Equity
€77,093 ▼ 21.2%
GENCODE paid out €20,000 in dividends in a year with a loss of €755.
GENCODE
Overview
Lifetime
3 annual accounts with figures on one time axispeak €64,106 (2023)
€60,028▲ 114%
lowest -€755 (2025)
-€755▼ €3,617
peak €97,848 (2024)
€77,093▼ 21.2%
€40,048▲ 156%
Board6 names since 2023
2 directorsT2IM and 1 other
Documentsfilings and deeds
15-09-202646 days late
2025abbreviated format
Gross margin from €27,985 to €60,028Loss of €755Appointment: David Kauffman (director) 09-09Dividend €20,000Equity from €97,848 to €77,093Debts from €15,648 to €40,048
Key points
from the 2025 annual accountsTurnover
≈ €120,000 estimated
The accounts state no turnover.
Liquidity
2.93 was 7.26 in 2024
Short-term debts rose from €15,625 to €40,048.
Filings
3 annual accounts 2 late
The 2025 accounts came latest: 46 days after the end of the period.
At the same address
43 companies
Board
1 left
A director left. Latest change 16-12-2025 · 2 in office.
Checked score
93
Excellent
Financially stronger than 46% of micro companies in office administrative support (NACE 82)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 12,672 companies (NACE 82, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026highest value
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 46 days late; 1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 2.93, cash €70,921
Sector: Office administrative, office support and other business support activities (NACE 82)
Equity €77,093 (65.8% of total assets)
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 82, micro). It does better than 66% of them on solvency, 78% on liquidity, 21% on profitability and 21% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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).
Comparable companies, two years later
In July 2024, 2,145 companies had the same profile as GENCODE has now. Each dot stands for 6 companies, two years later.
91.7%
were still trading
5.9%
stopped another way
2.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GENCODE itself is lower: 0.1% within 12 months. It rests on far more data about GENCODE than the profile alone.
Test of the method
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 2,145 companies, not a prediction for GENCODE. 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.
Credit verdict
Credit of up to €7,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.93 (7.26 in 2024), above the usual 1.5. Short-term debt is 34.2% and cash 60.5% of total assets. 34.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 46 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-09-2026, 46 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
46 days late
2024
8 days early
2023
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 22 days after the deadline. In the sector (NACE 82), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (3 of the last 3 accounts filed within 37 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- KAUFFMAN David 85 sharesdeed of 11-01-2023
- LACOMBLE Marie 30 sharesdeed of 11-01-2023
- T2IM 85 sharesdeed of 11-01-2023
Recent changes
Appointment: David Kauffman (director)
General meeting of 23-07-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0795914494
Resignation: Marie Lacomble (director)
General meeting of 13-11-2024 · Gazette deed
Resignation: Elodie Hackin (director)
Appointment: Jacqueline Wadzialowski (director) · General meeting of 09-05-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GENCODE Liège | €117,141 | €60,028 | 65.8% | - |
| LLT MANAGEMENT Dison | €113,392 | €60,019 | 82.1% | - |
| MANAGEMENT DOGAN CAM Sprimont | €99,763 | €59,993 | 1.0% | - |
| PD Projects & Consulting Herentals | €117,414 | €63,445 | 85.2% | - |
| FerrioLab Essen | €120,582 | €57,473 | 76.7% | - |
| AXCELERATE Ghent | €117,097 | €57,118 | 7.7% | - |
| ACOVIVA Rixensart | €119,840 | €66,019 | 0.0% | - |
These companies have the same main activity as GENCODE: other business support services (NACE 82990). They are comparable in size and age: total assets between €99,800 and €121,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 09-01-2023Normal situation
- Registered office
- 44 active companies are registered at this address5 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Other business support servicesNACE 82990and 6 others
- Establishment unit
- 2.341.105.1934000 Liège, since 09-01-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 03-07-2025
Annual accounts 2025
- €60,028▲ 114%
- €755
- €77,093▼ 21.2%
- €117,141▲ 3.2%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 15-09-2026
Insights on GENCODE
GENCODE files the abbreviated format. That format states no turnover. The gross margin fell from €64,106 in 2023 to €60,028 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
abbreviated format, filed on 15-09-2026, 46 days late€60,028
▲ 114%
-€8
▼ €1,867
-€755
▼ €3,617
€77,093
▼ 21.2%
65.8%
▼ 20.4 percentage points
2.93
▼ 4.34
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 ≈ €120,000. Estimated: probably between €96,000 and €170,000.
