Turnover
≈ €52,000 estimated
The micro format states no turnover.
CODEL IMMO
Overview
Lifetime
3 annual accounts with figures on one time axispeak €62,640 (2024)
€31,819▼ 49.2%
lowest -€17,201 (2023)
-€16,352▼ €25,814
peak €82,261 (2024)
€65,909▼ 19.9%
€545,620▲ 1.1%
Board2 names since 2022
2 directorsCOMIJN Bjorn and 1 other
Documentsfilings and deeds
23-06-202638 days before the deadline
2025micro format
Gross margin from €62,640 to €31,819Loss of €16,352Equity from €82,261 to €65,909
Key points
from the 2025 annual accountsDebts
€545,620 89% of the balance sheet
Financial debts 82%Suppliers 0%Taxes and wages 0%Other 17%
Of this, €91,443 falls due within a year.
Position in the sector
-€16,352
Lower net result than 81% of companies in real estate. Sector median €5,995 · 17,190 companies.
Checked score
86
Excellent
Financially stronger than 31% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.0%
01-2025: 1.0%● unchanged vs 12-2024
02-2025: 1.0%● unchanged vs 01-2025
03-2025: 1.0%● unchanged vs 02-2025
04-2025: 1.0%● unchanged vs 03-2025
05-2025: 1.0%● unchanged vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.0%● unchanged vs 06-2025
08-2025: 0.9%▼ -0.1 percentage points vs 07-2025
09-2025: 1.0%▲ +0.1 percentage points vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 0.9%▼ -0.1 percentage points vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 0.8%▼ -0.1 percentage points vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 1.0%▲ +0.2 percentage points vs 07-2026
09-2026: 1.2%▲ +0.2 percentage points vs 08-2026highest value
10-2026: 0.2%▼ -1.0 percentage point vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Equity €65,909 (10.8% of total assets)
lowers risk
Size: total assets €611,529
Sector: Real estate activities (NACE 68)
Figures for financial year 2025 (filed on 23-06-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 32% of them on solvency, 46% on liquidity, 24% on profitability and 21% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 440 companies had the same profile as CODEL IMMO has now. Each dot is one company, two years later.
95.5%
were still trading
3.0%
stopped another way
1.6%
went bankrupt
The bankruptcy probability of CODEL IMMO itself is lower: 0.2% within 12 months. It rests on far more data about CODEL IMMO than the profile alone.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 440 companies, not a prediction for CODEL IMMO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.14 (0.11 in 2024), below 1. Short-term debt is 15% and cash 1.7% of total assets. 89.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 23-06-2026, 38 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
38 days early
2024
23 days early
2023
9 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 17 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 8 July (3 of the last 3 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- COMIJN Bjorn 51 sharesdeed of 27-07-2022
- DELCOMINETTE Dorothée 49 sharesdeed of 27-07-2022
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0788865762
Incorporation
Founding capital of €90,000, 100 shares · Founders: COMIJN Bjorn and DELCOMINETTE Dorothée · Appointments: COMIJN Bjorn (director) and DELCOMINETTE Dorothée (director) · published on 27-07-2022 · Gazette deed
First establishment
Rue de la Science 20, Villers-le-Bouillet
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CODEL IMMO Verlaine | €611,529 | €31,819 | 10.8% | - |
| DL IMMO Verlaine | €726,155 | €26,841 | 5.8% | - |
| THIPAU Welkenraedt | €508,602 | €30,197 | 22.1% | - |
| IMMOGD Mont-de-l'Enclus | €567,058 | €30,564 | -1.8% | - |
| NYX PROPERTIES Brussels | €545,114 | €34,844 | -17.1% | - |
| MB VISION Asse | €518,875 | €34,426 | -10.2% | - |
| Immo Monkey Middelkerke | €507,018 | €30,203 | 30.2% | - |
These companies have the same main activity as CODEL IMMO: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €507,000 and €726,000, founded in 2022.
