CREDES
ActiveSummary
CREDES has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €178,973 and a net result of €18,120. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 49% of 17179 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+5
Solvency84▲+8
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 0.88 in 2024; short-term debt: 16.6% and cash: 15.4% of total assets), and 41.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
58.7%
Return on assets
5.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 10 filingsDeviation from the deadline
2025
27 d late
2024
28 d late
2023
20 d late
2022
8 d late
2021
29 d late
2020
46 d early
2019
83 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€178,973▲ 11.3%
2024 · €160,853
Total assets
€304,640▼ 4.2%
2024 · €317,917
Net result
€18,120▲ 291%
2024 · €4,633
Working capital
€2,245
2024 · -€6,331
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€10,706▲ 33.3%€22,920€62,061▲ 171%€11,772▼ 81.0%€22,338▲ 89.8%
Net result-€67,936below the sector's middle half▼ 91.0%€14,110within the sector's middle half€49,809above the sector's middle half▲ 253%€4,633within the sector's middle half▼ 90.7%€18,120within the sector's middle half▲ 291%
Equity€92,301within the sector's middle half▼ 37.6%€106,411within the sector's middle half▲ 15.3%€156,220within the sector's middle half▲ 46.8%€160,853within the sector's middle half▲ 3.0%€178,973above the sector's middle half▲ 11.3%
Total assets€370,484above the sector's middle half▼ 18.3%€348,417above the sector's middle half▼ 6.0%€338,246above the sector's middle half▼ 2.9%€317,917above the sector's middle half▼ 6.0%€304,640above the sector's middle half▼ 4.2%
Debt€278,183▼ 9.0%€242,006▼ 13.0%€182,026▼ 24.8%€157,064▼ 13.7%€125,667▼ 20.0%
Working capital-€23,130▼ 13.0%-€41,502▼ 79.4%-€5,213▲ 87.4%-€6,331▼ 21.4%€2,245
Solvency24.9%below the sector's middle half▼ 7.7pp30.5%below the sector's middle half▲ 5.6pp46.2%within the sector's middle half▲ 15.6pp50.6%within the sector's middle half▲ 4.4pp58.7%within the sector's middle half▲ 8.2pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 90% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €304,640
Fixed assets
€251,728 ▼ 7.5%
Current assets
€52,912 ▲ 15.7%
Equity and liabilities €304,640
Equity
€178,973 ▲ 11.3%
Debt
€125,667 ▼ 20.0%
Debt's share of the balance-sheet total falls from 49.4% to 41.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€42,794▲
2024 · €36,021
Cash flow
€38,576▲
2024 · €28,882
Current ratio
1.04▲
2024 · 0.88
Debt to equity
0.70▼
2024 · 0.98
ROE
10.1%▲
2024 · 2.9%
ROA
5.9%▲
2024 · 1.5%
Interest coverage
9.69▲
2024 · 6.44
Debt ≤ 1 year
€50,667▼
2024 · €52,064
Debt > 1 year
€75,000▼
2024 · €105,000
Income taxes
-€189▼
2024 · €1,544
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €14,634 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,582 | €24,583 | €20,781 | €24,249 | €20,456 | ▼ 15.6% |
| Other operating charges640/8 | €21,333 | €4,455 | €4,438 | €4,606 | €4,750 | ▲ 3.1% |
| Gross operating margin9900 | €35,209 | €51,958 | €87,280 | €40,627 | €47,544 | ▲ 17.0% |
| Operating profit (loss)9901 | -€10,706 | €22,920 | €62,061 | €11,772 | €22,338 | ▲ 89.8% |
| Financial income75/76B | - | - | - | - | €10 | - |
| Recurring financial income75 | - | - | - | - | €10 | - |
| Financial charges65/66B | €57,230 | €8,946 | €6,924 | €5,595 | €4,417 | ▼ 21.1% |
| Recurring financial charges65 | €9,411 | €8,946 | €6,924 | €5,595 | €4,417 | ▼ 21.1% |
| Non-recurring financial charges66B | €47,819 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€67,936 | €13,974 | €55,137 | €6,177 | €17,931 | ▲ 190% |
| Income taxes67/77 | - | -€136 | €5,328 | €1,544 | -€189 | ▼ 112% |
| Profit (loss) for the period9904 | -€67,936 | €14,110 | €49,809 | €4,633 | €18,120 | ▲ 291% |
| Profit (loss) for the period to be appropriated9905 | -€67,936 | €14,110 | €49,809 | €4,633 | €18,120 | ▲ 291% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €370,484 | €348,417 | €338,246 | €317,917 | €304,640 | ▼ 4.2% |
| Fixed assets21/28 | €341,797 | €317,214 | €296,433 | €272,184 | €251,728 | ▼ 7.5% |
| Tangible fixed assets22/27 | €341,797 | €317,214 | €296,433 | €272,184 | €251,728 | ▼ 7.5% |
