ACTIVE

CODEX AG

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

13 k €

+475.7% YoY

Gross margin

67 k €

+36.0% YoY

Equity

1,3 M €

+1.0% YoY

What does CODEX AG do?

CODEX AG is a Private limited company incorporated in 2009. Its main activity is: Support activities for crop production. Its registered office is in Landen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0809.540.422

Incorporation

29/01/2009

Legal form

Private limited company

Registered office

Wangestraat 8
3400 Landen · FlandreSee on map

Contributed capital

1 194 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

01610Support activities for crop production· main 01610Support activities for crop production 01110Growing of cereals (except rice), leguminous crops and oil seeds 01110Growing of cereals (except rice), leguminous crops and oil seeds

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 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	67 k €	+36.0%	49,3 k €	+4.2%	47,3 k €	-25.2%	63,2 k €	+32.8%	47,6 k €	-18.4%	58,3 k €	+11.8%	52,2 k €	-5.4%	55,1 k €	+3.3%	53,4 k €	+23.1%	43,4 k €	-18.1%	53 k €	+24.0%	42,7 k €	-15.3%	50,4 k €	+13.4%	44,5 k €	+17.0%	38 k €	-0.4%	38,2 k €	+118%	17,5 k €
EBITDA	60,6 k €	+38.2%	43,8 k €	+5.4%	41,6 k €	-28.5%	58,2 k €	+37.3%	42,4 k €	-21.4%	53,9 k €	+11.0%	48,6 k €	-5.2%	51,3 k €	+3.5%	49,5 k €	+25.5%	39,4 k €	-18.7%	48,5 k €	+22.3%	39,7 k €	-16.4%	47,5 k €	+13.1%	41,9 k €	+18.5%	35,4 k €	-0.2%	35,5 k €	+177%	12,8 k €
Operating result	20,5 k €	+551%	3,1 k €	+668%	-554 €	-104%	14,8 k €	+354%	-5,8 k €	-155%	10,6 k €	+104%	5,2 k €	+70.9%	3,1 k €	-88.1%	25,6 k €	+17.8%	21,7 k €	-20.7%	27,4 k €	-23.6%	35,9 k €	+323%	8,5 k €	+33.6%	6,3 k €	+396%	1,3 k €	-48.3%	2,5 k €	+113%	-19,4 k €
Net result	13 k €	+476%	2,3 k €	+308%	-1,1 k €	-110%	11 k €	+262%	-6,8 k €	-189%	7,7 k €	+123%	3,5 k €	+397%	694,4 €	-97.0%	23,2 k €	+28.8%	18 k €	-25.1%	24 k €	-22.9%	31,2 k €	+1422%	2 k €	+619%	-395 €	+93.3%	-5,9 k €	+9.2%	-6,5 k €	+67.9%	-20,2 k €
Balance sheet
Equity	1,3 M €	+1.0%	1,3 M €	+0.2%	1,3 M €	-0.1%	1,3 M €	+0.9%	1,3 M €	-0.5%	1,3 M €	+0.6%	1,3 M €	+0.3%	1,3 M €	+0.1%	1,3 M €	+1.9%	1,2 M €	+1.5%	1,2 M €	+2.0%	1,2 M €	+2.7%	1,2 M €	+0.2%	1,2 M €	-0.0%	1,2 M €	-0.5%	1,2 M €	-0.6%	1,2 M €
Total assets	1,3 M €	+2.2%	1,3 M €	+0.0%	1,3 M €	-1.4%	1,3 M €	+1.7%	1,3 M €	-2.0%	1,3 M €	+0.3%	1,3 M €	-0.6%	1,3 M €	-1.8%	1,3 M €	+0.5%	1,3 M €	-2.0%	1,4 M €	+5.4%	1,3 M €	+0.3%	1,3 M €	-2.4%	1,3 M €	+1.9%	1,3 M €	-2.3%	1,3 M €	-0.0%	1,3 M €
Cash	203,2 k €	+37.0%	148,3 k €	+53.4%	96,7 k €	+4.1%	92,8 k €	+43.3%	64,8 k €	-15.3%	76,5 k €	+44.1%	53,1 k €	+11.7%	47,5 k €	+252%	13,5 k €	+303%	3,4 k €	-79.5%	16,3 k €	+82.6%	9 k €	+20721%	43 €	-99.8%	22,6 k €	+62.6%	13,9 k €	+986%	1,3 k €	-62.5%	3,4 k €
Debts	34,8 k €	+78.8%	19,5 k €	-10.0%	21,6 k €	-43.6%	38,3 k €	+42.7%	26,8 k €	-41.3%	45,7 k €	-8.2%	49,8 k €	-14.4%	58,2 k €	-32.4%	86,1 k €	-15.7%	102,2 k €	-30.5%	146,9 k €	+44.9%	101,4 k €	-21.3%	128,8 k €	-20.9%	162,8 k €	+18.5%	137,3 k €	-15.8%	163,2 k €	+3.7%	157,3 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

