Turnover
The accounts state no turnover.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 1 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 68, micro). It does better than 45% of them on solvency, 68% on liquidity, 82% on profitability and 97% 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 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 6,713 companies had the same profile as CODEX CONSTRUCT has now. Each dot stands for 17 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CODEX CONSTRUCT itself is lower: 0.1% within 12 months. It rests on far more data about CODEX CONSTRUCT than the profile alone.
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 6,713 companies, not a prediction for CODEX CONSTRUCT. 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 1.55 (1.18 in 2024), above the usual 1.5. Short-term debt is 64.4% and cash 32.7% of total assets. However, 74.7% 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 5 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CODEX CONSTRUCT Merelbeke-Melle | €40,579 | €9,142 | 25.3% | - |
| STAM Oudenaarde | €47,555 | €10,821 | 47.9% | - |
| STOCAM Wemmel | €37,435 | €7,226 | 20.0% | - |
| Levicom Begijnendijk | €46,191 | €9,989 | -39.4% | - |
| T&J Projecten Vosselaar | €35,820 | €10,921 | 18.8% | - |
| Urban Context Ghent | €26,619 | €13,268 | 41.4% | - |
| C+ PLAN Ghent | €60,616 | €12,456 | 28.0% | - |
These companies have the same main activity as CODEX CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €26,600 and €60,600, founded between 2018 and 2020.
CODEX CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from -€6,516 in 2020 to €9,142 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €38,000. Estimated: probably between €19,000 and €120,000.
Higher than 47% of 17,190 companies in 2025.
Higher than 60% of 16,487 companies in 2025.
Higher than 85% of 16,866 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
40,579 | 43,482 | 26,451 | 29,471 | 194,260 | 380,355 | |
21/28 |
- | - | - | 0 | 38,500 | - | |
28 |
- | - | - | 0 | 38,500 | - | |
29/58 |
40,579 | 43,482 | 26,451 | 29,471 | 155,760 | 380,355 | |
29 |
20,078 | 23,357 | 24,670 | 24,670 | - | - | |
291 |
20,078 | 23,357 | 24,670 | 24,670 | - | - | |
3 |
- | - | - | - | 0 | 373,517 | |
30/36 |
- | - | - | - | 0 | 373,517 | |
40/41 |
5,272 | 13,348 | 196 | 254 | 152,770 | 1,943 | |
40 |
0 | 13,310 | 33 | 0 | 152,770 | 30 | |
41 |
5,272 | 38 | 163 | 254 | 0 | 1,913 | |
50/53 |
1,513 | 2,500 | 503 | 3,624 | 124 | - | |
54/58 |
13,259 | 3,820 | 502 | 466 | 2,409 | 2,858 | |
490/1 |
457 | 457 | 581 | 457 | 457 | 2,037 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
40,579 | 43,482 | 26,451 | 29,471 | 194,260 | 380,355 | |
10/15 |
10,251 | 2,598 | -2,521 | -497 | 9,530 | -11,870 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
13 |
7,251 | - | - | - | - | - | |
133 |
7,251 | - | - | - | - | - | |
14 |
0 | -402 | -5,521 | -3,497 | 6,530 | -14,870 | |
17/49 |
30,328 | 40,884 | 28,972 | 29,967 | 184,730 | 392,225 | |
17 |
- | - | - | 0 | 104,000 | 360,397 | |
170/4 |
- | - | - | 0 | 104,000 | 360,397 | |
42/48 |
26,133 | 36,703 | 24,968 | 25,964 | 77,674 | 31,828 | |
44 |
20,945 | 28,636 | 17,902 | 18,897 | 58,462 | 25,136 | |
440/4 |
20,945 | 28,636 | 17,902 | 18,897 | 58,462 | 25,136 | |
45 |