Balance sheet
balance sheet total €117,141 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
65.8%
Higher than 70% of 2,829 companies in 2025.
2.93
Higher than 72% of 2,718 companies in 2025.
-0.6%
Higher than 23% of 2,776 companies in 2025.
GENCODE
Middle half of the sector
80% of the sector
Abbreviated accounts in office administrative support (NACE 82)
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff
€57,496
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
117,141 | 113,496 | 110,365 | |
29/58 |
117,141 | 113,496 | 110,365 | |
40/41 |
45,476 | 37,377 | 20,066 | |
40 |
37,311 | 27,956 | 16,945 | |
41 |
8,165 | 9,420 | 3,121 | |
54/58 |
70,921 | 75,672 | 90,246 | |
490/1 |
744 | 447 | 54 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
117,141 | 113,496 | 110,365 | |
10/15 |
77,093 | 97,848 | 94,986 | |
10/11 |
61,500 | 61,500 | 61,500 | |
10 |
61,500 | 61,500 | 61,500 | |
100 |
61,500 | 61,500 | 61,500 | |
14 |
15,593 | 36,348 | 33,486 | |
17/49 |
40,048 | 15,648 | 15,380 | |
42/48 |
40,048 | 15,625 | 15,380 | |
44 |
10,767 | 3,742 | 2,097 | |
440/4 |
10,767 | 3,742 | 2,097 | |
45 |
9,025 | 11,708 | 13,283 | |
450/3 |
1,681 | 10,569 | 11,472 | |
454/9 |
7,344 | 1,139 | 1,811 | |
47/48 |
20,256 | 176 | - | |
492/3 |
- | 23 | - | |
| Income statement | ||||
9900 |
60,028 | 27,985 | 64,106 | |
62 |
57,496 | 25,665 | 18,746 | |
640/8 |
1,244 | 462 | 384 | |
66A |
1,296 | - | - | |
9901 |
-8 | 1,858 | 44,976 | |
75/76B |
2 | - | - | |
75 |
2 | - | - | |
65/66B |
172 | 186 | 18 | |
65 |
172 | 186 | 18 | |
9903 |
-178 | 1,672 | 44,958 | |
67/77 |
577 | -1,190 | 11,472 | |
9904 |
-755 | 2,862 | 33,486 | |
9905 |
-755 | 2,862 | 33,486 | |
| Appropriation of the result | ||||
9906 |
35,593 | 36,348 | 33,486 | |
14P |
36,348 | 33,486 | - | |
694/7 |
20,000 | - | - | |
694 |
20,000 | - | - | |
| Social balance sheet | ||||
9087 |
1 | 0.8 | 0.6 | |
Hours worked1013 |
1,512 | 782 | 851 | |
| Document | ||||
Source: Annual accounts 2025 at the NBB, filed on 15-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 46 days after the deadline. Filed on 15 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00513240.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| -4,752 | -14,574 | - | ||
| 77,093 | 97,871 | 94,986 | ||
| 65.8% | 86.2% | 86.1% | ||
| 2.93 | 7.26 | 7.18 | ||
| 0.52 | 0.16 | 0.16 | ||
| -1.0% | 2.9% | 35.3% | ||
| -0.6% | 2.5% | 30.3% |
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| part-time | - | 0 | - |
| in full-time equivalents | 1 | - | 1 |
| 1 | 0.8 | 0.6 | |
| On a permanent contract | 1 | 1 | 1 |
| Joined | - | 1 | 2 |
| Left | - | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Insights on GENCODE
The operating result for 2025 is a loss of €8, after a profit of €1,858 in 2024. It is the lowest result since 2023.
Debt's share of the balance-sheet total rises from 13.8% to 34.2%. Equity is lower and debt is higher.
