B4F IMMO
ActiveSummary
B4F IMMO has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €48k and a net result of €16k. Equity is growing by ~59.1% per year across the filed fiscal years. Its solvency ranks better than 45% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+2
Solvency49▲+9
Growth78=
Track record94
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 1.5 against 1.29 in 2024; short-term debt: 5.7% and cash: 6.9% of total assets), but 76.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
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
23.8%
Return on assets
8.1%
Age of the figures
9 mo
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 12-05-2026, 80 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
80 d early
2024
56 d early
2023
61 d early
2022
87 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€48k▲ 51.6%
2024 · €32k
2022: €3klowest in 4 years
2023: €18k▲ +409% vs 2022
2024: €32k▲ +81.2% vs 2023
2025: €48k▲ +51.6% vs 2024highest in 4 years
2022 → 2025
Total assets
€203k▼ 1.4%
2024 · €206k
2022: €215khighest in 4 years
2023: €204k▼ -5.5% vs 2022
2024: €206k▲ +1.4% vs 2023
2025: €203k▼ -1.4% vs 2024lowest in 4 years
2022 → 2025
Net result
€16k▲ 15.1%
2024 · €14k
2022: €463lowest in 4 years
2023: €14k▲ +2958% vs 2022
2024: €14k▲ +1.1% vs 2023
2025: €16k▲ +15.1% vs 2024highest in 4 years
2022 → 2025
Working capital
€6k▲ 73.1%
2024 · €3k
2022: €3k
2023: €-7k▼ -379% vs 2022lowest in 4 years
2024: €3k▲ +148% vs 2023
2025: €6k▲ +73.1% vs 2024highest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€3k-€18k▲ 409%€32k▲ 81.2%€48k▲ 51.6%
2022: €3klowest in 4 years
2023: €18k▲ +409% vs 2022
2024: €32k▲ +81.2% vs 2023
2025: €48k▲ +51.6% vs 2024highest in 4 years
Operating result€3k-€22k▲ 631%€22k▼ 0.3%€25k▲ 10.8%
2022: €3klowest in 4 years
2023: €22k▲ +631% vs 2022
2024: €22k▼ -0.3% vs 2023
2025: €25k▲ +10.8% vs 2024highest in 4 years
Net result€463-€14k▲ 2,958%€14k▲ 1.1%€16k▲ 15.1%
2022: €463lowest in 4 years
2023: €14k▲ +2958% vs 2022
2024: €14k▲ +1.1% vs 2023
2025: €16k▲ +15.1% vs 2024highest in 4 years
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 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €203k
Fixed assets
€186k ▼ 2.8%
Current assets
€17k ▲ 16.2%
Equity and liabilities €203k
Equity
€48k ▲ 51.6%
Debt
€155k ▼ 11.2%
Debt's share of the balance-sheet total falls from 84.5% to 76.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30k▲
2024 · €28k
Cash flow
€22k▲
2024 · €20k
Current ratio
1.50▲
2024 · 1.29
Debt to equity
3.20▼
2024 · 5.46
ROE
34.0%▼
2024 · 44.8%
ROA
8.1%▲
2024 · 6.9%
Interest coverage
7.20▲
2024 · 6.20
Debt ≤ 1 year
€12k▼
2024 · €12k
Debt > 1 year
€141k▼
2024 · €160k
Income taxes
€4k▲
2024 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€206k€203k▼
Fixed assets21/28€192k€186k▼
Tangible fixed assets22/27€192k€186k▼
Land and buildings22€192k€186k▼
Current assets29/58€15k€17k▲
Amounts receivable within one year40/41€3k€3k▲
Trade receivables40€3k€3k▲
Cash at bank and in hand54/58€12k€14k▲
Equity and liabilities
Total equity and liabilities10/49€206k€203k▼
Equity10/15€32k€48k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€29k€45k▲
Amounts payable17/49€174k€155k▼
Amounts payable after more than one year17€160k€141k▼
Financial debts170/4€160k€141k▼
Amounts payable within one year42/48€12k€12k▼
Current portion of amounts payable after more than one year42€9k€10k▲
Trade debts44€86€94▲
Suppliers440/4€86€94▲
Taxes, remuneration and social security45€2k€2k▼
Taxes450/3€2k€2k▼
Accrued charges and deferred income492/3€3k€3k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€5k=
Other operating charges640/8€914€943▲
Gross operating margin9900€29k€31k▲
Operating profit (loss)9901€22k€25k▲
Financial charges65/66B€4k€4k▼
Recurring financial charges65€4k€4k▼
Profit (loss) for the period before taxes9903€18k€21k▲
Income taxes67/77€4k€4k▲
Profit (loss) for the period9904€14k€16k▲
