CREDIM
ActiveSummary
CREDIM has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.8m and a net result of €428,779. Equity is growing by ~21.2% per year across the filed fiscal years. Its solvency ranks better than 24% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▲+2
Solvency35=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €400,000 at 30 days acceptable
Liquidity ample (current ratio 2.44 against 3.05 in 2024; short-term debt: 7.4% and cash: 0.5% of total assets), but 90% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
10%
Return on assets
0.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 4577 sector peers (2025).
NBB · sector comparisonPosition among 4577 sector peers
Solvency
better than 24%
← weakest
strongest →
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 23-07-2026, 8 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
8 d early
2024
20 d late
2023
18 d early
2022
24 d late
2021
31 d late
2020
17 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average on the deadline day; 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€428,779▲ 8.8%
2024 · €394,034
Working capital
€7.3m▼ 39.6%
2024 · €12.1m
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€1.6m▲ 48.6%€2.7m▲ 67.4%€2.8m▲ 1.8%€2.7m▼ 2.0%€2.3m▼ 15.4%
Net result€992,075▲ 46.5%€1.6m▲ 57.9%€1.0m▼ 35.2%€394,034▼ 61.2%€428,779▲ 8.8%
Equity€3.3m▲ 42.8%€5.1m▲ 55.2%€6.1m▲ 19.8%€6.5m▲ 6.4%€6.8m▲ 3.6%
Total assets€34.1m▲ 53.8%€55.9m▲ 64.1%€65.8m▲ 17.7%€68.2m▲ 3.7%€68.1m▼ 0.2%
Debt€30.7m▲ 55.1%€50.2m▲ 63.2%€59.1m▲ 17.7%€61.1m▲ 3.5%€60.8m▼ 0.6%
Working capital€15.2m▲ 133%€18.9m▲ 23.9%€18.8m▼ 0.3%€12.1m▼ 35.9%€7.3m▼ 39.6%
Staff (FTE)1.6▲ 60.0%2▲ 25.0%2=2.6▲ 30.0%3▲ 15.4%
Why a figure moved sharply
- 2024 Net result -61% on 2023. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €68.1m
Fixed assets
€55.7m ▲ 10.9%
Current assets
€12.3m ▼ 31.2%
Equity and liabilities €68.1m
Equity
€6.8m ▲ 3.6%
Provisions
€495,185 ▼ 7.0%
Debt
€60.8m ▼ 0.6%
Debt's share of the balance-sheet total falls from 89.6% to 89.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.5m▼
2024 · €3.7m
Cash flow
€1.6m▲
2024 · €1.3m
Current ratio
2.44▼
2024 · 3.05
Quick ratio
0.55▲
2024 · 0.43
Debt to equity
8.97▼
2024 · 9.35
ROE
6.3%▲
2024 · 6.0%
ROA
0.6%▲
2024 · 0.6%
Interest coverage
1.91▲
2024 · 1.58
Debt ≤ 1 year
€5.1m▼
2024 · €5.9m
Debt > 1 year
€55.6m▲
2024 · €54.9m
Income taxes
€117,233▲
2024 · €63,714
Staff costs
€210,050▲
2024 · €165,340
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,081 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
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 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 1,081 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €80,409 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €79,966 | €103,297 | €118,744 | €165,340 | €210,050 | ▲ 27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €509,589 | €550,723 | €724,193 | €955,725 | €1.2m | ▲ 22.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €120,000 | €431,226 | €432,859 | -€573,077 | ▼ 232% |
| Other operating charges640/8 | €263,932 | €207,389 | €255,545 | €310,368 | €448,060 | ▲ 44.4% |
| Gross operating margin9900 | €2.5m | €3.7m | €4.3m | €4.6m | €3.6m | ▼ 22.4% |
| Operating profit (loss)9901 | €1.6m | €2.7m | €2.8m | €2.7m | €2.3m | ▼ 15.4% |
| Financial income75/76B | €7,154 | €154,664 | €228,870 | €18,905 | €22,108 | ▲ 16.9% |
| Recurring financial income75 | €7,154 | €154,664 | €228,870 | €18,905 | €22,108 | ▲ 16.9% |