Arthur CORTHAUTS

Director

Active

Rudi Corthauts

Director

Active

Ended mandates

Arthur Corthauts

Director · since 29 janvier 2009

Ended

Arthur CORTHAUTS

Manager

Ended

Rudi Corthauts

Associate

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	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	23/07/2026	31/07/2025	05/08/2024	21/08/2023	12/08/2022	05/08/2021
General meeting	29/06/2026	30/06/2025	23/06/2024	26/06/2023	27/06/2022	28/06/2021
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	29/06/2026	23/07/2026	Dutch	PDF
Micro model	31/12/2024	30/06/2025	31/07/2025	Dutch	PDF
Micro model	31/12/2023	23/06/2024	05/08/2024	Dutch	PDF
Micro model	31/12/2022	26/06/2023	21/08/2023	Dutch	PDF
Micro model	31/12/2021	27/06/2022	12/08/2022	Dutch	PDF
Abridged model	31/12/2020	28/06/2021	05/08/2021	Dutch	PDF
Abridged model	31/12/2019	29/06/2020	19/08/2020	Dutch	PDF
Abridged model	31/12/2018	24/06/2019	21/08/2019	Dutch	PDF
Abridged model	31/12/2017	25/06/2018	28/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/06/2017	29/06/2017	Dutch	PDF
Abridged model	31/12/2015	27/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	29/06/2015	02/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	21/08/2014	Dutch	PDF
Abridged model	31/12/2012	24/06/2013	21/08/2013	Dutch	PDF
Abridged model	31/12/2011	25/06/2012	12/07/2012	Dutch	PDF
Abridged model	31/12/2010	27/06/2011	30/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/06/2010	31/08/2010	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 3 ended

Active mandates

Arthur CORTHAUTS

Director

Active

Rudi Corthauts

Director

Active

Ended mandates

Arthur Corthauts

Director · since 29 janvier 2009

Ended

Arthur CORTHAUTS

Manager

Ended

Rudi Corthauts

Associate

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other10/02/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates19/07/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Other16/02/2009
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 202513 k €↑
2024
Annual accounts 20242,3 k €↑
2024
Name changeCodex
2023
Annual accounts 2023-1,1 k €↓
2022
Annual accounts 202211 k €↑
2021
Annual accounts 2021-6,8 k €↓
2021
Name changeCodex AG BV
2020
Annual accounts 20207,7 k €↑
2019
Annual accounts 20193,5 k €↑
2018
Annual accounts 2018694,4 €↓
2017
Annual accounts 201723,2 k €↑
2016
Annual accounts 201618 k €↓
2015
Annual accounts 201524 k €↓
2014
Annual accounts 201431,2 k €↑
2013
Annual accounts 20132 k €↑
2012
Annual accounts 2012-395 €↑
2011
Annual accounts 2011-5,9 k €↑
2010
Annual accounts 2010-6,5 k €↑
2009
Annual accounts 2009-20,2 k €
29/01/2009
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

CODEX AG

Overview

What does CODEX AG do?

Trend over 17 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