Equity
Equity fell by 97% in 2 years.
Equity fell by 97% in 2 years.
€500,000 of the debts are secured on the company's own assets. In 2024 that was €100,000.
Green is investment, beige is depreciation.
In 2025, 5 people joined and 7 left.
The last five annual accounts were filed 0 to 103 days before the end of the period.
Lower net result than 95% of companies in computer programming and consultancy. Sector median €22,956 · 3,406 companies.
The dashed line is the sector median: 0.2% across 1,167 companies (NACE 62, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, small). It does better than 9% of them on solvency, 8% on liquidity, 4% on profitability and 4% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 112 companies had the same profile as CODEVID has now. Each dot is one company, two years later.
Another 0.9% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CODEVID itself: 2.2% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 112 companies, not a prediction for CODEVID. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.84 (1.45 in 2024), below 1. Short-term debt is 79% and cash 5% of total assets. 99% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 50 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CODEVID Ghent | €1.6m | €0.8m | 1.0% | 18.4 |
| Swhite Antwerp | €1.5m | €1.3m | 76.6% | 16.5 |
| XANDORRA BELGIË Kortrijk | €1.5m | €1.3m | -88.1% | 18 |
| SPEARPOINT Rijkevorsel | €1.7m | €0.6m | -10.2% | 12.8 |
| ProFunctional Kortrijk | €1.4m | €0.9m | 34.1% | 11.6 |
| Questi Geel | €1.3m | €0.8m | 45.3% | 11.6 |
| HI10 Antwerp | €1.2m | €0.9m | 55.5% | 13.8 |
These companies have the same main activity as CODEVID: computer programming (NACE 62100). They are comparable in size and age: total assets between €1.2m and €1.7m, founded between 2010 and 2015.
CODEVID files the abbreviated format. That format states no turnover. The gross margin rose from €97,592 in 2015 to €843,605 in 2025.
Geniki holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.2m. Estimated: probably between €1.5m and €3.6m.
Higher than 15% of 3,406 companies in 2025.
Higher than 18% of 3,267 companies in 2025.
Higher than 7% of 3,315 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter
Staff costs divided by the average number of full-time equivalents.
In 2025, 5 people joined and 7 left. Training hours in 2025: 16.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
1.6m | 2.0m | 1.1m | 1.4m | 1.2m | 1.1m | 1.0m | 561,787 | 609,682 | 442,875 | 103,722 | |
21/28 |
534,559 | 605,903 | 165,401 | 228,253 | 209,224 | 420,887 | 392,118 | 11,870 | 12,639 | 17,590 | 6,419 | |
21 |
20,334 | 23,834 | 29,084 | 32,584 | - | - | - | - | - | - | - | |
22/27 |
245,109 | 312,953 | 124,950 | 195,339 | 208,893 | 420,557 | 391,788 | 11,540 | 12,309 | 17,260 | 6,419 | |
22 |
- | - | - | - | - | 277,309 | 285,654 | - | - | - | - | |
24 |
245,109 | 309,317 | 119,459 | 194,606 | 207,952 | 143,249 | 106,133 | 11,540 | 11,259 | 15,161 | 3,270 | |
26 |
- | 3,636 | 5,492 | 733 | 941 | - | - | - | 1,050 | 2,099 | 3,149 | |
28 |
269,116 | 269,116 | 11,367 | 330 | 331 | 330 | 330 | 330 | 330 | 330 | - | |
29/58 |
1.1m | 1.4m | 964,866 | 1.2m | 995,624 | 699,016 | 623,096 | 549,917 | 597,043 | 425,285 | 97,304 | |
29 |
- | - | - | 5,895 | 13,474 | 25,158 | 10,000 | 21,053 | - | - | - | |
291 |
