RAINCODE
ActiveSummary
RAINCODE has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.43M and a net result of €-306k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 63% of 1424 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+58
Solvency77▼-3
Growth38▲+3
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270k at 30 days acceptable
Liquidity ample (current ratio 3.82 against 4.0 in 2024; short-term debt: 12.8% and cash: 29.9% of total assets), and 48.5% 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 →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
51.5%
Return on assets
-4.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
6 d early
2023
28 d early
2022
25 d early
2021
30 d early
2020
17 d late
2019
69 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 31-12-2026 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, full schema
Turnover
€3.79M▲ 18.7%
2024 · €3.19M
EBIT margin
-3.5%▲ 18.0pp
2024 · -21.5%
Net result
€-306k▲ 57.7%
2024 · €-724k
Working capital
€2.41M▲ 16.7%
2024 · €2.06M
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€4.35M▼ 14.8%€4.00M▼ 8.1%€4.54M▲ 13.6%€3.19M▼ 29.8%€3.79M▲ 18.7%
Operating result€89k▼ 49.2%€118k▲ 31.8%€-515k€-686k▼ 33.3%€-134k▲ 80.4%
Net result€31k▼ 73.7%€27k▼ 10.6%€-690k€-724k▼ 4.9%€-306k▲ 57.7%
EBIT margin2.1%▼ 1.4pp2.9%▲ 0.9pp-11.3%▼ 14.3pp-21.5%▼ 10.2pp-3.5%▲ 18.0pp
Equity€631k▲ 5.1%€659k▲ 4.3%€4.45M▲ 576%€3.73M▼ 16.3%€3.43M▼ 7.9%
Total assets€5.77M▼ 7.3%€5.58M▼ 3.3%€7.53M▲ 35.0%€6.77M▼ 10.2%€6.67M▼ 1.5%
Debt€5.11M▼ 8.6%€4.90M▼ 4.2%€3.06M▼ 37.6%€3.02M▼ 1.3%€3.21M▲ 6.4%
Working capital€-2.40M▼ 9.2%€-2.81M▼ 17.0%€2.09M€2.06M▼ 1.3%€2.41M▲ 16.7%
Staff (FTE)41.8▼ 13.6%40.1▼ 4.1%30.5▼ 23.9%22.3▼ 26.9%21▼ 5.8%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €134k in 2025 against €686k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.67M
Fixed assets
€3.41M ▼ 15.3%
Current assets
€3.26M ▲ 18.6%
Equity and liabilities €6.67M
Equity
€3.43M ▼ 7.9%
Provisions
€23k ▼ 5.5%
Debt
€3.21M ▲ 6.4%
Debt's share of the balance-sheet total rises from 44.6% to 48.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€440k▲
2024 · €-104k
Cash flow
€268k▲
2024 · €-142k
Current ratio
3.82▼
2024 · 4.00
Debt to equity
0.93▲
2024 · 0.81
ROE
-8.9%▲
2024 · -19.4%
ROA
-4.6%▲
2024 · -10.7%
Interest coverage
11.91▲
2024 · -2.01
Debt ≤ 1 year
€852k▲
2024 · €686k
Debt > 1 year
€1.08M▼
2024 · €1.21M
Income taxes
€2k▼
2024 · €3k
Staff costs
€2.18M▲
2024 · €2.17M
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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €5.17M | €4.53M | €5.14M | €3.99M | €4.43M | ▲ 11.0% |
| Turnover70 | €4.35M | €4.00M | €4.54M | €3.19M | €3.79M | ▲ 18.7% |
| Other operating income74 | €821k | €527k | €591k | €803k | €646k | ▼ 19.6% |
| Operating charges60/66A | €5.09M | €4.41M | €5.65M | €4.68M | €4.57M | ▼ 2.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €4k | €6k | ▲ 51.7% |
| Purchases600/8 | - | - | - | €4k | €6k | ▲ 51.7% |
| Services and other goods61 | €791k | €688k | €2.11M | €1.90M | €1.69M | ▼ 11.1% |
| Remuneration, social security and pensions62 | €3.94M | €3.41M | €2.87M | €2.17M | €2.18M | ▲ 0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €339k | €283k | €644k | €582k | €574k | ▼ 1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €68k | - |
| Other operating charges640/8 | €18k | €27k | €28k | €30k | €56k | ▲ 87.5% |
| Operating profit (loss)9901 | €89k | €118k | €-515k | €-686k | €-134k | ▲ 80.4% |
| Financial income75/76B | €25k | €10 | €8k | €23k | €30k | ▲ 30.6% |
| Recurring financial income75 | €25k | €10 | €8k | €23k | €30k | ▲ 30.6% |
| Income from financial fixed assets750 | - | - | €2k | €4k | €2k | ▼ 46.1% |
| Income from current assets751 | - | - | €6k | €8k | €5k | ▼ 38.4% |
| Other financial income752/9 | €25k | €10 | €357 | €10k | €22k | ▲ 117% |
| Financial charges65/66B | €40k | €36k | €181k | €59k | €201k | ▲ 239% |
