Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Figures corrected NBB
Corrected annual account filed for 2022.
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Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
CODEL from Liège, company number BE0860787106, closed financial year 2025 with a result of € 383,660 after tax. For that financial year CODEL recorded revenue of € 26.8 million and equity of € 2.3 million. Compared with financial year 2024, the result moved from € -1.3 million to € 383,660. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 8, 2026.
€ 2.3 million
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 383,660
▲ still € 1.3 million loss in 2024
Profit after tax over the fiscal year.
€ 880,254
▲ 176% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -753,608.
People and assets in 2025
2
Average over the fiscal year, from the social balance sheet.
€ 151,913
▲ 10% vs 2024
€ 76,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 6.7 million
▼ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 98 days on average.
€ 168,705
▲ € 143,591 vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 17,687,113 | € 16,518,326 | € 28,558,716 | € 26,802,743 | ▼ 6% |
| Profit after taxes | € 522,620 | € -637,623 | € -1,264,211 | € 383,660 | ▲ € 1.6 million |
| Equity | € 789,566 | € 151,943 | € 1,887,732 | € 2,271,392 | ▲ 20% |
| Total debts | € 8,950,487 | € 10,418,728 | € 9,415,331 | € 8,294,566 | ▼ 12% |
| Cash | € 1,426,889 | € 650,475 | € 318,533 | € 880,254 | ▲ 176% |
| Retained profit | € 764,566 | € 126,943 | € -1,137,268 | € -753,608 | ▲ € 383,660 |
| Dividend | € 480,000 | € 0 | € 0 | € 0 | |
| Bank debt | € 0 | € 3,092,821 | € 500,000 | € 0 | ▼ 100% |
| Balance sheet total | € 9,740,052 | € 10,570,671 | € 11,303,063 | € 10,565,958 | ▼ 7% |
| Employees (FTE) | - | 1 | 2 | 2 |
Key figures of CODEL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to CODEL?
What happened at CODEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Coretec Energy stepped down as director. NBB
- Consulfin S.R.L. stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 383,660. Source: NBB ↗
- Coretec Energy became a director. NBB
- Consulfin S.R.L. became a director. NBB
- New establishment in Seraing. KBO
- Start of the company according to the CBE. KBO
In short
From € 522,620 profit in 2022 to € 383,660 profit in 2025.
Paid € 191,712 in corporate taxes since 2022.
Best year ever: 2022, with € 522,620 profit.
Paid out € 480,000 in dividends to the owners in total.
A new publication or filing at CODEL? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of CORETEC ENERGY comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
CODELThe shares are held by CORETEC ENERGY (100%).
Directors
According to the 2025 annual accounts
Director · represented by Sébastien UGONA
Also active at: Coretec Energy Management, CORETEC Services, CORETEC MONITORING, CORETEC PROJECTS, CORETEC INVOICING
since 2025 · until 2031
Director · represented by Denis QUETIN
Also active at: CORETEC ENERGY, CORETEC Services, COGEN SERVICE, COGENFIN, CORETEC MONITORING, CORETEC PROJECTS, ENERGYS MAINTENANCE, REFRECO +2 more
since 2025 · until 2031
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Bld Emile-de-Laveleye 191
4020 Liège
Rue du Bois St-Jean 29
4102 Seraing
Active since 30 September 2003
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →DYNA
€ 29,213 gross margin · 2025
MEDIM
€ -19,420 gross margin · 2025
CASINO DE CHAUDFONTAINE
€ -6,804 gross margin · 2025
Thémis
TALENTEO
+17 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0860.787.106
- VAT number
- BE 0860.787.106
- Registered office
- Bld Emile-de-Laveleye 191, 4020 Liège
- Names & denominations
- CODEL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 September 2003
- Peppol
- Active · Active since 18 Jun 2025
- Activities · NACE
Handel in elektriciteit
Groothandel in vaste, vloeibare en gasvormige brandstoffen en aanverwante producten