CODE ZERO
ActiveSummary
CODE ZERO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €47,169 and a net result of €44,158. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 32% of 12819 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency61▼-15
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 1.7 in 2024; short-term debt: 64% and cash: 57.7% of total assets), and 64% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
36%
Return on assets
33.7%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
2 d late
2024
17 d late
2023
1 d late
2022
on the day
2021
25 d late
2020
1 d late
2019
25 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 10 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 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 2 February (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€147,142
EBIT margin
38.8%
Net result
€44,158▲ 19.2%
2024 · €37,058
Working capital
€13,392▼ 54.9%
2024 · €29,682
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€147,142
Operating result€32,360▼ 17.1%€24,033▼ 25.7%€44,603▲ 85.6%€49,240▲ 10.4%€57,109▲ 16.0%
Net result€23,892within the sector's middle half▼ 16.8%€17,286within the sector's middle half▼ 27.6%€34,525within the sector's middle half▲ 99.7%€37,058within the sector's middle half▲ 7.3%€44,158within the sector's middle half▲ 19.2%
EBIT margin38.8%
Equity€54,142within the sector's middle half▲ 7.7%€51,428within the sector's middle half▼ 5.0%€45,953within the sector's middle half▼ 10.6%€43,010within the sector's middle half▼ 6.4%€47,169within the sector's middle half▲ 9.7%
Total assets€117,474within the sector's middle half▼ 0.2%€94,155below the sector's middle half▼ 19.9%€80,981below the sector's middle half▼ 14.0%€85,153below the sector's middle half▲ 5.2%€131,121within the sector's middle half▲ 54.0%
Debt€63,332▼ 6.2%€42,727▼ 32.5%€35,028▼ 18.0%€42,143▲ 20.3%€83,952▲ 99.2%
Working capital€38,808within the sector's middle half▲ 10.1%€39,648within the sector's middle half▲ 2.2%€31,404within the sector's middle half▼ 20.8%€29,682within the sector's middle half▼ 5.5%€13,392within the sector's middle half▼ 54.9%
Solvency46.1%within the sector's middle half▲ 3.4pp54.6%within the sector's middle half▲ 8.5pp56.7%within the sector's middle half▲ 2.1pp50.5%within the sector's middle half▼ 6.2pp36.0%within the sector's middle half▼ 14.5pp
Current ratio1.70within the sector's middle half▲ 0.051.99within the sector's middle half▲ 0.291.90within the sector's middle half▼ 0.101.70within the sector's middle half▼ 0.191.16within the sector's middle half▼ 0.54
Return on assets (ROA)20.3%within the sector's middle half▼ 4.1pp18.4%within the sector's middle half▼ 2.0pp42.6%above the sector's middle half▲ 24.3pp43.5%above the sector's middle half▲ 0.9pp33.7%within the sector's middle half▼ 9.8pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €131,121
Fixed assets
€33,777 ▲ 153%
Current assets
€97,344 ▲ 35.5%
Equity and liabilities €131,121
Equity
€47,169 ▲ 9.7%
Debt
€83,952 ▲ 99.2%
Debt's share of the balance-sheet total rises from 49.5% to 64.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€62,503▲
2024 · €52,279
Cash flow
€49,553▲
2024 · €40,097
Quick ratio
1.04▼
2024 · 1.49
Debt to equity
1.78▲
2024 · 0.98
ROE
93.6%▲
2024 · 86.2%
Interest coverage
110.30▲
2024 · 108.10
Debt ≤ 1 year
€83,952▲
2024 · €42,143
Income taxes
€12,385▲
2024 · €11,702
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €147,142 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €96,140 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,841 | €12,220 | €3,693 | €3,039 | €5,394 | ▲ 77.5% |
| Other operating charges640/8 | - | €1,161 | €474 | €1,353 | €1,509 | ▲ 11.5% |
| Non-recurring operating charges66A | - | €81 | - | - | - | - |
| Gross operating margin9900 | €44,894 | €37,496 | €48,770 | €53,632 | €64,012 | ▲ 19.4% |
| Operating profit (loss)9901 | €32,360 | €24,033 | €44,603 | €49,240 | €57,109 | ▲ 16.0% |
| Financial income75/76B | - | €143 | €249 | €3 | €1 | ▼ 80.4% |
| Recurring financial income75 | - | €143 | €249 | €3 | €1 | ▼ 80.4% |
| Financial charges65/66B | - | €397 | €423 | €484 | €567 | ▲ 17.2% |
| Recurring financial charges65 | €352 | €397 | €423 | €484 | €567 | ▲ 17.2% |
| Profit (loss) for the period before taxes9903 | €32,009 | €23,778 | €44,428 | €48,760 | €56,543 | ▲ 16.0% |
| Income taxes67/77 | €8,116 | €6,492 | €9,904 | €11,702 | €12,385 | ▲ 5.8% |
| Profit (loss) for the period9904 | €23,892 | €17,286 | €34,525 | €37,058 | €44,158 | ▲ 19.2% |
| Profit (loss) for the period to be appropriated9905 | €23,892 | €17,286 | €34,525 | €37,058 | €44,158 | ▲ 19.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117,474 | €94,155 | €80,981 | €85,153 | €131,121 | ▲ 54.0% |
