CODITECH
ActiveSummary
CODITECH has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €249,282 and a net result of €36,291. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 68% of 1913 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+62
Solvency89▲+14
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 2.38 against 1.67 in 2024; short-term debt: 35.9% and cash: 6.7% of total assets), and 36.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
63.9%
Return on assets
9.3%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-07-2025, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 d early
2024
55 d early
2023
20 d early
2022
6 d early
2021
32 d early
2020
47 d early
2019
51 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 44 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€249,282▲ 17.0%
2024 · €212,991
Total assets
€390,412▼ 8.6%
2024 · €427,336
Net result
€36,291
2024 · -€90,084
Working capital
€193,402▲ 37.4%
2024 · €140,750
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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€263,238▲ 56.2%€177,912▼ 32.4%€97,086▼ 45.4%-€81,004€46,499
Net result€208,212above the sector's middle half▲ 61.7%€146,039above the sector's middle half▼ 29.9%€68,304above the sector's middle half▼ 53.2%-€90,084below the sector's middle half€36,291above the sector's middle half
Equity€328,731above the sector's middle half▲ 15.1%€324,771above the sector's middle half▼ 1.2%€303,075above the sector's middle half▼ 6.7%€212,991above the sector's middle half▼ 29.7%€249,282above the sector's middle half▲ 17.0%
Total assets€571,017above the sector's middle half▼ 0.8%€569,830above the sector's middle half▼ 0.2%€530,728above the sector's middle half▼ 6.9%€427,336within the sector's middle half▼ 19.5%€390,412within the sector's middle half▼ 8.6%
Debt€242,286▼ 16.4%€245,059▲ 1.1%€227,653▼ 7.1%€214,345▼ 5.8%€141,130▼ 34.2%
Working capital€71,964€153,437▲ 113%€164,629▲ 7.3%€140,750▼ 14.5%€193,402▲ 37.4%
Solvency57.6%within the sector's middle half▲ 7.9pp57.0%within the sector's middle half▼ 0.6pp57.1%within the sector's middle half▲ 0.1pp49.8%within the sector's middle half▼ 7.3pp63.9%within the sector's middle half▲ 14.0pp
Staff (FTE)3.5▲ 6.1%3.5=3.2▼ 8.6%2.9▼ 9.4%3.6▲ 24.1%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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 returns to profit in 2025: €46,499 after a loss of €81,004 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €390,412
Fixed assets
€56,808 ▼ 26.2%
Current assets
€333,604 ▼ 4.8%
Equity and liabilities €390,412
Equity
€249,282 ▲ 17.0%
Debt
€141,130 ▼ 34.2%
Debt's share of the balance-sheet total falls from 50.2% to 36.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€66,649▲
2024 · €21,014
Cash flow
€56,441▲
2024 · €11,934
Current ratio
2.38▲
2024 · 1.67
Quick ratio
1.24▲
2024 · 1.00
Debt to equity
0.57▼
2024 · 1.01
ROE
14.6%▲
2024 · -42.3%
ROA
9.3%▲
2024 · -21.1%
Interest coverage
6.63▲
2024 · 2.16
Debt ≤ 1 year
€140,202▼
2024 · €209,627
Income taxes
€161▼
2024 · €164
Staff costs
€158,722▲
2024 · €112,010
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €145,699 | €129,841 | €112,010 | €158,722 | ▲ 41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87,199 | €86,826 | €88,303 | €102,018 | €20,150 | ▼ 80.2% |
| Other operating charges640/8 | - | €559 | €37 | €599 | €11,135 | ▲ 1,758% |
| Gross operating margin9900 | €476,985 | €410,995 | €315,266 | €133,623 | €236,507 | ▲ 77.0% |
| Operating profit (loss)9901 | €263,238 | €177,912 | €97,086 | -€81,004 | €46,499 | ▲ 157% |
| Financial income75/76B | - | €1,401 | €21 | €827 | €0 | ▼ 100% |
| Recurring financial income75 | €380 | €1,401 | €21 | €827 | €0 | ▼ 100% |
| Financial charges65/66B | - | €3,814 | €5,335 | €9,743 | €10,047 | ▲ 3.1% |
| Recurring financial charges65 | €4,866 | €3,814 | €5,335 | €9,743 | €10,047 | ▲ 3.1% |
| Profit (loss) for the period before taxes9903 | €258,752 | €175,499 | €91,771 | -€89,920 | €36,452 | ▲ 141% |
| Income taxes67/77 | €50,540 | €29,459 | €23,467 | €164 | €161 | ▼ 2.0% |
| Profit (loss) for the period9904 | €208,212 | €146,039 | €68,304 | -€90,084 | €36,291 | ▲ 140% |
| Profit (loss) for the period to be appropriated9905 | €208,212 | €146,039 | €68,304 | -€90,084 | €36,291 | ▲ 140% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €571,017 | €569,830 | €530,728 | €427,336 | €390,412 | ▼ 8.6% |
