CODESC
ActiveSummary
The computed 12-month bankruptcy probability of CODESC is 2.4% (moderate). The 2025 annual accounts show equity of €15k and a net result of €3k. Its solvency ranks better than 51% of 7453 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▼-20
Solvency70▲+7
Growth52
Track record94
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.54 in 2024; short-term debt: 38.5% of total assets), but 55.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44.5%
Return on assets
9.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 2 filingsDeviation from the deadline
2025
30 d late
2024
27 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€15k▲ 26.0%
2024 · €12k
2024: €12k
2024 → 2025
Total assets
€33k▲ 6.6%
2024 · €31k
2024: €31k
2024 → 2025
Net result
€3k▼ 71.5%
2024 · €11k
2024: €11k
2024 → 2025
Working capital
€12k▲ 24.5%
2024 · €10k
2024: €10k
2024 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€12k-€15k▲ 26.0%
Operating result€16k-€5k▼ 68.7%
Net result€11k-€3k▼ 71.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 69% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33k
Fixed assets
€8k ▲ 236%
Current assets
€25k ▼ 12.1%
Equity and liabilities €33k
Equity
€15k ▲ 26.0%
Debt
€18k ▼ 5.1%
Debt's share of the balance-sheet total falls from 62.3% to 55.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€6k▼
2024 · €17k
Cash flow
€4k▼
2024 · €11k
Current ratio
1.98▲
2024 · 1.54
Debt to equity
1.25▼
2024 · 1.65
ROE
20.6%▼
2024 · 91.3%
ROA
9.2%▼
2024 · 34.4%
Interest coverage
15.35▼
2024 · 34.05
Debt ≤ 1 year
€13k▼
2024 · €18k
Debt > 1 year
€6k▲
2024 · €666
Income taxes
€2k▼
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€31k€33k▲
Fixed assets21/28€2k€8k▲
Tangible fixed assets22/27€2k€8k▲
Plant, machinery and equipment23€414€152▼
Furniture and vehicles24€2k€8k▲
Current assets29/58€28k€25k▼
Amounts receivable within one year40/41€21k€25k▲
Trade receivables40€14k€10k▼
Other amounts receivable41€6k€15k▲
Cash at bank and in hand54/58€7k-
Equity and liabilities
Total equity and liabilities10/49€31k€33k▲
Equity10/15€12k€15k▲
Contributions10/11€1k€1k=
Reserves13€11k€14k▲
Distributable reserves133€11k€14k▲
Amounts payable17/49€19k€18k▼
Amounts payable after more than one year17€666€6k▲
Financial debts170/4€666€6k▲
Amounts payable within one year42/48€18k€13k▼
Current portion of amounts payable after more than one year42€692€3k▲
Financial debts43-€4k
Credit institutions430/8-€4k
Trade debts44€6k€423▼
Suppliers440/4€6k€423▼
Taxes, remuneration and social security45€11k€6k▼
Taxes450/3€10k€6k▼
Remuneration and social security454/9€2k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€925€1k▲
Other operating charges640/8€2k€573▼
Gross operating margin9900€18k€7k▼
Operating profit (loss)9901€16k€5k▼
Financial income75/76B€16€48▲
Recurring financial income75€16€48▲
Financial charges65/66B€489€416▼
Recurring financial charges65€489€416▼
Profit (loss) for the period before taxes9903€15k€5k▼
Income taxes67/77€5k€2k▼
Profit (loss) for the period9904€11k€3k▼
Profit (loss) for the period to be appropriated9905€11k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€3k▼
Transfer to equity691/2€11k€3k▼
To other reserves6921€11k€3k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
NBB filing
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, Merelbeke-Melle · 1 establishment unit since 2023
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.
Hof ter Eeken 129090 Merelbeke-MelleGround area
328 m²
Building footprint
101 m²
Parcel 44040B0230/00Y000, Flanders. Linked by address, not a title deed.
1 establishment unit
CODESC
since 20232.347.751.475
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44040B0230/00Y000 | Flanders | 328 m² | 1 · 101 m² | - |
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.
Similar companies · same sector, comparable size
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BOUWBEDRIJF CHAPPY
BE 0463.092.747
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TBS
BE 0754.424.725
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CONCRETE PRO
BE 1006.258.895
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Of 29,797 companies in sector 41001 we hold annual accounts for 16,049. 10,590 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-06-2023
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
22240Manufacture of rubber and plastic products
43230Insulation installation
43240Other construction installation
43341Painting of buildings
43990Other specialised construction activities
46831Wholesale of construction materials, general range
80090Investigation and security activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.