CODESS
ActiveSummary
CODESS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €341k and a net result of €197k. Equity is growing by ~23.8% per year across the filed fiscal years. Its solvency ranks better than 39% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability99▲+5
Solvency68▼-8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.62 against 0.43 in 2024; short-term debt: 57.4% and cash: 19.1% of total assets), and 57.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
42.6%
Return on assets
24.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
25 d early
2024
99 d early
2023
36 d early
2022
7 d early
2021
29 d late
2020
32 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€341k▼ 15.5%
2024 · €403k
2020: €65klowest in 6 years
2021: €169k▲ +159% vs 2020
2022: €315k▲ +86.2% vs 2021
2023: €406k▲ +28.9% vs 2022highest in 6 years
2024: €403k▼ -0.6% vs 2023
2025: €341k▼ -15.5% vs 2024
2020 → 2025
Total assets
€800k▲ 1.8%
2024 · €786k
2020: €116klowest in 6 years
2021: €256k▲ +121% vs 2020
2022: €435k▲ +69.5% vs 2021
2023: €516k▲ +18.8% vs 2022
2024: €786k▲ +52.1% vs 2023
2025: €800k▲ +1.8% vs 2024highest in 6 years
2020 → 2025
Net result
€197k▲ 22.5%
2024 · €160k
2020: €61klowest in 6 years
2021: €104k▲ +69.5% vs 2020
2022: €146k▲ +40.3% vs 2021
2023: €132k▼ -9.1% vs 2022
2024: €160k▲ +21.1% vs 2023
2025: €197k▲ +22.5% vs 2024highest in 6 years
2020 → 2025
Working capital
€-173k▲ 20.5%
2024 · €-218k
2020: €62k
2021: €115k▲ +87.0% vs 2020highest in 6 years
2022: €22k▼ -80.8% vs 2021
2023: €34k▲ +53.9% vs 2022
2024: €-218k▼ -739% vs 2023lowest in 6 years
2025: €-173k▲ +20.5% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€169k-€315k▲ 86.2%€406k▲ 28.9%€403k▼ 0.6%€341k▼ 15.5%
2021: €169klowest in 5 years
2022: €315k▲ +86.2% vs 2021
2023: €406k▲ +28.9% vs 2022highest in 5 years
2024: €403k▼ -0.6% vs 2023
2025: €341k▼ -15.5% vs 2024
Operating result€146k-€191k▲ 31.2%€163k▼ 14.9%€219k▲ 34.8%€242k▲ 10.6%
2021: €146klowest in 5 years
2022: €191k▲ +31.2% vs 2021
2023: €163k▼ -14.9% vs 2022
2024: €219k▲ +34.8% vs 2023
2025: €242k▲ +10.6% vs 2024highest in 5 years
Net result€104k-€146k▲ 40.3%€132k▼ 9.1%€160k▲ 21.1%€197k▲ 22.5%
2021: €104klowest in 5 years
2022: €146k▲ +40.3% vs 2021
2023: €132k▼ -9.1% vs 2022
2024: €160k▲ +21.1% vs 2023
2025: €197k▲ +22.5% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €800k
Fixed assets
€514k ▼ 17.2%
Current assets
€285k ▲ 73.5%
Equity and liabilities €800k
Equity
€341k ▼ 15.5%
Debt
€459k ▲ 19.9%
Debt's share of the balance-sheet total rises from 48.7% to 57.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€283k▲
2024 · €252k
Cash flow
€237k▲
2024 · €194k
Current ratio
0.62▲
2024 · 0.43
Debt to equity
1.35▲
2024 · 0.95
ROE
57.7%▲
2024 · 39.8%
ROA
24.6%▲
2024 · 20.4%
Interest coverage
31.33▼
2024 · 307.30
Debt ≤ 1 year
€459k▲
2024 · €382k
Income taxes
€61k▲
2024 · €58k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€786k€800k▲
Fixed assets21/28€621k€514k▼
Tangible fixed assets22/27€389k€359k▼
Land and buildings22€335k€308k▼
Plant, machinery and equipment23€3k€4k▲
Furniture and vehicles24€23k€24k▲
Other tangible fixed assets26€27k€23k▼
Financial fixed assets28€233k€155k▼
Current assets29/58€164k€285k▲
Amounts receivable within one year40/41€52k€83k▲
Trade receivables40€52k€34k▼
Other amounts receivable41€0€49k▲
Cash at bank and in hand54/58€47k€153k▲
Deferred charges and accrued income490/1€66k€49k▼
Equity and liabilities
Total equity and liabilities10/49€786k€800k▲
Equity10/15€403k€341k▼
Contributions10/11€4k€4k=
Reserves13€399k€337k▼
Distributable reserves133€399k€337k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€382k€459k▲
Amounts payable within one year42/48€382k€459k▲
Trade debts44€1k€504▼
Suppliers440/4€1k€504▼
Taxes, remuneration and social security45€80k€67k▼
Taxes450/3€78k€65k▼
Remuneration and social security454/9€2k€2k▼
Other amounts payable47/48€301k€392k▲
Accrued charges and deferred income492/3-€48
Income statement
Code20242025
Non-recurring operating income76A€35€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€41k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€254k€286k▲
Operating profit (loss)9901€219k€242k▲
Financial income75/76B€0€24k▲
Recurring financial income75€0€1k▲
Non-recurring financial income76B-€23k
Financial charges65/66B€821€9k▲
Recurring financial charges65€821€9k▲
Profit (loss) for the period before taxes9903€218k€258k▲
Income taxes67/77€58k€61k▲
Profit (loss) for the period9904€160k€197k▲
Profit (loss) for the period to be appropriated9905€160k€197k▲
Appropriation of the result
Profit (loss) to be appropriated9906€160k€197k▲
Transfer from equity791/2€163k€62k▼
Transfer to equity691/2€160k€0▼
To other reserves6921€160k€0▼
Profit to be distributed694/7€163k€259k▲
