CODOTRA
ActiveSummary
CODOTRA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €106,313 and a net result of -€27,725. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 87% of 17123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-17
Solvency100=
Growth39▼-13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Liquidity ample (current ratio 54.08 against 12.52 in 2024; short-term debt: 1.4% and cash: 44.7% of total assets), and 10.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
89.2%
Return on assets
-23.2%
Age of the figures
18 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€27,725
raises risk · Filed more than 90 days late
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 11-03-2026, 131 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
131 d late
2024
48 d late
2023
on the day
2022
31 d early
2021
34 d early
2020
33 d early
2019
31 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 7 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#6 oldest company in Watermaal-Bosvoorde, Telecoms and IT sector
Turnover
€95,409▲ 8.9%
2022 · €87,646
EBIT margin
2.1%▼ 0.7pp
2022 · 2.8%
Net result
-€27,725▼ 145%
2024 · -€11,310
Working capital
€86,418▼ 6.2%
2024 · €92,135
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€108,600▲ 21.8%€87,646▼ 19.3%€95,409▲ 8.9%
Operating result€15,527▲ 21.1%€2,459▼ 84.2%€2,018▼ 17.9%-€9,284-€17,986▼ 93.7%
Net result€12,463▲ 2.4%-€1,462€1,729-€11,310-€27,725▼ 145%
EBIT margin14.3%▼ 0.1pp2.8%▼ 11.5pp2.1%▼ 0.7pp
Equity€145,081▲ 9.4%€143,619▼ 1.0%€145,348▲ 1.2%€134,038▼ 7.8%€106,313▼ 20.7%
Total assets€148,954▲ 10.6%€149,802▲ 0.6%€150,643▲ 0.6%€142,035▼ 5.7%€119,250▼ 16.0%
Debt€3,873▲ 85.7%€6,183▲ 59.7%€5,295▼ 14.4%€7,997▲ 51.0%€12,937▲ 61.8%
Working capital€145,081▲ 9.4%€143,619▼ 1.0%€92,746▼ 35.4%€92,135▼ 0.7%€86,418▼ 6.2%
Staff (FTE)11=
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17,986 in 2025 against €9,284 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €119,250
Fixed assets
€31,204 ▼ 25.5%
Current assets
€88,046 ▼ 12.1%
Equity and liabilities €119,250
Equity
€106,313 ▼ 20.7%
Debt
€12,937 ▲ 61.8%
Debt's share of the balance-sheet total rises from 5.6% to 10.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€7,287▼
2024 · €1,415
Cash flow
-€17,026▼
2024 · -€611
Current ratio
54.08▲
2024 · 12.52
Debt to equity
0.12▲
2024 · 0.06
ROE
-26.1%▼
2024 · -8.4%
ROA
-23.2%▼
2024 · -8.0%
Interest coverage
-0.76▼
2024 · 0.93
Debt ≤ 1 year
€1,628▼
2024 · €7,997
Income taxes
€138▼
2024 · €503
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,827 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €108,600 | €87,646 | €95,409 | - | - | - |
| Non-recurring operating income76A | - | - | - | €500 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €28,743 | €35,941 | - | - | - |
| Remuneration, social security and pensions62 | - | €55,000 | €55,000 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €892 | €10,699 | €10,699 | = |
| Other operating charges640/8 | - | €1,444 | €1,558 | €1,307 | €637 | ▼ 51.3% |
| Gross operating margin9900 | €71,966 | €58,903 | €59,468 | €2,722 | -€6,650 | ▼ 344% |
| Operating profit (loss)9901 | €15,527 | €2,459 | €2,018 | -€9,284 | -€17,986 | ▼ 93.7% |
| Financial charges65/66B | - | €261 | €289 | €1,523 | €9,601 | ▲ 530% |
| Recurring financial charges65 | €18 | €194 | €289 | €1,523 | €9,601 | ▲ 530% |
| Non-recurring financial charges66B | - | €67 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €15,509 | €2,198 | €1,729 | -€10,807 | -€27,587 | ▼ 155% |
| Income taxes67/77 | €3,046 | €3,660 | - | €503 | €138 | ▼ 72.6% |
| Profit (loss) for the period9904 | €12,463 | -€1,462 | €1,729 | -€11,310 | -€27,725 | ▼ 145% |
| Profit (loss) for the period to be appropriated9905 | €12,463 | -€1,462 | €1,729 | -€11,310 | -€27,725 | ▼ 145% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €148,954 | €149,802 | €150,643 | €142,035 | €119,250 | ▼ 16.0% |
