Equity
€62,925 ▼ 9.8%
CodeWaves paid out €51,000 in dividends. That is 115% of the 2025 profit.
CodeWaves
Overview
Lifetime
9 annual accounts with figures on one time axis, 10 filings since 2016peak €86,423 (2023)
€72,382▼ 9.2%
peak €60,841 (2023)
€44,191▼ 12.5%
peak €131,634 (2019)
€62,925▼ 9.8%
€54,662▼ 39.3%
Board2 names since 2016
1 director
Documentsfilings and deeds
29-12-2025122 days before the deadline
2025micro format
Dividend €51,000Debts from €90,126 to €54,662Cash from €90,799 to €49,781
Key points
from the 2025 annual accountsChecked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as CodeWaves has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
Test of the method
The method was tested on the 497,448 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 34,693 companies, not a prediction for CodeWaves. 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.
Credit verdict
Credit check for an amount and term of your choice
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.
Signals
Recent changes
Company renamed from THE CODE BAKERY to CodeWaves
Appointment: (director) · “De vennootschap heeft tot voorwerp: - Het ontwerpen en ontwikkelen van software voor computer, web-en mobiele…” (deed in Dutch) · General meeting of 28-04-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0646983268
Change of role: , from manager to director
General meeting of 20-06-2023 · Gazette deed
Incorporation
published on 28-01-2016 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CodeWaves Rumst | €117,586 | €72,382 | 53.5% | - |
| GLENN DIERCKX Brasschaat | €114,478 | €68,187 | 5.2% | - |
| Ad-IT Consulting Beerse | €112,155 | €67,947 | 4.5% | - |
| Plutus Edegem | €105,717 | €79,393 | 25.5% | - |
| ARANEA Antwerp | €130,865 | €81,494 | 17.8% | - |
| SMARTWINKLE Beauvechain | €120,912 | €66,839 | 20.9% | - |
| B.A. ICT Grimbergen | €123,809 | €66,329 | 52.5% | - |
These companies have the same main activity as CodeWaves: computer programming (NACE 62100). They are comparable in size and age: total assets between €106,000 and €131,000, founded between 2014 and 2017.
Official details
Source: KBO- Status
- Active since 26-01-2016Normal situation
- Activity
- Computer programmingNACE 62100and 3 others
- Establishment unit
- 2.249.805.0332840 Rumst, since 26-01-2016
- Financial year end
- 30 September
- Peppol
- Reachable since 26-09-2025
Annual accounts to 30-09-2025
- €72,382▼ 9.2%
- €44,191▼ 12.5%
- €62,925▼ 9.8%
- €117,586▼ 26.4%
- Filing
- Filed on 29-12-2025, 122 days before the end of the filing period
Insights on CodeWaves
CodeWaves files the micro format. That format states no turnover. The gross margin rose from €45,770 in 2017 to €72,382 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 29-12-2025, 122 days before the deadline€72,382
▼ 9.2%
€59,951
▼ 11.1%
€44,191
▼ 12.5%
€41,324
▼ 12.9%
53.5%
▲ 9.9 percentage points
1.88
▲ 0.24
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €170,000. Estimated: probably between €140,000 and €220,000.
Balance sheet
balance sheet total €117,586 on 30-09-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
53.5%
Higher than 44% of 21,217 companies in 2025.
1.88
Higher than 41% of 20,581 companies in 2025.
37.6%
Higher than 76% of 20,756 companies in 2025.
