KoDes
ActiveSummary
KoDes has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22k and a net result of €17k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 23% of 1906 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▼-10
Solvency44▼-56
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.93 against 4.35 in 2024; short-term debt: 80.8% and cash: 50.1% of total assets), and 80.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 63
Relative position
BE, all sectors
reference
Computing infrastructure, data processing, hosting and other information service activities (NACE 63)
about 52% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.2%
Return on assets
14.8%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 1906 sector peers (2025).
NBB · sector comparisonPosition among 1906 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-10-2025, 4 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
4 d early
2024
3 d early
2023
15 d early
2022
2 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€22k▼ 77.4%
2024 · €96k
Total assets
€113k▼ 2.7%
2024 · €116k
Net result
€17k▼ 36.5%
2024 · €26k
Working capital
€-6k
2024 · €67k
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
Line2022202320242025
Operating result€40k-€44k▲ 10.7%€35k▼ 19.8%€27k▼ 23.9%
Net result€30k-€34k▲ 12.8%€26k▼ 23.4%€17k▼ 36.5%
Equity€35k-€70k▲ 96.8%€96k▲ 37.7%€22k▼ 77.4%
Total assets€58k-€91k▲ 57.2%€116k▲ 27.7%€113k▼ 2.7%
Debt€22k-€21k▼ 5.7%€20k▼ 5.5%€91k▲ 357%
Working capital€34k-€59k▲ 72.1%€67k▲ 13.2%€-6k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 24% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €113k
Fixed assets
€28k ▼ 3.7%
Current assets
€85k ▼ 2.3%
Equity and liabilities €113k
Equity
€22k ▼ 77.4%
Debt
€91k ▲ 357%
Debt's share of the balance-sheet total rises from 17.2% to 80.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€33k▼
2024 · €40k
Cash flow
€22k▼
2024 · €31k
Current ratio
0.93▼
2024 · 4.35
Debt to equity
4.20▲
2024 · 0.21
ROE
77.0%▲
2024 · 27.4%
ROA
14.8%▼
2024 · 22.7%
Interest coverage
11.38▼
2024 · 43.85
Debt ≤ 1 year
€91k▲
2024 · €20k
Income taxes
€7k▼
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €8k | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €596 | €2k | €5k | €6k | ▲ 21.4% |
| Other operating charges640/8 | €1k | €488 | €686 | €1k | ▲ 61.3% |
| Gross operating margin9900 | €42k | €47k | €41k | €34k | ▼ 17.2% |
| Operating profit (loss)9901 | €40k | €44k | €35k | €27k | ▼ 23.9% |
| Financial income75/76B | - | - | - | €1 | - |
| Recurring financial income75 | - | - | - | €1 | - |
| Financial charges65/66B | €1k | €781 | €915 | €3k | ▲ 214% |
| Recurring financial charges65 | €1k | €781 | €915 | €3k | ▲ 214% |
| Profit (loss) for the period before taxes9903 | €39k | €43k | €35k | €24k | ▼ 30.2% |
| Income taxes67/77 | €8k | €9k | €8k | €7k | ▼ 10.0% |
| Profit (loss) for the period9904 | €30k | €34k | €26k | €17k | ▼ 36.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €91k | - |
| Profit (loss) for the period to be appropriated9905 | €30k | €34k | €26k | €108k | ▲ 310% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €58k | €91k | €116k | €113k | ▼ 2.7% |
| Fixed assets21/28 | €1k | €11k | €29k | €28k | ▼ 3.7% |
| Tangible fixed assets22/27 | €1k | €11k | €29k | €28k | ▼ 3.7% |
| Plant, machinery and equipment23 | - | - | €4k | €3k | ▼ 18.2% |
| Furniture and vehicles24 | €1k | €11k | €8k | €9k | ▲ 19.3% |
| Other tangible fixed assets26 | - | - | €18k | €16k | ▼ 10.8% |
| Current assets29/58 | €57k | €80k | €87k | €85k | ▼ 2.3% |
| Amounts receivable within one year40/41 | €19k | €34k | €14k | €16k | ▲ 15.7% |
| Trade receivables40 | €18k | €34k | €14k | €13k | ▼ 5.7% |
| Other amounts receivable41 | €1k | €22 | €105 | €3k | ▲ 2,851% |
| Cash at bank and in hand54/58 | €35k | €44k | €71k | €57k | ▼ 20.6% |
| Deferred charges and accrued income490/1 | €2k | €2k | €1k | €12k | ▲ 708% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €58k | €91k | €116k | €113k | ▼ 2.7% |
| Equity10/15 | €35k | €70k | €96k | €22k | ▼ 77.4% |
| Contributions10/11 | €5k | €5k | €5k | €5k | = |
| Reserves13 | €30k | €65k | €91k | €17k | ▼ 81.7% |
| Distributable reserves133 | €30k | €65k | €91k | €17k | ▼ 81.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | - |
| Amounts payable17/49 | €22k | €21k | €20k | €91k | ▲ 357% |
| Amounts payable within one year42/48 | €22k | €21k | €20k | €91k | ▲ 357% |
| Financial debts43 | €66 | €0 | €213 | €352 | ▲ 65.1% |
| Credit institutions430/8 | €66 | €0 | €213 | €352 | ▲ 65.1% |
| Trade debts44 | €1k | €3k | €3k | €3k | ▲ 10.9% |
| Suppliers440/4 | €1k | €3k | €3k | €3k | ▲ 10.9% |
| Taxes, remuneration and social security45 | €15k | €11k | €10k | €3k | ▼ 69.5% |
| Taxes450/3 | €15k | €11k | €10k | €3k | ▼ 69.5% |
| Other amounts payable47/48 | €7k | €7k | €7k | €85k | ▲ 1,124% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30k | €34k | €26k | €17k | ▼ 36.5% |
| + Depreciation and write-downs630 | €596 | €2k | €5k | €6k | ▲ 21.4% |
| Operating cash flow (approximation) | €31k | €37k | €31k | €22k | ▼ 27.7% |
| Investment in fixed assets (approximation) | - | €-12k | €-23k | €-5k | ▲ 80.0% |
| Change in cash | - | €9k | €27k | €-15k | ▼ 154% |
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
2025
27-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €17k ▼36.5%
Net result drops to €17k, the lowest in the series.
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
16-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Highest result since 2022net €34k ▲12.8%
Operating result €44k, net result €34k, both a record.
2022
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Tielt · 1 establishment unit since 2021
Ground area
2,033 m²
Building footprint
168 m²
Volume, LiDAR
760 m³
Parcel 37007E0453/00F000, Flanders · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KoDes
since 20212.314.174.629
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37007E0453/00F000 | Flanders | 2,033 m² | 1 · 168 m² | 6.8 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.
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Of 3,149 companies in sector 63920 we hold annual accounts for 1,524. 1,074 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
Founded17-02-2021
Fiscal year end31-03
Activities, NACEBEL 2025
63920Other information service activities
64210Activities of holding companies
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.