CoDevCo
ActiveSummary
CoDevCo has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €179,354 and a net result of €5,638. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 93% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-22
Solvency100=
Growth35=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 18.49 against 15.97 in 2024; short-term debt: 5.3% and cash: 82.2% of total assets), and 5.3% of the assets are financed with debt.
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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
94.7%
Return on assets
3%
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 27-07-2026, 4 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
4 d early
2024
on the day
2023
64 d early
2022
49 d early
2021
12 d early
2020
61 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 32 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€113,631▼ 23.1%
2021 · €147,791
EBIT margin
23.2%▼ 9.6pp
2021 · 32.8%
Net result
€5,638▼ 84.8%
2024 · €37,207
Working capital
€176,859▲ 3.3%
2024 · €171,278
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€147,791€113,631▼ 23.1%
Operating result€48,458▼ 31.7%€26,340▼ 45.6%€41,893▲ 59.0%€53,146▲ 26.9%€8,239▼ 84.5%
Net result€34,508within the sector's middle half▼ 30.1%€18,462within the sector's middle half▼ 46.5%€29,793within the sector's middle half▲ 61.4%€37,207within the sector's middle half▲ 24.9%€5,638within the sector's middle half▼ 84.8%
EBIT margin32.8%23.2%▼ 9.6pp
Equity€93,173within the sector's middle half▲ 58.8%€110,034within the sector's middle half▲ 18.1%€139,827within the sector's middle half▲ 27.1%€175,434within the sector's middle half▲ 25.5%€179,354within the sector's middle half▲ 2.2%
Total assets€113,768within the sector's middle half▲ 22.4%€123,947within the sector's middle half▲ 8.9%€147,044within the sector's middle half▲ 18.6%€186,874within the sector's middle half▲ 27.1%€189,467within the sector's middle half▲ 1.4%
Debt€20,595▼ 40.0%€13,913▼ 32.4%€7,217▼ 48.1%€11,440▲ 58.5%€10,113▼ 11.6%
Working capital€107,234within the sector's middle half▲ 113%€115,259within the sector's middle half▲ 7.5%€132,659within the sector's middle half▲ 15.1%€171,278above the sector's middle half▲ 29.1%€176,859above the sector's middle half▲ 3.3%
Solvency81.9%above the sector's middle half▲ 18.8pp88.8%above the sector's middle half▲ 6.9pp95.1%above the sector's middle half▲ 6.3pp93.9%above the sector's middle half▼ 1.2pp94.7%above the sector's middle half▲ 0.8pp
Current ratio30.46above the sector's middle half▲ 27.9532.12above the sector's middle half▲ 1.6519.38above the sector's middle half▼ 12.7315.97above the sector's middle half▼ 3.4118.49above the sector's middle half▲ 2.52
Return on assets (ROA)30.3%above the sector's middle half▼ 22.8pp14.9%within the sector's middle half▼ 15.4pp20.3%within the sector's middle half▲ 5.4pp19.9%within the sector's middle half▼ 0.4pp3.0%within the sector's middle half▼ 16.9pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
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 84% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €189,467
Fixed assets
€2,495 ▼ 40.0%
Current assets
€186,972 ▲ 2.3%
Equity and liabilities €189,467
Equity
€179,354 ▲ 2.2%
Debt
€10,113 ▼ 11.6%
Debt's share of the balance-sheet total falls from 6.1% to 5.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,899▼
2024 · €56,158
Cash flow
€7,298▼
2024 · €40,220
Debt to equity
0.06▼
2024 · 0.07
ROE
3.1%▼
2024 · 21.2%
Interest coverage
133.72▲
2024 · 114.54
Debt ≤ 1 year
€10,113▼
2024 · €11,440
Income taxes
€2,527▼
2024 · €15,449
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 5,049 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €147,791 | €113,631 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €96,195 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,146 | €1,092 | €1,752 | €3,012 | €1,661 | ▼ 44.9% |
| Other operating charges640/8 | - | €450 | €647 | €1,146 | €242 | ▼ 78.9% |
| Gross operating margin9900 | €50,277 | €27,881 | €44,292 | €57,304 | €10,141 | ▼ 82.3% |
| Operating profit (loss)9901 | €48,458 | €26,340 | €41,893 | €53,146 | €8,239 | ▼ 84.5% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | €368 | €328 | €490 | €74 | ▼ 84.9% |
| Recurring financial charges65 | €584 | €368 | €328 | €490 | €74 | ▼ 84.9% |
