EURECA Immo
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-05-2026 PDF all 9 filings
Turnover
≈ €91,000
Estimated: probably between €50,000 and €190,000
Total assets
€921,484▼ 1.7%
2024 · €937,136
Net result
-€16,771▼ 15.1%
2024 · -€14,573
Working capital
-€594,674▼ 0.4%
2024 · -€592,029
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€265
2025
20182025
Net result
-€16,771
▼ 15.1%
2025
lowest quarter of the sector
20182025
Equity
€250,146
▼ 6.3%
2025
middle half of the sector
20182025
Total assets
€921,484
▼ 1.7%
2025
middle half of the sector
20182025
Debt
€671,338
▲ 0.2%
2025
20182025
Working capital
-€594,674
▼ 0.4%
2025
lowest quarter of the sector
20182025
Solvency
27.1%
▼ 1.3pp
2025
middle half of the sector
20182025
Current ratio
0.11
▲ 0.02
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-1.8%
▼ 0.3pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€247,756-€86,920▼ 64.9%€26,647▼ 69.3%-€8,793€7,539€16,412▲ 118%€704▼ 95.7%-€265
Net result€149,285-€63,047▼ 57.8%€19,614within the sector's middle half▼ 68.9%-€11,086below the sector's middle half-€5,099within the sector's middle half▲ 54.0%€1,712within the sector's middle half-€14,573below the sector's middle half-€16,771below the sector's middle half▼ 15.1%
Equity€313,301-€376,348▲ 20.1%€395,962above the sector's middle half▲ 5.2%€384,876above the sector's middle half▼ 2.8%€379,778above the sector's middle half▼ 1.3%€381,490above the sector's middle half▲ 0.5%€266,917within the sector's middle half▼ 30.0%€250,146within the sector's middle half▼ 6.3%
Total assets€752,364-€410,042▼ 45.5%€409,374within the sector's middle half▼ 0.2%€899,918within the sector's middle half▲ 120%€953,580within the sector's middle half▲ 6.0%€964,225within the sector's middle half▲ 1.1%€937,136within the sector's middle half▼ 2.8%€921,484within the sector's middle half▼ 1.7%
Debt€439,063-€33,694▼ 92.3%€13,412▼ 60.2%€515,042▲ 38×€573,803▲ 11.4%€582,735▲ 1.6%€670,219▲ 15.0%€671,338▲ 0.2%
Working capital€349,105-€173,087▼ 50.4%€197,386above the sector's middle half▲ 14.0%-€345,126below the sector's middle half-€502,613below the sector's middle half▼ 45.6%-€506,120below the sector's middle half▼ 0.7%-€592,029below the sector's middle half▼ 17.0%-€594,674below the sector's middle half▼ 0.4%
Solvency41.6%-91.8%▲ 50.1pp96.7%above the sector's middle half▲ 4.9pp42.8%within the sector's middle half▼ 54.0pp39.8%within the sector's middle half▼ 2.9pp39.6%within the sector's middle half▼ 0.3pp28.5%within the sector's middle half▼ 11.1pp27.1%within the sector's middle half▼ 1.3pp
Current ratio1.87-6.14▲ 4.2715.72above the sector's middle half▲ 9.580.33below the sector's middle half▼ 15.390.10below the sector's middle half▼ 0.230.11below the sector's middle half=0.10below the sector's middle half▼ 0.010.11below the sector's middle half▲ 0.02
Return on assets (ROA)19.8%-15.4%▼ 4.5pp4.8%within the sector's middle half▼ 10.6pp-1.2%within the sector's middle half▼ 6.0pp-0.5%within the sector's middle half▲ 0.7pp0.2%within the sector's middle half▲ 0.7pp-1.6%within the sector's middle half▼ 1.7pp-1.8%within the sector's middle half▼ 0.3pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €265, after a profit of €704 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €921,484
Fixed assets
€844,819 ▼ 3.4%
Current assets
€76,664 ▲ 21.7%
Equity and liabilities €921,484
Equity
€250,146 ▼ 6.3%
Debt
€671,338 ▲ 0.2%
Debt's share of the balance-sheet total rises from 71.5% to 72.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€29,061▼
