Active BE 0769.643.530Limited partnership

CODEGCO

Maalse Steenweg 465 ·8310 Brugge, Belgium· 5 yrs active

Sector: Activities of head offices (70100)

Conclusion Checked

CODEGCO has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €172k and a net result of €59k. Its solvency ranks better than 28% of 30893 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 2 annual accounts.

Key figures

Equity	€172k
Net result	€59k
Better than sector	28%
Active	5 yrs

Financial profile 5 of 5 axes measured · computed by Checked

61 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 50

Profitability 100

Solvency 31

Growth 32

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

0.1% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

50 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€9k

estimate, not credit advice

Score history

100 2024

50 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.40 (< 1.0) -10

Quick ratio Quick ratio 0.40 (< 0.6) -5

Profitability ROE 34% (≥ 10%) +10

Interest coverage Interest coverage 18.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview2 NBB filings

Annual accounts filed on 27-05-2026 with the NBB · fiscal year 2025 · micro schema

RevenueOperating resultNet result

Sector comparison

Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	27.4%	55.9%	better than 28% of 30893 sector peers
Net result	€59k	€27k	better than 71% of 30902 sector peers
Equity	€172k	€83k	better than 68% of 30919 sector peers
Gross operating margin	€115k	€54k	better than 76% of 30861 sector peers
Total assets	€627k	€186k	better than 81% of 30907 sector peers

Revenue

€135k

- 24-25

EBITDA

€112k

+17.6% 24-25

Net profit

€59k

-5.3% 24-25

Cash flow

€86k

+27.8% 24-25

Total assets

€627k

+71.9% 24-25

Equity

€172k

-6.2% 24-25

Working capital

€-100k

- 24-25

Income taxes

€20k

-20.6% 24-25

Dividends

€70k

- 24-25

Debt

€455k

+150.9% 24-25

Debt ≤ 1y

€167k

+291.4% 24-25

Debt > 1y

€288k

+107.8% 24-25

Current ratio

0.40

-77.3% 24-25

Quick ratio

0.40

-77.3% 24-25

Solvency

27.4%

-45.4% 24-25

Debt / equity

2.65

+167.6% 24-25

ROE

34.1%

+1.0% 24-25

ROA

9.3%

-44.9% 24-25

Net margin

45.8%

- 24-25

EBITDA margin

70.8%

- 24-25

Interest coverage

18.16

-47.8% 24-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024
Deposit	micro schema	micro schema
Revenue	-	€135k
EBITDA	€112k	€96k
Net profit	€59k	€62k
Cash flow	€86k	€67k
Staff costs	-	-
Income taxes	€20k	€26k
Dividends	€70k	-
Total assets	€627k	€365k
Equity	€172k	€183k
Debt	€455k	€181k
of which ≤ 1y	€167k	€43k
of which > 1y	€288k	€139k
Working capital	€-100k	€33k
Employees (FTE)	-	-

Ratios (computed)

	2025	2024
Current ratio	0.40	1.77
Quick ratio	0.40	1.77
Working capital ratio	-15.9%	9.0%
Solvency	27.4%	50.3%
Debt / equity	2.65	0.99
Long-term debt ratio	1.68	0.76
Interest coverage	18.16	34.78
Gross margin	-	63.8%
Net margin	-	45.8%
ROA	9.3%	17.0%
ROE	34.1%	33.7%
EBITDA margin	-	70.8%
Days sales outstanding	-	82d
Days payable outstanding	-	22d
Inventory turnover	-	-
Days inventory (DSI)	-	-

Balance-sheet composition 2025

Assets

Fixed assets €560k · 89.4% Current assets €67k · 10.7%

Equity & liabilities

Equity €172k · 27.4% Debt €455k · 72.6%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€627k	€365k
Fixed assets	21/28	€560k	€289k
Tangible fixed assets	22/27	€560k	€289k
Financial fixed assets	28	€397	€397
Current assets	29/58	€67k	€75k
Amounts receivable within one year	40/41	€32k	€32k
Cash & bank	54/58	€34k	€41k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€627k	€365k
Equity	10/15	€172k	€183k
Contributions / capital	10/11	€1k	€1k
Reserves	13	€148k	€148k
Accumulated profits (losses)	14	€23k	€34k
Amounts payable	17/49	€455k	€181k
Amounts payable after one year	17	€288k	€139k
Amounts payable within one year	42/48	€167k	€43k
Trade debts payable within one year	44	€4k	€3k
Income statement
Turnover	70	-	€135k
Gross operating margin	9900	€115k	€98k
Operating result	9901	€85k	€90k
Financial income	75	€1	-
Financial charges	65	€6k	€3k
Result before taxes	9903	€79k	€88k
Income taxes	67/77	€20k	€26k
Net result for the period	9904	€59k	€62k
Result to be appropriated	9905	€59k	€62k

Legal Structure

NACE primary	Activities of head offices(70100)
Legal form	Limited partnership(612)
Incorporation	14-06-2021
Status	Active
Postal code	8310

Establishment units 1 location

CODEGCO

Maalse Steenweg 465, 8310 BruggeActivities of head offices

since 20212.318.591.097

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
31433D0280/00C003	Flanders	496 m²	1 · 106 m²	8.9 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 2 events

All 2Filings 2

Next filing, fiscal year 2026, expected by 31-07-2027

2026

27-05

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

22-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 22 days late

NBB filing

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Activities of head offices70100Business and other management consultancy70200Activities of head offices; management consultancy activities70210Business consulting70220Public relations and communication consultancy73300Office administrative and support services82100Office administrative, office support and other business support activities82110

Names & trade names

Legal nameNL

CODEGCO

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