Official details
Source: KBO- Status
- Active since 25-07-2022Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
- Establishment unit
- 2.337.540.9394530 Villers-le-Bouillet, since 25-07-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 19-02-2026
Annual accounts 2025
- €31,819▼ 49.2%
- €16,352
- €65,909▼ 19.9%
- €611,529▼ 1.7%
- Filing
- Filed on 23-06-2026, 38 days before the end of the filing period
Insights on CODEL IMMO
CODEL IMMO files the micro format. That format states no turnover. The gross margin fell from €59,046 in 2023 to €31,819 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 23-06-2026, 38 days before the deadline€31,819
▼ 49.2%
€3,238
▼ 89.3%
-€16,352
▼ €25,814
-€78,699
▼ €27,961
10.8%
▼ 2.4 percentage points
0.14
▲ 0.03
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €52,000. Estimated: probably between €39,000 and €75,000.
Balance sheet
balance sheet total €611,529 on 31-12-2025What the company ownsHow it is paid for
in euro
Position in the sector
10.8%
Higher than 33% of 17,199 companies in 2025.
0.14
Higher than 14% of 16,496 companies in 2025.
-2.7%
Higher than 23% of 16,875 companies in 2025.
CODEL IMMO
Middle half of the sector
80% of the sector
Micro accounts in real estate (NACE 68)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
611,529 | 621,887 | 631,574 | |
20 |
0 | - | - | |
21/28 |
598,786 | 615,855 | 631,574 | |
22/27 |
598,786 | 615,855 | 631,574 | |
22 |
598,169 | 614,905 | 631,574 | |
23 |
617 | 950 | - | |
29/58 |
12,744 | 6,032 | - | |
40/41 |
1,245 | 6,032 | - | |
40 |
1,245 | 6,032 | - | |
54/58 |
10,369 | - | - | |
490/1 |
1,130 | - | - | |
| Balance sheet: equity and liabilities | ||||
10/49 |
611,529 | 621,887 | 631,574 | |
10/15 |
65,909 | 82,261 | 72,799 | |
10/11 |
90,000 | 90,000 | 90,000 | |
14 |
-24,091 | -7,739 | -17,201 | |
17/49 |
545,620 | 539,626 | 558,775 | |
17 |
448,011 | 480,790 | 512,390 | |
170/4 |
448,011 | 480,790 | 512,390 | |
42/48 |
91,443 | 56,770 | 44,322 | |
42 |
48,264 | 31,600 | 30,409 | |
43 |
- | 15,998 | 11,141 | |
430/8 |
- | 15,998 | 11,141 | |
44 |
220 | 5,134 | - | |
440/4 |
220 | 5,134 | - | |
45 |
2,185 | 4,039 | 2,772 | |
450/3 |
2,185 | 4,039 | 2,772 | |
47/48 |
40,774 | - | - | |
492/3 |
6,166 | 2,066 | 2,064 | |
| Income statement | ||||
9900 |
31,819 | 62,640 | 59,046 | |
630 |
22,413 | 21,419 | 43,037 | |
631/4 |
- | 5,000 | - | |
640/8 |
6,169 | 6,047 | 7,162 | |
9901 |
3,238 | 30,175 | 8,847 | |
75/76B |
0 | - | - | |
75 |
0 | - | - | |
65/66B |
19,590 | 20,713 | 26,049 | |
65 |
19,590 | 20,713 | 26,049 | |
9903 |
-16,352 | 9,462 | -17,201 | |
9904 |
-16,352 | 9,462 | -17,201 | |
9905 |
-16,352 | 9,462 | -17,201 | |
| Appropriation of the result | ||||
9906 |
-24,091 | -7,739 | -17,201 | |
14P |
-7,739 | -17,201 | - | |
| Document | ||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 23-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 25,651 | 51,594 | 51,884 | ||
| 6,061 | 30,881 | 25,835 | ||
| 5,343 | 5,700 | 673,562 | ||
| -78,699 | -50,738 | - | ||
| 10.8% | 13.2% | 11.5% | ||
| 0.14 | 0.11 | - | ||
| 8.28 | 6.56 | 7.68 | ||
| -24.8% | 11.5% | -23.6% | ||
| -2.7% | 1.5% | -2.7% | ||
| 1.31 | 2.49 | 1.99 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €5,343 | €5,700 | €673,562 |
| €22,413 | €21,419 | €43,037 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on CODEL IMMO
The operating result for 2025 is 89% lower than in 2024 and the lowest since 2023.
Debt's share of the balance-sheet total rises from 86.8% to 89.2%. Equity is lower and debt is higher.
