Equity
CONDEKA paid out €96,906 in dividends. That is 224% of the 2025 profit.
CONDEKA paid out €96,906 in dividends. That is 224% of the 2025 profit.
Back in profit in 2025, after a loss of €25,126 in 2024.
Debts rose by €143,941 in 2025. A dividend stands under other debts on the balance sheet date until it is paid.
Green is investment, beige is depreciation.
The last five annual accounts were filed 30 to 114 days before the end of the period.
More equity than 91% of companies in computer programming and consultancy. Sector median €69,072 · 21,214 companies.
The dashed line is the sector median: 0.1% across 25,933 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 53% of them on solvency, 23% on liquidity, 37% on profitability and 29% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 17,811 companies had the same profile as CONDEKA has now. Each dot stands for 45 companies, two years later.
That fits the bankruptcy probability of CONDEKA itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 17,811 companies, not a prediction for CONDEKA. 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.
Liquidity is ample, with a current ratio of 2.03 (3.5 in 2024), above the usual 1.5. Short-term debt is 25.9% and cash 6.6% of total assets. 38.6% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 68 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.
| Company | ||||
|---|---|---|---|---|
| CONDEKA Waregem | €592,659 | €77,163 | 61.4% | - |
| LIST Technologies Herenthout | €572,824 | €82,443 | 92.5% | - |
| IT-TESTING Geraardsbergen | €604,194 | €81,843 | 8.5% | - |
| R-G-O CONSULTING Oupeye | €538,002 | €84,346 | 9.1% | - |
| HOLOS Gistel | €583,751 | €69,967 | 46.1% | - |
| ALFASEC Kortrijk | €438,664 | €67,950 | 49.8% | - |
| VUJA DE Kortrijk | €482,772 | €60,089 | 42.7% | - |
These companies have the same main activity as CONDEKA: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €439,000 and €604,000, founded between 2014 and 2018.
CONDEKA files the micro format. That format states no turnover. The gross margin fell from €199,631 in 2018 to €77,163 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €150,000. Estimated: probably between €130,000 and €190,000.
Higher than 52% of 21,208 companies in 2025.
Higher than 43% of 20,571 companies in 2025.
Higher than 30% of 20,746 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
592,659 | 502,414 | 517,165 | 515,488 | 732,478 | 340,556 | 290,432 | 168,032 | |
21/28 |
280,227 | 204,612 | 227,275 | 207,967 | 279,903 | 216,964 | 168,714 | 44,472 | |
22/27 |
280,227 | 204,612 | 227,275 | 207,967 | 279,903 | 28,151 | 18,375 | 25,722 | |
22 |
- | - | - | 0 | 243,110 | 25,305 | - | - | |
23 |
1,969 | 3,080 | 4,600 | 6,410 | 1,807 | 2,506 | 1,157 | - | |
24 |
15,976 | 26,036 | 37,167 | 48,381 | 2,194 | 341 | 17,218 | 25,722 | |
26 |
262,282 | 175,496 | 185,508 | 153,176 | 32,792 | - | - | - | |
28 |
- | - | - | - | 0 | 188,813 | 150,339 | 18,750 | |
29/58 |
312,432 | 297,803 | 289,890 | 307,522 | 452,575 | 123,592 | 121,717 | 123,559 | |
40/41 |
