼ -473% vs 2023
2018 → 2024
Working capital
€-41k▼ 3.0%
2023 · €-40k
2018: €-27k
2019: €-23k▲ +13.7% vs 2018
2020: €-22k▲ +3.0% vs 2019highest in 7 years
2021: €-40k▼ -78.9% vs 2020
2022: €-40k▲ +0.2% vs 2021
2023: €-40k▲ +0.8% vs 2022
2024: €-41k▼ -3.0% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-22k-€-43k▼ 90.5%€-42k▲ 1.0%€-42k▲ 0.8%€-43k▼ 2.9%
2020: €-22khighest in 5 years
2021: €-43k▼ -90.5% vs 2020
2022: €-42k▲ +1.0% vs 2021
2023: €-42k▲ +0.8% vs 2022
2024: €-43k▼ -2.9% vs 2023lowest in 5 years
Operating result€-266-€-20k▼ 7,247%€2k€3k▲ 20.4%€374▼ 87.2%
2020: €-266
2021: €-20k▼ -7247% vs 2020lowest in 5 years
2022: €2k▲ +112% vs 2021
2023: €3k▲ +20.4% vs 2022highest in 5 years
2024: €374▼ -87.2% vs 2023
Net result€-1k-€-20k▼ 1,389%€419€325▼ 22.4%€-1k
2020: €-1k
2021: €-20k▼ -1389% vs 2020lowest in 5 years
2022: €419▲ +102% vs 2021highest in 5 years
2023: €325▼ -22.4% vs 2022
2024: €-1k▼ -473% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 87% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10k
Fixed assets
€2k =
Current assets
€8k ▲ 25.0%
Key figures and ratios
Solvency
-429.8%▲
2023 · -498.5%
Current ratio
0.16▲
2023 · 0.14
Debt to equity
-1.23▼
2023 · -1.20
ROA
-12.1%▼
2023 · 3.9%
Debt
€53k▲
2023 · €50k
Debt ≤ 1 year
€49k▲
2023 · €46k
Staff costs
€39k▲
2023 · €27k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 42 lines
Balance sheet
Code20232024
Assets
Total assets20/58€8k€10k▲
Fixed assets21/28€2k€2k=
Financial fixed assets28€2k€2k=
Current assets29/58€6k€8k▲
Amounts receivable within one year40/41€3k€5k▲
Trade receivables40€2k€4k▲
Other amounts receivable41€757€799▲
Cash at bank and in hand54/58€3k€3k▼
Deferred charges and accrued income490/1€105€362▲
Equity and liabilities
Total equity and liabilities10/49€8k€10k▲
Equity10/15€-42k€-43k▼
Contributions10/11€10k€10k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€-54k€-55k▼
Amounts payable17/49€50k€53k▲
Amounts payable within one year42/48€46k€49k▲
Financial debts43€232-
Credit institutions430/8€232-
Trade debts44€8k€10k▲
Suppliers440/4€8k€10k▲
Taxes, remuneration and social security45€20k€21k▲
Taxes450/3€8k€7k▼
Remuneration and social security454/9€12k€14k▲
Other amounts payable47/48€18k€18k▼
Accrued charges and deferred income492/3€4k€4k=
Income statement
Code20232024
Remuneration, social security and pensions62€27k€39k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€32k€42k▲
Operating profit (loss)9901€3k€374▼
Financial income75/76B€152-
Recurring financial income75€152-
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€325€-1k▼
Income taxes67/77€0-
Profit (loss) for the period9904€325€-1k▼
Profit (loss) for the period to be appropriated9905€325€-1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-54k€-55k▼
Profit (loss) brought forward from the previous period14P€-54k€-54k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €38k | €34k | €27k | €39k | ▲ 43.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €302 | - | - | - | - | - |
| Other operating charges640/8 | - | €676 | €2k | €1k | €2k | ▲ 86.4% |
| Gross operating margin9900 | €15k | €19k | €38k | €32k | €42k | ▲ 32.9% |
| Operating profit (loss)9901 | €-266 | €-20k | €2k | €3k | €374 | ▼ 87.2% |
| Financial income75/76B | - | - | €47 | €152 | - | - |
| Recurring financial income75 | €10 | - | €47 | €152 | - | - |
| Financial charges65/66B | - | €696 | €2k | €3k | €2k | ▼ 42.5% |
| Recurring financial charges65 | €666 | €696 | €2k | €3k | €2k | ▼ 42.5% |
| Profit (loss) for the period before taxes9903 | €-922 | €-20k | €419 | €325 | €-1k | ▼ 473% |
| Income taxes67/77 | €435 | - | - | €0 | - | - |
| Profit (loss) for the period9904 | €-1k | €-20k | €419 | €325 | €-1k | ▼ 473% |
