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FIMAVE

Judicial reorganisation
Public limited companyfounded 1994active for 32 yearsBossuitstraat 72, 1750 Lennik, BelgiumKBO/BCE: BE 0451.839.262

Financials · financial year 2025, full format, standalone accounts

2025 annual accounts filed 62 days after the deadline Filed on 1 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00549169.

Annual accounts 2025 filed on 01-10-2026 at the NBB all 35 filings

Turnover
€472,983▼ 3.7%
2022 · €491,359
EBIT margin
-45.4%▲ 108.2pp
2022 · -153.5%
Net result
-€150,793
2024 · €130.9m
Working capital
€13.2m▼ 40.4%
2024 · €22.1m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a loss of €399,024, after a profit of €129.6m in 2024.

Turnover€0.5m 2023 Operating result-€0.4m 2025 Net result-€0.2m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€0.7m€0.5m▼ 23.5%€0.5m▼ 10.1%€0.5m▼ 3.7%
Operating result-€0.3m--€0.3m▲ 8.7%-€0.09m▲ 65.0%€2.1m-€0.8m-€0.2m▲ 71.6%€129.6m-€0.4m
Net result-€13.0m--€19.5m▼ 49.6%-€54.1mbelow the sector's middle half▼ 178%-€19.6mbelow the sector's middle half▲ 63.8%-€24.7mbelow the sector's middle half▼ 26.1%-€35.1mbelow the sector's middle half▼ 42.3%€130.9mabove the sector's middle half-€0.2mbelow the sector's middle half
EBIT margin-12.5%383.7%▲ 396.2pp-153.5%▼ 537.2pp-45.4%▲ 108.2pp
Equity€54.6m-€35.1m▼ 35.6%-€19.0mbelow the sector's middle half-€38.6mbelow the sector's middle half▼ 103%-€63.2mbelow the sector's middle half▼ 64.0%-€98.3mbelow the sector's middle half▼ 55.5%€27.8mabove the sector's middle half€18.7mabove the sector's middle half▼ 32.9%
Total assets€255.0m-€251.5m▼ 1.4%€216.6mabove the sector's middle half▼ 13.9%€213.4mabove the sector's middle half▼ 1.5%€212.4mabove the sector's middle half▼ 0.5%€211.5mabove the sector's middle half▼ 0.4%€32.8mabove the sector's middle half▼ 84.5%€18.8mabove the sector's middle half▼ 42.7%
Debt€200.4m-€216.4m▲ 7.9%€235.6m▲ 8.9%€252.0m▲ 7.0%€275.6m▲ 9.4%€309.9m▲ 12.4%€5.0m▼ 98.4%€0.1m▼ 97.0%
Working capital-€189.3m-€3.5m-€229.4mbelow the sector's middle half-€246.0mbelow the sector's middle half▼ 7.2%-€270.3mbelow the sector's middle half▼ 9.9%-€305.1mbelow the sector's middle half▼ 12.9%€22.1mabove the sector's middle half€13.2mabove the sector's middle half▼ 40.4%
Solvency21.4%-14.0%▼ 7.4pp-8.8%below the sector's middle half▼ 22.7pp-18.1%below the sector's middle half▼ 9.3pp-29.8%below the sector's middle half▼ 11.7pp-46.5%below the sector's middle half▼ 16.7pp84.8%above the sector's middle half▲ 131.3pp99.2%above the sector's middle half▲ 14.4pp
Current ratio0.04-2.26▲ 2.230.03below the sector's middle half▼ 2.240.02below the sector's middle half=0.02below the sector's middle half=0.01below the sector's middle half=5.43above the sector's middle half▲ 5.4189.21above the sector's middle half▲ 83.78
Return on assets (ROA)-5.1%--7.7%▼ 2.6pp-25.0%below the sector's middle half▼ 17.3pp-9.2%below the sector's middle half▲ 15.8pp-11.6%below the sector's middle half▼ 2.4pp-16.6%below the sector's middle half▼ 5.0pp399.3%above the sector's middle half▲ 415.9pp-0.8%within the sector's middle half▼ 400.1pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.8m
Fixed assets €5.5m ▼ 3.8%
Current assets €13.3m ▼ 50.9%
Equity and liabilities €18.8m
Equity €18.7m ▼ 32.9%
Debt €149,178 ▼ 97.0%
Debt's share of the balance-sheet total falls from 15.2% to 0.8%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€153,901▼
2024 · €129.9m
Cash flow
€94,330▼
2024 · €131.2m
Debt to equity
0.01▼
2024 · 0.18
ROE
-0.8%▼
2024 · 471.0%
Interest coverage
-208.60▼
2024 · 32.22
Debt ≤ 1 year
€149,178▼
2024 · €5.0m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as FIMAVE: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €13m and €36m, founded between 1989 and 2007.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
FIMAVE Lennik1994€18.8m€18.7m-€0.1m-€0.2m02025
BEUKENLAAN Knokke-Heist1989€18.2m€18.1m-€0.1m€0.1m02025
CELLAS INVEST Schilde1993€24.9m€18.1m-€0.002m€1.0m02025
JCX IMMO Oudergem1994€13.2m€0.5m-€0.2m-€1.8m0.12025
Berkley Real Estate Antwerpen2000€25.7m€6.6m-€0.1m-€1.8m02025
YR-Invest Aalst2007€14.9m€14.8m-€0.009m-€1.0m02025
BRUCHO Geel2001€36.3m€31.6m-€0.1m-€0.02m02025