18,865 | 21,552 | 29,661 | 132,077 | 106,401 | 25,238 | 55,619 | 28,504 | |
40 |
16,865 | 14,752 | 22,361 | 122,645 | 98,847 | 25,238 | 19,612 | 25,498 | |
41 |
2,000 | 6,800 | 7,300 | 9,432 | 7,554 | 0 | 36,007 | 3,007 | |
50/53 |
229,963 | 229,963 | 153,392 | 135,128 | - | - | - | - | |
54/58 |
39,354 | 43,137 | 102,931 | 30,043 | 336,732 | 86,861 | 65,626 | 94,806 | |
490/1 |
24,250 | 3,150 | 3,906 | 10,274 | 9,442 | 11,493 | 473 | 249 | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
592,659 | 502,414 | 517,165 | 515,488 | 732,478 | 340,556 | 290,432 | 168,032 | |
10/15 |
363,686 | 417,382 | 442,508 | 485,631 | 455,127 | 179,487 | 145,721 | 128,689 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | |
11 |
- | - | - | - | - | 12,400 | - | - | |
1100/10 |
- | - | - | - | - | 12,400 | - | - | |
13 |
345,014 | 301,804 | 301,804 | 301,804 | 271,300 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | - | - | 0 | 1,860 | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | |
1311 |
- | - | - | - | 0 | - | - | - | |
1319 |
- | - | - | - | - | 1,860 | - | - | |
133 |
345,014 | 301,804 | 301,804 | 301,804 | 271,300 | - | - | - | |
14 |
72 | 96,978 | 122,103 | 165,227 | 165,227 | 165,227 | 131,461 | 114,429 | |
17/49 |
228,973 | 85,032 | 74,657 | 29,857 | 277,351 | 161,069 | 144,711 | 39,343 | |
17 |
75,206 | - | - | 0 | 212,656 | 98,804 | 98,188 | 10,609 | |
170/4 |
75,206 | - | - | 0 | 212,656 | 98,804 | 98,188 | 10,609 | |
42/48 |
153,767 | 85,032 | 74,657 | 29,357 | 64,695 | 62,265 | 46,523 | 28,734 | |
42 |
11,550 | - | - | 0 | 10,443 | 35,695 | 37,210 | 9,012 | |
43 |
- | 0 | 50,000 | - | - | - | - | - | |
430/8 |
- | 0 | 50,000 | - | - | - | - | - | |
44 |
6,350 | 3,812 | 15,330 | 12,114 | 22,094 | 594 | 1,049 | 648 | |
440/4 |
6,350 | 3,812 | 15,330 | 12,114 | 22,094 | 594 | 1,049 | 648 | |
45 |
25,839 | 7,373 | 8,036 | 11,275 | 32,157 | 25,977 | 8,265 | 19,074 | |
450/3 |
23,789 | 5,323 | 5,219 | 11,275 | 32,157 | 25,977 | 8,265 | 19,074 | |
454/9 |
2,050 | 2,050 | 2,817 | - | - | - | - | - | |
47/48 |
110,028 | 73,847 | 1,291 | 5,968 | - | - | - | - | |
492/3 |
- | - | 0 | 500 | - | - | - | - | |
| Income statement | |||||||||
76A |
22,079 | - | 0 | 13,390 | - | - | - | - | |
9900 |
77,163 | -1,898 | -23,006 | 68,897 | 47,171 | 61,078 | 33,486 | 199,631 | |
630 |
23,515 | 22,663 | 22,503 | 12,843 | 37,869 | 1,227 | 8,794 | 16,799 | |
640/8 |
759 | 712 | 460 | 1,354 | 1,000 | 599 | 1,054 | 2,143 | |
66A |
- | - | - | - | 0 | 3,545 | - | - | |
9901 |
52,889 | -25,274 | -45,968 | 54,700 | 8,302 | 55,708 | 23,639 | 180,689 | |
75/76B |
1,869 | 1,173 | 0 | 1,620 | 734,318 | 974 | 339 | 7 | |
75 |
1,869 | 1,173 | 0 | 1,620 | 3 | 974 | 339 | 7 | |
76B |
- | - | - | 0 | 734,314 | - | - | - | |
65/66B |
7,048 | 812 | -3,510 | 18,323 | 4,189 | 2,230 | 519 | 495 | |
65 |
7,048 | 812 | -3,510 | 18,323 | 4,189 | 2,230 | 519 | 495 | |
9903 |
47,710 | -24,913 | -42,457 | 37,997 | 738,430 | 54,452 | 23,459 | 180,202 | |
67/77 |
4,501 | 213 | 666 | 7,493 | 32,225 | 20,686 | 6,427 | 63,913 | |
9904 |
43,209 | -25,126 | -43,124 | 30,504 | 706,205 | 33,766 | 17,032 | 116,289 | |
