BOULVIMMO
ActiveSummary
BOULVIMMO has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324,033 and a net result of €75,865. Equity has been shrinking by about 7% per year since 2019. Its solvency ranks better than 38% of 17,145 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 19-01-1993 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201and 1 other
- Establishment unit
- 2.061.330.271 5300 Andenne, since 18-03-1993
- Financial year end
- 31 December
- Peppol
- Reachable since 29-09-2025
Board and ownership
- Michel BouivinManaging director
- BOULVIN MichelDaily manager
- BOULVIN PhilippeDirector · since 05-09-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €306,681
- ▲ 37.7%
- Turnover
- ≈ €350,000
- estimated
- Profit
- €75,865
- Equity
- €324,033
- ▲ 30.6%
- Total assets
- €2.1m
- ▲ 0.3%
Score breakdownraises riskEquity €324,033 (15.1% of total assets)lowers riskSize: total assets €2.1mFigures for financial year 2025 (filed on 06-06-2026)Legal form: public limited companyShow the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, small). It does better than 35% of them on solvency, 87% on liquidity, 72% on profitability and 85% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 45 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 05-06-2026 PDF all 32 filings
Every figure per financial year
The operating result for 2025 is 5.8 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €250,000 | €250,000 | €250,000 | €325,000 |
| Mortgage mandates | €1.1m | €1.1m | €1.1m | €1.1m |
| Carrying value of the mortgaged assets | €709,414 | €1.6m | €1.6m | €1.4m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €483,067 | €636,589 | €193,565 | €202,039 |
| Depreciation and write-downs of the year | €173,092 | €155,516 | €166,433 | €142,338 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €114,116 | €126,001 | €125,664 | €173,092 | €155,516 | €166,433 | €142,338 | ▼ 14.5% |
| Other operating charges640/8 | - | - | - | €33,319 | €27,911 | €35,090 | €41,630 | ▲ 18.6% |
| Non-recurring operating charges66A | - | - | - | - | €0 | - | - | - |
| Gross operating margin9900 | €121,374 | €142,881 | €180,335 | €210,056 | €174,002 | €222,638 | €306,681 | ▲ 37.7% |
| Operating profit (loss)9901 | -€15,900 | -€7,905 | €27,947 | €3,645 | -€9,424 | €21,114 | €122,713 | ▲ 481% |
| Financial income75/76B | - | - | - | €54 | €7 | €3 | €179 | ▲ 59× |
| Recurring financial income75 | - | €0 | €3 | €54 | €7 | €3 | €179 | ▲ 59× |
| Financial charges65/66B | - | - | - | €28,024 | €38,130 | €44,461 | €47,027 | ▲ 5.8% |
| Recurring financial charges65 | €22,062 | €22,227 | €21,780 | €28,024 | €38,130 | €44,461 | €47,027 | ▲ 5.8% |
| Profit (loss) for the period before taxes9903 | -€37,961 | -€30,131 | €6,169 | -€24,325 | -€47,547 | -€23,344 | €75,865 | - |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €0 | - |
| Income taxes67/77 | - | - | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | -€37,961 | -€30,131 | €6,169 | -€24,325 | -€47,547 | -€23,344 | €75,865 | - |
| Profit (loss) for the period to be appropriated9905 | -€37,961 | -€30,131 | €6,169 | -€24,325 | -€47,547 | -€23,344 | €75,865 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.4m | €1.5m | €1.5m | €1.6m | €2.1m | €2.1m | €2.1m | ▲ 0.3% |
| Formation expenses20 | - | - | - | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €1.3m | €1.4m | €1.2m | €1.6m | €2.0m | €2.1m | €2.0m | ▼ 4.8% |
| Tangible fixed assets22/27 | €1.3m | €1.4m | €1.2m | €1.6m | €2.0m | €2.1m | €2.0m | ▼ 4.8% |
| Land and buildings22 | - | - | - | €1.6m | €2.0m | €2.0m | €1.8m | ▼ 10.4% |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.003m | €0.002m | €0.001m | ▼ 59.2% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.002m | €0.05m | €0.05m | ▼ 7.1% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €0.1m | - |
| Current assets29/58 | €0.08m | €0.2m | €0.2m | €0.06m | €0.07m | €0.07m | €0.2m | ▲ 148% |
| Amounts receivable within one year40/41 | €0.006m | €0.006m | €0.006m | €0.01m | €0.007m | €0.001m | €0.002m | ▲ 73.8% |
| Trade receivables40 | - | - | - | €0.01m | €0.002m | €0.001m | €0.002m | ▲ 70.1% |
| Other amounts receivable41 | - | - | - | €0 | €0.005m | €0 | €50 | - |
| Current investments50/53 | - | - | - | - | - | - | €0 | - |
| Cash at bank and in hand54/58 | €0.07m | €0.1m | €0.2m | €0.04m | €0.06m | €0.07m | €0.2m | ▲ 151% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.004m | €0.003m | €0.007m | ▲ 101% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €1.5m | €1.6m | €2.1m | €2.1m | €2.1m | ▲ 0.3% |
| Equity10/15 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 30.6% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | - | - | - | €0 | - |
| Distributable reserves133 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | -€0.04m | -€0.07m | -€0.07m | -€0.09m | -€0.1m | -€0.2m | -€0.09m | ▲ 46.7% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €0 | - |
| Deferred taxes168 | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.1m | €1.2m | €1.1m | €1.3m | €1.8m | €1.9m | €1.8m | ▼ 3.7% |
| Amounts payable after more than one year17 | €1.0m | €1.1m | €1.0m | €1.2m | €1.7m | €1.7m | €1.7m | ▼ 2.9% |
| Financial debts170/4 | - | - | - | €0.6m | €1.2m | €1.2m | €1.1m | ▼ 3.0% |