Return on contributions (dividend)694€163k€259k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €35 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €936 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €11k | €27k | €33k | €41k | ▲ 22.9% |
| Other operating charges640/8 | €207 | €637 | €2k | €2k | €2k | ▲ 10.6% |
| Gross operating margin9900 | €149k | €203k | €192k | €254k | €286k | ▲ 12.2% |
| Operating profit (loss)9901 | €146k | €191k | €163k | €219k | €242k | ▲ 10.6% |
| Financial income75/76B | €1 | €3 | €0 | €0 | €24k | - |
| Recurring financial income75 | €1 | €3 | €0 | €0 | €1k | - |
| Non-recurring financial income76B | - | - | - | - | €23k | - |
| Financial charges65/66B | €1k | €2k | €1k | €821 | €9k | ▲ 1,000% |
| Recurring financial charges65 | €1k | €2k | €1k | €821 | €9k | ▲ 1,000% |
| Profit (loss) for the period before taxes9903 | €144k | €189k | €161k | €218k | €258k | ▲ 18.0% |
| Income taxes67/77 | €41k | €44k | €29k | €58k | €61k | ▲ 5.4% |
| Profit (loss) for the period9904 | €104k | €146k | €132k | €160k | €197k | ▲ 22.5% |
| Profit (loss) for the period to be appropriated9905 | €104k | €146k | €132k | €160k | €197k | ▲ 22.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €256k | €435k | €516k | €786k | €800k | ▲ 1.8% |
| Fixed assets21/28 | €54k | €293k | €371k | €621k | €514k | ▼ 17.2% |
| Tangible fixed assets22/27 | €54k | €293k | €371k | €389k | €359k | ▼ 7.6% |
| Land and buildings22 | €6k | €250k | €334k | €335k | €308k | ▼ 8.1% |
| Plant, machinery and equipment23 | €4k | €3k | €3k | €3k | €4k | ▲ 31.0% |
| Furniture and vehicles24 | €5k | €4k | €3k | €23k | €24k | ▲ 3.2% |
| Other tangible fixed assets26 | €39k | €35k | €31k | €27k | €23k | ▼ 14.6% |
| Financial fixed assets28 | - | - | - | €233k | €155k | ▼ 33.3% |
| Current assets29/58 | €202k | €142k | €145k | €164k | €285k | ▲ 73.5% |
| Amounts receivable within one year40/41 | €42k | €47k | €36k | €52k | €83k | ▲ 61.3% |
| Trade receivables40 | €40k | €45k | €36k | €52k | €34k | ▼ 33.4% |
| Other amounts receivable41 | €2k | €2k | €10 | €0 | €49k | - |
| Cash at bank and in hand54/58 | €158k | €40k | €32k | €47k | €153k | ▲ 226% |
| Deferred charges and accrued income490/1 | €3k | €55k | €78k | €66k | €49k | ▼ 25.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €256k | €435k | €516k | €786k | €800k | ▲ 1.8% |
| Equity10/15 | €169k | €315k | €406k | €403k | €341k | ▼ 15.5% |
| Contributions10/11 | €4k | €4k | €4k | €4k | €4k | = |
| Reserves13 | €165k | €311k | €402k | €399k | €337k | ▼ 15.6% |
| Distributable reserves133 | €165k | €311k | €402k | €399k | €337k | ▼ 15.6% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €87k | €120k | €111k | €382k | €459k | ▲ 19.9% |
| Amounts payable within one year42/48 | €87k | €120k | €111k | €382k | €459k | ▲ 19.9% |
| Trade debts44 | €21 | - | €790 | €1k | €504 | ▼ 64.0% |
| Suppliers440/4 | €21 | - | €790 | €1k | €504 | ▼ 64.0% |
| Taxes, remuneration and social security45 | €87k | €120k | €72k | €80k | €67k | ▼ 17.3% |
| Taxes450/3 | €82k | €115k | €67k | €78k | €65k | ▼ 17.5% |
| Remuneration and social security454/9 | €5k | €5k | €5k | €2k | €2k | ▼ 11.1% |
| Other amounts payable47/48 | - | - | €38k | €301k | €392k | ▲ 30.3% |
| Accrued charges and deferred income492/3 | €275 | - | - | - | €48 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €104k | €146k | €132k | €160k | €197k | ▲ 22.5% |
| + Depreciation and write-downs630 | €2k | €11k | €27k | €33k | €41k | ▲ 22.9% |
| Operating cash flow (approximation) | €106k | €157k | €159k | €194k | €237k | ▲ 22.6% |
| Investment in fixed assets (approximation) | - | €-250k | €-105k | €-283k | €66k | ▲ 123% |
| Change in cash | - | €-118k | €-8k | €15k | €106k | ▲ 594% |
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
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2020net €197k ▲22.5%
Operating result €242k, net result €197k, both a record.
23-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200kEq €315k ▲86.2%
3 profitable years in a row build equity to €315k.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €150kEq €169k ▲159%
2 profitable years in a row build equity to €169k.
01-09
NBB filing
Annual accounts filed
fiscal year 2020 · 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, Tervuren · 1 establishment unit since 2020
Ground area
939 m²
Building footprint
120 m²
Parcel 24023A0481/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
CODESS
since 20202.301.330.344
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24023A0481/00M000 | Flanders | 939 m² | 1 · 120 m² | 0.0 m |
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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,378 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
Founded23-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.