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CODIVAR

Active Private limited companyfounded 1997active for 29 yearsTorhoutsesteenweg 10, 8432 MiddelkerkeKBO/BCE: BE 0461.706.241 #10 company by equity in Middelkerke, Agriculture, forestry and fishing sector
CODIVAR
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Overview

Lifetime

20 annual accounts with figures on one time axis, 28 filings since 1998
peak €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 accounts

Turnover

≈ €230,000 estimated

The micro format states no turnover.

Filings

28 annual accounts since 1998
AprilJune31 JulyOctober200020102020

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 strength
Strong

100=equity 87.7% of total assets
62+2short-term debt 3.4% · cash 9.6%
73+3return on assets 3.1%

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
  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet

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.

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 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.

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

6 signals, none raises the risk
Six signals.
lowers riskneutral
lowers risk · Equity €373,822 (87.7% of total assets)
NBB · annual accounts
lowers risk · Sector: Crop and animal production, hunting and related service activities (NACE 01)
KBO
lowers risk · Figures for financial year 2025 (filed on 14-07-2026)
NBB · annual accounts
lowers risk · Size: total assets €426,302
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 · 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 2025
Equity 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 filings
Deviation 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 months
Where today falls in the filing period
11-11-2026 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

CD
Cobbaert Dirk
Director
PC
Pouseele Caron Bedrijfsrevisoren BV
Auditor
  • Dirk COBBAERT 570 sharesdeed of 24-05-2024
Board & ownership

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
All 41 events

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
Company details

Annual accounts 2025

€81,334▲ 10.6%
€13,206▲ 143%
€373,822▲ 3.7%
€426,302▼ 6.3%
Filing
Filed on 14-07-2026, 17 days before the end of the filing period
Financials

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.

Financials

Annual accounts 2025

micro format, filed on 14-07-2026, 17 days before the deadline
€81,334
▲ 10.6%
€24,910
▲ 60.3%
€74,192
▲ 11.1%
€62,489
▲ 10.3%
87.7%
▲ 8.4 percentage points
10.54
▼ 1.62

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €230,000. Estimated: probably between €150,000 and €320,000.

In the rankings #10 company by equity in Middelkerke, Agriculture, forestry and fishing sector

Money flows

no detail for 2025

Balance sheet

balance sheet total €426,302 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

87.7%

Higher than 92% of 3,723 companies in 2025.

10.54

Higher than 95% of 3,646 companies in 2025.

3.1%

Higher than 54% of 3,678 companies in 2025.

CODIVAR Middle half of the sector 80% of the sector Micro accounts in crop and animal production (NACE 01)

