ForKoder
ActiveSummary
ForKoder has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22,202 and a net result of €16,849. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 19% of 17123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability84▼-16
Solvency41▼-46
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.18 against 2.63 in 2024; short-term debt: 83.7% and cash: 61% of total assets), and 83.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
16.3%
Return on assets
12.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 17123 sector peers (2025).
NBB · sector comparisonPosition among 17123 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 6 filingsDeviation from the deadline
2025
28 d late
2024
28 d late
2023
29 d late
2022
31 d late
2021
144 d late
2020
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 48 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€0▼ 100%
2021 · €119,330
EBIT margin
29.6%
Net result
€16,849▼ 67.5%
2024 · €51,853
Working capital
€20,261▼ 81.5%
2024 · €109,480
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
Line20212022202320242025
Turnover€119,330€0▼ 100%
Operating result€35,278▼ 41.1%€53,420▲ 51.4%€63,365▲ 18.6%€65,282▲ 3.0%€21,290▼ 67.4%
Net result€25,249▼ 41.3%€38,444▲ 52.3%€50,191▲ 30.6%€51,853▲ 3.3%€16,849▼ 67.5%
EBIT margin29.6%
Equity€71,265▲ 54.9%€109,709▲ 53.9%€109,900▲ 0.2%€110,753▲ 0.8%€22,202▼ 80.0%
Total assets€110,189▲ 54.4%€143,456▲ 30.2%€182,833▲ 27.4%€177,792▼ 2.8%€136,495▼ 23.2%
Debt€38,924▲ 53.5%€33,748▼ 13.3%€72,933▲ 116%€67,039▼ 8.1%€114,293▲ 70.5%
Working capital€70,042▲ 58.3%€106,414▲ 51.9%€107,271▲ 0.8%€109,480▲ 2.1%€20,261▼ 81.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 67% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €136,495
Fixed assets
€1,941 ▲ 52.5%
Current assets
€134,554 ▼ 23.8%
Equity and liabilities €136,495
Equity
€22,202 ▼ 80.0%
Debt
€114,293 ▲ 70.5%
Debt's share of the balance-sheet total rises from 37.7% to 83.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€22,463▼
2024 · €66,638
Cash flow
€18,022▼
2024 · €53,209
Current ratio
1.18▼
2024 · 2.63
Debt to equity
5.15▲
2024 · 0.61
ROE
75.9%▲
2024 · 46.8%
ROA
12.3%▼
2024 · 29.2%
Interest coverage
156.58▼
2024 · 465.51
Debt ≤ 1 year
€114,293▲
2024 · €67,039
Income taxes
€4,298▼
2024 · €13,287
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €119,330 | €0 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €83,039 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €870 | €1,255 | €1,380 | €1,356 | €1,173 | ▼ 13.5% |
| Other operating charges640/8 | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €36,495 | €55,023 | €65,130 | €67,025 | €22,863 | ▼ 65.9% |
| Operating profit (loss)9901 | €35,278 | €53,420 | €63,365 | €65,282 | €21,290 | ▼ 67.4% |
| Financial income75/76B | €60 | €66 | €0 | €1 | €0 | ▼ 99.1% |
| Recurring financial income75 | €60 | €66 | €0 | €1 | €0 | ▼ 99.1% |
| Financial charges65/66B | €75 | €79 | €80 | €143 | €143 | ▲ 0.2% |
| Recurring financial charges65 | €75 | €79 | €80 | €143 | €143 | ▲ 0.2% |
| Profit (loss) for the period before taxes9903 | €35,262 | €53,407 | €63,285 | €65,140 | €21,146 | ▼ 67.5% |
| Income taxes67/77 | €10,013 | €14,963 | €13,094 | €13,287 | €4,298 | ▼ 67.7% |
| Profit (loss) for the period9904 | €25,249 | €38,444 | €50,191 | €51,853 | €16,849 | ▼ 67.5% |
| Profit (loss) for the period to be appropriated9905 | €25,249 | €38,444 | €50,191 | €51,853 | €16,849 | ▼ 67.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €110,189 | €143,456 | €182,833 | €177,792 | €136,495 | ▼ 23.2% |
| Formation expenses20 | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €2,573 | €3,592 | €2,629 | €1,272 | €1,941 | ▲ 52.5% |
