AXE - IMMO
ActiveSummary
AXE - IMMO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €473,143 and a net result of €84,688. Equity is growing by ~23.6% per year across the filed fiscal years. Its solvency ranks better than 39% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77=
Solvency61▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.37 against 0.89 in 2024; short-term debt: 19.2% and cash: 12.1% of total assets), and 63.6% of the assets are financed with debt.
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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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
36.4%
Return on assets
6.5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-04-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
13 d early
2023
4 d early
2022
11 d early
2021
17 d early
2020
10 d early
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€473,143▲ 21.8%
2024 · €388,455
Total assets
€1.3m▼ 0.2%
2024 · €1.3m
Net result
€84,688▲ 2.7%
2024 · €82,491
Working capital
€91,639
2024 · -€28,422
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
Line20212022202320242025
Operating result€76,506▲ 349%€81,782▲ 6.9%€174,521▲ 113%€144,998▼ 16.9%€145,431▲ 0.3%
Net result€37,841€38,739▲ 2.4%€102,153▲ 164%€82,491▼ 19.2%€84,688▲ 2.7%
Equity€165,073▲ 29.7%€203,812▲ 23.5%€305,965▲ 50.1%€388,455▲ 27.0%€473,143▲ 21.8%
Total assets€1.4m▲ 10.0%€1.4m▼ 0.2%€1.5m▲ 2.1%€1.3m▼ 11.9%€1.3m▼ 0.2%
Debt€1.3m▲ 7.9%€1.2m▼ 3.2%€1.2m▼ 5.8%€912,229▼ 22.1%€825,581▼ 9.5%
Working capital€58,934▲ 889%€35,332▼ 40.0%€42,794▲ 21.1%-€28,422€91,639
Staff (FTE)2.1▼ 12.5%11.3▲ 30.0%2▲ 53.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 0% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€957,163 ▼ 11.3%
Current assets
€341,561 ▲ 54.3%
Equity and liabilities €1.3m
Equity
€473,143 ▲ 21.8%
Debt
€825,581 ▼ 9.5%
Debt's share of the balance-sheet total falls from 70.1% to 63.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€246,116▼
2024 · €261,803
Cash flow
€185,374▼
2024 · €199,296
Current ratio
1.37▲
2024 · 0.89
Quick ratio
0.84▼
2024 · 0.89
Debt to equity
1.74▼
2024 · 2.35
ROE
17.9%▼
2024 · 21.2%
ROA
6.5%▲
2024 · 6.3%
Interest coverage
9.55▲
2024 · 8.70
Debt ≤ 1 year
€249,922▲
2024 · €249,778
Debt > 1 year
€570,159▼
2024 · €662,451
Income taxes
€35,075▲
2024 · €32,460
Staff costs
€65,776▲
2024 · €44,697
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | €908 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €63,529 | €25,511 | €39,339 | €44,697 | €65,776 | ▲ 47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99,257 | €107,959 | €110,608 | €116,805 | €100,686 | ▼ 13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €10,503 | €3,467 | €726 | ▼ 79.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €0 | - |
| Other operating charges640/8 | €307 | €562 | €941 | €435 | €4,124 | ▲ 848% |
| Gross operating margin9900 | €239,599 | €215,813 | €335,912 | €310,402 | €316,743 | ▲ 2.0% |
| Operating profit (loss)9901 | €76,506 | €81,782 | €174,521 | €144,998 | €145,431 | ▲ 0.3% |
| Financial income75/76B | €2,715 | €2,406 | €81 | €45 | €115 | ▲ 157% |
| Recurring financial income75 | €1,133 | €753 | €81 | €45 | €115 | ▲ 157% |
| Non-recurring financial income76B | €1,582 | €1,653 | - | - | - | - |
| Financial charges65/66B | €30,681 | €30,286 | €29,765 | €30,092 | €25,782 | ▼ 14.3% |
| Recurring financial charges65 | €30,681 | €30,136 | €29,765 | €30,092 | €25,782 | ▼ 14.3% |
| Non-recurring financial charges66B | - | €150 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €48,540 | €53,901 | €144,837 | €114,950 | €119,763 | ▲ 4.2% |
| Income taxes67/77 | €10,699 | €15,162 | €42,684 | €32,460 | €35,075 | ▲ 8.1% |
| Profit (loss) for the period9904 | €37,841 | €38,739 | €102,153 | €82,491 | €84,688 | ▲ 2.7% |
| Profit (loss) for the period to be appropriated9905 | €37,841 | €38,739 | €102,153 | €82,491 | €84,688 | ▲ 2.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.4m | €1.5m | €1.3m | €1.3m | ▼ 0.2% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.1m | €957,163 | ▼ 11.3% |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €1.2m | €1.2m | €1.2m | €1.1m | €956,403 | ▼ 11.3% |
| Land and buildings22 | €1.1m | €1.1m | €1.0m | €950,128 | €882,906 | ▼ 7.1% |
| Plant, machinery and equipment23 | €42,737 | €37,506 | €30,359 | €23,644 | €17,666 | ▼ 25.3% |
| Furniture and vehicles24 | €74,240 | €94,813 | €118,460 | €104,796 | €55,830 | ▼ 46.7% |
| Financial fixed assets28 | €760 | €760 | €1,760 | €760 | €760 | = |
| Current assets29/58 | €228,179 | €247,953 | €308,398 | €221,356 | €341,561 | ▲ 54.3% |
| Stocks and contracts in progress3 | - | - | - | - | €131,161 | - |
| Stocks30/36 | - | - | - | - | €131,161 | - |
| Amounts receivable within one year40/41 | €78,675 | €102,997 | €61,584 | €21,901 | €45,351 | ▲ 107% |
| Trade receivables40 | €68,237 | €92,502 | €60,509 | €21,826 | €45,276 | ▲ 107% |
