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CODIPACK

Active Public limited companyfounded 1990active for 35 yearsIndustrielaan 8, 2250 OlenKBO/BCE: BE 0442.051.566 subsidiary of IMBER#4 employer in Olen, Wholesale and retail trade sector
CODIPACK
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Overview

Lifetime

20 annual accounts with figures on one time axis, 35 filings since 1991
peak €32.0m (2025)
€32.0m▲ 7.1%
peak €2.0m (2025)
€2.0m▲ 11.1%
peak €7.4m (2025)
€7.4m▲ 14.2%
€8.3m▲ 18.9%
peak 56.7 FTE (2025)
56.7 FTE▲ 9.2%
Board4 names since 2018
2 directorsIMBER and 1 other
Owners
100%IMBER
Documentsfilings and deeds
31-07-2026on the last day
2025financial year
Staff from 51.9 FTE to 56.7 FTEDividend €1.1mEquity from €6.5m to €7.4mDebts from €7.0m to €8.3m

Key points

from the 2025 annual accounts

Equity

€7.4m ▲ 14.2%

CODIPACK has made a profit in every financial year since 2006.

Payment terms

64 days to suppliers
Suppliers
43 to 64
Customers
81 to 87

CODIPACK pays its suppliers 21 days later than in 2024. Customers pay 6 days later.

Position in the sector

€2.0m

Higher net result than 95% of companies in retail trade. Sector median €39,880 · 5,067 companies.

Checked score

96
Excellent
Financially stronger than 68% of medium-sized companies in retail trade (NACE 47)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.4% across 385 companies (NACE 47, medium-sized).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025lowest value 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: 0.1%▲ +0.1 percentage points vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026highest value 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026 11-2026: 0.1%● unchanged vs 10-2026

Financial strength
Strong

72-1equity 47.2% of total assets
39=short-term debt 50.4% · cash 11.3%
75-2return on assets 12.8%

Score breakdown

lowers risk
Founded in 1990
Profit of €2.0m (financial year 2025)
Size: turnover €32.0m, 56.7 FTE, total assets €15.7m
Liquidity: current ratio 1.80, cash €1.8m
Calculation

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 47, medium-sized). It does better than 72% of them on solvency, 54% on liquidity, 79% on profitability and 67% 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 31-12-2025.

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).

Comparable companies, two years later

In July 2024, 1,579 companies had the same profile as CODIPACK has now. Each dot stands for 4 companies, two years later.

96.6%
were still trading
3.2%
stopped another way
0.1%
went bankrupt
  • Medium-sized
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

That fits the bankruptcy probability of CODIPACK itself: 0.1% within 12 months.

Test of the method

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 1,579 companies, not a prediction for CODIPACK. 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.

Credit verdict

Credit of up to €700,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 1.8 (1.8 in 2024), above the usual 1.5. Short-term debt is 50.4% and cash 11.3% of total assets. However, 52.8% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

5 signals, none raises the risk
Five signals.
lowers riskneutral
lowers risk · Founded in 1990
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Profit of €2.0m (financial year 2025)
NBB · annual accounts
lowers risk · Size: turnover €32.0m, 56.7 FTE, total assets €15.7m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Liquidity: current ratio 1.80, cash €1.8m
NBB · annual accounts
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 · 10 filings
Deviation from the deadline
2025
on the day
2024
14 days early
2023
on the day
2022
11 days late
2021
2 days early
2020
5 days early
2019
1 day early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 2 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

I
IMBER
Managing director, Imberechts Walter
I
IMBI
Director, Jonas Imberechts, since 28-08-2023
PB
PKF Bofidi Audit
Auditor, Jeroen Rans
  • IMBER 100%equity €7.2m (2025) · 2025 annual accounts of IMBER
Board & ownership

Recent changes

Reappointment: Imber (managing director) Permanent representative: Imberechts Walter · General meeting of 30-06-2025 · Gazette deed
Reappointment: Imber (managing director and chair of the board) Permanent representative: Imberechts Walter · General meeting of 30-06-2025 · Gazette deed
Registered in the Peppol Directory Reachable for e-invoices through 0208:0442051566
Reappointment: PKF Bofidi Audit BV (statutory auditor) Permanent representative: Walter IMBERECHTS · General meeting of 28-07-2024 · Gazette deed
All 47 events

Comparable companies

same main activity, similar in size and age
Company
CODIPACK Olen €32.0m 7.2% 47.2% 56.7
DECOR ET JARDIN SA Herve €22.5m -11.3% 59.5% 53.1
HERMANS HEFTRUCKS Rijkevorsel €22.9m 13.4% 34.5% 40.1
STOCK ATH Ath €42.7m 0.3% 85.0% 79.6
DISTRILED LIÈGE Zwevegem €10.2m 3.4% 86.5% 34.6
VAN AKELYEN BOUWMATERIALEN Zele €17.9m 7.1% 63.5% 14.2
TIGER STORES BELGIUM Antwerp €10.5m 5.0% 60.0% 49.9
-10%0%10%20%€10m€100m€1bnCODIPACKEBIT margin

Grey: the largest companies of the sector (retail trade (NACE 47)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as CODIPACK: other retail sale of new goods (NACE 47789). They are comparable in size and age: total assets between €5.4m and €43m, founded between 1972 and 2013.