- | - | - | 5,895 | 13,474 | 25,158 | 10,000 | 21,053 | - | - | - | |
40/41 |
927,927 | 1.0m | 628,575 | 756,187 | 682,693 | 408,944 | 236,828 | 217,663 | 358,766 | 171,832 | 36,816 | |
40 |
566,943 | 858,473 | 619,647 | 747,430 | 663,056 | 407,260 | 172,840 | 217,663 | 309,156 | 171,832 | 36,816 | |
41 |
360,984 | 174,228 | 8,928 | 8,757 | 19,637 | 1,684 | 63,988 | - | 49,610 | - | - | |
50/53 |
- | - | - | - | - | - | 119,706 | 69,416 | 49,416 | 49,416 | - | |
54/58 |
78,520 | 244,153 | 271,154 | 391,812 | 289,009 | 257,064 | 247,253 | 235,014 | 184,617 | 201,153 | 58,730 | |
490/1 |
44,338 | 100,946 | 65,137 | 12,642 | 10,449 | 7,849 | 9,308 | 6,770 | 4,245 | 2,884 | 1,758 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
1.6m | 2.0m | 1.1m | 1.4m | 1.2m | 1.1m | 1.0m | 561,787 | 609,682 | 442,875 | 103,722 | |
10/15 |
15,825 | 592,154 | 592,154 | 489,679 | 316,163 | 256,062 | 310,184 | 374,313 | 452,295 | 274,708 | 58,404 | |
10/11 |
77,188 | 77,188 | 77,188 | 77,188 | 117,688 | - | 18,600 | 18,600 | 18,600 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | 12,400 | 12,400 | |
11 |
- | - | - | - | - | 118,600 | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 118,600 | - | - | - | - | - | |
13 |
993 | 514,966 | 514,966 | 412,491 | 198,475 | 137,462 | 291,584 | 355,713 | 433,695 | 268,508 | 52,204 | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
132 |
993 | 993 | 993 | 993 | 993 | 1,001 | - | - | 18,750 | 18,750 | - | |
133 |
- | 513,973 | 513,973 | 411,498 | 197,482 | 136,461 | 289,724 | 353,853 | 413,085 | 247,898 | 50,344 | |
14 |
-62,356 | - | - | - | - | - | - | - | - | - | - | |
17/49 |
1.6m | 1.4m | 538,114 | 905,110 | 888,686 | 863,841 | 705,029 | 187,474 | 157,386 | 168,167 | 45,318 | |
17 |
304,253 | 319,126 | 44,409 | 102,040 | 67,148 | 351,469 | 330,857 | - | - | - | - | |
170/4 |
304,253 | 319,126 | 44,409 | 102,040 | 67,148 | 351,469 | 330,857 | - | - | - | - | |
42/48 |
1.3m | 949,029 | 490,198 | 795,901 | 803,806 | 497,647 | 369,582 | 181,334 | 155,636 | 166,167 | 43,818 | |
42 |
131,438 | 182,476 | 84,829 | 174,765 | 57,924 | 60,222 | 36,259 | 33,442 | - | - | - | |
43 |
500,000 | 100,000 | 133,695 | 283,244 | 250,000 | - | 33,443 | - | - | - | - | |
430/8 |
500,000 | 100,000 | 133,695 | 283,244 | 250,000 | - | 33,443 | - | - | - | - | |
44 |
431,564 | 333,604 | 90,265 | 156,664 | 161,014 | 156,408 | 82,856 | 43,514 | 22,223 | 22,839 | 2,944 | |
440/4 |
431,564 | 333,604 | 90,265 | 156,664 | 161,014 | 156,408 | 82,856 | 43,514 | 22,223 | 22,839 | 2,944 | |
45 |
189,844 | 243,246 | 177,149 | 177,387 | 224,888 | 111,124 | 73,329 | 101,585 | 131,914 | 135,819 | 33,879 | |
450/3 |
51,992 | 80,324 | 89,015 | 93,587 | 113,410 | 23,289 | 14,713 | 63,011 | 131,072 | 124,093 | 33,879 | |
454/9 |
137,852 | 162,922 | 88,134 | 83,800 | 111,478 | 87,835 | 58,615 | 38,573 | 842 | 11,726 | - | |
47/48 |
- | 89,703 | 4,261 | 3,842 | 109,980 | 169,894 | 143,694 | 2,794 | 1,500 | 7,509 | 6,995 | |
492/3 |
12,419 | 123,394 | 3,506 | 7,168 | 17,732 | 14,724 | 4,591 | 6,139 | 1,750 | 2,000 | 1,500 | |
| Income statement | ||||||||||||
9900 |
843,605 | 1.9m | 1.2m | 1.6m | 1.1m | 599,023 | 613,431 | 514,732 | 364,419 | 390,777 | 97,592 | |
62 |
1.3m | 1.5m | 933,499 | 1.0m | 811,843 | 510,549 | 302,126 | 235,934 | 104,512 | 60,009 | 3,502 | |
630 |
100,329 | 108,943 | 61,014 | 68,553 | 50,652 | 45,379 | 109,649 | 6,005 | 4,951 | 8,221 | 11,741 | |
