Codivex
ActiveSummary
Codivex has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €504,105 and a net result of €54,034. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 488 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 14.05 against 10.25 in 2024; short-term debt: 6.1% and cash: 26.6% of total assets), and 6.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
93.9%
Return on assets
10.1%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
57 d late
2023
28 d late
2022
58 d late
2021
31 d late
2020
48 d late
2019
42 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 42 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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. Usually files around 31 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€504,105▼ 8.4%
2024 · €550,072
Total assets
€536,636▼ 10.4%
2024 · €598,750
Net result
€54,034▼ 1.0%
2024 · €54,585
Working capital
€424,444▼ 5.8%
2024 · €450,434
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€155,714▼ 33.5%€53,646▼ 65.5%€109,161▲ 103%€76,792▼ 29.7%€73,315▼ 4.5%
Net result€131,276within the sector's middle half▼ 43.2%€33,550within the sector's middle half▼ 74.4%€76,719within the sector's middle half▲ 129%€54,585within the sector's middle half▼ 28.8%€54,034within the sector's middle half▼ 1.0%
Equity€463,218within the sector's middle half▲ 29.8%€476,768within the sector's middle half▲ 2.9%€495,486within the sector's middle half▲ 3.9%€550,072within the sector's middle half▲ 11.0%€504,105within the sector's middle half▼ 8.4%
Total assets€699,936within the sector's middle half▼ 11.5%€940,153within the sector's middle half▲ 34.3%€716,189within the sector's middle half▼ 23.8%€598,750within the sector's middle half▼ 16.4%€536,636within the sector's middle half▼ 10.4%
Debt€236,718▼ 45.4%€463,385▲ 95.8%€220,702▼ 52.4%€48,678▼ 77.9%€32,531▼ 33.2%
Working capital€335,489within the sector's middle half▲ 47.6%€358,359within the sector's middle half▲ 6.8%€389,105within the sector's middle half▲ 8.6%€450,434within the sector's middle half▲ 15.8%€424,444within the sector's middle half▼ 5.8%
Solvency66.2%above the sector's middle half▲ 21.0pp50.7%within the sector's middle half▼ 15.5pp69.2%above the sector's middle half▲ 18.5pp91.9%above the sector's middle half▲ 22.7pp93.9%above the sector's middle half▲ 2.1pp
Current ratio2.57within the sector's middle half▲ 1.001.80within the sector's middle half▼ 0.772.79above the sector's middle half▲ 1.0010.25above the sector's middle half▲ 7.4614.05above the sector's middle half▲ 3.79
Return on assets (ROA)18.8%above the sector's middle half▼ 10.5pp3.6%within the sector's middle half▼ 15.2pp10.7%within the sector's middle half▲ 7.1pp9.1%within the sector's middle half▼ 1.6pp10.1%within the sector's middle half▲ 1.0pp
Staff (FTE)2.3within the sector's middle half▲ 21.1%0.4below the sector's middle half▼ 82.6%
above
within
below
the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €536,636
Fixed assets
€79,662 ▼ 20.0%
Current assets
€456,975 ▼ 8.4%
Equity and liabilities €536,636
Equity
€504,105 ▼ 8.4%
Debt
€32,531 ▼ 33.2%
Debt's share of the balance-sheet total falls from 8.1% to 6.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€93,291▼
2024 · €98,687
Cash flow
€74,009▼
2024 · €76,480
Quick ratio
9.89▲
2024 · 6.74
Debt to equity
0.06▼
2024 · 0.09
ROE
10.7%▲
2024 · 9.9%
Interest coverage
52.72▲
2024 · 19.07
Debt ≤ 1 year
€32,531▼
2024 · €48,678
Income taxes
€18,175▼
2024 · €18,640
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,810 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €157,990 | €43,629 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,468 | €23,649 | €24,902 | €21,895 | €19,976 | ▼ 8.8% |
| Other operating charges640/8 | €4,473 | €3,013 | €3,185 | €2,649 | €2,102 | ▼ 20.7% |
| Gross operating margin9900 | €341,645 | €123,937 | €137,248 | €101,336 | €95,393 | ▼ 5.9% |
| Operating profit (loss)9901 | €155,714 | €53,646 | €109,161 | €76,792 | €73,315 | ▼ 4.5% |
| Financial income75/76B | €1,840 | €17 | €8 | €1,608 | €663 | ▼ 58.8% |
| Recurring financial income75 | €1,840 | €17 | €8 | €1,608 | €663 | ▼ 58.8% |
| Financial charges65/66B | €6,132 | €4,967 | €4,029 | €5,174 | €1,770 | ▼ 65.8% |
| Recurring financial charges65 | €6,132 | €4,967 | €4,029 | €5,174 | €1,770 | ▼ 65.8% |
| Profit (loss) for the period before taxes9903 | €151,422 | €48,696 | €105,141 | €73,225 | €72,208 | ▼ 1.4% |
| Income taxes67/77 | €20,146 | €15,147 | €28,422 | €18,640 | €18,175 | ▼ 2.5% |
| Profit (loss) for the period9904 | €131,276 | €33,550 | €76,719 | €54,585 | €54,034 | ▼ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €131,276 | €33,550 | €76,719 | €54,585 | €54,034 | ▼ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €699,936 | €940,153 | €716,189 | €598,750 | €536,636 | ▼ 10.4% |
| Fixed assets21/28 | €150,144 | €131,355 | €109,807 | €99,637 | €79,662 | ▼ 20.0% |
| Tangible fixed assets22/27 | €150,144 | €131,355 | €109,807 | €99,637 | €79,662 | ▼ 20.0% |
| Land and buildings22 | €108,000 | €98,250 | €88,500 | €78,750 | €69,000 | ▼ 12.4% |