Board & ownership
Board
2 directors, since incorporationDirector (not named in the articles)
since 25-07-2022
term without a fixed end
listed in the 2025 annual accounts, filed on 23-06-2026
Director (not named in the articles)
since 25-07-2022
term without a fixed end
listed in the 2025 annual accounts, filed on 23-06-2026
Mandates through the years
2 names, the dashed line is todayCOMIJN Bjorn
Director (not named in the articles)
Director (not named in the articles)
DELCOMINETTE Dorothée
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- COMIJN Bjorn
- Director (not named in the articles), from 25-07-2022 to date
- DELCOMINETTE Dorothée
- Director (not named in the articles), from 25-07-2022 to date
Control
Founders
This company
CODEL IMMO
Equity €65,909
Loss €16,352 in 2025
Capital
- Contribution
- €90,000
- Shares
- 100
- Contribution per share
- €900
- Equity per share
- €659 in 2025
- Source
- deed of 27-07-2022
Articles of association
deed of 27-07-2022 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié à charge du cédant et moitié à charge du ou des acquéreurs proportionnellement au nombre d'actions acquises, toutes cessions entre…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Tuesday of June at 19:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 27-07-2022 ↗
- COMIJN Bjorn 51 shares (51%) · €45,900
- DELCOMINETTE Dorothée 49 shares (49%) · €44,100
Network & group
No group
CODEL IMMO has no parent and no holdings in its annual accounts.
Earlier ties
| BJORN'S via DELCOMINETTE Dorothée, no longer at BJORN'S · Director · deed of 08-07-2019 founded in 2014 |
total assets €179,342 (2025) |
Connections & network
The network starts from the earlier ties.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
7 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 38 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0788865762
2025
Annual accounts 2024 filed PDFmicro format · 23 days before the deadline
2024
Back to profit net €9,462 The net result is €9,462, after one loss-making year.
Annual accounts 2023 filed PDFmicro format · 9 days late
2022
IncorporationFounding capital of €90,000, 100 shares · Founders: COMIJN Bjorn and DELCOMINETTE Dorothée · Appointments: COMIJN Bjorn (director) and DELCOMINETTE Dorothée (director) · published on 27-07-20227 points ▸
- Founder, COMIJN Bjorn
- Founder, DELCOMINETTE Dorothée
- Founding capital, €90,000, 100 shares
- Registered office clause, Voie du Jointy 43, 4537 Verlaine
- Board rule, 2
- Director appointment, COMIJN Bjorn (director (not named in the articles))
- Director appointment, DELCOMINETTE Dorothée (director (not named in the articles))
- The deed holds 5 more points.
First establishment Rue de la Science 20, Villers-le-Bouillet
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0788.865.762
- VAT number
- BE 0788.865.762
- Peppol ID
- 0208:0788865762
- Other Peppol ID
- 9925:BE0788865762
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 25-07-2022
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Tuesday of June at 19:00deed of 27-07-2022 (in French)
- Peppol
- Reachable since 19-02-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- CODEL IMMO in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 27-07-2022 (in French)
Activities
NACEBEL 202568201
Renting and operating of own or leased residential real estate, excluding social housing main activity
68204
Real estate activities
Codes under NACEBEL 2008
68201
Real estate activities main activity
68203
Real estate rental
68204
Real estate activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “La location et l’exploitation de biens immobiliers résidentiels propres ou loués, sauf logements sociaux; La location et l’exploitation de…”deed of 27-07-2022 (in French)
4 activities
- La location et l’exploitation de biens immobiliers résidentiels propres ou loués, sauf logements sociaux
- La location et l’exploitation de biens immobiliers non résidentiels propres ou loués, sauf terrains
- La location et l’exploitation de terrains
- L’intermédiation en achat, vente et location de biens immobiliers pour compte de tiers
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Voie du Jointy 43 registered office 4537 Verlaine | ||
| Rue de la Science 20 4530 Villers-le-Bouillet | 25-07-2022 | 2.337.540.939 |
Buildings and parcels at the addresses
- Ground area
- 3,107 m²
- Buildings
- 606 m²
- Volume, LiDAR
- 3,312 m³
- Tallest building
- 8.0 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 61068A0494/00D002 | 2,266 m² | 1 · 495 m² | 6.6 m · 2 |
| 61063A0786/00N000 | 842 m² | 1 · 111 m² | 8.0 m · 2 |