Board & ownership
Board
2 directors, no change since 2025Mandates through the years
6 names, the dashed line is todayT2IM
Director
Director
David Kauffman
Director
Director
Jacqueline Wadzialowski
Director
Director
Marie Lacomble
Director
Director
Elodie Hackin
Director
Director
T2IM
Director
Director
BoardEarlierend not dated
Mandates as a list
- T2IM
- Director, from 09-01-2023 to date
- David Kauffman
- Director, from 01-07-2025 to date
- Jacqueline Wadzialowski
- Director, appointed by deed of 28-06-2023, until 16-12-2025
- Marie Lacomble
- Director, from 09-01-2023 to 13-11-2024
- Elodie Hackin
- Director, from 09-01-2023 to 09-05-2023
- Managing director, appointed by deed of 11-01-2023, ended, last mentioned on 11-01-2023
- T2IM
- Director, appointed by deed of 11-01-2023, no longer listed in the 2025 annual accounts
Control
Capital
- Capital
- €61,500
- Shares
- 200
- Contribution per share
- €308
- Equity per share
- €385 in 2025
- Source
- deed of 11-01-2023
Articles of association
deed of 11-01-2023 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 3 directorsAt most 6 directors“Six ans au plus”“Signées par président ou au moins deux administrateurs, procès-verbaux signés par président de la réunion et majorité au moins des membres…”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Cession et transmission des actions, actions ne peuvent être cédées à tiers autre que §1 sans avoir été préalablement offertes aux autres…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of June at 18:00
Shareholders
At incorporation
deed of 11-01-2023 ↗
- KAUFFMAN David 85 shares (42.5%) · €26,137.50
- LACOMBLE Marie 30 shares (15%) · €9,225
- T2IM (BE 0795.885.691) 85 shares (42.5%) · €26,137.50
Network & group
No group
GENCODE has no parent and no holdings in its annual accounts. GENCODE shares no director with another company.
At the same address
Quai Sur Meuse 19, 4000 Liège · 43 other companies| GRAND - POSTE
establishment since 08-11-2006 · founded in 2006 · group NOSHAQ |
total assets €34.9m (2025) 0884.938.621 |
| GRAFTYS
registered office since 01-01-2022 · founded in 2017 |
4.4 FTE (2021) 0676.661.805 |
| BLOOM TECHNOLOGIES
registered office since 01-03-2023 · founded in 2014 |
7.7 FTE (2025) 0550.861.515 |
| ABV ENVIRONMENT
establishment since 01-10-2015 · founded in 2008 |
27 FTE (2025) 0898.749.144 |
| Qity
establishment since 01-07-2026 · founded in 2021 |
total assets €2.6m (2025) 0767.822.603 |
| ACTION SPORTS SPRL
registered office since 22-04-1996 · founded in 1996 · negative equity (2025) |
9.2 FTE (2025) 0457.603.042 |
| GRAND POSTE EAT & DRINK
registered office since 01-01-2021 · founded in 2020 · negative equity (2025) |
14 FTE (2025) 0758.987.782 |
| LA NICHE
establishment since 06-09-2021 · founded in 2020 |
5.4 FTE (2025) 0741.538.472 |
| Voxdale Belgium
registered office since 21-12-2023 · founded in 2023 |
1.9 FTE (2025) 1003.771.143 |
| BRASSERIES DE LIEGE
establishment since 18-12-2018 · founded in 2018 |
total assets €240,025 (2025) 0715.926.316 |
Timeline
Timeline
10 events since 2023Board
Filings
Financial
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBabbreviated format · 46 days late
2025
Weakest financial year net -€755 The net result drops to -€755, the lowest from 2023 to 2025.
- General meeting, 23-07-2025
- Director appointment, David Kauffman
- The deed holds 1 more point.