| Other amounts receivable41 | €10,438 | €10,495 | €1,075 | €75 | €75 | = |
| Cash at bank and in hand54/58 | €148,641 | €144,955 | €246,533 | €194,888 | €157,056 | ▼ 19.4% |
| Deferred charges and accrued income490/1 | €862 | - | €281 | €4,568 | €7,994 | ▲ 75.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.4m | €1.5m | €1.3m | €1.3m | ▼ 0.2% |
| Equity10/15 | €165,073 | €203,812 | €305,965 | €388,455 | €473,143 | ▲ 21.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Outside capital11 | - | - | - | - | €20,460 | - |
| Other1109/19 | - | - | - | - | €20,460 | - |
| Reserves13 | €31,860 | €61,860 | €161,860 | €242,000 | €322,000 | ▲ 33.1% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | €30,000 | €60,000 | €160,000 | €242,000 | €322,000 | ▲ 33.1% |
| Profit (loss) carried forward14 | €114,613 | €123,352 | €125,505 | €125,995 | €130,683 | ▲ 3.7% |
| Provisions and deferred taxes16 | - | - | - | - | €0 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0 | - |
| Taxes161 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.3m | €1.2m | €1.2m | €912,229 | €825,581 | ▼ 9.5% |
| Amounts payable after more than one year17 | €1.1m | €1.0m | €891,363 | €662,451 | €570,159 | ▼ 13.9% |
| Financial debts170/4 | €1.1m | €993,906 | €846,367 | €611,767 | €514,506 | ▼ 15.9% |
| Other amounts payable178/9 | €30,724 | €35,502 | €44,996 | €50,683 | €55,653 | ▲ 9.8% |
| Amounts payable within one year42/48 | €169,246 | €212,620 | €265,604 | €249,778 | €249,922 | ▲ 0.1% |
| Current portion of amounts payable after more than one year42 | €95,804 | €99,640 | €96,610 | €90,203 | €97,261 | ▲ 7.8% |
| Trade debts44 | €7,245 | €61,616 | €39,670 | €37,410 | €16,806 | ▼ 55.1% |
| Suppliers440/4 | €7,245 | €61,616 | €39,670 | €37,410 | €16,806 | ▼ 55.1% |
| Taxes, remuneration and social security45 | €35,092 | €23,455 | €51,851 | €36,276 | €53,442 | ▲ 47.3% |
| Taxes450/3 | €27,416 | €20,089 | €46,270 | €31,234 | €49,332 | ▲ 57.9% |
| Remuneration and social security454/9 | €7,676 | €3,366 | €5,581 | €5,042 | €4,111 | ▼ 18.5% |
| Other amounts payable47/48 | €31,104 | €27,909 | €77,473 | €85,890 | €82,413 | ▼ 4.0% |
| Accrued charges and deferred income492/3 | €9,258 | - | €13,395 | - | €5,500 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,841 | €38,739 | €102,153 | €82,491 | €84,688 | ▲ 2.7% |
| + Depreciation and write-downs630 | €99,257 | €107,959 | €110,608 | €116,805 | €100,686 | ▼ 13.8% |
| Operating cash flow (approximation) | €137,097 | €146,697 | €212,761 | €199,296 | €185,374 | ▼ 7.0% |
| Investment in fixed assets (approximation) | - | -€85,864 | -€80,650 | -€28,204 | €21,479 | ▲ 176% |
| Change in cash | - | -€3,686 | €101,578 | -€51,645 | -€37,832 | ▲ 26.7% |
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
Next filing, fiscal year 2026, expected by
2026
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €102,153 ▲164%
Operating result €174,521, net result €102,153, both a record.
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €200,000Eq €203,812 ▲23.5%
2 profitable years in a row build equity to €203,812.
13-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €37,841
Net result €37,841 after 3 loss-making years.
30-09
Financial
Equity above €150,000Eq €165,073 ▲29.7%
Equity rises from €127,232 to €165,073.
20-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€18,575
Net result drops to -€18,575, the lowest in the series; recovery starts the following year.
Show earlier events
30-09
Financial
Liquidity triplescurrent ratio 1.03
Current ratio from 0.35 to 1.03.
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Spa · 4 establishment units since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue Prof. Henrijean 444900 SpaGround area
1,405 m²
Building footprint
729 m²
Volume, LiDAR
9,073 m³
3 parcels, Wallonia · tallest building 15.7 m, ±4 floors. Linked by address, not a title deed.
4 establishment units
Avenue Prof. Henrijean 44, 4900 Spa
since 20022.115.095.886
BOX +
since 20152.241.692.566
BOX +
since 20182.274.862.608
BOX +
since 20232.352.541.196
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62031B0308/00P004 | Wallonia | 606 m² | 1 · 86 m² | 10.5 m · 3 fl. |
| 62806C0778/00H004 | Wallonia | 579 m² | 1 · 581 m² | 15.7 m · 4 fl. |
| 62313E0798/00C003indicative | Wallonia | 220 m² | 1 · 63 m² | 13.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,220 companies in sector 82100 we hold annual accounts for 3,511. 2,021 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
Founded23-08-2002
Fiscal year end30-09
Activities, NACEBEL 2025
49420Removal services
82100Office administrative and support services
82990Other business support services
Contact
Website
www.box-plus.beLiège
E-mail
info@boxplus.beLiège
Phone
0471/11.81.78Liège
E-mail
info@box-plus.beEngis
Phone
+32471118178Engis
Scores and ratios are computed by Checked and are not a credit decision.