Profit (loss) for the period to be appropriated9905€14k€16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€29k€45k▲
Profit (loss) brought forward from the previous period14P€15k€29k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €5k | €5k | €5k | = |
| Other operating charges640/8 | €381 | €879 | €914 | €943 | ▲ 3.1% |
| Gross operating margin9900 | €6k | €29k | €29k | €31k | ▲ 8.5% |
| Operating profit (loss)9901 | €3k | €22k | €22k | €25k | ▲ 10.8% |
| Financial charges65/66B | €2k | €5k | €4k | €4k | ▼ 6.4% |
| Recurring financial charges65 | €2k | €5k | €4k | €4k | ▼ 6.4% |
| Profit (loss) for the period before taxes9903 | €579 | €18k | €18k | €21k | ▲ 15.1% |
| Income taxes67/77 | €116 | €4k | €4k | €4k | ▲ 15.1% |
| Profit (loss) for the period9904 | €463 | €14k | €14k | €16k | ▲ 15.1% |
| Profit (loss) for the period to be appropriated9905 | €463 | €14k | €14k | €16k | ▲ 15.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €215k | €204k | €206k | €203k | ▼ 1.4% |
| Fixed assets21/28 | €202k | €197k | €192k | €186k | ▼ 2.8% |
| Tangible fixed assets22/27 | €202k | €197k | €192k | €186k | ▼ 2.8% |
| Land and buildings22 | €202k | €197k | €192k | €186k | ▼ 2.8% |
| Current assets29/58 | €13k | €7k | €15k | €17k | ▲ 16.2% |
| Amounts receivable within one year40/41 | €3k | €3k | €3k | €3k | ▲ 9.0% |
| Trade receivables40 | €3k | €3k | €3k | €3k | ▲ 9.0% |
| Cash at bank and in hand54/58 | €10k | €4k | €12k | €14k | ▲ 18.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €215k | €204k | €206k | €203k | ▼ 1.4% |
| Equity10/15 | €3k | €18k | €32k | €48k | ▲ 51.6% |
| Contributions10/11 | €3k | €3k | €3k | €3k | = |
| Profit (loss) carried forward14 | €463 | €15k | €29k | €45k | ▲ 56.9% |
| Amounts payable17/49 | €212k | €186k | €174k | €155k | ▼ 11.2% |
| Amounts payable after more than one year17 | €199k | €170k | €160k | €141k | ▼ 12.2% |
| Financial debts170/4 | €199k | €170k | €160k | €141k | ▼ 12.2% |
| Amounts payable within one year42/48 | €11k | €14k | €12k | €12k | ▼ 0.3% |
| Current portion of amounts payable after more than one year42 | €9k | €9k | €9k | €10k | ▲ 3.0% |
| Trade debts44 | €79 | - | €86 | €94 | ▲ 9.2% |
| Suppliers440/4 | €79 | - | €86 | €94 | ▲ 9.2% |
| Taxes, remuneration and social security45 | €2k | €5k | €2k | €2k | ▼ 15.5% |
| Taxes450/3 | €2k | €5k | €2k | €2k | ▼ 15.5% |
| Accrued charges and deferred income492/3 | €3k | €3k | €3k | €3k | ▲ 9.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €463 | €14k | €14k | €16k | ▲ 15.1% |
| + Depreciation and write-downs630 | €3k | €5k | €5k | €5k | = |
| Operating cash flow (approximation) | €3k | €20k | €20k | €22k | ▲ 11.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | €-6k | €8k | €2k | ▼ 74.0% |
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
12-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €16k ▲15.1%
Operating result €25k, net result €16k, both a record.
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 1.29
Current ratio from 0.49 to 1.29; short-term debt falls from €14k to €12k.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
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, Watermaal-Bosvoorde · 1 establishment unit since 2022
Ground area
145 m²
Building footprint
58 m²
Volume, LiDAR
567 m³
Parcel 21652E0069/00V000, Brussels · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Hertogendreef 59, 1170 Watermaal-Bosvoorde
since 20222.330.757.471
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0069/00V000 | Brussels | 145 m² | 1 · 58 m² | 11.9 m · 3 fl. |
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.
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,064 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
Founded07-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
71111Activities of building architects
Contact
E-mail
nicolas@b4f.eu
Scores and ratios are computed by Checked and are not a credit decision.