CodeWaves
Middle half of the sector
80% of the sector
Micro accounts in computer programming and consultancy (NACE 62)
Net result: middle half · 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 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
117,586 | 159,860 | 175,403 | 92,568 | 80,379 | 80,389 | 167,284 | 130,752 | 93,435 | |
21/28 |
29,134 | 37,927 | 49,533 | 10,427 | 5,432 | 5,410 | 600 | 600 | 731 | |
22/27 |
28,339 | 37,327 | 48,933 | 9,827 | 4,832 | 4,810 | - | - | 131 | |
23 |
2,250 | - | - | - | 844 | 1,688 | - | - | 131 | |
24 |
26,089 | 37,317 | 48,608 | 8,496 | 2,602 | 3,121 | - | - | - | |
26 |
- | 10 | 324 | 1,331 | 1,386 | - | - | - | - | |
28 |
795 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | |
29/58 |
88,452 | 121,933 | 125,870 | 82,141 | 74,947 | 74,979 | 166,684 | 130,152 | 92,704 | |
40/41 |
38,034 | 31,134 | 24,646 | 19,696 | 23,186 | 22,017 | 27,278 | 13,310 | 19,360 | |
40 |
31,158 | 29,657 | 24,382 | 16,910 | 23,186 | 21,296 | 20,630 | 13,310 | 19,360 | |
41 |
6,876 | 1,477 | 265 | 2,786 | - | 721 | 6,648 | - | - | |
50/53 |
- | - | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
54/58 |
49,781 | 90,799 | 95,387 | 57,445 | 46,761 | 47,962 | 134,407 | 111,210 | 68,344 | |
490/1 |
637 | - | 837 | - | - | - | - | 632 | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
117,586 | 159,860 | 175,403 | 92,568 | 80,379 | 80,389 | 167,284 | 130,752 | 93,435 | |
10/15 |
62,925 | 69,734 | 82,250 | 57,409 | 21,627 | 21,262 | 131,634 | 103,132 | 68,796 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | |
11 |
- | - | - | - | - | 18,600 | - | - | - | |
1100/10 |
- | - | - | - | - | 18,600 | - | - | - | |
13 |
44,325 | 51,134 | 63,650 | 38,809 | 3,027 | 2,662 | 113,034 | 84,532 | 50,196 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | - | - | - | - | |
1319 |
- | - | - | - | - | 1,860 | - | - | - | |
133 |
44,325 | 51,134 | 63,650 | 36,949 | 1,167 | 802 | 111,174 | 82,672 | 48,336 | |
17/49 |
54,662 | 90,126 | 93,152 | 35,159 | 58,752 | 59,126 | 35,651 | 27,620 | 24,639 | |
17 |
4,253 | 12,654 | 20,915 | - | - | - | - | - | - | |
170/4 |
4,253 | 12,654 | 20,915 | - | - | - | - | - | - | |
42/48 |
47,129 | 74,486 | 70,767 | 35,159 | 55,644 | 58,430 | 35,067 | 27,489 | 24,413 | |
42 |
8,401 | 8,261 | 8,124 | - | - | - | - | - | - | |
43 |
- | 1 | - | - | - | - | - | - | - | |
430/8 |
- | 1 | - | - | - | - | - | - | - | |
44 |
3,284 | 3,283 | 4,327 | 2,834 | 2,167 | 2,075 | 1,570 | 892 | 702 | |
440/4 |
3,284 | 3,283 | 4,327 | 2,834 | 2,167 | 2,075 | 1,570 | 892 | 702 | |
45 |
9,492 | 8,615 | 7,854 | 8,773 | 8,809 | 8,036 | 7,992 | 22,924 | 20,815 | |
450/3 |
9,492 | 8,615 | 7,854 | 8,773 | 8,809 | 8,036 | 7,992 | 22,924 | 20,815 | |
47/48 |
25,953 | 54,326 | 50,463 | 23,552 | 44,668 | 48,318 | 25,505 | 3,673 | 2,895 | |
492/3 |
3,279 | 2,986 | 1,470 | - | 3,108 | 696 | 584 | 131 | 226 | |
| Income statement | ||||||||||
76A |
- | - | 10,000 | - | - | - | - | - | - | |
9900 |
72,382 | 79,701 | 86,423 | 52,165 | 43,486 | 54,392 | 38,257 | 50,560 | 45,770 | |
630 |
11,649 | 11,605 | 7,736 | 3,664 | 3,829 | 2,130 | - | 131 | 525 | |
640/8 |
782 | 686 | 932 | 935 | 926 | 758 | 950 | 842 | 789 | |
9901 |
