Code200
ActiveSummary
Code200 has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €448 and a net result of €3,289. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 4343 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability49▼-29
Solvency25▲+1
Growth58=
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.5 against 0.51 in 2023; short-term debt: 88.4% and cash: 0.1% of total assets), and 99.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
0.2%
Return on assets
1.8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 4343 sector peers (2024).
NBB · sector comparisonPosition among 4343 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-10-2025, 89 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
89 d late
2023
150 d late
2022
67 d late
2021
113 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 105 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€448
2023 · -€2,841
Total assets
€186,522▼ 12.4%
2023 · €212,825
Net result
€3,289▼ 78.2%
2023 · €15,104
Working capital
-€81,595▲ 18.6%
2023 · -€100,206
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
Line2021202220232024
Operating result-€547-€24,820€17,510▼ 29.5%€14,619▼ 16.5%
Net result-€3,145-€19,815€15,104▼ 23.8%€3,289▼ 78.2%
Equity€1,855-€21,670▲ 1,068%-€2,841€448
Total assets€158,746-€187,487▲ 18.1%€212,825▲ 13.5%€186,522▼ 12.4%
Debt€156,891-€165,817▲ 5.7%€215,666▲ 30.1%€186,074▼ 13.7%
Working capital-€52,242--€90,435▼ 73.1%-€100,206▼ 10.8%-€81,595▲ 18.6%
Staff (FTE)11=1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 17% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €186,522
Fixed assets
€103,300 ▼ 6.3%
Current assets
€83,222 ▼ 18.9%
Equity and liabilities €186,522
Equity
€448
Debt
€186,074
Debt finances 99.8% of the balance-sheet total.
Key figures and ratios
EBITDA
€37,574▼
2023 · €37,699
Cash flow
€26,244▼
2023 · €35,293
Current ratio
0.50▼
2023 · 0.51
Quick ratio
0.18▼
2023 · 0.51
ROA
1.8%▼
2023 · 7.1%
Interest coverage
3.34▼
2023 · 20.31
Debt ≤ 1 year
€164,817▼
2023 · €202,801
Debt > 1 year
€21,257▲
2023 · €12,865
Income taxes
€161▼
2023 · €550
Staff costs
€37,858▼
2023 · €42,504
Equity ratios withheld: equity of €448 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,248 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.4%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,058 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% | 1.6% |
| 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 74% 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 1,248 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 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,777 | - | - | - |
| Remuneration, social security and pensions62 | - | €34,592 | €42,504 | €37,858 | ▼ 10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,283 | €19,429 | €20,189 | €22,955 | ▲ 13.7% |
| Other operating charges640/8 | €561 | €1,358 | €1,641 | €1,875 | ▲ 14.3% |
| Gross operating margin9900 | €15,297 | €80,199 | €81,844 | €77,307 | ▼ 5.5% |
| Operating profit (loss)9901 | -€547 | €24,820 | €17,510 | €14,619 | ▼ 16.5% |
| Financial income75/76B | - | €15 | - | €71 | - |
| Recurring financial income75 | - | €15 | - | €71 | - |
| Financial charges65/66B | €2,038 | €1,091 | €1,856 | €11,240 | ▲ 506% |
| Recurring financial charges65 | €2,038 | €1,091 | €1,856 | €11,240 | ▲ 506% |
| Profit (loss) for the period before taxes9903 | -€2,585 | €23,744 | €15,654 | €3,450 | ▼ 78.0% |
| Income taxes67/77 | €560 | €3,929 | €550 | €161 | ▼ 70.7% |
| Profit (loss) for the period9904 | -€3,145 | €19,815 | €15,104 | €3,289 | ▼ 78.2% |
| Profit (loss) for the period to be appropriated9905 | -€3,145 | €19,815 | €15,104 | €3,289 | ▼ 78.2% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €158,746 | €187,487 | €212,825 | €186,522 | ▼ 12.4% |
| Fixed assets21/28 | €62,130 | €120,238 | €110,230 | €103,300 | ▼ 6.3% |
| Intangible fixed assets21 | €38,484 | €29,388 | €20,018 | €22,381 | ▲ 11.8% |
| Tangible fixed assets22/27 | €23,646 | €90,850 | €90,212 | €80,919 | ▼ 10.3% |
| Land and buildings22 | - | €72,485 | €68,670 | €64,855 | ▼ 5.6% |
