Losses
-€1.7m in three years
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
RAINCODE
Lifetime
20 annual accounts with figures on one time axis, 36 filings since 1990peak €5.3m (2018)
-not published
lowest -€724,285 (2024)
-€306,361▲ €417,923
peak €4.5m (2023)
€3.4m▼ 7.9%
€3.2m▲ 6.4%
peak 55.9 FTE (2019)
21 FTE▼ 5.8%
Board8 names since 2020
3 directors and 2 others
Documentsfilings and deeds
03-07-202628 days before the deadline
2025financial year
Turnover from €3.2m to €3.8mLoss of €306,361Amendment of the articles 08-12Cash from €867,751 to €2.0m
Key points
from the 2025 annual accountsSecurities
€3.9m
Mortgage mandates, new in 2025. 1.1 times equity · not in the 2024 accounts.
Investments
€11,039 0.0 × depreciation
Green is investment, beige is depreciation.
Staff
21 FTE from 55.9 in 2019
Between 2019 and 2025, 62% of the full-time equivalents disappeared.
Payment terms
59 days to suppliers
RAINCODE pays its suppliers 7 days later than in 2024. Customers pay 81 days earlier.
Position in the sector
-€306,361
Lower net result than 90% of companies in computer programming and consultancy. Sector median €79,298 · 751 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 8,609 companies had the same profile as RAINCODE has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 8,609 companies, not a prediction for RAINCODE. 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
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Signals
Board and ownership
Director, , since 01-04-2022
Director, , since 01-04-2022
Director, , since 01-04-2022
Auditor
- 227 sharesdeed of 01-09-2023
- 227 sharesdeed of 01-09-2023
- 226 sharesdeed of 01-09-2023
Recent changes
Appointment: ° (statutory auditor)
General meeting of 13-05-2025 · Gazette deed
Amendment of the articles
4,500 shares · General meeting of 28-11-2025 · Gazette deed
Merger: PHIDANI SOFTWARE takes over RAINCODE
Company renamed from PHIDANI SOFTWARE to RAINCODE · Issue of 680 shares · Issue of 6,801 shares · General meeting of 27-07-2023 · Gazette deed
Merger proposal: PHIDANI SOFTWARE takes over Raincode
Appointment: (statutory auditor) · Permanent representative: · is a shareholder · Board meeting of 25-05-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| RAINCODE Brussels | €3.8m | -3.5% | 51.5% | 21 |
| SYNERGLASS SOFT Sprimont | €3.2m | -0.3% | 45.1% | 28.7 |
| ACAPELA GROUP BABEL Technologies Mons | €4.6m | 13.7% | 65.7% | 28.9 |
| VENTIGRATE Kontich | €3.1m | 6.3% | 88.8% | 19.1 |
| Pricewaterhouse Coopers Technology Consulting Belgium Machelen (Brab.) | €8.6m | 0.1% | 64.8% | 28.9 |
| DATA INNOVATIONS EUROPE Etterbeek | €5.0m | -2.6% | 43.6% | 17.2 |
| INTERGRAPH BELGIUM Anderlecht | €11.6m | 4.8% | 57.3% | 31.1 |
Grey: the largest companies of the sector (computer programming and consultancy (NACE 62)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as RAINCODE: computer programming (NACE 62100). They are comparable in size and age: total assets between €4m and €8.3m, founded between 1989 and 1999.
Official details
Source: KBO- Status
- Active since 11-05-1990Normal situation
- Activity
- Computer programmingNACE 62100and 4 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.048.828.8521000 Brussels, since 09-07-1990
- 2.255.163.8861000 Brussels, since 01-07-2016and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Annual accounts 2025
- €6.7m▼ 1.5%
- Employeeson 31-12-2025
- 21=
- Filing
- Filed on 03-07-2026, 28 days before the end of the filing period
Insights on RAINCODE
RAINCODE has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.4m and a net result of -€306,361.
Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 61% of 750 sector peers (NACE 62, financial year 2025).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about RAINCODE
- What is the company number of RAINCODE?
- The company number of RAINCODE is 0440.804.820. The VAT number is the same number with BE in front: BE 0440.804.820.
- Where is RAINCODE based?
- The registered office is at Kazernestraat 45, 1000 Brussels.Company details
- What does RAINCODE do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of RAINCODE?
- RAINCODE is a private limited company (BV).
- When was RAINCODE founded?
- RAINCODE was founded on 11-05-1990.
- Is RAINCODE still active?
- Yes, RAINCODE is an active enterprise in the KBO register.
- How many employees does RAINCODE have?
- RAINCODE had an average of 21 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does RAINCODE fall under?
- In its 2025 annual accounts, RAINCODE states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of RAINCODE?
- The turnover of RAINCODE was €3.8m in financial year 2025, according to the filed annual accounts.
- Is RAINCODE profitable?
- In financial year 2025, RAINCODE made a loss of €306,361.
- Where can I find the annual accounts of RAINCODE?
- RAINCODE filed 36 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of RAINCODE due?
- RAINCODE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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