CODRIGO
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline27-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 03-08-2023, 3 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
3 d late
2021
4 d late
2020
19 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 4 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?Nuclys · 450 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, abbreviated schema
Turnover
€2.2m▲ 72.1%
2021 · €1.3m
EBIT margin
7.9%▼ 6.4pp
2021 · 14.2%
Net result
€108,810▼ 12.6%
2021 · €124,455
Working capital
€221,645▼ 4.1%
2021 · €231,079
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
Line202020212022
Turnover€2.0m-€1.3m▼ 35.6%€2.2m▲ 72.1%
Operating result€119,826-€180,624▲ 50.7%€171,931▼ 4.8%
Net result€67,705-€124,455▲ 83.8%€108,810▼ 12.6%
EBIT margin6.1%-14.2%▲ 8.1pp7.9%▼ 6.4pp
Equity€129,705-€254,160▲ 96.0%€259,970▲ 2.3%
Total assets€432,368-€590,943▲ 36.7%€721,294▲ 22.1%
Debt€302,663-€336,783▲ 11.3%€461,324▲ 37.0%
Working capital€158,216-€231,079▲ 46.1%€221,645▼ 4.1%
Staff (FTE)5-8.7▲ 74.0%13.6▲ 56.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 5% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €721,294
Fixed assets
€38,325 ▲ 66.0%
Current assets
€682,969 ▲ 20.3%
Equity and liabilities €721,294
Equity
€259,970 ▲ 2.3%
Debt
€461,324 ▲ 37.0%
Debt's share of the balance-sheet total rises from 57.0% to 64.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€184,939▼
2021 · €187,402
Cash flow
€121,818▼
2021 · €131,233
Current ratio
1.48▼
2021 · 1.69
Debt to equity
1.77▲
2021 · 1.33
ROE
41.9%▼
2021 · 49.0%
ROA
15.1%▼
2021 · 21.1%
Interest coverage
15.81▼
2021 · 32.01
Debt ≤ 1 year
€461,324▲
2021 · €336,783
Income taxes
€51,769▲
2021 · €50,621
Staff costs
€989,635▲
2021 · €514,528
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Turnover70 | €2.0m | €1.3m | €2.2m | ▲ 72.1% |
| Goods, raw materials, services and sundry goods60/61 | - | €598,323 | €1.1m | ▲ 76.0% |
| Remuneration, social security and pensions62 | - | €514,528 | €989,635 | ▲ 92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,673 | €6,778 | €13,008 | ▲ 91.9% |
| Other operating charges640/8 | - | €2,077 | €6,013 | ▲ 190% |
| Gross operating margin9900 | €647,347 | €704,006 | €1.2m | ▲ 67.7% |
| Operating profit (loss)9901 | €119,826 | €180,624 | €171,931 | ▼ 4.8% |
| Financial income75/76B | - | €306 | €345 | ▲ 12.6% |
| Recurring financial income75 | €107 | €306 | €345 | ▲ 12.6% |
| Financial charges65/66B | - | €5,855 | €11,697 | ▲ 99.8% |
| Recurring financial charges65 | €6,228 | €5,855 | €11,697 | ▲ 99.8% |
| Profit (loss) for the period before taxes9903 | €113,705 | €175,075 | €160,579 | ▼ 8.3% |
| Income taxes67/77 | €46,000 | €50,621 | €51,769 | ▲ 2.3% |
| Profit (loss) for the period9904 | €67,705 | €124,455 | €108,810 | ▼ 12.6% |
| Profit (loss) for the period to be appropriated9905 | €67,705 | €124,455 | €108,810 | ▼ 12.6% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €432,368 | €590,943 | €721,294 | ▲ 22.1% |
| Fixed assets21/28 | €10,806 | €23,081 | €38,325 | ▲ 66.0% |
| Tangible fixed assets22/27 | €10,806 | €23,081 | €38,325 | ▲ 66.0% |
| Plant, machinery and equipment23 | - | €23,081 | €38,325 | ▲ 66.0% |
| Current assets29/58 | €421,562 | €567,861 | €682,969 | ▲ 20.3% |
| Amounts receivable within one year40/41 | €403,589 | €538,807 | €653,894 | ▲ 21.4% |
| Trade receivables40 | - | €255,169 | €480,117 | ▲ 88.2% |
| Other amounts receivable41 | - | €283,638 | €173,777 | ▼ 38.7% |
| Cash at bank and in hand54/58 | €11,126 | €15,196 | €12,157 | ▼ 20.0% |
| Deferred charges and accrued income490/1 | - | €13,858 | €16,919 | ▲ 22.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €432,368 | €590,943 | €721,294 | ▲ 22.1% |
| Equity10/15 | €129,705 | €254,160 | €259,970 | ▲ 2.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | = |
| Reserves13 | €67,200 | €192,100 | €197,100 | ▲ 2.6% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €185,900 | €190,900 | ▲ 2.7% |
| Profit (loss) carried forward14 | €505 | €60 | €870 | ▲ 1,357% |
| Amounts payable17/49 | €302,663 | €336,783 | €461,324 | ▲ 37.0% |
| Amounts payable within one year42/48 | €263,346 | €336,783 | €461,324 | ▲ 37.0% |
| Trade debts44 | €159,691 | €157,423 | €218,250 | ▲ 38.6% |
| Suppliers440/4 | - | €157,423 | €218,250 | ▲ 38.6% |
| Taxes, remuneration and social security45 | - | €179,360 | €243,075 | ▲ 35.5% |
| Taxes450/3 | - | €119,738 | €116,540 | ▼ 2.7% |
| Remuneration and social security454/9 | - | €59,623 | €126,535 | ▲ 112% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €67,705 | €124,455 | €108,810 | ▼ 12.6% |
| + Depreciation and write-downs630 | €8,673 | €6,778 | €13,008 | ▲ 91.9% |
| Operating cash flow (approximation) | €76,378 | €131,233 | €121,818 | ▼ 7.2% |
| Investment in fixed assets (approximation) | - | -€19,054 | -€28,252 | ▼ 48.3% |
| Change in cash | - | €4,070 | -€3,039 | ▼ 175% |
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
2023
03-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 4 days late
2021
31-12
Financial
Highest result since 2020net €124,455 ▲83.8%
Operating result €180,624, net result €124,455, both a record.
31-12
Financial
Equity above €200,000Eq €254,160 ▲96%
2 profitable years in a row build equity to €254,160.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Part of the group
Nuclys
450 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Nuclys
- De Cronos Groep
- Bewire
- The Value Hub
- CODRIGO
Highest known parent: Nuclys. The sources do not say who stands above it.
Owners 1
- The Value HubparentSourceown accounts 2022100%
Holdings 0
The accounts to 31-12-2022 list no holdings, and no other source names one.
According to the 2022 annual accounts of CODRIGO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 27 EUR awarded · 27 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 27 EUR | 27 EUR |