59,951 | 67,410 | 77,755 | 47,566 | 38,731 | 51,504 | 37,307 | 49,586 | 44,456 | |
75/76B |
0 | 158 | 158 | 158 | 158 | 158 | 158 | 158 | - | |
75 |
0 | 158 | 158 | 158 | 158 | 158 | 158 | 158 | - | |
65/66B |
3,656 | 3,560 | 1,836 | 108 | 623 | 754 | 611 | 189 | 308 | |
65 |
3,656 | 3,560 | 1,836 | 108 | 623 | 754 | 611 | 189 | 308 | |
9903 |
56,295 | 64,007 | 76,077 | 47,615 | 38,265 | 50,908 | 36,854 | 49,554 | 44,148 | |
67/77 |
12,104 | 13,523 | 15,235 | 10,233 | 8,901 | 11,279 | 8,352 | 15,219 | 13,598 | |
9904 |
44,191 | 50,484 | 60,841 | 37,382 | 29,364 | 39,629 | 28,502 | 34,336 | 30,550 | |
9905 |
44,191 | 50,484 | 60,841 | 37,382 | 29,364 | 39,629 | 28,502 | 34,336 | 30,550 | |
| Appropriation of the result | ||||||||||
9906 |
44,191 | 50,484 | 60,841 | 37,382 | 29,364 | 39,629 | 28,502 | 34,336 | 30,550 | |
791/2 |
51,000 | 63,000 | 36,000 | - | - | 111,000 | - | - | - | |
691/2 |
44,191 | 50,484 | 60,841 | 35,782 | 364 | 629 | 28,502 | 34,336 | 30,550 | |
6921 |
44,191 | 50,484 | 60,841 | 35,782 | 364 | 629 | 28,502 | 34,336 | 30,550 | |
694/7 |
51,000 | 63,000 | 36,000 | 1,600 | 29,000 | 150,000 | - | - | - | |
694 |
51,000 | 63,000 | 36,000 | 1,600 | 29,000 | 150,000 | - | - | - | |
| Document | ||||||||||
The accounts for financial year 2016 were filed as a document without figures as data, a scan for example.
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 29-12-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 29-12-2025 | 2025-00591320 | |
| 30-09-2024 | micro format | 24-12-2024 | 2024-00624117 | |
| 30-09-2023 | micro format | 10-01-2024 | 2024-00546247 | |
| 30-09-2022 | micro format | 27-01-2023 | 2023-00006134 | |
| 30-09-2021 | micro format | 10-01-2022 | 2022-00500304 | |
| 30-09-2020 | micro format | 08-01-2021 | 2021-00400514 | |
| 30-09-2019 | micro format | 15-01-2020 | 2020-01000565 | |
| 30-09-2018 | micro format | 28-12-2018 | 2018-75800009 | |
| 30-09-2017 | micro format | 27-12-2017 | 2017-72900199 | |
| 30-09-2016 | micro format | 09-01-2017 | 2017-00400461 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 71,599 | 79,015 | 85,492 | 51,230 | 42,560 | 53,634 | - | 49,718 | 44,981 | ||
| 55,840 | 62,089 | 68,578 | 41,046 | 33,193 | 41,758 | - | 34,467 | 31,075 | ||
| 3,455 | 0 | 46,842 | 8,659 | 3,851 | 6,939 | - | 0 | - | ||
| -41,018 | -4,588 | 37,942 | 10,684 | -1,201 | -86,444 | 23,197 | 42,866 | - | ||
| 41,324 | 47,447 | 55,103 | 46,982 | 19,303 | 16,549 | 131,617 | 102,663 | 68,291 | ||
| 53.5% | 43.6% | 46.9% | 62.0% | 26.9% | 26.4% | 78.7% | 78.9% | 73.6% | ||
| 1.88 | 1.64 | 1.78 | 2.34 | 1.35 | 1.28 | 4.75 | 4.73 | 3.80 | ||
| 0.87 | 1.29 | 1.13 | 0.61 | 2.72 | 2.78 | 0.27 | 0.27 | 0.36 | ||
| 70.2% | 72.4% | 74.0% | 65.1% | 135.8% | 186.4% | 21.7% | 33.3% | 44.4% | ||
| 37.6% | 31.6% | 34.7% | 40.4% | 36.5% | 49.3% | 17.0% | 26.3% | 32.7% | ||
| 19.59 | 22.19 | 46.56 | over 100 | - | - | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,660 | - | €46,842 | €8,659 |
| Financial fixed assets | €795 | - | - | - |
| €11,649 | €11,605 | €7,736 | €3,664 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on CodeWaves
The operating result for 2025 is 11% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 56.4% to 46.5%. Equity and debt are lower.
