ELMA IMMO
ActiveSummary
ELMA IMMO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €659,794 and a net result of -€13,993. Equity is growing by ~22.9% per year across the filed fiscal years. Its solvency ranks better than 62% of 4663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+10
Solvency78▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 1.96 against 2.29 in 2024; short-term debt: 3.5% and cash: 6.4% of total assets), and 47.1% 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
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
18192021232425
2018 to 2025 · latest year -€13,993
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 18-05-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 d early
2024
on the day
2023
3 d early
2021
24 d late
2020
25 d late
2019
31 d late
2018
29 d late
← 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 9 days after 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 30-11-2026 and is due by 30-06-2027. Nothing is late today. Usually files around 28 June (3 of the last 3 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#8 company by equity in Chaumont-Gistoux, Real estate sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€13,993▲ 57.0%
2024 · -€32,574
Working capital
€42,083▼ 33.9%
2024 · €63,667
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202320242025
Operating result€90,510▲ 1.6%€174,188▲ 92.5%€529,181--€6,455€9,488
Net result€65,167within the sector's middle half▲ 16.0%€130,936within the sector's middle half▲ 101%€390,553above the sector's middle half--€32,574within the sector's middle half-€13,993within the sector's middle half▲ 57.0%
Equity€243,972within the sector's middle half▲ 36.4%€363,908within the sector's middle half▲ 49.2%€706,361within the sector's middle half-€673,787within the sector's middle half▼ 4.6%€659,794within the sector's middle half▼ 2.1%
Total assets€589,516below the sector's middle half▲ 17.2%€686,971within the sector's middle half▲ 16.5%€1.5mwithin the sector's middle half-€1.3mwithin the sector's middle half▼ 11.5%€1.2mwithin the sector's middle half▼ 4.3%
Debt€345,544▲ 6.6%€323,063▼ 6.5%€765,340-€628,833▼ 17.8%€587,340▼ 6.6%
Working capital€214,358within the sector's middle half▲ 59.9%€312,830within the sector's middle half▲ 45.9%€179,283within the sector's middle half-€63,667within the sector's middle half▼ 64.5%€42,083within the sector's middle half▼ 33.9%
Solvency41.4%within the sector's middle half▲ 5.8pp53.0%within the sector's middle half▲ 11.6pp48.0%within the sector's middle half-51.7%within the sector's middle half▲ 3.7pp52.9%within the sector's middle half▲ 1.2pp
Current ratio1.89within the sector's middle half▲ 0.232.43within the sector's middle half▲ 0.542.17within the sector's middle half-2.29within the sector's middle half▲ 0.121.96within the sector's middle half▼ 0.33
Return on assets (ROA)11.1%above the sector's middle half▼ 0.1pp19.1%above the sector's middle half▲ 8.0pp26.5%above the sector's middle half--2.5%below the sector's middle half▼ 29.0pp-1.1%within the sector's middle half▲ 1.4pp
Staff (FTE)12.4above the sector's middle half▲ 12.7%15.5above the sector's middle half▲ 25.0%15.6above the sector's middle half-0below the sector's middle half▼ 100%0within the sector's middle half
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.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9,488 after a loss of €6,455 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.2m ▼ 2.4%
Current assets
€86,108 ▼ 23.9%
Equity and liabilities €1.2m
Equity
€659,794 ▼ 2.1%
Debt
€587,340 ▼ 6.6%
Debt's share of the balance-sheet total falls from 48.3% to 47.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€52,099▲
2024 · €33,249
Cash flow
€28,618▲
2024 · €7,129
Debt to equity
0.89▼
2024 · 0.93
ROE
-2.1%▲
2024 · -4.8%
Interest coverage
2.22▲
2024 · 1.27
Debt ≤ 1 year
€44,026▼
2024 · €49,414
Debt > 1 year
€541,825▼
2024 · €577,426
Staff costs
€0▼
2024 · €854
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,612 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 8,612 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 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €709,429 | €869,015 | €854 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,282 | €64,718 | €38,830 | €39,704 | €42,611 | ▲ 7.3% |
| Other operating charges640/8 | - | €3,788 | €168,368 | €3,884 | €4,926 | ▲ 26.8% |
| Non-recurring operating charges66A | - | - | €1,820 | €2,888 | €0 | ▼ 100% |
| Gross operating margin9900 | €604,726 | €952,123 | €1.6m | €40,875 | €57,025 | ▲ 39.5% |
| Operating profit (loss)9901 | €90,510 | €174,188 | €529,181 | -€6,455 | €9,488 | ▲ 247% |
| Financial income75/76B | - | €3,548 | €8,282 | €111 | €0 | ▼ 100% |
| Recurring financial income75 | €1,392 | €3,548 | €8,282 | €111 | €0 | ▼ 100% |
| Financial charges65/66B | - | €7,496 | €13,954 | €26,231 | €23,481 | ▼ 10.5% |
| Recurring financial charges65 | €6,235 | €7,496 | €13,954 | €26,231 | €23,481 | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €85,668 | €170,240 | €523,510 | -€32,574 | -€13,993 | ▲ 57.0% |
| Income taxes67/77 | €20,500 | €39,304 | €132,956 | €0 | - | - |
| Profit (loss) for the period9904 | €65,167 | €130,936 | €390,553 | -€32,574 | -€13,993 | ▲ 57.0% |
| Profit (loss) for the period to be appropriated9905 | €65,167 | €130,936 | €390,553 | -€32,574 | -€13,993 | ▲ 57.0% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €589,516 | €686,971 | €1.5m | €1.3m | €1.2m | ▼ 4.3% |
