Equity
Code Minéral has made a profit in every financial year since 2023.
The dashed line is the sector median: 0.1% across 25,925 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 65% of them on solvency, 62% on liquidity, 55% on profitability and 73% on growth.
The bankruptcy probability was computed on 06-11-2026 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 31-12-2025.
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).
In July 2024, 39,278 companies had the same profile as Code Minéral has now. Each dot stands for 99 companies, two years later.
The bankruptcy probability of Code Minéral itself is lower: 0.1% within 12 months. It rests on far more data about Code Minéral than the profile alone.
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 Minéral. 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.
Liquidity is ample, with a current ratio of 3.42 (2.42 in 2024), above the usual 1.5. Short-term debt is 28.3% and cash 31.7% of total assets. 28.3% of the assets are financed with debt and provisions.
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.
The company filed its last 3 accounts on average 21 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Code Minéral La Bruyère | €33,049 | €18,978 | 71.7% | - |
| CYNDEV Spa | €31,637 | €18,976 | 30.9% | - |
| Estee Aalst | €32,988 | €20,526 | 63.7% | - |
| Segers - De Schuijmer Gavere | €34,162 | €20,702 | 62.2% | - |
| HEIRMAN DATACONSULTING Merchtem | €38,128 | €19,273 | 67.2% | - |
| Have A Nice Day Welkenraedt | €35,693 | €21,260 | 70.8% | - |
| ZYBEAU Sint-Pieters-Leeuw | €29,990 | €20,534 | 68.3% | - |
These companies have the same main activity as Code Minéral: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €30,000 and €38,100, founded between 2023 and 2024.
Code Minéral files the micro format. That format states no turnover. The gross margin rose from €18,497 in 2023 to €18,978 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €100,000. Estimated: probably between €49,000 and €200,000.
Higher than 63% of 21,186 companies in 2025.
Higher than 63% of 20,549 companies in 2025.
Higher than 50% of 20,725 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
33,049 | 29,174 | 24,016 | |
20 |
1,064 | 1,459 | 1,853 | |
29/58 |
31,985 | 27,715 | 22,163 | |
3 |
655 | 1,021 | 765 | |
30/36 |
655 | 1,021 | 765 | |
40/41 |
19,103 | 18,305 | 11,646 | |
40 |
8,129 | 9,346 | 10,421 | |
41 |
10,973 | 8,960 | 1,225 | |
54/58 |
10,487 | 5,863 | 9,752 | |
490/1 |
1,740 | 2,526 | - | |
| Balance sheet: equity and liabilities | ||||
10/49 |
33,049 | 29,174 | 24,016 | |
10/15 |
23,703 | 17,734 | 16,055 | |
10/11 |
2,500 | 2,500 | 2,500 | |
14 |
21,203 | 15,234 | 13,555 | |
17/49 |
9,345 | 11,440 | 7,962 | |
42/48 |
9,345 | 11,440 | 7,962 | |
44 |
- | 13 | - | |
440/4 |
0 | 13 | - | |
45 |
9,345 | 11,427 | 7,962 | |
450/3 |
9,345 | 11,427 | 7,962 | |
| Income statement | ||||
9900 |
18,978 | 2,945 | 18,497 | |
630 |
395 | 395 | 120 | |
640/8 |
8,400 | - | 50 | |
9901 |
10,183 | 2,551 | 18,327 | |
75/76B |
1 | 2 | - | |
75 |
1 | 2 | - | |
65/66B |
1,389 | -49 | 116 | |
65 |
1,389 | -49 | 116 | |
9903 |
8,795 | 2,602 | 18,211 | |
67/77 |
2,826 | 922 | 4,656 | |
9904 |
5,969 | 1,680 | 13,555 | |
9905 |
5,969 | 1,680 | 13,555 | |
| Appropriation of the result | ||||
9906 |
21,203 | 15,234 | 13,555 | |
14P |
15,234 | 13,555 | - | |
| Document | ||||
The notes to these accounts have 2 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00501257.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 10,578 | 2,945 | 18,447 | ||
| 6,364 | 2,074 | 13,674 | ||
| 0 | 0 | - | ||
| 4,624 | -3,889 | - | ||
| 22,639 | 16,276 | 14,201 | ||
| 71.7% | 60.8% | 66.8% | ||
| 3.42 | 2.42 | 2.78 | ||
| 3.35 | 2.33 | 2.69 | ||
| 0.39 | 0.65 | 0.50 | ||
| 25.2% | 9.5% | 84.4% | ||
| 18.1% | 5.8% | 56.4% | ||
| 7.62 | -60.20 | over 100 |
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.
The operating result for 2025 is 4 times that of 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 39.2% to 28.3%. Equity is higher and debt is lower.
Code Minéral has no parent and no holdings in its annual accounts. Code Minéral shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Liernu, Meux 4 registered office 5081 La Bruyère 1813004 Pre-press and pre-media services | 13-09-2023 | 2.350.389.281 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 92088C0384/00W000 | 1,775 m² | 1 · 177 m² | 7.6 m · 2 |
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