ACTIVE

CODES

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Financial year 2025 · closed on 31/03/2025

Net result

76,8 k €

+7.0% YoY

Gross margin

146,0 k €

+2.1% YoY

Equity

1,2 M €

+24.0% YoY

What does CODES do?

CODES is a Private limited company incorporated in 2014. Its registered office is in Mechelen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0546.698.730

Incorporation

19/02/2014

Legal form

Private limited company

Registered office

Borchtstraat 30 box 303
2800 Mechelen · FlandreSee on map

Contributed capital

135 000,00 €

Latest accounts

31/03/2025

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015
Income statement
Gross margin	146,0 k €	+2.1%	143,0 k €	-5.7%	151,7 k €	+23.0%	123,4 k €	-0.8%	124,4 k €	-1.6%	126,4 k €	-5.9%	134,3 k €	+15.9%	115,9 k €	-1.9%	118,1 k €	+2.5%	115,2 k €	+120%	52,3 k €
EBITDA	145,1 k €	+2.3%	141,9 k €	+15.8%	122,5 k €	-0.2%	122,7 k €	-1.1%	124,0 k €	-1.7%	126,2 k €	-5.9%	134,1 k €	+15.9%	115,6 k €	-1.6%	117,5 k €	+2.2%	114,9 k €	+123%	51,6 k €
Operating result	118,4 k €	+3.3%	114,7 k €	+20.5%	95,2 k €	-0.2%	95,4 k €	-1.4%	96,7 k €	-1.9%	98,5 k €	-6.6%	105,6 k €	+21.4%	87,0 k €	-2.1%	88,8 k €	+2.9%	86,3 k €	+665%	-15,3 k €
Net result	76,8 k €	+7.0%	71,8 k €	+37.0%	52,4 k €	-0.9%	52,9 k €	+8.2%	48,9 k €	+2.4%	47,7 k €	-2.7%	49,0 k €	+43.3%	34,2 k €	-18.3%	41,9 k €	-18.2%	51,2 k €	+185%	-60,5 k €
Balance sheet
Equity	1,2 M €	+24.0%	997,7 k €	+7.8%	925,9 k €	+6.0%	873,5 k €	+169%	324,5 k €	+17.7%	275,6 k €	+20.9%	227,9 k €	+27.4%	178,9 k €	+23.7%	144,6 k €	+15.0%	125,7 k €	+68.7%	74,5 k €
Total assets	1,6 M €	+7.8%	1,5 M €	+1.5%	1,5 M €	+0.8%	1,5 M €	+45.4%	1,0 M €	-2.5%	1,0 M €	-3.7%	1,1 M €	-3.1%	1,1 M €	-3.4%	1,2 M €	-0.2%	1,2 M €	-5.8%	1,2 M €
Cash	15,2 k €	-74.1%	58,7 k €	+105%	28,6 k €	+1014%	2,6 k €	-75.4%	10,5 k €	+1.7%	10,3 k €	+78.1%	5,8 k €	-80.8%	30,1 k €	-26.2%	40,8 k €	+192%	13,9 k €	-76.0%	58,2 k €
Debts	397,4 k €	-23.4%	518,7 k €	-8.5%	567,1 k €	-6.9%	609,0 k €	-12.3%	694,8 k €	-9.8%	770,0 k €	-10.2%	857,9 k €	-8.9%	942,2 k €	-7.2%	1,0 M €	-2.0%	1,0 M €	-10.6%	1,2 M €

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 31/03/2025 · 2 active · 8 ended

Active mandates

Lise VAN BUGGENHOUT

Administrator - manager · since 01 juin 2022

Active

Herman COLPIN

Administrator - manager · since 18 février 2014

Active

Ended mandates

Stephan DE SMET

Administrator - manager · since 12 juillet 2016 · until 06 mai 2022

Ended

Stephan DE SMET

Administrator - manager · since 12 juillet 2016

Ended

Stephan DE SMET

Manager · since 12 juillet 2016

Ended

Godelieve DE SMET

Manager · since 18 février 2014 · until 12 juillet 2016

Ended

At this address

Other companies at this address

Company	CBE no.
ACHILLES ASSOCIATES● Active	0871.895.485
Achilles Ventures● Active	0774.917.558
AEROPLANE● Active	0673.681.925
Dokter Herman Colpin● Active	0453.886.061
Foubrite● Active	1011.289.831
GIVET● Active	0631.750.508
Relife● Active	1000.175.809
Superellipse● Active	0691.752.926
TalloRes● Active	1026.905.544

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	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020	01/04/2019
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021	31/03/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/11/2025	15/10/2024	04/09/2023	12/10/2022	20/09/2021	02/10/2020
General meeting	06/09/2025	07/09/2024	02/09/2023	01/06/2022	04/09/2021	05/09/2020
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

Ratios

Financial ratios

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Filings

Annual accounts filings

11 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/03/2025	06/09/2025	27/11/2025	Dutch	PDF
Micro model	31/03/2024	07/09/2024	15/10/2024	Dutch	PDF
Micro model	31/03/2023	02/09/2023	04/09/2023	Dutch	PDF
Micro model	31/03/2022	01/06/2022	12/10/2022	Dutch	PDF
Micro model	31/03/2021	04/09/2021	20/09/2021	Dutch	PDF
Micro model	31/03/2020	05/09/2020	02/10/2020	Dutch	PDF
Micro model	31/03/2019	07/09/2019	11/10/2019	Dutch	PDF
Micro model	31/03/2018	01/09/2018	29/10/2018	Dutch	PDF
Abridged model	31/03/2017	02/09/2017	15/09/2017	Dutch	PDF
Abridged model	31/03/2016	03/09/2016	21/09/2016	Dutch	PDF
Abridged model	31/03/2015	05/09/2015	06/10/2015	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 31/03/2025 · 2 active · 8 ended

Active mandates

Lise VAN BUGGENHOUT

Administrator - manager · since 01 juin 2022

Active

Herman COLPIN

Administrator - manager · since 18 février 2014

Active

Ended mandates

Stephan DE SMET

Administrator - manager · since 12 juillet 2016 · until 06 mai 2022

Ended

Stephan DE SMET

Administrator - manager · since 12 juillet 2016

Ended

Stephan DE SMET

Manager · since 12 juillet 2016

Ended

Godelieve DE SMET

Manager · since 18 février 2014 · until 12 juillet 2016

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/11/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office02/07/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates16/08/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/03/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other21/02/2014
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 202576,8 k €↑
2024
Annual accounts 202471,8 k €↑
2023
Annual accounts 202352,4 k €↓
2022
Annual accounts 202252,9 k €↑
2021
Annual accounts 202148,9 k €↑
2020
Annual accounts 202047,7 k €↓
2019
Annual accounts 201949,0 k €↑
2018
Annual accounts 201834,2 k €↓
2017
Annual accounts 201741,9 k €↓
2016
Annual accounts 201651,2 k €↑
2015
Annual accounts 2015-60,5 k €
19/02/2014
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

CODES

Overview

What does CODES do?

Trend over 11 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