Turnover
≈ €280,000 estimated
The accounts state no turnover.
RED CODE
Lifetime
19 annual accounts with figures on one time axis, 35 filings since 1991Gross marginpeak €481,406 (2017)
€176,258▼ 51.0%
Resultlowest -€67,005 (2023)
€195,214▲ 4.9%
Equitypeak €7.1m (2025)
€7.1m▲ 2.8%
Debts
€3.3m▲ 583%
Staffpeak 1 FTE (2008)
-not published
Board2 names since 2021
2 directorsREYNAERT Christophe and 1 other
Documentsfilings and deeds
30-06-202631 days before the deadline
2025abbreviated format
Gross margin from €359,649 to €176,258Debts from €480,203 to €3.3mInvestments €3.1mCash from €30,473 to €513,816
Key points
from the 2025 annual accountsInvestments
€9,101 0.1 × depreciation
Green is investment, beige is depreciation. Machinery stands 29.9% higher than in 2024.
Staff
2 employees on 31-12-2025
In 2025, 1 person joined and 0 left.
Liquidity
0.38 was 3.71 in 2024
Short-term debts rose from €303,524 to €3.1m.
Filings
35 annual accounts since 1991
Eight of the last ten came late. The 2019 accounts came latest: 92 days after the end of the period.
Position in the sector
€7.1m
More equity than 95% of companies in head offices and management consultancy. Sector median €324,291 · 10,841 companies.
Checked score
94
Excellent
Financially stronger than 54% of medium-sized companies in head offices and management consultancy (NACE 70)
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 800 companies (NACE 70, medium-sized).
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 03-2025
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%▼ -0.1 percentage points vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: < 0.1%▼ -0.1 percentage points vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 0.38, cash €513,816
lowers risk
Size: total assets €10.4m
Figures for financial year 2025 (filed on 30-06-2026)
Sector: Activities of head offices; management consultancy activities (NACE 70)
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 70, medium-sized). It does better than 58% of them on solvency, 30% on liquidity, 74% on profitability and 52% on growth.
The bankruptcy probability was computed on 04-11-2026 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 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).
Credit verdict
Credit of up to €650,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.38 (3.71 in 2024), below 1. Short-term debt is 30% and cash 5% of total assets. 31.9% 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
Five signals.
lowers riskraises riskneutral
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 days early
2024
29 days late
2023
30 days late
2022
31 days late
2021
28 days late
2020
30 days late
2019
92 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 30 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0440165412
2 directors resigning, 2 reappointments
Resignations: REYNAERT Christophe and VANDEWALLE Annie · Reappointments: REYNAERT Christophe (director) and VANDEWALLE Annie (director) · Director discharge: REYNAERT Christophe · General meeting of 01-07-2024 · Gazette deed
First establishment
Kwekelaarstraat 3, Merchtem
Incorporation
published on 17-03-1990 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| RED CODE Merchtem | €10.4m | €176,258 | 68.1% | - |
| MONDO Bierbeek | €8.3m | €166,380 | 64.4% | - |
| INVEST & CORPORATE Liège | €10.6m | €184,098 | 41.4% | 3.1 |
| VICAJA Roeselare | €10.8m | €194,389 | 68.5% | - |
| IMGOR Edegem | €9.1m | €168,852 | 57.6% | - |
| ALBATER Uccle | €11.5m | €199,879 | 98.3% | 1.4 |
| NO.M Antwerp | €10.1m | €196,489 | 99.3% | 1 |
These companies have the same main activity as RED CODE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €8.3m and €12m, founded between 1988 and 1993.
Official details
Source: KBO- Status
- Active since 26-02-1990Normal situation
- Activity
- Business and other management consultancyNACE 70200and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.047.483.0271785 Merchtem, since 19-03-1990
- Financial year end
- 31 December
- Peppol
- Reachable since 29-12-2025
Annual accounts 2025
- Total assets
- €10.4m▲ 40.5%
- Employeeson 31-12-2025
- 2▲ 100%
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on RED CODE
RED CODE files the abbreviated format. That format states no turnover. The gross margin fell from €210,943 in 2007 to €176,258 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 RED CODE
- What is the company number of RED CODE?
- The company number of RED CODE is 0440.165.412. The VAT number is the same number with BE in front: BE 0440.165.412.
- Where is RED CODE based?
- The registered office is at Kwekelaarstraat 3, 1785 Merchtem.Company details
- What does RED CODE do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of RED CODE?
- RED CODE is a public limited company (NV).
- When was RED CODE founded?
- RED CODE was founded on 26-02-1990.
- Is RED CODE still active?
- Yes, RED CODE is an active enterprise in the KBO register.
- How many employees does RED CODE have?
- RED CODE had an average of 1.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does RED CODE fall under?
- In its 2025 annual accounts, RED CODE states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of RED CODE?
- The turnover in financial year 2025 is ≈ €280,000. This figure is estimated from the gross margin of €176,258 and 94 comparable companies (NACE 70200). It probably lies between €230,000 and €360,000.
- Is RED CODE profitable?
- In financial year 2025, RED CODE made a profit of €195,214.
- Where can I find the annual accounts of RED CODE?
- RED CODE filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of RED CODE due?
- RED CODE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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