Equity
-€809
Debts exceed assets in financial year 2025.
GreyCode
Overview
Lifetime
2 annual accounts with figures on one time axispeak -€1,639 (2024)
-€3,348▼ €1,709
lowest -€4,170 (2025)
-€4,170▼ €2,531
peak €3,361 (2024)
-€809▼ €4,170
€3,930▲ 108%
Board1 name since 2024
1 directorDEGRYSE Tom Johan Nicole
Documentsfilings and deeds
21-04-20269 days before the deadline
2025micro format
Gross margin from -€1,639 to -€3,348Loss of €4,170Equity from €3,361 to -€809Debts from €1,894 to €3,930Cash from €5,000 to €627
Key points
from the 2025 annual accountsLosses
-€5,809 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Investments
€3,089 4.1 × depreciation
Green is investment, beige is depreciation.
Turnover not published (micro format)
Checked score
52
Fair
Financially stronger than 5% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,933 companies (NACE 62, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
10-2025: < 0.1%lowest value
11-2025: < 0.1%● unchanged vs 10-2025lowest value
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: 0.1%▲ +0.1 percentage points 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: 0.3%▲ +0.2 percentage points vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.4%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.3%▼ -0.1 percentage points vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€809
Loss of €4,170, the second in a row (financial year 2025)
lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Size: total assets €3,121
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 3% of them on solvency, 9% on liquidity, 5% on profitability and 3% 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).
Comparable companies, two years later
In July 2024, 7,639 companies had the same profile as GreyCode has now. Each dot stands for 20 companies, two years later.
84.7%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GreyCode itself is lower: 0.3% within 12 months. It rests on far more data about GreyCode 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 7,639 companies, not a prediction for GreyCode. 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
No credit on open account
The balance sheet total is too small for a liquidity verdict. Equity is negative.
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
Seven signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2425
2024 to 2025 · latest year -€809
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 21-04-2026, 9 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
9 days early
2024
27 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 18 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)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1013725125
Incorporation
Founding capital of €5,000, 50 shares · Founder: DEGRYSE Tom Johan Nicole · Appointment: DEGRYSE Tom Johan Nicole (director) · published on 20-09-2024 · Gazette deed
First establishment
Oud-Smetlede 111, Lede
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GreyCode Lede | €3,121 | -€3,348 | -25.9% | - |
| DTV Technologies Ixelles | €2,975 | -€5,359 | -37.8% | - |
| LG-IT Brugelette | €2,975 | -€9,660 | -301.4% | - |
| Beyond Craft Dilbeek | €3,125 | -€3,642 | 95.0% | - |
| JDH SRL Ottignies-Louvain-la-Neuve | €3,512 | -€13,115 | 11.2% | - |
| HOOFDVOGEL Zoersel | €3,442 | -€22,354 | -562.0% | - |
| Oraston Sint-Truiden | €3,366 | -€899 | -5.9% | - |
These companies have the same main activity as GreyCode: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €2,970 and €3,510, founded in 2024.
Official details
Source: KBO- Status
- Active since 18-09-2024Normal situation
- Activity
- Computer consultancy and computer facilities managementNACE 62200and 5 others
- Establishment unit
- 2.363.813.6859340 Lede, since 18-09-2024
- Financial year end
- 30 September
- Peppol
- Reachable since 28-09-2024
Annual accounts to 30-09-2025
- -€3,348▼ 104%
- €4,170▲ 154%
- -€809
- €3,121▼ 40.6%
- Filing
- Filed on 21-04-2026, 9 days before the end of the filing period
Insights on GreyCode
GreyCode has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€809) and a net result of -€4,170.
Its solvency ranks better than 5% of 21,208 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 21-04-2026, 9 days before the deadline-€3,348
▼ €1,709
-€4,171
▼ €2,532
-€4,170
▼ €2,531
-€3,141
▼ €6,501
-
-
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €3,121 on 30-09-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
-
Higher than 51% of 20,537 companies in 2024.
-
Higher than 52% of 19,921 companies in 2024.
-
Lower than 95% of 20,101 companies in 2024.
GreyCode
Middle half of the sector
80% of the sector
Micro accounts in computer programming and consultancy (NACE 62)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
3,121 | 5,255 | |
21/28 |
2,332 | - | |
22/27 |
2,332 | - | |
23 |
1,416 | - | |
24 |
916 | - | |
29/58 |
789 | 5,255 | |
40/41 |
162 | 255 | |
41 |
162 | 255 | |
54/58 |
627 | 5,000 | |
| Balance sheet: equity and liabilities | |||
10/49 |
3,121 | 5,255 | |
10/15 |
-809 | 3,361 | |
10/11 |
5,000 | 5,000 | |
14 |
-5,809 | -1,639 | |
17/49 |
3,930 | 1,894 | |
42/48 |
3,930 | 1,894 | |
47/48 |
3,930 | 1,894 | |
| Income statement | |||
9900 |
-3,348 | -1,639 | |
630 |
757 | - | |
640/8 |
66 | - | |
9901 |
-4,171 | -1,639 | |
75/76B |
15 | - | |
75 |
15 | - | |
65/66B |
14 | - | |
65 |
14 | - | |
9903 |
-4,170 | -1,639 | |
9904 |
-4,170 | -1,639 | |
9905 |
-4,170 | -1,639 | |
| Appropriation of the result | |||
9906 |
-5,809 | -1,639 | |
14P |
-1,639 | - | |
| Document | |||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 21-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -3,414 | - | ||
| -3,413 | - | ||
| 3,089 | - | ||
| -4,373 | - | ||
| -3,141 | 3,361 | ||
| - | 64.0% | ||
| - | 2.77 | ||
| - | 0.56 | ||
| - | -48.8% | ||
| - | -31.2% | ||
| -247.92 | - |
The ratios are withheld because a balance sheet total of €3,121 is too small for a meaningful ratio.