Official details

Source: KBO
Status
Active since 06-12-1990Normal situation
Activity
Other retail sale of new goodsNACE 47789and 1 other
Joint committees
149.04Metal trade
200Auxiliary committee for white-collar workers · annual accounts 2025
Establishment unit
2.102.800.1472250 Olen, since 17-12-1990
Financial year end
31 December
Peppol
Reachable since 04-12-2025
Company details

Annual accounts 2025

€32.0m▲ 7.1%
€2.0m▲ 11.1%
€7.4m▲ 14.2%
€15.7m▲ 16.6%
Employeeson 31-12-2025
60▲ 5.3%
Filing
Filed on 31-07-2026, on the last day of the filing period
Financials

Insights on CODIPACK

CODIPACK has existed since 1990. Turnover grew from €6.3m in 2006 to €32.0m in 2025 and staff from 20.7 to 56.7 full-time equivalents.

Turnover has grown every year since 2020.

IMBER holds all the shares.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 31-07-2026, on the day of the deadline
€32.0m
▲ 7.1%
€2.3m
▼ 4.7%
€2.9m
▼ 3.3%
€2.6m
▲ 9.1%
47.2%
▼ 1.0 percentage points
1.80
▲ 0.00
In the rankings #4 employer in Olen, Wholesale and retail trade sector#7 company by total assets in Olen, Wholesale and retail trade sector#8 company by equity in Olen, Wholesale and retail trade sector

Money flows

of every €100 of turnover, €6.31 remains as profit in 2025

Balance sheet

balance sheet total €15.7m on 31-12-2025
What the company ownsHow it is paid for

in €m

in €m

Position in the sector

Compare with sector

47.2%

Higher than 62% of 5,068 companies in 2025.

1.80

Higher than 61% of 4,994 companies in 2025.

12.8%

Higher than 85% of 5,037 companies in 2025.

CODIPACK Middle half of the sector 80% of the sector Full accounts in retail trade (NACE 47)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter

Staff

Men and women10% women

51.2 men and 5.5 women in full-time equivalents in 2025.

€82,071

Men €83,895, women €65,097 per full-time equivalent. Jobs differ, so this is not a pay gap.

