CODECREA
ActiveSummary
CODECREA has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68k and a net result of €-7k. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 42% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▼-65
Solvency72▼-20
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 2.09 against 2.83 in 2024; short-term debt: 34% and cash: 6.4% of total assets), but 53.5% of the assets are financed with debt.
Credit check for your own amount and term
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 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
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 2025Solvency, return and age of the figures
Solvency
46.5%
Return on assets
-5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
2 d early
2024
37 d early
2023
33 d early
2022
31 d early
2021
15 d early
2020
19 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€68k▼ 50.7%
2024 · €138k
2020: €117k
2021: €111k▼ -5.1% vs 2020
2022: €124k▲ +11.6% vs 2021
2023: €123k▼ -1.3% vs 2022
2024: €138k▲ +12.5% vs 2023highest in 6 years
2025: €68k▼ -50.7% vs 2024lowest in 6 years
2020 → 2025
Total assets
€146k▼ 29.0%
2024 · €206k
2020: €178k
2021: €167k▼ -6.2% vs 2020
2022: €178k▲ +6.5% vs 2021
2023: €186k▲ +4.9% vs 2022
2024: €206k▲ +10.6% vs 2023highest in 6 years
2025: €146k▼ -29.0% vs 2024lowest in 6 years
2020 → 2025
Net result
€-7k
2024 · €15k
2020: €26khighest in 6 years
2021: €-6k▼ -123% vs 2020
2022: €13k▲ +315% vs 2021
2023: €-2k▼ -112% vs 2022
2024: €15k▲ +1057% vs 2023
2025: €-7k▼ -148% vs 2024lowest in 6 years
2020 → 2025
Working capital
€54k▼ 56.6%
2024 · €124k
2020: €113k
2021: €112k▼ -1.2% vs 2020
2022: €115k▲ +3.1% vs 2021
2023: €115k▼ -0.8% vs 2022
2024: €124k▲ +8.6% vs 2023highest in 6 years
2025: €54k▼ -56.6% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€111k-€124k▲ 11.6%€123k▼ 1.3%€138k▲ 12.5%€68k▼ 50.7%
2021: €111k
2022: €124k▲ +11.6% vs 2021
2023: €123k▼ -1.3% vs 2022
2024: €138k▲ +12.5% vs 2023highest in 5 years
2025: €68k▼ -50.7% vs 2024lowest in 5 years
Operating result€-5k-€21k€-3k€19k€-8k
2021: €-5k
2022: €21k▲ +557% vs 2021highest in 5 years
2023: €-3k▼ -116% vs 2022
2024: €19k▲ +682% vs 2023
2025: €-8k▼ -140% vs 2024lowest in 5 years
Net result€-6k-€13k€-2k€15k€-7k
2021: €-6k
2022: €13k▲ +315% vs 2021
2023: €-2k▼ -112% vs 2022
2024: €15k▲ +1057% vs 2023highest in 5 years
2025: €-7k▼ -148% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €8k after €19k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €146k
Fixed assets
€42k ▲ 210%
Current assets
€104k ▼ 46.0%
Equity and liabilities €146k
Equity
€68k ▼ 50.7%
Debt
€78k ▲ 15.1%
Debt's share of the balance-sheet total rises from 33.0% to 53.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-5k▼
2024 · €22k
Cash flow
€-5k▼
2024 · €17k
Current ratio
2.09▼
2024 · 2.83
Debt to equity
1.15▲
2024 · 0.49
ROE
-10.7%▼
2024 · 11.1%
ROA
-5.0%▼
2024 · 7.4%
Interest coverage
-2.16▼
2024 · 11.34
Debt ≤ 1 year
€50k▼
2024 · €68k
Debt > 1 year
€28k
Income taxes
€184▼
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€206k€146k▼
Fixed assets21/28€14k€42k▲
Tangible fixed assets22/27€3k€37k▲
Furniture and vehicles24€3k€1k▼
Leasing and similar rights25-€35k
Financial fixed assets28€11k€6k▼
Current assets29/58€192k€104k▼
Amounts receivable within one year40/41€151k€71k▼
Trade receivables40€59k€29k▼
Other amounts receivable41€92k€43k▼
Current investments50/53€6k€8k▲
Cash at bank and in hand54/58€24k€9k▼
Deferred charges and accrued income490/1€11k€15k▲
Equity and liabilities
Total equity and liabilities10/49€206k€146k▼
Equity10/15€138k€68k▼
Contributions10/11€3k€3k=
Reserves13€136k€66k▼
Distributable reserves133€136k€66k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€68k€78k▲
Amounts payable after more than one year17-€28k
Financial debts170/4-€28k
Amounts payable within one year42/48€68k€50k▼
Current portion of amounts payable after more than one year42-€7k
Financial debts43€12k€9k▼
Credit institutions430/8€12k€9k▼
Trade debts44€32k€15k▼
Suppliers440/4€32k€15k▼
Taxes, remuneration and social security45€24k€17k▼
Taxes450/3€24k€12k▼
Remuneration and social security454/9€0€4k▲
Other amounts payable47/48-€2k
Income statement
Code20242025
Non-recurring operating income76A-€750
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▲
Other operating charges640/8€3k€4k▲
Gross operating margin9900€25k€-1k▼
Operating profit (loss)9901€19k€-8k▼
Financial income75/76B€5k€3k▼
Recurring financial income75€5k€3k▼
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€23k€-7k▼
Income taxes67/77€7k€184▼
Profit (loss) for the period9904€15k€-7k▼
Profit (loss) for the period to be appropriated9905€15k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€15k€-7k▼
Transfer from equity791/2€0€70k▲
Transfer to equity691/2€15k€0▼