| Profit (loss) for the period before taxes9903 | €47,874 | €25,972 | €41,565 | €52,656 | €8,165 | ▼ 84.5% |
| Income taxes67/77 | €13,367 | €7,510 | €11,773 | €15,449 | €2,527 | ▼ 83.6% |
| Profit (loss) for the period9904 | €34,508 | €18,462 | €29,793 | €37,207 | €5,638 | ▼ 84.8% |
| Profit (loss) for the period to be appropriated9905 | €34,508 | €18,462 | €29,793 | €37,207 | €5,638 | ▼ 84.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,768 | €123,947 | €147,044 | €186,874 | €189,467 | ▲ 1.4% |
| Fixed assets21/28 | €2,895 | €4,984 | €7,168 | €4,156 | €2,495 | ▼ 40.0% |
| Tangible fixed assets22/27 | €2,895 | €4,984 | €7,168 | €4,156 | €2,495 | ▼ 40.0% |
| Plant, machinery and equipment23 | - | €4,670 | €7,168 | €4,156 | €2,495 | ▼ 40.0% |
| Furniture and vehicles24 | - | €314 | - | - | - | - |
| Current assets29/58 | €110,873 | €118,963 | €139,876 | €182,718 | €186,972 | ▲ 2.3% |
| Amounts receivable within one year40/41 | €14,641 | €4,828 | €70 | €9,753 | €31,252 | ▲ 220% |
| Trade receivables40 | - | €4,828 | - | €9,753 | €26,257 | ▲ 169% |
| Other amounts receivable41 | - | - | €70 | - | €4,995 | - |
| Cash at bank and in hand54/58 | €94,489 | €114,135 | €139,806 | €172,966 | €155,720 | ▼ 10.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,768 | €123,947 | €147,044 | €186,874 | €189,467 | ▲ 1.4% |
| Equity10/15 | €93,173 | €110,034 | €139,827 | €175,434 | €179,354 | ▲ 2.2% |
| Contributions10/11 | - | €9,300 | €9,300 | €9,300 | €9,300 | = |
| Reserves13 | €83,873 | €100,734 | €130,527 | €166,134 | €170,054 | ▲ 2.4% |
| Non-distributable reserves130/1 | - | €2,468 | €2,468 | - | - | - |
| Reserves not available under the articles1311 | - | €2,468 | €2,468 | - | - | - |
| Distributable reserves133 | - | €98,266 | €128,059 | €166,134 | €170,054 | ▲ 2.4% |
| Amounts payable17/49 | €20,595 | €13,913 | €7,217 | €11,440 | €10,113 | ▼ 11.6% |
| Amounts payable within one year42/48 | €3,640 | €3,704 | €7,217 | €11,440 | €10,113 | ▼ 11.6% |
| Trade debts44 | €1,539 | €2,364 | €6,036 | €4,898 | €1,671 | ▼ 65.9% |
| Suppliers440/4 | - | €2,364 | €6,036 | €4,678 | €1,671 | ▼ 64.3% |
| Bills of exchange payable441 | - | - | - | €220 | - | - |
| Taxes, remuneration and social security45 | - | €1,340 | €1,181 | €6,542 | €8,442 | ▲ 29.0% |
| Taxes450/3 | - | €1,340 | - | €6,542 | €8,442 | ▲ 29.0% |
| Remuneration and social security454/9 | - | - | €1,181 | - | - | - |
| Accrued charges and deferred income492/3 | - | €10,208 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,508 | €18,462 | €29,793 | €37,207 | €5,638 | ▼ 84.8% |
| + Depreciation and write-downs630 | €1,146 | €1,092 | €1,752 | €3,012 | €1,661 | ▼ 44.9% |
| Operating cash flow (approximation) | €35,654 | €19,554 | €31,545 | €40,220 | €7,298 | ▼ 81.9% |
| Investment in fixed assets (approximation) | - | -€3,181 | -€3,937 | €0 | €0 | - |
| Change in cash | - | €19,647 | €25,670 | €33,160 | -€17,246 | ▼ 152% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €5,638 ▼84.8%
Net result drops to €5,638, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150,000Eq €175,434 ▲25.5%
5 profitable years in a row build equity to €175,434.
2023
28-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
13-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Equity above €100,000Eq €110,034 ▲18.1%
3 profitable years in a row build equity to €110,034.
19-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Liquidity times 12current ratio 30.46
Current ratio from 2.52 to 30.46; short-term debt falls from €33,206 to €3,640.
2020
01-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Lint · 1 establishment unit since 2019
Ground area
737 m²
Building footprint
156 m²
Volume, LiDAR
816 m³
Parcel 11025D0362/00S000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CoDevCo
since 20192.284.302.488
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11025D0362/00S000 | Flanders | 737 m² | 1 · 156 m² | 7.9 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.
Recognitions · licences · registrations
Legal Entity Identifier
699400LMZI4N4VZ3GN16
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,645 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
Founded15-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0718707741
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.