CODEBAT CONSTRUCTION
ActiveSummary
The computed 12-month bankruptcy probability of CODEBAT CONSTRUCTION is 2.1% (moderate). The 2024 annual accounts show equity of €35,293 and a net result of €16,218. Equity is growing by ~35.3% per year across the filed fiscal years. Its solvency ranks better than 50% of 9982 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability93▲+78
Solvency67▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.31 in 2023; short-term debt: 57.9% and cash: 43.8% of total assets), and 57.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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
42.1%
Return on assets
19.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
31 d late
2022
116 d early
2021
31 d early
2020
40 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€35,293▲ 85.0%
2023 · €19,075
Total assets
€83,794▲ 4.4%
2023 · €80,249
Net result
€16,218
2023 · -€2,481
Working capital
€949▼ 95.0%
2023 · €19,075
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
Line20202021202220232024
Operating result-€3,113--€7,303▼ 135%€23,553-€3,088€21,985
Net result-€3,544--€7,375▼ 108%€20,075-€2,481€16,218
Equity€8,856-€1,481▼ 83.3%€21,555▲ 1,356%€19,075▼ 11.5%€35,293▲ 85.0%
Total assets€12,003-€2,211▼ 81.6%€48,216▲ 2,081%€80,249▲ 66.4%€83,794▲ 4.4%
Debt€3,147-€730▼ 76.8%€26,661▲ 3,552%€61,175▲ 129%€48,502▼ 20.7%
Working capital€4,126-€71▼ 98.3%€20,146▲ 28,203%€19,075▼ 5.3%€949▼ 95.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €21,985 after a loss of €3,088 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €83,794
Fixed assets
€34,344
Current assets
€49,450
Equity and liabilities €83,794
Equity
€35,293 ▲ 85.0%
Debt
€48,502 ▼ 20.7%
Debt's share of the balance-sheet total falls from 76.2% to 57.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24,181▲
2023 · -€1,679
Cash flow
€18,414▲
2023 · -€1,071
Current ratio
1.02▼
2023 · 1.31
Debt to equity
1.37▼
2023 · 3.21
ROE
46.0%▲
2023 · -13.0%
ROA
19.4%▲
2023 · -3.1%
Interest coverage
247.91▲
2023 · -12.98
Debt ≤ 1 year
€48,502▼
2023 · €61,175
Income taxes
€5,669
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,868 | €3,321 | - | €1,410 | €2,196 | ▲ 55.8% |
| Other operating charges640/8 | - | €348 | €161 | €1,569 | €1,332 | ▼ 15.1% |
| Gross operating margin9900 | €7,029 | -€3,635 | €23,714 | -€110 | €25,513 | ▲ 23,355% |
| Operating profit (loss)9901 | -€3,113 | -€7,303 | €23,553 | -€3,088 | €21,985 | ▲ 812% |
| Financial income75/76B | - | - | - | €737 | - | - |
| Recurring financial income75 | €20 | - | - | €737 | - | - |
| Financial charges65/66B | - | €72 | €54 | €129 | €98 | ▼ 24.6% |
| Recurring financial charges65 | €450 | €72 | €54 | €129 | €98 | ▼ 24.6% |
| Profit (loss) for the period before taxes9903 | -€3,544 | -€7,375 | €23,500 | -€2,481 | €21,887 | ▲ 982% |
| Income taxes67/77 | - | - | €3,425 | - | €5,669 | - |
| Profit (loss) for the period9904 | -€3,544 | -€7,375 | €20,075 | -€2,481 | €16,218 | ▲ 754% |
| Profit (loss) for the period to be appropriated9905 | -€3,544 | -€7,375 | €20,075 | -€2,481 | €16,218 | ▲ 754% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12,003 | €2,211 | €48,216 | €80,249 | €83,794 | ▲ 4.4% |
| Fixed assets21/28 | €4,731 | €1,410 | €1,410 | - | €34,344 | - |
| Tangible fixed assets22/27 | €4,731 | €1,410 | €1,410 | - | €34,344 | - |
| Furniture and vehicles24 | - | €1,410 | €1,410 | - | €34,344 | - |
| Current assets29/58 | €7,272 | €801 | €46,806 | €80,249 | €49,450 | ▼ 38.4% |
| Amounts receivable within one year40/41 | €5,866 | €694 | €30,015 | €74,863 | €10,932 | ▼ 85.4% |
| Trade receivables40 | - | - | €26,204 | €47,344 | €2,475 | ▼ 94.8% |
| Other amounts receivable41 | - | €694 | €3,811 | €27,519 | €8,457 | ▼ 69.3% |
| Cash at bank and in hand54/58 | €1,120 | €107 | €16,791 | €4,943 | €36,742 | ▲ 643% |
| Deferred charges and accrued income490/1 | - | - | - | €443 | €1,777 | ▲ 301% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12,003 | €2,211 | €48,216 | €80,249 | €83,794 | ▲ 4.4% |
| Equity10/15 | €8,856 | €1,481 | €21,555 | €19,075 | €35,293 | ▲ 85.0% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | - | €12,400 | €12,400 | - | - | - |
| Other1109/19 | - | €12,400 | €12,400 | - | - | - |
| Profit (loss) carried forward14 | -€3,544 | -€10,919 | €9,155 | €6,675 | €22,893 | ▲ 243% |
| Amounts payable17/49 | €3,147 | €730 | €26,661 | €61,175 | €48,502 | ▼ 20.7% |
| Amounts payable within one year42/48 | €3,147 | €730 | €26,661 | €61,175 | €48,502 | ▼ 20.7% |
| Trade debts44 | €2,106 | €161 | €21,537 | €25,950 | €32,686 | ▲ 26.0% |
| Suppliers440/4 | - | €161 | €21,537 | €25,950 | €32,686 | ▲ 26.0% |
| Advances received on contracts in progress46 | - | - | - | €31,800 | - | - |
| Taxes, remuneration and social security45 | - | - | €5,124 | €3,425 | €5,658 | ▲ 65.2% |
| Taxes450/3 | - | - | €5,124 | €3,425 | €5,658 | ▲ 65.2% |
| Other amounts payable47/48 | - | €569 | - | - | €10,158 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,544 | -€7,375 | €20,075 | -€2,481 | €16,218 | ▲ 754% |
| + Depreciation and write-downs630 | €4,868 | €3,321 | - | €1,410 | €2,196 | ▲ 55.8% |
| Operating cash flow (approximation) | €1,325 | -€4,054 | €20,075 | -€1,071 | €18,414 | ▲ 1,819% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | -€1,014 | €16,684 | -€11,848 | €31,799 | ▲ 368% |
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
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €16,218
Net result €16,218 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
06-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €20,075
Net result €20,075 after 2 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€7,375
Net result drops to -€7,375, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · 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, Steenokkerzeel · 1 establishment unit since 2019
Ground area
2,895 m²
Building footprint
258 m²
Volume, LiDAR
821 m³
2 parcels, Flanders, Wallonia · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
CODEBAT CONSTRUCTION
since 20192.294.152.542
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 85045A0313/00F006 | Wallonia | 1,588 m² | 1 · 106 m² | 9.7 m · 3 fl. |
| 23081A0007/00F002 | Flanders | 1,307 m² | 1 · 152 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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VLAMINCK KURT ALGEMENE AANNEMINGEN
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FWK STORE
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 12,674 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
Founded05-03-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43350Other building finishing work
Scores and ratios are computed by Checked and are not a credit decision.