631/4 |
140,748 | 39,186 | - | -35,000 | 45,000 | -51,635 | 51,635 | - | - | - | - | |
640/8 |
12,550 | 9,066 | 13,607 | 13,009 | 19,503 | 31,912 | 4,144 | 1,423 | 1,151 | 877 | 2,408 | |
66A |
- | - | - | - | - | - | 689 | - | - | - | - | |
9901 |
-750,690 | 178,874 | 162,703 | 489,946 | 207,669 | 62,819 | 145,189 | 271,369 | 253,804 | 321,670 | 79,940 | |
75/76B |
211,013 | 2,553 | 35 | 208 | 13 | 9,406 | 485 | 561 | 881 | 843 | 170 | |
75 |
211,013 | 2,553 | 35 | 208 | 13 | 9,406 | 485 | 561 | 881 | 843 | 170 | |
65/66B |
33,010 | 39,411 | 11,878 | 7,668 | 12,585 | 15,545 | 8,292 | 1,423 | 616 | 1,525 | 2,219 | |
65 |
33,010 | 39,411 | 11,878 | 7,668 | 12,585 | 15,545 | 8,292 | 1,423 | 616 | 1,525 | 2,219 | |
9903 |
-572,687 | 142,015 | 150,860 | 482,486 | 195,096 | 56,680 | 137,382 | 270,507 | 254,069 | 320,987 | 77,891 | |
67/77 |
3,642 | 52,388 | 48,385 | 132,009 | 33,026 | 22,802 | 36,012 | 100,989 | 87,382 | 104,683 | 25,687 | |
9904 |
-576,329 | 89,627 | 102,475 | 350,477 | 162,071 | 33,878 | 101,370 | 169,518 | 166,687 | 216,304 | 52,204 | |
689 |
- | - | - | - | - | 1,001 | - | - | - | 18,750 | - | |
9905 |
-576,329 | 89,627 | 102,475 | 350,477 | 162,071 | 32,877 | 101,370 | 169,518 | 166,687 | 197,554 | 52,204 | |
| Appropriation of the result | ||||||||||||
9906 |
-576,329 | 89,627 | 102,475 | 350,477 | 162,071 | 32,877 | 101,370 | 169,518 | 166,687 | 197,554 | 52,204 | |
791/2 |
513,973 | - | - | 136,461 | - | 188,000 | 165,500 | 266,250 | - | - | - | |
691/2 |
- | - | 102,475 | 350,477 | 62,071 | 32,877 | 101,370 | 188,268 | 165,187 | 197,554 | 52,204 | |
6920 |
- | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | 102,475 | 350,477 | 62,071 | 32,877 | 101,370 | 188,268 | 165,187 | 197,554 | 50,344 | |
694/7 |
- | 89,627 | - | 136,461 | 100,000 | 188,000 | 165,500 | 247,500 | 1,500 | - | - | |
694 |
- | 89,627 | - | 136,461 | - | 188,000 | 165,500 | 247,500 | - | - | - | |
695 |
- | - | - | - | 100,000 | - | - | - | 1,500 | - | - | |
| Social balance sheet | ||||||||||||
9087 |
18.4 | 14.2 | 14.5 | 16.7 | 13.7 | 10.4 | 6.9 | 4.7 | 4.5 | 1.6 | - | |
Hours worked1013 |
29,811 | 34,078 | 24,057 | 27,307 | 25,428 | 17,813 | 12,075 | 7,907 | 4,700 | 2,769 | - | |
| Document | ||||||||||||
The notes to these accounts have 17 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 13-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 13-07-2026 | 2026-00301659 | |
| 31-12-2024 | abbreviated format | 18-07-2025 | 2025-00284285 | |
| 30-06-2023 | abbreviated format | 20-10-2023 | 2023-00489213 | |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00011857 | |
| 30-06-2021 | abbreviated format | 20-10-2021 | 2021-72300253 | |
| 30-06-2020 | abbreviated format | 23-10-2020 | 2020-62700431 | |
| 30-06-2019 | abbreviated format | 20-01-2020 | 2020-01600419 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03500186 | |
| 30-06-2017 | micro format | 26-01-2018 | 2018-02400146 | |
| 30-11-2016 | abbreviated format | 27-03-2017 | 2017-07400334 | |
| 30-11-2015 | abbreviated format | 11-03-2016 | 2016-06300023 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €15,366 | €52,866 |
| 2024 | 2 | €9,000 | €21,500 |
| 2023 | 2 | €50,735 | €735 |
| 2022 | 1 | €252 | €252 |
| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | Defence | 1 | €51,996 |
