CODE.M
Dissolved and wound up on 30-05-2026Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-03-2026 PDF all 7 filings
Turnover
≈ €250,000
Estimated: probably between €170,000 and €430,000
Total assets
€382,389▲ 16.4%
2024 · €328,513
Net result
€56,562▼ 3.2%
2024 · €58,444
Working capital
€369,510▲ 18.1%
2024 · €312,948
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€79,018
▼ 0.2%
2025
20192025
Net result
€56,562
▼ 3.2%
2025
20192025
Equity
€369,510
▲ 18.1%
2025
20192025
Total assets
€382,389
▲ 16.4%
2025
20192025
Debt
€12,880
▼ 17.3%
2025
20192025
Working capital
€369,510
▲ 18.1%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€34,310-€87,892▲ 156%€73,577▼ 16.3%€72,788▼ 1.1%€73,835▲ 1.4%€79,190▲ 7.3%€79,018▼ 0.2%
Net result€23,876-€62,821▲ 163%€52,327▼ 16.7%€48,158▼ 8.0%€48,721▲ 1.2%€58,444▲ 20.0%€56,562▼ 3.2%
Equity€30,076-€92,897▲ 209%€157,625▲ 69.7%€205,783▲ 30.6%€254,504▲ 23.7%€312,948▲ 23.0%€369,510▲ 18.1%
Total assets€44,244-€136,172▲ 208%€195,632▲ 43.7%€228,313▲ 16.7%€275,696▲ 20.8%€328,513▲ 19.2%€382,389▲ 16.4%
Debt€14,168-€43,274▲ 205%€38,007▼ 12.2%€22,530▼ 40.7%€21,193▼ 5.9%€15,566▼ 26.6%€12,880▼ 17.3%
Working capital€30,076-€90,318▲ 200%€155,807▲ 72.5%€204,726▲ 31.4%€254,208▲ 24.2%€312,948▲ 23.1%€369,510▲ 18.1%
The operating result for 2025 is 0% lower 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €382,389
Equity
€369,510 ▲ 18.1%
Debt
€12,880 ▼ 17.3%
Debt's share of the balance-sheet total falls from 4.7% to 3.4%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
29.69▲
2024 · 21.10
Debt to equity
0.03▼
2024 · 0.05
ROE
15.3%▼
2024 · 18.7%
ROA
14.8%▼
2024 · 17.8%
Debt ≤ 1 year
€12,880▼
2024 · €15,566
Income taxes
€28,692▼
2024 · €29,329
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €347 | €761 | €761 | €761 | €295 | - | - |
| Other operating charges640/8 | - | - | €1,087 | €808 | €769 | €983 | €4,130 | ▲ 320% |
| Gross operating margin9900 | €34,632 | €88,674 | €75,424 | €74,357 | €75,366 | €80,468 | €83,148 | ▲ 3.3% |
| Operating profit (loss)9901 | €34,310 | €87,892 | €73,577 | €72,788 | €73,835 | €79,190 | €79,018 | ▼ 0.2% |
| Financial income75/76B | - | - | - | - | €13 | €8,804 | €6,281 | ▼ 28.7% |
| Recurring financial income75 | - | €7 | - | - | €13 | €8,804 | €6,281 | ▼ 28.7% |
| Financial charges65/66B | - | - | €45 | €45 | €45 | €221 | €45 | ▼ 79.7% |
| Recurring financial charges65 | €46 | €42 | €45 | €45 | €45 | €221 | €45 | ▼ 79.7% |
| Profit (loss) for the period before taxes9903 | €34,264 | €87,857 | €73,532 | €72,743 | €73,804 | €87,772 | €85,254 | ▼ 2.9% |
| Income taxes67/77 | €10,388 | €25,035 | €21,204 | €24,585 | €25,082 | €29,329 | €28,692 | ▼ 2.2% |
| Profit (loss) for the period9904 | €23,876 | €62,821 | €52,327 | €48,158 | €48,721 | €58,444 | €56,562 | ▼ 3.2% |
| Profit (loss) for the period to be appropriated9905 | €23,876 | €62,821 | €52,327 | €48,158 | €48,721 | €58,444 | €56,562 | ▼ 3.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €44,244 | €136,172 | €195,632 | €228,313 | €275,696 | €328,513 | €382,389 | ▲ 16.4% |
