Equity
CODEWORKS paid out €30,000 in dividends. That is 50% of the 2024 profit.
CODEWORKS paid out €30,000 in dividends. That is 50% of the 2024 profit.
2025 accounts not filed: deadline was 31-07-2026.
A confirmed filing finding caps the score at 59.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 6 in 1,000 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 46, micro). It does better than 65% of them on solvency, 85% on liquidity, 95% on profitability and 86% 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 31-12-2024.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 31,368 companies had the same profile as CODEWORKS has now. Each dot stands for 79 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CODEWORKS itself: 0.6% 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 31,368 companies, not a prediction for CODEWORKS. 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.
Liquidity is ample, with a current ratio of 2.76 (3.45 in 2023), above the usual 1.5. Short-term debt is 34.9% and cash 45% of total assets. 41.8% 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 6 accounts on average 35 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CODEWORKS Etterbeek | €169,948 | €71,596 | 58.2% | - |
| CEYSSENS E. Oudsbergen | €176,907 | €85,229 | 67.4% | - |
| Henk Carrijn Torhout | €212,574 | €64,223 | 24.4% | - |
| VAN DER AUWERMEULEN Wevelgem | €205,542 | €58,839 | 7.0% | - |
| Ammerlaan International Turnhout | €186,808 | €46,346 | 37.9% | - |
| ADBcomp Buggenhout | €214,931 | €95,649 | 83.5% | 1 |
| APB DISTRIBUTION Namur | €277,525 | €62,176 | 33.1% | - |
These companies have the same main activity as CODEWORKS: agents in the wholesale of industrial machinery, ships and aircraft (NACE 46140). They are comparable in size and age: total assets between €177,000 and €278,000, founded between 2004 and 2009.
CODEWORKS files the micro format. That format states no turnover. The gross margin rose from €19,805 in 2006 to €71,596 in 2024.
The balance sheet grew most from 2009 to 2011 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 10 November 2026.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €330,000. Estimated: probably between €170,000 and €780,000.
Amounts without an identifiable currency are taken as euros.
Higher than 65% of 15,428 companies in 2024.
Higher than 69% of 14,730 companies in 2024.
Higher than 93% of 14,947 companies in 2024.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
169,948 | 114,050 | 85,179 | 95,998 | 88,164 | 95,656 | 98,584 | 80,664 | 72,412 | 63,962 | 349,148 | 401,256 | 374,053 | 372,365 | 319,794 | 76,190 | 58,312 | 66,022 | 47,935 | |
21/28 |
6,302 | 25,194 | 13,465 | 22,621 | 11,490 | 13,523 | 21,451 | 11,082 | 3,218 | 6,293 | 329,482 | 338,347 | 315,654 | 272,304 | 234,111 | 29,713 | 18,772 | 25,011 | 30,075 | |
21 |
- | - | - | 0 | - | - | - | - | - | 468 | 2,338 | 4,208 | 6,078 | 7,948 | 9,818 | 11,688 | 13,558 | 15,428 | 17,298 | |
22/27 |
3,034 | 21,926 | 10,197 | 19,353 | 8,222 | 10,255 | 18,183 | 7,814 | 2,350 | 4,958 | 326,516 | 333,512 | 308,948 | 263,729 | 223,666 | 17,826 | 5,014 | 9,384 | 12,778 | |
22 |
- | - | - | - | - | - | - | - | - | - | 184,542 | 190,633 | 196,725 | 202,817 | 208,908 | - | - | - | - | |
23 |