| Financial charges65/66B | €488,999 | €905,255 | €1.9m | €2.3m | €1.8m | ▼ 21.7% |
| Recurring financial charges65 | €488,999 | €905,255 | €1.9m | €2.3m | €1.8m | ▼ 21.7% |
| Profit (loss) for the period before taxes9903 | €1.2m | €2.0m | €1.1m | €420,568 | €508,833 | ▲ 21.0% |
| Transfer from deferred taxes780 | - | €9,627 | €9,734 | €37,180 | €37,180 | = |
| Income taxes67/77 | €164,076 | €434,810 | €90,663 | €63,714 | €117,233 | ▲ 84.0% |
| Profit (loss) for the period9904 | €992,075 | €1.6m | €1.0m | €394,034 | €428,779 | ▲ 8.8% |
| Transfer from tax-exempt reserves789 | - | €6,620 | €6,694 | €25,567 | €25,567 | = |
| Profit (loss) for the period to be appropriated9905 | €992,075 | €1.6m | €1.0m | €419,600 | €454,346 | ▲ 8.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €34.1m | €55.9m | €65.8m | €68.2m | €68.1m | ▼ 0.2% |
| Fixed assets21/28 | €16.9m | €32.4m | €40.1m | €50.3m | €55.7m | ▲ 10.9% |
| Intangible fixed assets21 | - | - | - | - | €74,980 | - |
| Tangible fixed assets22/27 | €15.7m | €31.2m | €38.9m | €49.1m | €55.6m | ▲ 13.2% |
| Land and buildings22 | €15.7m | €31.2m | €36.9m | €46.9m | €53.3m | ▲ 13.8% |
| Leasing and similar rights25 | - | - | €2.0m | €2.2m | €2.2m | ▼ 0.5% |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €82,412 | ▼ 92.9% |
| Current assets29/58 | €17.2m | €23.5m | €25.7m | €17.9m | €12.3m | ▼ 31.2% |
| Amounts receivable after more than one year29 | €1.7m | €1.6m | €1.5m | €1.5m | €1.5m | = |
| Other amounts receivable291 | €1.7m | €1.6m | €1.5m | €1.5m | €1.5m | = |
| Stocks and contracts in progress3 | €15.2m | €20.5m | €20.3m | €15.4m | €9.5m | ▼ 38.1% |
| Stocks30/36 | €15.2m | €20.5m | €20.3m | €15.4m | €9.5m | ▼ 38.1% |
| Amounts receivable within one year40/41 | €75,116 | €453,370 | €3.5m | €736,009 | €977,142 | ▲ 32.8% |
| Trade receivables40 | €74,509 | €99,130 | €236,812 | €557,754 | €976,291 | ▲ 75.0% |
| Other amounts receivable41 | €607 | €354,241 | €3.3m | €178,254 | €851 | ▼ 99.5% |
| Cash at bank and in hand54/58 | €139,338 | €652,033 | €284,462 | €250,769 | €309,149 | ▲ 23.3% |
| Deferred charges and accrued income490/1 | €81,035 | €279,356 | €96,638 | €47,298 | €17,987 | ▼ 62.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €34.1m | €55.9m | €65.8m | €68.2m | €68.1m | ▼ 0.2% |
| Equity10/15 | €3.3m | €5.1m | €6.1m | €6.5m | €6.8m | ▲ 3.6% |
| Contributions10/11 | €371,840 | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Capital10 | €371,840 | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Issued capital100 | €371,840 | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Revaluation surpluses12 | €358,039 | €325,490 | €292,941 | €260,392 | €227,843 | ▼ 12.5% |
| Reserves13 | €2.6m | €2.9m | €4.0m | €4.4m | €4.7m | ▲ 6.2% |
| Non-distributable reserves130/1 | €37,184 | €86,886 | €86,886 | €107,866 | €130,583 | ▲ 21.1% |
| Legal reserve130 | €37,184 | €86,886 | €86,886 | €107,866 | €130,583 | ▲ 21.1% |
| Tax-exempt reserves132 | - | €412,531 | €405,837 | €380,270 | €354,704 | ▼ 6.7% |
| Distributable reserves133 | €2.5m | €2.4m | €3.5m | €3.9m | €4.2m | ▲ 7.0% |
| Provisions and deferred taxes16 | - | €579,279 | €569,545 | €532,365 | €495,185 | ▼ 7.0% |
| Deferred taxes168 | - | €579,279 | €569,545 | €532,365 | €495,185 | ▼ 7.0% |
| Amounts payable17/49 | €30.7m | €50.2m | €59.1m | €61.1m | €60.8m | ▼ 0.6% |
| Amounts payable after more than one year17 | €28.3m | €44.3m | €52.0m | €54.9m | €55.6m | ▲ 1.3% |
