Codex
ActiveSummary
Codex has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,822 and a net result of €8,462. Equity is growing by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 27% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+28
Solvency54▼-13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity tight (current ratio 1.36 against 1.57 in 2024; short-term debt: 70.4% and cash: 68.4% of total assets), and 71% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
29%
Return on assets
15.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
on the day
2024
6 d early
2023
40 d early
2022
31 d early
2021
10 d late
2020
4 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€15,822▼ 49.1%
2024 · €31,058
Total assets
€54,489▼ 26.6%
2024 · €74,259
Net result
€8,462▲ 669%
2024 · €1,100
Working capital
€13,937▼ 6.8%
2024 · €14,961
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€25,010▲ 1,978%€10,018▼ 59.9%€16,466▲ 64.4%€12,094▼ 26.6%€17,978▲ 48.7%
Net result€18,277▲ 2,034%€5,918▼ 67.6%€5,306▼ 10.3%€1,100▼ 79.3%€8,462▲ 669%
Equity€20,334▲ 612%€25,452▲ 25.2%€29,958▲ 17.7%€31,058▲ 3.7%€15,822▼ 49.1%
Total assets€32,538▲ 782%€91,045▲ 180%€52,003▼ 42.9%€74,259▲ 42.8%€54,489▼ 26.6%
Debt€12,204▲ 1,368%€65,593▲ 437%€22,046▼ 66.4%€43,201▲ 96.0%€38,667▼ 10.5%
Working capital€13,266▲ 718%€3,534▼ 73.4%€23,959▲ 578%€14,961▼ 37.6%€13,937▼ 6.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 49% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €54,489
Fixed assets
€2,195 ▼ 93.3%
Current assets
€52,294 ▲ 26.7%
Equity and liabilities €54,489
Equity
€15,822 ▼ 49.1%
Debt
€38,667 ▼ 10.5%
Debt's share of the balance-sheet total rises from 58.2% to 71.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€20,372▲
2024 · €16,464
Cash flow
€10,857▲
2024 · €5,471
Current ratio
1.36▼
2024 · 1.57
Debt to equity
2.44▲
2024 · 1.39
ROE
53.5%▲
2024 · 3.5%
ROA
15.5%▲
2024 · 1.5%
Interest coverage
3.84▲
2024 · 2.58
Debt ≤ 1 year
€38,357▲
2024 · €26,305
Debt > 1 year
€0▼
2024 · €16,469
Income taxes
€4,217▼
2024 · €4,614
Staff costs
€21,572▼
2024 · €22,806
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €11,509 | €18,100 | €22,806 | €21,572 | ▼ 5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,040 | €4,520 | €2,236 | €4,371 | €2,394 | ▼ 45.2% |
| Other operating charges640/8 | €192 | €102 | €1,235 | €710 | €618 | ▼ 13.0% |
| Non-recurring operating charges66A | - | - | €6,680 | €0 | €5,824 | - |
| Gross operating margin9900 | €26,241 | €26,149 | €44,718 | €39,981 | €48,387 | ▲ 21.0% |
| Operating profit (loss)9901 | €25,010 | €10,018 | €16,466 | €12,094 | €17,978 | ▲ 48.7% |
| Financial income75/76B | - | - | €8 | €4 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €8 | €4 | €0 | ▼ 100% |
| Financial charges65/66B | €466 | €1,940 | €6,732 | €6,384 | €5,299 | ▼ 17.0% |
| Recurring financial charges65 | €466 | €1,940 | €6,732 | €6,384 | €5,299 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | €24,544 | €8,078 | €9,741 | €5,714 | €12,679 | ▲ 122% |
| Income taxes67/77 | €6,267 | €2,159 | €4,435 | €4,614 | €4,217 | ▼ 8.6% |
| Profit (loss) for the period9904 | €18,277 | €5,918 | €5,306 | €1,100 | €8,462 | ▲ 669% |
| Profit (loss) for the period to be appropriated9905 | €18,277 | €5,918 | €5,306 | €1,100 | €8,462 | ▲ 669% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €32,538 | €91,045 | €52,003 | €74,259 | €54,489 | ▼ 26.6% |
| Fixed assets21/28 | €7,067 | €65,300 | €5,999 | €32,993 | €2,195 | ▼ 93.3% |
| Tangible fixed assets22/27 | €7,067 | €65,300 | €5,999 | €32,993 | €2,195 | ▼ 93.3% |
| Land and buildings22 | €1,284 | €1,151 | €1,019 | €886 | €754 | ▼ 14.9% |