| Other amounts payable178/9 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 2.8% |
| Amounts payable within one year42/48 | €0.08m | €0.1m | €0.1m | €0.09m | €0.1m | €0.2m | €0.1m | ▼ 12.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.1m | €0.09m | ▼ 14.8% |
| Trade debts44 | €0.006m | €0.006m | €0.02m | €0.007m | €0.009m | €0.009m | €482 | ▼ 94.7% |
| Suppliers440/4 | - | - | - | €0.007m | €0.009m | €0.009m | €482 | ▼ 94.7% |
| Advances received on contracts in progress46 | - | - | - | - | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.001m | €0.003m | €0.009m | ▲ 166% |
| Taxes450/3 | - | - | - | €0.001m | €0.001m | €0.003m | €0.009m | ▲ 166% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.04m | €0.05m | €0.04m | ▼ 4.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.004m | €0.006m | €0.006m | ▲ 6.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37,961 | -€30,131 | €6,169 | -€24,325 | -€47,547 | -€23,344 | €75,865 | - |
| + Depreciation and write-downs630 | €114,116 | €126,001 | €125,664 | €173,092 | €155,516 | €166,433 | €142,338 | ▼ 14.5% |
| Operating cash flow (approximation) | €76,155 | €95,870 | €131,833 | €148,767 | €107,969 | €143,089 | €218,203 | ▲ 52.5% |
| Investment in fixed assets (approximation) | - | -€142,310 | -€20,471 | -€483,067 | -€636,589 | -€193,565 | -€42,381 | ▲ 78.1% |
| Change in cash | - | €71,508 | €65,803 | -€168,149 | €20,143 | €7,520 | €101,198 | ▲ 13× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 4,685 companies had the same profile as BOULVIMMO has now. Two years later, 96.9% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of BOULVIMMO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 4,685 companies, not a prediction for BOULVIMMO. 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.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-06-2026 | 2026-00140314 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00144783 | |
| 31-12-2023 | micro format | 07-06-2024 | 2024-00114953 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00185475 | |
| 30-09-2021 | micro format | 15-03-2022 | 2022-07600528 | |
| 30-09-2020 | micro format | 08-03-2021 | 2021-07100075 | |
| 30-09-2019 | micro format | 01-04-2020 | 2020-08500557 | |
| 30-09-2018 | micro format | 06-03-2019 | 2019-06600030 | |
| 30-09-2017 | micro format | 21-03-2018 | 2018-07300057 | |
| 30-09-2016 | full format | 22-03-2017 | 2017-06900574 |
Board & ownership
Directors
Board 1
Day-to-day management 2
Owners and capital
Capital transactions
- 09-09-2022 Capital stated in the deed · €334,400 · 3,000 shares
Mandate history
- Board
- Day-to-day management
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| BOULVIN Philippe |
|
| Michel Bouivin |
|
| BOULVIN Michel |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, organe d'administration”
Articles of association, deed of 09-09-2022 (in French)
Network & group
BOULVIMMO shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of BOULVIMMO. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
09-09
Gazette deed
Changes of role: BOULVIN Michel (daily management delegate) and BOULVIN Philippe (sole director)Amendment of the articles · Capital · Power of attorney11 points ▸
- General meeting, 05-09-2022
- Amendment of the articles, mentioned 2 times in the deed
- Capital, €334,400
- Power of attorney, François HERMANN
- Director resignation, BOULVIN Michel (director)
- Director resignation, BOULVIN Philippe (director)
- Director discharge, BOULVIN Michel
- Director discharge, BOULVIN Philippe
- Director appointment, BOULVIN Philippe (sole director)
- Director appointment, BOULVIN Michel (daily management delegate)
- Registered office clause, “5300 Andenne (Seilles), rue de la Station”, 80, “assemblée générale” (deed in French)
08-04
Gazette deed
Reappointments: Michel Bouivin (managing director) and Philippe Boulvin (managing director)3 points ▸
- General meeting, 26-02-2022
- Director reappointment, Michel Bouivin (managing director)
- Director reappointment, Philippe Boulvin (managing director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
3 activities
- La société a pour objet l’achat,la vente,la construction,la promotion,la gestion,la transformation,la réparation,la location,le nettoyage,l’entretien,le courtage et le lotissement de tous biens immeubles,meubles ou non,ainsi que d’une manière plus générale,toutes opérations immobilières ou de location
- La société pourra également accomplir toutes opérations généralement quelconques,industrielles,commerciales,financières,mobilières ou immobilières se rapportant directement ou indirectement à son objet
- Elle pourra aussi s’intéresser par toutes voies dans toutes affaires,entreprises ou sociétés ayant un objet analogue,similaire ou connexe,ou qui sont simplement de nature à favoriser le développement de son activité,à lui procurer les matières premières,à faciliter l’écoulement de ses produits et matériaux,ou prendre des participations dans des sociétés ayant un caractère financier en vue de promouvoir son activité commerciale ou industrielle
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92411B0288/00F003 | Wallonia | 754 m² | 1 · 177 m² | 13.7 m · 3 |