CODEMA FOOD

Active

Private limited companyfounded 20214 yrs activeBaudeloostraat 17, 8700 Tielt, BelgiumKBO/BCE: BE 0774.984.567

The computed 12-month bankruptcy probability of CODEMA FOOD is 1.9% (moderate). The 2024 annual accounts show equity of €334k and a net result of €92k. Equity is growing by ~34.2% per year across the filed fiscal years. Its solvency ranks better than 24% of 9623 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

55 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability74▼-9

Solvency41=

Growth78=

Track record94

Bankruptcy probability, 12 months

1.9% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €18k at 30 days acceptable

Liquidity short (current ratio 0.99 against 0.71 in 2023; short-term debt: 37.1% and cash: 11.2% of total assets), and 83.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9623 sector peers (2024).

NBB · sector comparison

Position among 9623 sector peers

Solvency

better than 24%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-07-2025, 15 days ahead of the deadline.

NBB · 3 filings

Deviation from the deadline

2025

not confirmed

2024

15 d early

2023

93 d late

2022

20 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€334k▼ 8.9%

2023 · €367k

2022: €106k 2023: €367k

2022 → 2024

Total assets

€2.03M▼ 10.4%

2023 · €2.26M

2022: €2.23M 2023: €2.26M

2022 → 2024

Net result

€92k▼ 64.8%

2023 · €261k

2022: €-44k 2023: €261k

2022 → 2024

Working capital

€-5k▲ 98.1%

2023 · €-255k

2022: €-431k 2023: €-255k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€106k-€367k▲ 247%€334k▼ 8.9%

Operating result€-41k-€342k€132k▼ 61.4%

Net result€-44k-€261k€92k▼ 64.8%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 61% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.03M

63.1%

36.9%

Fixed assets €1.28M▼ 21.2%

Current assets €747k▲ 16.8%

Equity and liabilities €2.03M

16.5%

83.5%

Equity €334k▼ 8.9%

Debt €1.69M▼ 10.7%

The debt ratio falls from 83.8% to 83.5%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€316k▼

2023 · €357k

Cash flow

€277k▲

2023 · €276k

Solvency

16.5%▲

2023 · 16.2%

Current ratio

0.99▲

2023 · 0.71

Quick ratio

0.48▲

2023 · 0.34

Debt / equity

5.07▼

2023 · 5.17

ROE

27.5%▼

2023 · 71.2%

ROA

4.5%▼

2023 · 11.5%

Interest coverage

17.48▲

2023 · 13.21

Debt

€1.69M▼

2023 · €1.90M

Debt ≤ 1 year

€752k▼

2023 · €895k

Debt > 1 year

€940k▼

2023 · €1.00M

Income taxes

€22k▼

2023 · €65k

Staff costs

€343k▲

2023 · €326k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€2.26M€2.03M▼

Fixed assets21/28€1.62M€1.28M▼

Intangible fixed assets21€836k€657k▼

Tangible fixed assets22/27€786k€622k▼

Plant, machinery and equipment23€558k€444k▼

Furniture and vehicles24€2k€97▼

Other tangible fixed assets26€226k€178k▼

Current assets29/58€640k€747k▲

Stocks and contracts in progress3€333k€387k▲

Stocks30/36€333k€387k▲

Amounts receivable within one year40/41€107k€132k▲

Trade receivables40€63k€65k▲

Other amounts receivable41€44k€67k▲

Cash at bank and in hand54/58€201k€228k▲

Equity and liabilities

Total equity and liabilities10/49€2.26M€2.03M▼

Equity10/15€367k€334k▼

Contributions10/11€150k€150k=

Reserves13€15k€184k▲

Non-distributable reserves130/1€15k€15k=

Reserves not available under the articles1311€15k€15k=

Distributable reserves133-€169k

Profit (loss) carried forward14€202k-

Amounts payable17/49€1.90M€1.69M▼

Amounts payable after more than one year17€1.00M€940k▼

Financial debts170/4€1.00M€940k▼

Amounts payable within one year42/48€895k€752k▼

Current portion of amounts payable after more than one year42€90k€100k▲

Trade debts44€675k€584k▼

Suppliers440/4€675k€584k▼

Taxes, remuneration and social security45€130k€68k▼

Taxes450/3€65k€1k▼

Remuneration and social security454/9€65k€67k▲

Income statement Code20232024

Remuneration, social security and pensions62€326k€343k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€185k▲

Other operating charges640/8€15k€16k▲

Gross operating margin9900€698k€675k▼

Operating profit (loss)9901€342k€132k▼

Financial income75/76B€12k€0▼

Recurring financial income75€12k€0▼

Financial charges65/66B€27k€18k▼

Recurring financial charges65€27k€18k▼

Profit (loss) for the period before taxes9903€326k€114k▼

Income taxes67/77€65k€22k▼

Profit (loss) for the period9904€261k€92k▼

Profit (loss) for the period to be appropriated9905€261k€92k▼

Appropriation of the result

Profit (loss) to be appropriated9906€217k€169k▼

Profit (loss) brought forward from the previous period14P€-44k€77k▲

Transfer to equity691/2€15k€169k▲

To the legal reserve6920€15k-

To other reserves6921-€169k

Social balance

Average headcount (FTE)908712.312.8▲

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Financial 2Filings 3

2025

16-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

01-11

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 93 days late

2023

31-12

Financial Back to profitnet €261k

Net result €261k after one loss-making year.

31-12

Financial Equity above €200kEq €367k ▲247%

Equity rises from €106k to €367k.

11-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Tielt · 1 establishment unit since 2021

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Baudeloostraat 178700 Tielt

Ground area

3,689 m²

Building footprint

1,529 m²

Volume, LiDAR

6,301 m³

Parcel 37001C0079/00A007, Flanders · tallest building 5.9 m, ±1 floor. Linked by address, not a title deed.

1 establishment unit

CODEMA FOOD

Baudeloostraat 17, 8700 TieltManufacture of food products

since 20212.322.957.582

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
37001C0079/00A007	Flanders	3,689 m²	1 · 1,529 m²	5.9 m · 1 fl.

Linked by address, not proof of ownership

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.

Public money · subsidies and aid

Flemish government

2022 to 2024 · 4 entries · 33,240 EUR awarded · 33,240 EUR paid

Year	Entries	awarded	paid
2024	1	-2,282 EUR	0 EUR
2023	2	972 EUR	12,510 EUR
2022	1	34,550 EUR	20,730 EUR

Schemes

Ecologiepremie+

3 entries · 32,268 EUR · 32,268 EUR paid · Fonds voor Innoveren en Ondernemen

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

1 entry · 972 EUR · 972 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Food safety, FASFC

1 site

Tielt2.322.957.582

1 permission

Toelating · Detailhandel · since 16-12-2021

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TIENIM

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VWS Frites DISTRIBUTION

Of 10,524 companies in sector 47110 we hold annual accounts for 5,859. 3,657 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded04-10-2021

Fiscal year end31-12

Activities, NACEBEL

47110Non-specialised retail sale with food, beverages or tobacco predominating

47114Supermarkets

47115Retail trade

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.