ACTIVE

Belgocodex

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Financial year 2024 · Closed on 31/12/2024

Net result-319 k €-168,9 %over 1 year

Gross margin-103,2 k €-108,6 %over 1 year

Equity15,3 M €-17,0 %over 1 year

Workforce1,0 ETP0,0 %over 1 year

Identity

Source · BCE/KBO

Belgocodex is a Public limited company incorporated in 1956. Its main activity is: Management consultancy activities. Its registered office is in Lasne. It employs on average 1,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0404.755.066
Incorporation: 24/03/1956
Legal form: Public limited company
Registered office: Chaussée de Louvain 656
1380 Lasne · WallonieSee on map
Contributed capital: 5 789 000,00 €
Latest accounts: 31/12/2024
Average workforce: 1,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Joint committees (1)

Signals

Solid equityLow riskGood liquidityHealthy social debts

Financials

Source · NBB, 19 filings

Trend over 19 financial years

	2024		2023		2022		2021		2020
Income statement
Gross margin	-103,2 k €	-109%	1,2 M €	+2738%	-45,3 k €	+77.6%	-201,9 k €	-150%	-80,7 k €
EBITDA	-476 k €	-145%	1,1 M €	+301%	-531,6 k €	-125%	-236,6 k €	-90.8%	-124 k €
Operating result	-246,8 k €	-124%	1 M €	+580%	-217,4 k €	+62.4%	-578,9 k €	-257%	-162,2 k €
Net result	-319 k €	-169%	463 k €	+163%	-738 k €	-255%	474,6 k €	+410%	93,1 k €
Balance sheet
Equity	15,3 M €	-17.0%	18,4 M €	-0.2%	18,5 M €	-3.8%	19,2 M €	+2.5%	18,7 M €
Total assets	23,7 M €	-8.8%	26 M €	+3.9%	25 M €	-14.9%	29,4 M €	-1.5%	29,8 M €
Cash	694,6 k €	+35.1%	514,2 k €	-16.1%	613,2 k €	-2.3%	627,5 k €	-23.5%	820,7 k €
Debts	8,4 M €	+11.0%	7,5 M €	+14.8%	6,6 M €	-35.7%	10,2 M €	-8.1%	11,1 M €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP		–		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2024

3 active · 11 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Charles-Emmanuel DELWART	Managing director22/12/2014 → 10/05/2030
Nathalie DELWART	Director10/05/2024 → 10/05/2030
Olivia DELWART	Director12/05/2010 → 10/05/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard DELWART	Director09/05/2018 → 2021 accounts
Jean-Marie DELWART	Managing director09/05/2018 → 2022 accounts

Other companies at this address

Chaussée de Louvain 656 1380 Lasne

Company	CBE no.
ALANINE● Active	0426.265.015
GREENBE● Active	0547.778.301

Full financial information

Source · NBB

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/07/2025	22/07/2024	11/08/2023	09/11/2022	16/07/2021	20/08/2020
General meeting	28/07/2025	10/05/2024	30/06/2023	30/09/2022	12/05/2021	18/06/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 19 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	28/07/2025	31/07/2025	French	PDF
Abridged model	31/12/2023	10/05/2024	22/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	11/08/2023	French	PDF
Abridged model	31/12/2021	30/09/2022	09/11/2022	French	PDF
Abridged model	31/12/2020	12/05/2021	16/07/2021	French	PDF
Abridged model	31/12/2019	18/06/2020	20/08/2020	French	PDF
Abridged model	31/12/2018	09/05/2019	29/08/2019	French	PDF
Abridged model	31/12/2017	09/05/2018	01/08/2018	French	PDF
Abridged model	31/12/2016	10/05/2017	17/08/2017	French	PDF
Abridged model	31/12/2015	10/05/2016	26/08/2016	French	PDF
Abridged model	31/12/2014	13/05/2015	21/08/2015	French	PDF
Abridged model	31/12/2013	13/05/2014	06/08/2014	French	PDF
Abridged model	31/12/2012	14/05/2013	16/07/2013	French	PDF
Abridged model	31/12/2011	09/05/2012	24/08/2012	French	PDF
Abridged model	31/12/2010	11/05/2011	27/05/2011	French	PDF
Abridged model	31/12/2009	12/05/2010	14/05/2010	French	PDF
Abridged model	31/12/2008	13/05/2009	28/05/2009	French	PDF
Abridged model	31/12/2007	14/05/2008	06/06/2008	French	PDF
Abridged model	31/12/2006	09/05/2007	04/06/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2024

3 active · 11 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Charles-Emmanuel DELWART	Managing director22/12/2014 → 10/05/2030
Nathalie DELWART	Director10/05/2024 → 10/05/2030
Olivia DELWART	Director12/05/2010 → 10/05/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Bernard DELWART	Director09/05/2018 → 2021 accounts
Jean-Marie DELWART	Managing director09/05/2018 → 2022 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring15/09/2026
Procès-verbal d’opération assimilée à une fusion par absorption de la
PDF
Restructuring15/09/2026
Fusion par absorption de la société à responsabilité limi-tée « BELGOBIO »
PDF
Restructuring19/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring19/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other08/05/2026
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office04/03/2026
SIEGE SOCIAL
PDF
Mandates03/04/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/11/2024
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation1956

Name

Registered office

Annual accounts

Filings19 filings

Mandates

Nathalie DELWART

Olivia DELWART

Charles-Emmanuel DELWART

Nathalie DELWART - BOONEN

Bernard DELWART

Jean-Marie DELWART

Nathalie DELWART BOONEN

FIND

Alexandre von HEEREN

Nathalie DELWART-BOONEN

Bernart DELWART

JEAN MARIE DELWART

Show the 2 other mandates

19661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

Belgocodex

Chaussée de Tervuren 198 F bte 1, 1410 Waterloo

Director

Managing director

Director

Managing directorChairman of the board of directors

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Chaussée de Louvain 656, 1380 LasneCurrent		CBE
Drève du Château 1 bte 4, 1410 Waterloo	accounts 2024	Accounts 2024 · 2025-00349989
Square d'Argenteuil 2, 1410 Waterloo	accounts 2023	Accounts 2023 · 2024-00299257
Chaussée de Tervuren 198 F bte 1, 1410 Waterloo	accounts 2021 → 2022	Accounts 2022 · 2023-00338247

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
BelgocodexCurrent	accounts 2021 → 2024	Accounts 2024 · 2025-00349989

Events

2024
Annual accounts 2024-319 k €↓
2023
Annual accounts 2023463 k €↑
2022
Annual accounts 2022-738 k €↓
2021
Annual accounts 2021474,6 k €↑
2020
Annual accounts 202093,1 k €↓
2019
Annual accounts 2019764,6 k €↑
2018
Annual accounts 2018-715,2 k €↓
2017
Annual accounts 20171 M €↑
2016
Annual accounts 2016329,2 k €↓
2015
Annual accounts 2015637,4 k €↑
2014
Annual accounts 2014534,6 k €↑
2013
Annual accounts 2013484,2 k €↑
2012
Annual accounts 2012226 k €↑
2011
Annual accounts 2011-2 M €↓
2010
Annual accounts 2010-318,3 k €↓
2009
Annual accounts 2009968,8 k €↑
2008
Annual accounts 2008-3,5 M €↓
2007
Annual accounts 20072,7 M €↑
2006
Annual accounts 2006810,6 k €
24/03/1956
IncorporationPublic limited company

Belgocodex

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline

Registered offices

Company names

Events