- | - | - | 0 | 12,544 | - | |
450/3 |
- | - | - | 0 | 12,544 | - | |
47/48 |
5,188 | 8,066 | 7,066 | 7,066 | 6,668 | 6,692 | |
492/3 |
4,195 | 4,181 | 4,003 | 4,003 | 3,056 | - | |
| Income statement | |||||||
76A |
- | - | - | - | 0 | 950 | |
9900 |
9,142 | 5,235 | -1,274 | -9,138 | 28,040 | -6,516 | |
630 |
- | - | - | - | 0 | 2,479 | |
640/8 |
1,324 | 204 | 780 | 726 | 761 | 2,205 | |
9901 |
7,818 | 5,031 | -2,054 | -9,864 | 27,278 | -11,200 | |
75/76B |
359 | 365 | 128 | 1,055 | 1,113 | 658 | |
75 |
359 | 365 | 128 | 1,055 | 1,113 | 658 | |
65/66B |
283 | 278 | 97 | 1,217 | 5,358 | 4,329 | |
65 |
283 | 278 | 97 | 1,217 | 5,358 | 4,329 | |
9903 |
7,894 | 5,118 | -2,023 | -10,027 | 23,033 | -14,870 | |
67/77 |
240 | 0 | 1 | 0 | 1,633 | - | |
9904 |
7,654 | 5,118 | -2,024 | -10,027 | 21,401 | -14,870 | |
9905 |
7,654 | 5,118 | -2,024 | -10,027 | 21,401 | -14,870 | |
| Appropriation of the result | |||||||
9906 |
7,251 | -402 | -5,521 | -3,497 | 6,530 | -14,870 | |
14P |
-402 | -5,521 | -3,497 | 6,530 | -14,870 | - | |
691/2 |
7,251 | - | - | - | - | - | |
6921 |
7,251 | - | - | - | - | - | |
| Document | |||||||
The notes to these accounts have 3 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 16-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 16-04-2026 | 2026-00080508 | |
| 30-09-2024 | micro format | 29-04-2025 | 2025-00079073 | |
| 30-09-2023 | micro format | 23-04-2024 | 2024-00066764 | |
| 30-09-2022 | micro format | 28-04-2023 | 2023-00070269 | |
| 30-09-2021 | micro format | 27-04-2022 | 2022-20012094 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-12500013 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| - | - | - | - | 27,278 | -8,721 | ||
| - | - | - | - | 21,401 | -12,391 | ||
| - | - | - | - | 38,500 | - | ||
| 9,439 | 3,318 | 36 | -1,944 | -449 | - | ||
| 14,446 | 6,779 | 1,483 | 3,507 | 78,087 | 348,527 | ||
| 25.3% | 6.0% | -9.5% | -1.7% | 4.9% | -3.1% | ||
| 1.55 | 1.18 | 1.06 | 1.14 | 2.01 | 11.95 | ||
| 1.55 | 1.18 | 1.06 | 1.14 | 2.01 | 0.21 | ||
| 2.96 | 15.74 | - | - | 19.38 | - | ||
| 74.7% | 197.0% | - | - | 224.6% | - | ||
| 18.9% | 11.8% | -7.7% | -34.0% | 11.0% | -3.9% | ||
| - | - | - | - | 5.09 | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €38,500 |
| - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 55% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 94.0% to 74.7%. Equity is higher and debt is lower.
CODEX CONSTRUCT has no parent and no holdings in its annual accounts. Custom Built is the only director.
| Custom Built
registered office since 15-12-2011 · founded in 2011 |
total assets €1.5m (2025) 0841.646.036 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
CODEX CONSTRUCT was incorporated on 17 July 2019 as a private limited company.1 Since 2019, Custom Built has served as director.2 Total assets fell from €380,355 in 2020 to €40,579 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| CODEX CONSTRUCT bv registered office Koningin Astridlaan 83, 9820 Merelbeke-Melle 4100102 General construction of residential buildings | 17-07-2019 | 2.292.210.859 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44010A0633/00Z002 | 1,629 m² | 1 · 134 m² | 7.3 m · 1 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0730.792.456
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