| 2024 | Defence | 1 | €51,996 |
| 2023 | Defence | 1 | €103,992 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -650,361 | 287,817 | 223,718 | 558,498 | 258,321 | 108,197 | 254,838 | 277,375 | 258,755 | 329,891 | 91,681 | ||
| -476,000 | 198,570 | 163,489 | 419,029 | 212,723 | 79,257 | 211,019 | 175,523 | 171,638 | 224,525 | 63,945 | ||
| 32,621 | 563,176 | 20,542 | 91,731 | 116,298 | 77,824 | 494,085 | 5,236 | 0 | 19,392 | 15,785 | ||
| -165,633 | -27,002 | -120,658 | 102,803 | 31,945 | 9,811 | 12,239 | 50,398 | -16,536 | 142,423 | - | ||
| -202,061 | 428,771 | 474,668 | 370,635 | 191,819 | 201,368 | 253,514 | 368,583 | 441,407 | 259,119 | 53,485 | ||
| 1.0% | 29.9% | 52.4% | 35.1% | 26.2% | 22.9% | 30.6% | 66.6% | 74.2% | 62.0% | 56.3% | ||
| 0.84 | 1.45 | 1.97 | 1.47 | 1.24 | 1.40 | 1.69 | 3.03 | 3.84 | 2.56 | 2.22 | ||
| 99.18 | 2.35 | 0.91 | 1.85 | 2.81 | 3.37 | 2.27 | 0.50 | 0.35 | 0.61 | 0.78 | ||
| - | 15.1% | 17.3% | 71.6% | 51.3% | 13.2% | 32.7% | 45.3% | 36.9% | 78.7% | 89.4% | ||
| -36.4% | 4.5% | 9.1% | 25.1% | 13.5% | 3.0% | 10.0% | 30.2% | 27.3% | 48.8% | 50.3% | ||
| -19.70 | 7.30 | 18.83 | 72.84 | - | - | - | - | - | - | - |
A ratio outside any meaningful range has been withheld (balance sheet total €1.6m, equity €15,825).
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.
| Item | 31-12-2025 | 31-12-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 15 | 17 | 15 | 15 |
| full-time | 13 | 15 | 12 | 12 |
| part-time | 2 | 2 | 3 | 3 |
| in full-time equivalents | 14.5 | 16.5 | 14.3 | 14.4 |
| 18.4 | 14.2 | 14.5 | 16.7 | |
| On a permanent contract | 15 | 17 | 14 | 15 |
| Joined | 5 | 17 | 3 | 4 |
| Left | 7 | 15 | 3 | 8 |
| Training hours | 16 | 4 | - | 4 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €500,000 | €100,000 | - | - |
| €250,000 | €250,000 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €32,621 | €305,427 | €9,505 | €56,731 |
| Intangible fixed assets | - | - | - | €35,000 |
| Financial fixed assets | - | €257,749 | €11,037 | - |
| €100,329 | €108,943 | €61,014 | €68,553 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €750,690, after a profit of €178,874 in 2024. It is the lowest result since 2015.
Debt's share of the balance-sheet total rises from 70.1% to 99.0%. Equity is lower and debt is higher.
Further up the chainGeniki BV consolidates
Source: parent in its own accounts, lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| Traicie via CYLE, at CODEVID until 2023 · Director (not named in the articles) · deed of 27-07-2021 Open bankruptcy · founded in 2019 |
turnover €74,750 (2025) |
| Andy via CYLE, at CODEVID until 2023 · Director · deed of 18-06-2024 founded in 2024 |
1.4 FTE (2025) |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 19 December 2013, CODEVID was incorporated.1 The registered office moved to Sint-Goriks-Oudenhove in 2019, to Ghent in 2019 and to Gentbrugge in 2025.234 A capital increase in 2019 brought the capital to €118,600.3 Total assets went from €1.4m in 2022 to €1.6m in 2025 and headcount from 16.7 to 18.4 full-time equivalents.5
| Establishment | Since | Unit number |
|---|---|---|
| Kliniekstraat 27A registered office 9050 Ghent | 19-12-2013 | 2.225.652.627 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44362B0315/00X002 | 4,549 m² | - | - |
If something looks wrong or is missing, please tell us.