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 €473k and a net result of €85k. 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 €30k 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
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
Financials · fiscal year 2025, micro schema
Equity
€473k▲ 21.8%
2024 · €388k
Total assets
€1.30M▼ 0.2%
2024 · €1.30M
Net result
€85k▲ 2.7%
2024 · €82k
Working capital
€92k
2024 · €-28k
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€77k▲ 349%€82k▲ 6.9%€175k▲ 113%€145k▼ 16.9%€145k▲ 0.3%
Net result€38k€39k▲ 2.4%€102k▲ 164%€82k▼ 19.2%€85k▲ 2.7%
Equity€165k▲ 29.7%€204k▲ 23.5%€306k▲ 50.1%€388k▲ 27.0%€473k▲ 21.8%
Total assets€1.45M▲ 10.0%€1.45M▼ 0.2%€1.48M▲ 2.1%€1.30M▼ 11.9%€1.30M▼ 0.2%
Debt€1.28M▲ 7.9%€1.24M▼ 3.2%€1.17M▼ 5.8%€912k▼ 22.1%€826k▼ 9.5%
Working capital€59k▲ 889%€35k▼ 40.0%€43k▲ 21.1%€-28k€92k
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 €1.30M
Fixed assets
€957k ▼ 11.3%
Current assets
€342k ▲ 54.3%
Equity and liabilities €1.30M
Equity
€473k ▲ 21.8%
Debt
€826k ▼ 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
€246k▼
2024 · €262k
Cash flow
€185k▼
2024 · €199k
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
€250k▲
2024 · €250k
Debt > 1 year
€570k▼
2024 · €662k
Income taxes
€35k▲
2024 · €32k
Staff costs
€66k▲
2024 · €45k
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 | €64k | €26k | €39k | €45k | €66k | ▲ 47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99k | €108k | €111k | €117k | €101k | ▼ 13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €11k | €3k | €726 | ▼ 79.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €0 | - |
| Other operating charges640/8 | €307 | €562 | €941 | €435 | €4k | ▲ 848% |
| Gross operating margin9900 | €240k | €216k | €336k | €310k | €317k | ▲ 2.0% |
| Operating profit (loss)9901 | €77k | €82k | €175k | €145k | €145k | ▲ 0.3% |
| Financial income75/76B | €3k | €2k | €81 | €45 | €115 | ▲ 157% |
| Recurring financial income75 | €1k | €753 | €81 | €45 | €115 | ▲ 157% |
| Non-recurring financial income76B | €2k | €2k | - | - | - | - |
| Financial charges65/66B | €31k | €30k | €30k | €30k | €26k | ▼ 14.3% |
| Recurring financial charges65 | €31k | €30k | €30k | €30k | €26k | ▼ 14.3% |
| Non-recurring financial charges66B | - | €150 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €49k | €54k | €145k | €115k | €120k | ▲ 4.2% |
| Income taxes67/77 | €11k | €15k | €43k | €32k | €35k | ▲ 8.1% |
| Profit (loss) for the period9904 | €38k | €39k | €102k | €82k | €85k | ▲ 2.7% |
| Profit (loss) for the period to be appropriated9905 | €38k | €39k | €102k | €82k | €85k | ▲ 2.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.45M | €1.45M | €1.48M | €1.30M | €1.30M | ▼ 0.2% |
| Fixed assets21/28 | €1.22M | €1.20M | €1.17M | €1.08M | €957k | ▼ 11.3% |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €1.22M | €1.20M | €1.17M | €1.08M | €956k | ▼ 11.3% |
| Land and buildings22 | €1.10M | €1.06M | €1.02M | €950k | €883k | ▼ 7.1% |
| Plant, machinery and equipment23 | €43k | €38k | €30k | €24k | €18k | ▼ 25.3% |
| Furniture and vehicles24 | €74k | €95k | €118k | €105k | €56k | ▼ 46.7% |
| Financial fixed assets28 | €760 | €760 | €2k | €760 | €760 | = |
| Current assets29/58 | €228k | €248k | €308k | €221k | €342k | ▲ 54.3% |
| Stocks and contracts in progress3 | - | - | - | - | €131k | - |
