Equity
Equity fell by 58% in 7 years.
Equity fell by 58% in 7 years.
The result rose in 2025 from €110,632 to €180,338.
The micro format states no turnover.
Of this, €267,394 falls due within a year.
The 2024 accounts came 1 day late. The other nine of the last ten were filed on time.
Higher net result than 94% of companies in head offices and management consultancy. Sector median €26,448 · 41,229 companies.
In July 2024, 5,053 companies had the same profile as CODRIGIS has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 5,053 companies, not a prediction for CODRIGIS. 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.
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.
| Company | ||||
|---|---|---|---|---|
| CODRIGIS Zwevegem | €328,184 | €261,826 | 16.5% | - |
| GEDECON Beernem | €386,422 | €226,221 | 84.9% | - |
| Shaping Impact Group Brussels | €302,371 | €271,988 | 37.0% | 2.8 |
| TRANSFORMD Kapellen | €331,232 | €252,494 | 40.8% | - |
| MASH Ghent | €331,502 | €264,572 | 6.5% | - |
| LALLEMEND-CONSEILS Andenne | €354,372 | €244,243 | 92.0% | 4.8 |
| BJT CONSULTING Chastre | €336,645 | €246,169 | 4.7% | - |
These companies have the same main activity as CODRIGIS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €302,000 and €386,000, founded between 2014 and 2015.
CODRIGIS files the micro format. That format states no turnover. The gross margin rose from €28,170 in 2015 to €261,826 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
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 ≈ €370,000. Estimated: probably between €310,000 and €660,000.
Amounts without an identifiable currency are taken as euros.
Higher than 21% of 41,211 companies in 2025.
Higher than 26% of 39,782 companies in 2025.
Higher than 89% of 40,303 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||
20/58 |
328,184 | 291,985 | 253,191 | 290,858 | 243,801 | 255,871 | 249,649 | 215,881 | 197,235 | 129,394 | 108,061 | |
20 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
21/28 |
49,953 | 68,686 | 82,166 | 43,274 | 51,008 | 62,284 | 58,650 | 76,594 | 103,058 | 59,385 | 55,493 | |
21 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
22/27 |
49,953 | 68,686 | 82,166 | 43,274 | 51,008 | 62,284 | 58,650 | 76,594 | 103,058 | 59,385 | 55,493 | |
22 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
23 |
1,473 | 1,684 | 1,894 | 2,105 | - | - | - | 0 | 0 | 0 | 0 | |
24 |
28,081 | 42,395 | 57,095 | 6,064 | 3,957 | 3,107 | 7,063 | 19,170 | 31,278 | 43,385 | 55,493 | |
26 |
20,399 | 24,608 | 23,176 | 35,105 | 47,051 | 59,177 | 51,587 | 57,424 | 71,780 | 16,000 | 0 | |
27 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
28 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
29/58 |
278,231 | 223,299 | 171,025 | 247,584 | 192,793 | 193,588 | 190,999 | 139,287 | 94,177 | 70,008 | 52,568 | |
290 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
291 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
3 |
- | - | - | 0 | 2,154 | 2,154 | 2,154 | 1,070 | 0 | 0 | 0 | |
30/36 |
- | - | - | 0 | 2,154 | 2,154 | 2,154 | 1,070 | 0 | 0 | 0 | |
37 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
40/41 |
201,967 | 31,195 | 58,433 | 30,286 | 34,725 | 49,445 | 40,547 | 29,920 | 22,314 | 35,384 | 18,949 | |
40 |
167,403 | 27,890 | 56,408 | 27,943 | 24,935 | 46,820 | 22,974 | 22,080 | 22,314 | 35,384 | 18,949 | |
41 |
34,564 | 3,305 | 2,025 | 2,343 | 9,790 | 2,625 | 17,573 | 7,840 | 0 | 0 | 0 | |
50/53 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
54/58 |
72,109 | 190,277 | 109,936 | 216,308 | 155,915 | 141,989 | 148,298 | 106,359 | 69,813 | 32,634 | 33,619 | |
490/1 |
4,155 | 1,827 | 2,656 | 990 | - | - | 0 | 1,939 | 2,050 | 1,990 | 0 | |
| Balance sheet: equity and liabilities | ||||||||||||
10/49 |
328,184 | 291,985 | 253,191 | 290,858 | 243,801 | 255,871 | 249,649 | 215,881 | 197,235 | 129,394 | 108,061 | |
10/15 |
54,048 | 38,710 | 43,078 | 48,330 | 78,677 | 78,677 | 78,677 | 127,319 | 76,369 | 58,593 | 28,755 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
11 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
