BT-Immo
ActiveSummary
BT-Immo has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34,659 and a net result of €10,116. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 88% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity ample (current ratio 7.97 against 9.58 in 2024; short-term debt: 7.1% and cash: 46.8% of total assets), and 14.7% of the assets are financed with debt.
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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
85.3%
Return on assets
24.9%
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 02-07-2026, 29 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
29 d early
2024
14 d early
2023
5 d late
2022
35 d early
2021
51 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 25 days before 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 (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. Usually files around 2 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€34,659▲ 41.2%
2024 · €24,543
Total assets
€40,631▲ 51.6%
2024 · €26,809
Net result
€10,116▲ 9.7%
2024 · €9,218
Working capital
€20,253▲ 4.1%
2024 · €19,453
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€15,065-€10,634▼ 29.4%-€8,245€12,367€16,476▲ 33.2%
Net result€11,828within the sector's middle half-€8,218within the sector's middle half▼ 30.5%-€8,721within the sector's middle half€9,218within the sector's middle half€10,116within the sector's middle half▲ 9.7%
Equity€15,828within the sector's middle half-€24,046within the sector's middle half▲ 51.9%€15,325within the sector's middle half▼ 36.3%€24,543within the sector's middle half▲ 60.1%€34,659within the sector's middle half▲ 41.2%
Total assets€34,669below the sector's middle half-€38,941below the sector's middle half▲ 12.3%€27,313below the sector's middle half▼ 29.9%€26,809below the sector's middle half▼ 1.8%€40,631below the sector's middle half▲ 51.6%
Debt€18,841-€14,895▼ 20.9%€11,988▼ 19.5%€2,266▼ 81.1%€5,972▲ 164%
Working capital-€392within the sector's middle half-€8,436within the sector's middle half€7,509within the sector's middle half▼ 11.0%€19,453within the sector's middle half▲ 159%€20,253within the sector's middle half▲ 4.1%
Solvency45.7%within the sector's middle half-61.7%within the sector's middle half▲ 16.1pp56.1%within the sector's middle half▼ 5.6pp91.5%above the sector's middle half▲ 35.4pp85.3%above the sector's middle half▼ 6.2pp
Current ratio0.95within the sector's middle half-2.20within the sector's middle half▲ 1.251.65within the sector's middle half▼ 0.559.58above the sector's middle half▲ 7.947.97above the sector's middle half▼ 1.61
Return on assets (ROA)34.1%above the sector's middle half-21.1%above the sector's middle half▼ 13.0pp-31.9%below the sector's middle half▼ 53.0pp34.4%above the sector's middle half▲ 66.3pp24.9%above the sector's middle half▼ 9.5pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 33% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40,631
Fixed assets
€17,474 ▲ 243%
Current assets
€23,157 ▲ 6.6%
Equity and liabilities €40,631
Equity
€34,659 ▲ 41.2%
Debt
€5,972 ▲ 164%
Debt's share of the balance-sheet total rises from 8.5% to 14.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€21,736▲
2024 · €16,577
Cash flow
€15,377▲
2024 · €13,427
Debt to equity
0.17▲
2024 · 0.09
ROE
29.2%▼
2024 · 37.6%
Interest coverage
7.18▲
2024 · 6.07
Debt ≤ 1 year
€2,904▲
2024 · €2,266
Debt > 1 year
€3,068
Income taxes
€3,333▲
2024 · €420
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,206 | €8,457 | €4,389 | €4,210 | €5,260 | ▲ 25.0% |
| Other operating charges640/8 | €1,164 | €534 | €645 | €465 | €888 | ▲ 91.0% |
| Non-recurring operating charges66A | €91 | - | €1,165 | - | €1,746 | - |
| Gross operating margin9900 | €22,526 | €19,624 | -€2,045 | €17,041 | €24,369 | ▲ 43.0% |
| Operating profit (loss)9901 | €15,065 | €10,634 | -€8,245 | €12,367 | €16,476 | ▲ 33.2% |
| Financial income75/76B | - | €1 | €1 | €0 | €0 | ▼ 75.0% |
| Recurring financial income75 | - | €1 | €1 | €0 | €0 | ▼ 75.0% |
| Financial charges65/66B | €367 | €357 | €344 | €2,729 | €3,026 | ▲ 10.9% |
| Recurring financial charges65 | €367 | €357 | €344 | €2,729 | €3,026 | ▲ 10.9% |
| Profit (loss) for the period before taxes9903 | €14,699 | €10,278 | -€8,588 | €9,638 | €13,449 | ▲ 39.6% |
| Income taxes67/77 | €2,871 | €2,060 | €133 | €420 | €3,333 | ▲ 694% |
| Profit (loss) for the period9904 | €11,828 | €8,218 | -€8,721 | €9,218 | €10,116 | ▲ 9.7% |
