From the official registers: KBO 13 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
Codeco has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €215,889 and a net result of €54,168. Equity is growing by about 45% per year across the filed financial years. Its solvency ranks better than 40% of 39,242 sector peers (NACE 70, financial year 2025). The company has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Official details
KBO- Status
- Active since 24-05-2012 Normal situation
- Legal form
- Private limited company
- Registered office
- Oude Schrieksebaan 14, 2820 Bonheiden
- Activity
- Business and other management consultancy NACE 70200and 2 others
- Establishment unit
- 2.210.307.623 2820 Bonheiden, since 30-05-2012
- Financial year end
- 31 December
- Peppol
- Reachable
How it is doing
Holding: outside the score modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Gross margin
- €43,330
- ▲ 1.1%
- Turnover
- ≈ €130,000
- estimated
- Profit
- €54,168
- ▲ 7.0%
- Equity
- €215,889
- ▲ 33.5%
- Total assets
- €489,751
- ▲ 9.8%
- Staff
- ≈ 0 FTE
- estimated
2025 accounts 108 days early
Filed on 14-04-2026PDF
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
Bankruptcy probability, 12 months
This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
1 signal.
neutral
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 14-04-2026, 108 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
108 days early
2024
41 days early
2023
33 days early
2022
35 days early
2021
38 days early
2020
53 days early
2019
46 days early
← 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 51 days before the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials · financial year 2025, micro format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 14-04-2026
- Format
- micro format
- Reference
- 2026-00079033
Turnover
≈ €130,000
Estimated: probably between €73,000 and €170,000
Total assets
€489,751▲ 9.8%
2024 · €446,097
Net result
€54,168▲ 7.0%
2024 · €50,643
Working capital
-€35,797▲ 71.0%
2024 · -€123,288
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 0% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€39,668
2025
Net result€54,168
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€489,751
2025
Equity€215,889
2025
Debt€273,862
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€35,797
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)11.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency44.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.56
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€4,974-€12,346▲ 148%€18,559▲ 50.3%€43,102▲ 132%€35,290▼ 18.1%€21,971▼ 37.7%€39,825▲ 81.3%€39,668▼ 0.4%
Net result€1,723-€2,533▲ 47.0%€12,081within the sector's middle half▲ 377%€25,515within the sector's middle half▲ 111%€55,938within the sector's middle half▲ 119%€8,417within the sector's middle half▼ 85.0%€50,643within the sector's middle half▲ 502%€54,168within the sector's middle half▲ 7.0%
Equity-€4,663--€3,273▲ 29.8%€8,808below the sector's middle half€46,723within the sector's middle half▲ 430%€102,661within the sector's middle half▲ 120%€111,078within the sector's middle half▲ 8.2%€161,720within the sector's middle half▲ 45.6%€215,889within the sector's middle half▲ 33.5%
Total assets€463,787-€460,737▼ 0.7%€451,794within the sector's middle half▼ 1.9%€450,548within the sector's middle half▼ 0.3%€459,942within the sector's middle half▲ 2.1%€447,800within the sector's middle half▼ 2.6%€446,097within the sector's middle half▼ 0.4%€489,751above the sector's middle half▲ 9.8%
Debt€468,450-€464,010▼ 0.9%€442,986▼ 4.5%€403,825▼ 8.8%€357,282▼ 11.5%€336,722▼ 5.8%€284,376▼ 15.5%€273,862▼ 3.7%
Working capital-€166,600--€189,505▼ 13.7%-€196,376below the sector's middle half▼ 3.6%-€289,912below the sector's middle half▼ 47.6%-€273,483below the sector's middle half▲ 5.7%-€125,178below the sector's middle half▲ 54.2%-€123,288below the sector's middle half▲ 1.5%-€35,797below the sector's middle half▲ 71.0%
Solvency-1.0%--0.7%▲ 0.3pp1.9%below the sector's middle half▲ 2.7pp10.4%below the sector's middle half▲ 8.4pp22.3%below the sector's middle half▲ 12.0pp24.8%below the sector's middle half▲ 2.5pp36.3%within the sector's middle half▲ 11.4pp44.1%within the sector's middle half▲ 7.8pp
Current ratio0.12-0.07▼ 0.050.04below the sector's middle half▼ 0.040.02below the sector's middle half▼ 0.020.05below the sector's middle half▲ 0.030.02below the sector's middle half▼ 0.030.02below the sector's middle half=0.56below the sector's middle half▲ 0.53