| Fixed assets21/28 | €23,395 | €14,646 | €14,549 | €13,328 | €33,777 | ▲ 153% |
| Tangible fixed assets22/27 | €23,314 | €14,565 | €14,468 | €13,248 | €33,696 | ▲ 154% |
| Plant, machinery and equipment23 | - | - | - | - | €0 | - |
| Furniture and vehicles24 | - | €5,261 | €4,214 | €1,497 | €22,209 | ▲ 1,384% |
| Other tangible fixed assets26 | - | €9,304 | €10,254 | €11,751 | €11,487 | ▼ 2.2% |
| Financial fixed assets28 | €80 | €80 | €80 | €80 | €80 | = |
| Current assets29/58 | €94,079 | €79,509 | €66,432 | €71,825 | €97,344 | ▲ 35.5% |
| Stocks and contracts in progress3 | - | €837 | €3,486 | €9,164 | €9,873 | ▲ 7.7% |
| Stocks30/36 | - | €837 | €3,486 | €9,164 | €9,873 | ▲ 7.7% |
| Amounts receivable within one year40/41 | €15,748 | €7,186 | €17,414 | €9,059 | €10,683 | ▲ 17.9% |
| Trade receivables40 | - | €4,074 | €15,861 | €9,020 | €10,660 | ▲ 18.2% |
| Other amounts receivable41 | - | €3,112 | €1,553 | €40 | €23 | ▼ 42.0% |
| Cash at bank and in hand54/58 | €77,649 | €70,575 | €44,767 | €52,678 | €75,715 | ▲ 43.7% |
| Deferred charges and accrued income490/1 | - | €912 | €765 | €924 | €1,074 | ▲ 16.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117,474 | €94,155 | €80,981 | €85,153 | €131,121 | ▲ 54.0% |
| Equity10/15 | €54,142 | €51,428 | €45,953 | €43,010 | €47,169 | ▲ 9.7% |
| Contributions10/11 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Outside capital11 | - | €18,550 | €18,550 | €18,550 | - | - |
| Share premium1100/10 | - | €18,550 | €18,550 | €18,550 | - | - |
| Reserves13 | €2,038 | €2,038 | €2,038 | €2,038 | €2,038 | = |
| Tax-exempt reserves132 | - | €183 | €183 | €183 | €183 | = |
| Distributable reserves133 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | €33,554 | €30,840 | €25,364 | €22,422 | €26,581 | ▲ 18.5% |
| Amounts payable17/49 | €63,332 | €42,727 | €35,028 | €42,143 | €83,952 | ▲ 99.2% |
| Amounts payable after more than one year17 | €8,061 | €2,866 | - | - | - | - |
| Financial debts170/4 | - | €2,866 | - | - | - | - |
| Amounts payable within one year42/48 | €55,271 | €39,861 | €35,028 | €42,143 | €83,952 | ▲ 99.2% |
| Current portion of amounts payable after more than one year42 | - | €5,195 | €2,375 | - | €16,447 | - |
| Trade debts44 | €2,367 | €4,365 | €1,604 | €8,647 | €11,306 | ▲ 30.7% |
| Suppliers440/4 | - | €4,365 | €1,604 | €8,647 | €11,306 | ▲ 30.7% |
| Taxes, remuneration and social security45 | - | €12,961 | €13,004 | €14,485 | €13,491 | ▼ 6.9% |
| Taxes450/3 | - | €12,928 | €13,004 | €14,485 | €13,491 | ▼ 6.9% |
| Remuneration and social security454/9 | - | €32 | - | - | - | - |
| Other amounts payable47/48 | - | €17,340 | €18,046 | €19,011 | €42,708 | ▲ 125% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,892 | €17,286 | €34,525 | €37,058 | €44,158 | ▲ 19.2% |
| + Depreciation and write-downs630 | €10,841 | €12,220 | €3,693 | €3,039 | €5,394 | ▲ 77.5% |
| Operating cash flow (approximation) | €34,733 | €29,506 | €38,217 | €40,097 | €49,553 | ▲ 23.6% |
| Investment in fixed assets (approximation) | - | -€3,471 | -€3,596 | -€1,818 | -€25,842 | ▼ 1,321% |
| Change in cash | - | -€7,074 | -€25,808 | €7,912 | €23,036 | ▲ 191% |
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
30-06
Financial
Highest result since 2019net €44,158 ▲19.2%
Operating result €57,109, net result €44,158, both a record.
17-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 17 days late
2024
01-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet €17,286 ▼27.6%
Net result drops to €17,286, the lowest in the series; recovery starts the following year.
25-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 1 day late
2020
25-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
2019
01-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ukkel · 1 establishment unit since 2015
Ground area
223 m²
Building footprint
81 m²
Volume, LiDAR
741 m³
Parcel 21612D0176/00P005, Brussels · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Dolezlaan 56, 1180 Ukkel
since 20152.244.747.373
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612D0176/00P005 | Brussels | 223 m² | 1 · 81 m² | 12.2 m · 3 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.
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Of 2,771 companies in sector 69109 we hold annual accounts for 1,209. 913 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
Founded27-08-2015
Fiscal year end30-06
Abbreviation FR
COZ
Activities, NACEBEL 2025
69109Other legal services
31009Manufacture of furniture
68201Renting and operating of own or leased residential real estate, excluding social housing
70100Activities of head offices
70200Business and other management consultancy
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0635834901
Also
9925:BE0635834901
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.