| Fixed assets21/28 | - | €2,579 | €1,818 | €1,057 | €295 | - | - | - |
| Tangible fixed assets22/27 | - | €2,579 | €1,818 | €1,057 | €295 | - | - | - |
| Furniture and vehicles24 | - | - | €1,818 | €1,057 | €295 | - | - | - |
| Current assets29/58 | €44,244 | €133,592 | €193,814 | €227,256 | €275,401 | €328,513 | €382,389 | ▲ 16.4% |
| Amounts receivable within one year40/41 | €65 | €10,801 | €8,913 | €10,902 | €10,432 | €12,251 | €4,512 | ▼ 63.2% |
| Trade receivables40 | - | - | €8,913 | €10,902 | €10,432 | €12,251 | - | - |
| Other amounts receivable41 | - | - | - | - | - | - | €4,512 | - |
| Current investments50/53 | - | - | - | - | €200,000 | €249,813 | €349,813 | ▲ 40.0% |
| Cash at bank and in hand54/58 | €43,572 | €122,182 | €184,292 | €215,513 | €64,272 | €66,064 | €27,578 | ▼ 58.3% |
| Deferred charges and accrued income490/1 | - | - | €610 | €841 | €697 | €385 | €487 | ▲ 26.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €44,244 | €136,172 | €195,632 | €228,313 | €275,696 | €328,513 | €382,389 | ▲ 16.4% |
| Equity10/15 | €30,076 | €92,897 | €157,625 | €205,783 | €254,504 | €312,948 | €369,510 | ▲ 18.1% |
| Contributions10/11 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €23,876 | €86,697 | €139,025 | €187,183 | €235,904 | €294,348 | €350,910 | ▲ 19.2% |
| Distributable reserves133 | - | - | €139,025 | €187,183 | €235,904 | €294,348 | €350,910 | ▲ 19.2% |
| Amounts payable17/49 | €14,168 | €43,274 | €38,007 | €22,530 | €21,193 | €15,566 | €12,880 | ▼ 17.3% |
| Amounts payable within one year42/48 | €14,168 | €43,274 | €38,007 | €22,530 | €21,193 | €15,566 | €12,880 | ▼ 17.3% |
| Trade debts44 | €10 | €315 | €317 | €40 | €166 | €19 | €403 | ▲ 22× |
| Suppliers440/4 | - | - | €317 | €40 | €166 | €19 | €403 | ▲ 22× |
| Taxes, remuneration and social security45 | - | - | €37,510 | €22,240 | €20,668 | €15,402 | €12,477 | ▼ 19.0% |
| Taxes450/3 | - | - | €37,510 | €22,240 | €20,668 | €15,402 | €12,477 | ▼ 19.0% |
| Other amounts payable47/48 | - | - | €180 | €250 | €359 | €145 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,876 | €62,821 | €52,327 | €48,158 | €48,721 | €58,444 | €56,562 | ▼ 3.2% |
| + Depreciation and write-downs630 | - | €347 | €761 | €761 | €761 | €295 | - | - |
| Operating cash flow (approximation) | €23,876 | €63,168 | €53,089 | €48,919 | €49,483 | €58,739 | €56,562 | ▼ 3.7% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - | - | - |
| Change in cash | - | €78,610 | €62,110 | €31,221 | -€151,240 | €1,792 | -€38,486 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-03-2026 | 2026-00052625 | |
| 31-12-2024 | micro format | 13-08-2025 | 2025-00374185 | |
| 31-12-2023 | micro format | 20-08-2024 | 2024-00356605 | |
| 31-12-2022 | micro format | 15-05-2023 | 2023-00088036 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20097742 | |
| 31-12-2020 | micro format | 13-08-2021 | 2021-48700091 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29900206 |