CODOTRA · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of CODOTRA is 0.3% (very low). The 2025 annual accounts show equity of €106k and a net result of €-28k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 88% of 2749 sector peers (fiscal year 2025). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

2 signals · with evidence

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.

View the result trend

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 88% of 2749 peers (2025). A comfortable equity buffer.

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

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.

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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-03. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-03-2025, that is 31-10-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-03-2025	31-10-2025	11-03-2026	131 d late	2026-00052348
31-03-2024	31-10-2024	18-12-2024	48 d late	2024-00618777
31-03-2023	31-10-2023	31-10-2023	on the day	2023-00505374
31-03-2022	31-10-2022	30-09-2022	31 d early	2022-20443741
31-03-2021	31-10-2021	27-09-2021	34 d early	2021-70700272
31-03-2020	31-10-2020	28-09-2020	33 d early	2020-56500246
31-03-2019	31-10-2019	30-09-2019	31 d early	2019-67600022
31-03-2018	31-10-2018	27-09-2018	34 d early	2018-65900532
31-03-2017	31-10-2017	29-09-2017	32 d early	2017-65500314
31-03-2016	31-10-2016	26-09-2016	35 d early	2016-62200368

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 1991, 34 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.3% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Higher-failure-rate region +Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€95k+8.9%

EBIT margin2.1%-0.7pp

Net result€-28k-145.1%

Working capital€86k-6.2%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 11-03-2026 with the NBB · fiscal year 2025 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 7 fiscal years (±0.1%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 62, Computer programming & consultancy · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	89.2%	62.2%	better than 88% of 2749 sector peers
Net result	€-28k	€40k	better than 5% of 2751 sector peers
Equity	€106k	€62k	better than 69% of 2750 sector peers
Gross operating margin	€-7k	€63k	better than 5% of 2751 sector peers
Total assets	€119k	€121k	better than 49% of 2751 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P88

Stable position over 2020-2025 · n=627-7336

Net result P5

Weakening position over 2020-2025 · n=624-7333

Equity P69

Stable position over 2020-2025 · n=628-7338

Gross operating margin P5

Weakening position over 2020-2025 · n=623-7327

Describes the position versus peers, not a forecast.

Revenue

€95k

+8.9% 19-25

EBITDA

€-7k

- 19-25

Net profit

€-28k

-145.1% 19-25

Cash flow

€-17k

-2686.6% 19-25

Total assets

€119k

-16.0% 19-25

Equity

€106k

-20.7% 19-25

Working capital

€86k

-6.2% 19-25

Employees (FTE)

1

0.0% 19-25

Staff costs

€55k

0.0% 19-25

Income taxes

€138

-72.6% 19-25

Debt

€13k

+61.8% 19-25

Debt ≤ 1y

€2k

-79.6% 19-25

Current ratio

54.08

+331.9% 19-25

Quick ratio

54.08

+331.9% 19-25

Solvency

89.2%

-5.5% 19-25

Debt / equity

0.12

+104.0% 19-25

ROE

-26.1%

-209.1% 19-25

ROA

-23.2%

-192.0% 19-25

Net margin

1.8%

- 19-25

EBITDA margin

3.0%

- 19-25

Interest coverage

-0.76

- 19-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro
Revenue	-
EBITDA	€-7k
Net profit	€-28k
Cash flow	€-17k
Staff costs	-
Income taxes	€138
Dividends	-
Total assets	€119k
Equity	€106k
Debt	€13k
of which ≤ 1y	€2k
of which > 1y	-
Working capital	€86k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	54.08
Quick ratio	54.08
Working capital ratio	72.5%
Solvency	89.2%
Debt / equity	0.12
Long-term debt ratio	-
Interest coverage	-0.76
Gross margin	-
Net margin	-
ROA	-23.2%
ROE	-26.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €31k · 26.2% Current assets €88k · 73.8%

Equity & liabilities

Equity €106k · 89.2% Debt €13k · 10.9%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€119k
Fixed assets	21/28	€31k
Tangible fixed assets	22/27	€31k
Current assets	29/58	€88k
Amounts receivable within one year	40/41	€35k
Cash & bank	54/58	€53k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€119k
Equity	10/15	€106k
Contributions / capital	10/11	€74k
Accumulated profits (losses)	14	€32k
Amounts payable	17/49	€13k
Amounts payable within one year	42/48	€2k
Trade debts payable within one year	44	€1k
Income statement
Gross operating margin	9900	€-7k
Operating result	9901	€-18k
Financial charges	65	€10k
Result before taxes	9903	€-28k
Income taxes	67/77	€138
Net result for the period	9904	€-28k
Result to be appropriated	9905	€-28k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

52 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Hakhoutlaan 51170 Watermaal-Bosvoorde

Establishment units

1 location

Postweg 55, 3090 Overijse

de bouw van speel- en sportterreinen, zwembaden, enz.

since 19912.054.842.357

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1.2 ha

Buildings2

Building footprint377 m²

Volume (LiDAR)1,423 m³

Tallest building12.8 m · ±3 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

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.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

58 / 100

Mixed profile: strong on solvency, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 52

Profitability 0

Solvency 100

Growth 39

Stability 100

Ask AI about this company

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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works

Credit advice

verdict per customer and amount

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We hold annual accounts for 5,997 of the 29,850 companies in this sector. 5,085 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Computerconsultancy-activiteiten62020Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten62200Computeradviesbureaus72100

Primary activity highlighted.

Names & trade names

Legal nameNL

CODOTRA

Registered office

Hakhoutlaan 5

1170 Watermaal-Bosvoorde, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.