- | - | - | - | - | - | - | - | - | - | 116,570 | 119,235 | 99,435 | 49,687 | - | - | - | - | - | |
24 |
2,034 | 20,926 | 9,197 | 18,353 | 7,222 | 9,255 | 17,183 | 6,814 | 1,350 | 3,958 | 11,855 | 10,093 | 6,613 | 7,226 | 10,758 | 13,826 | 1,014 | 9,384 | 12,778 | |
26 |
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 13,551 | 13,551 | 6,176 | 4,000 | 4,000 | 4,000 | 4,000 | - | - | |
28 |
3,268 | 3,268 | 3,268 | 3,268 | 3,268 | 3,268 | 3,268 | 3,268 | 868 | 868 | 628 | 628 | 628 | 628 | 628 | 200 | 200 | 200 | - | |
29/58 |
163,646 | 88,855 | 71,714 | 73,378 | 76,674 | 82,133 | 77,133 | 69,583 | 69,194 | 57,669 | 19,666 | 62,909 | 58,399 | 100,060 | 85,682 | 46,477 | 39,541 | 41,010 | 17,860 | |
29 |
24,921 | 24,921 | 24,921 | 24,921 | 24,921 | 24,921 | 31,631 | 32,716 | 37,691 | 32,000 | - | - | - | - | - | - | - | - | - | |
290 |
24,921 | 24,921 | 24,921 | 24,921 | 24,921 | 24,921 | 31,631 | 32,716 | 37,691 | 32,000 | - | - | - | - | - | - | - | - | - | |
40/41 |
62,293 | 29,787 | 9,375 | 11,342 | 7,051 | 14,726 | 22,931 | 33,554 | 30,283 | 23,589 | 19,666 | 45,741 | 54,594 | 97,800 | 74,357 | 32,658 | 28,111 | 11,483 | 11,784 | |
40 |
10,275 | 200 | 200 | 5,970 | 4,873 | 12,625 | 21,494 | 26,180 | 26,180 | 14,675 | 19,262 | 25,308 | 54,594 | 75,598 | 60,837 | 22,938 | 12,818 | 11,483 | 11,123 | |
41 |
52,018 | 29,587 | 9,175 | 5,372 | 2,178 | 2,101 | 1,437 | 7,374 | 4,102 | 8,914 | 404 | 20,433 | - | 22,202 | 13,520 | 9,721 | 15,293 | - | 661 | |
50/53 |
- | - | - | - | - | - | - | - | 1,123 | - | - | - | - | - | - | - | - | - | - | |
54/58 |
76,432 | 34,147 | 37,419 | 37,114 | 44,702 | 34,932 | 22,571 | 3,312 | - | 1,554 | - | 17,168 | 1,252 | 2,261 | 11,217 | 13,797 | 11,420 | 29,523 | 6,076 | |
490/1 |
- | - | - | - | - | 7,554 | - | - | 98 | 526 | - | - | 2,553 | - | 109 | 21 | 10 | 4 | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
169,948 | 114,050 | 85,179 | 95,998 | 88,164 | 95,656 | 98,584 | 80,664 | 72,412 | 63,962 | 349,148 | 401,256 | 374,053 | 372,365 | 319,794 | 76,190 | 58,312 | 66,022 | 47,935 | |
10/15 |
98,858 | 69,065 | 56,195 | 54,107 | 54,852 | 54,171 | 47,197 | 49,479 | 57,728 | 46,465 | 37,109 | 68,902 | 56,559 | 62,537 | 42,797 | 45,224 | 30,528 | 36,081 | 15,671 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | 6,200 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
90,798 | 61,005 | 48,135 | 46,047 | 46,792 | 46,111 | 39,137 | 41,419 | 49,668 | 38,405 | 29,049 | 60,842 | 48,499 | 54,477 | 34,737 | 37,164 | 22,468 | 28,021 | 7,611 | |
17/49 |
71,090 | 44,985 | 28,984 | 41,892 | 33,312 | 41,485 | 51,387 | 31,185 | 14,685 | 17,498 | 312,039 | 332,354 | 317,494 | 309,828 | 276,997 | 30,966 | 27,784 | 29,941 | 32,264 | |
17 |
11,816 | 19,214 | 3,419 | 9,173 | - | - | - | - | - | - | 277,946 | 268,510 | 280,823 | 276,525 | 228,544 | 15,166 | 8,570 | 3,272 | 6,579 | |
170/4 |
11,816 | 19,214 | 3,419 | 9,173 | - | - | - | - | - | - | 277,946 | 268,510 | 280,823 | 276,525 | 228,544 | 15,166 | 8,570 | 3,272 | 6,579 | |
42/48 |
59,274 | 25,771 | 25,565 | 32,719 | 33,312 | 41,485 | 51,000 | 30,799 | 14,298 | 16,798 | 33,085 | 63,844 | 36,671 | 33,270 | 48,453 | 15,800 | 18,660 | 26,669 | 25,492 | |
42 |
7,398 | 7,037 | 7,419 | 30,055 | 27,777 | 31,122 | 34,466 | 30,601 | - | - | 10,667 | 12,138 | 14,277 | 16,534 | 14,962 | 7,411 | 6,448 | 3,307 | 4,464 | |