Board & ownership
Board
2 directors, last change in May 2026Director (not named in the articles)
since 26-01-2016
term for the life of the company
earlier manager, until 27-06-2023
listed in the 2025 annual accounts, filed on 29-12-2025
Director (not named in the articles)
appointed by deed of 05-05-2026
term for the life of the company
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- “De heer , wonende te 2840 Rumst, Molenstraat 213. Zijn bezoldiging zal jaarlijks het voorwerp uitmaken van een goedkeuring door de algemene…”deed of 05-05-2026
Mandates through the years
2 names, the dashed line is todayDirector (not named in the articles)
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
-
- Director (not named in the articles), from 26-01-2016 to date
- Manager, until 27-06-2023
-
- Director (not named in the articles), appointed by deed of 05-05-2026, still in office
Control
Capital
- Contribution
- €18,600
- Source
- 2025 annual accounts
Articles of association
deed of 27-06-2023 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- “6. JAARVERGADERING Ieder jaar wordt een gewone algemene vergadering van aandeelhouders gehouden op de zetel of op een in de oproeping aan te…”
Network & group
No group
CodeWaves has no parent and no holdings in its annual accounts. CodeWaves shares no director with another company.
Timeline
Timeline
17 events since 2016Board
Filings
Financial
Establishments
201620182020202220242026
Deadline for the 2026 accounts: 30-04-2027
2026
Company renamed from THE CODE BAKERY to CodeWavesAppointment: (director) · “De vennootschap heeft tot voorwerp: - Het ontwerpen en ontwikkelen van software voor computer, web-en mobiele…” (deed in Dutch) · General meeting of 28-04-20264 points ▸
- General meeting, 28-04-2026
- Purpose change, “De vennootschap heeft tot voorwerp: - Het ontwerpen en ontwikkelen van software voor computer, web-en mobiele toepassingen. Gegevensverwerking, webhosting en aa…” (deed in Dutch)
- Name change, CodeWaves
- Director appointment, (director (not named in the articles))
2025
Annual accounts 2025 filed PDFmicro format · 122 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0646983268
2024
Annual accounts 2024 filed PDFmicro format · 127 days before the deadline
Annual accounts 2023 filed PDFmicro format · 111 days before the deadline
2023
Highest result from 2017 to 2025 net €60,841 ▲62.8% The operating result of €77,755 and the net result of €60,841 are both a record.
Change of role: , from manager to directorGeneral meeting of 20-06-20233 points ▸
- General meeting, 20-06-2023
- Director resignation, (manager)
- Director appointment, (director (not named in the articles))
- The deed holds 1 more point.
Annual accounts 2022 filed PDFmicro format · 93 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 110 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 112 days before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 106 days before the deadline
2018
Annual accounts 2018 filed PDFmicro format · 123 days before the deadline
Equity above €100,000 equity €103,132 ▲49.9% With a profit in every financial year since 2017, equity grows to €103,132.
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0646.983.268
- VAT number
- BE 0646.983.268
- Peppol ID
- 0208:0646983268
- Other Peppol ID
- 9925:BE0646983268
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 26-01-2016
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- “6. JAARVERGADERING Ieder jaar wordt een gewone algemene vergadering van aandeelhouders gehouden op de zetel of op een in de oproeping aan te…”deed of 27-06-2023 (in Dutch)
- Peppol
- Reachable since 26-09-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- CodeWaves in Dutch
- Former name
- THE CODE BAKERY until the deed of 05-05-2026
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 27-06-2023 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 27-06-2023 (in Dutch)
Activities
NACEBEL 202562100
Computer programming main activity
Codes under NACEBEL 2008
62010
Computer programming, consultancy and related activities main activity
47410
Retail trade
62020
IT consultancy
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Ontwerpen en ontwikkelen van software voor computer,web en mobiele toepassingen; Het verstrekken van advies en opleidingen voor deze…”deed of 27-06-2023 (in Dutch)
8 activities
- Ontwerpen en ontwikkelen van software voor computer,web en mobiele toepassingen.
- Het verstrekken van advies en opleidingen voor deze toepassingen.
- Gegevensverwerking,Webhosting en aanverwante activiteiten,webportalen.
- Adviesverlening en opleidingen in audiovisuele sector.
- Handel van hard en software,randapparatuur en aanverwante artikelen.
- Handel in audio en videoapparatuur.
- Het beheer van roerende en onroerende goederen.
- Het waarnemen van mandaten en functies in andere vennootschappen.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Molenstraat 213 registered office 2840 Rumst | 26-01-2016 | 2.249.805.033 |
Buildings and parcels at the address
- Ground area
- 1,614 m²
- Buildings
- 129 m²
- Volume, LiDAR
- 753 m³
- Tallest building
- 11.5 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11036D0198/00N000 | 1,614 m² | 1 · 129 m² | 11.5 m · 2 |