Equity
KODO Technigarden has made a profit without a break since 2021.
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 46, micro). It does better than 47% of them on solvency, 36% on liquidity, 22% on profitability and 52% 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 5,047 companies had the same profile as KODO Technigarden has now. Each dot stands for 13 companies, two years later.
That fits the bankruptcy probability of KODO Technigarden itself: 0.8% within 12 months.
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 5,047 companies, not a prediction for KODO Technigarden. 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.
Liquidity is ample, with a current ratio of 1.74 (1.98 in 2024), above the usual 1.5. Short-term debt is 29.4% and cash 0.6% of total assets. However, 62.2% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 76 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| KODO Technigarden Keerbergen | €0.9m | €287,542 | 37.8% | 4.7 |
| BENDERTECHNIEK BELGIUM Hamont-Achel | €1.0m | €475,333 | 39.2% | 5.3 |
| VDP MEKA Leuze-en-Hainaut | €1.0m | €213,204 | 2.4% | 2.7 |
| STI-VANDENDORPE Wavre | €1.4m | €304,462 | 51.9% | 3.5 |
| BRP Bulk & Pack Eeklo | €0.9m | €180,081 | 31.5% | 2 |
| PARITECH Genk | €1.2m | €383,649 | 2.1% | 4.6 |
| BULLSWAP Genk | €0.9m | €175,233 | -35.4% | 10.2 |
These companies have the same main activity as KODO Technigarden: agents in the wholesale of industrial machinery, ships and aircraft (NACE 46140). They are comparable in size and age: total assets between €869,000 and €1.4m, founded between 2014 and 2021.
KODO Technigarden files the abbreviated format. That format states no turnover. The gross margin rose from €39,953 in 2019 to €287,542 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
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 ≈ €1.4m. Estimated: probably between €920,000 and €2.5m.
Higher than 45% of 9,902 companies in 2025.
Higher than 50% of 9,665 companies in 2025.
Higher than 38% of 9,780 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 2 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
898,953 | 1.0m | 711,905 | 780,531 | 796,554 | 698,791 | 55,514 | |
21/28 |
439,145 | 462,911 | 92,848 | 143,750 | 193,464 | 244,686 | 250 | |
21 |
1,459 | 14,500 | 43,500 | 72,751 | 102,251 | 131,751 | - | |
22/27 |
37,686 | 48,162 | 42,498 | 64,148 | 84,363 | 106,085 | - | |
23 |
25,466 | 32,520 | 25,315 | 32,640 | 33,301 | 38,268 | - | |
24 |
12,220 | 15,642 | 16,991 | 30,933 | 50,103 | 66,473 | - | |
26 |
- | 0 | 192 | 576 | 959 | 1,343 | - | |
28 |
400,000 | 400,250 | 6,850 | 6,850 | 6,850 | 6,850 | 250 | |
29/58 |
459,809 | 571,477 | 619,056 | 636,782 | 603,090 | 454,105 | 55,264 | |
3 |
398,149 | 512,661 | 571,664 | 549,131 | 510,158 | 412,605 | - | |
30/36 |
398,149 | 512,661 | 571,664 | 549,131 | 510,158 | 412,605 | - | |
40/41 |
41,600 | 26,829 | 28,606 | 38,263 | 17,996 | 6,882 | 2,545 | |
40 |
28,975 | 12,497 | 25,991 | 32,465 | 14,865 | 6,161 | 2,492 | |
41 |
12,625 | 14,332 | 2,615 | 5,799 | 3,131 | 721 | 52 | |
54/58 |
5,619 | 17,315 | 7,007 | 39,168 | 65,795 | 26,386 | 50,496 | |
490/1 |
14,441 | 14,671 | 11,779 | 10,220 | 9,141 | 8,232 | 2,223 | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