Return on assets (ROA)0.4%-0.5%▲ 0.2pp2.7%within the sector's middle half▲ 2.1pp5.7%within the sector's middle half▲ 3.0pp12.2%within the sector's middle half▲ 6.5pp1.9%within the sector's middle half▼ 10.3pp11.4%within the sector's middle half▲ 9.5pp11.1%within the sector's middle half▼ 0.3pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €489,751
Fixed assets
€444,847 ▲ 0.4%
Current assets
€44,904 ▲ 15×
Equity and liabilities €489,751
Equity
€215,889 ▲ 33.5%
Debt
€273,862 ▼ 3.7%
Debt's share of the balance-sheet total falls from 63.7% to 55.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
25.1%▼
2024 · 31.3%
Debt ≤ 1 year
€80,702▼
2024 · €126,269
Debt > 1 year
€193,161▲
2024 · €158,107
Income taxes
€14,643▲
2024 · €13,144
Staff costs
€960
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | - | €960 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,337 | €2,057 | €1,368 | €1,707 | €2,231 | €2,420 | €1,154 | €1,449 | ▲ 25.5% |
| Other operating charges640/8 | - | - | - | €1,535 | €1,625 | €1,726 | €1,694 | €1,254 | ▼ 26.0% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €184 | €0 | ▼ 100% |
| Gross operating margin9900 | €8,318 | €24,736 | €21,191 | €46,345 | €39,145 | €26,118 | €42,858 | €43,330 | ▲ 1.1% |
| Operating profit (loss)9901 | €4,974 | €12,346 | €18,559 | €43,102 | €35,290 | €21,971 | €39,825 | €39,668 | ▼ 0.4% |
| Financial income75/76B | - | - | - | €0 | €40,000 | €6 | €36,000 | €40,000 | ▲ 11.1% |
| Recurring financial income75 | - | €0 | €3,000 | €0 | €40,000 | €6 | €36,000 | €40,000 | ▲ 11.1% |
| Financial charges65/66B | - | - | - | €5,361 | €5,151 | €8,246 | €12,038 | €10,857 | ▼ 9.8% |
| Recurring financial charges65 | €3,251 | €6,647 | €5,171 | €5,361 | €5,151 | €8,246 | €12,038 | €10,857 | ▼ 9.8% |
| Profit (loss) for the period before taxes9903 | €1,723 | €5,699 | €16,388 | €37,741 | €70,139 | €13,731 | €63,787 | €68,811 | ▲ 7.9% |
| Income taxes67/77 | - | €3,166 | €4,307 | €12,226 | €14,201 | €5,314 | €13,144 | €14,643 | ▲ 11.4% |
| Profit (loss) for the period9904 | €1,723 | €2,533 | €12,081 | €25,515 | €55,938 | €8,417 | €50,643 | €54,168 | ▲ 7.0% |
| Profit (loss) for the period to be appropriated9905 | €1,723 | €303 | €12,081 | €25,515 | €55,938 | €8,417 | €50,643 | €54,168 | ▲ 7.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €463,787 | €460,737 | €451,794 | €450,548 | €459,942 | €447,800 | €446,097 | €489,751 | ▲ 9.8% |
| Fixed assets21/28 | €440,689 | €445,472 | €444,104 | €444,886 | €445,063 | €444,953 | €443,115 | €444,847 | ▲ 0.4% |
| Tangible fixed assets22/27 | €689 | €5,472 | €4,104 | €4,886 | €5,063 | €4,953 | €3,115 | €4,847 | ▲ 55.6% |
| Plant, machinery and equipment23 | - | - | - | €3,250 | €1,860 | €2,708 | €2,035 | €4,248 | ▲ 109% |
| Furniture and vehicles24 | - | - | - | €1,635 | €3,203 | €2,246 | €1,080 | €598 | ▼ 44.6% |
| Financial fixed assets28 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | = |
| Current assets29/58 | €23,098 | €15,265 | €7,690 | €5,662 | €14,879 | €2,846 | €2,981 | €44,904 | ▲ 15× |
| Amounts receivable within one year40/41 | €21,427 | €13,818 | €477 | €397 | €0 | - | - | €21,552 | - |
| Trade receivables40 | - | - | - | - | - | - | - | €19,166 | - |
| Other amounts receivable41 | - | - | - | €397 | €0 | - | - | €2,385 | - |
| Cash at bank and in hand54/58 | €12 | €1,267 | €7,213 | €5,265 | €14,879 | €2,846 | €2,981 | €23,353 | ▲ 683% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €463,787 | €460,737 | €451,794 | €450,548 | €459,942 | €447,800 | €446,097 | €489,751 | ▲ 9.8% |
| Equity10/15 | -€4,663 | -€3,273 | €8,808 | €46,723 | €102,661 | €111,078 | €161,720 | €215,889 | ▲ 33.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €548 | €2,778 | €2,778 | €28,123 | €84,061 | €92,478 | €143,120 | €197,289 | ▲ 37.8% |
| Non-distributable reserves130/1 | - | - | - | €548 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €548 | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €2,230 | €2,230 | €2,230 | €2,230 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €25,345 | €81,831 | €90,248 | €140,890 | €197,289 | ▲ 40.0% |
| Profit (loss) carried forward14 | -€11,411 | -€12,251 | -€170 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €468,450 | €464,010 | €442,986 | €403,825 | €357,282 | €336,722 | €284,376 | €273,862 | ▼ 3.7% |
| Amounts payable after more than one year17 | €278,752 | €258,935 | €238,920 | €108,251 | €68,919 | €208,698 | €158,107 | €193,161 | ▲ 22.2% |
| Financial debts170/4 | - | - | - | €108,251 | €68,919 | €208,698 | €158,107 | €193,161 | ▲ 22.2% |
| Amounts payable within one year42/48 | €189,698 | €204,769 | €204,066 | €295,574 | €288,362 | €128,024 | €126,269 | €80,702 | ▼ 36.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €40,573 | €39,332 | €48,919 | €50,591 | €62,236 | ▲ 23.0% |
