ACTIVE

CODELA

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Financial year 2025 · closed on 31/12/2025

Net result

96,3 k €

-28.7% YoY

Gross margin

159,9 k €

+16.6% YoY

Equity

2,6 M €

+3.8% YoY

Workforce

0,0 ETP

What does CODELA do?

CODELA is a Private limited company incorporated in 1986. Its registered office is in Waterloo.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.613.394

Incorporation

20/10/1986

Legal form

Private limited company

Registered office

Chaussée Bara 303
1410 Waterloo · WallonieSee on map

Contributed capital

32 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	159,9 k €	+16.6%	137,1 k €	-49.3%	270,4 k €	-0.9%	272,8 k €	-15.0%	321,1 k €	+51.8%	211,5 k €	-47.4%	402,2 k €	-30.1%	575,8 k €	-14.2%	671,4 k €	+30.4%	514,8 k €	+11.3%	462,5 k €	+3.9%	444,9 k €	-16.9%	535,7 k €	+30.7%	409,8 k €	+110%	195,1 k €	-25.1%	260,5 k €	-0.2%	261,0 k €	-36.0%	407,7 k €
EBITDA	145,3 k €	+18.6%	122,5 k €	-51.8%	254,0 k €	-2.4%	260,1 k €	-15.4%	307,5 k €	+50.1%	204,8 k €	-48.2%	395,5 k €	-30.1%	566,1 k €	-14.8%	664,6 k €	+30.8%	508,1 k €	+11.5%	455,9 k €	+4.0%	438,2 k €	-17.2%	529,4 k €	+31.0%	404,2 k €	+113%	189,6 k €	-25.3%	253,9 k €	-0.6%	255,3 k €	-36.5%	402,0 k €
Operating result	107,7 k €	+17.8%	91,4 k €	-59.0%	223,2 k €	-2.1%	228,1 k €	-17.1%	275,2 k €	+87.6%	146,7 k €	-54.6%	323,0 k €	-31.6%	472,3 k €	-17.2%	570,5 k €	+36.4%	418,2 k €	+12.8%	370,9 k €	+2.2%	362,8 k €	-19.2%	449,2 k €	+42.7%	314,7 k €	+207%	102,4 k €	-32.9%	152,6 k €	-13.7%	176,8 k €	-42.0%	304,6 k €
Net result	96,3 k €	-28.7%	135,0 k €	-28.0%	187,5 k €	+41.3%	132,7 k €	-46.2%	246,6 k €	+9863%	2,5 k €	-99.1%	284,4 k €	-10.9%	319,0 k €	-9.9%	354,1 k €	+24.6%	284,1 k €	+9.9%	258,5 k €	-2.4%	264,7 k €	-13.6%	306,5 k €	+33.0%	230,5 k €	+97.5%	116,7 k €	+137%	49,3 k €	-58.6%	119,1 k €	-44.7%	215,4 k €
Balance sheet
Equity	2,6 M €	+3.8%	2,6 M €	+5.6%	2,4 M €	+6.1%	2,3 M €	-5.8%	2,4 M €	+16.3%	2,1 M €	+0.1%	2,1 M €	+6.0%	2,0 M €	+4.6%	1,9 M €	+0.8%	1,9 M €	+10.7%	1,7 M €	+18.2%	1,4 M €	-2.4%	1,5 M €	-15.8%	1,7 M €	+15.4%	1,5 M €	+8.5%	1,4 M €	+3.7%	1,3 M €	+9.8%	1,2 M €
Total assets	2,7 M €	+3.1%	2,7 M €	+4.4%	2,5 M €	-3.2%	2,6 M €	-0.4%	2,6 M €	+22.1%	2,2 M €	-8.1%	2,4 M €	+0.7%	2,3 M €	-2.1%	2,4 M €	+15.5%	2,1 M €	-16.0%	2,5 M €	+4.1%	2,4 M €	-8.8%	2,6 M €	+15.3%	2,2 M €	+19.2%	1,9 M €	+8.0%	1,7 M €	-1.9%	1,8 M €	+7.6%	1,7 M €
Cash	127,9 k €	+34.8%	94,9 k €	-48.3%	183,7 k €	-25.2%	245,4 k €	-14.3%	286,4 k €	+257%	80,1 k €	-53.5%	172,4 k €	+24.9%	138,0 k €	-36.2%	216,4 k €	-74.9%	863,6 k €	-31.6%	1,3 M €	-6.2%	1,3 M €	+6.7%	1,3 M €	+56.5%	806,0 k €	+94.1%	415,2 k €	-32.6%	616,1 k €	+820%	67,0 k €	+44.7%	46,3 k €
Debts	86,7 k €	-14.1%	100,8 k €	-20.0%	126,0 k €	-63.7%	347,3 k €	+56.8%	221,5 k €	+167%	83,1 k €	-70.0%	276,5 k €	-26.7%	377,2 k €	-26.4%	512,4 k €	+147%	207,1 k €	-73.4%	779,3 k €	-17.2%	940,6 k €	-17.1%	1,1 M €	+119%	517,5 k €	+33.8%	386,7 k €	+6.2%	364,2 k €	-18.6%	447,6 k €	+1.5%	441,2 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 15 ended

