CODESARE
ActiveSummary
The computed 12-month bankruptcy probability of CODESARE is 3.7% (moderate). The annual accounts of CODESARE for fiscal year 2025 show a net loss of 106% of total assets and of 88% of the equity at the start of that year. The 2025 annual accounts show equity of €3,432 and a net result of -€25,023. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 972 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency39▼-57
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
3.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 1.0 against 3.12 in 2024; short-term debt: 85.5% and cash: 37.5% of total assets), and 85.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.5%
Return on assets
-105.7%
Age of the figures
18 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€25,023
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 10-10-2025, 21 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
21 d early
2024
29 d early
2023
33 d early
2022
11 d early
2021
32 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€3,432▼ 87.9%
2024 · €28,455
Total assets
€23,672▼ 40.8%
2024 · €39,977
Net result
-€25,023▼ 68.8%
2024 · -€14,828
Working capital
-€92
2024 · €24,447
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17,439--€17,565€53,479-€14,366-€24,709▼ 72.0%
Net result€13,890--€17,692€45,086-€14,828-€25,023▼ 68.8%
Equity€15,890--€1,803€43,283€28,455▼ 34.3%€3,432▼ 87.9%
Total assets€58,512-€7,745▼ 86.8%€60,506▲ 681%€39,977▼ 33.9%€23,672▼ 40.8%
Debt€42,622-€9,547▼ 77.6%€17,223▲ 80.4%€11,522▼ 33.1%€20,240▲ 75.7%
Working capital€14,700--€2,397€43,283€24,447▼ 43.5%-€92
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €24,709 in 2025 against €14,366 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23,672
Fixed assets
€3,524 ▼ 12.1%
Current assets
€20,148 ▼ 44.0%
Equity and liabilities €23,672
Equity
€3,432 ▼ 87.9%
Debt
€20,240 ▲ 75.7%
Debt's share of the balance-sheet total rises from 28.8% to 85.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€23,705▼
2024 · -€13,629
Cash flow
-€24,020▼
2024 · -€14,091
Current ratio
1.00▼
2024 · 3.12
Debt to equity
5.90▲
2024 · 0.40
ROE
-729.1%▼
2024 · -52.1%
ROA
-105.7%▼
2024 · -37.1%
Interest coverage
-75.45▼
2024 · -29.51
Debt ≤ 1 year
€20,240▲
2024 · €11,522
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €595 | €595 | €595 | €737 | €1,004 | ▲ 36.1% |
| Other operating charges640/8 | - | €465 | €1,054 | €1,539 | €469 | ▼ 69.5% |
| Gross operating margin9900 | €18,613 | -€16,506 | €55,127 | -€12,090 | -€23,237 | ▼ 92.2% |
| Operating profit (loss)9901 | €17,439 | -€17,565 | €53,479 | -€14,366 | -€24,709 | ▼ 72.0% |
| Financial charges65/66B | - | €127 | €272 | €462 | €314 | ▼ 32.0% |
| Recurring financial charges65 | €64 | €127 | €272 | €462 | €314 | ▼ 32.0% |
| Profit (loss) for the period before taxes9903 | €17,375 | -€17,692 | €53,207 | -€14,828 | -€25,023 | ▼ 68.8% |
| Income taxes67/77 | €3,485 | €0 | €8,121 | €0 | - | - |
| Profit (loss) for the period9904 | €13,890 | -€17,692 | €45,086 | -€14,828 | -€25,023 | ▼ 68.8% |
| Profit (loss) for the period to be appropriated9905 | €13,890 | -€17,692 | €45,086 | -€14,828 | -€25,023 | ▼ 68.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,512 | €7,745 | €60,506 | €39,977 | €23,672 | ▼ 40.8% |
| Fixed assets21/28 | €1,189 | €595 | €0 | €4,008 | €3,524 | ▼ 12.1% |
| Tangible fixed assets22/27 | €1,189 | €595 | €0 | €3,808 | €3,524 | ▼ 7.5% |
