ACTIVE

CODERA

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Financial year 2025 · closed on 31/12/2025

Net result

155,2 k €

-62.4% YoY

Gross margin

1,1 M €

+2.5% YoY

Equity

2,2 M €

-36.5% YoY

What does CODERA do?

CODERA is a Private limited company incorporated in 1976. Its main activity is: Wholesale of electrical household appliances. Its registered office is in Waregem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0416.664.785

Incorporation

31/12/1976

Legal form

Private limited company

Registered office

Haantjesstraat 8
8790 Waregem · FlandreSee on map

Contributed capital

136 341,44 €

Latest accounts

31/12/2025

Activities (NACE)

46431Wholesale of electrical household appliances· main 46494Wholesale of other household goods 46494Wholesale of other household goods 46900Non-specialised wholesale trade 46900Non-specialised wholesale trade 51900Air transport+3

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,1 M €	+2.5%	1,0 M €	-4.0%	1,1 M €	-5.6%	1,2 M €	-1.0%	1,2 M €	+0.6%	1,2 M €	+47.7%	788,2 k €	+10.3%	714,3 k €	+25.5%	569,1 k €	-21.4%	724,4 k €	-0.5%	728,2 k €	+44.6%	503,5 k €	-15.7%	597,1 k €	-28.2%	831,2 k €	+80.1%	461,6 k €	+36.0%	339,4 k €	-10.5%	379,3 k €	+42.3%	266,6 k €	+21.0%	220,3 k €	+6.4%	207,1 k €
EBITDA	521,6 k €	+1.3%	514,7 k €	-6.5%	550,6 k €	+2.2%	538,9 k €	+0.2%	537,7 k €	-20.5%	676,2 k €	+102%	335,5 k €	+75.4%	191,3 k €	+97.6%	96,8 k €	-63.4%	264,4 k €	-22.1%	339,3 k €	+153%	134,2 k €	-53.4%	288,3 k €	-36.6%	454,5 k €	+176%	164,6 k €	+101%	82,0 k €	-43.5%	144,9 k €	+76.2%	82,3 k €	+142%	33,9 k €	-32.8%	50,5 k €
Operating result	288,7 k €	-43.9%	514,7 k €	-6.5%	550,6 k €	+10.3%	499,0 k €	-1.6%	507,4 k €	-20.3%	636,3 k €	+89.7%	335,5 k €	+79.9%	186,6 k €	+111%	88,5 k €	-64.9%	252,1 k €	-24.5%	334,0 k €	+163%	127,2 k €	-54.8%	281,3 k €	-36.9%	445,7 k €	+173%	163,6 k €	+112%	77,2 k €	-30.1%	110,4 k €	+42.5%	77,5 k €	+158%	30,0 k €	-29.4%	42,6 k €
Net result	155,2 k €	-62.4%	412,4 k €	-2.6%	423,4 k €	+19.7%	353,7 k €	-23.5%	462,2 k €	+0.2%	461,5 k €	+50.4%	306,7 k €	+124%	136,9 k €	+93.1%	70,9 k €	-59.2%	173,5 k €	-19.3%	214,9 k €	+293%	54,7 k €	+23.5%	44,3 k €	-87.1%	344,3 k €	+308%	84,3 k €	+152%	33,5 k €	+5.8%	31,7 k €	+23.2%	25,7 k €	+1283%	1,9 k €	-82.5%	10,6 k €
Balance sheet
Equity	2,2 M €	-36.5%	3,5 M €	+13.4%	3,1 M €	+16.0%	2,7 M €	+5.0%	2,5 M €	+22.4%	2,1 M €	+24.2%	1,7 M €	+22.6%	1,4 M €	+11.2%	1,2 M €	+6.2%	1,1 M €	+17.8%	973,7 k €	+28.3%	758,8 k €	+7.8%	704,0 k €	+6.7%	659,7 k €	+109%	315,4 k €	+36.5%	231,1 k €	+17.0%	197,6 k €	+19.1%	165,9 k €	+18.3%	140,2 k €	+1.3%	138,4 k €
Total assets	4,8 M €	+15.4%	4,1 M €	+7.3%	3,8 M €	+12.7%	3,4 M €	-18.1%	4,2 M €	+38.8%	3,0 M €	+22.2%	2,5 M €	+7.5%	2,3 M €	+19.2%	1,9 M €	+6.1%	1,8 M €	+16.2%	1,6 M €	+5.0%	1,5 M €	-3.4%	1,5 M €	-0.2%	1,5 M €	-0.5%	1,5 M €	+21.5%	1,3 M €	+10.3%	1,2 M €	+76.6%	652,4 k €	-10.3%	727,2 k €	+6.0%	685,8 k €
Cash	865,8 k €	-36.6%	1,4 M €	+12.6%	1,2 M €	+33.3%	909,7 k €	-60.6%	2,3 M €	+660%	304,4 k €	+34.0%	227,1 k €	+232%	68,3 k €	-83.8%	421,9 k €	+944%	40,4 k €	-74.9%	161,1 k €	+318%	38,6 k €	-33.9%	58,4 k €		–		–		–		–		–		–		–
Debts	2,3 M €	+268%	633,9 k €	-17.2%	765,5 k €	+1.2%	756,6 k €	-53.7%	1,6 M €	+74.9%	935,1 k €	+17.8%	793,7 k €	-14.7%	930,2 k €	+33.1%	698,9 k €	+5.9%	659,8 k €	+13.5%	581,1 k €	-19.5%	721,6 k €	-12.9%	828,6 k €	-5.1%	873,1 k €	-28.9%	1,2 M €	+25.6%	977,8 k €	+7.4%	910,4 k €	+87.1%	486,5 k €	-17.1%	587,0 k €	+7.2%	547,5 k €
Other
Workforce	–		–		–		–		5,0 ETP	0.0%	5,0 ETP		–		5,0 ETP	-13.8%	5,8 ETP	0.0%	5,8 ETP	+9.4%	5,3 ETP	+10.4%	4,8 ETP	0.0%	4,8 ETP	0.0%	4,8 ETP	+60.0%	3,0 ETP	0.0%	3,0 ETP	-25.0%	4,0 ETP	+33.3%	3,0 ETP	0.0%	3,0 ETP	+50.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

