Code The Kiwi
ActiveSummary
Code The Kiwi has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59,943 and a net result of €57,443. Its solvency ranks better than 46% of 21,007 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
- Equity
- €59,943
- Profit
- €57,443
Why 71raises risk2 changes of registered office in 24 monthslowers riskSector: Computer programming, consultancy and related activities (NACE 62)Liquidity: current ratio 2.27, cash €53,429Size: total assets €107,234Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 48% on solvency, 62% on liquidity and 82% on profitability.
The bankruptcy probability was computed on 19-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Resignations: Pedro Ferraz Studart Lopes (director)…Registered-office move · Director discharge
- Annual accounts filedfinancial year 2025 · micro…
- Registered officeRegistered-office move · Power of…
Financials · financial year 2025, micro format
Turnover and EBIT margin not published: the micro format does not require them.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.8% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 39,278 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €867 |
| Other operating charges640/8 | €854 |
| Gross operating margin9900 | €81,075 |
| Operating profit (loss)9901 | €79,354 |
| Financial income75/76B | €0 |
| Recurring financial income75 | €0 |
| Financial charges65/66B | €146 |
| Recurring financial charges65 | €146 |
| Profit (loss) for the period before taxes9903 | €79,208 |
| Income taxes67/77 | €21,766 |
| Profit (loss) for the period9904 | €57,443 |
| Profit (loss) for the period to be appropriated9905 | €57,443 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €107,234 | |
| Current assets29/58 | €107,234 | |
| Amounts receivable within one year40/41 | €52,779 | |
| Trade receivables40 | €52,753 | |
| Other amounts receivable41 | €26 | |
| Cash at bank and in hand54/58 | €53,429 | |
| Deferred charges and accrued income490/1 | €1,026 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €107,234 | |
| Equity10/15 | €59,943 | |
| Contributions10/11 | €2,500 | |
| Reserves13 | €57,443 | |
| Distributable reserves133 | €57,443 | |
| Amounts payable17/49 | €47,291 | |
| Amounts payable within one year42/48 | €47,291 | |
| Financial debts43 | €1,690 | |
| Credit institutions430/8 | €1,690 | |
| Trade debts44 | €13,904 | |
| Suppliers440/4 | €13,904 | |
| Taxes, remuneration and social security45 | €31,661 | |
| Taxes450/3 | €31,661 | |
| Other amounts payable47/48 | €36 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €57,443 |
| + Depreciation and write-downs630 | €867 |
| Operating cash flow (approximation) | €58,310 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 04-05-2026 | 2026-00099892 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2025 · 1 entry · €3,750 awarded · €3,750 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Ferraz Studart Lopes, Pedro |
|
| Maxime De Mey |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
06-07
Gazette deed
Resignations: Pedro Ferraz Studart Lopes (director) and Maxime De Mey (director)Registered-office move · Director discharge7 facts ▸
- General meeting, 05-06-2026
- Director resignation, Pedro Ferraz Studart Lopes (director (not named in the articles))
- Director resignation, Maxime De Mey (director (not named in the articles))
- Board meeting, 05-06-2026
- Registered-office move, 2180 Antwerpen, Neerhofstraat 9 bus 101
- Director discharge, Pedro Ferraz Studart Lopes
- Director discharge, Maxime De Mey
23-02
Gazette deed
Registered officeRegistered-office move · Power of attorney3 facts ▸
- Registered-office move, 2850 Boom - Kerkstraat 39 bus 1.3
- Board meeting, 13-01-2026
- Power of attorney, I.B.A. Integraal bedrijfsadvies
23-09
Gazette deed
IncorporationAppointments: Brouwers Tim, FERRAZ STUDART LOPES, Pedro and 2 others · Founder · Founding capital12 facts ▸
- Incorporation, 18-09-2024
- Founder, BROUWERS, Tim Timothy Victor Maria
- Founder, FERRAZ STUDART LOPES, Pedro
- Founder, VAN RAEMDONCK, Ben Georges Clothilde
- Founder, DE MEY, Maxime Laurent Irene
- Founding capital, €2,500
- Bank account, “gedeponeerde stortingen, bijzondere rekening op naam van de vennootschap in oprichting” (deed in Dutch)
- Board rule, 4, “aantal bestuurders” (deed in Dutch)
- Director appointment, Brouwers Tim (director)
- Director appointment, FERRAZ STUDART LOPES, Pedro (director)
- Director appointment, Van Raemdonck Ben (director)
- Director appointment, De Mey Maxime (director)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 20 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11014H0487/00D003 | Flanders | 312 m² | 1 · 96 m² | 10.0 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het verlenen van administratieve prestaties en computerservices; Alle commerciële, industriële en financiële verrichtingen aangaande of in…” (deed in Dutch)
11 activities (deed in Dutch)
- Het verlenen van administratieve prestaties en computerservices
- Alle commerciële, industriële en financiële verrichtingen aangaande of in verband met het uitvoeren van elke handeling betreffende computers en software voor cliënten in België of in het buitenland
- Alle verrichtingen aangaande invoer, het uitrusten, het bouwen, de aan- en verkoop, het huren en verhuren, het vervoer en het opslaan, het uitbaten en het omvormen van computers en software van bijhorigheden, van materialen en van alle voorwerpen in rechtstreeks of onrechtstreeks verband of die van aard zijn hun activiteiten te begunstigen
- De realisatie van programma’s voor computers en software, de aan en verkoop van zulkdanige programma’s zowel in België als in het buitenland
- Het verlenen van diensten voor het uitvoeren, bij middel van computers en software, van alle verrichtingen voor Belgische of buitenlandse cliënten
- De studie, de proefneming, het uittesten en het herstellen van alle computers en software
- Het verstrekken van advies, diensten en het herstellen van alle computers en software
- Het onderzoek, de ontwikkeling, de vervaardiging of commercialisering van nieuwe producten, nieuwe vormen van technologie en hun toepassingen
- Het waarnemen van alle managementfuncties, bestuursopdrachten en opdrachten van vereffenaars, het uitoefenen van opdrachten en functies
- Het ontwikkelen, kopen, verkopen, in licentie nemen of geven van octrooien, knowhow en aanverwante immateriële duurzame activa
- Het verwerven van participaties in eender welke vorm in alle bestaande of op te richten rechtspersonen en vennootschappen, het stimuleren, de planning, de coördinatie, de ontwikkeling van en de investering in rechtspersonen en ondernemingen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Code The Kiwi
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, 2860 Sint-Katelijne-Waver, Berlaarbaan (CEN) 195” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “De statuten kunnen bepalen dat de bestuurders een collegiaal bestuursorgaan vormen. De statuten kunnen de bevoegdheden van dit collegiaal…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Aantal–Benoeming, 1” (deed in Dutch)“Ontslag, door overblijvende bestuurders tenzij statuten uitsluiten” (deed in Dutch)3 more provisions on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of June at 18:00