| Plant, machinery and equipment23 | €2,402 | €1,801 | €10,380 | €10,283 | ▼ 0.9% |
| Furniture and vehicles24 | €21,244 | €16,564 | €11,162 | €5,781 | ▼ 48.2% |
| Current assets29/58 | €96,616 | €67,249 | €102,595 | €83,222 | ▼ 18.9% |
| Stocks and contracts in progress3 | - | - | - | €52,845 | - |
| Contracts in progress37 | - | - | - | €52,845 | - |
| Amounts receivable within one year40/41 | €85,972 | €67,064 | €96,575 | €28,933 | ▼ 70.0% |
| Trade receivables40 | €85,130 | €61,146 | €95,765 | €23,076 | ▼ 75.9% |
| Other amounts receivable41 | €842 | €5,918 | €810 | €5,857 | ▲ 623% |
| Cash at bank and in hand54/58 | €7,459 | €185 | €4,073 | €157 | ▼ 96.1% |
| Deferred charges and accrued income490/1 | €3,185 | - | €1,947 | €1,287 | ▼ 33.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €158,746 | €187,487 | €212,825 | €186,522 | ▼ 12.4% |
| Equity10/15 | €1,855 | €21,670 | -€2,841 | €448 | ▲ 116% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€3,145 | €16,670 | -€7,841 | -€4,552 | ▲ 41.9% |
| Amounts payable17/49 | €156,891 | €165,817 | €215,666 | €186,074 | ▼ 13.7% |
| Amounts payable after more than one year17 | €8,033 | €8,133 | €12,865 | €21,257 | ▲ 65.2% |
| Financial debts170/4 | €8,033 | €8,133 | €12,865 | €21,257 | ▲ 65.2% |
| Amounts payable within one year42/48 | €148,858 | €157,684 | €202,801 | €164,817 | ▼ 18.7% |
| Current portion of amounts payable after more than one year42 | €4,939 | €8,006 | €15,202 | €26,050 | ▲ 71.4% |
| Financial debts43 | €15,000 | - | €4,500 | €59,553 | ▲ 1,223% |
| Credit institutions430/8 | €15,000 | - | €4,500 | €59,553 | ▲ 1,223% |
| Trade debts44 | €121,585 | €4,935 | €18,160 | €41,167 | ▲ 127% |
| Suppliers440/4 | €121,585 | €4,935 | €18,160 | €41,167 | ▲ 127% |
| Taxes, remuneration and social security45 | €799 | €28,889 | €30,841 | €14,100 | ▼ 54.3% |
| Taxes450/3 | €799 | €27,139 | €19,485 | €14,100 | ▼ 27.6% |
| Remuneration and social security454/9 | - | €1,750 | €11,356 | - | - |
| Other amounts payable47/48 | €6,535 | €115,854 | €134,098 | €23,947 | ▼ 82.1% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,145 | €19,815 | €15,104 | €3,289 | ▼ 78.2% |
| + Depreciation and write-downs630 | €15,283 | €19,429 | €20,189 | €22,955 | ▲ 13.7% |
| Operating cash flow (approximation) | €12,138 | €39,244 | €35,293 | €26,244 | ▼ 25.6% |
| Investment in fixed assets (approximation) | - | -€77,537 | -€10,181 | -€16,025 | ▼ 57.4% |
| Change in cash | - | -€7,274 | €3,888 | -€3,916 | ▼ 201% |
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
2025
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
2024
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 150 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
31-12
Financial
Back to profitnet €19,815
Net result €19,815 after one loss-making year.
21-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 113 days late
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, Ledegem · 1 establishment unit since 2021
Ground area
347 m²
Building footprint
162 m²
Volume, LiDAR
589 m³
Parcel 36016B0125/00E003, Flanders · tallest building 8.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Code200
since 20212.311.994.703
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36016B0125/00E003 | Flanders | 347 m² | 1 · 162 m² | 8.0 m · 1 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
2023 · 1 entry · 165 EUR awarded · 165 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 165 EUR | 165 EUR |
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Of 686 companies in sector 74112 we hold annual accounts for 312. 10 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
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
74112Other professional, scientific and technical activities
18130Pre-press and pre-media services
46190Agents in non-specialised wholesale trade
70200Business and other management consultancy
74120Graphic design and visual communication
82990Other business support services
96999Other personal services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0760301341
Also
9925:BE0760301341
Registered
04-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.