+3 people

people who joined people who left

In 2025, 13 people joined and 10 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 15.7m13.5m13.7m13.2m9.7m7.6m7.1m7.2m6.7m6.3m4.5m3.7m3.2m3.3m3.1m3.3m2.7m2.8m3.3m3.8m
21/28 1.5m1.6m1.1m1.2m1.2m734,962324,185330,900378,884366,350428,168187,215274,128507,203456,387559,826697,148733,308733,181792,880
21 ------------------5,7577,327
22/27 1.5m1.6m1.1m1.2m1.2m734,962324,185329,400377,384364,850426,668185,715274,128497,011450,623553,994672,480709,522719,890773,190
22 -------------249,863264,976304,055469,656484,985488,105514,790
23 196,875225,227167,970188,30843,89421,6669,5723,2033,9068,65220,81820,15840,55755,24071,79873,6491,8442,2192,68925,420
24 1.3m1.3m938,865990,9151.1m713,296314,613326,198373,477356,198405,850165,557233,570191,908113,849176,290200,980222,318229,096232,980
28 01,1251,1251,125--01,5001,5001,5001,5001,500-10,1925,7645,83124,66823,7867,53412,363
282/3 -----0--------------
284/8 01,1251,1251,125--01,5001,5001,5001,5001,500--------
285/8 01,1251,1251,125--01,5001,5001,5001,5001,500--------
29/58 14.3m11.9m12.6m12.0m8.5m6.9m6.8m6.9m6.4m5.9m4.0m3.5m2.9m2.8m2.6m2.7m2.0m2.1m2.5m3.0m
3 4.9m3.9m3.7m3.9m2.3m1.8m2.0m1.8m1.8m1.6m840,680816,290683,540651,224648,123628,356615,968489,825582,024715,442
30/36 4.9m3.9m3.7m3.9m2.3m1.8m2.0m1.8m1.8m1.6m840,680816,290683,540651,224648,123628,356615,968489,825582,024715,442
30/31 -01,379-----------------
34 4.9m3.9m3.7m3.9m2.3m1.8m2.0m1.8m1.8m1.6m840,680816,290683,540-------
40/41 7.7m6.6m6.9m6.5m5.3m3.7m3.7m3.7m3.6m3.1m2.4m1.7m2.0m1.9m1.7m1.7m861,452954,9331.2m1.3m
40 7.7m6.6m6.9m6.5m5.3m3.7m3.7m3.7m3.6m2.8m2.4m1.7m1.9m1.7m1.5m1.4m853,452951,6491.0m1.3m
41 4,44510,0143,579871474045,55645,50095236,283-4,155154,789207,560202,880304,0718,0003,284105,00435,191
50/53 -----------18,827-----300,000-443,000
51/53 -----------18,827--------
54/58 1.8m1.5m1.9m1.5m900,7711.4m1.0m1.3m883,1321.2m790,300956,503195,859267,364273,405334,759549,375356,303784,336442,418
490/1 4,05613,939101,469101,93517,37536,64739,474118,64060,287102,1457,5568,0327,8557,9958,28412,07917,455831,96634,033
Balance sheet: equity and liabilities
10/49 15.7m13.5m13.7m13.2m9.7m7.6m7.1m7.2m6.7m6.3m4.5m3.7m3.2m3.3m3.1m3.3m2.7m2.8m3.3m3.8m
10/15 7.4m6.5m5.9m4.7m3.6m2.6m2.8m2.0m2.0m1.9m1.5m1.6m1.0m1.3m1.3m1.3m933,676842,258778,9771.7m
10/11 96,84596,84596,84596,84596,84596,84596,84596,84596,845-78,24578,24578,24596,67896,67896,67896,67896,67896,67896,678
10 96,84596,84596,84596,84596,845----96,845----------
100 96,84596,84596,84596,84596,84596,84596,84596,84596,84596,84578,24578,24578,24596,67896,67896,67896,67896,67896,67896,678
13 7.3m6.4m5.8m4.6m3.5m2.5m2.7m1.9m1.9m1.8m1.4m1.5m969,2311.2m1.2m1.2m832,033739,981676,0621.6m
130/1 9,6849,6849,6849,6849,6849,684-------------4,382
130 9,6849,6849,6849,6849,6849,6849,6849,6849,6849,6847,8247,8247,8249,6689,6689,6689,6689,6689,6689,668
1319 -------------------4,382
132 74,25874,25874,25874,25874,25874,25874,25874,25874,25874,44758,898317,01167,36683,18188,13891,03063,15963,02863,78263,782
133 7.3m6.3m5.7m4.5m3.4m2.4m2.7m1.8m1.8m1.7m1.3m1.2m894,0411.1m1.1m1.1m759,206667,285602,6121.5m
15 -------------3,0603,6954,3304,9645,5996,2376,947
16 ---------984842,0874,84414,09216,91718,9485,23035,8906,5506,855
160/5 -----------------30,000--
168 ---------984842,0874,84414,09216,91718,9485,2305,8906,5506,855
17/49 8.3m7.0m7.9m8.5m6.1m5.0m4.3m5.2m4.7m4.4m3.0m2.1m2.1m2.0m1.8m2.0m1.8m2.0m2.5m2.1m
17 378,024339,990420,461236,742191,056243,772034,70688,649142,117180,90670,544125,470208,639260,289344,810366,522447,056519,000591,435
170/4 378,024339,990420,461236,742191,056243,772034,70688,649142,117180,90670,544125,470208,639260,289344,810366,522447,056519,000591,435
173 106,86668,832149,303236,742191,056243,772034,70688,649142,117180,90670,544125,470-------
174 271,158271,158271,158-----------------
