CODEWORKS
ActiveSummary
CODEWORKS has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €99k and a net result of €60k. Equity is growing by ~8% per year across the filed fiscal years. Its solvency ranks better than 65% of 15865 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+17
Solvency83▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 2.76 against 3.45 in 2023; short-term debt: 34.9% and cash: 45% of total assets), and 41.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-10-2025, 88 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
88 d late
2023
105 d late
2022
21 d late
2021
31 d late
2020
31 d early
2019
4 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€60k▲ 365%
2023 · €13k
2018: €-2klowest in 7 years
2019: €7k▲ +406% vs 2018
2020: €681▼ -90.2% vs 2019
2021: €-746▼ -210% vs 2020
2022: €2k▲ +380% vs 2021
2023: €13k▲ +516% vs 2022
2024: €60k▲ +365% vs 2023highest in 7 years
2018 → 2024
Working capital
€104k▲ 65.4%
2023 · €63k
2018: €26klowest in 7 years
2019: €41k▲ +55.5% vs 2018
2020: €43k▲ +6.7% vs 2019
2021: €41k▼ -6.2% vs 2020
2022: €46k▲ +13.5% vs 2021
2023: €63k▲ +36.7% vs 2022
2024: €104k▲ +65.4% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€55k-€54k▼ 1.4%€56k▲ 3.9%€69k▲ 22.9%€99k▲ 43.1%
2020: €55k
2021: €54k▼ -1.4% vs 2020lowest in 5 years
2022: €56k▲ +3.9% vs 2021
2023: €69k▲ +22.9% vs 2022
2024: €99k▲ +43.1% vs 2023highest in 5 years
Operating result€13k-€12k▼ 0.9%€8k▼ 32.7%€14k▲ 68.4%€64k▲ 350%
2020: €13k
2021: €12k▼ -0.9% vs 2020
2022: €8k▼ -32.7% vs 2021lowest in 5 years
2023: €14k▲ +68.4% vs 2022
2024: €64k▲ +350% vs 2023highest in 5 years
Net result€681-€-746€2k€13k▲ 516%€60k▲ 365%
2020: €681
2021: €-746▼ -210% vs 2020lowest in 5 years
2022: €2k▲ +380% vs 2021
2023: €13k▲ +516% vs 2022
2024: €60k▲ +365% vs 2023highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 350% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €170k
Fixed assets
€6k ▼ 75.0%
Current assets
€164k ▲ 84.2%
Equity and liabilities €170k
Equity
€99k ▲ 43.1%
Debt
€71k ▲ 58.0%
Debt's share of the balance-sheet total rises from 39.4% to 41.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€67k▲
2023 · €24k
Cash flow
€63k▲
2023 · €23k
Current ratio
2.76▼
2023 · 3.45
Debt to equity
0.72▲
2023 · 0.65
ROE
60.5%▲
2023 · 18.6%
ROA
35.2%▲
2023 · 11.3%
Interest coverage
47.52▲
2023 · 19.04
Debt ≤ 1 year
€59k▲
2023 · €26k
Debt > 1 year
€12k▼
2023 · €19k
Income taxes
€2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€114k€170k▲
Fixed assets21/28€25k€6k▼
Tangible fixed assets22/27€22k€3k▼
Furniture and vehicles24€21k€2k▼
Other tangible fixed assets26€1k€1k=
Financial fixed assets28€3k€3k=
Current assets29/58€89k€164k▲
Amounts receivable after more than one year29€25k€25k=
Trade receivables290€25k€25k=
Amounts receivable within one year40/41€30k€62k▲
Trade receivables40€200€10k▲
Other amounts receivable41€30k€52k▲
Cash at bank and in hand54/58€34k€76k▲
Equity and liabilities
Total equity and liabilities10/49€114k€170k▲
Equity10/15€69k€99k▲
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€61k€91k▲
Amounts payable17/49€45k€71k▲
Amounts payable after more than one year17€19k€12k▼
Financial debts170/4€19k€12k▼
Amounts payable within one year42/48€26k€59k▲
Current portion of amounts payable after more than one year42€7k€7k▲
Trade debts44€7k€10k▲
Suppliers440/4€7k€10k▲
Taxes, remuneration and social security45€12k€21k▲
Taxes450/3€12k€21k▲
Other amounts payable47/48-€21k
Income statement
Code20232024
Non-recurring operating income76A-€16k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€3k▼
Other operating charges640/8€232€5k▲
Non-recurring operating charges66A€8k-
Gross operating margin9900€32k€72k▲
Operating profit (loss)9901€14k€64k▲
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€13k€62k▲
Income taxes67/77-€2k
Profit (loss) for the period9904€13k€60k▲
Profit (loss) for the period to be appropriated9905€13k€60k▲
Appropriation of the result
Profit (loss) to be appropriated9906€61k€121k▲
Profit (loss) brought forward from the previous period14P€48k€61k▲
Profit to be distributed694/7-€30k
Return on contributions (dividend)694-€30k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €16k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €6k | €9k | €10k | €3k | ▼ 68.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €-7k | - | - | - |
| Other operating charges640/8 | - | €456 | €2k | €232 | €5k | ▲ 1,923% |
| Non-recurring operating charges66A | - | - | - | €8k | - | - |
| Gross operating margin9900 | €22k | €19k | €12k | €32k | €72k | ▲ 122% |
| Operating profit (loss)9901 | €13k | €12k | €8k | €14k | €64k | ▲ 350% |
| Financial income75/76B | - | €0 | - | - | - | - |
