CODERMA
ActiveSummary
CODERMA has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €911,695 and a net result of €171,211. Equity is growing by ~21% per year across the filed fiscal years. The computed 12-month bankruptcy probability is < 0.1% (very low).
Financials · fiscal year 2025, micro schema
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result returns to profit in 2025: €256,072 after a loss of €10 in 2024, the highest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,471 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,139 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €75,631 | €52,160 | €47,135 | €9,076 | €38,183 | €43,134 | €43,643 | €38,441 | ▼ 11.9% |
| Other operating charges640/8 | - | - | - | €3,323 | €12,447 | €6,744 | €4,216 | €4,725 | ▲ 12.1% |
| Gross operating margin9900 | €151,579 | €175,448 | €81,748 | €172,245 | €287,471 | €279,535 | €47,849 | €299,237 | ▲ 525% |
| Operating profit (loss)9901 | €72,159 | €119,425 | €30,698 | €159,846 | €236,841 | €229,657 | -€10 | €256,072 | ▲ 2,515,539% |
| Financial income75/76B | - | - | - | €7,343 | €4,327 | €6,263 | €8,118 | €9,698 | ▲ 19.5% |
| Recurring financial income75 | €12,166 | €10,020 | €12,159 | €7,343 | €4,327 | €6,263 | €8,118 | €9,698 | ▲ 19.5% |
| Financial charges65/66B | - | - | - | €4,133 | €4,218 | €2,970 | €1,907 | €1,557 | ▼ 18.4% |
| Recurring financial charges65 | €8,265 | €5,441 | €60,778 | €4,133 | €4,218 | €2,970 | €1,907 | €1,557 | ▼ 18.4% |
| Profit (loss) for the period before taxes9903 | €76,060 | €124,004 | €38,825 | €163,056 | €236,949 | €232,950 | €6,200 | €264,212 | ▲ 4,161% |
| Income taxes67/77 | €29,824 | €43,829 | €21,289 | €51,719 | €80,000 | €66,656 | €8,239 | €93,002 | ▲ 1,029% |
| Profit (loss) for the period9904 | €46,235 | €80,175 | €17,536 | €111,337 | €156,949 | €166,294 | -€2,039 | €171,211 | ▲ 8,498% |
| Profit (loss) for the period to be appropriated9905 | €46,235 | €80,175 | €40,636 | €111,337 | €156,949 | €166,294 | -€2,039 | €171,211 | ▲ 8,498% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €0.6m | €0.6m | €0.6m | €0.8m | €0.9m | €0.8m | €1.0m | ▲ 24.6% |
| Fixed assets21/28 | €0.4m | €0.3m | €0.2m | €0.2m | €0.4m | €0.4m | €0.4m | €0.1m | ▼ 64.2% |
| Tangible fixed assets22/27 | €0.4m | €0.3m | €0.2m | €0.2m | €0.4m | €0.3m | €0.3m | €0.05m | ▼ 81.0% |
| Land and buildings22 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.002m | €0.001m | €0.01m | €0.008m | ▼ 14.4% |
| Furniture and vehicles24 | - | - | - | €0.005m | €0.2m | €0.1m | €0.08m | €0.05m | ▼ 43.8% |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €0.001m | - |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | €0.002m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Current assets29/58 | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | €0.5m | €0.5m | €0.9m | ▲ 94.3% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.1m | €0.08m | €0.001m | €0.1m | €0.2m | €0.7m | ▲ 349% |
| Trade receivables40 | - | - | - | €0.002m | - | €0.1m | €0.02m | - | - |
| Other amounts receivable41 | - | - | - | €0.07m | €0.001m | €0.005m | €0.1m | €0.7m | ▲ 422% |
| Current investments50/53 | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 6.5% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.09m | €0.1m | €0.2m | €0.3m | €0.3m | €0.1m | ▼ 52.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.1m | €0.003m | €0.003m | €0.002m | ▼ 33.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €0.6m | €0.6m | €0.6m | €0.8m | €0.9m | €0.8m | €1.0m | ▲ 24.6% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.4m | €0.6m | €0.7m | €0.7m | €0.9m | ▲ 23.1% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.2m | €0.2m | €0.3m | €0.4m | €0.6m | €0.6m | €0.8m | ▲ 28.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.3m | €0.4m | €0.6m | €0.6m | €0.8m | ▲ 28.4% |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Provisions and deferred taxes16 | €0.07m | €0.06m | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.3m | €0.2m | €0.3m | €0.1m | €0.2m | €0.1m | €0.09m | €0.1m | ▲ 37.3% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.07m | €0.05m | €0.1m | €0.08m | €0.05m | €0.009m | ▼ 79.9% |
| Financial debts170/4 | - | - | - | €0.05m | €0.1m | €0.08m | €0.05m | €0.009m | ▼ 79.9% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.2m | €0.09m | €0.1m | €0.07m | €0.04m | €0.1m | ▲ 165% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.06m | €0.04m | €0.04m | €0.04m | ▲ 1.2% |
| Trade debts44 | €0.01m | €0.02m | €0.07m | €0.02m | €0.009m | €0.006m | €0.006m | €0.004m | ▼ 37.9% |
| Suppliers440/4 | - | - | - | €0.02m | €0.009m | €0.006m | €0.006m | €0.004m | ▼ 37.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.04m | €0.03m | - | €0.07m | - |
| Taxes450/3 | - | - | - | €0.05m | €0.04m | €0.03m | - | €0.07m | - |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.001m | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €150 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,235 | €80,175 | €17,536 | €111,337 | €156,949 | €166,294 | -€2,039 | €171,211 | ▲ 8,498% |
| + Depreciation and write-downs630 | €75,631 | €52,160 | €47,135 | €9,076 | €38,183 | €43,134 | €43,643 | €38,441 | ▼ 11.9% |
| Operating cash flow (approximation) | €121,866 | €132,335 | €64,671 | €120,413 | €195,132 | €209,428 | €41,604 | €209,651 | ▲ 404% |
| Investment in fixed assets (approximation) | - | -€2,780 | €56,028 | -€3,497 | -€256,058 | -€3,678 | -€9,646 | €195,125 | ▲ 2,123% |
| Change in cash | - | €45,853 | -€55,267 | €23,997 | €137,994 | €99,705 | -€87,847 | -€137,087 | ▼ 56.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.