42/48 7.9m6.7m7.4m8.2m5.9m4.8m4.3m5.2m4.6m4.2m2.8m2.1m2.0m1.8m1.5m1.6m1.4m1.5m1.9m1.5m
42 65,59280,471143,821133,59886,0756,15934,70653,94253,46859,84376,66854,92666,499106,70797,177113,629116,581127,444141,319145,868
43 113,407135,107235,224233,557100,123100,110100,11075,09362,578-37,609--41,88833,333---25,344-
430/8 113,407135,107235,224233,557100,123100,110100,11075,09362,578-37,609--41,88833,333---25,344-
44 4.3m2.7m3.8m4.8m3.2m2.3m2.1m2.1m2.6m2.6m1.6m1.5m1.1m895,617922,025846,041965,050821,2111.0m995,346
440/4 4.3m2.7m3.8m4.8m3.2m2.3m2.1m2.1m2.6m2.6m1.6m1.5m1.1m895,617922,025846,041965,050821,2111.0m995,346
46 846,644867,2751.2m884,261705,092667,736611,493768,859446,694618,343239,39759,019159,254387,17464,127313,46481,69694,56991,697137,994
45 1.3m1.5m1.3m1.0m814,265661,463647,968724,724743,387299,762241,093262,764203,637180,760250,845198,644207,703222,575232,478186,331
450/3 762,307985,177786,082537,698389,031240,620265,147312,388310,37924,96070,998103,55361,62327,01190,35054,53569,00378,62779,63948,529
454/9 540,128473,109508,707511,290425,234420,843382,822412,336433,008274,802170,096159,211142,014153,749160,495144,109138,700143,948152,839137,803
47/48 1.3m1.4m793,6121.0m1.0m1.0m725,3051.5m760,500700,000600,000150,000450,000200,000175,000175,00064,941243,449428,27314,027
492/3 --066,523----------1,082----1,205
Income statement
70/76A 32.3m30.2m28.7m28.5m23.3m19.8m19.9m19.6m18.8m17.0m12.2m11.9m11.6m-------
70 32.0m29.9m28.5m28.3m23.2m19.7m19.8m19.4m18.6m16.9m12.1m11.8m11.5m----6.3m-6.3m
74 256,608293,556223,316164,252165,336----188,564----------
76A 10,0123,80119,2378,2075,9593,4551,21015,7911,859-6,2369,9135,50012,335-274,3011,6532,0662,11115,213
9900 -------------2.1m1.9m1.8m1.8m1.7m1.8m1.7m
60/66A 30.0m27.8m26.6m27.1m22.1m18.8m18.7m18.5m17.4m15.6m11.4m10.8m10.9m-------
60/61 -----------------4.7m-4.6m
60 20.9m19.2m19.2m19.9m15.7m13.1m12.9m12.8m11.9m10.9m7.9m7.6m7.7m-------
600/8 21.8m19.4m19.0m21.5m16.2m12.9m13.1m12.8m12.1m11.6m7.9m7.7m7.7m-------
609 -986,089-146,243207,155-1.6m-494,464140,389-177,34421,112-260,883-689,997-24,390-132,750-32,316-------
61 3.8m3.8m2.8m2.7m2.5m2.4m2.4m2.4m2.3m2.1m1.7m1.5m1.6m-------
62 4.7m4.2m4.0m3.9m3.5m3.1m3.2m3.1m3.1m2.4m1.7m1.6m1.5m1.5m1.3m1.1m1.2m1.2m1.2m1.2m
630 596,311580,824547,842530,067368,918175,064100,78398,72094,885127,506116,993120,757135,005183,827201,733270,861191,804178,220202,373221,171
631/4 7,571-14,5073,56216,8858593,5151,242-5901,1873,047-4,580-1,506-5,658-1,618199--3,161-2,150
635/8 -----------------30,00030,000--
640/8 64,92530,86226,09917,34915,92415,34314,26119,83120,35316,69616,57812,43225,61417,31816,05017,89516,13119,46023,40035,279
66A 01962,416-05003,6731,4716,201-------3,8873,070721-
9901 2.3m2.4m2.1m1.4m1.3m1.1m1.2m1.0m1.4m1.4m794,7041.0m739,228357,718342,892393,077339,023257,178361,985217,114
75/76B 551,744167,912475,412221,185126,57369,44483,90782,00371,63171,14045,29040,49655,75019,46221,18220,382166,20759,10770,20337,373
75 551,744167,912475,412221,185126,57369,44483,90782,00371,63171,14045,29040,49655,75019,46221,18220,382166,20759,10770,20337,373
750 ----------1,253---------
751 -037,951-----51,640244,0587,399-------
752/9 551,744167,912437,461221,185126,57369,44483,90782,00371,62669,50044,01336,43948,350-------
65/66B 64,75864,16261,92854,99234,10057,34051,97341,30233,39131,88353,976125,36138,63852,32245,46533,27141,54642,64253,51565,404
65 64,75864,16261,92854,99234,10057,34051,97341,30233,39131,88353,976125,36138,63852,32245,46533,27141,54642,64253,51565,404
650 34,58530,37738,33229,5029,77315,18922,12615,05212,46314,20814,24117,76227,293-------
651 -----------83,173--------
652/9 30,17333,78523,59625,49024,32642,15129,84726,25020,92817,67539,73524,42711,346-------
9903 2.8m2.5m2.5m1.6m1.4m1.1m1.2m1.1m1.5m1.4m792,254959,429761,839337,193318,609654,489461,451272,639380,062204,296
780 ---------386----------