| Financial debts170/4 | €20.3m | €33.8m | €44.2m | €44.1m | €43.9m | ▼ 0.3% |
| Advances received on contracts in progress176 | - | €4.1m | €6.8m | €8.5m | €10.8m | ▲ 26.9% |
| Other amounts payable178/9 | €8.0m | €6.4m | €1.0m | €2.3m | €892,966 | ▼ 61.7% |
| Amounts payable within one year42/48 | €2.0m | €4.6m | €6.9m | €5.9m | €5.1m | ▼ 14.0% |
| Current portion of amounts payable after more than one year42 | €610,000 | €1.1m | €5.1m | €4.2m | €2.7m | ▼ 36.9% |
| Financial debts43 | - | €1.8m | €1.2m | €1.3m | €1.6m | ▲ 21.6% |
| Credit institutions430/8 | - | €1.8m | €1.2m | €1.3m | €1.6m | ▲ 21.6% |
| Trade debts44 | €15,452 | €54,335 | €77,502 | €45,298 | €307,005 | ▲ 578% |
| Suppliers440/4 | €15,452 | €54,335 | €77,502 | €45,298 | €307,005 | ▲ 578% |
| Advances received on contracts in progress46 | €258,525 | €1.1m | €222,420 | €222,420 | €222,420 | = |
| Taxes, remuneration and social security45 | €161,452 | €547,395 | €254,921 | €103,418 | €223,063 | ▲ 116% |
| Taxes450/3 | €148,941 | €530,421 | €236,248 | €82,443 | €196,512 | ▲ 138% |
| Remuneration and social security454/9 | €12,510 | €16,975 | €18,673 | €20,976 | €26,551 | ▲ 26.6% |
| Other amounts payable47/48 | €916,382 | - | €19,093 | €18,943 | €97,147 | ▲ 413% |
| Accrued charges and deferred income492/3 | €456,950 | €1.2m | €224,026 | €356,563 | €134,309 | ▼ 62.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €992,075 | €1.6m | €1.0m | €394,034 | €428,779 | ▲ 8.8% |
| + Depreciation and write-downs630 | €509,589 | €550,723 | €724,193 | €955,725 | €1.2m | ▲ 22.5% |
| Operating cash flow (approximation) | €1.5m | €2.1m | €1.7m | €1.3m | €1.6m | ▲ 18.5% |
| Investment in fixed assets (approximation) | - | -€16.1m | -€8.4m | -€11.1m | -€6.6m | ▲ 40.4% |
| Change in cash | - | €512,696 | -€367,571 | -€33,693 | €58,380 | ▲ 273% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 20 days late
2024
23-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
31-12
Financial
Highest result since 2018net €1.6m ▲57.9%
Net result €1.6m, the highest in the series.
31-12
Financial
Equity above €5mEq €5.1m ▲55.2%
5 profitable years in a row build equity to €5.1m.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity times 5current ratio 5.52
Current ratio from 1.16 to 5.52; short-term debt falls from €4.5m to €1.4m.
31-12
Financial
Equity above €2mEq €2.3m ▲41.3%
3 profitable years in a row build equity to €2.3m.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Gent · 1 establishment unit since 1990
Ground area
5,924 m²
Building footprint
1,676 m²
Volume, LiDAR
8,760 m³
Parcel 44017D0926/00E000, Flanders · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Immolease
since 19902.048.279.912
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017D0926/00E000 | Flanders | 5,924 m² | 1 · 1,676 m² | 6.7 m · 2 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.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
- ERSOparentSourceaccounts ERSO 30-09-202552.87%
Holdings 1
-
0.1%
According to the 2025 annual accounts of CREDIM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
894500BT47EXKVLT2Q50
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 2,710 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-04-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
64210Activities of holding companies
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440399992
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.