43 |
- | - | - | - | - | - | - | - | 1,949 | - | 3,515 | - | - | 2,140 | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 1,949 | - | 3,515 | - | - | 2,140 | - | - | - | - | - | |
44 |
10,139 | 6,972 | 9,784 | 220 | 131 | - | 16,050 | - | 364 | 626 | 2,072 | 22,598 | 11,216 | 3,827 | 2,827 | 1,021 | 1,528 | 533 | 1,231 | |
440/4 |
10,139 | 6,972 | 9,784 | 220 | 131 | - | 16,050 | - | 364 | 626 | 2,072 | 22,598 | 11,216 | 3,827 | 2,827 | 1,021 | 1,528 | 533 | 1,231 | |
46 |
- | - | - | - | - | - | - | - | - | 6,199 | - | 12,524 | - | - | - | 1,596 | 303 | - | - | |
45 |
20,738 | 11,763 | 8,363 | 2,444 | 5,404 | 2,809 | 484 | 197 | 3,918 | - | 3,450 | 16,584 | 7,498 | 10,768 | 4,664 | 5,772 | 10,082 | 21,313 | 3,545 | |
450/3 |
20,738 | 11,763 | 8,363 | 2,444 | 5,404 | 2,809 | 484 | 197 | 3,918 | - | 3,450 | 16,584 | 7,498 | 10,768 | 4,664 | 5,772 | 10,082 | 21,313 | 3,545 | |
47/48 |
21,000 | - | - | - | - | 7,554 | - | - | 8,067 | 9,973 | 13,381 | - | 3,680 | - | 26,000 | - | 299 | 1,516 | 16,253 | |
492/3 |
- | - | - | - | - | - | 387 | 387 | 387 | 700 | 1,008 | - | - | 33 | - | - | 554 | - | 193 | |
| Income statement | ||||||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | 27,014 | 52,977 | 111,727 | 87,640 | 103,054 | 116,688 | 77,315 | 45,150 | 82,675 | 47,400 | |
76A |
15,619 | - | - | - | - | - | - | - | - | 62,048 | 1,800 | 50 | - | - | 1,596 | - | - | - | - | |
9900 |
71,596 | 32,291 | 12,274 | 18,601 | 21,846 | 19,631 | 9,914 | -5,057 | 20,151 | -8,886 | 5,209 | 72,075 | 42,144 | 52,094 | 71,466 | 29,053 | 9,831 | 35,831 | 19,805 | |
60/61 |
- | - | - | - | - | - | - | - | - | 35,899 | 47,767 | 41,398 | 45,496 | 53,307 | 46,642 | 49,927 | 36,049 | 48,275 | 28,998 | |
630 |
3,254 | 10,227 | 8,971 | 5,652 | 8,400 | 7,928 | 6,490 | 2,789 | 3,075 | 4,926 | 23,860 | 24,911 | 28,307 | 18,335 | 40,362 | 7,307 | 3,885 | 6,709 | 5,570 | |
631/4 |
- | - | -7,125 | - | - | - | - | - | - | 7,125 | - | 2,700 | - | - | 2,700 | - | - | - | - | |
640/8 |
4,694 | 232 | 2,027 | 456 | 839 | - | 5,139 | - | 1,110 | 9,496 | 150 | - | 1,951 | - | 3,410 | - | 1,605 | - | 701 | |
66A |
- | 7,682 | - | - | - | - | - | - | - | - | 160 | 220 | 306 | - | 50 | - | 80 | 340 | - | |
9901 |
63,648 | 14,150 | 8,401 | 12,493 | 12,607 | 11,702 | -1,715 | -7,845 | 15,965 | -30,434 | -18,800 | 44,465 | 11,887 | 33,759 | 24,994 | 21,746 | 4,341 | 29,122 | 13,534 | |
75/76B |
- | - | - | 0 | - | - | 1 | - | - | 855 | 6 | 19 | 2,508 | 1,515 | 1,091 | 524 | 174 | 87 | 56 | |
75 |
- | - | - | 0 | - | - | 1 | - | - | 855 | 6 | 19 | 2,508 | 1,515 | 1,091 | 524 | 174 | 87 | 56 | |
65/66B |
1,408 | 1,280 | 534 | 369 | 162 | 1,119 | 281 | 207 | 713 | 16,552 | 14,638 | 13,742 | 14,597 | 10,532 | 4,486 | 1,573 | 1,235 | 834 | 566 | |
65 |
1,408 | 1,280 | 534 | 369 | 162 | 1,119 | 281 | 207 | 713 | 16,552 | 14,638 | 13,742 | 14,597 | 10,532 | 4,486 | 1,573 | 1,235 | 834 | 566 | |
9903 |
62,240 | 12,870 | 7,867 | 12,123 | 12,445 | 10,583 | -1,995 | -8,052 | 15,253 | 15,917 | -31,792 | 30,572 | -508 | 24,742 | 23,145 | 20,698 | 3,200 | 28,035 | 13,025 | |
67/77 |
2,447 | - | 5,779 | 12,869 | 11,765 | 3,608 | 287 | 197 | 3,990 | 6,562 | - | 18,230 | 5,469 | 5,002 | -428 | 6,002 | 753 | 7,625 | 3,553 | |
9904 |