To other reserves6921€15k€0▼
Profit to be distributed694/7-€63k
Return on contributions (dividend)694-€63k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €750 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €2k | €2k | €2k | ▲ 3.3% |
| Other operating charges640/8 | €1k | €4k | €1k | €3k | €4k | ▲ 40.1% |
| Gross operating margin9900 | €-1k | €27k | €118 | €25k | €-1k | ▼ 105% |
| Operating profit (loss)9901 | €-5k | €21k | €-3k | €19k | €-8k | ▼ 140% |
| Financial income75/76B | €14 | €25 | €4k | €5k | €3k | ▼ 37.2% |
| Recurring financial income75 | €14 | €25 | €4k | €5k | €3k | ▼ 37.2% |
| Financial charges65/66B | €1k | €3k | €861 | €2k | €3k | ▲ 33.4% |
| Recurring financial charges65 | €1k | €3k | €861 | €2k | €3k | ▲ 33.4% |
| Profit (loss) for the period before taxes9903 | €-6k | €19k | €-672 | €23k | €-7k | ▼ 132% |
| Income taxes67/77 | €109 | €6k | €929 | €7k | €184 | ▼ 97.4% |
| Profit (loss) for the period9904 | €-6k | €13k | €-2k | €15k | €-7k | ▼ 148% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €13k | €-2k | €15k | €-7k | ▼ 148% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €167k | €178k | €186k | €206k | €146k | ▼ 29.0% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €3k | €10k | €8k | €14k | €42k | ▲ 210% |
| Tangible fixed assets22/27 | €3k | €5k | €3k | €3k | €37k | ▲ 1,270% |
| Furniture and vehicles24 | €3k | €5k | €3k | €3k | €1k | ▼ 59.3% |
| Leasing and similar rights25 | - | - | - | - | €35k | - |
| Financial fixed assets28 | - | €5k | €5k | €11k | €6k | ▼ 46.0% |
| Current assets29/58 | €164k | €167k | €178k | €192k | €104k | ▼ 46.0% |
| Amounts receivable within one year40/41 | €132k | €118k | €152k | €151k | €71k | ▼ 52.8% |
| Trade receivables40 | €82k | €74k | €76k | €59k | €29k | ▼ 51.0% |
| Other amounts receivable41 | €51k | €44k | €76k | €92k | €43k | ▼ 54.0% |
| Current investments50/53 | €8k | €11k | €93 | €6k | €8k | ▲ 25.2% |
| Cash at bank and in hand54/58 | €9k | €25k | €18k | €24k | €9k | ▼ 60.7% |
| Deferred charges and accrued income490/1 | €15k | €14k | €8k | €11k | €15k | ▲ 36.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €167k | €178k | €186k | €206k | €146k | ▼ 29.0% |
| Equity10/15 | €111k | €124k | €123k | €138k | €68k | ▼ 50.7% |
| Contributions10/11 | €3k | €3k | €3k | €3k | €3k | = |
| Reserves13 | €109k | €122k | €120k | €136k | €66k | ▼ 51.7% |
| Non-distributable reserves130/1 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Distributable reserves133 | €109k | €122k | €120k | €136k | €66k | ▼ 51.7% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €55k | €53k | €64k | €68k | €78k | ▲ 15.1% |
| Amounts payable after more than one year17 | - | - | - | - | €28k | - |
| Financial debts170/4 | - | - | - | - | €28k | - |
| Amounts payable within one year42/48 | €52k | €52k | €64k | €68k | €50k | ▼ 26.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7k | - |
| Financial debts43 | €173 | €578 | €518 | €12k | €9k | ▼ 25.0% |
| Credit institutions430/8 | €173 | €578 | €518 | €12k | €9k | ▼ 25.0% |
| Trade debts44 | €26k | €29k | €18k | €32k | €15k | ▼ 52.6% |
| Suppliers440/4 | €26k | €29k | €18k | €32k | €15k | ▼ 52.6% |
| Taxes, remuneration and social security45 | €26k | €22k | €45k | €24k | €17k | ▼ 29.6% |
| Taxes450/3 | €26k | €22k | €45k | €24k | €12k | ▼ 47.3% |
| Remuneration and social security454/9 | - | - | €480 | €0 | €4k | - |
| Other amounts payable47/48 | - | - | - | - | €2k | - |
| Accrued charges and deferred income492/3 | €3k | €2k | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €13k | €-2k | €15k | €-7k | ▼ 148% |
| + Depreciation and write-downs630 | €2k | €2k | €2k | €2k | €2k | ▲ 3.3% |
| Operating cash flow (approximation) | €-4k | €15k | €612 | €17k | €-5k | ▼ 129% |
| Investment in fixed assets (approximation) | - | €-9k | €0 | €-8k | €-31k | ▼ 310% |
| Change in cash | - | €16k | €-6k | €5k | €-14k | ▼ 369% |
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
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series.
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
28-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
15-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Destelbergen · 1 establishment unit since 2014
Ground area
1,563 m²
Building footprint
188 m²
Volume, LiDAR
1,014 m³
Parcel 44028B0481/00L004, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Codecrea
since 20142.227.580.353
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44028B0481/00L004 | Flanders | 1,563 m² | 1 · 188 m² | 9.8 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,560 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
Founded24-01-2014
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Scores and ratios are computed by Checked and are not a credit decision.