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

Staff

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 426,302454,732410,770447,261500,001546,112766,3171.1m1.2m1.2m1.2m1.3m698,029731,195733,966806,100840,599798,341935,9481.2m
21/28 272,502311,659283,382304,656348,470416,704485,562666,787761,928775,069860,182911,320407,044416,609475,520455,476439,351586,139662,701886,929
21 ----------------4,32715,99629,89343,790
22/27 272,502311,659283,382304,656348,470416,704485,562666,787761,928775,069860,182911,320407,044416,609475,520455,476435,024570,143632,808843,140
22 255,323285,563264,099280,432341,384404,820469,883543,696620,665701,310751,098764,804262,177286,072294,771270,594299,245429,207461,722639,536
23 8452,2623,8494,1903,0683,8483,45938,40358,83946,94564,46479,05791,076107,231122,704117,076103,12991,68394,677133,861
24 16,33323,83315,43420,0344,0188,03612,22084,68882,42426,81444,62067,45853,79123,30758,04667,80632,65049,25376,40969,743
29/58 153,801143,073127,387142,605151,531129,408280,755465,606426,449411,168358,522348,920290,985314,586258,446350,624401,247212,202273,247273,445
3 2,1173,2275,83413,2737,2756,1201,457147,839156,838154,636114,49790,42582,15585,52281,94962,35029,15078,540104,134126,435
30/36 2,1173,2275,83413,2737,2756,1201,457147,839156,838154,636114,49790,42582,15585,52281,94962,35029,15078,540104,134126,435
40/41 106,858103,506104,917110,56299,86394,77093,661117,24598,07566,19467,20499,54494,92974,15772,482100,62176,42885,399117,083134,892
40 106,858103,488103,498110,47899,72094,75385,686109,71486,87763,42167,20481,83987,45773,00362,17164,17866,45176,56794,571112,218
41 0191,41984143177,9747,53211,1982,773-17,7067,4731,15510,31136,4439,9778,83222,51222,674
50/53 -------128,952143,493147,939150,826148,08292,190102,84488,456100,348----
54/58 40,85335,14015,29916,15241,77727,533184,88068,31223,11439,33622,9846,74921,71047,09314,07487,305295,67048,26352,03012,118
490/1 3,9721,2001,3382,6192,6169857573,2584,9283,0623,0124,121-4,9701,485-----
Balance sheet: equity and liabilities
10/49 426,302454,732410,770447,261500,001546,112766,3171.1m1.2m1.2m1.2m1.3m698,029731,195733,966806,100840,599798,341935,9481.2m
10/15 373,822360,616290,177284,882283,245291,874307,784525,752586,537593,465598,470600,325571,688573,931531,210499,432486,506297,957263,625206,194
10/11 190,000190,000125,000125,000125,000125,000-352,231352,231352,231352,231352,231352,23161,97361,97361,97361,97361,97361,97361,973
100 -------352,231352,231352,231352,231352,231352,23161,97361,97361,97361,97361,97361,97361,973
11 ------125,000-------------
1100/10 ------125,000-------------
13 183,822170,616165,177159,882162,459178,001182,784188,434232,938238,498242,135242,622212,617468,072437,153300,145310,550168,097168,09765,718
130 -------11,08711,08710,93510,68610,2618,2636,1976,1976,1976,1976,1976,1973,818
132 17,77821,91726,05526,57430,21645,75850,54257,15665,77074,38482,99891,979101,927111,875130,955143,947154,35211,90011,90011,900
133 166,044148,699139,122133,308132,243132,243132,243120,191156,080153,179148,451140,382102,426350,000300,000150,000150,000150,000150,00050,000
14 -----4,214-11,127--14,913-----35,67822,508137,314113,98367,88633,55478,503
15 --------1,3682,7364,1045,4726,8408,2089,576-----
16 5,9267,3068,68513,68415,55917,43419,89723,30327,81132,31936,82641,52346,71751,91161,80867,99473,352---
168 5,9267,3068,68513,68415,55917,43419,89723,30327,81132,31936,82641,52346,71751,91161,80867,99473,352---
17/49 46,55386,810111,908148,696201,197236,804438,635583,339574,029560,453583,408618,39279,624105,353140,948238,674280,740500,384672,323954,180
17 31,29874,612101,977136,840193,963228,036204,742480,187482,621512,518536,111227,77813,00043,50179,601121,301163,000360,108444,354528,131
170/4 -------161,111177,778194,444211,111227,77813,00043,50179,601121,301163,000360,108444,354528,131
