Starting capital
€3,000 100 shares
Code Master
Overview
Lifetime
1 annual account with figurespeak €156,157 (2025)
€156,157
peak €37,387 (2025)
€37,387
peak €40,387 (2025)
€40,387
€30,248
Board1 name since 2024
1 directorVAIDA Robert
Documentsfilings and deeds
01-02-20261 day late
2025micro format
First year with figures
Key points
from the 2025 annual accounts2025 accounts filed 1 day after the deadline
Checked score
84
Excellent
Financially stronger than 60% of micro companies in publishing (NACE 58)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,282 companies (NACE 58, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
08-2025: 0.5%
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.6%▲ +0.1 percentage points vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.7%▲ +0.1 percentage points vs 03-2026
05-2026: 0.6%▼ -0.1 percentage points vs 04-2026
06-2026: 0.7%▲ +0.1 percentage points vs 05-2026
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 0.8%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.8%● unchanged vs 08-2026highest value
10-2026: 0.4%▼ -0.4 percentage points vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Founded in 2024
Size: turnover €156,157, total assets €70,635
lowers risk
Sector: Publishing activities (NACE 58)
Liquidity: current ratio 2.34, cash €7,688
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 58, micro). It does better than 59% of them on solvency, 29% on liquidity and 93% on profitability.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 39,278 companies had the same profile as Code Master has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Code Master itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 Code Master. 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.
Credit verdict
Credit of up to €3,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.34, above the usual 1.5. Short-term debt is 42.8% and cash 10.9% of total assets. 42.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 1 day late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 01-02-2026, 1 day later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 1 filingDeviation from the deadline
2025
1 day late
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1012022972
Incorporation
Founding capital of €3,000, 100 shares · Founder: VAIDA Robert · Appointment: VAIDA Robert (director) · published on 31-07-2024 · Gazette deed
First establishment
Edward Keurvelsstraat 34, Antwerp
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Code Master Antwerp | €70,635 | €56,322 | 57.2% | - |
| MDK Consulting Saint-Josse-ten-Noode | €68,735 | €50,350 | 88.2% | - |
| NEO-CONNECT CONSULTING Seraing | €68,132 | €45,721 | 49.9% | - |
| Riv-IT Sint-Katelijne-Waver | €58,394 | €43,528 | 61.1% | - |
| Ferm IT Zonhoven | €87,274 | €51,551 | 91.9% | - |
| OLCA CONSULTING Antwerp | €65,973 | €39,964 | 91.7% | - |
| ZNX Turnhout | €103,520 | €30,645 | 29.7% | - |
These companies have the same main activity as Code Master: other software publishing (NACE 58290). They are comparable in size and age: total assets between €58,400 and €104,000, founded between 2023 and 2025.
Official details
Source: KBO- Status
- Active since 29-07-2024Normal situation
- Activity
- Other software publishingNACE 58290and 5 others
- Establishment unit
- 2.362.236.0502020 Antwerp, since 29-07-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 24-11-2025
Insights on Code Master
Code Master has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40,387 and a net result of €37,387.
Its solvency ranks better than 56% of 825 sector peers (NACE 58, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 01-02-2026, 1 day late€156,157
€56,185
-
-
57.2%
2.34
Money flows
of every €100 of turnover, €23.94 remains as profit in 2025Balance sheet
balance sheet total €70,635 on 30-06-2025What the company ownsHow it is paid for
Position in the sector
57.2%
Higher than 56% of 825 companies in 2025.
2.34
Higher than 55% of 759 companies in 2025.
52.9%
Higher than 93% of 781 companies in 2025.
Code Master
Middle half of the sector
80% of the sector
Micro accounts in publishing (NACE 58)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
70,635 | |
29/58 |
70,635 | |
40/41 |
55,946 | |
40 |
34,240 | |
41 |
21,706 | |
50/53 |
7,001 | |
54/58 |
7,688 | |
| Balance sheet: equity and liabilities | ||
10/49 |
70,635 | |
10/15 |
40,387 | |
10/11 |
3,000 | |
13 |
37,387 | |
133 |
37,387 | |
17/49 |
30,248 | |
42/48 |
30,248 | |
44 |
3,812 | |
440/4 |
3,812 | |
45 |
26,436 | |
450/3 |
26,436 | |
| Income statement | ||
70 |
156,157 | |
9900 |
56,322 | |
60/61 |
99,835 | |
640/8 |
136 | |
9901 |
56,185 | |
65/66B |
474 | |
65 |
474 | |
9903 |
55,712 | |
67/77 |
18,325 | |
9904 |
37,387 | |
9905 |
37,387 | |
| Appropriation of the result | ||
9906 |
37,387 | |
691/2 |
37,387 | |
6921 |
37,387 | |
| Document | ||
The notes to these accounts have 1 item. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 01-02-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 1 day after the deadline. Filed on 1 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00026298.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 01-02-2026 | 2026-00026298 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 |
|---|---|---|
| 40,387 | ||
| 36.0% | ||
| 57.2% | ||
| 2.34 | ||
| 0.75 | ||
| 92.6% | ||
| 52.9% | ||
| 80 days | ||
| 14 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Insights on Code Master
Debt's share of the balance-sheet total is 42.8%.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 31-07-2024
term without a fixed end
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 31-07-2024
Mandates through the years
1 name, the dashed line is todayVAIDA Robert
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- VAIDA Robert
- Director (not named in the articles), appointed by deed of 31-07-2024, still in office
Control
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €404 in 2025
- Source
- deed of 31-07-2024
Articles of association
deed of 31-07-2024 (in Dutch)- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of November at 10:00
Shareholders
At incorporation
deed of 31-07-2024 ↗
- VAIDA Robert 100 shares (100%) · €3,000
Network & group
No group
Code Master has no parent and no holdings in its annual accounts. VAIDA Robert is the only director. Code Master shares no director with another company.