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.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 |
|---|---|---|
| Tangible fixed assets | €3,089 | - |
| €757 | - |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on GreyCode
The operating result for 2025 is a loss of €4,171, larger than the loss of €1,639 in 2024.
Equity is negative. Debt (€3,930) exceeds the balance-sheet total (€3,121).
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 18-09-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 21-04-2026
Mandates through the years
1 name, the dashed line is todayDEGRYSE Tom Johan Nicole
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- DEGRYSE Tom Johan Nicole
- Director (not named in the articles), from 18-09-2024 to date
Control
Capital
- Contribution
- €5,000
- Shares
- 50
- Contribution per share
- €100
- Equity per share
- -€16.19 in 2025
- Source
- deed of 20-09-2024
Articles of association
deed of 20-09-2024 (in Dutch)- 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 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of March at 14:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 20-09-2024 ↗
- DEGRYSE Tom Johan Nicole 50 shares (100%) · €5,000 in cash
Capital transactions
Capital over time
- 20-09-2024 Incorporation · €5,000 · 50 shares
- 20-09-2024 Converted to available equity · €5,000
Network & group
No group
GreyCode has no parent and no holdings in its annual accounts. DEGRYSE Tom Johan Nicole is the only director. GreyCode shares no director with another company.
Timeline
Timeline
5 events since 2024Filings
Establishments
202420252026
Deadline for the 2026 accounts: 30-04-2027
2026
Annual accounts 2025 filed NBBmicro format · 9 days before the deadline
2025
Annual accounts 2024 filed NBBmicro format · 27 days before the deadline
2024
Registered in the Peppol Directory Reachable for e-invoices through 0208:1013725125
IncorporationFounding capital of €5,000, 50 shares · Founder: DEGRYSE Tom Johan Nicole · Appointment: DEGRYSE Tom Johan Nicole (director) · published on 20-09-20246 points ▸
- Founder, DEGRYSE Tom Johan Nicole
- Founding capital, €5,000, 50 shares
- Capital, €5,000, 50 shares
- Registered office clause, Oud-Smetlede 111, 9340 Smetlede
- Board composition, GreyCode
- Director appointment, DEGRYSE Tom Johan Nicole (director (not named in the articles))
- The deed holds 3 more points.
First establishment Oud-Smetlede 111, Lede
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
GreyCode was incorporated on 18 September 2024 as a private limited company by one natural person, with a starting capital of €5,000.12 Since 2024, DEGRYSE Tom Johan Nicole has served as director.3 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Identity
- Enterprise number
- 1013.725.125
- VAT number
- BE 1013.725.125
- Peppol ID
- 0208:1013725125
- Other Peppol ID
- 9925:BE1013725125
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 18-09-2024
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of March at 14:00deed of 20-09-2024 (in Dutch)
- Peppol
- Reachable since 28-09-2024Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- GreyCode in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 20-09-2024 (in Dutch)
Activities
NACEBEL 202562200
Computer consultancy and computer facilities management main activity
Codes under NACEBEL 2008
62020
IT consultancy main activity
62090
Computer programming, consultancy and related activities
63990
Computing infrastructure, data processing, hosting and other information service activities
68201
Real estate activities
70220
Business consulting
82110
Office administrative, office support and other business support activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het leveren van hoogwaardige computerconsultancy-diensten, met een sterke focus op de ontwikkeling van softwareoplossingen die organisaties…”deed of 20-09-2024 (in Dutch)
6 activities
- Het leveren van hoogwaardige computerconsultancy-diensten, met een sterke focus op de ontwikkeling van softwareoplossingen die organisaties helpen hun zakelijk succes te bevorderen
- Gegevensverwerking
- Webhosting
- Hardware- en softwaretesten
- Andere algemene diensten voor bedrijven
- De verhuur en exploitatie van eigen of geleasd residentieel onroerend goed als aanvullende bedrijfsactiviteit
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Oud-Smetlede 111 registered office 9340 Lede | 18-09-2024 | 2.363.813.685 |
Buildings and parcels at the address
- Ground area
- 1,053 m²
- Buildings
- 152 m²
- Volume, LiDAR
- 1,093 m³
- Tallest building
- 8.9 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 41066A0064/00F000 | 1,053 m² | 1 · 152 m² | 8.9 m · 2 |