CODINVEST
ActiveSummary
CODINVEST has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €540,004 and a net result of €10,303. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 92% of 14258 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-5
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 2.55 against 1.71 in 2024; short-term debt: 7.9% and cash: 19.7% of total assets), and 9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
91%
Return on assets
1.7%
Age of the figures
9 mo
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
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 03-07-2026, 28 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
28 d early
2024
23 d early
2023
26 d early
2022
28 d early
2021
30 d early
2020
29 d early
2019
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 27 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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. Usually files around 3 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€540,004▲ 1.9%
2024 · €529,701
Total assets
€593,126▲ 0.4%
2024 · €591,026
Net result
€10,303▼ 71.7%
2024 · €36,448
Working capital
€72,249▲ 84.8%
2024 · €39,105
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€52,886▲ 73.5%€66,720▲ 26.2%€89,597▲ 34.3%€47,238▼ 47.3%€21,352▼ 54.8%
Net result€42,770above the sector's middle half▲ 97.7%€49,807above the sector's middle half▲ 16.5%€64,276above the sector's middle half▲ 29.0%€36,448above the sector's middle half▼ 43.3%€10,303within the sector's middle half▼ 71.7%
Equity€379,171above the sector's middle half▲ 12.7%€428,978above the sector's middle half▲ 13.1%€493,254above the sector's middle half▲ 15.0%€529,701above the sector's middle half▲ 7.4%€540,004above the sector's middle half▲ 1.9%
Total assets€619,646within the sector's middle half▲ 5.9%€550,520within the sector's middle half▼ 11.2%€580,882within the sector's middle half▲ 5.5%€591,026within the sector's middle half▲ 1.7%€593,126within the sector's middle half▲ 0.4%
Debt€240,475▼ 3.3%€121,542▼ 49.5%€87,628▼ 27.9%€61,324▼ 30.0%€53,122▼ 13.4%
Working capital-€138,417below the sector's middle half▲ 27.7%-€70,811below the sector's middle half▲ 48.8%€26,057within the sector's middle half€39,105within the sector's middle half▲ 50.1%€72,249within the sector's middle half▲ 84.8%
Solvency61.2%within the sector's middle half▲ 3.7pp77.9%above the sector's middle half▲ 16.7pp84.9%above the sector's middle half▲ 7.0pp89.6%above the sector's middle half▲ 4.7pp91.0%above the sector's middle half▲ 1.4pp
Current ratio0.42within the sector's middle half▲ 0.190.40below the sector's middle half▼ 0.021.33within the sector's middle half▲ 0.931.71within the sector's middle half▲ 0.392.55within the sector's middle half▲ 0.83
Return on assets (ROA)6.9%within the sector's middle half▲ 3.2pp9.0%above the sector's middle half▲ 2.1pp11.1%above the sector's middle half▲ 2.0pp6.2%within the sector's middle half▼ 4.9pp1.7%within the sector's middle half▼ 4.4pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 55% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €593,126
Fixed assets
€474,165 ▼ 4.6%
Current assets
€118,961 ▲ 26.7%
Equity and liabilities €593,126
Equity
€540,004 ▲ 1.9%
Debt
€53,122 ▼ 13.4%
Debt's share of the balance-sheet total falls from 10.4% to 9.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,930▼
2024 · €76,286
Cash flow
€40,881▼
2024 · €65,496
Debt to equity
0.10▼
2024 · 0.12
ROE
1.9%▼
2024 · 6.9%
Interest coverage
444.08▼
2024 · 84762.04
Debt ≤ 1 year
€46,713▼
2024 · €54,796
Debt > 1 year
€3,820=
2024 · €3,820
Income taxes
€10,934▲
2024 · €10,789
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,640 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
3.6%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €56,194 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,222 | €28,328 | €28,139 | €29,048 | €30,578 | ▲ 5.3% |
| Other operating charges640/8 | €16,182 | €16,457 | €17,635 | €18,291 | €18,900 | ▲ 3.3% |
| Gross operating margin9900 | €100,290 | €111,505 | €135,370 | €94,577 | €70,830 | ▼ 25.1% |
| Operating profit (loss)9901 | €52,886 | €66,720 | €89,597 | €47,238 | €21,352 | ▼ 54.8% |
| Financial income75/76B | €0 | - | €0 | - | €1 | - |
| Recurring financial income75 | €0 | - | €0 | - | €1 | - |
| Financial charges65/66B | - | - | €0 | €1 | €117 | ▲ 12,893% |
| Recurring financial charges65 | - | - | €0 | €1 | €117 | ▲ 12,893% |
| Profit (loss) for the period before taxes9903 | €52,886 | €66,720 | €89,597 | €47,237 | €21,236 | ▼ 55.0% |
| Income taxes67/77 | €10,116 | €16,913 | €25,321 | €10,789 | €10,934 | ▲ 1.3% |
| Profit (loss) for the period9904 | €42,770 | €49,807 | €64,276 | €36,448 | €10,303 | ▼ 71.7% |
| Transfer from tax-exempt reserves789 | - | €15,241 | - | - | €22,861 | - |
| Profit (loss) for the period to be appropriated9905 | €42,770 | €65,048 | €64,276 | €36,448 | €33,164 | ▼ 9.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €619,646 | €550,520 | €580,882 | €591,026 | €593,126 | ▲ 0.4% |