Active mandates

Jeanine Delaere

Director

Active

Philippe Cleda

Director

Active

Ended mandates

Philippe Cleda

Director · since 09 décembre 2014

Ended

Philippe Cleda

Manager · since 09 décembre 2014

Ended

Jeanine Delaere

Director · since 01 janvier 2013

Ended

Jeanine Delaere

Manager · since 01 janvier 2013

Ended

At this address

Other companies at this address

Company	CBE no.
CODELA INVEST● Active	0718.908.471

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged 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	09/09/2026	22/07/2025	26/07/2024	15/06/2023	18/07/2022	12/07/2021
General meeting	20/07/2026	30/06/2025	10/06/2024	22/05/2023	30/06/2022	14/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	20/07/2026	09/09/2026	French	PDF
Abridged model	31/12/2024	30/06/2025	22/07/2025	French	PDF
Abridged model	31/12/2023	10/06/2024	26/07/2024	French	PDF
Abridged model	31/12/2022	22/05/2023	15/06/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	18/07/2022	French	PDF
Abridged model	31/12/2020	14/06/2021	12/07/2021	French	PDF
Abridged model	31/12/2019	08/06/2020	30/06/2020	French	PDF
Abridged model	31/12/2018	11/06/2019	05/07/2019	French	PDF
Abridged model	31/12/2017	11/06/2018	03/07/2018	French	PDF
Abridged model	31/12/2016	12/06/2017	07/07/2017	French	PDF
Abridged model	31/12/2015	13/06/2016	01/07/2016	French	PDF
Abridged model	31/12/2014	23/06/2015	24/06/2015	French	PDF
Abridged model	31/12/2013	10/06/2014	27/06/2014	French	PDF
Abridged model	31/12/2012	10/06/2013	27/06/2013	French	PDF
Abridged model	31/12/2011	11/06/2012	11/06/2012	French	PDF
Abridged model	31/12/2010	14/06/2011	27/06/2011	French	PDF
Abridged model	31/12/2009	14/06/2010	12/07/2010	French	PDF
Abridged model	31/12/2008	30/06/2009	27/07/2009	French	PDF
Abridged model	31/12/2007	09/06/2008	27/06/2008	French	PDF
Abridged model	31/12/2006	11/06/2007	04/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 15 ended

Active mandates

Jeanine Delaere

Director

Active

Philippe Cleda

Director

Active

Ended mandates

Philippe Cleda

Director · since 09 décembre 2014

Ended

Philippe Cleda

Manager · since 09 décembre 2014

Ended

Jeanine Delaere

Director · since 01 janvier 2013

Ended

Jeanine Delaere

Manager · since 01 janvier 2013

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/11/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates09/01/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates16/07/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates18/06/2012
DEMISSIONS, NOMINATIONS
PDF
Mandates23/12/2011
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates19/07/2011
DEMISSIONS, NOMINATIONS
PDF
Registered office13/05/2011
SIEGE SOCIAL
PDF
Mandates07/01/2010
DEMISSIONS, NOMINATIONS
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 202596,3 k €↓
2024
Annual accounts 2024135,0 k €↓
2023
Annual accounts 2023187,5 k €↑
2022
Annual accounts 2022132,7 k €↓
2021
Annual accounts 2021246,6 k €↑
2018
Annual accounts 20182,5 k €↓
2017
Annual accounts 2017284,4 k €↓
2016
Annual accounts 2016319,0 k €↓
2015
Annual accounts 2015354,1 k €↑
2014
Annual accounts 2014284,1 k €↑
2013
Annual accounts 2013258,5 k €↓
2012
Annual accounts 2012264,7 k €↓
2011
Annual accounts 2011306,5 k €↑
2010
Annual accounts 2010230,5 k €↑
2009
Annual accounts 2009116,7 k €↑
2008
Annual accounts 200849,3 k €↓
2007
Annual accounts 2007119,1 k €↓
2006
Annual accounts 2006215,4 k €
20/10/1986
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

CODELA

Overview

What does CODELA do?

Trend over 18 financial years

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