| Fixed assets21/28 | - | - | €52,602 | €41,903 | €31,204 | ▼ 25.5% |
| Intangible fixed assets21 | - | - | €0 | - | - | - |
| Tangible fixed assets22/27 | - | €0 | €52,602 | €41,903 | €31,204 | ▼ 25.5% |
| Furniture and vehicles24 | - | - | €52,602 | €41,903 | €31,204 | ▼ 25.5% |
| Current assets29/58 | €148,954 | €149,802 | €98,041 | €100,132 | €88,046 | ▼ 12.1% |
| Amounts receivable within one year40/41 | €28,319 | €50,692 | €49,596 | €51,233 | €34,778 | ▼ 32.1% |
| Trade receivables40 | - | €39,219 | €28,493 | €30,069 | €20,311 | ▼ 32.5% |
| Other amounts receivable41 | - | €11,474 | €21,104 | €21,164 | €14,467 | ▼ 31.6% |
| Current investments50/53 | - | - | €48,445 | €48,899 | - | - |
| Cash at bank and in hand54/58 | €120,634 | €99,110 | - | - | €53,268 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €148,954 | €149,802 | €150,643 | €142,035 | €119,250 | ▼ 16.0% |
| Equity10/15 | €145,081 | €143,619 | €145,348 | €134,038 | €106,313 | ▼ 20.7% |
| Contributions10/11 | €69,212 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Capital10 | - | €69,212 | €69,212 | - | - | - |
| Issued capital100 | - | €69,212 | €69,212 | - | - | - |
| Outside capital11 | - | €5,156 | €5,156 | - | - | - |
| Share premium1100/10 | - | €5,156 | €5,156 | - | - | - |
| Profit (loss) carried forward14 | €70,713 | €69,251 | €70,980 | €59,670 | €31,945 | ▼ 46.5% |
| Amounts payable17/49 | €3,873 | €6,183 | €5,295 | €7,997 | €12,937 | ▲ 61.8% |
| Amounts payable within one year42/48 | €3,873 | €6,183 | €5,295 | €7,997 | €1,628 | ▼ 79.6% |
| Trade debts44 | €2,484 | €677 | €5,295 | €1,414 | €1,490 | ▲ 5.4% |
| Suppliers440/4 | - | €677 | €5,295 | €1,414 | €1,490 | ▲ 5.4% |
| Taxes, remuneration and social security45 | - | - | - | €6,583 | €138 | ▼ 97.9% |
| Taxes450/3 | - | - | - | €6,583 | €138 | ▼ 97.9% |
| Other amounts payable47/48 | - | €5,506 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €11,309 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,463 | -€1,462 | €1,729 | -€11,310 | -€27,725 | ▼ 145% |
| + Depreciation and write-downs630 | - | - | €892 | €10,699 | €10,699 | = |
| Operating cash flow (approximation) | €12,463 | -€1,462 | €2,620 | -€611 | -€17,026 | ▼ 2,687% |
| Investment in fixed assets (approximation) | - | - | - | -€0 | €0 | ▲ 100% |
| Change in cash | - | -€21,525 | - | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 131 days late
2025
31-03
Financial
Weakest financial yearnet -€27,725
Net result drops to -€27,725, the lowest in the series.
31-03
Financial
Liquidity quadruplescurrent ratio 54.08
Current ratio from 12.52 to 54.08; short-term debt falls from €7,997 to €1,628.
2024
18-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 48 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Back to profitnet €1,729
Net result €1,729 after one loss-making year.
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Highest result since 2019net €12,463 ▲2.4%
Operating result €15,527, net result €12,463, both a record.
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Liquidity times 6current ratio 64.59
Current ratio from 11.09 to 64.59; short-term debt falls from €11,934 to €2,085.
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Watermaal-Bosvoorde · 1 establishment unit since 1991
Ground area
1.2 ha
Building footprint
377 m²
Volume, LiDAR
1,423 m³
2 parcels, Brussels, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Postweg 55, 3090 Overijse
since 19912.054.842.357
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23542H0348/00K000 | Flanders | 1.0 ha | 1 · 207 m² | - |
| 21017D0057/00B017 | Brussels | 1,320 m² | 1 · 170 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,396. 15,556 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded03-10-1991
Fiscal year end31-03
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0445314330
Also
9925:BE0445314330
Registered
14-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.