Active BE 0892.646.458Private limited company

Codeminded

Nopstal 52 ·3202 Aarschot, Belgium· 18 yrs active

Sector: Computer consultancy and computer facilities management (62200)

Conclusion Checked

Codeminded has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €409k and a net result of €48k. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 93% of 2591 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€409k
Net result	€48k
Better than sector	93%
Active	18 yrs

Financial profile 5 of 5 axes measured · computed by Checked

87 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 59

Solvency 100

Growth 78

Stability 100

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

Established

Founded in 2007, 18 years in business.

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

100 / 100 Excellent

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

€40k

estimate, not credit advice

Score history

86 2022

100 2023

100 2024

100 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 11.54 (≥ 1.5) +10

Quick ratio Quick ratio 11.54 (≥ 1.0) +5

Leverage Debt/equity 0.07 (< 1.0) +10

Profitability ROE 12% (≥ 10%) +10

Interest coverage Interest coverage 478.2× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

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

Financial overview18 NBB filings

Annual accounts filed on 24-04-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~5.6%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	93.4%	46.0%	better than 93% of 2591 sector peers
Net result	€48k	€24k	better than 63% of 2589 sector peers
Equity	€409k	€141k	better than 71% of 2592 sector peers
Gross operating margin	€97k	€90k	better than 51% of 2585 sector peers
Total assets	€437k	€397k	better than 52% of 2591 sector peers

EBITDA

€94k

+5.0% 22-25

Net profit

€48k

+4.8% 22-25

Cash flow

€76k

+5.8% 22-25

Total assets

€437k

+5.2% 22-25

Equity

€409k

+6.2% 22-25

Working capital

€305k

+10.6% 22-25

Employees (FTE)

0

- 22-25

Income taxes

€19k

+1.2% 22-25

Dividends

€24k

+18.8% 22-25

Debt

€29k

-7.2% 22-25

Debt ≤ 1y

€29k

-5.1% 22-25

Current ratio

11.54

+14.9% 22-25

Quick ratio

11.54

+14.9% 22-25

Solvency

93.4%

+1.0% 22-25

Debt / equity

0.07

-12.6% 22-25

ROE

11.8%

-1.3% 22-25

ROA

11.0%

-0.3% 22-25

Interest coverage

478.23

-31.3% 22-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-	-
EBITDA	+5.0%	+15.4%	+5.1%	-
Net profit	+4.8%	+26.7%	+9.5%	-
Cash flow	+5.8%	+14.2%	+5.5%	-
Staff costs	-	-	-	-
Income taxes	+1.2%	+21.7%	+1.5%	-
Dividends	+18.8%	-34.7%	+48.5%	-
Total assets	+5.2%	+13.6%	+1.7%	-
Equity	+6.2%	+7.1%	+1.4%	-
Debt	-7.2%	+367.0%	+25.5%	-
of which ≤ 1y	-5.1%	+356.5%	+25.5%	-
of which > 1y	-	-	-	-
Working capital	+10.6%	+22.8%	+14.3%	-
Employees (FTE)	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	11.54	10.05	34.64	37.96
Quick ratio	11.54	10.05	34.64	37.96
Working capital ratio	69.6%	66.2%	61.3%	54.5%
Solvency	93.4%	92.5%	98.2%	98.5%
Debt / equity	0.07	0.08	0.02	0.01
Long-term debt ratio	-	-	-	-
Interest coverage	478.23	695.95	555.44	615.98
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	11.0%	11.0%	9.9%	9.2%
ROE	11.8%	11.9%	10.1%	9.3%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €104k · 23.8% Current assets €333k · 76.2%

Equity & liabilities

Equity €409k · 93.4% Debt €29k · 6.6%

Full annual accounts (23 line items)

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

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€437k	€416k	€366k	€360k
Fixed assets	21/28	€104k	€110k	€135k	€158k
Tangible fixed assets	22/27	€104k	€110k	€135k	€158k
Current assets	29/58	€333k	€306k	€231k	€202k
Amounts receivable within one year	40/41	€15k	€14k	€18k	€18k
Investments	50/53	€159k	€128k	€128k	€118k
Cash & bank	54/58	€157k	€161k	€83k	€64k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€437k	€416k	€366k	€360k
Equity	10/15	€409k	€385k	€359k	€354k
Contributions / capital	10/11	€19k	€19k	€19k	€19k
Reserves	13	€390k	€366k	€341k	€336k
Accumulated profits (losses)	14	€61	€61	€61	€61
Amounts payable	17/49	€29k	€31k	€7k	€5k
Amounts payable within one year	42/48	€29k	€30k	€7k	€5k
Trade debts payable within one year	44	€4k	€4k	€1k	€1k
Income statement
Gross operating margin	9900	€97k	€92k	€83k	€75k
Operating result	9901	€66k	€64k	€51k	€47k
Financial income	75	€704	€678	€417	€648
Financial charges	65	€196	€129	€140	€120
Result before taxes	9903	€67k	€64k	€51k	€48k
Income taxes	67/77	€19k	€18k	€15k	€15k
Net result for the period	9904	€48k	€46k	€36k	€33k
Result to be appropriated	9905	€48k	€46k	€36k	€33k

Legal Structure

NACE primary	Computer consultancy and computer facilities management(62200)
Legal form	Private limited company(610)
Incorporation	09-10-2007
Status	Active
Postal code	3202

Establishment units 1 location

Codeminded

Nopstal 52, 3202 AarschotNACE 5248701

since 20072.165.659.018

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24092D0079/00B000	Flanders	1,185 m²	1 · 151 m²	7.5 m · 2 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 11 events

All 12Financial 1Gazette 1Filings 10

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

2026

24-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Highest result since 2022net €48k ▲4.8%

Operating result €66k, net result €48k, both a record.

30-04

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

23-05

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

20-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

21-06

State Gazette act Director changes

Erika ISENBORGHS

17-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

25-06

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

23-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

28-06

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

31-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 31 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 4 years ago

2022

21-06-2022 Change in the board of directors Director changes·Erika ISENBORGHS

Notary: Erika ISENBORGHS · Heist-op-den-Berg

Original publication ↗

Technical details

{
  "events": [],
  "notary": {
    "name": "Erika ISENBORGHS",
    "firm_city": null,
    "firm_name": null,
    "office_city": "Heist-op-den-Berg",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2022-06-21",
    "filing_date": "2022-06-17",
    "act_kind_objet": "WIJZIGING RECHTSVORM, ONTSLAGEN, BENOEMINGEN"
  },
  "decisions": [
    {
      "body": "algemene_vergadering",
      "date": "2022-06-10",
      "unanimous": true
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0892.646.458",
    "name_full": "Codeminded",
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Erika ISENBORGHS",
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "uitgifte van akte",
    "geco\u00F6rdineerde statuten"
  ],
  "corrected_publication_numac": null
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

IT consultancy62020Computer consultancy and computer facilities management6220072100

Names & trade names

Legal nameNL

Codeminded

Similar companies Comparable size · 18,057 of 29,956 companies in this sector with filed accounts

JM CONSULT BE 0873.073.739 · Nazareth

Applications Consultancy and Technology services BE 0460.658.443 · Waterloo

addon BE 0544.888.392 · Kontich

ARTICT BE 0542.717.473 · Bornem

Poka Yoke BE 0653.788.116 · Ardooie