4 IMMO
ActiveSummary
4 IMMO has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€58,496) and a net result of €9,154. Equity is shrinking by ~19.7% per year across the filed fiscal years. Its solvency ranks better than 16% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability60▲+7
Solvency20=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.43 against 0.37 in 2023; short-term debt: 11% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-4.6%
Return on assets
0.7%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 19362 sector peers (2024).
NBB · sector comparisonPosition among 19362 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
31 d late
2022
14 d late
2021
3 d late
2020
6 d late
2019
104 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 32 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€58,496▲ 13.5%
2023 · -€67,650
Total assets
€1.3m▼ 1.1%
2023 · €1.3m
Net result
€9,154
2023 · -€3,655
Working capital
-€79,677▼ 12.6%
2023 · -€70,774
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€11,627-€21,337€2,193€8,013▲ 265%€20,742▲ 159%
Net result€2,060-€30,845-€9,356▲ 69.7%-€3,655▲ 60.9%€9,154
Equity-€23,794▲ 8.0%-€54,640▼ 130%-€63,996▼ 17.1%-€67,650▼ 5.7%-€58,496▲ 13.5%
Total assets€1.0m▼ 0.8%€1.4m▲ 33.0%€1.3m▼ 3.2%€1.3m▼ 2.6%€1.3m▼ 1.1%
Debt€1.0m▼ 1.0%€1.4m▲ 35.2%€1.4m▼ 2.4%€1.4m▼ 2.2%€1.3m▼ 1.7%
Working capital-€20,812▲ 66.7%-€43,233▼ 108%-€51,789▼ 19.8%-€70,774▼ 36.7%-€79,677▼ 12.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 159% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.2m ▼ 2.6%
Current assets
€60,036 ▲ 44.1%
Key figures and ratios
EBITDA
€56,610▲
2023 · €48,803
Cash flow
€45,022▲
2023 · €37,136
Solvency
-4.6%▲
2023 · -5.3%
Current ratio
0.43▲
2023 · 0.37
Quick ratio
0.37▲
2023 · 0.29
Debt to equity
-22.72▼
2023 · -19.98
ROA
0.7%▲
2023 · -0.3%
Interest coverage
4.89▲
2023 · 4.18
Debt ≤ 1 year
€139,713▲
2023 · €112,435
Debt > 1 year
€1.2m▼
2023 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 522 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
3.6%
went bankrupt
1.7%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 522 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,621 | €39,516 | €38,911 | €40,790 | €35,868 | ▼ 12.1% |
| Other operating charges640/8 | - | €8,533 | €6,421 | €8,093 | €3,187 | ▼ 60.6% |
| Gross operating margin9900 | €57,810 | €26,713 | €47,525 | €56,896 | €59,797 | ▲ 5.1% |
| Operating profit (loss)9901 | €11,627 | -€21,337 | €2,193 | €8,013 | €20,742 | ▲ 159% |
| Financial income75/76B | - | €3 | €6 | €0 | €0 | ▲ 333% |
| Recurring financial income75 | - | €3 | €6 | €0 | €0 | ▲ 333% |
| Financial charges65/66B | - | €9,512 | €11,555 | €11,667 | €11,588 | ▼ 0.7% |
| Recurring financial charges65 | €9,567 | €9,512 | €11,555 | €11,667 | €11,588 | ▼ 0.7% |
| Profit (loss) for the period before taxes9903 | €2,060 | -€30,845 | -€9,356 | -€3,655 | €9,154 | ▲ 350% |
| Profit (loss) for the period9904 | €2,060 | -€30,845 | -€9,356 | -€3,655 | €9,154 | ▲ 350% |
| Profit (loss) for the period to be appropriated9905 | €2,060 | -€30,845 | -€9,356 | -€3,655 | €9,154 | ▲ 350% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €1.4m | €1.3m | €1.3m | €1.3m | ▼ 1.1% |
| Fixed assets21/28 | €979,118 | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 2.6% |
| Tangible fixed assets22/27 | €978,968 | €939,452 | €900,981 | €872,530 | €840,459 | ▼ 3.7% |
| Land and buildings22 | - | €939,130 | €900,876 | €862,782 | €834,809 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | €162 | €25 | €0 | - | - |
| Furniture and vehicles24 | - | €160 | €80 | €9,748 | €5,650 | ▼ 42.0% |
| Financial fixed assets28 | €150 | €369,773 | €369,773 | €369,773 | €369,773 | = |
| Current assets29/58 | €44,667 | €52,070 | €47,119 | €41,661 | €60,036 | ▲ 44.1% |