67/77 759,793692,396698,001436,877384,382307,923399,944354,347586,658480,176293,294291,591320,107128,311117,885140,647104,85772,880151,16252,299
670/3 763,500700,000698,001436,877384,382308,000400,000354,500586,658480,176293,505292,133321,239-------
77 3,7077,604--07756153--2115421,132-------
9904 2.0m1.8m1.8m1.1m981,545768,769813,830702,798869,571969,218500,562670,595444,789211,707202,756500,123357,253200,419229,204148,450
789 --------1897513,1135,3555,9374,9573,417753753753--
689 -----------255,000--52628,624884--7,532
9905 2.0m1.8m1.8m1.1m981,545768,769813,830702,798869,761969,969503,675420,950450,726216,663205,647472,253357,122201,172229,204140,919
Appropriation of the result
9906 2.0m1.8m1.8m1.1m981,545768,769813,830702,798869,761969,969503,675420,950450,726216,663205,647472,253357,122201,172229,204140,919
791/2 ----0231,231----100,000----175,000265,200-933,333-
792 ----0231,231----100,000---------
691/2 922,641620,2121.2m1.1m981,5450813,8302,798109,261269,9693,675270,95072616,66330,647472,253357,12264,67234,204140,919
6921 922,641620,2121.2m1.1m981,5450813,8302,798109,261269,9693,675270,95072616,66330,647472,253357,12264,67234,204140,919
694/7 1.1m1.2m625,000-01.0m0700,000760,500700,000600,000150,000450,000200,000175,000175,000265,200136,5001.1m-
694 1.1m1.2m625,000-01.0m0700,000760,500700,000600,000150,000450,000200,000175,000175,000265,200136,5001.1m-
Social balance sheet
9087 56.751.951.554.350.946.645.147.850.829.328.627.225.227.826.622.823.423.623.720.7
Men (FTE)1003 51.246.247.548.745.141.640.843.845.8-24.622.719.6-------
Women (FTE)1003 5.55.745.65.854.345-44.55.6-------
Hours worked1013 95,94888,57485,25892,47585,85675,89575,91579,38773,779-48,11245,58243,05246,36443,46238,18438,67940,15239,18335,263
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 15 older financial years (1991-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 64 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 31-07-2026 2026-00377895 PDF
31-12-2024 full format 17-07-2025 2025-00317174 PDF
31-12-2023 full format 31-07-2024 2024-00324580 PDF
31-12-2022 full format 11-08-2023 2023-00325249 PDF
31-12-2021 full format 29-07-2022 2022-20272003 PDF
31-12-2020 full format 26-07-2021 2021-40400568 PDF
31-12-2019 full format 30-07-2020 2020-39300039 PDF
31-12-2018 full format 04-07-2019 2019-29200070 PDF
31-12-2017 full format 04-07-2018 2018-29400010 PDF
31-12-2016 full format 28-07-2017 2017-40700559 PDF
31-12-2015 full format 30-06-2016 2016-26300066 PDF
31-12-2014 full format 13-07-2015 2015-30400412 PDF
31-12-2013 full format 04-07-2014 2014-27800071 PDF
31-12-2012 abbreviated format 04-07-2013 2013-27400342 PDF
31-12-2011 abbreviated format 05-07-2012 2012-26900069 PDF
31-12-2010 abbreviated format 30-06-2011 2011-25100391 PDF
31-12-2009 abbreviated format 03-06-2010 2010-15400117 PDF
31-12-2008 abbreviated format 03-08-2009 2009-53500373 PDF
31-12-2007 abbreviated format 26-08-2008 2008-63900318 PDF
31-12-2006 abbreviated format 07-08-2007 2007-54500297 PDF
31-12-2005 abbreviated format 14-06-2006 2006-24404672 PDF
31-12-2004 abbreviated format 08-08-2005 2005-63502157 PDF
31-12-2003 abbreviated format 17-08-2004 2004-60102572 PDF
31-12-2002 abbreviated format 07-08-2003 2003-60600084 PDF
31-12-2001 abbreviated format 05-07-2002 2002-34500965 PDF
31-12-2000 abbreviated format 06-08-2001 2001-48304690 PDF
31-12-1999 abbreviated format 14-08-2000 2000-51301990 PDF
31-12-1998 abbreviated format 29-07-1999 1999-38002310 PDF
31-12-1997 abbreviated format 18-08-1998 1998-40803355 PDF
31-12-1996 abbreviated format 09-07-1997 1997-28804127 PDF
31-12-1995 abbreviated format 13-06-1996 1996-16002144 PDF
31-12-1994 abbreviated format 12-06-1995 1995-23100160 PDF
31-12-1993 abbreviated format 28-06-1994 1994-21203907 PDF
31-12-1992 abbreviated format 10-11-1993 1993-42603474 PDF
31-12-1991 abbreviated format 25-06-1992 1992-14802393 PDF