| Recurring financial charges65 | €40k | €36k | €181k | €59k | €153k | ▲ 159% |
| Debt charges650 | €36k | €32k | €50k | €52k | €37k | ▼ 28.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | €101k | - | - | - |
| Other financial charges652/9 | €4k | €4k | €30k | €8k | €116k | ▲ 1,411% |
| Non-recurring financial charges66B | - | - | - | - | €48k | - |
| Profit (loss) for the period before taxes9903 | €75k | €82k | €-688k | €-723k | €-306k | ▲ 57.7% |
| Transfer from deferred taxes780 | €1k | €1k | €1k | €1k | €1k | = |
| Income taxes67/77 | €45k | €56k | €3k | €3k | €2k | ▼ 33.3% |
| Taxes670/3 | €45k | €56k | €3k | €3k | €3k | ▼ 15.3% |
| Tax adjustments and reversals of tax provisions77 | €22 | - | - | - | €548 | - |
| Profit (loss) for the period9904 | €31k | €27k | €-690k | €-724k | €-306k | ▲ 57.7% |
| Transfer from tax-exempt reserves789 | €3k | €3k | €3k | €3k | €3k | = |
| Profit (loss) for the period to be appropriated9905 | €33k | €30k | €-688k | €-722k | €-304k | ▲ 57.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.77M | €5.58M | €7.53M | €6.77M | €6.67M | ▼ 1.5% |
| Fixed assets21/28 | €4.69M | €4.97M | €4.58M | €4.02M | €3.41M | ▼ 15.3% |
| Intangible fixed assets21 | - | - | €1.31M | €932k | €553k | ▼ 40.7% |
| Tangible fixed assets22/27 | €3.37M | €3.10M | €2.88M | €2.70M | €2.51M | ▼ 6.8% |
| Land and buildings22 | €2.66M | €2.59M | €2.51M | €2.43M | €2.36M | ▼ 3.1% |
| Plant, machinery and equipment23 | - | - | €6k | €1k | €157 | ▼ 86.7% |
| Furniture and vehicles24 | €171k | €86k | €32k | €34k | €26k | ▼ 24.9% |
| Other tangible fixed assets26 | €535k | €429k | €329k | €227k | €129k | ▼ 43.4% |
| Financial fixed assets28 | €1.33M | €1.87M | €392k | €392k | €341k | ▼ 13.0% |
| Affiliated companies280/1 | €1.33M | €1.87M | €391k | €391k | €340k | ▼ 13.1% |
| Participating interests280 | €1.33M | €1.87M | €391k | €391k | €340k | ▼ 13.1% |
| Other financial fixed assets284/8 | €630 | €630 | €630 | €630 | €630 | = |
| Amounts receivable and cash guarantees285/8 | €630 | €630 | €630 | €630 | €630 | = |
| Current assets29/58 | €1.08M | €615k | €2.95M | €2.75M | €3.26M | ▲ 18.6% |
| Amounts receivable after more than one year29 | - | - | €200k | €175k | €150k | ▼ 14.3% |
| Other amounts receivable291 | - | - | €200k | €175k | €150k | ▼ 14.3% |
| Amounts receivable within one year40/41 | €384k | €314k | €1.31M | €1.68M | €791k | ▼ 52.9% |
| Trade receivables40 | €361k | €243k | €1.03M | €1.32M | €729k | ▼ 44.9% |
| Other amounts receivable41 | €23k | €71k | €274k | €354k | €62k | ▼ 82.6% |
| Current investments50/53 | - | - | - | - | €249k | - |
| Own shares50 | - | - | - | - | €249k | - |
| Cash at bank and in hand54/58 | €684k | €232k | €1.40M | €868k | €1.99M | ▲ 130% |
| Deferred charges and accrued income490/1 | €8k | €69k | €48k | €28k | €76k | ▲ 167% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.77M | €5.58M | €7.53M | €6.77M | €6.67M | ▼ 1.5% |
| Equity10/15 | €631k | €659k | €4.45M | €3.73M | €3.43M | ▼ 7.9% |
| Contributions10/11 | €6k | €6k | €24k | €24k | €36k | ▲ 52.5% |
| Reserves13 | €57k | €55k | €54k | €51k | €297k | ▲ 481% |
| Non-distributable reserves130/1 | €2k | €2k | €4k | €4k | €252k | ▲ 6,898% |
| Reserves not available under the articles1311 | €2k | €2k | €4k | €4k | €4k | = |
| Own shares acquired1312 | - | - | - | - | €249k | - |
| Tax-exempt reserves132 | €55k | €53k | €50k | €48k | €45k | ▼ 5.5% |
| Profit (loss) carried forward14 | €568k | €598k | €4.38M | €3.65M | €3.10M | ▼ 15.1% |
| Provisions and deferred taxes16 | €28k | €27k | €26k | €24k | €23k | ▼ 5.5% |
| Deferred taxes168 | €28k | €27k | €26k | €24k | €23k | ▼ 5.5% |
| Amounts payable17/49 | €5.11M | €4.90M | €3.06M | €3.02M | €3.21M | ▲ 6.4% |
| Amounts payable after more than one year17 | €1.63M | €1.47M | €1.33M | €1.21M | €1.08M | ▼ 10.3% |
| Financial debts170/4 | €1.63M | €1.47M | €1.33M | €1.21M | €1.08M | ▼ 10.3% |
