Equity
€72,287 from €735,811 in 2009
Equity fell by 90% in 16 years.
IMMODEM
Lifetime
20 annual accounts with figures on one time axis, 35 filings since 1991peak €286,149 (2015)
€4,719▼ 90.6%
lowest -€376,613 (2025)
-€376,613▼ €401,237
peak €735,811 (2009)
€72,287▼ 83.9%
€372,401▲ 11×
Board6 names since 2021
3 directorsDE MARIE Michel Camille and 2 others
Documentsfilings and deeds
18-06-202643 days before the deadline
2025abbreviated format
Gross margin from €50,092 to €4,719Loss of €376,613Equity from €448,900 to €72,287Debts from €33,806 to €372,401Cash from €46,262 to €18,171
Key points
from the 2025 annual accountsResult
-€376,613 -€376,613
From profit to loss in 2025, after a profit of €24,625 in 2024.
Position in the sector
-€376,613
Lower net result than 95% of companies in construction of buildings. Sector median €19,063 · 2,809 companies.
Checked score
53
Fair
Financially stronger than 21% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.2%▲ +0.1 percentage points vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.1%▼ -0.1 percentage points vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.2%▲ +0.1 percentage points vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 1.6%▲ +1.3 percentage points vs 09-2026highest value
11-2026: 1.6%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €376,613 (financial year 2025)
Sector: Construction of residential and non-residential buildings (NACE 41)
Equity €72,287 (9.4% of total assets)
lowers risk
Size: total assets €769,370
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 18% of them on solvency, 57% on liquidity, 5% on profitability and 6% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 175 companies had the same profile as IMMODEM has now. Each dot is one company, two years later.
85.1%
were still trading
8.6%
stopped another way
5.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMODEM itself: 1.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 175 companies, not a prediction for IMMODEM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 9.37 (12.26 in 2024), above the usual 1.5. Short-term debt is 9.9% and cash 2.4% of total assets. However, 90.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 2815 sector peers (2025).
NBB · sector comparisonPosition among 2815 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
7 days late
2023
13 days early
2022
on the day
2021
79 days late
2020
31 days late
2019
131 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (4 of the last 5 accounts filed within 43 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0441756608
3 directors appointed, 4 resignations, 1 reappointment
Resignations: DE MARIE Yves René Paul (managing director), DE GOEDT Martine, DE MARIE Michel Camille and M-INVEST · Appointments: DE MARIE Michel Camille, MAGICA and MILDOR · Permanent representatives: DE MARIE Chris and DE MARIE Filip · General meeting of 05-12-2023 · Gazette deed
First establishment
Bodegemstraat 15-17, Ternat
Incorporation
published on 21-11-1990 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| IMMODEM Ternat | €769,370 | €4,719 | 9.4% | - |
| SELECT CONSTRUCT Courcelles | €829,184 | €4,309 | 42.7% | - |
| T.H.D. Deerlijk | €858,683 | €4,396 | 40.9% | - |
| RAIFF CONSTRUCT Knokke-Heist | €868,539 | €4,775 | 80.6% | - |
| ROOSE - COLPAERT Diksmuide | €830,325 | €6,213 | 70.4% | 0.5 |
| M.D. Building Ghent | €554,543 | €4,956 | 50.0% | - |
| HYLJA PROJECTS Oudsbergen | €628,133 | €3,233 | 25.1% | - |
These companies have the same main activity as IMMODEM: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €555,000 and €869,000, founded between 1987 and 1996.
Official details
Source: KBO- Status
- Active since 31-10-1990Normal situation
- Activity
- General construction of residential buildingsNACE 41001
- Establishment unit
- 2.051.100.0381740 Ternat, since 17-01-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 29-12-2025
Annual accounts 2025
- ≈ €59,000estimated
- €769,370▲ 59.4%
- ≈ 0.8 FTEestimated
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on IMMODEM
IMMODEM files the abbreviated format. That format states no turnover. The gross margin rose from -€8,785 in 2006 to €4,719 in 2025.
In December 2023, three directors stepped down. In December 2023, the Official Gazette published the appointment of DE MARIE Michel Camille as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about IMMODEM
- What is the company number of IMMODEM?
- The company number of IMMODEM is 0441.756.608. The VAT number is the same number with BE in front: BE 0441.756.608.
- Where is IMMODEM based?
- The registered office is at Bodegemstraat 15-17, 1740 Ternat.Company details
- What does IMMODEM do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of IMMODEM?
- IMMODEM is a public limited company (NV).
- When was IMMODEM founded?
- IMMODEM was founded on 31-10-1990.
- Is IMMODEM still active?
- Yes, IMMODEM is an active enterprise in the KBO register.
- What is the turnover of IMMODEM?
- The turnover in financial year 2025 is ≈ €59,000. This figure is estimated from the gross margin of €4,719 and 75 comparable companies (NACE 41001). It probably lies between €28,000 and €110,000. It is a rough estimate.Financials
- Is IMMODEM profitable?
- In financial year 2025, IMMODEM made a loss of €376,613.
- Where can I find the annual accounts of IMMODEM?
- IMMODEM filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of IMMODEM due?
- IMMODEM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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