Equity
€174,493 ▲ 69.0%
Equity rose in 2025 from €103,223 to €174,493.
Recode
Lifetime
3 annual accounts with figures on one time axispeak €100,423 (2024)
€91,491▼ 8.9%
peak €78,426 (2024)
€71,271▼ 9.1%
peak €174,493 (2025)
€174,493▲ 69.0%
€23,076▼ 14.9%
Board1 name since 2023
1 directorVolders Pim Jozef Marcel Eddy
Documentsfilings and deeds
31-03-202630 days before the deadline
2025micro format
Equity from €103,223 to €174,493Investments €1,743Cash from €129,486 to €195,252
Key points
from the 2025 annual accountsTurnover
≈ €170,000 estimated
The micro format states no turnover.
Investments
€1,743 2.0 × depreciation
Green is investment, beige is depreciation.
Liquidity
8.80 was 4.87 in 2024
Short-term debts fell from €26,600 to €22,268.
Starting capital
€2,500 100 shares
Position in the sector
88.3%
Higher solvency than 85% of companies in computer programming and consultancy. Sector median 60.0% · 21,208 companies.
Checked score
98
Excellent
Financially stronger than 86% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025highest value
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged 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: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 8.80, cash €195,252
Sector: Computer programming, consultancy and related activities (NACE 62)
Size: total assets €197,570
Equity €174,493 (88.3% of total assets)
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 85% of them on solvency, 91% on liquidity, 82% on profitability and 84% 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 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, 39,278 companies had the same profile as Recode has now. Each dot stands for 99 companies, two years later.
95.8%
were still trading
2.3%
stopped another way
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Recode itself is lower: < 0.1% within 12 months. It rests on far more data about Recode 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 39,278 companies, not a prediction for Recode. 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
Credit of up to €17,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 8.8 (4.87 in 2024), above the usual 1.5. Short-term debt is 11.3% and cash 98.8% of total assets. 11.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
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 31-03-2026, 30 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
30 days early
2024
30 days early
2023
30 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 30 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. The company usually files around 31 March (3 of the last 3 accounts filed within 30 days either side of that date).
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 0208:0797928235
Incorporation
Founding capital of €2,500, 100 shares · Founder: Volders Pim Jozef Marcel Eddy · Appointment: Volders Pim Jozef Marcel Eddy (director) · published on 06-02-2023 · Gazette deed
First establishment
Gemeentestraat 232, Leuven
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Recode Leuven | €197,570 | €91,491 | 88.3% | - |
| Wart Spitaels IT Ternat | €195,760 | €90,902 | 63.5% | - |
| FIX-IT FELIX Grimbergen | €203,381 | €97,550 | 89.5% | - |
| Het is wat het is Rotselaar | €185,479 | €88,261 | 62.1% | - |
| Nofel Boortmeerbeek | €185,122 | €91,955 | 90.6% | - |
| Bytebrew Halle | €195,712 | €96,087 | 92.7% | - |
| Lovanium Analytica Leuven | €195,888 | €83,811 | 91.4% | - |
These companies have the same main activity as Recode: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €185,000 and €203,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 02-02-2023Normal situation
- Activity
- Computer consultancy and computer facilities managementNACE 62200
- Establishment unit
- 2.341.323.8403010 Leuven, since 02-02-2023
- Financial year end
- 30 September
- Peppol
- Reachable since 28-07-2024
Annual accounts to 30-09-2025
- €197,570▲ 51.6%
- Filing
- Filed on 31-03-2026, 30 days before the end of the filing period
Insights on Recode
Recode files the micro format. That format states no turnover. The gross margin rose from €29,982 in 2023 to €91,491 in 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 Recode
- What is the company number of Recode?
- The company number of Recode is 0797.928.235. The VAT number is the same number with BE in front: BE 0797.928.235.
- Where is Recode based?
- The registered office is at Gemeentestraat 232, 3010 Leuven.Company details
- What does Recode do?
- According to the KBO register, the main activity is computer consultancy and computer facilities management (NACE 62200).
- What is the legal form of Recode?
- Recode is a private limited company (BV).
- When was Recode founded?
- Recode was founded on 02-02-2023.
- Is Recode still active?
- Yes, Recode is an active enterprise in the KBO register.
- What is the turnover of Recode?
- The turnover in financial year 2025 is ≈ €170,000. This figure is estimated from the gross margin of €91,491 and 60 comparable companies (NACE 62200). It probably lies between €160,000 and €230,000.Financials
- Is Recode profitable?
- In financial year 2025, Recode made a profit of €71,271.
- Where can I find the annual accounts of Recode?
- Recode filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Recode due?
- Recode must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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