ACTIVE

CODAN

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Financial year 2024 · Closed on 31/12/2024

Net result1,5 M €+422,9 %over 1 year

Gross margin1,4 M €+578,6 %over 1 year

Equity6,3 M €+31,8 %over 1 year

Workforce2,1 ETP+31,3 %over 1 year

Identity

Source · BCE/KBO

CODAN is a Public limited company incorporated in 1987. Its main activity is: Raising of horses and other equines. Its registered office is in Sint-Katelijne-Waver. It employs on average 2,1 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0430.222.912
Incorporation: 07/01/1987
Legal form: Public limited company
Registered office: Kleuterstraat 33
2860 Sint-Katelijne-Waver · FlandreSee on map
Contributed capital: 887 486,69 €
Latest accounts: 31/12/2024
Average workforce: 2,1 ETP

Activities (NACE)

01430Raising of horses and other equines· main 01430Raising of horses and other equines 46110Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods 46110Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods 47522Retail sale of hardware, paints and glass in specialised stores 47522Retail sale of hardware, paints and glass in specialised stores+6

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 19 filings

Trend over 19 financial years

	2024		2023		2022		2021		2020
Income statement
Gross margin	1,4 M €	+579%	210,5 k €	-72.2%	757,7 k €	-23.3%	987,3 k €	+121%	446,5 k €
EBITDA	1,3 M €	+768%	145,2 k €	-79.0%	691,5 k €	-24.9%	920,6 k €	+142%	380,6 k €
Operating result	1,1 M €	+103318%	-1 k €	-100%	547,4 k €	-23.8%	718,1 k €	+205%	235,3 k €
Net result	1,5 M €	+423%	289,2 k €	-62.6%	773,5 k €	+15.3%	670,8 k €	+208%	218,1 k €
Balance sheet
Equity	6,3 M €	+31.8%	4,8 M €	-5.6%	5 M €	+18.1%	4,3 M €	+18.7%	3,6 M €
Total assets	9,8 M €	+59.9%	6,1 M €	+2.6%	6 M €	+12.3%	5,3 M €	+5.8%	5 M €
Cash	611 k €	-0.5%	614 k €	-53.7%	1,3 M €	+168%	495,6 k €	+47.5%	335,9 k €
Debts	3,2 M €	+142%	1,3 M €	+47.4%	902,1 k €	-7.9%	979,5 k €	-28.0%	1,4 M €
Other
Workforce	2,1 ETP	+31.3%	1,6 ETP	+6.7%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2024

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
IMUCO0416.715.562Represented by Ingrid VERMEIREN	Director01/08/2007 → 11/05/2029
MARC ANDRIES	Director05/06/2019 → 11/05/2029Managing director05/06/2007 → 2021 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ingrid VERMEIREN	Director05/06/2007 → 2012 accounts

Other companies at this address

Kleuterstraat 33 2860 Sint-Katelijne-Waver

Company	CBE no.
Andries Racing Events● Active	1015.867.043
IMUCO● Active	0416.715.562

Full financial information

Source · NBB

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Full 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	30/09/2025	10/10/2024	30/08/2023	31/08/2022	16/05/2022	30/11/2020
General meeting	30/06/2025	30/06/2024	23/05/2023	30/06/2022	05/06/2021	05/06/2020
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	30/06/2025	30/09/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	10/10/2024	Dutch	PDF
Abridged model	31/12/2022	23/05/2023	30/08/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	05/06/2021	16/05/2022	Dutch	PDF
Full model	31/12/2019	05/06/2020	30/11/2020	Dutch	PDF
Full model	31/12/2018	05/06/2019	31/10/2019	Dutch	PDF
Full model	31/12/2017	05/06/2018	21/09/2018	Dutch	PDF
Full model	31/12/2016	06/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	05/06/2014	16/06/2014	Dutch	PDF
Abridged model	31/12/2012	05/06/2013	10/07/2013	Dutch	PDF
Abridged model	31/12/2011	05/06/2012	14/08/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	26/09/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	09/07/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	15/06/2009	Dutch	PDF
Abridged model	31/12/2007	05/06/2008	17/06/2008	Dutch	PDF
Abridged model	31/12/2006	05/06/2007	22/06/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
IMUCO0416.715.562Represented by Ingrid VERMEIREN	Director01/08/2007 → 11/05/2029
MARC ANDRIES	Director05/06/2019 → 11/05/2029Managing director05/06/2007 → 2021 accountsended

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ingrid VERMEIREN	Director05/06/2007 → 2012 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Registered office26/04/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates27/07/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2019
ONTSLAGEN - BENOEMINGEN
PDF
Other13/02/2017
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares31/01/2014
KAPITAAL - AANDELEN
PDF
Mandates19/12/2013
ONTSLAGEN - BENOEMINGEN
PDF
Other23/02/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office20/03/2009
| Zetelverplaatsing bij beslissing raad van bestuur
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

Incorporation

Name

Registered office

Annual accounts

Filings19 filings

Mandates

IMUCO

MARC ANDRIES

Ingrid VERMEIREN

MARIA DEKKERS

1987198819891990199119921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

CODAN

Kleuterstraat 33, 2860 Sint-Katelijne-WaverMechelsesteenweg 208, 2860 Sint-Katelijne-Waver

Director

DirectorManaging director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Kleuterstraat 33, 2860 Sint-Katelijne-WaverCurrent	accounts 2023 → 2024	Accounts 2024 · 2025-00515363
Mechelsesteenweg 208, 2860 Sint-Katelijne-Waver	accounts 2020 → 2022	Accounts 2022 · 2023-00378631

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
CODANCurrent	accounts 2020 → 2024	Accounts 2024 · 2025-00515363

Events

2024
Annual accounts 20241,5 M €↑
2023
Annual accounts 2023289,2 k €↓
2022
Annual accounts 2022773,5 k €↑
2021
Annual accounts 2021670,8 k €↑
2020
Annual accounts 2020218,1 k €↓
2019
Annual accounts 2019281,3 k €↓
2018
Annual accounts 2018852,9 k €↑
2017
Annual accounts 2017333,4 k €↑
2016
Annual accounts 2016100,7 k €↓
2015
Annual accounts 2015213,8 k €↑
2014
Annual accounts 2014117,1 k €↓
2013
Annual accounts 2013236,1 k €↑
2012
Annual accounts 2012130,3 k €↓
2011
Annual accounts 2011311,6 k €↑
2010
Annual accounts 2010-155,3 k €↓
2009
Annual accounts 2009408,7 k €↑
2008
Annual accounts 2008402,1 k €↑
2007
Annual accounts 2007-20,3 k €↓
2006
Annual accounts 2006-2,5 k €
07/01/1987
IncorporationPublic limited company

CODAN

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