Checked.be
Active
BE 0632.779.993Private limited company
GOdevelop
Nijverheidsweg 88 ·3945 Tessenderlo-Ham, Belgium· 11 yrs active
Sector: Computer programming
(62100)
Conclusion
GOdevelop has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111k and a net result of €49k. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 22% of 2591 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €111k |
| Net result | €49k |
| Staff (FTE) | 12.8 |
| Better than sector | 22% |
Financial profile
68
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
68
Profitability
100
Solvency
19
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2015, 11 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
68
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€8k
estimate, not credit advice
Score history
70
2021
76
2022
56
2023
56
2024
68
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.02 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.02 (≥ 1.0)
+5
Leverage
Debt/equity 7.44 (> 3.0)
-10
Profitability
ROE 44% (≥ 10%)
+10
Interest coverage
Interest coverage 226.5× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 17-04-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Net result: growth of ~40.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 11.8% | 46.0% | |
| Net result | €49k | €24k | |
| Equity | €111k | €141k | |
| Gross operating margin | €926k | €90k | |
| Staff costs | €805k | €282k |
€103k
-82.3%
21-25
€49k
-90.4%
21-25
€93k
-83.7%
21-25
€936k
+15.6%
21-25
€111k
+9.0%
21-25
€14k
-
21-25
13
+4.1%
21-25
€805k
+11.0%
21-25
€12k
-28.9%
21-25
€825k
+16.5%
21-25
€812k
+14.7%
21-25
€4k
-70.4%
21-25
1.02
+7.3%
21-25
1.02
+7.3%
21-25
11.8%
-5.7%
21-25
7.44
+6.9%
21-25
44.3%
-91.2%
21-25
5.2%
-91.7%
21-25
226.45
-76.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €103k | €583k | €416k | €302k | €115k |
| Net profit | €49k | €514k | €367k | €261k | €87k |
| Cash flow | €93k | €569k | €408k | €283k | €98k |
| Staff costs | €805k | €725k | €564k | €397k | - |
| Income taxes | €12k | €17k | €11k | €16k | €15k |
| Dividends | - | - | - | - | - |
| Total assets | €936k | €810k | €611k | €523k | €296k |
| Equity | €111k | €102k | €88k | €81k | €69k |
| Debt | €825k | €708k | €523k | €442k | €226k |
| of which ≤ 1y | €812k | €707k | €516k | €427k | €224k |
| of which > 1y | - | - | €4k | €13k | - |
| Working capital | €14k | €-37k | €-70k | €26k | €12k |
| Employees (FTE) | 12.8 | 12.3 | 10.9 | 8.2 | 7.2 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.02 | 0.95 | 0.86 | 1.06 | 1.05 |
| Quick ratio | 1.02 | 0.95 | 0.86 | 1.06 | 1.05 |
| Working capital ratio | 1.5% | -4.5% | -11.5% | 5.0% | 4.1% |
| Solvency | 11.8% | 12.6% | 14.3% | 15.4% | 23.4% |
| Debt / equity | 7.44 | 6.96 | 5.97 | 5.49 | - |
| Long-term debt ratio | - | - | 0.04 | 0.16 | - |
| Interest coverage | 226.45 | 950.91 | 218.50 | 90.13 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 5.2% | 63.5% | 60.1% | 50.0% | 29.5% |
| ROE | 44.3% | 505.3% | 419.1% | 324.2% | 125.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €936k | €810k | €611k | €523k | €296k |
| Fixed assets | 21/28 | €110k | €139k | €164k | €69k | €59k |
| Tangible fixed assets | 22/27 | €110k | €139k | €164k | €69k | €59k |
| Current assets | 29/58 | €825k | €671k | €446k | €454k | €236k |
| Amounts receivable within one year | 40/41 | €394k | €414k | €373k | €431k | €199k |
| Cash & bank | 54/58 | €428k | €248k | €69k | €16k | €24k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €936k | €810k | €611k | €523k | €296k |
| Equity | 10/15 | €111k | €102k | €88k | €81k | €69k |
| Contributions / capital | 10/11 | €6k | €6k | €6k | €6k | - |
| Reserves | 13 | €105k | €96k | €81k | €74k | €63k |
| Amounts payable | 17/49 | €825k | €708k | €523k | €442k | €226k |
| Amounts payable after one year | 17 | - | - | €4k | €13k | - |
| Amounts payable within one year | 42/48 | €812k | €707k | €516k | €427k | €224k |
| Trade debts payable within one year | 44 | €677k | €93k | €70k | €28k | €52k |
| Income statement | ||||||
| Gross operating margin | 9900 | €926k | €1.32M | €986k | €703k | €475k |
| Operating result | 9901 | €59k | €529k | €374k | €280k | €105k |
| Financial income | 75 | €2k | €3k | €5k | €763 | €2k |
| Financial charges | 65 | €455 | €614 | €2k | €3k | €4k |
| Result before taxes | 9903 | €61k | €531k | €378k | €277k | €102k |
| Income taxes | 67/77 | €12k | €17k | €11k | €16k | €15k |
| Net result for the period | 9904 | €49k | €514k | €367k | €261k | €87k |
| Result to be appropriated | 9905 | €49k | €514k | €367k | €280k | €87k |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Private limited company(610) |
| Incorporation | 26-06-2015 |
| Status | Active |
| Postal code | 3945 |
Establishment units
Nijverheidsweg 88, 3945 Tessenderlo-Ham
since 20152.243.556.748
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71046B0788/00F003 | Flanders | 4,025 m² | 1 · 851 m² | 8.3 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
17-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €49k ▼90.4%
Net result drops to €49k, the lowest in the series.
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Highest result since 2021net €514k ▲40.1%
Operating result €529k, net result €514k, both a record.
30-09
Financial
Equity above €100kEq €102k ▲16.2%
4 profitable years in a row build equity to €102k.
19-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-03
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.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming62100IT consultancy62020Computer consultancy and computer facilities management62200
Names & trade names
| Legal nameNL | GOdevelop |
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