CODEVCO XVIII
InactiveFinancials · financial year 2026, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€315,580
Working capital
-€144,463
2025 · €61,500
Trend over the years
2025 to 2026, 2 financial years
The operating result stays negative: a loss of €320,372 in 2026 against €1,225 in 2025; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.3m
2026
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.4m
2026
Equity€1.2m
2026
Debt€0.2m
2026
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.1m
2026
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20252026
Operating result-€0.001m--€0.3m▼ 26,059%
Net result-€0.3m
Equity€0.06m-€1.2m▲ 20×
Total assets€0.06m-€1.4m▲ 22×
Debt€0.003m-€0.2m▲ 76×
Working capital€0.06m--€0.1m
Why a figure moved sharply
- 2026 Equity +1,880%, Total assets +2,119% on 2025. Part of Smart Innovation received in a demerger, Official Gazette 24-12-2025. Capital increase of €2,026,736 (Official Gazette 24-12-2025).
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.4m
Current assets
€61,626
Equity and liabilities €1.4m
Equity
€1.2m ▲ 20×
Debt
€207,056 ▲ 76×
Debt's share of the balance-sheet total rises from 4.2% to 14.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€159,138
Cash flow
-€154,346
Current ratio
0.30▼
2025 · 23.62
Debt to equity
0.17▲
2025 · 0.04
ROE
-25.9%
ROA
-22.1%
Interest coverage
-211.18
Debt ≤ 1 year
€206,089▲
2025 · €2,719
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €161,234 | - |
| Other operating charges640/8 | €250 | €350 | ▲ 40.0% |
| Gross operating margin9900 | -€975 | -€158,788 | ▼ 16,191% |
| Operating profit (loss)9901 | -€1,225 | -€320,372 | ▼ 26,059% |
| Financial income75/76B | €1,967 | €5,546 | ▲ 182% |
| Recurring financial income75 | €1,967 | €5,546 | ▲ 182% |
| Financial charges65/66B | €742 | €754 | ▲ 1.5% |
| Recurring financial charges65 | €742 | €754 | ▲ 1.5% |
| Profit (loss) for the period before taxes9903 | - | -€315,580 | - |
| Profit (loss) for the period9904 | - | -€315,580 | - |
| Profit (loss) for the period to be appropriated9905 | - | -€315,580 | - |
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €0.06m | €1.4m | ▲ 22× |
| Fixed assets21/28 | - | €1.4m | - |
| Intangible fixed assets21 | - | €1.0m | - |
| Tangible fixed assets22/27 | - | €0.3m | - |
| Land and buildings22 | - | €0.03m | - |
| Plant, machinery and equipment23 | - | €0.3m | - |
| Furniture and vehicles24 | - | €0.03m | - |
| Current assets29/58 | €0.06m | €0.06m | ▼ 4.0% |
| Amounts receivable after more than one year29 | - | €0.01m | - |
| Other amounts receivable291 | - | €0.01m | - |
| Amounts receivable within one year40/41 | - | €0.05m | - |
| Trade receivables40 | - | €0.05m | - |
| Other amounts receivable41 | - | €0.003m | - |
| Cash at bank and in hand54/58 | €0.06m | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €0.06m | €1.4m | ▲ 22× |
| Equity10/15 | €0.06m | €1.2m | ▲ 20× |
| Contributions10/11 | €0.06m | €2.1m | ▲ 34× |
| Capital10 | €0.06m | €2.1m | ▲ 34× |
| Issued capital100 | €0.06m | €2.1m | ▲ 34× |
| Profit (loss) carried forward14 | - | -€0.9m | - |
| Amounts payable17/49 | €0.003m | €0.2m | ▲ 76× |
| Amounts payable within one year42/48 | €0.003m | €0.2m | ▲ 76× |
| Financial debts43 | - | €0.2m | - |
| Credit institutions430/8 | - | €0.2m | - |
| Trade debts44 | €0.003m | €0.05m | ▲ 19× |
| Suppliers440/4 | €0.003m | €0.05m | ▲ 19× |
| Accrued charges and deferred income492/3 | - | €0.001m | - |
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | - | -€315,580 | - |
| + Depreciation and write-downs630 | - | €161,234 | - |
| Operating cash flow (approximation) | - | -€154,346 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2026 | full format | 23-09-2026 | 2026-00543355 |
| 31-03-2025 | abbreviated format | 28-09-2025 | 2025-00523628 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.