ACTIVE

CODEC

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Financial year 2025 · closed on 31/12/2025

Net result

46,0 k €

-42.2% YoY

Gross margin

256,6 k €

-7.5% YoY

Equity

213,5 k €

+27.4% YoY

What does CODEC do?

CODEC is a Private limited company incorporated in 2004. Its registered office is in Charleroi.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0863.164.693

Incorporation

03/02/2004

Legal form

Private limited company

Registered office

Rue de la Petite Chenevière 233
6001 Charleroi · WallonieSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2009		2008		2007		2006
Income statement
Gross margin	256,6 k €	-7.5%	277,4 k €	+48.6%	186,7 k €	+19.8%	155,8 k €	+15.9%	134,4 k €	-8.9%	147,5 k €	-15.9%	175,4 k €	+54.0%	113,8 k €	+26.5%	90,0 k €	-20.9%	113,7 k €	-26.1%	154,0 k €	-1.7%	156,6 k €	+22.5%	127,9 k €	-37.6%	204,9 k €	+53.2%	133,8 k €	+5.9%	126,3 k €	+16.9%	108,1 k €	-32.1%	159,1 k €	+94.5%	81,8 k €
EBITDA	84,2 k €	-35.8%	131,1 k €	+128%	57,4 k €	+25.7%	45,7 k €	+142%	18,9 k €	+22.8%	15,3 k €	-40.8%	25,9 k €	+123%	11,6 k €	-12.5%	13,3 k €	+295%	-6,8 k €	-173%	9,3 k €	-34.9%	14,3 k €	+185%	5,0 k €	-92.6%	67,7 k €	+132%	29,1 k €	+133%	12,5 k €	-37.9%	20,2 k €	-24.1%	26,6 k €	+222%	8,3 k €
Operating result	75,1 k €	-36.9%	119,0 k €	+517%	19,3 k €	-51.0%	39,3 k €	+167%	14,7 k €	+97.1%	7,5 k €	-63.8%	20,7 k €	+224%	6,4 k €	-19.1%	7,9 k €	+153%	-15,0 k €	-385%	5,3 k €	-54.6%	11,6 k €	+654%	-2,1 k €	-104%	56,0 k €	+192%	19,2 k €	+527%	-4,5 k €	-127%	16,5 k €	-14.7%	19,4 k €	+724%	2,4 k €
Net result	46,0 k €	-42.2%	79,5 k €	+1800%	4,2 k €	-82.2%	23,5 k €	+251%	6,7 k €	+306%	1,6 k €	-55.0%	3,7 k €	+121%	1,7 k €	-53.4%	3,6 k €	+158%	-6,1 k €	-452%	1,7 k €	-70.2%	5,8 k €	+187%	-6,8 k €	+22.7%	-8,7 k €	-319%	4,0 k €	+221%	1,2 k €	-91.4%	14,4 k €	-1.2%	14,6 k €	+1022%	1,3 k €
Balance sheet
Equity	213,5 k €	+27.4%	167,6 k €	+90.2%	88,1 k €	+5.0%	83,9 k €	+38.8%	60,5 k €	+12.4%	53,8 k €	+3.2%	52,1 k €	+7.6%	48,5 k €	+3.5%	46,8 k €	+8.2%	43,3 k €	-12.4%	49,4 k €	+3.7%	47,6 k €	+14.0%	41,8 k €	-13.9%	48,5 k €	-15.3%	57,3 k €	+10.1%	52,0 k €	+2.4%	50,8 k €	+39.6%	36,4 k €	+74.9%	20,8 k €
Total assets	289,7 k €	+27.4%	227,4 k €	+19.9%	189,6 k €	-6.5%	202,9 k €	+14.2%	177,8 k €	+19.2%	149,1 k €	-5.8%	158,4 k €	-11.1%	178,2 k €	+26.0%	141,5 k €	-3.0%	145,9 k €	+11.9%	130,3 k €	+29.6%	100,5 k €	-20.8%	127,0 k €	-31.3%	184,8 k €	-25.5%	248,1 k €	+41.1%	175,8 k €	-25.2%	235,0 k €	+20.3%	195,3 k €	+13.6%	171,9 k €
Cash	184,1 k €	+124%	82,0 k €	+125%	36,5 k €	-10.2%	40,6 k €	+19.6%	34,0 k €	+218%	10,7 k €	+32.1%	8,1 k €	-72.7%	29,6 k €	+903%	3,0 k €	+33.3%	2,2 k €	-3.8%	2,3 k €	-89.5%	21,9 k €	+679%	2,8 k €	-73.1%	10,4 k €	-72.4%	37,8 k €	+1480%	2,4 k €	-90.8%	26,0 k €	-25.9%	35,1 k €	+9.2%	32,1 k €
Debts	76,1 k €	+27.3%	59,8 k €	-41.1%	101,5 k €	-14.7%	119,0 k €	+1.5%	117,3 k €	+23.0%	95,3 k €	-10.3%	106,3 k €	-18.1%	129,8 k €	+37.0%	94,7 k €	-7.7%	102,6 k €	+26.8%	80,9 k €	+53.0%	52,9 k €	-37.9%	85,2 k €	-37.5%	136,3 k €	+58.9%	85,8 k €	-30.7%	123,8 k €	-32.8%	184,2 k €	+15.9%	158,9 k €	+5.2%	151,0 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		5,0 ETP	-16.7%	6,0 ETP	-13.0%	6,9 ETP	+19.0%	5,8 ETP	+16.0%	5,0 ETP	-100.0%	109 989,0 ETP	+34.5%	81 789,0 ETP	+2152242%	3,8 ETP	0.0%	3,8 ETP