| Plant, machinery and equipment23 | €1,779 | €3,802 | €5,389 | €5,747 | €4,065 | ▼ 29.3% |
| Furniture and vehicles24 | €29,920 | €22,867 | €13,492 | €13,559 | €5,419 | ▼ 60.0% |
| Other tangible fixed assets26 | €10,446 | €6,436 | €2,427 | €1,581 | €1,178 | ▼ 25.5% |
| Current assets29/58 | €549,792 | €808,797 | €606,381 | €499,112 | €456,975 | ▼ 8.4% |
| Stocks and contracts in progress3 | €247,290 | €138,072 | €165,930 | €171,217 | €135,386 | ▼ 20.9% |
| Stocks30/36 | €247,290 | €138,072 | €165,930 | €171,217 | €135,386 | ▼ 20.9% |
| Amounts receivable within one year40/41 | €216,874 | €602,425 | €392,866 | €252,863 | €173,068 | ▼ 31.6% |
| Trade receivables40 | €204,588 | €577,356 | €304,842 | €171,569 | €159,049 | ▼ 7.3% |
| Other amounts receivable41 | €12,286 | €25,069 | €88,024 | €81,294 | €14,019 | ▼ 82.8% |
| Cash at bank and in hand54/58 | €78,510 | €61,178 | €43,367 | €75,033 | €142,592 | ▲ 90.0% |
| Deferred charges and accrued income490/1 | €7,118 | €7,123 | €4,218 | - | €5,928 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €699,936 | €940,153 | €716,189 | €598,750 | €536,636 | ▼ 10.4% |
| Equity10/15 | €463,218 | €476,768 | €495,486 | €550,072 | €504,105 | ▼ 8.4% |
| Contributions10/11 | €20,000 | €20,000 | €22,000 | €22,000 | €22,000 | = |
| Reserves13 | €549,987 | €549,987 | €547,987 | €547,987 | €447,987 | ▼ 18.2% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | €547,987 | €547,987 | €547,987 | €547,987 | €447,987 | ▼ 18.2% |
| Profit (loss) carried forward14 | -€106,769 | -€93,220 | -€74,501 | -€19,916 | €34,118 | ▲ 271% |
| Amounts payable17/49 | €236,718 | €463,385 | €220,702 | €48,678 | €32,531 | ▼ 33.2% |
| Amounts payable after more than one year17 | €22,415 | €12,946 | €3,426 | - | - | - |
| Financial debts170/4 | €22,415 | €12,946 | €3,426 | - | - | - |
| Amounts payable within one year42/48 | €214,304 | €450,439 | €217,276 | €48,678 | €32,531 | ▼ 33.2% |
| Current portion of amounts payable after more than one year42 | €9,288 | €9,468 | €9,675 | €3,426 | - | - |
| Financial debts43 | €75,000 | - | €50,000 | - | €5,060 | - |
| Credit institutions430/8 | €75,000 | - | €50,000 | - | €5,060 | - |
| Trade debts44 | €74,445 | €402,761 | €53,259 | €5,958 | €16,138 | ▲ 171% |
| Suppliers440/4 | €74,445 | €402,761 | €53,259 | €5,958 | €16,138 | ▲ 171% |
| Taxes, remuneration and social security45 | €30,571 | €18,201 | €46,334 | €39,286 | €11,332 | ▼ 71.2% |
| Taxes450/3 | €12,359 | €18,201 | €46,334 | €39,286 | €11,332 | ▼ 71.2% |
| Remuneration and social security454/9 | €18,212 | - | - | - | - | - |
| Other amounts payable47/48 | €25,000 | €20,008 | €58,008 | €8 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €131,276 | €33,550 | €76,719 | €54,585 | €54,034 | ▼ 1.0% |
| + Depreciation and write-downs630 | €23,468 | €23,649 | €24,902 | €21,895 | €19,976 | ▼ 8.8% |
| Operating cash flow (approximation) | €154,744 | €57,198 | €101,620 | €76,480 | €74,009 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | -€4,860 | -€3,353 | -€11,725 | €0 | ▲ 100% |
| Change in cash | - | -€17,332 | -€17,810 | €31,665 | €67,560 | ▲ 113% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 57 days late
2024
31-12
Financial
Liquidity quadruplescurrent ratio 10.25
Current ratio from 2.79 to 10.25; short-term debt falls from €217,276 to €48,678.
31-12
Financial
Equity above €500,000Eq €550,072 ▲11%
5 profitable years in a row build equity to €550,072.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 58 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
17-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 48 days late
2020
31-12
Financial
Back to profitnet €230,986
Net result €230,986 after 2 loss-making years.
31-12
Financial
Equity above €200,000Eq €356,943 ▲91.9%
Equity rises from €185,957 to €356,943.
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 42 days late
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lille · 1 establishment unit since 2007
Ground area
1.4 ha
Building footprint
7,609 m²
Volume, LiDAR
51,524 m³
Parcel 13047A0198/00Y002, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
CODIVEX
since 20072.164.897.864
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13047A0198/00Y002 | Flanders | 1.4 ha | 1 · 7,609 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- Zeanco
- Codivex
Highest known parent: Zeanco. The sources do not say who stands above it.
Owners 1
- Zeancoparent99.5%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 384 EUR awarded · 384 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 117 EUR | 117 EUR |
| 2022 | 1 | 267 EUR | 267 EUR |
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Of 1,226 companies in sector 33200 we hold annual accounts for 679. 452 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
Founded20-08-2007
Fiscal year end31-12
Activities, NACEBEL 2025
33200Installation of industrial machinery and equipment
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0891490178
Also
9925:BE0891490178
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.