1100/10 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
12 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
13 |
35,448 | 20,110 | 24,478 | 29,730 | 60,077 | 60,077 | 60,077 | 108,719 | 57,769 | 39,993 | 10,155 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 508 | |
1311 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | |
1312 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
1319 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
132 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
133 |
35,448 | 20,110 | 24,478 | 27,870 | 58,217 | 58,217 | 58,217 | 106,859 | 55,909 | 38,133 | 9,647 | |
14 |
0 | 0 | 0 | 0 | - | - | - | 0 | 0 | 0 | 0 | |
15 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
160/5 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
160 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
161 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
162 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
163 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
164/5 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
168 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
17/49 |
274,136 | 253,275 | 210,113 | 242,527 | 165,124 | 177,194 | 170,971 | 88,562 | 120,866 | 70,801 | 79,306 | |
17 |
0 | 1,701 | 22,106 | 6,479 | 17,439 | 28,217 | 38,817 | 49,241 | 61,080 | 20,540 | 39,306 | |
170/4 |
0 | 1,701 | 22,106 | 6,479 | 17,439 | 28,217 | 38,817 | 49,241 | 61,080 | 20,540 | 39,306 | |
175 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
176 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
178/9 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
42/48 |
267,394 | 246,560 | 183,523 | 232,273 | 144,029 | 141,875 | 124,486 | 31,965 | 51,461 | 43,550 | 38,637 | |
42 |
1,701 | 20,406 | 26,884 | 10,960 | 10,779 | 10,600 | 10,424 | 11,839 | 29,033 | 18,766 | 17,041 | |
430/8 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
439 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
44 |
34,634 | 13,477 | 9,114 | 7,807 | 1,018 | 673 | 4,063 | 3,982 | 1,780 | 202 | 3,728 | |
440/4 |
34,634 | 13,477 | 9,114 | 7,807 | 1,018 | 673 | 4,063 | 3,982 | 1,780 | 202 | 3,728 | |
441 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
46 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
45 |
29,524 | 9,729 | 15,273 | 14,424 | 6,229 | 7,565 | 2,870 | 11,141 | 18,075 | 23,157 | 15,613 | |
450/3 |
27,174 | 7,379 | 12,923 | 11,974 | 4,349 | 4,695 | 0 | 8,271 | 15,205 | 20,287 | 12,613 | |
454/9 |
2,350 | 2,350 | 2,350 | 2,450 | 1,880 | 2,870 | 2,870 | 2,870 | 2,870 | 2,870 | 3,000 | |
47/48 |
201,536 | 202,948 | 132,252 | 199,081 | 126,003 | 123,037 | 107,129 | 5,003 | 2,572 | 1,425 | 2,256 | |
492/3 |
6,742 | 5,015 | 4,484 | 3,776 | 3,656 | 7,101 | 7,668 | 7,356 | 8,324 | 6,711 | 1,364 | |
| Income statement | ||||||||||||
70 |
- | - | - | - | - | - | - | - | 0 | 0 | 0 | |
76A |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
9900 |
261,826 | 175,467 | 182,697 | 173,324 | 146,345 | 114,070 | 94,581 | 98,442 | 59,028 | 63,367 | 28,170 | |
60/61 |
- | - | - | - | - | - | - | - | 0 | 0 | 0 | |
62 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
630 |
20,243 | 24,898 | 26,879 | 13,467 | 13,276 | 18,399 | 25,004 | 26,464 | 30,053 | 16,108 | 5,045 | |
631/4 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
635/8 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
640/8 |
2,133 | 2,086 | 1,964 | 1,501 | 1,301 | 1,348 | 1,331 | 2,889 | 1,347 | 1,208 | 1,119 | |
649 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
66A |
0 | 359 | - | - | - | - | - | 0 | 0 | 0 | 6,362 | |
9901 |
239,451 | 148,124 | 153,854 | 158,356 | 131,768 | 94,323 | 68,246 | 69,089 | 27,628 | 46,052 | 22,006 | |
75/76B |
95 | 0 | 210 | 84 | 0 | 2 | 2 | 65 | 23 | 0 | 0 | |
75 |
95 | 0 | 210 | 84 | 0 | 2 | 2 | 65 | 23 | 0 | 0 | |
76B |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
65/66B |
468 | 796 | 1,342 | 1,130 | 2,740 | 2,290 | 1,310 | 1,773 | 1,604 | 718 | 70 | |
65 |
468 | 796 | 1,342 | 1,130 | 2,740 | 2,290 | 1,310 | 1,773 | 1,604 | 718 | 70 | |
66B |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
9903 |
