ACTIVE

i-CoDe

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

20,8 k €

-24.8% YoY

Gross margin

43,4 k €

-15.2% YoY

Equity

103,4 k €

+15.8% YoY

What does i-CoDe do?

i-CoDe is a Private limited company incorporated in 2002. Its main activity is: Computer programming activities. Its registered office is in Aalst.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0478.985.604

Incorporation

17/12/2002

Legal form

Private limited company

Registered office

Ijsbroekstraat 22
9308 Aalst · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities 47400Retail sale of information and communication equipment in specialised stores 47410Retail sale of computers, peripheral units and software in specialised stores 52487Warehousing and support activities for transportation+6

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ 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	43,4 k €	-15.2%	51,2 k €	+126%	22,7 k €	-45.9%	41,9 k €	+95.9%	21,4 k €	-19.0%	26,4 k €	-18.9%	32,6 k €	-1.7%	33,1 k €	+20.6%	27,5 k €	-53.3%	58,9 k €	+74.6%	33,7 k €	-23.5%	44,0 k €	-0.3%	44,1 k €	-6.6%	47,3 k €	+16.3%	40,7 k €	-50.2%	81,6 k €	-39.3%	134,6 k €	+47.7%	91,1 k €	+717%	-14,8 k €	-65.8%	-8,9 k €
EBITDA	42,1 k €	-16.3%	50,3 k €	+134%	21,5 k €	-47.5%	40,9 k €	+102%	20,2 k €	-18.0%	24,7 k €	-21.6%	31,5 k €	-1.3%	31,9 k €	+25.2%	25,5 k €	-45.3%	46,6 k €	+43.6%	32,4 k €	-24.1%	42,7 k €	-0.3%	42,8 k €	-6.4%	45,8 k €	+17.4%	39,0 k €	+81.0%	21,5 k €	-9.3%	23,8 k €	-46.3%	44,2 k €	+399%	-14,8 k €	-56.0%	-9,5 k €
Operating result	30,6 k €	-22.0%	39,2 k €	+258%	11,0 k €	-67.5%	33,7 k €	+1111%	2,8 k €	-68.4%	8,8 k €	-38.2%	14,3 k €	-34.1%	21,6 k €	+41.4%	15,3 k €	-52.6%	32,3 k €	+74.5%	18,5 k €	-23.0%	24,0 k €	-14.6%	28,1 k €	-12.2%	32,0 k €	+0.6%	31,8 k €	+237%	9,4 k €	-24.5%	12,5 k €	-60.4%	31,6 k €	+314%	-14,8 k €	-6.4%	-13,9 k €
Net result	20,8 k €	-24.8%	27,7 k €	+241%	8,1 k €	-65.5%	23,5 k €	+1670%	1,3 k €	-80.2%	6,7 k €	-36.6%	10,6 k €	-23.8%	13,9 k €	+50.6%	9,2 k €	-51.0%	18,8 k €	+86.5%	10,1 k €	-39.1%	16,6 k €	-16.3%	19,8 k €	-9.4%	21,8 k €	-13.4%	25,2 k €	+224%	7,8 k €	+15.6%	6,7 k €	-77.4%	29,8 k €	+294%	-15,4 k €	-1.9%	-15,1 k €
Balance sheet
Equity	103,4 k €	+15.8%	89,3 k €	+23.9%	72,0 k €	-7.3%	77,7 k €	-15.7%	92,2 k €	-30.3%	132,4 k €	+5.3%	125,7 k €	+2.1%	123,1 k €	+12.7%	109,2 k €	-22.1%	140,2 k €	+15.5%	121,4 k €	+9.1%	111,3 k €	+8.7%	102,4 k €	+17.6%	87,1 k €	+33.5%	65,2 k €	+62.9%	40,0 k €	+24.1%	32,2 k €	+26.4%	25,5 k €	+693%	-4,3 k €	-139%	11,1 k €
Total assets	127,0 k €	+12.3%	113,0 k €	-3.0%	116,6 k €	-15.8%	138,4 k €	-11.1%	155,6 k €	-3.1%	160,6 k €	+2.4%	156,8 k €	-1.9%	159,7 k €	-12.2%	182,0 k €	+14.2%	159,3 k €	+19.9%	132,9 k €	+6.1%	125,2 k €	+9.5%	114,3 k €	+10.0%	104,0 k €	+24.3%	83,7 k €	+8.3%	77,3 k €	-17.7%	93,9 k €	+8.4%	86,6 k €	+15557%	553,3 €	-98.0%	28,4 k €
Cash	66,6 k €	+18.3%	56,3 k €	+47.4%	38,2 k €	-59.6%	94,6 k €	+7.6%	87,9 k €	+16.9%	75,2 k €	+0.5%	74,8 k €	-12.7%	85,8 k €	-22.6%	110,8 k €	+34.8%	82,2 k €	+55.5%	52,9 k €	-2.2%	54,0 k €	-22.3%	69,6 k €	+41.0%	49,3 k €	+1.2%	48,7 k €	+15.4%	42,2 k €	+2.2%	41,3 k €	+136%	17,5 k €	+7492%	230,2 €	-93.6%	3,6 k €
Debts	23,6 k €	-0.8%	23,8 k €	-46.6%	44,5 k €	-26.6%	60,7 k €	-4.3%	63,4 k €	+125%	28,2 k €	-9.3%	31,1 k €	-15.2%	36,6 k €	-49.7%	72,8 k €	+357%	15,9 k €	+39.0%	11,5 k €	-15.1%	13,5 k €	+16.8%	11,6 k €	-31.6%	16,9 k €	-6.2%	18,0 k €	-51.6%	37,2 k €	-39.6%	61,6 k €	+2.0%	60,4 k €	+1144%	4,9 k €	-71.9%	17,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		1,2 ETP	-40.0%	2,0 ETP	0.0%	2,0 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