Subsidies and aid

Flemish government 2022 to 2025, 3 entries, €10,713 awarded, €4,614 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
€10,713
Year Entries AwardedPaid
2025 1 €6,288€2,289
2024 1 €2,100€0
2022 1 €2,325€2,325

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
2.9m3.0m2.6m1.9m1.6m1.2m1.3m1.1m1.5m1.5m911,6971.2m874,233541,545544,626663,937530,827435,398564,357438,285
2.6m2.4m2.3m1.7m1.4m943,833914,613801,518964,4571.1m617,555791,352579,795395,533404,489770,984549,057378,639431,577369,621
505,9911.0m530,719559,539795,187589,078102,49054,274128,395215,405357,94732,344161,984234,64398,362369,317173,531211,890158,863194,727
316,100-476,960443,316592,293-465,350326,802-237,800393,986-326,828419,660-166,203760,644-71,505-6,041-61,354-214,616193,072-428,033341,918-
6.4m5.3m5.2m3.8m2.6m2.1m2.5m1.7m1.7m1.7m1.2m1.5m903,6631.0m1.1m1.1m608,280591,896571,3471.5m
7.2%8.1%7.3%5.0%5.5%5.4%6.0%5.2%7.6%8.4%6.6%8.8%6.4%----4.1%-3.5%
47.2%48.2%42.9%35.8%37.0%34.2%40.0%27.9%29.9%30.4%32.9%42.4%33.1%38.9%41.4%38.5%34.1%29.7%23.9%44.7%
1.801.801.701.471.441.441.591.331.371.401.431.711.451.561.721.641.421.391.292.00
1.191.211.200.991.051.061.130.990.981.031.141.311.111.201.301.260.991.070.991.52
1.121.071.331.791.701.931.502.582.342.292.041.362.021.561.401.581.932.323.171.23
27.2%28.0%30.5%24.0%27.4%29.5%28.7%34.8%43.1%50.8%34.1%42.8%42.5%16.3%15.8%39.8%38.3%23.8%29.4%8.8%
12.8%13.5%13.1%8.6%10.1%10.1%11.5%9.7%12.9%15.4%11.2%18.1%14.0%6.4%6.5%15.3%13.0%7.1%7.0%4.0%
83.6198.4268.5565.51over 10081.6257.9774.09over 100over 10064.0265.0432.03-------
87 days81 days88 days83 days83 days68 days68 days69 days71 days61 days72 days53 days59 days----55 days-75 days
64 days43 days63 days78 days64 days55 days51 days50 days66 days71 days62 days61 days44 days----63 days-79 days

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.

Revenue breakdown

as filed

By activity 2019

  • Goederen €14,700,39974.3%
  • Diensten €5,080,63325.7%

Total €19,781,031

Source: 2019 accounts, page 16, filing 2020-39300039

By geographic market 2019

  • België €15,148,30276.6%
  • Europa €4,370,99622.1%
  • Buiten Europa €261,7331.3%

Total €19,781,031

Source: 2019 accounts, page 16, filing 2020-39300039

All years (2018 to 2019)

By activity

By activity20182019
Goederen€16,740,247€14,700,399
Diensten€2,670,255€5,080,633
Total€19,410,502€19,781,031

By geographic market

By geographic market20182019
België€14,683,180€15,148,302
Europa€4,577,616€4,370,996
Buiten Europa€149,706€261,733
Total€19,410,502€19,781,031

Social balance sheet

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date6057495352
full-time5454485150
part-time63122
in full-time equivalents58.956.248.552.651.6
56.751.951.554.350.9
On a permanent contract6057495352
Joined131751421
Left10991318
Training hours---288-

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20252024202320222021
Debts secured on the company's own assets€285,865€193,207€293,124€370,340€277,131
Mandates to pledge the business€123,947€123,947€123,947€123,947€123,947
Pledge on other assets, amount secured€400,000€400,000€400,000€400,000€400,000
Carrying value of the other pledged assets€515,679€565,243€526,865€622,756€777,948

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€505,991€1.0m€530,719€559,539€795,187
€596,311€580,824€547,842€530,067€368,918

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is PKF Bofidi Audit.

Item20252024202320222021
Fee for the audit€8,698€8,500€7,540€7,488€6,785

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Insights on CODIPACK

The operating result for 2025 is 5% lower than in 2024.

Debt's share of the balance-sheet total rises from 51.8% to 52.8%. Equity and debt are higher.

Board & ownership

Board

2 directors, 1 in day-to-day management, 1 auditor, last change in 2025
IMBI BV
Director, permanent representative Jonas Imberechts
since 28-08-2023 6-year term from 2023
also on the board of 2 other companies
listed in the 2025 annual accounts, filed on 31-07-2026
IMBER BV
Director and managing director, permanent representative Imberechts Walter
director current term since 30-06-2025 managing director in office according to the deed of 20-09-2019 term until 04-06-2031
listed in the 2025 annual accounts, filed on 31-07-2026
PKF Bofidi Audit
Statutory auditor, permanent representative Jeroen Rans
current term since 18-07-2024 term of 3 financial years from 2024
listed in the 2025 annual accounts, filed on 31-07-2026
IMBER
Permanent representatives 2
Imberechts Walter
Permanent representative, for IMBER
in office according to the deed of 20-09-2019
Jonas Imberechts
Permanent representative, for IMBI
appointed by deed of 14-09-2023

Office holders in the KBO →

Mandates through the years

4 names, the dashed line is today
IMBER
Director, Managing director and chair of the board
IMBI
Director
PKF Bofidi Audit
Statutory auditor
Martine Pardon
Director
LeadershipBoardEarlierRest of the termmandate already running before its first mention
Mandates as a list
  • IMBER
    • Director, since before 05-06-2019
    • Managing director and chair of the board, since before 05-06-2019
  • IMBI
    • Director, from 28-08-2023 to date
  • PKF Bofidi Audit
    • Statutory auditor, appointed by deed of 20-09-2019, still in office
  • Martine Pardon
    • Director, from before 05-06-2019 to 14-09-2023

