CODROX
ActiveFrom the official registers: KBO 10 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
CODROX has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €44,448 and a net result of €6,534. Equity has been growing by about 35% per year since 2018. Its solvency ranks better than 95% of 21,130 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 26-01-2016 Normal situation
- Activity
- Computer programming NACE 62100and 2 others
- Establishment unit
- 2.250.940.032 5032 Gembloux, since 01-02-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Board and ownership
- COLLAERT JohanDirector · since 22-01-2016
- DRAUX StéphaneDirector · since 22-01-2016
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €11,374
- ▲ 100%
- Turnover
- ≈ €62,000
- estimated
- Profit
- €6,534
- ▲ 68.1%
- Equity
- €44,448
- ▲ 17.2%
- Total assets
- €45,326
- ▲ 16.2%
Score breakdownlowers riskLiquidity: current ratio 51.61, cash €40,960Sector: Computer programming, consultancy and related activities (NACE 62)Equity €44,448 (98.1% of total assets)Figures for financial year 2025 (filed on 23-06-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 85% of them on solvency, 96% on liquidity, 32% on profitability and 63% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 38 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 10 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 84% higher than in 2024. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Comparable companies
These companies have the same main activity as CODROX: computer programming (NACE 62100). They are comparable in size and age: total assets between €38,400 and €53,400, founded between 2014 and 2017.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| CODROX Gembloux | 2016 | €45,326 | €44,448 | €11,374 | €6,534 | 2025 |
| BOLDATWORK Ukkel | 2016 | €52,157 | €28,093 | €11,930 | €6,517 | 2025 |
| Lavia Solutions Gent | 2017 | €53,381 | -€63,515 | €11,721 | €7,019 | 2025 |
| ED SYS Anderlecht | 2016 | €43,493 | €13,997 | €9,025 | -€745 | 2025 |
| VOLUMATIK EUROPE Lasne | 2017 | €49,934 | €22,176 | €13,226 | €5,262 | 2025 |
| CREATIX Namur | 2014 | €51,825 | €38,519 | €11,898 | €5,806 | 2025 |
| EUTERPE SERVICES Antwerpen | 2014 | €38,394 | €36,466 | €10,879 | €5,280 | 2025 |
They were chosen from the 9,111 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 34,693 companies had the same profile as CODROX has now. Two years later, 0.7% had gone bankrupt and 95.3% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of CODROX itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 | 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 34,693 companies, not a prediction for CODROX. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,473 | €473 | €473 | - | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €1,244 | - |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €3,758 | €1,448 | €6,347 | €8,741 | €9,069 | €14,132 | €5,682 | €11,374 | ▲ 100% |
| Operating profit (loss)9901 | €1,935 | €627 | €5,526 | €8,394 | €8,721 | €13,748 | €5,295 | €9,730 | ▲ 83.8% |
| Financial income75/76B | - | - | - | - | - | - | €57 | - | - |
| Recurring financial income75 | - | - | - | - | - | - | €57 | - | - |
| Financial charges65/66B | - | - | - | €59 | €52 | €48 | €40 | €42 | ▲ 4.6% |
| Recurring financial charges65 | €48 | €48 | €51 | €59 | €52 | €48 | €40 | €42 | ▲ 4.6% |
| Profit (loss) for the period before taxes9903 | €1,887 | €579 | €5,475 | €8,335 | €8,670 | €13,700 | €5,311 | €9,688 | ▲ 82.4% |
| Income taxes67/77 | €230 | €129 | €1,482 | €2,263 | €2,272 | €3,560 | €1,424 | €3,154 | ▲ 121% |
| Profit (loss) for the period9904 | €1,657 | €450 | €3,993 | €6,072 | €6,397 | €10,141 | €3,887 | €6,534 | ▲ 68.1% |
| Profit (loss) for the period to be appropriated9905 | €1,657 | €450 | €3,993 | €6,072 | €6,397 | €10,141 | €3,887 | €6,534 | ▲ 68.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €7,567 | €7,997 | €18,126 | €21,955 | €28,232 | €38,642 | €39,017 | €45,326 | ▲ 16.2% |
| Fixed assets21/28 | €946 | €473 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €946 | €473 | - | - | - | - | - | - | - |
| Current assets29/58 | €6,621 | €7,524 | €18,126 | €21,955 | €28,232 | €38,642 | €39,017 | €45,326 | ▲ 16.2% |
| Amounts receivable within one year40/41 | €2,351 | €2,592 | €1,898 | €3,017 | €4,631 | €5,027 | €6,093 | €4,293 | ▼ 29.5% |
| Trade receivables40 | - | - | - | €3,017 | €4,631 | €4,935 | €5,987 | €3,546 | ▼ 40.8% |
| Other amounts receivable41 | - | - | - | - | - | €92 | €106 | €746 | ▲ 604% |
| Cash at bank and in hand54/58 | €4,270 | €4,831 | €16,121 | €18,833 | €23,537 | €27,243 | €32,854 | €40,960 | ▲ 24.7% |