They were chosen from the 7,230 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 56 lines

Source: Annual accounts 2025 at the NBB, filed on 01-10-2026.

Balance sheet Code20242025
Assets
Total assets20/58€32.8m€18.8m▼
Fixed assets21/28€5.7m€5.5m▼
Tangible fixed assets22/27€5.7m€5.5m▼
Land and buildings22€5.7m€5.5m▼
Plant, machinery and equipment23€0.003m€0.002m▼
Financial fixed assets28€0.01m€0.01m=
Current assets29/58€27.1m€13.3m▼
Amounts receivable after more than one year29€11.1m€5.7m▼
Trade receivables290€11.1m€5.7m▼
Amounts receivable within one year40/41€7.9m€4.6m▼
Trade receivables40€0.7m€0.8m▲
Other amounts receivable41€7.2m€3.8m▼
Current investments50/53€7.7m€0▼
Cash at bank and in hand54/58€0.4m€3.0m▲
Deferred charges and accrued income490/1€0.007m€0.01m▲
Equity and liabilities
Total equity and liabilities10/49€32.8m€18.8m▼
Equity10/15€27.8m€18.7m▼
Contributions10/11€14.9m€9.9m▼
Capital10€14.9m€9.9m▼
Issued capital100€14.9m€9.9m▼
Contributions outside capital11€314€314=
Share premium1100/10€314€314=
Reserves13€0.9m€0.9m=
Non-distributable reserves130/1€0.9m€0.9m=
Legal reserve130€0.9m€0.9m=
Profit (loss) carried forward14€12.0m€7.8m▼
Amounts payable17/49€5.0m€0.1m▼
Amounts payable within one year42/48€5.0m€0.1m▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€0.2m€0.1m▼
Suppliers440/4€0.2m€0.1m▼
Taxes, remuneration and social security45€0.02m€0.02m▲
Taxes450/3€0.02m€0.02m▲
Other amounts payable47/48€4.8m€0▼
Accrued charges and deferred income492/3€0-
Income statement Code20242025
Non-recurring operating income76A€131.9m€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.2m=
Other operating charges640/8€0.04m€0.04m▼
Gross operating margin9900€129.9m-€0.1m▼
Operating profit (loss)9901€129.6m-€0.4m▼
Financial income75/76B€5.3m€0.2m▼
Recurring financial income75€0.4m€0.2m▼
Non-recurring financial income76B€5.0m€0▼
Financial charges65/66B€4.0m€0.001m▼
Recurring financial charges65€4.0m€0.001m▼
Profit (loss) for the period before taxes9903€130.9m-€0.2m▼
Profit (loss) for the period9904€130.9m-€0.2m▼
Profit (loss) for the period to be appropriated9905€130.9m-€0.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€17.7m€7.8m▼
Profit (loss) brought forward from the previous period14P-€113.2m€8.0m▲
Transfer from equity791/2-€4.0m
Transfer to equity691/2€0.9m€0▼
To the legal reserve6920€0.9m€0▼
Profit to be distributed694/7€4.8m€4.0m▼
Return on contributions (dividend)694€4.8m€4.0m▼
Social balance sheet
Average headcount (FTE)90870.00.0=