898,953 | 1.0m | 711,905 | 780,531 | 796,554 | 698,791 | 55,514 | |
10/15 |
340,111 | 327,907 | 223,862 | 185,598 | 137,068 | 116,372 | 43,978 | |
10/11 |
98,600 | 98,600 | 98,600 | 98,600 | 98,600 | 98,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | |
12 |
90,000 | 90,000 | - | - | - | - | - | |
13 |
151,511 | 139,307 | 125,262 | 86,998 | 38,468 | 17,772 | 25,378 | |
130/1 |
- | - | - | - | - | 0 | - | |
130 |
- | - | - | - | - | - | 1,860 | |
1311 |
- | - | - | - | - | 0 | - | |
133 |
151,511 | 139,307 | 125,262 | 86,998 | 38,468 | 17,772 | 23,518 | |
14 |
- | - | 0 | 0 | - | - | - | |
17/49 |
558,842 | 706,481 | 488,043 | 594,933 | 659,485 | 582,419 | 11,536 | |
17 |
286,185 | 415,442 | 141,830 | 250,010 | 336,988 | 372,779 | - | |
170/4 |
286,185 | 415,442 | 141,830 | 250,010 | 336,988 | 372,779 | - | |
42/48 |
264,375 | 288,054 | 346,213 | 344,923 | 322,497 | 209,640 | 11,227 | |
42 |
23,257 | 49,388 | 88,180 | 86,978 | 85,791 | 68,790 | - | |
43 |
125,323 | 100,000 | 150,136 | 150,000 | 100,000 | 13,700 | - | |
430/8 |
125,323 | 100,000 | 150,136 | 150,000 | 100,000 | 13,700 | - | |
44 |
47,128 | 52,078 | 31,223 | 44,966 | 64,341 | 50,043 | 2,710 | |
440/4 |
47,128 | 52,078 | 31,223 | 44,966 | 64,341 | 50,043 | 2,710 | |
46 |
0 | 15,152 | 18,202 | 21,088 | 18,448 | - | - | |
45 |
47,660 | 52,090 | 33,821 | 19,107 | 12,239 | 23,340 | 6,821 | |
450/3 |
4,740 | 9,877 | 17,710 | 19,004 | 11,746 | 9,058 | 6,821 | |
454/9 |
42,920 | 42,214 | 16,111 | 103 | 493 | 14,282 | - | |
47/48 |
21,007 | 19,345 | 24,652 | 22,784 | 41,678 | 53,767 | 1,697 | |
492/3 |
8,282 | 2,985 | - | - | - | 0 | 309 | |
| Income statement | ||||||||
76A |
- | 0 | 1,653 | 1,449 | 0 | 101,444 | - | |
9900 |
287,542 | 404,665 | 376,650 | 373,648 | 369,820 | 123,678 | 39,953 | |
62 |
292,869 | 312,168 | 248,123 | 235,867 | 258,483 | 90,167 | 4,102 | |
630 |
38,568 | 54,287 | 58,056 | 60,979 | 58,220 | 28,122 | - | |
640/8 |
1,569 | 1,740 | 1,719 | 1,440 | 3,165 | 1,966 | 1,813 | |
66A |
50 | 2,085 | 293 | 0 | 13,683 | - | - | |
9901 |
-45,512 | 34,385 | 68,459 | 75,363 | 36,269 | 3,423 | 34,038 | |
75/76B |
82,434 | 4,661 | 92 | 2,242 | 149 | 128 | - | |
75 |
82,434 | 4,661 | 92 | 2,242 | 149 | 128 | - | |
65/66B |
24,416 | 20,379 | 18,970 | 13,169 | 12,334 | 10,797 | 40 | |
65 |
24,416 | 20,379 | 18,970 | 13,169 | 12,334 | 10,797 | 40 | |
9903 |
12,505 | 18,666 | 49,581 | 64,436 | 24,084 | -7,246 | 33,997 | |
67/77 |
301 | 4,621 | 10,706 | 13,412 | 3,388 | 360 | 8,619 | |
9904 |
12,204 | 14,046 | 38,875 | 51,024 | 20,696 | -7,606 | 25,378 | |
9905 |
12,204 | 14,046 | 38,875 | 51,024 | 20,696 | -7,606 | 25,378 | |
| Appropriation of the result | ||||||||
9906 |
12,204 | 14,046 | 38,875 | 51,024 | 20,696 | -7,606 | 25,378 | |
791/2 |
- | - | - | - | 0 | 7,606 | - | |
691/2 |
12,204 | 14,046 | 38,875 | 48,530 | 20,696 | 0 | 25,378 | |
6920 |
- | - | - | - | - | 0 | 1,860 | |
6921 |
12,204 | 14,046 | 38,875 | 48,530 | 20,696 | 0 | 23,518 | |
694/7 |
- | - | 0 | 2,493 | - | - | - | |
696 |
- | - | - | 2,493 | - | - | - | |
697 |
- | - | 0 | - | - | - | - | |
| Social balance sheet | ||||||||
9087 |
4.7 | 4.8 | 3.8 | 4.5 | 4.9 | - | - | |
Hours worked1013 |
7,706 | 7,911 | 6,472 | 7,191 | 8,597 | - | - | |
| Document | ||||||||