| Tangible fixed assets22/27 | €2,573 | €3,592 | €2,629 | €1,272 | €1,941 | ▲ 52.5% |
| Furniture and vehicles24 | €2,573 | €3,592 | €2,629 | €1,272 | €1,941 | ▲ 52.5% |
| Current assets29/58 | €107,616 | €139,864 | €180,204 | €176,519 | €134,554 | ▼ 23.8% |
| Amounts receivable within one year40/41 | €24,517 | €29,530 | €15,623 | €44,656 | €51,097 | ▲ 14.4% |
| Trade receivables40 | €23,359 | €28,768 | €15,623 | €44,656 | €42,894 | ▼ 3.9% |
| Other amounts receivable41 | €1,158 | €762 | €0 | - | €8,202 | - |
| Cash at bank and in hand54/58 | €83,024 | €110,194 | €164,482 | €131,682 | €83,235 | ▼ 36.8% |
| Deferred charges and accrued income490/1 | €75 | €140 | €99 | €182 | €222 | ▲ 22.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €110,189 | €143,456 | €182,833 | €177,792 | €136,495 | ▼ 23.2% |
| Equity10/15 | €71,265 | €109,709 | €109,900 | €110,753 | €22,202 | ▼ 80.0% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €67,000 | €105,400 | €105,400 | €105,400 | €0 | ▼ 100% |
| Distributable reserves133 | €67,000 | €105,400 | €105,400 | €105,400 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €1,265 | €1,309 | €1,500 | €2,353 | €19,202 | ▲ 716% |
| Amounts payable17/49 | €38,924 | €33,748 | €72,933 | €67,039 | €114,293 | ▲ 70.5% |
| Amounts payable within one year42/48 | €37,574 | €33,450 | €72,933 | €67,039 | €114,293 | ▲ 70.5% |
| Trade debts44 | €1,025 | €1,149 | €5 | €54 | €71 | ▲ 31.2% |
| Suppliers440/4 | €1,025 | €1,149 | €5 | €54 | €71 | ▲ 31.2% |
| Taxes, remuneration and social security45 | €36,549 | €32,301 | €22,419 | €10,116 | €9,043 | ▼ 10.6% |
| Taxes450/3 | €31,193 | €28,841 | €18,748 | €10,116 | €4,707 | ▼ 53.5% |
| Remuneration and social security454/9 | €5,356 | €3,460 | €3,671 | €0 | €4,336 | - |
| Other amounts payable47/48 | - | - | €50,509 | €56,869 | €105,179 | ▲ 84.9% |
| Accrued charges and deferred income492/3 | €1,350 | €297 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,249 | €38,444 | €50,191 | €51,853 | €16,849 | ▼ 67.5% |
| + Depreciation and write-downs630 | €870 | €1,255 | €1,380 | €1,356 | €1,173 | ▼ 13.5% |
| Operating cash flow (approximation) | €26,119 | €39,699 | €51,572 | €53,209 | €18,022 | ▼ 66.1% |
| Investment in fixed assets (approximation) | - | -€2,275 | -€417 | €0 | -€1,842 | - |
| Change in cash | - | €27,170 | €54,288 | -€32,801 | -€48,447 | ▼ 47.7% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €16,849 ▼67.5%
Net result drops to €16,849, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Highest result since 2020net €51,853 ▲3.3%
Operating result €65,282, net result €51,853, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Equity above €100,000Eq €109,709 ▲53.9%
3 profitable years in a row build equity to €109,709.
22-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 144 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Wavre · 1 establishment unit since 2019
Ground area
1,047 m²
Building footprint
132 m²
Volume, LiDAR
638 m³
Parcel 25055A0444/00Y007, Wallonia · tallest building 6.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ForKoder
since 20192.348.552.023
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25055A0444/00Y007 | Wallonia | 1,047 m² | 1 · 132 m² | 6.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900JKY0VBPLJLSP85
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Of 3,211 companies in sector 62900 we hold annual accounts for 1,742. 1,161 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
Founded19-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
62900Other information technology and computer services
62100Computer programming
Contact
Website
www.forkoder.eu
E-mail
vsvoboda@forkoder.eu
Scores and ratios are computed by Checked and are not a credit decision.