Annual accounts 2024 filed PDFmicro format · 8 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0795914494
2024
- General meeting, 13-11-2024
- Director resignation, Marie Lacomble
Annual accounts 2023 filed PDFmicro format · 28 days late
2023
Resignation: Elodie Hackin (director)Appointment: Jacqueline Wadzialowski (director) · General meeting of 09-05-20233 points ▸
- General meeting, 09-05-2023
- Director resignation, Elodie Hackin
- Director appointment, Jacqueline Wadzialowski
IncorporationFounding capital of €61,500, 200 shares · Founders: T2IM, KAUFFMAN David and LACOMBLE Marie · Appointments: HACKIN Elodie (managing director), LACOMBLE Marie and T2IM · published on 11-01-202312 points ▸
- Founder, KAUFFMAN David
- Founder, LACOMBLE Marie
- Founder, T2IM
- Founding capital, €61,500, 200 shares
- Capital, €61,500, 200 shares
- Registered office clause, quai sur Meuse 19, 4000 Liège
- Board rule, 3
- Director appointment, HACKIN Elodie
- Director appointment, LACOMBLE Marie
- Director appointment, T2IM
- Permanent representative, TAIEB Ilan
- Director appointment, HACKIN Elodie (managing director)
- The deed holds 3 more points.
First establishment Quai Sur Meuse 19, Liège
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 9 January 2023, GENCODE was incorporated as a public limited company by T2IM and two natural persons, with a starting capital of €61,500.12 Of the 2 current board members, T2IM has served longest, since 2023.3 Total assets went from €110,365 in 2023 to €117,141 in 2025 and headcount from 0.6 to 1 full-time equivalents.4
Company details
Identity
- Enterprise number
- 0795.914.494
- VAT number
- BE 0795.914.494
- Peppol ID
- 0208:0795914494
- Legal form
- Public limited company
- Status
- Active, normal situation
- Founded
- 09-01-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of June at 18:00deed of 11-01-2023 (in French)
- Peppol
- Reachable since 03-07-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- GENCODE in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 11-01-2023 (in French)
Activities
NACEBEL 2025VAT activities
82990
Other business support services main activity
Social security (RSZ) activities
73110
Advertising agencies main activity
Codes under NACEBEL 2008
VAT activities
82990
Other business support services main activity
46510
Wholesale trade
47910
Retail trade
62090
Computer programming, consultancy and related activities
70210
Activities of head offices; management consultancy activities
74103
Other professional, scientific and technical activities
Social security (RSZ) activities
73110
Advertising, market research and public relations activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “L'édition et la commercialisation de jeux vidéo et jeux électroniques sur tout support(y compris internet,CD-Rom,DVD,téléphones…”deed of 11-01-2023 (in French)
9 activities
- L'édition et la commercialisation de jeux vidéo et jeux électroniques sur tout support(y compris internet,CD-Rom,DVD,téléphones portables,lpad,Smartphones),comprenant notamment l'édition et la gestion de plateformes communautaires de joueurs en ligne,la vente d'objets virtuels via des micros-transactions sur internet et d'abonnements de jeux
- L'édition et la commercialisation de livres,BD,livres numériques,musiques,films,NFT,œuvres numériques,illustrations,concepts,et créations artistiques ou pédagogiques au sens large
- La communication,le marketing,la prestation de services pour entreprise au sens large,le conseil en communication,le conseil en vente et marketing,le conseil en marketing digital
- La conception,la gestion,la vente de sites internet,de noms de domaine,d’applications et logiciels
- L’achat et la vente de fournitures,le commerce de gros,l’import-export de fournitures
- La création,la gestion,et l’exploitation au sens large de concepts marketing,de marques,l’exploitation de franchises,le développement d'applications
- La conservation des données et leur étude
- La fabrication de produits dérivés
- La commercialisation de produits dérivés
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Quai Sur Meuse 19 registered office 4000 Liège | 09-01-2023 | 2.341.105.193 |
Buildings and parcels at the address
- Ground area
- 2,628 m²
- Buildings
- 2,281 m²
- Volume, LiDAR
- 22,761 m³
- Tallest building
- 29.8 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 62063A0748/00D000 ProtectedMonumentFaçades et toitures de l'Hôtel des Postes, sis rue de la Régence, 61 à Liège (M) et établissement d'une zone de protection (ZP)Source ↗ | 2,628 m² | 1 · 2,281 m² | 29.8 m · 3 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.