See the board, name and registered office on a given date →

Control

Parent
IMBER
Equity €7.2m
Profit €1.7m in 2025 (profit €1.3m in 2024)
Source: accounts IMBER 2025
100%
This company
CODIPACK
Equity €7.4m
Profit €2.0m in 2025

Further up the chainIMBI 96.27%

Capital

Capital
€96,844.84
Shares
4,408 in the 2025 annual accounts
Contribution per share
€21.97
Equity per share
€1,686 in 2025
Source
deed of 14-01-2022

Owners through the years

as the annual accounts name them
IMBER
99%99.95%100%
100%
Owners as a list

Source: lists of holdings in the owners' accounts

Articles of association

deed of 14-01-2022 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
Term of at most 6 years
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Wednesday of June at 19:00

Network & group

Holdings

own 2009 accounts, the bar shows equity in euros
This companyCODIPACK1 holding, 1 country 2009 accounts

Europe 1 Equity Result

  • NL Codipack BV €121,877 result €104,719

Source: list of holdings in its own 2009 accounts. The amounts are in that list and come from the holdings' accounts at 31-12-2008, in their own currency.

Parent

IMBER
0888.596.511 · 100% of the shares · equity €7.2m · profit €1.7m (2025)

At the same address

Industrielaan 8, 2250 Olen · 4 other companies
IMBI
registered office since 21-03-2023 · founded in 2023
 total assets €24.3m (2025)
0799.733.821
IMBER
registered office since 01-01-2008 · founded in 2007
 6 FTE (2025)
0888.596.511
FonsI
registered office since 04-07-2023 · founded in 2023
 total assets €164,814 (2025)
0803.578.187
BTW-Eenheid Codipack
registered office since 01-06-2013
 founded in 2013
0534.906.993

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
CPG INVEST
via IMBI · Director · deed of 14-09-2023
Founded in 2009 · total assets €7.0m (2025)
→

Timeline

Timeline

47 events since 1990

Deadline for the 2026 accounts: 31-07-2027

2026
Reappointment: Imber (managing director)Permanent representative: Imberechts Walter · General meeting of 30-06-20255 points ▸
  • General meeting, 30-06-2025
  • Director reappointment, Imber
  • Permanent representative, Imberechts Walter
  • Board meeting, 30-06-2025
  • Director reappointment, Imber (managing director)
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2025 filed NBBfull format · on the deadline day
Reappointment: Imber (managing director and chair of the board)Permanent representative: Imberechts Walter · General meeting of 30-06-20255 points ▸
  • General meeting, 30-06-2025
  • Director reappointment, Imber
  • Permanent representative, Imberechts Walter
  • Board meeting, 30-06-2025
  • Director reappointment, Imber (managing director and chair of the board)
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

2025
Highest result from 2006 to 2025 net €2.0m ▲11.1% The net result of €2.0m is the highest of those years.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0442051566
Annual accounts 2024 filed PDFfull format · 14 days before the deadline
2024
Reappointment: PKF Bofidi Audit BV (statutory auditor)Permanent representative: Walter IMBERECHTS · General meeting of 28-07-20243 points ▸
  • General meeting, 28-07-2024
  • Auditor reappointment, PKF Bofidi Audit BV (statutory auditor)
  • Permanent representative, Walter IMBERECHTS

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFfull format · on the deadline day
2023
Equity above €5m equity €5.9m ▲24.8% Equity rises from €4.7m to €5.9m.
1 director appointed, 1 resignationResignation: Martine Pardon · Appointment: IMBI · Permanent representatives: Jonas Imberechts and Walter Imberechts · General meeting of 28-08-20235 points ▸
  • General meeting, 28-08-2023
  • Director resignation, Martine Pardon
  • Director appointment, IMBI
  • Permanent representative, Jonas Imberechts
  • Permanent representative, Walter Imberechts
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFfull format · 11 days late
2022
Annual accounts 2021 filed PDFfull format · 2 days before the deadline
Amendment of the articles3 points ▸
  • Capital, €96,844.84, 4,408 shares
  • Registered office clause, Industrielaan 8, 2250 Olen
  • Power of attorney, Jan Van Hemeldonck
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

2021
Annual accounts 2020 filed PDFfull format · 5 days before the deadline
2020
Annual accounts 2019 filed PDFfull format · 1 day before the deadline
2019
1 statutory auditor appointed, 2 directors reappointedAppointment: BB3 Audit BVBA (statutory auditor) · Reappointments: Pardon Martine and IMBER (managing director and chair of the board) · Permanent representative: Walter Imberechts · General meeting of 05-06-20198 points ▸
  • General meeting, 29-06-2018
  • Auditor appointment, BB3 Audit BVBA (statutory auditor)
  • General meeting, 05-06-2019
  • Director reappointment, Pardon Martine
  • Director reappointment, IMBER
  • Permanent representative, Walter Imberechts
  • Board meeting, 05-06-2019
  • Director reappointment, IMBER (managing director and chair of the board)