178/9 31,29874,612101,977136,840193,963228,036204,742319,076304,843318,073325,000---------
42/48 14,58811,7689,59010,5887,0428,584233,893103,15190,68547,50745,326390,61463,11861,83361,289117,279117,607140,105226,757424,802
42 -------16,66716,66716,66716,66729,66730,50036,10041,70041,70056,63484,24783,80683,329
44 7,0335,0756,6307,7382,8705,0751,93262,36052,00711,5069,333142,34320,23813,8675,85766,88318,58538,69377,059234,364
440/4 7,0335,0756,6307,7382,8705,0751,93262,36052,00711,5069,333142,34320,23813,8675,85766,88318,58538,69377,059234,364
45 7,5556,6922,9612,8514,1723,5094,73114,50612,93112,00612,3827,14712,38011,86613,4758,69542,38817,16645,89212,062
450/3 7,5556,6922,9612,8514,1723,5094,7318,1365,2394,0915,2451,4991,0101,2731,2401,2556,11011,4016,329-
454/9 -------6,3707,6927,9157,1375,64811,37110,59312,2347,44136,2785,76439,56312,062
47/48 ------227,2319,6199,0807,3296,944211,457--258---20,00095,047
492/3 6684313411,267192184--7244281,971-3,5061958951331711,2121,247
Income statement
70 --------------448,692490,318624,693844,635962,5621.3m
76A -----------5609,678-1,9013,000220,8343,68650,023-
9900 81,33473,55472,42985,02774,48870,62322,828169,386204,785213,471242,468235,762188,469181,331194,801182,658225,851247,646332,122382,424
60/61 --------------265,593313,013402,505600,226634,051887,180
62 ------39086,42480,31880,17980,27879,26785,41370,57259,53248,79955,07466,548120,246156,378
630 49,28251,22457,58271,56268,23472,34286,839116,432114,091122,191129,935128,83263,27973,65688,34994,46693,982109,384120,934131,109
631/4 -------647---4,9365,583---------
640/8 7,1416,7956,5365,9686,4106,3166,6416,7776,33010,9015,4684,1183,8583,51711,4796,8254,4246,6087,8448,586
66A ------15,813-----3123,246-29,0672,479-3,828778
9901 24,91015,5358,3107,496-155-8,034-86,208-40,2474,0465,13621,20423,54535,91833,58735,44032,56872,37165,10783,09886,351
75/76B 300311100,6609,22210,0485,1149,8946,2825,9745,7348,00722,3101,2052,7223,9214,800
75 300311845,9726,1885,1149,8946,2825,9745,7348,00722,3101,2052,7223,9214,800
76B ------100,5773,2503,860-----------
65/66B 4,2616,2907,4327,6318,56510,3407,43531,97821,42917,82420,3461,62013,216-10,31517,62816,16018,58421,26825,28728,607
65 4,2616,2907,4327,6318,56510,3407,43531,97821,42917,82420,3461,62013,216-10,31517,62816,16018,58421,26825,28728,607
9903 20,6529,245878-132-8,720-18,3737,017-63,003-7,336-7,57410,75228,76738,04246,39027,72012,651273,34850,248107,92761,765
780 1,3791,3791,3791,8751,875---------------
67/77 8,8255,1855811071,785-01,1599212,73357015,9373,95511,86112,19712,4245,08311,44715,91530,49617,508
9904 13,2065,4401,6761,637-8,629-15,9109,263-59,417-5,561-3,637-48830,00631,37544,08922,20212,926188,54934,33377,43144,257
789 4,1384,1384,1383,64215,5424,7836,6148,6148,6148,6148,9819,9489,94819,08012,99210,4052,000---
689 ----------------144,453---
9905 17,3459,5785,8145,2796,913-11,12715,877-50,8033,0544,9788,49339,95341,32363,17035,19423,33146,09734,33377,43144,257
Appropriation of the result
9906 17,3459,5785,8141,065-4,214-11,127964-50,8033,0544,9788,49339,95377,00185,678172,508137,314113,98367,886155,93480,716
14P --0-4,214-11,127---------------
791/2 ------10,26135,889----247,574-------
691/2 17,3459,5785,8141,065--11,225-3,0544,9788,49339,9532,06650,000150,000---102,3802,213
6920 --------1532494251,9982,066-----2,3802,213
6921 17,3459,5785,8141,065--11,225-2,9014,7298,06937,956-50,000150,000---100,000-
694/7 ------------322,508-----20,000-
694 ------------322,508-------
695 ------------------20,000-
Social balance sheet
9087 -------333.12.82.83.23.12.52.333.75.56.7
Hours worked1013 -------5,1725,0584,9774,8764,8035,3884,7874,1993,6133,4855,1728,99511,059
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 8 older financial years (1998-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 9 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 14-07-2026.

