Recode
Annual accounts 2025
micro format, filed on 31-03-2026, 30 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €170,000. Estimated: probably between €160,000 and €230,000.
Balance sheet
balance sheet total €197,570 on 30-09-2025in euro
in euro
Position in the sector
88.3%
Higher than 86% of 21,208 companies in 2025.
8.80
Higher than 87% of 20,571 companies in 2025.
36.1%
Higher than 74% of 20,746 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
197,570 | 130,354 | 39,608 | |
21/28 |
1,672 | 799 | 1,215 | |
22/27 |
1,672 | 799 | 1,215 | |
24 |
1,672 | 799 | 1,215 | |
29/58 |
195,898 | 129,555 | 38,393 | |
40/41 |
- | - | 3,146 | |
40 |
- | - | 3,146 | |
54/58 |
195,252 | 129,486 | 35,153 | |
490/1 |
646 | 69 | 94 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
197,570 | 130,354 | 39,608 | |
10/15 |
174,493 | 103,223 | 25,596 | |
10/11 |
2,500 | 2,500 | 2,500 | |
11 |
2,500 | 2,500 | 2,500 | |
1109/19 |
2,500 | 2,500 | 2,500 | |
14 |
171,993 | 100,723 | 23,096 | |
17/49 |
23,076 | 27,131 | 14,012 | |
42/48 |
22,268 | 26,600 | 13,364 | |
44 |
2,378 | 3,298 | 3,329 | |
440/4 |
2,378 | 3,298 | 3,329 | |
45 |
19,890 | 21,702 | 10,035 | |
450/3 |
19,890 | 21,702 | 10,035 | |
47/48 |
0 | 1,600 | - | |
492/3 |
808 | 531 | 648 | |
| Income statement | ||||
9900 |
91,491 | 100,423 | 29,982 | |
62 |
1,908 | 1,428 | 829 | |
630 |
870 | 417 | 35 | |
640/8 |
130 | 64 | 100 | |
9901 |
88,583 | 98,514 | 29,018 | |
75/76B |
1,186 | 6 | - | |
75 |
1,186 | 6 | - | |
65/66B |
100 | 35 | - | |
65 |
100 | 35 | - | |
9903 |
89,669 | 98,485 | 29,018 | |
67/77 |
18,398 | 20,059 | 5,922 | |
9904 |
71,271 | 78,426 | 23,096 | |
9905 |
71,271 | 78,426 | 23,096 | |
| Appropriation of the result | ||||
9906 |
171,993 | 101,523 | 23,096 | |
14P |
100,723 | 23,096 | - | |
694/7 |
- | 800 | - | |
694 |
- | 800 | - | |
| Document | ||||
The notes to these accounts have 4 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 31-03-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 89,453 | 98,930 | 29,053 | ||
| 72,141 | 78,843 | 23,131 | ||
| 1,743 | 0 | 1,250 | ||
| 65,765 | 94,333 | - | ||
| 173,630 | 102,955 | 25,029 | ||
| 88.3% | 79.2% | 64.6% | ||
| 8.80 | 4.87 | 2.87 | ||
| 0.13 | 0.26 | 0.55 | ||
| 40.8% | 76.0% | 90.2% | ||
| 36.1% | 60.2% | 58.3% | ||
| over 100 | over 100 | - |
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.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 |
|---|---|---|---|
| Tangible fixed assets | €1,743 | - | €1,250 |
| €870 | €417 | €35 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on Recode
The operating result for 2025 is 10% lower than in 2024.
Debt's share of the balance-sheet total falls from 20.8% to 11.7%. Equity is higher and debt is lower.