| Profit (loss) for the period to be appropriated9905 | €-1k | €-20k | €419 | €325 | €-1k | ▼ 473% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10k | €18k | €8k | €8k | €10k | ▲ 19.4% |
| Fixed assets21/28 | €2k | €2k | €2k | €2k | €2k | = |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €8k | €16k | €6k | €6k | €8k | ▲ 25.0% |
| Amounts receivable within one year40/41 | €2k | €14k | €4k | €3k | €5k | ▲ 74.3% |
| Trade receivables40 | - | €14k | €3k | €2k | €4k | ▲ 98.5% |
| Other amounts receivable41 | - | €20 | €715 | €757 | €799 | ▲ 5.6% |
| Cash at bank and in hand54/58 | €6k | €2k | €1k | €3k | €3k | ▼ 22.6% |
| Deferred charges and accrued income490/1 | - | €557 | €663 | €105 | €362 | ▲ 244% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10k | €18k | €8k | €8k | €10k | ▲ 19.4% |
| Equity10/15 | €-22k | €-43k | €-42k | €-42k | €-43k | ▼ 2.9% |
| Contributions10/11 | - | €10k | €10k | €10k | €10k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | - | - |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €-34k | €-54k | €-54k | €-54k | €-55k | ▼ 2.3% |
| Amounts payable17/49 | €32k | €60k | €50k | €50k | €53k | ▲ 5.7% |
| Amounts payable within one year42/48 | €31k | €56k | €46k | €46k | €49k | ▲ 6.1% |
| Financial debts43 | - | - | - | €232 | - | - |
| Credit institutions430/8 | - | - | - | €232 | - | - |
| Trade debts44 | €11k | €24k | €11k | €8k | €10k | ▲ 33.8% |
| Suppliers440/4 | - | €24k | €11k | €8k | €10k | ▲ 33.8% |
| Taxes, remuneration and social security45 | - | €18k | €20k | €20k | €21k | ▲ 5.6% |
| Taxes450/3 | - | €3k | €9k | €8k | €7k | ▼ 4.0% |
| Remuneration and social security454/9 | - | €14k | €11k | €12k | €14k | ▲ 11.6% |
| Other amounts payable47/48 | - | €15k | €15k | €18k | €18k | ▼ 3.7% |
| Accrued charges and deferred income492/3 | - | €4k | €4k | €4k | €4k | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-1k | €-20k | €419 | €325 | €-1k | ▼ 473% |
| + Depreciation and write-downs630 | €302 | - | - | - | - | - |
| Operating cash flow (approximation) | €-1k | €-20k | €419 | €325 | €-1k | ▼ 473% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €-5k | €-133 | €2k | €-787 | ▼ 138% |
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
16-10
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 10-10-2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €419
Net result €419 after 2 loss-making years.
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 85 days late
2021
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Highest result since 2018net €3k ▲125%
Net result €3k, the highest in the series.
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 423 days late
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2017
20-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 81 days late
2016
18-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 79 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ans · 1 establishment unit since 2008
Ground area
7,445 m²
Building footprint
348 m²
Volume, LiDAR
1,464 m³
Parcel 62001B0453/02Y000, Wallonia · tallest building 6.5 m, ±1 floor. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
CODE CD
since 20082.233.234.760
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62001B0453/02Y000 | Wallonia | 7,445 m² | 1 · 348 m² | 6.5 m · 1 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LEON LEDUC PLACE DE BRONCKART 1,
4000 LIEGE 1 |
10-10-2025 → present |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 6,709 companies in sector 96230 we hold annual accounts for 627. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-02-2007
Fiscal year end31-12
Activities, NACEBEL 2025
96230Day spas, saunas and steam baths
Scores and ratios are computed by Checked and are not a credit decision.