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 micro format 14-07-2026 2026-00304305 PDF
31-12-2024 micro format 08-07-2025 2025-00248359 PDF
31-12-2023 micro format 15-07-2024 2024-00244115 PDF
31-12-2022 micro format 04-07-2023 2023-00203056 PDF
31-12-2021 micro format 08-07-2022 2022-20167778 PDF
31-12-2020 micro format 01-07-2021 2021-30000375 PDF
31-12-2019 micro format 02-07-2020 2020-25900354 PDF
31-12-2018 micro format 01-07-2019 2019-27900094 PDF
31-12-2017 micro format 29-06-2018 2018-25500594 PDF
31-12-2016 micro format 27-04-2017 2017-10000363 PDF
31-12-2015 abbreviated format 01-07-2016 2016-25900481 PDF
31-12-2014 abbreviated format 17-07-2015 2015-32200180 PDF
31-12-2013 abbreviated format 30-06-2014 2014-22800049 PDF
31-12-2012 abbreviated format 01-07-2013 2013-24300142 PDF
31-12-2011 abbreviated format 02-07-2012 2012-24000456 PDF
31-12-2010 abbreviated format 04-07-2011 2011-24200542 PDF
31-12-2009 abbreviated format 01-07-2010 2010-26500278 PDF
31-12-2008 abbreviated format 16-07-2009 2009-42400166 PDF
31-12-2007 abbreviated format 07-08-2008 2008-53800099 PDF
31-12-2006 abbreviated format 08-08-2007 2007-55100401 PDF
31-12-2005 abbreviated format 25-08-2006 2006-66300775 PDF
31-12-2004 abbreviated format 29-09-2005 2005-72404921 PDF
31-12-2003 abbreviated format 17-08-2004 2004-60004851 PDF
31-12-2002 abbreviated format 18-09-2003 2003-67404215 PDF
31-12-2001 abbreviated format 30-07-2002 2002-44004760 PDF
31-12-2000 abbreviated format 01-08-2001 2001-46701064 PDF
31-12-1999 abbreviated format 31-07-2000 2000-48001124 PDF
31-12-1998 abbreviated format 30-07-1999 1999-38801327 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
74,19266,75965,89279,05968,07964,30863176,185118,137127,327151,140152,37799,197107,242123,789127,034166,353174,490204,032217,460
62,48956,66359,25873,19959,60556,43196,10357,015108,530118,555129,448158,83894,655117,745110,551107,391282,531143,716198,364175,366
10,12579,50036,30827,74903,484-94,38621,291114,59037,07878,798636,54755,67948,991108,393232,65756,53834,23672,702239,777
5,71319,841-853-25,62514,244-157,347116,56845,198-16,22216,35216,235-14,962-25,38233,018-73,231-208,364247,407-3,76639,912-
139,213131,306117,797132,016144,489120,82446,862362,455335,763363,660313,196-41,694227,866252,753197,157233,345283,64172,09746,490-151,357
--------------7.9%6.6%11.6%7.7%8.6%6.8%
87.7%79.3%70.6%63.7%56.6%53.4%40.2%46.4%49.4%50.0%49.1%47.6%81.9%78.5%72.4%62.0%57.9%37.3%28.2%17.8%
10.5412.1613.2813.4721.5215.081.204.514.708.657.910.894.615.094.222.993.411.511.210.64
10.4011.8812.6712.2120.4914.361.193.082.975.405.380.663.313.702.882.463.160.950.750.35
0.120.240.390.520.710.811.431.110.980.940.971.030.140.180.270.480.581.682.554.63
3.5%1.5%0.6%0.6%-3.0%-5.5%3.0%-11.3%-0.9%-0.6%-0.1%5.0%5.5%7.7%4.2%2.6%38.8%11.5%29.4%21.5%
3.1%1.2%0.4%0.4%-1.7%-2.9%1.2%-5.2%-0.5%-0.3%0.0%2.4%4.5%6.0%3.0%1.6%22.4%4.3%8.3%3.8%
17.4110.618.8710.367.95---------------
--------------51 days48 days39 days33 days36 days32 days
--------------8 days78 days17 days24 days44 days96 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.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€10,125€79,500€36,308--
Financial fixed assets€0----
€49,282€51,224€57,582€71,562€68,234