| Plant, machinery and equipment23 | - | - | - | - | €624 | - |
| Furniture and vehicles24 | - | €595 | €0 | €3,808 | €2,899 | ▼ 23.9% |
| Financial fixed assets28 | - | - | - | €200 | €0 | ▼ 100% |
| Current assets29/58 | €57,323 | €7,150 | €60,506 | €35,969 | €20,148 | ▼ 44.0% |
| Amounts receivable within one year40/41 | €39,462 | €4,258 | €2,192 | €1,124 | €6,733 | ▲ 499% |
| Trade receivables40 | - | €4,258 | €0 | - | €5,458 | - |
| Other amounts receivable41 | - | €0 | €2,192 | €1,124 | €1,276 | ▲ 13.5% |
| Cash at bank and in hand54/58 | €16,458 | €1,506 | €56,787 | €32,537 | €8,877 | ▼ 72.7% |
| Deferred charges and accrued income490/1 | - | €1,386 | €1,527 | €2,308 | €4,538 | ▲ 96.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,512 | €7,745 | €60,506 | €39,977 | €23,672 | ▼ 40.8% |
| Equity10/15 | €15,890 | -€1,803 | €43,283 | €28,455 | €3,432 | ▼ 87.9% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €13,890 | -€3,803 | €41,283 | €26,455 | €1,432 | ▼ 94.6% |
| Amounts payable17/49 | €42,622 | €9,547 | €17,223 | €11,522 | €20,240 | ▲ 75.7% |
| Amounts payable within one year42/48 | €42,622 | €9,547 | €17,223 | €11,522 | €20,240 | ▲ 75.7% |
| Trade debts44 | €38,607 | €3,041 | €1,171 | €3,831 | €4,966 | ▲ 29.6% |
| Suppliers440/4 | - | €3,041 | €1,171 | €3,831 | €4,966 | ▲ 29.6% |
| Taxes, remuneration and social security45 | - | €3,958 | €11,421 | €3,300 | €1,650 | ▼ 50.0% |
| Taxes450/3 | - | €3,958 | €11,421 | €3,300 | €1,650 | ▼ 50.0% |
| Other amounts payable47/48 | - | €2,548 | €4,630 | €4,391 | €13,624 | ▲ 210% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,890 | -€17,692 | €45,086 | -€14,828 | -€25,023 | ▼ 68.8% |
| + Depreciation and write-downs630 | €595 | €595 | €595 | €737 | €1,004 | ▲ 36.1% |
| Operating cash flow (approximation) | €14,484 | -€17,098 | €45,680 | -€14,091 | -€24,020 | ▼ 70.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,745 | -€519 | ▲ 89.1% |
| Change in cash | - | -€14,952 | €55,281 | -€24,251 | -€23,659 | ▲ 2.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet -€25,023
Net result drops to -€25,023, the lowest in the series.
2024
02-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Back to profitnet €45,086
Net result €45,086 after one loss-making year.
31-03
Financial
Liquidity times 5current ratio 3.51
Current ratio from 0.75 to 3.51.
2022
20-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
02-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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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, Les Bons Villers · 1 establishment unit since 2020
Ground area
460 m²
Building footprint
208 m²
Volume, LiDAR
1,215 m³
Parcel 52046B0794/00P000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
-
since 20202.300.064.592
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52046B0794/00P000 | Wallonia | 460 m² | 1 · 208 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,725 companies in sector 52210 we hold annual accounts for 771. 196 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-02-2020
Fiscal year end31-03
Activities, NACEBEL 2025
52210Service activities incidental to land transportation
52250Logistics services
63920Other information service activities
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
E-mail
codesare.srl@hotmail.com
Phone
+32000000000
Phone
0472878401Les Bons Villers
Scores and ratios are computed by Checked and are not a credit decision.