9905 |
43,209 | -25,126 | -43,124 | 30,504 | 706,205 | 33,766 | 17,032 | 116,289 | |
| Appropriation of the result | |||||||||
9906 |
43,281 | 96,978 | 122,103 | 195,731 | 871,432 | 165,227 | 131,461 | 116,289 | |
14P |
72 | 122,103 | 165,227 | 165,227 | - | - | - | - | |
791/2 |
96,906 | - | - | - | - | - | - | - | |
691/2 |
43,209 | - | 0 | 30,504 | 269,440 | - | 0 | 1,860 | |
6920 |
- | - | - | - | - | - | 0 | 1,860 | |
6921 |
43,209 | - | 0 | 30,504 | 269,440 | - | - | - | |
694/7 |
96,906 | - | - | 0 | 436,765 | - | - | - | |
694 |
96,906 | - | - | 0 | 436,765 | - | - | - | |
| Document | |||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 09-03-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 09-03-2026 | 2026-00050643 | |
| 30-09-2024 | micro format | 06-01-2025 | 2025-00630454 | |
| 30-09-2023 | micro format | 01-03-2024 | 2024-00038309 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00051927 | |
| 30-09-2021 | micro format | 17-03-2022 | 2022-08300213 | |
| 30-09-2020 | abbreviated format | 18-12-2020 | 2020-76700270 | |
| 30-09-2019 | abbreviated format | 19-03-2020 | 2020-07400147 | |
| 30-09-2018 | abbreviated format | 25-03-2019 | 2019-07800526 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 76,404 | -2,610 | -23,465 | 67,543 | 46,171 | 56,935 | 32,432 | 197,488 | ||
| 66,724 | -2,462 | -20,621 | 43,347 | 744,074 | 34,993 | 25,826 | 133,087 | ||
| 112,050 | 0 | 41,811 | 184,017 | 289,621 | 66,021 | 133,036 | 61,271 | ||
| -3,783 | -59,794 | 72,888 | -306,690 | 249,872 | 21,235 | -29,180 | - | ||
| 158,665 | 212,771 | 215,233 | 278,165 | 387,880 | 61,327 | 75,194 | 94,825 | ||
| 61.4% | 83.1% | 85.6% | 94.2% | 62.1% | 52.7% | 50.2% | 76.6% | ||
| 2.03 | 3.50 | 3.88 | 10.48 | 7.00 | 1.98 | 2.62 | 4.30 | ||
| 0.63 | 0.20 | 0.17 | 0.06 | 0.61 | 0.90 | 0.99 | 0.31 | ||
| 11.9% | -6.0% | -9.7% | 6.3% | 155.2% | 18.8% | 11.7% | 90.4% | ||
| 7.3% | -5.0% | -8.3% | 5.9% | 96.4% | 9.9% | 5.9% | 69.2% | ||
| 10.84 | -3.21 | 6.68 | 3.69 | - | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €112,050 | - | €41,811 | €184,017 |
| €23,515 | €22,663 | €22,503 | €12,843 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €52,889, after a loss of €25,274 in 2024. It is the highest result since 2022.
Debt's share of the balance-sheet total rises from 16.9% to 38.6%. Equity is lower and debt is higher.
Source: list of holdings in its own 30-09-2020 accounts. Every holding stands with its own latest accounts.
| Name | 2018 | 2019 | 2020 |
|---|---|---|---|
| WORTELL GROUP BELGIUM | 37.5% | ||
Source: list of holdings in its own accounts
The connected companies are in the list below.
Deadline for the 2026 accounts: 30-04-2027
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 |
|---|---|---|
| Fazantenlaan 16 registered office 8790 Waregem 64210 Activities of holding companies | 06-12-2016 | 2.258.885.322 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 34452B0835/00Z000 | 2,449 m² | 1 · 309 m² | 7.8 m · 2 |
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