| Profit (loss) for the period to be appropriated9905 | €11,828 | €8,218 | -€8,721 | €9,218 | €10,116 | ▲ 9.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34,669 | €38,941 | €27,313 | €26,809 | €40,631 | ▲ 51.6% |
| Fixed assets21/28 | €27,912 | €23,464 | €8,201 | €5,089 | €17,474 | ▲ 243% |
| Intangible fixed assets21 | - | €2,379 | €1,829 | €1,279 | €729 | ▼ 43.0% |
| Tangible fixed assets22/27 | €27,912 | €21,085 | €6,371 | €3,810 | €16,745 | ▲ 339% |
| Plant, machinery and equipment23 | €4,435 | €2,835 | €2,105 | €654 | €8,784 | ▲ 1,243% |
| Furniture and vehicles24 | €23,477 | €18,250 | €4,266 | €3,156 | €7,961 | ▲ 152% |
| Current assets29/58 | €6,757 | €15,477 | €19,113 | €21,720 | €23,157 | ▲ 6.6% |
| Amounts receivable within one year40/41 | €6,045 | €2,996 | €10,085 | €4,551 | €4,141 | ▼ 9.0% |
| Trade receivables40 | €4,417 | €1,011 | €6,867 | €264 | - | - |
| Other amounts receivable41 | €1,629 | €1,985 | €3,218 | €4,287 | €4,141 | ▼ 3.4% |
| Cash at bank and in hand54/58 | €712 | €12,480 | €8,321 | €17,169 | €19,016 | ▲ 10.8% |
| Deferred charges and accrued income490/1 | - | - | €707 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34,669 | €38,941 | €27,313 | €26,809 | €40,631 | ▲ 51.6% |
| Equity10/15 | €15,828 | €24,046 | €15,325 | €24,543 | €34,659 | ▲ 41.2% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Reserves13 | €11,828 | €20,046 | €11,325 | €20,543 | €30,659 | ▲ 49.2% |
| Distributable reserves133 | €11,828 | €20,046 | €11,325 | €20,543 | €30,659 | ▲ 49.2% |
| Amounts payable17/49 | €18,841 | €14,895 | €11,988 | €2,266 | €5,972 | ▲ 164% |
| Amounts payable after more than one year17 | €11,692 | €7,854 | - | - | €3,068 | - |
| Financial debts170/4 | €11,692 | €7,854 | - | - | €3,068 | - |
| Amounts payable within one year42/48 | €7,149 | €7,041 | €11,604 | €2,266 | €2,904 | ▲ 28.1% |
| Current portion of amounts payable after more than one year42 | €3,780 | €3,838 | - | - | €2,504 | - |
| Trade debts44 | €588 | €469 | €958 | €455 | €400 | ▼ 12.1% |
| Suppliers440/4 | €588 | €469 | €958 | €455 | €400 | ▼ 12.1% |
| Taxes, remuneration and social security45 | €1,507 | €447 | - | - | - | - |
| Taxes450/3 | €1,507 | €447 | - | - | - | - |
| Other amounts payable47/48 | €1,275 | €2,287 | €10,646 | €1,812 | - | - |
| Accrued charges and deferred income492/3 | - | - | €384 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,828 | €8,218 | -€8,721 | €9,218 | €10,116 | ▲ 9.7% |
| + Depreciation and write-downs630 | €6,206 | €8,457 | €4,389 | €4,210 | €5,260 | ▲ 25.0% |
| Operating cash flow (approximation) | €18,034 | €16,675 | -€4,332 | €13,427 | €15,377 | ▲ 14.5% |
| Investment in fixed assets (approximation) | - | -€4,010 | €10,874 | -€1,098 | -€17,645 | ▼ 1,506% |
| Change in cash | - | €11,769 | -€4,160 | €8,848 | €1,847 | ▼ 79.1% |
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
09-09
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 17-08-2026
- Registered-office move, Rue de la Sapinière 3, 5340 Gesves
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €9,218
Net result €9,218 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 9.58
Current ratio from 1.65 to 9.58; short-term debt falls from €11,604 to €2,266.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
2023
31-12
Financial
Weakest financial yearnet -€8,721
Net result drops to -€8,721, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 2.20
Current ratio from 0.95 to 2.20; short-term debt falls from €7,149 to €7,041.
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gesves · 1 establishment unit since 2020
Ground area
985 m²
Building footprint
114 m²
Parcel 92054F0034/00M002, Wallonia. Linked by address, not a title deed.
1 establishment unit
BT-Immo
since 20202.309.847.538
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92054F0034/00M002 | Wallonia | 985 m² | 1 · 114 m² | - |
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 11,757 companies in sector 68310 we hold annual accounts for 6,914. 4,534 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
Founded09-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
66220Insurance agents and brokers
68321Property management for co-owned buildings (syndics)
68322Real estate appraisal on a fee or contract basis
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757924247
Registered
10-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.