59,793 | 12,870 | 2,088 | -746 | 681 | 6,974 | -2,282 | -8,249 | 11,263 | 9,356 | -31,792 | 12,342 | -5,977 | 19,740 | 23,573 | 14,696 | 2,447 | 20,409 | 9,471 | |
9905 |
59,793 | 12,870 | 2,088 | -746 | 681 | 6,974 | -2,282 | -8,249 | 11,263 | 9,356 | -31,792 | 12,342 | -5,977 | 19,740 | 23,573 | 14,696 | 2,447 | 20,409 | 9,471 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
120,798 | 61,005 | 48,135 | 46,047 | 46,792 | 46,111 | 39,137 | 41,419 | 49,668 | 38,405 | 29,049 | 60,842 | 48,499 | 54,477 | 60,737 | 37,164 | 30,468 | 28,021 | 9,471 | |
14P |
61,005 | 48,135 | 46,047 | 46,792 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
30,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | 26,000 | - | 8,000 | - | - | |
694 |
30,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | 26,000 | - | 8,000 | - | - | |
| Document | ||||||||||||||||||||
The notes to these accounts have 9 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 2024 (PDF), filed on 27-10-2025.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 27-10-2025 | 2025-00559783 | |
| 31-12-2023 | micro format | 13-11-2024 | 2024-00600059 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00337095 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20396615 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-29200477 | |
| 31-12-2019 | full format | 27-07-2020 | 2020-36100046 | |
| 31-12-2018 | full format | 12-07-2019 | 2019-34100125 | |
| 31-12-2017 | full format | 22-07-2018 | 2018-38400359 | |
| 31-12-2016 | full format | 23-08-2017 | 2017-46600448 | |
| 31-12-2015 | full format | 06-07-2016 | 2016-28600281 | |
| 31-12-2014 | full format | 22-07-2015 | 2015-33700205 | |
| 31-12-2013 | full format | 18-07-2014 | 2014-32500332 | |
| 31-12-2012 | full format | 30-08-2013 | 2013-55500226 | |
| 31-12-2011 | full format | 28-08-2012 | 2012-48700105 | |
| 31-12-2010 | full format | 31-08-2011 | 2011-50300546 | |
| 31-12-2009 | full format | 31-08-2010 | 2010-52300400 | |
| 31-12-2008 | full format | 31-08-2009 | 2009-71000192 | |
| 31-12-2007 | full format | 13-08-2008 | 2008-56400280 | |
| 31-12-2006 | full format | 06-09-2007 | 2007-71700159 |
| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 66,902 | 24,377 | 17,372 | 18,145 | 21,007 | 19,631 | 4,775 | -5,057 | 19,041 | -25,507 | 5,059 | 69,375 | 40,194 | 52,094 | 65,356 | 29,053 | 8,226 | 35,831 | 19,104 | ||
| 63,047 | 23,097 | 11,059 | 4,907 | 9,081 | 14,903 | 4,208 | -5,460 | 14,338 | 14,282 | -7,933 | 37,253 | 22,329 | 38,075 | 63,935 | 22,003 | 6,332 | 27,119 | 15,042 | ||
| 1,321 | 29,639 | 267 | 19,755 | 6,367 | 0 | 16,860 | 10,652 | 0 | 240 | 14,995 | 47,604 | 71,656 | 56,528 | 244,760 | 18,248 | 4,000 | 1,645 | 35,646 | ||
| 42,285 | -3,271 | 304 | -7,588 | 9,770 | 12,361 | 19,259 | - | - | - | - | 15,915 | -1,008 | -8,956 | -2,581 | 2,378 | -18,103 | 23,447 | - | ||
| 104,371 | 63,084 | 46,149 | 40,659 | 43,362 | 40,648 | 26,132 | 38,784 | 54,896 | 40,871 | -13,419 | -936 | 21,728 | 66,790 | 37,230 | 30,677 | 20,880 | 14,341 | -7,632 | ||
| - | - | - | - | - | - | - | - | - | - | -35.5% | 39.8% | 13.6% | 32.8% | 21.4% | 28.1% | 9.6% | 35.2% | 28.6% | ||
| 58.2% | 60.6% | 66.0% | 56.4% | 62.2% | 56.6% | 47.9% | 61.3% | 79.7% | 72.6% | 10.6% | 17.2% | 15.1% | 16.8% | 13.4% | 59.4% | 52.4% | 54.6% | 32.7% | ||