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

Insights on CODIVAR

The operating result for 2025 is 60% higher than in 2024 and the highest since 2013. It is the sixth rise in a row, after the fall in 2019.

Debt's share of the balance-sheet total falls from 19.1% to 10.9%. Equity is higher and debt is lower.

Board & ownership

Board

1 director, 1 auditor, last change in 2019
Cobbaert Dirk
Director
listed in the 2025 annual accounts, filed on 14-07-2026
Pouseele Caron Bedrijfsrevisoren BV
Company auditor
appointed by deed of 24-05-2024
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 11-12-2019

Office holders in the KBO →

Mandates through the years

3 names, the dashed line is today
Cobbaert Dirk
Director
Pouseele Caron Bedrijfsrevisoren BV
Company auditor
huidige zaakvoerder
Director (not named in the articles)
BoardEarlierend not dated
Mandates as a list
  • Cobbaert Dirk
    • Director, from 30-03-2017 to date
  • Pouseele Caron Bedrijfsrevisoren BV
    • Company auditor, appointed by deed of 24-05-2024, still in office
  • huidige zaakvoerder
    • Director (not named in the articles), appointed by deed of 11-12-2019, no longer listed in the 2025 annual accounts

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

Control

Subscriber
Dirk COBBAERT
This company
CODIVAR
Equity €373,822
Profit €13,206 in 2025

Capital

Capital
€190,000
Source
deed of 24-05-2024

Articles of association

deed of 11-12-2019 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Voor het overige bepalingen Wetboek van Vennootschappen en verenigingen, geen rechtsmiddel open tegen beslissing derde deskundige”
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Een-of-meerdere-vereffenaars-aanduiden-bevoegdheden-omlijnen-vergoeding-bepalen…”

Shareholders

After the capital increase deed of 24-05-2024 ↗
  • Dirk COBBAERT 570 shares · €65,000 in kind

Capital transactions

Capital over time
  1. 24-05-2024 Capital increase of €65,000 · to €190,000 · 570 new shares · in kind
  2. 11-12-2019 Capital reduction of €227,230.82 · to €125,000 · repaid to the shareholders
  3. 11-12-2019 Converted to unavailable equity

Network & group

No group

CODIVAR has no parent and no holdings in its annual accounts. Cobbaert Dirk is the only director. CODIVAR shares no director with another company.

At the same address

Torhoutsesteenweg 10, 8432 Middelkerke · 1 other company
BERESLIM
registered office since 01-10-2023 · founded in 2023
 total assets €1.6m (2025)
1000.488.880

Timeline

Timeline

41 events since 1997

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 17 days before the deadline
2025
Annual accounts 2024 filed PDFmicro format · 23 days before the deadline
2024
Registered in the Peppol Directory Reachable for e-invoices through 0208:0461706241
Annual accounts 2023 filed PDFmicro format · 16 days before the deadline
Capital increase of €65,000 to €190,000Capital from €125,000 to €190,000, 570 new shares · Contribution: Dirk COBBAERT · Appointment: POUSEELE CARON BEDRIJFSREVISOREN BV (company auditor) · General meeting of 14-05-20248 points ▸
  • General meeting, 14-05-2024
  • Auditor appointment, POUSEELE CARON BEDRIJFSREVISOREN BV (company auditor)
  • Permanent representative, POUSEELE Bruno
  • Capital increase, €65,000
  • Capital contribution, €65,000
  • Real estate, €4,490
  • Real estate, €3,586
  • Power of attorney, Dominique VERHAEGHE
  • The deed holds 5 more points.

