CODEX CONSTRUCT
ActiveSummary
CODEX CONSTRUCT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10k and a net result of €8k. Equity is growing by ~59.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+18
Solvency50▲+19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 1.55 against 1.18 in 2024; short-term debt: 64.4% and cash: 32.7% of total assets), but 74.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 16-04-2026, 14 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
14 d early
2024
1 d early
2023
7 d early
2022
2 d early
2021
3 d early
2020
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€10k▲ 295%
2024 · €3k
2020: €-12klowest in 6 years
2021: €10k▲ +180% vs 2020
2022: €-497▼ -105% vs 2021
2023: €-3k▼ -408% vs 2022
2024: €3k▲ +203% vs 2023
2025: €10k▲ +295% vs 2024highest in 6 years
2020 → 2025
Total assets
€41k▼ 6.7%
2024 · €43k
2020: €380khighest in 6 years
2021: €194k▼ -48.9% vs 2020
2022: €29k▼ -84.8% vs 2021
2023: €26k▼ -10.2% vs 2022lowest in 6 years
2024: €43k▲ +64.4% vs 2023
2025: €41k▼ -6.7% vs 2024
2020 → 2025
Net result
€8k▲ 49.5%
2024 · €5k
2020: €-15klowest in 6 years
2021: €21k▲ +244% vs 2020highest in 6 years
2022: €-10k▼ -147% vs 2021
2023: €-2k▲ +79.8% vs 2022
2024: €5k▲ +353% vs 2023
2025: €8k▲ +49.5% vs 2024
2020 → 2025
Working capital
€14k▲ 113%
2024 · €7k
2020: €349khighest in 6 years
2021: €78k▼ -77.6% vs 2020
2022: €4k▼ -95.5% vs 2021
2023: €1k▼ -57.7% vs 2022lowest in 6 years
2024: €7k▲ +357% vs 2023
2025: €14k▲ +113% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€10k-€-497€-3k▼ 408%€3k€10k▲ 295%
2021: €10k
2022: €-497▼ -105% vs 2021
2023: €-3k▼ -408% vs 2022lowest in 5 years
2024: €3k▲ +203% vs 2023
2025: €10k▲ +295% vs 2024highest in 5 years
Operating result€27k-€-10k€-2k▲ 79.2%€5k€8k▲ 55.4%
2021: €27khighest in 5 years
2022: €-10k▼ -136% vs 2021lowest in 5 years
2023: €-2k▲ +79.2% vs 2022
2024: €5k▲ +345% vs 2023
2025: €8k▲ +55.4% vs 2024
Net result€21k-€-10k€-2k▲ 79.8%€5k€8k▲ 49.5%
2021: €21khighest in 5 years
2022: €-10k▼ -147% vs 2021lowest in 5 years
2023: €-2k▲ +79.8% vs 2022
2024: €5k▲ +353% vs 2023
2025: €8k▲ +49.5% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 55% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €41k
Equity
€10k ▲ 295%
Debt
€30k ▼ 25.8%
Debt's share of the balance-sheet total falls from 94.0% to 74.7%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.55▲
2024 · 1.18
Debt to equity
2.96▼
2024 · 15.74
ROE
74.7%▼
2024 · 197.0%
ROA
18.9%▲
2024 · 11.8%
Debt ≤ 1 year
€26k▼
2024 · €37k
Income taxes
€240▲
2024 · €0
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 · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€43k€41k▼
Current assets29/58€43k€41k▼
Amounts receivable after more than one year29€23k€20k▼
Other amounts receivable291€23k€20k▼
Amounts receivable within one year40/41€13k€5k▼
Trade receivables40€13k€0▼
Other amounts receivable41€38€5k▲
Current investments50/53€3k€2k▼
Cash at bank and in hand54/58€4k€13k▲
Deferred charges and accrued income490/1€457€457=
Equity and liabilities
Total equity and liabilities10/49€43k€41k▼
Equity10/15€3k€10k▲
Contributions10/11€3k€3k=
Reserves13-€7k
Distributable reserves133-€7k
Profit (loss) carried forward14€-402€0▲
Amounts payable17/49€41k€30k▼
Amounts payable within one year42/48€37k€26k▼
Trade debts44€29k€21k▼
Suppliers440/4€29k€21k▼
Other amounts payable47/48€8k€5k▼
Accrued charges and deferred income492/3€4k€4k▲
Income statement
Code20242025
Other operating charges640/8€204€1k▲
Gross operating margin9900€5k€9k▲
Operating profit (loss)9901€5k€8k▲
Financial income75/76B€365€359▼
Recurring financial income75€365€359▼
Financial charges65/66B€278€283▲
Recurring financial charges65€278€283▲
Profit (loss) for the period before taxes9903€5k€8k▲
Income taxes67/77€0€240▲
Profit (loss) for the period9904€5k€8k▲
Profit (loss) for the period to be appropriated9905€5k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-402€7k▲
Profit (loss) brought forward from the previous period14P€-6k€-402▲
Transfer to equity691/2-€7k
To other reserves6921-€7k
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €761 | €726 | €780 | €204 | €1k | ▲ 548% |