2024 · €30,244
Cash flow
€12,555▼
2024 · €14,967
Debt to equity
2.68▲
2024 · 2.51
ROE
-6.7%▼
2024 · -5.5%
Interest coverage
1.76▼
2024 · 1.98
Debt ≤ 1 year
€671,338▲
2024 · €655,019
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €548,235 | €186,964 | €52,909 | - | - |
| Financial fixed assets | €213 | - | - | - | - |
| Depreciation and write-downs of the year | €17,022 | €21,669 | €31,141 | €29,540 | €29,326 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €914 | €9,551 | €9,231 | €17,022 | €21,669 | €31,141 | €29,540 | €29,326 | ▼ 0.7% |
| Other operating charges640/8 | - | - | - | €1,549 | €2,378 | €4,628 | €4,578 | €4,251 | ▼ 7.2% |
| Gross operating margin9900 | €248,740 | €96,471 | €37,517 | €9,778 | €31,586 | €52,181 | €34,822 | €33,312 | ▼ 4.3% |
| Operating profit (loss)9901 | €247,756 | €86,920 | €26,647 | -€8,793 | €7,539 | €16,412 | €704 | -€265 | - |
| Financial income75/76B | - | - | - | - | €495 | €10 | €0 | - | - |
| Recurring financial income75 | €2,910 | €1,041 | €6 | - | €495 | €10 | €0 | - | - |
| Financial charges65/66B | - | - | - | €200 | €13,133 | €14,709 | €15,277 | €16,506 | ▲ 8.0% |
| Recurring financial charges65 | €36,029 | €279 | €366 | €200 | €13,133 | €14,709 | €15,277 | €16,506 | ▲ 8.0% |
| Profit (loss) for the period before taxes9903 | €214,637 | €87,681 | €26,288 | -€8,993 | -€5,099 | €1,712 | -€14,573 | -€16,771 | ▼ 15.1% |
| Income taxes67/77 | €65,352 | €24,635 | €6,674 | €2,092 | - | - | - | - | - |
| Profit (loss) for the period9904 | €149,285 | €63,047 | €19,614 | -€11,086 | -€5,099 | €1,712 | -€14,573 | -€16,771 | ▼ 15.1% |
| Profit (loss) for the period to be appropriated9905 | €149,285 | €63,047 | €19,614 | -€11,086 | -€5,099 | €1,712 | -€14,573 | -€16,771 | ▼ 15.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €752,364 | €410,042 | €409,374 | €899,918 | €953,580 | €964,225 | €937,136 | €921,484 | ▼ 1.7% |
| Formation expenses20 | €518 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €437 | €203,261 | €198,576 | €730,002 | €895,298 | €903,685 | €874,145 | €844,819 | ▼ 3.4% |
| Tangible fixed assets22/27 | €396 | €203,220 | €198,556 | €729,769 | €895,065 | €903,452 | €873,912 | €844,586 | ▼ 3.4% |
| Land and buildings22 | - | - | - | €520,264 | €672,126 | €889,581 | €861,789 | €833,997 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | - | €8,371 | €3,586 | €13,871 | €12,123 | €10,589 | ▼ 12.7% |
| Furniture and vehicles24 | - | - | - | €62 | €122 | - | - | - | - |
| Assets under construction and advance payments27 | - | - | - | €201,073 | €219,230 | - | - | - | - |
| Financial fixed assets28 | €41 | €41 | €20 | €233 | €233 | €233 | €233 | €233 | = |
| Current assets29/58 | €751,408 | €206,781 | €210,798 | €169,915 | €58,283 | €60,539 | €62,991 | €76,664 | ▲ 21.7% |
| Stocks and contracts in progress3 | €592,872 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €22,908 | €38,638 | €1,953 | €13,412 | €29,022 | €27,274 | €8,200 | €1,212 | ▼ 85.2% |
| Trade receivables40 | - | - | - | €8,564 | €27,854 | €26,449 | €8,200 | €1,212 | ▼ 85.2% |
| Other amounts receivable41 | - | - | - | €4,849 | €1,168 | €825 | - | - | - |
| Cash at bank and in hand54/58 | €135,628 | €168,143 | €208,061 | €156,084 | €28,845 | €29,822 | €51,447 | €75,011 | ▲ 45.8% |
| Deferred charges and accrued income490/1 | - | - | - | €419 | €416 | €3,444 | €3,344 | €441 | ▼ 86.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €752,364 | €410,042 | €409,374 | €899,918 | €953,580 | €964,225 | €937,136 | €921,484 | ▼ 1.7% |