The notes to these accounts have 25 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 26-03-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-03-2026 | 2026-00062384 | |
| 31-12-2024 | abbreviated format | 11-04-2025 | 2025-00067857 | |
| 31-12-2023 | abbreviated format | 16-05-2024 | 2024-00088733 | |
| 31-12-2022 | micro format | 28-03-2023 | 2023-00046322 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20092954 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-25500227 | |
| 30-06-2019 | micro format | 07-01-2020 | 2020-00900374 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €2,663 | €2,663 |
| 2022 | 1 | €245 | €245 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| -6,945 | 88,672 | 126,515 | 136,342 | 94,489 | 31,544 | - | ||
| 50,772 | 68,333 | 96,931 | 112,003 | 78,916 | 20,515 | - | ||
| 15,101 | 343,035 | 7,448 | 11,943 | 6,999 | 272,557 | 250 | ||
| -11,697 | 10,308 | -32,161 | -26,627 | 39,409 | -24,111 | - | ||
| 195,434 | 283,423 | 272,843 | 291,859 | 280,592 | 244,465 | 44,037 | ||
| 37.8% | 31.7% | 31.4% | 23.8% | 17.2% | 16.7% | 79.2% | ||
| 1.74 | 1.98 | 1.79 | 1.85 | 1.87 | 2.17 | 4.92 | ||
| 0.23 | 0.20 | 0.14 | 0.25 | 0.29 | 0.20 | 4.92 | ||
| 1.64 | 2.15 | 2.18 | 3.21 | 4.81 | 5.00 | 0.26 | ||
| 3.6% | 4.3% | 17.4% | 27.5% | 15.1% | -6.5% | 57.7% | ||
| 1.4% | 1.4% | 5.5% | 6.5% | 2.6% | -1.1% | 45.7% | ||
| -0.28 | 4.35 | 6.67 | 10.35 | 7.66 | - | - |
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 6 | 5 | 5 | 6 |
| full-time | 3 | 5 | 3 | 3 | 4 |
| part-time | 1 | 1 | 2 | 2 | 2 |
| in full-time equivalents | 3.8 | 5.2 | 3.9 | 3.8 | 4.9 |
| 4.7 | 4.8 | 3.8 | 4.5 | 4.9 | |
| On a permanent contract | 4 | 6 | 5 | 5 | 6 |
| Joined | 2 | 8 | - | 1 | 3 |
| Left | 4 | 7 | - | 2 | 4 |
| Training hours | 0 | 0 | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €13,081 | €33,035 | €7,448 | €11,943 | €6,999 |
| Intangible fixed assets | €2,020 | - | - | - | - |
| Financial fixed assets | - | €310,000 | - | - | - |
| €38,568 | €54,287 | €58,056 | €60,979 | €58,220 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €45,512, after a profit of €34,385 in 2024. It is the lowest result since 2019.
Debt's share of the balance-sheet total falls from 68.3% to 62.2%. Equity is higher and debt is lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| Verbruggen, Koert (sole trader)
establishment since 20-04-2010 |
founded in 2010 0769.212.869 |
The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
KODO Technigarden was incorporated on 13 June 2018.1 The name was changed to KODO Technigarden in 2020.2 Verbruggen Koert Margareta Victor is manager of the company, appointed by deed of 15-06-2018.3 Total assets rose from €55,514 in 2019 to €898,953 in 2025 and headcount from 4.9 full-time equivalents in 2021 to 4.7 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Kwikstaartweg 10 registered office 3140 Keerbergen 43230 Insulation installation | 13-06-2018 | 2.276.632.461 |
| Technigarden Tervuursesteenweg 496, 3061 Bertem | 01-07-2020 | 2.304.268.949 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 24061A0254/00E002 | 2,285 m² | 1 · 514 m² | 10.7 m · 2 |
| 24472G0352/00G000 | 2,144 m² | 1 · 200 m² | 8.9 m · 2 |
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