CODE ZERO
ActiveSummary
CODE ZERO has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144,586 and a net result of €10,839. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 32% of 8711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-12
Solvency57▲+5
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.29 against 1.26 in 2024; short-term debt: 8.6% and cash: 7.1% of total assets), and 68.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
31.9%
Return on assets
2.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
20 d early
2023
13 d early
2022
33 d early
2021
43 d late
2020
58 d late
2019
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€144,586▲ 8.1%
2024 · €133,747
Total assets
€453,492▼ 6.8%
2024 · €486,455
Net result
€10,839▼ 81.6%
2024 · €58,779
Working capital
€11,179▼ 21.6%
2024 · €14,254
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,720▼ 36.0%-€27,244€61,282€88,136▲ 43.8%€24,755▼ 71.9%
Net result€1,485▲ 414%-€32,464€37,287€58,779▲ 57.6%€10,839▼ 81.6%
Equity€70,145▲ 2.2%€37,681▼ 46.3%€74,968▲ 99.0%€133,747▲ 78.4%€144,586▲ 8.1%
Total assets€532,068▲ 1.7%€469,724▼ 11.7%€452,197▼ 3.7%€486,455▲ 7.6%€453,492▼ 6.8%
Debt€461,923▲ 1.7%€432,043▼ 6.5%€377,228▼ 12.7%€352,708▼ 6.5%€308,905▼ 12.4%
Working capital-€12,978▲ 9.3%-€35,020▼ 170%-€18,358▲ 47.6%€14,254€11,179▼ 21.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 72% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €453,492
Fixed assets
€403,147 ▼ 3.5%
Current assets
€50,344 ▼ 26.7%
Equity and liabilities €453,492
Equity
€144,586 ▲ 8.1%
Debt
€308,905 ▼ 12.4%
Debt's share of the balance-sheet total falls from 72.5% to 68.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€45,529▼
2024 · €105,524
Cash flow
€31,613▼
2024 · €76,167
Current ratio
1.29▲
2024 · 1.26
Debt to equity
2.14▼
2024 · 2.64
ROE
7.5%▼
2024 · 43.9%
ROA
2.4%▼
2024 · 12.1%
Interest coverage
6.27▼
2024 · 19.10
Debt ≤ 1 year
€39,166▼
2024 · €54,425
Debt > 1 year
€269,740▼
2024 · €298,283
Income taxes
€7,366▼
2024 · €24,566
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,681 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,186 | €27,575 | €20,248 | €17,388 | €20,774 | ▲ 19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €100 | - | - |
| Other operating charges640/8 | €3,762 | €2,296 | €867 | €811 | €2,259 | ▲ 179% |
| Non-recurring operating charges66A | €3,701 | €1,548 | €3,629 | - | - | - |
| Gross operating margin9900 | €49,368 | €4,175 | €86,026 | €106,435 | €47,788 | ▼ 55.1% |
| Operating profit (loss)9901 | €10,720 | -€27,244 | €61,282 | €88,136 | €24,755 | ▼ 71.9% |
| Financial income75/76B | €96 | €4 | €0 | €734 | €714 | ▼ 2.7% |
| Recurring financial income75 | €96 | €4 | €0 | €734 | €714 | ▼ 2.7% |
| Financial charges65/66B | €8,284 | €4,997 | €4,870 | €5,525 | €7,263 | ▲ 31.5% |
| Recurring financial charges65 | €8,284 | €4,997 | €4,870 | €5,525 | €7,263 | ▲ 31.5% |
| Profit (loss) for the period before taxes9903 | €2,531 | -€32,238 | €56,412 | €83,345 | €18,205 | ▼ 78.2% |
| Income taxes67/77 | €1,046 | €227 | €19,125 | €24,566 | €7,366 | ▼ 70.0% |
| Profit (loss) for the period9904 | €1,485 | -€32,464 | €37,287 | €58,779 | €10,839 | ▼ 81.6% |
| Profit (loss) for the period to be appropriated9905 | €1,485 | -€32,464 | €37,287 | €58,779 | €10,839 | ▼ 81.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €532,068 | €469,724 | €452,197 | €486,455 | €453,492 | ▼ 6.8% |
| Fixed assets21/28 | €471,116 | €445,647 | €424,976 | €417,776 | €403,147 | ▼ 3.5% |
| Tangible fixed assets22/27 | €471,116 | €445,397 | €424,621 | €417,421 | €402,792 | ▼ 3.5% |
| Land and buildings22 | €412,757 | €401,608 | €405,109 | €391,561 | €379,382 | ▼ 3.1% |
| Plant, machinery and equipment23 | €4,716 | €2,730 | €879 | - | - | - |
| Furniture and vehicles24 | €40,043 | €27,460 | €5,033 | €12,260 | €9,811 | ▼ 20.0% |
| Other tangible fixed assets26 | €13,600 | €13,600 | €13,600 | €13,600 | €13,600 | = |
| Financial fixed assets28 | - | €250 | €355 | €355 | €355 | = |
| Current assets29/58 | €60,952 | €24,077 | €27,220 | €68,679 | €50,344 | ▼ 26.7% |
| Amounts receivable within one year40/41 | €6,609 | €21,664 | €15,518 | €11,455 | €16,861 | ▲ 47.2% |
| Trade receivables40 | €6,292 | €21,595 | €15,518 | €11,434 | €9,823 | ▼ 14.1% |
