ACTIVE

CODEURS

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Financial year 2025 · closed on 31/12/2025
Net result
27,4 k €
-30.8% YoY
Gross margin
200,7 k €
-13.9% YoY
Equity
125,4 k €
-23.8% YoY

What does CODEURS do?

CODEURS is a Private limited company incorporated in 2014. Its main activity is: Computer programming activities. Its registered office is in Zemst.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0552.544.959
Incorporation
08/05/2014
Legal form
Private limited company
Registered office
Muizenstraat 172
1981 Zemst · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Activities (NACE)
62010Computer programming activities· main62100Computer programming, consultancy and related activities62030Computer facilities management activities62090Other information technology and computer service activities62200Computer programming, consultancy and related activities62900Computer programming, consultancy and related activities+2
Contacts
3 public details availableLog in to view
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 10 financial years

2025202420232022202120202019201820172016
Income statement
Gross margin200,7 k €233,0 k €185,0 k €132,4 k €164,1 k €168,6 k €164,6 k €109,5 k €154,4 k €30,6 k €
EBITDA52,1 k €69,1 k €20,0 k €-16,5 k €56,7 k €45,7 k €32,2 k €12,8 k €79,2 k €14,4 k €
Operating result47,2 k €63,6 k €14,6 k €-21,6 k €52,1 k €42,0 k €28,0 k €6,7 k €74,6 k €8,8 k €
Net result27,4 k €39,6 k €5,1 k €-25,8 k €32,7 k €25,9 k €15,8 k €1,9 k €48,8 k €4,2 k €
Balance sheet
Equity125,4 k €164,4 k €124,8 k €119,7 k €145,5 k €132,3 k €106,3 k €90,6 k €88,7 k €39,9 k €
Total assets233,0 k €247,5 k €192,5 k €172,5 k €180,5 k €184,0 k €139,1 k €118,8 k €144,9 k €64,0 k €
Cash29,8 k €57,4 k €56,9 k €43,9 k €24,1 k €46,8 k €32,1 k €44,5 k €8,6 k €7,2 k €
Debts107,0 k €83,1 k €66,9 k €52,6 k €34,2 k €51,1 k €31,9 k €27,4 k €55,5 k €24,2 k €
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 31/12/2024 · 3 active · 6 ended

Active mandates

Ben Merckx

Andere functie

Active
Brecht Cloetens

Andere functie

Active
David Merckx

Director

Active

Ended mandates

BEN MERCKX

Director

Ended
BEN MERCKX

Manager

Ended
BRECHT CLOETENS

Director

Ended
BRECHT CLOETENS

Manager

Ended
At this address

Other companies at this address

CompanyCBE no.
ATELIER M● Active
0697.673.389
Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date09/07/202617/07/202531/07/202402/06/202314/06/202224/06/2021
General meeting04/05/202626/05/202517/06/202402/05/202302/05/202203/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

10 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/12/202504/05/202609/07/2026DutchPDF
Micro model31/12/202426/05/202517/07/2025DutchPDF
Micro model31/12/202317/06/202431/07/2024DutchPDF
Micro model31/12/202202/05/202302/06/2023DutchPDF
Micro model31/12/202102/05/202214/06/2022DutchPDF
Micro model31/12/202003/05/202124/06/2021DutchPDF
Micro model31/12/201904/05/202015/06/2020DutchPDF
Micro model31/12/201806/05/201918/06/2019DutchPDF
Micro model31/12/201707/05/201806/06/2018DutchPDF
Micro model31/12/201602/05/201714/08/2017DutchPDF
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 31/12/2024 · 3 active · 6 ended

Active mandates

Ben Merckx

Andere functie

Active
Brecht Cloetens

Andere functie

Active
David Merckx

Director

Active

Ended mandates

BEN MERCKX

Director

Ended
BEN MERCKX

Manager

Ended
BRECHT CLOETENS

Director

Ended
BRECHT CLOETENS

Manager

Ended
Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 202527,4 k €↓
  2. 2024
    Annual accounts 202439,6 k €↑
  3. 2023
    Annual accounts 20235,1 k €↑
  4. 2022
    Annual accounts 2022-25,8 k €↓
  5. 2021
    Annual accounts 202132,7 k €↑
  6. 2020
    Annual accounts 202025,9 k €↑
  7. 2019
    Annual accounts 201915,8 k €↑
  8. 2018
    Annual accounts 20181,9 k €↓
  9. 2017
    Annual accounts 201748,8 k €↑
  10. 2016
    Annual accounts 20164,2 k €
  11. 08/05/2014
    IncorporationPrivate limited company