Open the deed in the Belgian Official Gazette

Annual accounts 2018 filed PDFfull format · 27 days before the deadline
2018
Annual accounts 2017 filed PDFfull format · 27 days before the deadline
2017
Equity above €2m equity €2.0m ▲5.7% Equity rises from €1.9m to €2.0m.
Annual accounts 2016 filed PDFfull format · 3 days before the deadline
2016
Annual accounts 2015 filed PDFfull format · 31 days before the deadline
2015
Annual accounts 2014 filed PDFfull format · 18 days before the deadline
2014
Annual accounts 2013 filed PDFfull format · 27 days before the deadline
2013
Annual accounts 2012 filed PDFabbreviated format · 27 days before the deadline
2012
Annual accounts 2011 filed PDFabbreviated format · 26 days before the deadline
2011
Annual accounts 2010 filed PDFabbreviated format · 31 days before the deadline
2010
Annual accounts 2009 filed PDFabbreviated format · 58 days before the deadline
2009
Annual accounts 2008 filed PDFabbreviated format · 3 days late
2008
Annual accounts 2007 filed PDFabbreviated format · 26 days late
2007
Annual accounts 2006 filed PDFabbreviated format · 7 days late
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
2004
Annual accounts 2003 filed PDFabbreviated format
2003
Annual accounts 2002 filed PDFabbreviated format
2002
Annual accounts 2001 filed PDFabbreviated format
2001
Annual accounts 2000 filed PDFabbreviated format
2000
Annual accounts 1999 filed PDFabbreviated format
1999
Annual accounts 1998 filed PDFabbreviated format
1998
Annual accounts 1997 filed PDFabbreviated format
1997
Annual accounts 1996 filed PDFabbreviated format
1996
Annual accounts 1995 filed PDFabbreviated format
1995
Annual accounts 1994 filed PDFabbreviated format
1994
Annual accounts 1993 filed PDFabbreviated format
1993
Annual accounts 1992 filed PDFabbreviated format
1992
Annual accounts 1991 filed PDFabbreviated format
1990
First establishment CODIPACK NV, Industrielaan 8, Olen
Incorporation published on 25-12-1990

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

CODIPACK was incorporated on 6 December 1990.1 Turnover grew from €19.4m in 2018 to €32.0m in 2025 and headcount from 47.8 to 56.7 full-time equivalents.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0442.051.566
VAT number
BE 0442.051.566
Peppol ID
0208:0442051566
Other Peppol ID
9925:BE0442051566
LEI code
967600I3MFQZ7QOFGO07 no longer live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
06-12-1990
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Wednesday of June at 19:00
deed of 14-01-2022 (in Dutch)
Peppol
Reachable since 04-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
CODIPACK in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 14-01-2022 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 14-01-2022 (in Dutch)

Activities

NACEBEL 2025
VAT activities
47789 Other retail sale of new goods main activity
Social security (RSZ) activities
46649 Wholesale of other machinery and equipment main activity
Joint committees annual accounts 2025
JC 149.04 Metal trade
JC 200 Auxiliary committee for white-collar workers
Codes under NACEBEL 2008
VAT activities
47789 Retail trade main activity
Social security (RSZ) activities
46699 Wholesale trade main activity
Codes under NACEBEL 2003
VAT activities
52498 main activity
Social security (RSZ) activities
51872 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Voor eigen rekening als voor rekening van derden, zowel in België als in het buitenland, de exploitatie van een adviesbureau voor ontwerpen…”
4 activities
  1. Voor eigen rekening als voor rekening van derden, zowel in België als in het buitenland, de exploitatie van een adviesbureau voor ontwerpen en toepassingen van informatica, datatransmissie en telecommunicatie, verwerking van boekhoudkundige, commerciële, administratieve en wetenschappelijke gegevens. Tevens heeft de vennootschap tot voorwerp de aankoop, verkoop en makelaardij van soft en hardware-installaties in de meest ruime betekenis
  2. Aan en verkoop, onderhoud en herstellingen van toestellen en programma’s voor productidentificatie en goederenstroombeheer
  3. De aan en verkoop van toebehoren en onderdelen
  4. Productie van etiketten, dit in de breedste zin van het woord
deed of 14-01-2022 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
CODIPACK NV registered office Industrielaan 8, 2250 Olen 1396002 Manufacture of textiles 17-12-1990 2.102.800.147

Buildings and parcels at the address

Ground area
1.4 ha
Buildings
3,149 m²
Volume, LiDAR
22,227 m³
Tallest building
10.2 m
Buildings to scale, each on its own parcel
3,149 m², 10.2 m 3,149 m², 10.2 m

Location

registered office establishment The establishment unit on the map
5 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
13029F0680/00H0001.4 ha 1 · 3,149 m² 10.2 m · 2

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