| Stocks and contracts in progress3 | €4,941 | €6,251 | €6,304 | €8,815 | €8,850 | ▲ 0.4% |
| Stocks30/36 | - | €6,251 | €6,304 | €8,815 | €8,850 | ▲ 0.4% |
| Amounts receivable within one year40/41 | €36,847 | €38,440 | €39,371 | €32,847 | €51,187 | ▲ 55.8% |
| Trade receivables40 | - | €32,699 | €34,781 | €23,344 | €38,056 | ▲ 63.0% |
| Other amounts receivable41 | - | €5,740 | €4,590 | €9,503 | €13,130 | ▲ 38.2% |
| Cash at bank and in hand54/58 | €2,880 | €7,380 | €669 | €0 | - | - |
| Deferred charges and accrued income490/1 | - | - | €774 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €1.4m | €1.3m | €1.3m | €1.3m | ▼ 1.1% |
| Equity10/15 | -€23,794 | -€54,640 | -€63,996 | -€67,650 | -€58,496 | ▲ 13.5% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Capital10 | - | €150,000 | €150,000 | - | - | - |
| Issued capital100 | - | €150,000 | €150,000 | - | - | - |
| Profit (loss) carried forward14 | -€173,794 | -€204,640 | -€213,996 | -€217,650 | -€208,496 | ▲ 4.2% |
| Amounts payable17/49 | €1.0m | €1.4m | €1.4m | €1.4m | €1.3m | ▼ 1.7% |
| Amounts payable after more than one year17 | €980,850 | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 3.9% |
| Financial debts170/4 | - | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 4.4% |
| Other amounts payable178/9 | - | €128,000 | €128,000 | €128,000 | €128,000 | = |
| Amounts payable within one year42/48 | €65,479 | €95,303 | €98,908 | €112,435 | €139,713 | ▲ 24.3% |
| Current portion of amounts payable after more than one year42 | - | €39,363 | €38,116 | €41,491 | €45,617 | ▲ 9.9% |
| Financial debts43 | - | €15,882 | €17,658 | €16,422 | €21,958 | ▲ 33.7% |
| Credit institutions430/8 | - | €15,882 | €17,658 | €16,422 | €21,958 | ▲ 33.7% |
| Trade debts44 | €10,148 | €10,219 | €14,009 | €17,388 | €24,960 | ▲ 43.5% |
| Suppliers440/4 | - | €10,219 | €14,009 | €17,388 | €24,960 | ▲ 43.5% |
| Taxes, remuneration and social security45 | - | €25 | €25 | €1,609 | €0 | ▼ 100% |
| Taxes450/3 | - | €25 | €25 | €1,609 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €29,814 | €29,100 | €35,526 | €47,178 | ▲ 32.8% |
| Accrued charges and deferred income492/3 | - | €1,315 | €1,313 | €1,312 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,060 | -€30,845 | -€9,356 | -€3,655 | €9,154 | ▲ 350% |
| + Depreciation and write-downs630 | €39,621 | €39,516 | €38,911 | €40,790 | €35,868 | ▼ 12.1% |
| Operating cash flow (approximation) | €41,681 | €8,671 | €29,555 | €37,136 | €45,022 | ▲ 21.2% |
| Investment in fixed assets (approximation) | - | -€369,623 | -€440 | -€12,340 | -€3,796 | ▲ 69.2% |
| Change in cash | - | €4,500 | -€6,711 | -€669 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Back to profitnet €9,154
Net result €9,154 after 3 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
14-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2022
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2020
31-12
Financial
Back to profitnet €2,060
Net result €2,060 after 2 loss-making years.
12-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 104 days late
2019
31-12
Financial
Weakest financial yearnet -€31,790
Net result drops to -€31,790, the lowest in the series; recovery starts the following year.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2013
Ground area
252 m²
Building footprint
249 m²
Volume, LiDAR
2,133 m³
Parcel 21005A0541/00D005, Brussels · tallest building 21.2 m. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
4 IMMO
since 20132.220.160.744
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21005A0541/00D005 | Brussels | 252 m² | 1 · 249 m² | 21.2 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,384. 1,450 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded06-06-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0534993701
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.