| 2.76 | 3.45 | 2.81 | 2.24 | 2.30 | 1.98 | 1.51 | 2.26 | 4.84 | 3.43 | 0.59 | 0.99 | 1.59 | 3.01 | 1.77 | 2.94 | 2.12 | 1.54 | 0.70 | ||
| 0.72 | 0.65 | 0.52 | 0.77 | 0.61 | 0.77 | 1.09 | 0.63 | 0.25 | 0.38 | 8.41 | 4.82 | 5.61 | 4.95 | 6.47 | 0.68 | 0.91 | 0.83 | 2.06 | ||
| 60.5% | 18.6% | 3.7% | -1.4% | 1.2% | 12.9% | -4.8% | -16.7% | 19.5% | 20.1% | -85.7% | 17.9% | -10.6% | 31.6% | 55.1% | 32.5% | 8.0% | 56.6% | 60.4% | ||
| 35.2% | 11.3% | 2.5% | -0.8% | 0.8% | 7.3% | -2.3% | -10.2% | 15.6% | 14.6% | -9.1% | 3.1% | -1.6% | 5.3% | 7.4% | 19.3% | 4.2% | 30.9% | 19.8% | ||
| 47.52 | 19.04 | 32.52 | 49.15 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | 198 days | 133 days | 83 days | 227 days | 268 days | 190 days | 108 days | 104 days | 51 days | 86 days | ||
| - | - | - | - | - | - | - | - | - | 6 days | 16 days | 199 days | 90 days | 26 days | 22 days | 7 days | 15 days | 4 days | 15 days |
EBIT margin: not included in this filing.
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 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €1,321 | €29,639 | €267 | €19,755 |
| €3,254 | €10,227 | €8,971 | €5,652 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
The operating result for 2024 is 4.5 times that of 2023 and the highest since 2006. It is the second rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total rises from 39.4% to 41.8%. Equity and debt are higher.
CODEWORKS has no parent and no holdings in its annual accounts. Symoens Peter is the only director. CODEWORKS shares no director with another company.
| BRUSSELS AIRPORT COMPANY
registered office since 14-06-2007 · founded in 2007 · group Brussels Airport Investments |
1,150 FTE (2025) 0890.082.292 |
| Smartfin Capital II
registered office since 21-11-2019 · founded in 2019 |
total assets €90.4m (2025) 0737.910.771 |
| Smartfin Capital III
registered office since 07-04-2023 · founded in 2023 |
total assets €71.4m (2025) 0800.554.064 |
| EUROPESE PARTICIPATIEMAATSCHAPPIJ
registered office since 07-08-2018 · founded in 2018 |
total assets €40.0m (2025) 0700.712.657 |
| Smartfin Ventures II
registered office since 23-12-2020 · founded in 2020 |
total assets €29.1m (2025) 0760.460.402 |
| KIKO BELGIQUE
registered office since 14-11-2014 · founded in 2014 |
151 FTE (2025) 0567.806.821 |
| SMARTFIN VENTURES, IN VEREFFENING
registered office since 20-02-2017 · founded in 2017 |
total assets €18.7m (2025) 0671.644.727 |
| INTEGRATECH
registered office since 06-01-2010 · founded in 2010 |
26 FTE (2025) 0821.939.101 |
| INTERNATIONAL AEROSPACE QUALITY GROUP
registered office since 08-01-2014 · founded in 2014 · accounts filed late |
total assets €8.5m (2023) 0543.909.583 |
| EST Real Estate
registered office since 29-03-1990 · founded in 1990 |
total assets €6.7m (2026) 0440.581.324 |
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Priester Cuypersstraat 3 registered office 1040 Etterbeek | ||
| Tervurenlaan 200 1150 Woluwe-Saint-Pierre 4614005 Agents in the wholesale of industrial machinery, ships and aircraft | 20-04-2006 | 2.153.097.518 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21019A0202/00X007 | 1,764 m² | 1 · 426 m² | 34.0 m · 10 |
| 21005A0542/00B006 | 325 m² | 1 · 129 m² | 17.0 m · 5 |
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