Open the deed in the Belgian Official Gazette

2023
Annual accounts 2022 filed PDFmicro format · 27 days before the deadline
2022
Back to profit net €1,637 The net result is €1,637, after 2 loss-making years.
Annual accounts 2021 filed PDFmicro format · 23 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 30 days before the deadline
2020
Liquidity more than 12 times current ratio 15.08 The current ratio rises from 1.20 to 15.08. Short-term debt falls from €233,893 to €8,584.
Annual accounts 2019 filed PDFmicro format · 29 days before the deadline
2019
Back to profit net €9,263 The net result is €9,263, after 4 loss-making years.
Capital decrease of €227,230.82 to €125,000Capital 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 company7 points ▸
  • Capital decrease, €227,230.82
  • Legal-form conversion, from private limited company (pre-2019) to private limited company
  • Power of attorney, Dominique Verhaeghe
  • Registered office clause, Torhoutsesteenweg 10
  • Director resignation, huidige zaakvoerder (manager)
  • Director appointment, huidige zaakvoerder (director (not named in the articles))
  • Director discharge, huidige zaakvoerder
  • The deed holds 9 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2018 filed PDFmicro format · 30 days before the deadline
2018
Weakest financial year net -€59,417 The net result drops to -€59,417, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2017 filed PDFmicro format · 32 days before the deadline
2017
Annual accounts 2016 filed PDFmicro format · 95 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 30 days before the deadline
2015
Liquidity more than 8 times current ratio 7.91 The current ratio rises from 0.89 to 7.91. Short-term debt falls from €390,614 to €45,326.
Annual accounts 2014 filed PDFabbreviated format · 14 days before the deadline
2014
Annual accounts 2013 filed PDFabbreviated format · 31 days before the deadline
2013
Annual accounts 2012 filed PDFabbreviated format · 30 days before the deadline
2012
Annual accounts 2011 filed PDFabbreviated format · 29 days before the deadline
2011
Equity above €500,000 equity €531,210 ▲6.4% With a profit in every financial year since 2006, equity grows to €531,210.
Annual accounts 2010 filed PDFabbreviated format · 27 days before the deadline
2010
Annual accounts 2009 filed PDFabbreviated format · 30 days before the deadline
2009
Highest result from 2006 to 2025 net €188,549 ▲449% The net result of €188,549 is the highest of those years.
Liquidity more than doubled current ratio 3.41 The current ratio rises from 1.51 to 3.41. Short-term debt falls from €140,105 to €117,607.
Annual accounts 2008 filed PDFabbreviated format · 15 days before the deadline
2008
Annual accounts 2007 filed PDFabbreviated format · 7 days late
2007
Annual accounts 2006 filed PDFabbreviated format · 8 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
1997
First establishment Torhoutsesteenweg 10, Middelkerke
Incorporation published on 30-10-1997

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

CODIVAR was incorporated on 17 October 1997.1 In 2024 the capital was increased by €65,000 to €190,000.2 Total assets fell from €1.1m in 2018 to €426,302 in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 24-05-2024
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0461.706.241
VAT number
BE 0461.706.241
Peppol ID
0208:0461706241
Other Peppol ID
9925:BE0461706241
Legal form
Private limited company
Status
Active, normal situation
Founded
17-10-1997
Financial year
ends on 31 December
Peppol
Reachable since 19-12-2024Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
CODIVAR in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 11-12-2019 (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 11-12-2019 (in Dutch)

Activities

NACEBEL 2025
01500 Mixed farming main activity
Joint committees annual accounts 2022
JC 144 Agriculture
Codes under NACEBEL 2008
01500 Crop and animal production, hunting and related service activities main activity
Codes under NACEBEL 2003
01300 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“De landbouw en veeteelt; Groothandel in landbouwbenodigdheden en uitrusting; Handel in levende dieren; Het…”
9 activities
  1. De landbouw en veeteelt
  2. Groothandel in landbouwbenodigdheden en uitrusting
  3. Handel in levende dieren
  4. Het huren,verhuren,pachten,verpachten,aankopen en verkopen van roerende en onroerende goederen
  5. Het houden en fokken van paarden
  6. Het uitbaten van een paardenmanège
  7. Alle activiteiten omtrent hoevetoerisme
  8. Aan- en verkoop en distributie van diverse goederen
  9. Handel in en productie van groenten en fruit
deed of 11-12-2019 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Torhoutsesteenweg 10 registered office 8432 Middelkerke 24-10-1997 2.083.897.124

Buildings and parcels at the address

Ground area
2,322 m²
Buildings
200 m²
Volume, LiDAR
1,049 m³
Tallest building
10.4 m
Buildings to scale, each on its own parcel
200 m², 10.4 m 200 m², 10.4 m

Location

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

Parcels

Cadastral parcelArea Buildings Height / floors
35008B0882/00H0002,322 m² 1 · 200 m² 10.4 m · 2

Contact

E-mail ki.cobbaert@telenet.be

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