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 · 1 active · 3 ended

Active mandates

Serge DE CONINCK

Manager

Active

Ended mandates

Serge DE CONINCK

Manager · since 28 janvier 2004

Ended

Nicolas De Coninck

Associate

Ended

SERGE DE CONNINCK

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	31/08/2026	31/08/2025	06/02/2024	31/08/2023	29/08/2022	31/08/2021
General meeting	19/06/2026	20/06/2025	06/02/2024	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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	19/06/2026	31/08/2026	French	PDF
Micro model	31/12/2024	20/06/2025	31/08/2025	French	PDF
Micro model	31/12/2023	06/02/2024	06/02/2024	French	PDF
Micro model	31/12/2022	16/06/2023	31/08/2023	French	PDF
Micro model	31/12/2021	17/06/2022	29/08/2022	French	PDF
Micro model	31/12/2020	18/06/2021	31/08/2021	French	PDF
Micro model	31/12/2019	19/06/2020	31/08/2020	French	PDF
Micro model	31/12/2018	21/06/2019	30/08/2019	French	PDF
Micro model	31/12/2017	15/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	17/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	17/06/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	19/06/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	20/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	21/06/2013	30/12/2013	French	PDF
Abridged model	31/12/2011	20/06/2012	08/03/2013	French	PDF
Abridged model	31/12/2009	18/06/2010	27/07/2010	French	PDF
Abridged model	31/12/2008	15/06/2009	21/08/2009	French	PDF
Abridged model	31/12/2007	16/06/2008	20/08/2008	French	PDF
Abridged modelCorrection	31/12/2006	15/06/2007	26/09/2007	French	PDF
Abridged model	31/12/2006	15/06/2007	25/07/2007	French	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 · 1 active · 3 ended

Active mandates

Serge DE CONINCK

Manager

Active

Ended mandates

Serge DE CONINCK

Manager · since 28 janvier 2004

Ended

Nicolas De Coninck

Associate

Ended

SERGE DE CONNINCK

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

2025
Annual accounts 202546,0 k €↓
2024
Annual accounts 202479,5 k €↑
2023
Annual accounts 20234,2 k €↓
2022
Annual accounts 202223,5 k €↑
2021
Annual accounts 20216,7 k €↑
2020
Annual accounts 20201,6 k €↓
2019
Annual accounts 20193,7 k €↑
2018
Annual accounts 20181,7 k €↓
2017
Annual accounts 20173,6 k €↑
2016
Annual accounts 2016-6,1 k €↓
2015
Annual accounts 20151,7 k €↓
2014
Annual accounts 20145,8 k €↑
2013
Annual accounts 2013-6,8 k €↑
2012
Annual accounts 2012-8,7 k €↓
2011
Annual accounts 20114,0 k €↑
2009
Annual accounts 20091,2 k €↓
2008
Annual accounts 200814,4 k €↓
2007
Annual accounts 200714,6 k €↑
2006
Annual accounts 20061,3 k €
03/02/2004
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

CODEC

Overview

What does CODEC do?

Trend over 19 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

Similar companies

Similar companies

Timeline