COVEMAEKER Joseph

Mandate

Active

Joseph COVEMAEKER

Mandate

Active

Ended mandates

Erna DE RAMMELAERE

Mandate

Ended

Erna DE RAMMELAERE

Manager

Ended

Joseph COVEMAEKER

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/05/2026	14/01/2026	30/08/2024	07/10/2023	15/09/2022	31/08/2021
General meeting	08/05/2026	09/05/2025	10/05/2024	06/10/2023	13/06/2022	13/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	08/05/2026	23/05/2026	Dutch	PDF
Micro model	31/12/2024	09/05/2025	14/01/2026	Dutch	PDF
Micro model	31/12/2023	10/05/2024	30/08/2024	Dutch	PDF
Micro model	31/12/2022	06/10/2023	07/10/2023	Dutch	PDF
Abridged model	31/12/2021	13/06/2022	15/09/2022	Dutch	PDF
Abridged model	31/12/2020	13/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	03/07/2020	03/07/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	15/05/2018	21/07/2018	Dutch	PDF
Abridged model	31/12/2016	16/05/2017	31/07/2017	Dutch	PDF
Abridged model	31/12/2015	17/05/2016	31/07/2016	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	09/07/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	01/07/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	25/10/2013	25/10/2013	Dutch	PDF
Abridged model	31/12/2012	10/05/2013	31/08/2013	Dutch	PDF
Abridged model	31/12/2011	11/05/2012	30/07/2012	Dutch	PDF
Abridged model	31/12/2010	13/05/2011	29/07/2011	Dutch	PDF
Abridged model	31/12/2009	07/05/2010	11/08/2010	Dutch	PDF
Abridged model	31/12/2008	08/05/2009	21/09/2009	Dutch	PDF
Abridged model	31/12/2007	09/05/2008	26/01/2009	Dutch	PDF
Abridged model	31/12/2006	11/05/2007	14/11/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

COVEMAEKER Joseph

Mandate

Active

Joseph COVEMAEKER

Mandate

Active

Ended mandates

Erna DE RAMMELAERE

Mandate

Ended

Erna DE RAMMELAERE

Manager

Ended

Joseph COVEMAEKER

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares22/07/2005
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025155,2 k €↓
2024
Annual accounts 2024412,4 k €↓
2023
Annual accounts 2023423,4 k €↑
2022
Annual accounts 2022353,7 k €↓
2021
Annual accounts 2021462,2 k €↑
2020
Annual accounts 2020461,5 k €↑
2019
Annual accounts 2019306,7 k €↑
2018
Annual accounts 2018136,9 k €↑
2017
Annual accounts 201770,9 k €↓
2016
Annual accounts 2016173,5 k €↓
2015
Annual accounts 2015214,9 k €↑
2014
Annual accounts 201454,7 k €↑
2013
Annual accounts 201344,3 k €↓
2012
Annual accounts 2012344,3 k €↑
2011
Annual accounts 201184,3 k €↑
2010
Annual accounts 201033,5 k €↑
2009
Annual accounts 200931,7 k €↑
2008
Annual accounts 200825,7 k €↑
2007
Annual accounts 20071,9 k €↓
2006
Annual accounts 200610,6 k €
31/12/1976
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

CODERA

Overview

What does CODERA do?

Trend over 20 financial years

Indicative valuation

Board of directors

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