The LEI register names no parent.
At the same address
Edward Keurvelsstraat 34, 2020 Antwerp · 1 other company| Vaida, Madalina (sole trader)
establishment since 01-02-2026 |
founded in 2026 1033.778.092 |
Timeline
Timeline
4 events since 2024Filings
Establishments
202420252026
2026
Annual accounts 2025 filed NBBmicro format · 1 day late
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1012022972
2024
IncorporationFounding capital of €3,000, 100 shares · Founder: VAIDA Robert · Appointment: VAIDA Robert (director) · published on 31-07-20243 points ▸
- Founder, VAIDA Robert
- Founding capital, €3,000, 100 shares
- Director appointment, VAIDA Robert (director (not named in the articles))
- The deed holds 1 more point.
First establishment Edward Keurvelsstraat 34, Antwerp
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Identity
- Enterprise number
- 1012.022.972
- VAT number
- BE 1012.022.972
- Peppol ID
- 0208:1012022972
- Other Peppol ID
- 9925:BE1012022972
- LEI code
- 8755009S6ZQ49RZBV320 live in the LEI register
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 29-07-2024
- Financial year
- ends on 30 June
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of November at 10:00deed of 31-07-2024 (in Dutch)
- Peppol
- Reachable since 24-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Code Master in Dutch
- Entity type
- Legal entity
- Name clauseThe company operates under this name according to its articles.
- Code Masterdeed of 31-07-2024 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”“Edward Keurvelsstraat 34, 2020 Antwerpen”deed of 31-07-2024 (in Dutch)
Activities
NACEBEL 202558290
Other software publishing main activity
73110
Advertising agencies
Codes under NACEBEL 2008
58290
Publishing activities main activity
18130
Pre-press and pre-media services
47910
Retail trade
70220
Business consulting
73110
Advertising, market research and public relations activities
74103
Other professional, scientific and technical activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Softwareontwikkeling en -ontwerp; Grafisch ontwerp en UI/UX; Reclame en marketing; E-commerce; Creatie van digitale inhoud; Consulting en…”deed of 31-07-2024 (in Dutch)
37 activities
- Softwareontwikkeling en -ontwerp
- Grafisch ontwerp en UI/UX
- Reclame en marketing
- E-commerce
- Creatie van digitale inhoud
- Consulting en strategie
- Training en opleiding
- Beheer en optimalisatie van e-mailmarketingcampagnes
- Klantenondersteuningsdiensten en klantrelatiebeheer voor e-commerce
- Ontwikkeling en verkoop van thema's en templates voor CMS-platforms (WordPress,Shopify,enz.)
- Softwareontwikkeling op maat (inclusief mobiele en webapplicaties)
- Integratie van softwaresystemen
- Websiteontwerp en -ontwikkeling
- Onderhoud en updaten van de website
- Zoekmachineoptimalisatie (SEO)
- Responsief ontwerp voor mobiele apparaten
- Grafisch ontwerp (logo's,visuele identiteit,reclamemateriaal)
- Ontwerp van gebruikersinterface (UI) en gebruikerservaring (UX).
- Interactieve prototyping en UX-testen
- Creatie en beheer van reclamecampagnes (online en offline)
- Advertentiestrategieën op zoekmachines en sociale netwerken (Google Ads,Facebook,Instagram,LinkedIn)
- Analyse en rapportage van campagneprestaties
- Ontwikkeling en beheer van online winkels
- Online fysieke en digitale producten verkopen
- Gebruik van e-commerceplatforms (Shopify,Etsy,ThriveCart)
- Optimalisatie van conversies en gebruikerservaring voor webwinkels
- Afbeeldingen,foto's en video's maken voor sociale media
- Foto- en videobewerking en nabewerking
- Creatie van specifieke inhoud voor gebieden zoals: eten,tuinieren,luxe,modellering,esthetiek
- Schrijven van artikelen en blogs
- Podcastproductie
- Consulting voor digitale marketingstrategieën en branding
- Analyse en planning van marketing- en merkstrategieën
- Online advies over prestatieoptimalisatie
- Workshops en cursussen over design,webontwikkeling en digitale marketing
- Trainingen voor het gebruik van e-commerceplatforms
- Socialmediamarketingcursussen
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Edward Keurvelsstraat 34 registered office 2020 Antwerp 47120 Other non-specialised retail sale | 29-07-2024 | 2.362.236.050 |
Buildings and parcels at the address
- Ground area
- 161 m²
- Buildings
- 82 m²
- Volume, LiDAR
- 478 m³
- Tallest building
- 7.8 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11809I2355/00E003 | 161 m² | 1 · 82 m² | 7.8 m · 2 |