| Recurring financial income75 | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €369 | €534 | €1k | €1k | ▲ 9.9% |
| Recurring financial charges65 | €162 | €369 | €534 | €1k | €1k | ▲ 9.9% |
| Profit (loss) for the period before taxes9903 | €12k | €12k | €8k | €13k | €62k | ▲ 384% |
| Income taxes67/77 | €12k | €13k | €6k | - | €2k | - |
| Profit (loss) for the period9904 | €681 | €-746 | €2k | €13k | €60k | ▲ 365% |
| Profit (loss) for the period to be appropriated9905 | €681 | €-746 | €2k | €13k | €60k | ▲ 365% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €88k | €96k | €85k | €114k | €170k | ▲ 49.0% |
| Fixed assets21/28 | €11k | €23k | €13k | €25k | €6k | ▼ 75.0% |
| Intangible fixed assets21 | - | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €8k | €19k | €10k | €22k | €3k | ▼ 86.2% |
| Furniture and vehicles24 | - | €18k | €9k | €21k | €2k | ▼ 90.3% |
| Other tangible fixed assets26 | - | €1k | €1k | €1k | €1k | = |
| Financial fixed assets28 | €3k | €3k | €3k | €3k | €3k | = |
| Current assets29/58 | €77k | €73k | €72k | €89k | €164k | ▲ 84.2% |
| Amounts receivable after more than one year29 | - | €25k | €25k | €25k | €25k | = |
| Trade receivables290 | - | €25k | €25k | €25k | €25k | = |
| Amounts receivable within one year40/41 | €7k | €11k | €9k | €30k | €62k | ▲ 109% |
| Trade receivables40 | - | €6k | €200 | €200 | €10k | ▲ 5,038% |
| Other amounts receivable41 | - | €5k | €9k | €30k | €52k | ▲ 75.8% |
| Cash at bank and in hand54/58 | €45k | €37k | €37k | €34k | €76k | ▲ 124% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €88k | €96k | €85k | €114k | €170k | ▲ 49.0% |
| Equity10/15 | €55k | €54k | €56k | €69k | €99k | ▲ 43.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | - | €6k | - | - | - | - |
| Issued capital100 | - | €19k | - | - | - | - |
| Uncalled capital101 | - | €12k | - | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €47k | €46k | €48k | €61k | €91k | ▲ 48.8% |
| Amounts payable17/49 | €33k | €42k | €29k | €45k | €71k | ▲ 58.0% |
| Amounts payable after more than one year17 | - | €9k | €3k | €19k | €12k | ▼ 38.5% |
| Financial debts170/4 | - | €9k | €3k | €19k | €12k | ▼ 38.5% |
| Amounts payable within one year42/48 | €33k | €33k | €26k | €26k | €59k | ▲ 130% |
| Current portion of amounts payable after more than one year42 | - | €30k | €7k | €7k | €7k | ▲ 5.1% |
| Trade debts44 | €131 | €220 | €10k | €7k | €10k | ▲ 45.4% |
| Suppliers440/4 | - | €220 | €10k | €7k | €10k | ▲ 45.4% |
| Taxes, remuneration and social security45 | - | €2k | €8k | €12k | €21k | ▲ 76.3% |
| Taxes450/3 | - | €2k | €8k | €12k | €21k | ▲ 76.3% |
| Other amounts payable47/48 | - | - | - | - | €21k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €681 | €-746 | €2k | €13k | €60k | ▲ 365% |
| + Depreciation and write-downs630 | €8k | €6k | €9k | €10k | €3k | ▼ 68.2% |
| Operating cash flow (approximation) | €9k | €5k | €11k | €23k | €63k | ▲ 173% |
| Investment in fixed assets (approximation) | - | €-17k | €185 | €-22k | €16k | ▲ 171% |
| Change in cash | - | €-8k | €304 | €-3k | €42k | ▲ 1,393% |
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
2025
27-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 88 days late
2024
31-12
Financial
Highest result since 2018net €60k ▲365%
Operating result €64k, net result €60k, both a record.
13-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 105 days late
2023
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
2016
06-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Etterbeek · 1 establishment unit since 2006
Ground area
2,089 m²
Building footprint
555 m²
Volume, LiDAR
14,385 m³
2 parcels, Brussels · tallest building 34.0 m, ±10 floors. Linked by address, not a title deed.
334
companies at this address
See who is registered here
1 establishment unit
CODEWORKS
since 20062.153.097.518
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21019A0202/00X007 | Brussels | 1,764 m² | 1 · 426 m² | 34.0 m · 10 fl. |
| 21005A0542/00B006 | Brussels | 325 m² | 1 · 129 m² | 17.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,075 companies in sector 46140 we hold annual accounts for 645. 504 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 (pre-2019)
Founded14-03-2006
Fiscal year end31-12
Activities, NACEBEL 2025
46140Agents in the wholesale of industrial machinery, ships and aircraft
47400Retail sale of information and communication equipment
58290Other software publishing
62900Other information technology and computer services
95100Repair and maintenance of computers and communication equipment
Contact
Phone
0486/399727Sint-Pieters-Woluwe
Scores and ratios are computed by Checked and are not a credit decision.