JAAK BARTELS

Director

Active

Ended mandates

JAAK BARTELS

Director · since 29 novembre 2002

Ended

CHARLES BARTELS JAAK

Director

Ended

Inge VAN DEN BERGH

Manager · until 17 juin 2008

Ended

Inge VAN DEN BERGH

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	17/07/2026	18/07/2025	18/07/2024	11/07/2023	29/07/2022	16/07/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	19/06/2026	17/07/2026	Dutch	PDF
Micro model	31/12/2024	20/06/2025	18/07/2025	Dutch	PDF
Micro model	31/12/2023	21/06/2024	18/07/2024	Dutch	PDF
Micro model	31/12/2022	16/06/2023	11/07/2023	Dutch	PDF
Micro modelCorrection	31/12/2021	17/06/2022	29/07/2022	Dutch	PDF
Micro model	31/12/2021	17/06/2022	13/07/2022	Dutch	PDF
Micro model	31/12/2020	18/06/2021	16/07/2021	Dutch	PDF
Micro model	31/12/2019	19/06/2020	16/07/2020	Dutch	PDF
Micro model	31/12/2018	30/06/2019	31/07/2019	Dutch	PDF
Micro model	31/12/2017	15/06/2018	16/07/2018	Dutch	PDF
Micro model	31/12/2016	16/06/2017	14/07/2017	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	15/07/2016	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	17/07/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	16/07/2014	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	17/07/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	15/07/2011	Dutch	PDF
Abridged model	31/12/2009	18/06/2010	16/07/2010	Dutch	PDF
Abridged model	31/12/2008	03/03/2009	18/03/2009	Dutch	PDF
Abridged model	31/12/2007	20/06/2008	17/07/2008	Dutch	PDF
Abridged model	31/12/2006	15/06/2007	17/07/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 1 active · 5 ended

Active mandates

JAAK BARTELS

Director

Active

Ended mandates

JAAK BARTELS

Director · since 29 novembre 2002

Ended

CHARLES BARTELS JAAK

Director

Ended

Inge VAN DEN BERGH

Manager · until 17 juin 2008

Ended

Inge VAN DEN BERGH

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/10/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares20/02/2018
KAPITAAL - AANDELEN
PDF
Capital / shares27/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates01/07/2008
BENAMING - MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Registered office19/11/2004
MAATSCHAPPELIJKE ZETEL
PDF
Other24/12/2002
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202520,8 k €↓
2024
Annual accounts 202427,7 k €↑
2023
Annual accounts 20238,1 k €↓
2022
Annual accounts 202223,5 k €↑
2021
Annual accounts 20211,3 k €↓
2020
Annual accounts 20206,7 k €↓
2019
Annual accounts 201910,6 k €↓
2018
Annual accounts 201813,9 k €↑
2017
Annual accounts 20179,2 k €↓
2016
Annual accounts 201618,8 k €↑
2015
Annual accounts 201510,1 k €↓
2014
Annual accounts 201416,6 k €↓
2013
Annual accounts 201319,8 k €↓
2012
Annual accounts 201221,8 k €↓
2011
Annual accounts 201125,2 k €↑
2010
Annual accounts 20107,8 k €↑
2009
Annual accounts 20096,7 k €↓
2008
Annual accounts 200829,8 k €↑
2007
Annual accounts 2007-15,4 k €↓
2006
Annual accounts 2006-15,1 k €
17/12/2002
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

i-CoDe

Overview

What does i-CoDe 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