| Fixed assets21/28 | €259,457 | €172,631 | €139,412 | €76,959 | €56,808 | ▼ 26.2% |
| Intangible fixed assets21 | €256,095 | €171,137 | €86,179 | €1,221 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €3,362 | €1,494 | €53,234 | €75,738 | €56,808 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | €920 | €8,915 | €37,244 | €28,101 | ▼ 24.5% |
| Furniture and vehicles24 | - | - | €44,318 | €38,494 | €28,708 | ▼ 25.4% |
| Other tangible fixed assets26 | - | €574 | €0 | - | - | - |
| Current assets29/58 | €311,560 | €397,199 | €391,315 | €350,377 | €333,604 | ▼ 4.8% |
| Stocks and contracts in progress3 | €93,830 | €96,907 | €173,801 | €141,387 | €159,271 | ▲ 12.6% |
| Stocks30/36 | - | €96,907 | €173,801 | €141,387 | €159,271 | ▲ 12.6% |
| Amounts receivable within one year40/41 | €73,960 | €177,146 | €52,584 | €126,507 | €147,193 | ▲ 16.4% |
| Trade receivables40 | - | €161,605 | €51,051 | €96,311 | €132,354 | ▲ 37.4% |
| Other amounts receivable41 | - | €15,541 | €1,533 | €30,196 | €14,839 | ▼ 50.9% |
| Cash at bank and in hand54/58 | €143,146 | €122,235 | €164,784 | €81,737 | €25,974 | ▼ 68.2% |
| Deferred charges and accrued income490/1 | - | €912 | €146 | €746 | €1,166 | ▲ 56.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €571,017 | €569,830 | €530,728 | €427,336 | €390,412 | ▼ 8.6% |
| Equity10/15 | €328,731 | €324,771 | €303,075 | €212,991 | €249,282 | ▲ 17.0% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €267,231 | €263,271 | €241,575 | €151,491 | €187,782 | ▲ 24.0% |
| Non-distributable reserves130/1 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | - | €257,121 | €235,425 | €145,341 | €181,632 | ▲ 25.0% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €242,286 | €245,059 | €227,653 | €214,345 | €141,130 | ▼ 34.2% |
| Amounts payable within one year42/48 | €239,596 | €243,762 | €226,686 | €209,627 | €140,202 | ▼ 33.1% |
| Trade debts44 | €37,644 | €56,335 | €40,602 | €44,114 | €30,715 | ▼ 30.4% |
| Suppliers440/4 | - | €56,335 | €40,602 | €44,114 | €30,715 | ▼ 30.4% |
| Taxes, remuneration and social security45 | - | €37,427 | €36,084 | €40,240 | €48,159 | ▲ 19.7% |
| Taxes450/3 | - | €9,489 | €13,126 | €21,492 | €24,490 | ▲ 14.0% |
| Remuneration and social security454/9 | - | €27,938 | €22,958 | €18,748 | €23,669 | ▲ 26.2% |
| Other amounts payable47/48 | - | €150,000 | €150,000 | €125,274 | €61,327 | ▼ 51.0% |
| Accrued charges and deferred income492/3 | - | €1,297 | €966 | €4,718 | €928 | ▼ 80.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €208,212 | €146,039 | €68,304 | -€90,084 | €36,291 | ▲ 140% |
| + Depreciation and write-downs630 | €87,199 | €86,826 | €88,303 | €102,018 | €20,150 | ▼ 80.2% |
| Operating cash flow (approximation) | €295,412 | €232,865 | €156,607 | €11,934 | €56,441 | ▲ 373% |
| Investment in fixed assets (approximation) | - | €0 | -€55,084 | -€39,564 | €0 | ▲ 100% |
| Change in cash | - | -€20,912 | €42,550 | -€83,047 | -€55,763 | ▲ 32.9% |
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
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €36,291
Net result €36,291 after one loss-making year.
2024
06-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Weakest financial yearnet -€90,084
Net result drops to -€90,084, the lowest in the series; recovery starts the following year.
2023
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €208,212 ▲61.7%
Operating result €263,238, net result €208,212, both a record.
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
07-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Menen · 1 establishment unit since 2014
Ground area
2,587 m²
Building footprint
1,000 m²
Volume, LiDAR
6,095 m³
Parcel 34372B0280/00H000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CODITECH
since 20142.230.291.207
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34372B0280/00H000 | Flanders | 2,587 m² | 1 · 1,000 m² | 7.9 m · 2 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 710 companies in sector 25510 we hold annual accounts for 410. 315 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-04-2014
Fiscal year end31-03
Activities, NACEBEL 2025
25510Coating of metals
25999Manufacture of fabricated metal products, except machinery and equipment
20160Manufacture of chemicals and chemical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0550967918
Also
9925:BE0550967918
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.