| Fixed assets21/28 | €135,072 | €155,529 | €1.1m | €1.2m | €1.2m | ▼ 2.4% |
| Intangible fixed assets21 | €130 | €987 | €0 | - | - | - |
| Tangible fixed assets22/27 | €134,642 | €154,243 | €1.1m | €1.2m | €1.2m | ▼ 2.4% |
| Land and buildings22 | - | - | €1.1m | €1.2m | €1.2m | ▼ 2.0% |
| Plant, machinery and equipment23 | - | €41,124 | €0 | - | - | - |
| Furniture and vehicles24 | - | €31,494 | €0 | - | - | - |
| Leasing and similar rights25 | - | €21,377 | €0 | - | - | - |
| Other tangible fixed assets26 | - | €60,249 | €0 | - | - | - |
| Assets under construction and advance payments27 | - | - | - | €4,500 | €0 | ▼ 100% |
| Financial fixed assets28 | €300 | €300 | €0 | - | - | - |
| Current assets29/58 | €454,444 | €531,442 | €332,922 | €113,081 | €86,108 | ▼ 23.9% |
| Stocks and contracts in progress3 | €25,425 | €48,630 | €0 | - | - | - |
| Stocks30/36 | - | €48,630 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €234,877 | €209,469 | €43,457 | €2,896 | €2,879 | ▼ 0.6% |
| Trade receivables40 | - | €170,595 | €0 | €17 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €38,874 | €43,457 | €2,879 | €2,879 | = |
| Cash at bank and in hand54/58 | €185,300 | €264,625 | €287,620 | €107,987 | €80,296 | ▼ 25.6% |
| Deferred charges and accrued income490/1 | - | €8,719 | €1,846 | €2,197 | €2,933 | ▲ 33.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €589,516 | €686,971 | €1.5m | €1.3m | €1.2m | ▼ 4.3% |
| Equity10/15 | €243,972 | €363,908 | €706,361 | €673,787 | €659,794 | ▼ 2.1% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €160,190 | €149,190 | €104,590 | €104,590 | €104,590 | = |
| Non-distributable reserves130/1 | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | €147,330 | €104,590 | €104,590 | €104,590 | = |
| Profit (loss) carried forward14 | €65,182 | €196,118 | €583,171 | €550,597 | €536,604 | ▼ 2.5% |
| Amounts payable17/49 | €345,544 | €323,063 | €765,340 | €628,833 | €587,340 | ▼ 6.6% |
| Amounts payable after more than one year17 | €105,458 | €104,452 | €611,700 | €577,426 | €541,825 | ▼ 6.2% |
| Financial debts170/4 | - | €104,452 | €611,700 | €577,426 | €541,825 | ▼ 6.2% |
| Amounts payable within one year42/48 | €240,086 | €218,611 | €153,640 | €49,414 | €44,026 | ▼ 10.9% |
| Current portion of amounts payable after more than one year42 | - | €56,379 | €100,101 | €34,274 | €35,601 | ▲ 3.9% |
| Financial debts43 | - | €15,119 | €0 | - | - | - |
| Credit institutions430/8 | - | €15,119 | €0 | - | - | - |
| Trade debts44 | €113,942 | €89,858 | €14,511 | €14,089 | €6,504 | ▼ 53.8% |
| Suppliers440/4 | - | €89,858 | €14,511 | €14,089 | €6,504 | ▼ 53.8% |
| Taxes, remuneration and social security45 | - | €57,255 | €30,897 | €0 | - | - |
| Taxes450/3 | - | - | €3,697 | €0 | - | - |
| Remuneration and social security454/9 | - | €57,255 | €27,200 | €0 | - | - |
| Other amounts payable47/48 | - | - | €8,131 | €1,050 | €1,921 | ▲ 83.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,993 | €1,489 | ▼ 25.3% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,167 | €130,936 | €390,553 | -€32,574 | -€13,993 | ▲ 57.0% |
| + Depreciation and write-downs630 | €59,282 | €64,718 | €38,830 | €39,704 | €42,611 | ▲ 7.3% |
| Operating cash flow (approximation) | €124,449 | €195,654 | €429,383 | €7,129 | €28,618 | ▲ 301% |
| Investment in fixed assets (approximation) | - | -€85,175 | - | -€90,464 | -€14,098 | ▲ 84.4% |
| Change in cash | - | €79,324 | - | -€179,632 | -€27,692 | ▲ 84.6% |
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
18-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-11
Financial
Weakest financial yearnet -€32,574
Net result drops to -€32,574, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-11
Financial
Highest result since 2018net €390,553 ▲198%
Operating result €529,181, net result €390,553, both a record.
30-11
Financial
Equity above €500,000Eq €706,361 ▲94.1%
5 profitable years in a row build equity to €706,361.
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 24 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-12
Financial
Equity above €200,000Eq €243,972 ▲36.4%
3 profitable years in a row build equity to €243,972.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-12
Financial
Equity above €150,000Eq €178,805 ▲45.8%
2 profitable years in a row build equity to €178,805.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
Show earlier events
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
19-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 19 days late
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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Chaumont-Gistoux · 1 establishment unit since 2002
Ground area
1,918 m²
Building footprint
94 m²
Parcel 25021D0198/00R000, Wallonia. Linked by address, not a title deed.
1 establishment unit
ELMA IMMO
since 20022.114.158.649
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25021D0198/00R000 | Wallonia | 1,918 m² | 1 · 94 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 11,749 companies in this sector we hold annual accounts for 6,910. 4,265 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded11-09-2002
Fiscal year end30-11
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478300169
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.