| Stocks30/36 | - | - | - | - | €131k | - |
| Amounts receivable within one year40/41 | €79k | €103k | €62k | €22k | €45k | ▲ 107% |
| Trade receivables40 | €68k | €93k | €61k | €22k | €45k | ▲ 107% |
| Other amounts receivable41 | €10k | €10k | €1k | €75 | €75 | = |
| Cash at bank and in hand54/58 | €149k | €145k | €247k | €195k | €157k | ▼ 19.4% |
| Deferred charges and accrued income490/1 | €862 | - | €281 | €5k | €8k | ▲ 75.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.45M | €1.45M | €1.48M | €1.30M | €1.30M | ▼ 0.2% |
| Equity10/15 | €165k | €204k | €306k | €388k | €473k | ▲ 21.8% |
| Contributions10/11 | €19k | €19k | €19k | €20k | €20k | = |
| Outside capital11 | - | - | - | - | €20k | - |
| Other1109/19 | - | - | - | - | €20k | - |
| Reserves13 | €32k | €62k | €162k | €242k | €322k | ▲ 33.1% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Distributable reserves133 | €30k | €60k | €160k | €242k | €322k | ▲ 33.1% |
| Profit (loss) carried forward14 | €115k | €123k | €126k | €126k | €131k | ▲ 3.7% |
| Provisions and deferred taxes16 | - | - | - | - | €0 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0 | - |
| Taxes161 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.28M | €1.24M | €1.17M | €912k | €826k | ▼ 9.5% |
| Amounts payable after more than one year17 | €1.10M | €1.03M | €891k | €662k | €570k | ▼ 13.9% |
| Financial debts170/4 | €1.07M | €994k | €846k | €612k | €515k | ▼ 15.9% |
| Other amounts payable178/9 | €31k | €36k | €45k | €51k | €56k | ▲ 9.8% |
| Amounts payable within one year42/48 | €169k | €213k | €266k | €250k | €250k | ▲ 0.1% |
| Current portion of amounts payable after more than one year42 | €96k | €100k | €97k | €90k | €97k | ▲ 7.8% |
| Trade debts44 | €7k | €62k | €40k | €37k | €17k | ▼ 55.1% |
| Suppliers440/4 | €7k | €62k | €40k | €37k | €17k | ▼ 55.1% |
| Taxes, remuneration and social security45 | €35k | €23k | €52k | €36k | €53k | ▲ 47.3% |
| Taxes450/3 | €27k | €20k | €46k | €31k | €49k | ▲ 57.9% |
| Remuneration and social security454/9 | €8k | €3k | €6k | €5k | €4k | ▼ 18.5% |
| Other amounts payable47/48 | €31k | €28k | €77k | €86k | €82k | ▼ 4.0% |
| Accrued charges and deferred income492/3 | €9k | - | €13k | - | €6k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38k | €39k | €102k | €82k | €85k | ▲ 2.7% |
| + Depreciation and write-downs630 | €99k | €108k | €111k | €117k | €101k | ▼ 13.8% |
| Operating cash flow (approximation) | €137k | €147k | €213k | €199k | €185k | ▼ 7.0% |
| Investment in fixed assets (approximation) | - | €-86k | €-81k | €-28k | €21k | ▲ 176% |
| Change in cash | - | €-4k | €102k | €-52k | €-38k | ▲ 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.
More with these figures Sector benchmark What changed Value indication
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 €102k ▲164%
Operating result €175k, net result €102k, both a record.
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €200kEq €204k ▲23.5%
2 profitable years in a row build equity to €204k.
13-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €38k
Net result €38k after 3 loss-making years.
30-09
Financial
Equity above €150kEq €165k ▲29.7%
Equity rises from €127k to €165k.
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 €-19k
Net result drops to €-19k, 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.