| Other amounts receivable41 | €317 | €69 | - | €21 | €7,038 | ▲ 33,414% |
| Cash at bank and in hand54/58 | €42,372 | €2,412 | €6,905 | €54,632 | €32,149 | ▼ 41.2% |
| Deferred charges and accrued income490/1 | €11,971 | - | €4,797 | €2,592 | €1,334 | ▼ 48.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €532,068 | €469,724 | €452,197 | €486,455 | €453,492 | ▼ 6.8% |
| Equity10/15 | €70,145 | €37,681 | €74,968 | €133,747 | €144,586 | ▲ 8.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €51,545 | €19,081 | €56,368 | €115,147 | €125,986 | ▲ 9.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €49,685 | €17,221 | €56,368 | €115,147 | €125,986 | ▲ 9.4% |
| Amounts payable17/49 | €461,923 | €432,043 | €377,228 | €352,708 | €308,905 | ▼ 12.4% |
| Amounts payable after more than one year17 | €385,355 | €372,947 | €331,650 | €298,283 | €269,740 | ▼ 9.6% |
| Financial debts170/4 | €385,355 | €372,947 | €331,650 | €298,283 | €269,740 | ▼ 9.6% |
| Amounts payable within one year42/48 | €73,930 | €59,097 | €45,578 | €54,425 | €39,166 | ▼ 28.0% |
| Current portion of amounts payable after more than one year42 | €25,532 | €25,981 | €26,437 | €26,902 | €27,375 | ▲ 1.8% |
| Financial debts43 | - | - | - | €7,057 | - | - |
| Credit institutions430/8 | - | - | - | €7,057 | - | - |
| Trade debts44 | €44,130 | €30,782 | €2,373 | €1,476 | €1,766 | ▲ 19.7% |
| Suppliers440/4 | €44,130 | €30,782 | €2,373 | €1,476 | €1,766 | ▲ 19.7% |
| Taxes, remuneration and social security45 | €3,990 | €2,334 | €16,768 | €10,787 | €10,024 | ▼ 7.1% |
| Taxes450/3 | €3,990 | €2,334 | €12,915 | €10,787 | €7,774 | ▼ 27.9% |
| Remuneration and social security454/9 | - | - | €3,854 | - | €2,250 | - |
| Other amounts payable47/48 | €279 | - | - | €8,203 | - | - |
| Accrued charges and deferred income492/3 | €2,638 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,485 | -€32,464 | €37,287 | €58,779 | €10,839 | ▼ 81.6% |
| + Depreciation and write-downs630 | €31,186 | €27,575 | €20,248 | €17,388 | €20,774 | ▲ 19.5% |
| Operating cash flow (approximation) | €32,671 | -€4,889 | €57,535 | €76,167 | €31,613 | ▼ 58.5% |
| Investment in fixed assets (approximation) | - | -€2,107 | €424 | -€10,188 | -€6,145 | ▲ 39.7% |
| Change in cash | - | -€39,959 | €4,493 | €47,727 | -€22,483 | ▼ 147% |
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
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €58,779 ▲57.6%
Operating result €88,136, net result €58,779, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.26
Current ratio from 0.60 to 1.26.
31-12
Financial
Equity above €100,000Eq €133,747 ▲78.4%
2 profitable years in a row build equity to €133,747.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €37,287
Net result €37,287 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€32,464
Net result drops to -€32,464, the lowest in the series; recovery starts the following year.
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 43 days late
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
Show earlier events
2019
08-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 69 days late
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 60 days late
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Knokke-Heist · 1 establishment unit since 2000
Ground area
331 m²
Building footprint
113 m²
Volume, LiDAR
669 m³
Parcel 31338E0531/00_000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Acacialaan 10, 8301 Knokke-Heist
since 20002.099.767.512
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31338E0531/00_000 | Flanders | 331 m² | 1 · 113 m² | 8.6 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 2,255 EUR awarded · 2,255 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 627 EUR | 1,343 EUR |
| 2024 | 1 | 716 EUR | 0 EUR |
| 2022 | 1 | 912 EUR | 912 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
98450064909FF37F8A41
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,583. 40,849 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-08-2000
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
wim_loncke@skynet.beKnokke-Heist
Phone
0485-575 096Knokke-Heist
Scores and ratios are computed by Checked and are not a credit decision.