| Financial debts43 | - | - | - | €4,563 | €4,275 | €3,390 | €3,041 | €1,862 | ▼ 38.8% |
| Credit institutions430/8 | - | - | - | - | - | €3,390 | €3,041 | €1,862 | ▼ 38.8% |
| Other loans439 | - | - | - | €4,563 | €4,275 | €0 | - | - | - |
| Trade debts44 | €1,907 | €1,176 | €641 | €1,339 | €1,414 | €937 | €724 | €3,831 | ▲ 429% |
| Suppliers440/4 | - | - | - | €1,339 | €1,414 | €937 | €724 | €3,831 | ▲ 429% |
| Taxes, remuneration and social security45 | - | - | - | €4,841 | €15,142 | €4,289 | €7,829 | €12,773 | ▲ 63.1% |
| Taxes450/3 | - | - | - | €4,841 | €13,114 | €2,289 | €7,829 | €12,773 | ▲ 63.1% |
| Remuneration and social security454/9 | - | - | - | €0 | €2,028 | €2,000 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €244,259 | €228,199 | €70,490 | €64,084 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,723 | €2,533 | €12,081 | €25,515 | €55,938 | €8,417 | €50,643 | €54,168 | ▲ 7.0% |
| + Depreciation and write-downs630 | €1,337 | €2,057 | €1,368 | €1,707 | €2,231 | €2,420 | €1,154 | €1,449 | ▲ 25.5% |
| Operating cash flow (approximation) | €3,060 | €4,589 | €13,449 | €27,222 | €58,169 | €10,836 | €51,797 | €55,617 | ▲ 7.4% |
| Investment in fixed assets (approximation) | - | -€6,840 | €0 | -€2,489 | -€2,408 | -€2,310 | €684 | -€3,180 | - |
| Change in cash | - | €1,254 | €5,946 | -€1,947 | €9,614 | -€12,033 | €135 | €20,371 | ▲ 151× |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-04-2026 | 2026-00079033 | |
| 31-12-2024 | micro format | 20-06-2025 | 2025-00158144 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00175191 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00162665 | |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20157641 | |
| 31-12-2020 | micro format | 08-06-2021 | 2021-18900117 | |
| 31-12-2019 | micro format | 15-06-2020 | 2020-17300359 | |
| 31-12-2018 | micro format | 11-06-2019 | 2019-17800436 | |
| 31-12-2017 | micro format | 06-06-2018 | 2018-16700058 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-19500466 |
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Of the 82,504 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,656. 40,678 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director
Deprez Christophe
Current
Mandate history
1 person, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Deprez Christophe |
|
Owners and capital
Owners
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
40%
Connections & network
1 current directorThe board mandates are listed below; here you explore them as a network.
This company
Company
Director
Shareholding
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Board mandates elsewhere
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
14-04
financial year 2025 · micro format
2025
31-12
Financial
Equity above €200,000equity €215,889 ▲33.5%
A profit in every financial year since 2018 builds equity to €215,889.
20-06
financial year 2024 · micro format
07-01
Permanent representative
07-01
Permanent representative
2024
31-12
Financial
Equity above €150,000equity €161,720 ▲45.6%
A profit in every financial year since 2018 builds equity to €161,720.
28-06
financial year 2023 · micro format
2023
2022
31-12
Financial
Highest result from 2018 to 2025net €55,938 ▲119%
Net result €55,938, the highest in the series.
31-12
Financial
Equity above €100,000equity €102,661 ▲120%
A profit in every financial year since 2018 builds equity to €102,661.
23-06
financial year 2021 · micro format
Show earlier events
2021
08-06
financial year 2020 · micro format
2020
15-06
financial year 2019 · micro format
2019
11-06
financial year 2018 · micro format
2018
06-06
financial year 2017 · micro format
2017
19-06
financial year 2016 · micro format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordName
Codeco in Dutch
Enterprise number
0846.206.422
Legal form
Private limited company
Status
Active, normale toestand
Founded
24-05-2012
Type
Legal entity
Where it is based
Registered office
Oude Schrieksebaan 14, 2820 Bonheiden, Belgium
Establishments
1 establishment unit since 2012
What it does
NACEBEL 202570200
Business and other management consultancy main activity
64210
Activities of holding companies
68110
Buying and selling of own real estate
Invoicing and payment
VAT number
BE 0846.206.422
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
Registered office and establishments
1 establishment unit
CODECO
since 2012unit no. 2.210.307.623
Buildings and parcels at the address
Ground area
1,998 m²
Building footprint
259 m²
Building volume
1,410 m³
Parcel 12005C0108/02H000, Flanders · tallest building 7.9 m.
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12005C0108/02H000 | Flanders | 1,998 m² | 1 · 259 m² | 7.9 m · 2 |