CODEST
Annual accounts 2025
micro format, filed on 03-07-2026, 28 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €150,000 and €210,000.
Balance sheet
balance sheet total €141,881 on 31-12-2025in euro
in euro
Position in the sector
85.8%
Higher than 83% of 21,208 companies in 2025.
7.21
Higher than 83% of 20,571 companies in 2025.
43.9%
Higher than 81% of 20,746 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
141,881 | 78,063 | |
21/28 |
20,670 | 16,829 | |
21 |
884 | 1,184 | |
22/27 |
19,786 | 15,645 | |
23 |
1,125 | 1,488 | |
24 |
3,362 | 1,310 | |
26 |
15,299 | 12,846 | |
29/58 |
121,211 | 61,234 | |
40/41 |
24,136 | 20,608 | |
40 |
19,199 | 16,647 | |
41 |
4,937 | 3,961 | |
54/58 |
95,596 | 39,099 | |
490/1 |
1,479 | 1,527 | |
| Balance sheet: equity and liabilities | |||
10/49 |
141,881 | 78,063 | |
10/15 |
121,669 | 59,359 | |
10/11 |
5,000 | 5,000 | |
13 |
116,669 | 54,359 | |
133 |
116,669 | 54,359 | |
17/49 |
20,212 | 18,704 | |
42/48 |
16,807 | 15,704 | |
44 |
992 | 1,895 | |
440/4 |
992 | 1,895 | |
45 |
11,645 | 12,874 | |
450/3 |
7,722 | 12,874 | |
454/9 |
3,923 | - | |
47/48 |
4,169 | 936 | |
492/3 |
3,405 | 3,000 | |
| Income statement | |||
9900 |
85,378 | 74,430 | |
630 |
3,145 | 2,252 | |
640/8 |
628 | 1,048 | |
9901 |
81,606 | 71,130 | |
75/76B |
1 | 16 | |
75 |
1 | 16 | |
65/66B |
2,752 | 2,719 | |
65 |
2,752 | 2,719 | |
9903 |
78,855 | 68,426 | |
67/77 |
16,545 | 14,067 | |
9904 |
62,310 | 54,359 | |
9905 |
62,310 | 54,359 | |
| Appropriation of the result | |||
9906 |
62,310 | 54,359 | |
691/2 |
62,310 | 54,359 | |
6921 |
62,310 | 54,359 | |
| Document | |||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2024 to 2025, 2 entries, €461 awarded, €461 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €429 | €429 |
| 2024 | 1 | €32 | €32 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 84,751 | 73,382 | ||
| 65,455 | 56,611 | ||
| 6,986 | 19,081 | ||
| 56,497 | - | ||
| 104,404 | 45,530 | ||
| 85.8% | 76.0% | ||
| 7.21 | 3.90 | ||
| 0.17 | 0.32 | ||
| 51.2% | 91.6% | ||
| 43.9% | 69.6% | ||
| 30.79 | 26.99 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €6,986 | €17,581 |
| Intangible fixed assets | - | €1,500 |
| €3,145 | €2,252 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on CODEST
The operating result for 2025 is 15% higher than in 2024.
Debt's share of the balance-sheet total falls from 24.0% to 14.2%. Equity and debt are higher.