The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Operating income70/76A---€2.9m€0.5m€0.5m---
Turnover70--€0.7m€0.5m€0.5m€0.5m---
Other operating income74---€0.01m€292€0.002m---
Non-recurring operating income76A---€2.4m€0.001m-€131.9m€0▼ 100%
Operating charges60/66A---€0.8m€1.2m€0.7m---
Services and other goods61---€0.5m€0.9m€0.4m---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.4m€0.4m€0.4m€0.3m€0.3m€0.3m€0.2m€0.2m=
Other operating charges640/8---€0.04m€0.03m€0.03m€0.04m€0.04m▼ 1.4%
Gross operating margin9900€0.2m€0.2m----€129.9m-€0.1m-
Operating profit (loss)9901-€0.3m-€0.3m-€0.09m€2.1m-€0.8m-€0.2m€129.6m-€0.4m-
Financial income75/76B---€0.05m€0.06m€0.06m€5.3m€0.2m▼ 95.3%
Recurring financial income75€0.4m€0.005m€0.02m€0.05m€0.06m€0.06m€0.4m€0.2m▼ 34.5%
Income from current assets751---€0.05m€0.06m€0.06m---
Non-recurring financial income76B------€5.0m€0▼ 100%
Financial charges65/66B---€21.7m€24.0m€35.0m€4.0m€0.001m▼ 100.0%
Recurring financial charges65€13.2m€20.4m€19.8m€21.7m€24.0m€35.0m€4.0m€0.001m▼ 100.0%
Debt charges650--€19.8m€21.7m€23.9m€34.9m---
Other financial charges652/9---€0.05m€0.1m€0.05m---
Non-recurring financial charges66B---€1-----
Profit (loss) for the period before taxes9903-€13.0m-€19.5m-€54.1m-€19.6m-€24.7m-€35.1m€130.9m-€0.2m-
Income taxes67/77-€0.02m--------
Profit (loss) for the period9904-€13.0m-€19.5m-€54.1m-€19.6m-€24.7m-€35.1m€130.9m-€0.2m-
Transfer from tax-exempt reserves789---€0.2m-----
Profit (loss) for the period to be appropriated9905-€13.0m-€19.5m-€54.1m-€19.4m-€24.7m-€35.1m€130.9m-€0.2m-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€255.0m€251.5m€216.6m€213.4m€212.4m€211.5m€32.8m€18.8m▼ 42.7%
Fixed assets21/28€248.1m€245.1m€210.4m€207.4m€207.2m€206.9m€5.7m€5.5m▼ 3.8%
Tangible fixed assets22/27€10.3m€9.9m€9.5m€6.5m€6.2m€5.9m€5.7m€5.5m▼ 3.8%
Land and buildings22---€6.4m€6.2m€5.9m€5.7m€5.5m▼ 3.8%
Plant, machinery and equipment23---€0.04m€0.02m€0.003m€0.003m€0.002m▼ 20.4%
Financial fixed assets28€237.8m€235.2m€201.0m€201.0m€201.0m€201.0m€0.01m€0.01m=
Affiliated companies280/1---€201.0m€201.0m€201.0m---
Participating interests280---€201.0m€201.0m€201.0m---
Other financial fixed assets284/8---€150-----
Amounts receivable and cash guarantees285/8---€150-----
Current assets29/58€6.9m€6.4m€6.2m€6.0m€5.2m€4.6m€27.1m€13.3m▼ 50.9%
Amounts receivable after more than one year29---€5.1m€4.6m€4.0m€11.1m€5.7m▼ 48.3%
Trade receivables290---€5.1m€4.6m€4.0m€11.1m€5.7m▼ 48.3%
Amounts receivable within one year40/41€1.0m€0.5m€1.1m€0.6m€0.6m€0.7m€7.9m€4.6m▼ 42.0%
Trade receivables40---€0.6m€0.6m€0.7m€0.7m€0.8m▲ 7.5%
Other amounts receivable41------€7.2m€3.8m▼ 46.9%
Current investments50/53---€0.1m€0.05m-€7.7m€0▼ 100%
