Turnover
≈ €230,000 estimated
The micro format states no turnover.
CODIVAR
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €382,424 (2006)
€81,334▲ 10.6%
lowest -€59,417 (2018)
€13,206▲ 143%
peak €600,325 (2014)
€373,822▲ 3.7%
€46,553▼ 46.4%
peak 6.7 FTE (2006)
-not published
Board3 names since 2017
1 directorCobbaert Dirk
Documentsfilings and deeds
14-07-202617 days before the deadline
2025micro format
Result from €5,440 to €13,206Debts from €86,810 to €46,553
Key points
from the 2025 annual accountsFilings
28 annual accounts since 1998
The last five annual accounts were filed 16 to 27 days before the end of the period.
Position in the sector
87.7%
Higher solvency than 92% of companies in crop and animal production. Sector median 32.2% · 3,723 companies.
Checked score
96
Excellent
Financially stronger than 66% of micro companies in crop and animal production (NACE 01)
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: 0.1% across 5,696 companies (NACE 01, micro).
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 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025highest value
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 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
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 06-2026
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 strengthStrong
Score breakdown
lowers risk
Equity €373,822 (87.7% of total assets)
Sector: Crop and animal production, hunting and related service activities (NACE 01)
Figures for financial year 2025 (filed on 14-07-2026)
Size: total assets €426,302
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 01, micro). It does better than 92% of them on solvency, 71% on liquidity, 54% on profitability and 47% on growth.
The bankruptcy probability was computed on 10-11-2026 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, 17,041 companies had the same profile as CODIVAR has now. Each dot stands for 43 companies, two years later.
94.4%
were still trading
4.9%
stopped another way
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CODIVAR 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.
| 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 17,041 companies, not a prediction for CODIVAR. 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 €35,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 10.54 (12.16 in 2024), above the usual 1.5. Short-term debt is 3.4% and cash 9.6% of total assets. 12.3% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
6 signals, none raises the risk
Six signals.
lowers riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €373,822
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 days early
2024
23 days early
2023
16 days early
2022
27 days early
2021
23 days early
2020
30 days early
2019
29 days 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 24 days before the deadline. In the sector (NACE 01), the median for financial year 2024 was 3 days before the deadline, and 37% 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 8 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
CD
Cobbaert Dirk
Director
- Dirk COBBAERT 570 sharesdeed of 24-05-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0461706241
Capital increase of €65,000 to €190,000
Capital from €125,000 to €190,000, 570 new shares · Contribution: Dirk COBBAERT · Appointment: POUSEELE CARON BEDRIJFSREVISOREN BV (company auditor) · General meeting of 14-05-2024 · Gazette deed
Capital decrease of €227,230.82 to €125,000
Capital from €352,230.82 to €125,000 · Change of role: huidige zaakvoerder, from manager to director · Legal-form conversion: from private limited company (pre-2019) to private limited company · Gazette deed
First establishment
Torhoutsesteenweg 10, Middelkerke
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CODIVAR Middelkerke | €426,302 | €81,334 | 87.7% | - |
| KLAUWAERTS Gistel | €463,170 | €63,527 | 96.5% | - |
| DAUROT Puurs-Sint-Amands | €480,313 | €74,196 | 46.7% | 0 |
| Ferme du Caillou - Dramaix Carine Jurbise | €488,385 | €100,017 | 83.8% | - |
| IMMOBILIERE ET AGRICOLE LE MARAIS Villers-le-Bouillet | €408,561 | €79,345 | 44.7% | - |
| BIOKIP Gouvy | €434,944 | €86,983 | 40.2% | - |
| CASSELMAN Oudenburg | €330,096 | €86,087 | 23.4% | - |
These companies have the same main activity as CODIVAR: mixed farming (NACE 01500). They are comparable in size and age: total assets between €330,000 and €488,000, founded between 1993 and 2001.
Official details
Source: KBO- Status
- Active since 17-10-1997Normal situation
- Activity
- Mixed farmingNACE 01500
- Joint committee
- 144Agriculture · annual accounts 2022
- Establishment unit
- 2.083.897.1248432 Middelkerke, since 24-10-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2024
Annual accounts 2025
- €426,302▼ 6.3%
- Filing
- Filed on 14-07-2026, 17 days before the end of the filing period
Insights on CODIVAR
CODIVAR files the micro format. That format states no turnover. The gross margin fell from €382,424 in 2006 to €81,334 in 2025.
The balance sheet grew most in 2014 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CODIVAR
- What is the company number of CODIVAR?
- The company number of CODIVAR is 0461.706.241. The VAT number is the same number with BE in front: BE 0461.706.241.
- Where is CODIVAR based?
- The registered office is at Torhoutsesteenweg 10, 8432 Middelkerke.Company details
- What does CODIVAR do?
- According to the KBO register, the main activity is mixed farming (NACE 01500).
- What is the legal form of CODIVAR?
- CODIVAR is a private limited company (BV).
- When was CODIVAR founded?
- CODIVAR was founded on 17-10-1997.
- Is CODIVAR still active?
- Yes, CODIVAR is an active enterprise in the KBO register.
- How many employees does CODIVAR have?
- CODIVAR had an average of 3 full-time equivalents in financial year 2018, according to the filed annual accounts.Financials
- Which joint committee does CODIVAR fall under?
- In its 2022 annual accounts, CODIVAR states joint committee 144 (Agriculture).
- What is the turnover of CODIVAR?
- The turnover in financial year 2025 is ≈ €230,000. This figure is estimated from the gross margin of €81,334 and 45 comparable companies (NACE 01). It probably lies between €150,000 and €320,000.
- Is CODIVAR profitable?
- In financial year 2025, CODIVAR made a profit of €13,206.
- Where can I find the annual accounts of CODIVAR?
- CODIVAR filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CODIVAR due?
- CODIVAR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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