| Fixed assets21/28 | €521,070 | €503,301 | €475,162 | €497,125 | €474,165 | ▼ 4.6% |
| Tangible fixed assets22/27 | €521,070 | €503,301 | €475,162 | €497,125 | €474,165 | ▼ 4.6% |
| Land and buildings22 | €495,413 | €474,473 | €451,908 | €478,968 | €455,268 | ▼ 4.9% |
| Plant, machinery and equipment23 | €24,878 | €28,439 | €23,254 | €18,157 | €18,897 | ▲ 4.1% |
| Furniture and vehicles24 | €778 | €389 | - | - | - | - |
| Current assets29/58 | €98,577 | €47,220 | €105,720 | €93,901 | €118,961 | ▲ 26.7% |
| Amounts receivable within one year40/41 | €1,427 | €3,324 | €170 | €9,211 | €1,985 | ▼ 78.4% |
| Trade receivables40 | €1,190 | - | - | - | €1,974 | - |
| Other amounts receivable41 | €237 | €3,324 | €170 | €9,211 | €11 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €97,150 | €43,000 | €105,550 | €84,519 | €116,561 | ▲ 37.9% |
| Deferred charges and accrued income490/1 | - | €895 | - | €171 | €415 | ▲ 142% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €619,646 | €550,520 | €580,882 | €591,026 | €593,126 | ▲ 0.4% |
| Equity10/15 | €379,171 | €428,978 | €493,254 | €529,701 | €540,004 | ▲ 1.9% |
| Contributions10/11 | €202,629 | €214,298 | €202,629 | €202,629 | €202,629 | = |
| Reserves13 | €176,542 | €149,632 | €161,301 | €161,301 | €138,440 | ▼ 14.2% |
| Non-distributable reserves130/1 | €11,669 | - | - | - | - | - |
| Reserves not available under the articles1311 | €11,669 | - | - | - | - | - |
| Tax-exempt reserves132 | €52,945 | €37,704 | €37,704 | €37,704 | €14,843 | ▼ 60.6% |
| Distributable reserves133 | €111,928 | €111,928 | €123,597 | €123,597 | €123,597 | = |
| Profit (loss) carried forward14 | - | €65,048 | €129,323 | €165,771 | €198,935 | ▲ 20.0% |
| Amounts payable17/49 | €240,475 | €121,542 | €87,628 | €61,324 | €53,122 | ▼ 13.4% |
| Amounts payable after more than one year17 | €1,000 | €1,000 | €1,000 | €3,820 | €3,820 | = |
| Other amounts payable178/9 | €1,000 | €1,000 | €1,000 | €3,820 | €3,820 | = |
| Amounts payable within one year42/48 | €236,994 | €118,031 | €79,663 | €54,796 | €46,713 | ▼ 14.8% |
| Trade debts44 | €33,601 | - | €356 | €2,275 | €5,291 | ▲ 133% |
| Suppliers440/4 | €33,601 | - | €356 | €2,275 | €5,291 | ▲ 133% |
| Taxes, remuneration and social security45 | €72,684 | €1,251 | €9,657 | €4,871 | €8,771 | ▲ 80.1% |
| Taxes450/3 | €72,684 | €1,251 | €9,657 | €4,871 | €8,771 | ▲ 80.1% |
| Other amounts payable47/48 | €130,710 | €116,780 | €69,650 | €47,650 | €32,650 | ▼ 31.5% |
| Accrued charges and deferred income492/3 | €2,481 | €2,512 | €6,965 | €2,708 | €2,590 | ▼ 4.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,770 | €49,807 | €64,276 | €36,448 | €10,303 | ▼ 71.7% |
| + Depreciation and write-downs630 | €31,222 | €28,328 | €28,139 | €29,048 | €30,578 | ▲ 5.3% |
| Operating cash flow (approximation) | €73,992 | €78,135 | €92,414 | €65,496 | €40,881 | ▼ 37.6% |
| Investment in fixed assets (approximation) | - | -€10,559 | €0 | -€51,011 | -€7,618 | ▲ 85.1% |
| Change in cash | - | -€54,150 | €62,550 | -€21,032 | €32,043 | ▲ 252% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €10,303 ▼71.7%
Net result drops to €10,303, the lowest in the series.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €500,000Eq €529,701 ▲7.4%
6 profitable years in a row build equity to €529,701.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €64,276 ▲29%
Operating result €89,597, net result €64,276, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.33
Current ratio from 0.40 to 1.33; short-term debt falls from €118,031 to €79,663.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Wommelgem · 1 establishment unit since 2018
Ground area
464 m²
Building footprint
279 m²
Volume, LiDAR
2,653 m³
Parcel 11052C0366/00R000, Flanders · tallest building 15.0 m, ±4 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
CODINVEST 2
since 20182.278.472.491
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11052C0366/00R000 | Flanders | 464 m² | 1 · 279 m² | 15.0 m · 4 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.
Structure & network
Owners and holdings
1 ownerChain of control
- GROEP DE MAEYER
- CODINVEST
Highest known parent: GROEP DE MAEYER. The sources do not say who stands above it.
Owners 1
- GROEP DE MAEYERparent99.99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
DELVAN Invest
BE 0644.537.977
Staden · Eq €540,000
Winston 35
BE 0536.901.532
Watermaal-Bosvoorde · Eq €540,484
GESTHAEG
BE 0451.727.416
Gerpinnes · Eq €539,322
BC GUILLEMINS
BE 0402.419.049
Liège · Eq €539,183
BUREAU D'ASSURANCES JACQUES GOBERT & FILS
BE 0436.981.634
La Louvière · Eq €539,141
Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. 5,015 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
Founded09-08-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0700764325
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.