239,078 | 147,328 | 152,722 | 157,310 | 129,028 | 92,035 | 66,938 | 67,380 | 26,047 | 45,334 | 15,574 | |
67/77 |
58,740 | 36,695 | 37,975 | 37,657 | 30,210 | 19,875 | 15,579 | 16,431 | 8,271 | 15,496 | 5,419 | |
9904 |
180,338 | 110,632 | 114,747 | 119,653 | 98,819 | 72,160 | 51,359 | 50,950 | 17,776 | 29,838 | 10,155 | |
789 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
689 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
9905 |
180,338 | 110,632 | 114,747 | 119,653 | 98,819 | 72,160 | 51,359 | 50,950 | 17,776 | 29,838 | 10,155 | |
| Appropriation of the result | ||||||||||||
9906 |
180,338 | 110,632 | 114,747 | 119,653 | 98,819 | 72,160 | 51,359 | 50,950 | 17,776 | 29,838 | 10,155 | |
791/2 |
20,000 | 24,400 | 5,253 | 58,200 | - | 0 | 48,641 | 0 | 0 | 0 | 0 | |
691/2 |
35,338 | 20,032 | 0 | 27,853 | - | - | 0 | 50,950 | 17,776 | 29,838 | 10,155 | |
691 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
6920 |
- | - | - | - | - | - | - | 0 | 0 | 1,352 | 508 | |
6921 |
35,338 | 20,032 | 0 | 27,853 | - | - | 0 | 50,950 | 17,776 | 28,486 | 9,647 | |
694/7 |
165,000 | 115,000 | 120,000 | 150,000 | 98,819 | 72,160 | 100,000 | - | - | - | - | |
694 |
165,000 | 115,000 | 120,000 | 150,000 | 98,819 | 72,160 | 100,000 | 0 | 0 | 0 | 0 | |
695 |
- | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |
696 |
- | - | - | - | - | - | - | 0 | 0 | 0 | - | |
| Document | ||||||||||||
The notes to these accounts have 8 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 24-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00328279 | |
| 31-12-2024 | micro format | 01-08-2025 | 2025-00349894 | |
| 31-12-2023 | micro format | 18-06-2024 | 2024-00141876 | |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00256217 | |
| 31-12-2021 | micro format | 31-03-2022 | 2022-09600398 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22000555 | |
| 31-12-2019 | micro format | 15-05-2020 | 2020-12200289 | |
| 31-12-2018 | micro format | 14-05-2019 | 2019-13100303 | |
| 31-12-2017 | micro format | 05-04-2018 | 2018-09100023 | |
| 31-12-2016 | micro format | 27-04-2017 | 2017-10300084 | |
| 31-12-2015 | abbreviated format | 24-02-2016 | 2016-05000108 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 259,694 | 173,022 | 180,733 | 171,824 | 145,044 | 112,722 | 93,250 | 95,553 | 57,681 | 62,160 | 27,051 | ||
| 200,581 | 135,531 | 141,626 | 133,120 | 112,095 | 90,559 | 76,363 | 77,413 | 47,829 | 45,946 | 15,199 | ||
| 1,509 | 11,777 | 65,771 | 5,734 | 2,001 | 22,032 | 7,060 | 0 | 73,725 | 20,000 | 75,400 | ||
| -118,167 | 80,341 | -106,372 | 60,393 | 13,926 | -6,309 | 41,939 | 36,545 | 37,179 | -985 | - | ||
| 10,837 | -23,261 | -12,498 | 15,311 | 48,765 | 51,713 | 66,513 | 107,322 | 42,716 | 26,459 | 13,931 | ||
| 16.5% | 13.3% | 17.0% | 16.6% | 32.3% | 30.7% | 31.5% | 59.0% | 38.7% | 45.3% | 26.6% | ||
| 1.04 | 0.91 | 0.93 | 1.07 | 1.34 | 1.36 | 1.53 | 4.36 | 1.83 | 1.61 | 1.36 | ||
| 1.04 | 0.91 | 0.93 | 1.07 | 1.32 | 1.35 | 1.52 | 4.32 | 1.83 | 1.61 | 1.36 | ||
| 5.07 | 6.54 | 4.88 | 5.02 | 2.10 | 2.25 | 2.17 | 0.70 | 1.58 | 1.21 | 2.76 | ||
| 333.7% | 285.8% | 266.4% | 247.6% | 125.6% | 91.7% | 65.3% | 40.0% | 23.3% | 50.9% | 35.3% | ||
| 55.0% | 37.9% | 45.3% | 41.1% | 40.5% | 28.2% | 20.6% | 23.6% | 9.0% | 23.1% | 9.4% | ||
| over 100 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - |
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.
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €1,509 | €11,777 | €65,771 | €5,734 |
| €20,243 | €24,898 | €26,879 | €13,467 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 62% higher than in 2024 and the highest since 2015. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 86.7% to 83.5%. Equity and debt are higher.
CODRIGIS has no parent and no holdings in its annual accounts. is the only director. CODRIGIS shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Beekstraat 58 registered office 8550 Zwevegem | 22-07-2015 | 2.248.117.926 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34042D0464/00X000 | 3,325 m² | 1 · 239 m² | 7.6 m · 1 |
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