Other investments51/53---€0.1m€0.05m----
Cash at bank and in hand54/58€0.1m€0.5m€0.2m€0.1m€0.03m€0.006m€0.4m€3.0m▲ 623%
Deferred charges and accrued income490/1---€0.06m€0.002m€0.002m€0.007m€0.01m▲ 44.6%
Equity and liabilities
Total equity and liabilities10/49€255.0m€251.5m€216.6m€213.4m€212.4m€211.5m€32.8m€18.8m▼ 42.7%
Equity10/15€54.6m€35.1m-€19.0m-€38.6m-€63.2m-€98.3m€27.8m€18.7m▼ 32.9%
Contributions10/11€14.9m€14.9m€14.9m€14.9m€14.9m€14.9m€14.9m€9.9m▼ 33.4%
Capital10---€14.9m€14.9m€14.9m€14.9m€9.9m▼ 33.4%
Issued capital100---€14.9m€14.9m€14.9m€14.9m€9.9m▼ 33.4%
Contributions outside capital11---€314€314€314€314€314=
Share premium1100/10---€314€314€314€314€314=
Reserves13€2.2m€2.2m€2.2m---€0.9m€0.9m=
Non-distributable reserves130/1------€0.9m€0.9m=
Legal reserve130------€0.9m€0.9m=
Profit (loss) carried forward14€37.5m€18.0m-€36.1m-€53.5m-€78.1m-€113.2m€12.0m€7.8m▼ 34.7%
Amounts payable17/49€200.4m€216.4m€235.6m€252.0m€275.6m€309.9m€5.0m€0.1m▼ 97.0%
Amounts payable after more than one year17€2.4m€213.5m€0.006m------
Amounts payable within one year42/48€196.3m€2.8m€235.6m€252.0m€275.5m€309.8m€5.0m€0.1m▼ 97.0%
Current portion of amounts payable after more than one year42---€248.8m€271.7m€305.7m€0--
Trade debts44€0.3m€0.3m€0.1m€0.2m€0.4m€0.4m€0.2m€0.1m▼ 29.2%
Suppliers440/4---€0.2m€0.4m€0.4m€0.2m€0.1m▼ 29.2%
Taxes, remuneration and social security45---€0.02m€0.02m€0.02m€0.02m€0.02m▲ 34.8%
Taxes450/3---€0.02m€0.02m€0.02m€0.02m€0.02m▲ 34.8%
Other amounts payable47/48---€2.9m€3.4m€3.6m€4.8m€0▼ 100%
Accrued charges and deferred income492/3----€0.09m€0.09m€0--
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€13.0m-€19.5m-€54.1m-€19.6m-€24.7m-€35.1m€130.9m-€0.2m-
+ Depreciation and write-downs630€0.4m€0.4m€0.4m€0.3m€0.3m€0.3m€0.2m€0.2m=
Operating cash flow (approximation)-€12.6m-€19.1m-€53.8m-€19.3m-€24.4m-€34.8m€131.2m€0.09m▼ 99.9%
Investment in fixed assets (approximation)-€2.6m€34.3m€2.7m€150€0€200.9m-€0.03m-
Change in cash-€0.4m-€0.3m-€0.1m-€0.1m-€0.02m€0.4m€2.6m▲ 532%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 35 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 01-10-2026 2026-00549169 NBB
31-12-2024 abbreviated format 10-06-2025 2025-00132240 PDF
31-12-2023 full format 02-07-2024 2024-00204169 PDF
31-12-2023 consolidated 02-07-2024 2024-00223022 PDF
31-12-2022 consolidated 20-09-2023 2023-00453284 PDF
31-12-2022 full format 03-07-2023 2023-00205845 PDF
31-12-2021 consolidated 17-08-2022 2022-20295191 PDF
31-12-2021 full format 30-05-2022 2022-20044499 PDF
31-12-2020 full format 30-07-2021 2021-44300572 PDF
31-12-2019 abbreviated format 09-07-2020 2020-29400332 PDF

Show all 35 filings