| Furniture and vehicles24 | €5,783 | €64,149 | €4,980 | €32,106 | €1,441 | ▼ 95.5% |
| Current assets29/58 | €25,470 | €25,745 | €46,005 | €41,266 | €52,294 | ▲ 26.7% |
| Amounts receivable within one year40/41 | €366 | €166 | €14,437 | €20,028 | €12,342 | ▼ 38.4% |
| Trade receivables40 | €366 | €166 | €14,437 | €16,388 | €12,342 | ▼ 24.7% |
| Other amounts receivable41 | - | - | - | €3,640 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €25,104 | €24,255 | €29,771 | €19,704 | €37,275 | ▲ 89.2% |
| Deferred charges and accrued income490/1 | - | €1,323 | €1,796 | €1,533 | €2,677 | ▲ 74.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €32,538 | €91,045 | €52,003 | €74,259 | €54,489 | ▼ 26.6% |
| Equity10/15 | €20,334 | €25,452 | €29,958 | €31,058 | €15,822 | ▼ 49.1% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €18,334 | €23,452 | €27,958 | €29,058 | €13,822 | ▼ 52.4% |
| Distributable reserves133 | €18,334 | €23,452 | €27,958 | €29,058 | €13,822 | ▼ 52.4% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €12,204 | €65,593 | €22,046 | €43,201 | €38,667 | ▼ 10.5% |
| Amounts payable after more than one year17 | - | €43,383 | €0 | €16,469 | €0 | ▼ 100% |
| Financial debts170/4 | - | €43,383 | €0 | €16,469 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €12,204 | €22,211 | €22,046 | €26,305 | €38,357 | ▲ 45.8% |
| Current portion of amounts payable after more than one year42 | - | €10,121 | €0 | €8,508 | €0 | ▼ 100% |
| Trade debts44 | €25 | €125 | €97 | €225 | €331 | ▲ 47.0% |
| Suppliers440/4 | €25 | €125 | €97 | €225 | €331 | ▲ 47.0% |
| Taxes, remuneration and social security45 | €11,379 | €11,161 | €15,830 | €12,115 | €13,586 | ▲ 12.1% |
| Taxes450/3 | €11,379 | €9,583 | €13,374 | €8,914 | €10,468 | ▲ 17.4% |
| Remuneration and social security454/9 | - | €1,577 | €2,456 | €3,201 | €3,118 | ▼ 2.6% |
| Other amounts payable47/48 | €800 | €804 | €6,118 | €5,457 | €24,440 | ▲ 348% |
| Accrued charges and deferred income492/3 | - | - | - | €427 | €310 | ▼ 27.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,277 | €5,918 | €5,306 | €1,100 | €8,462 | ▲ 669% |
| + Depreciation and write-downs630 | €1,040 | €4,520 | €2,236 | €4,371 | €2,394 | ▼ 45.2% |
| Operating cash flow (approximation) | €19,317 | €10,438 | €7,543 | €5,471 | €10,857 | ▲ 98.5% |
| Investment in fixed assets (approximation) | - | -€62,753 | €57,065 | -€31,365 | €28,403 | ▲ 191% |
| Change in cash | - | -€849 | €5,515 | -€10,067 | €17,570 | ▲ 275% |
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
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
31-12
Financial
Highest result since 2020net €18,277 ▲2,034%
Operating result €25,010, net result €18,277, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Putte · 1 establishment unit since 2020
Ground area
1,266 m²
Building footprint
202 m²
Volume, LiDAR
209 m³
Parcel 12029C0953/00G000, Flanders · tallest building 22.8 m. Linked by address, not a title deed.
1 establishment unit
Codex
since 20202.302.472.667
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12029C0953/00G000 | Flanders | 1,266 m² | 1 · 202 m² | 22.8 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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PASTABAL
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Of 16,901 companies in sector 62100 we hold annual accounts for 8,775. 5,363 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
Founded18-05-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
62200Computer consultancy and computer facilities management
62900Other information technology and computer services
Scores and ratios are computed by Checked and are not a credit decision.