| Deferred charges and accrued income490/1 | - | - | - | €106 | €64 | €6,372 | €70 | €74 | ▲ 4.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €7,567 | €7,997 | €18,126 | €21,955 | €28,232 | €38,642 | €39,017 | €45,326 | ▲ 16.2% |
| Equity10/15 | €6,973 | €7,423 | €11,416 | €17,489 | €23,886 | €34,027 | €37,914 | €44,448 | ▲ 17.2% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €102 | €125 | €125 | €125 | €125 | €125 | €125 | €6,625 | ▲ 53× |
| Non-distributable reserves130/1 | - | - | - | €125 | €125 | €125 | €125 | €125 | = |
| Reserves not available under the articles1311 | - | - | - | €125 | €125 | €125 | €125 | €125 | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €6,500 | - |
| Profit (loss) carried forward14 | €671 | €1,098 | €5,092 | €11,164 | €17,561 | €27,702 | €31,589 | €31,623 | ▲ 0.1% |
| Amounts payable17/49 | €594 | €574 | €6,710 | €4,467 | €4,346 | €4,616 | €1,103 | €878 | ▼ 20.4% |
| Amounts payable within one year42/48 | €594 | €574 | €3,110 | €4,467 | €4,346 | €4,616 | €1,103 | €878 | ▼ 20.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €98 | - | - | - | - |
| Trade debts44 | €364 | €215 | €131 | €600 | €271 | €3,184 | €119 | €434 | ▲ 263% |
| Suppliers440/4 | - | - | - | €600 | €271 | €3,184 | €119 | €434 | ▲ 263% |
| Taxes, remuneration and social security45 | - | - | - | €3,867 | €3,977 | €1,432 | €984 | €444 | ▼ 54.9% |
| Taxes450/3 | - | - | - | €3,867 | €3,977 | €1,432 | €984 | €444 | ▼ 54.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,657 | €450 | €3,993 | €6,072 | €6,397 | €10,141 | €3,887 | €6,534 | ▲ 68.1% |
| + Depreciation and write-downs630 | €1,473 | €473 | €473 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €3,130 | €923 | €4,467 | €6,072 | €6,397 | €10,141 | €3,887 | €6,534 | ▲ 68.1% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - | - | - | - |
| Change in cash | - | €561 | €11,290 | €2,712 | €4,704 | €3,707 | €5,610 | €8,106 | ▲ 44.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-06-2026 | 2026-00196000 | NBB |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00160147 | |
| 31-12-2023 | micro format | 20-06-2024 | 2024-00160177 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00165241 | |
| 31-12-2021 | micro format | 15-06-2022 | 2022-20068905 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-33500356 | |
| 31-12-2019 | micro format | 24-06-2020 | 2020-20800559 | |
| 31-12-2018 | micro format | 08-07-2019 | 2019-30000010 | |
| 31-12-2017 | micro format | 02-07-2018 | 2018-26300246 | |
| 31-12-2016 | micro format | 21-06-2017 | 2017-19800394 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 23-05-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| COLLAERT Johan |
|
| DRAUX Stéphane |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, personnes physiques ou morales actionnaires ou non”“Frais généraux plus frais représentation voyages déplacements, assemblée générale”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Nominatives, usufruitier et nu-propriétaire inscrits séparément avec droits respectifs”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Libre cession tout ou partie”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “En tout temps par AG formes modifications statuts”
Articles of association, deed of 23-05-2023 (in French)
Network & group
CODROX shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of CODROX. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
23-05
Gazette deed
Reappointments: DRAUX Stéphane (director) and COLLAERT Johan (director)Amendment of the articles · Capital conversion · Registered office clause12 points ▸
- General meeting, 09-05-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, EUR, “compte de capitaux propres “apports non appelés”” (deed in French)
- Other provision, “limitation compte de capitaux propres statutairement indisponible”, EUR (deed in French)
- Registered office clause, “5032 Isnes,Rue Herdal 46”, 3 (deed in French)
- Other provision, “autorisation distribution acompte sur dividendes, bénéfice de l'exercice en cours” (deed in French)
- Share issue, 100, “droit égal dans la répartition des bénéfices et des produits de la liquidation” (deed in French)
- Director reappointment, DRAUX Stéphane (director (not named in the articles))
- Director reappointment, COLLAERT Johan (director (not named in the articles))
- Registered office clause, “5032 Isnes,rue Herdal 46” (deed in French)
- Director discharge, DRAUX Stéphane
- Director discharge, COLLAERT Johan
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92065A0074/00H000 | Wallonia | 1,019 m² | 1 · 135 m² | 7.2 m · 2 |