| Equity10/15 | €313,301 | €376,348 | €395,962 | €384,876 | €379,778 | €381,490 | €266,917 | €250,146 | ▼ 6.3% |
| Contributions10/11 | €160,000 | €160,000 | €160,000 | €160,000 | €160,000 | €160,000 | €160,000 | €160,000 | = |
| Capital10 | - | - | - | €160,000 | - | - | - | - | - |
| Issued capital100 | - | - | - | €160,000 | - | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | €160,000 | - | - | - | - |
| Share premium1100/10 | - | - | - | - | €160,000 | - | - | - | - |
| Reserves13 | €102,665 | €162,665 | €177,665 | €177,665 | €177,665 | €177,665 | €77,665 | €77,665 | = |
| Non-distributable reserves130/1 | - | - | - | €2,665 | €2,665 | €2,665 | €2,665 | €2,665 | = |
| Legal reserve130 | - | - | - | €2,665 | €2,665 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €2,665 | €2,665 | €2,665 | = |
| Distributable reserves133 | - | - | - | €175,000 | €175,000 | €175,000 | €75,000 | €75,000 | = |
| Profit (loss) carried forward14 | €50,636 | €53,683 | €58,297 | €47,211 | €42,112 | €43,825 | €29,252 | €12,481 | ▼ 57.3% |
| Amounts payable17/49 | €439,063 | €33,694 | €13,412 | €515,042 | €573,803 | €582,735 | €670,219 | €671,338 | ▲ 0.2% |
| Amounts payable after more than one year17 | €23,338 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €402,303 | €33,694 | €13,412 | €515,042 | €560,895 | €566,660 | €655,019 | €671,338 | ▲ 2.5% |
| Trade debts44 | €34,503 | €13,464 | €1,982 | €14,367 | €895 | €3,388 | €961 | €2,149 | ▲ 124% |
| Suppliers440/4 | - | - | - | €14,367 | €895 | €3,388 | €961 | €2,149 | ▲ 124% |
| Taxes, remuneration and social security45 | - | - | - | €674 | - | €3,272 | - | - | - |
| Taxes450/3 | - | - | - | €674 | - | €3,272 | - | - | - |
| Other amounts payable47/48 | - | - | - | €500,000 | €560,000 | €560,000 | €654,058 | €669,189 | ▲ 2.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €12,907 | €16,075 | €15,200 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €149,285 | €63,047 | €19,614 | -€11,086 | -€5,099 | €1,712 | -€14,573 | -€16,771 | ▼ 15.1% |
| + Depreciation and write-downs630 | €914 | €9,551 | €9,231 | €17,022 | €21,669 | €31,141 | €29,540 | €29,326 | ▼ 0.7% |
| Operating cash flow (approximation) | €150,199 | €72,597 | €28,844 | €5,936 | €16,570 | €32,854 | €14,967 | €12,555 | ▼ 16.1% |
| Investment in fixed assets (approximation) | - | -€212,374 | -€4,546 | -€548,448 | -€186,964 | -€39,529 | €0 | €0 | - |
| Change in cash | - | €32,515 | €39,919 | -€51,977 | -€127,239 | €977 | €21,625 | €23,565 | ▲ 9.0% |
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, 1,423 companies had the same profile as EURECA Immo has now. Two years later, 96.5% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
96.5%
was still going
2.2%
stopped otherwise
1.0%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EURECA Immo 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 1,423 companies, not a prediction for EURECA Immo. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-05-2026 | 2026-00123416 | |
| 31-12-2024 | micro format | 12-08-2025 | 2025-00383193 | |
| 31-12-2023 | micro format | 27-09-2024 | 2024-00474727 | |
| 31-12-2022 | micro format | 26-09-2023 | 2023-00453651 | |
| 31-12-2021 | micro format | 19-09-2022 | 2022-20430960 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-58000499 | |
| 31-12-2019 | micro format | 12-08-2020 | 2020-40400322 | |
| 31-12-2018 | micro format | 06-09-2019 | 2019-63200476 | |
| 31-12-2017 | micro format | 21-11-2018 | 2018-72500266 |