| Credit institutions173 | €1.63M | €1.47M | €1.33M | €1.21M | €1.08M | ▼ 10.3% |
| Amounts payable within one year42/48 | €3.48M | €3.43M | €865k | €686k | €852k | ▲ 24.2% |
| Current portion of amounts payable after more than one year42 | €317k | €181k | €139k | €122k | €124k | ▲ 1.7% |
| Trade debts44 | €24k | €104k | €242k | €273k | €274k | ▲ 0.2% |
| Suppliers440/4 | €24k | €104k | €242k | €273k | €274k | ▲ 0.2% |
| Taxes, remuneration and social security45 | €577k | €589k | €315k | €227k | €237k | ▲ 4.8% |
| Taxes450/3 | €121k | €163k | €46k | €3k | €3k | ▼ 17.0% |
| Remuneration and social security454/9 | €456k | €426k | €269k | €223k | €235k | ▲ 5.1% |
| Other amounts payable47/48 | €2.56M | €2.55M | €170k | €64k | €217k | ▲ 238% |
| Accrued charges and deferred income492/3 | - | - | €859k | €1.12M | €1.27M | ▲ 13.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31k | €27k | €-690k | €-724k | €-306k | ▲ 57.7% |
| + Depreciation and write-downs630 | €339k | €283k | €644k | €582k | €574k | ▼ 1.4% |
| Operating cash flow (approximation) | €370k | €311k | €-46k | €-142k | €268k | ▲ 289% |
| Investment in fixed assets (approximation) | - | €-556k | €-255k | €-24k | €40k | ▲ 268% |
| Change in cash | - | €-452k | €1.17M | €-531k | €1.13M | ▲ 312% |
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
18-09
State Gazette act
Appointment: BMS & C° (commissaire réviseur aux comptes)2 facts ▸
State Gazette act
Appointment: BMS & C° (commissaire réviseur aux comptes)
2 facts ▸
- General meeting, 13-05-2025
- Auditor appointment, BMS & C° (commissaire réviseur aux comptes)
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
31-12
Financial
Weakest financial yearnet €-724k
Net result drops to €-724k, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · unclassified schema
2023
31-12
Financial
Liquidity times 19current ratio 3.41
Current ratio from 0.18 to 3.41; short-term debt falls from €3.43M to €865k.
31-12
Financial
Equity above €2MEq €4.45M ▲576%
Equity rises from €659k to €4.45M.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · unclassified schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · unclassified schema
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · unclassified schema · 17 days late
2020
31-12
Financial
Highest result since 2018net €117k ▲148%
Operating result €176k, net result €117k, both a record.
31-12
Financial
Equity above €500kEq €601k ▲24.1%
3 profitable years in a row build equity to €601k.
Show earlier events
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 69 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Brussel · 3 establishment units since 1990
Ground area
1,158 m²
Building footprint
882 m²
Volume, LiDAR
10,804 m³
2 parcels, Brussels · tallest building 20.3 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
3 establishment units
PHIDANI SOFTWARE
since 19902.048.828.852
Kazernestraat 43, 1000 Brussel
since 20162.255.163.886
PHIDANI
since 20182.277.225.052
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305B0258/00G016 | Brussels | 696 m² | 1 · 697 m² | 19.3 m · 4 fl. |
| 21810L2201/00V019 | Brussels | 462 m² | 2 · 184 m² | 20.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| BMS & C°Current Commissaire réviseur aux comptes | 18-09-2026 → present |
Recognitions · licences · registrations
Legal Entity Identifier
549300NR1B73SJFMK148
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Of 16,901 companies in sector 62100 we hold annual accounts for 8,775. 1,775 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
Founded11-05-1990
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
18130Pre-press and pre-media services
26110Manufacture of computer, electronic and optical products
26200Manufacture of computer, electronic and optical products
26300Manufacture of computer, electronic and optical products
Scores and ratios are computed by Checked and are not a credit decision.