| Gross operating margin9900 | €28k | €-9k | €-1k | €5k | €9k | ▲ 74.6% |
| Operating profit (loss)9901 | €27k | €-10k | €-2k | €5k | €8k | ▲ 55.4% |
| Financial income75/76B | €1k | €1k | €128 | €365 | €359 | ▼ 1.8% |
| Recurring financial income75 | €1k | €1k | €128 | €365 | €359 | ▼ 1.8% |
| Financial charges65/66B | €5k | €1k | €97 | €278 | €283 | ▲ 1.8% |
| Recurring financial charges65 | €5k | €1k | €97 | €278 | €283 | ▲ 1.8% |
| Profit (loss) for the period before taxes9903 | €23k | €-10k | €-2k | €5k | €8k | ▲ 54.2% |
| Income taxes67/77 | €2k | €0 | €1 | €0 | €240 | - |
| Profit (loss) for the period9904 | €21k | €-10k | €-2k | €5k | €8k | ▲ 49.5% |
| Profit (loss) for the period to be appropriated9905 | €21k | €-10k | €-2k | €5k | €8k | ▲ 49.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €194k | €29k | €26k | €43k | €41k | ▼ 6.7% |
| Fixed assets21/28 | €39k | €0 | - | - | - | - |
| Financial fixed assets28 | €39k | €0 | - | - | - | - |
| Current assets29/58 | €156k | €29k | €26k | €43k | €41k | ▼ 6.7% |
| Amounts receivable after more than one year29 | - | €25k | €25k | €23k | €20k | ▼ 14.0% |
| Other amounts receivable291 | - | €25k | €25k | €23k | €20k | ▼ 14.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Stocks30/36 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €153k | €254 | €196 | €13k | €5k | ▼ 60.5% |
| Trade receivables40 | €153k | €0 | €33 | €13k | €0 | ▼ 100% |
| Other amounts receivable41 | €0 | €254 | €163 | €38 | €5k | ▲ 13,753% |
| Current investments50/53 | €124 | €4k | €503 | €3k | €2k | ▼ 39.5% |
| Cash at bank and in hand54/58 | €2k | €466 | €502 | €4k | €13k | ▲ 247% |
| Deferred charges and accrued income490/1 | €457 | €457 | €581 | €457 | €457 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €194k | €29k | €26k | €43k | €41k | ▼ 6.7% |
| Equity10/15 | €10k | €-497 | €-3k | €3k | €10k | ▲ 295% |
| Contributions10/11 | €3k | €3k | €3k | €3k | €3k | = |
| Reserves13 | - | - | - | - | €7k | - |
| Distributable reserves133 | - | - | - | - | €7k | - |
| Profit (loss) carried forward14 | €7k | €-3k | €-6k | €-402 | €0 | ▲ 100% |
| Amounts payable17/49 | €185k | €30k | €29k | €41k | €30k | ▼ 25.8% |
| Amounts payable after more than one year17 | €104k | €0 | - | - | - | - |
| Financial debts170/4 | €104k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €78k | €26k | €25k | €37k | €26k | ▼ 28.8% |
| Trade debts44 | €58k | €19k | €18k | €29k | €21k | ▼ 26.9% |
| Suppliers440/4 | €58k | €19k | €18k | €29k | €21k | ▼ 26.9% |
| Taxes, remuneration and social security45 | €13k | €0 | - | - | - | - |
| Taxes450/3 | €13k | €0 | - | - | - | - |
| Other amounts payable47/48 | €7k | €7k | €7k | €8k | €5k | ▼ 35.7% |
| Accrued charges and deferred income492/3 | €3k | €4k | €4k | €4k | €4k | ▲ 0.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €-10k | €-2k | €5k | €8k | ▲ 49.5% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - |
| Operating cash flow (approximation) | €21k | €-10k | €-2k | €5k | €8k | ▲ 49.5% |
| Investment in fixed assets (approximation) | - | €39k | - | - | - | - |
| Change in cash | - | €-2k | €36 | €3k | €9k | ▲ 185% |
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
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €5k
Net result €5k after 2 loss-making years.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Merelbeke-Melle · 1 establishment unit since 2019
Ground area
1,629 m²
Building footprint
134 m²
Volume, LiDAR
559 m³
Parcel 44010A0633/00Z002, Flanders · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CODEX CONSTRUCT bv
since 20192.292.210.859
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44010A0633/00Z002 | Flanders | 1,629 m² | 1 · 134 m² | 7.3 m · 1 fl. |
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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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 3,136 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
Founded17-07-2019
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
68122Development of non-residential building projects
Contact
E-mail
codexconstruct@gmail.com
Phone
+32(489)318999Merelbeke-Melle
Scores and ratios are computed by Checked and are not a credit decision.