| Land and buildings22 | €341,421 | €317,171 | €296,433 | €272,184 | €251,728 | ▼ 7.5% |
| Plant, machinery and equipment23 | €376 | €43 | - | - | - | - |
| Current assets29/58 | €28,687 | €31,203 | €41,813 | €45,733 | €52,912 | ▲ 15.7% |
| Amounts receivable within one year40/41 | €12,865 | €18,601 | €17,642 | €4,773 | €6,145 | ▲ 28.7% |
| Trade receivables40 | €7,865 | €8,601 | €12,970 | €1,645 | - | - |
| Other amounts receivable41 | €5,000 | €10,000 | €4,672 | €3,128 | €6,145 | ▲ 96.5% |
| Cash at bank and in hand54/58 | €15,822 | €12,602 | €24,171 | €40,960 | €46,767 | ▲ 14.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €370,484 | €348,417 | €338,246 | €317,917 | €304,640 | ▼ 4.2% |
| Equity10/15 | €92,301 | €106,411 | €156,220 | €160,853 | €178,973 | ▲ 11.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €112,679 | €112,679 | €112,679 | €112,679 | €112,679 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | €110,820 | €110,820 | €110,820 | €110,820 | €110,820 | = |
| Profit (loss) carried forward14 | -€38,970 | -€24,860 | €24,949 | €29,582 | €47,702 | ▲ 61.3% |
| Amounts payable17/49 | €278,183 | €242,006 | €182,026 | €157,064 | €125,667 | ▼ 20.0% |
| Amounts payable after more than one year17 | €207,716 | €169,301 | €135,000 | €105,000 | €75,000 | ▼ 28.6% |
| Financial debts170/4 | €207,716 | €169,301 | €135,000 | €105,000 | €75,000 | ▼ 28.6% |
| Amounts payable within one year42/48 | €51,817 | €72,705 | €47,026 | €52,064 | €50,667 | ▼ 2.7% |
| Current portion of amounts payable after more than one year42 | €37,824 | €38,415 | €34,301 | €30,000 | €30,000 | = |
| Trade debts44 | €473 | €25,253 | €528 | €15,588 | €15,050 | ▼ 3.5% |
| Suppliers440/4 | €473 | €25,253 | €528 | €15,588 | €15,050 | ▼ 3.5% |
| Taxes, remuneration and social security45 | €7,776 | €3,293 | €6,453 | €731 | €1,831 | ▲ 150% |
| Taxes450/3 | €7,776 | €3,293 | €6,453 | €731 | €1,831 | ▲ 150% |
| Other amounts payable47/48 | €5,744 | €5,744 | €5,744 | €5,745 | €3,786 | ▼ 34.1% |
| Accrued charges and deferred income492/3 | €18,650 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€67,936 | €14,110 | €49,809 | €4,633 | €18,120 | ▲ 291% |
| + Depreciation and write-downs630 | €24,582 | €24,583 | €20,781 | €24,249 | €20,456 | ▼ 15.6% |
| Operating cash flow (approximation) | -€43,354 | €38,693 | €70,590 | €28,882 | €38,576 | ▲ 33.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€3,220 | €11,569 | €16,789 | €5,807 | ▼ 65.4% |
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
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
31-12
Financial
Equity above €150,000Eq €156,220 ▲46.8%
2 profitable years in a row build equity to €156,220.
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
31-12
Financial
Back to profitnet €14,110
Net result €14,110 after 2 loss-making years.
31-12
Financial
Equity above €100,000Eq €106,411 ▲15.3%
Equity rises from €92,301 to €106,411.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Weakest financial yearnet -€67,936
Net result drops to -€67,936, the lowest in the series; recovery starts the following year.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 83 days late
2019
31-12
Financial
Highest result since 2018net €64,177 ▲482%
Net result €64,177, the highest in the series.
Show earlier events
31-12
Financial
Equity above €150,000Eq €183,418 ▲53.8%
2 profitable years in a row build equity to €183,418.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Machelen (Brab.) · 1 establishment unit since 2001
Ground area
3,970 m²
Building footprint
595 m²
Volume, LiDAR
3,345 m³
2 parcels, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Zaventemsesteenweg 89A, 1831 Machelen (Brab.)
since 20012.073.255.135
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015A0239/00H000 | Flanders | 2,343 m² | - | - |
| 23015A0239/00G000 | Flanders | 1,626 m² | 1 · 595 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 16,911 companies in sector 62100 we hold annual accounts for 8,786. 6,770 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded25-08-1995
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455904948
Also
9925:BE0455904948
Registered
17-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.