GERMIM
InactiveInactive; last annual accounts for fiscal year 2024.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-08-2025, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
12 d late
2023
30 d late
2022
168 d late
2021
12 d late
2020
30 d late
2019
39 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 49 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€10.5m▲ 81.0%
2023 · €5.8m
Total assets
€13.2m▼ 11.8%
2023 · €14.9m
Net result
€1.2m
2023 · -€233,405
Working capital
€8.3m
2023 · -€3.9m
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
Line20202021202220232024
Operating result-€80,083€5.9m-€86,346€99,798€869,882▲ 772%
Net result€707,180▲ 1,402%€4.4m▲ 521%-€220,431-€233,405▼ 5.9%€1.2m
Equity€1.9m▲ 60.4%€6.3m▲ 234%€6.0m▼ 3.5%€5.8m▼ 3.9%€10.5m▲ 81.0%
Total assets€3.5m▲ 53.1%€17.2m▲ 392%€16.5m▼ 4.3%€14.9m▼ 9.4%€13.2m▼ 11.8%
Debt€1.6m▲ 45.4%€9.4m▲ 481%€8.9m▼ 5.5%€7.7m▼ 13.5%€1.2m▼ 84.1%
Working capital€2.0m▲ 3,427%-€3.9m-€3.5m▲ 10.7%-€3.9m▼ 12.6%€8.3m
Staff (FTE)0.7=00
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2021 Net result +521% on 2020. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 772% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €13.2m
Fixed assets
€4.5m ▼ 63.1%
Current assets
€8.7m ▲ 220%
Equity and liabilities €13.2m
Equity
€10.5m ▲ 81.0%
Provisions
€1.4m =
Debt
€1.2m ▼ 84.1%
Debt's share of the balance-sheet total falls from 51.6% to 9.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€927,423▲
2023 · €165,413
Cash flow
€1.3m▲
2023 · -€167,790
Current ratio
25.07▲
2023 · 0.41
Debt to equity
0.12▼
2023 · 1.32
ROE
11.8%▲
2023 · -4.0%
ROA
9.4%▲
2023 · -1.6%
Interest coverage
8.25▲
2023 · 0.48
Debt ≤ 1 year
€345,217▼
2023 · €6.6m
Debt > 1 year
€881,271▼
2023 · €1.0m
Income taxes
€7,995▼
2023 · €102,769
Staff costs
€0▼
2023 · €698
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €6.2m | €0 | - | €853,296 | - |
| Remuneration, social security and pensions62 | - | €2,466 | €0 | €698 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €112,812 | €68,416 | €59,496 | €65,615 | €57,541 | ▼ 12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €19,907 | €18,178 | €3,161 | €15,471 | ▲ 389% |
| Gross operating margin9900 | €88,982 | €6.0m | -€8,673 | €169,271 | €942,894 | ▲ 457% |
| Operating profit (loss)9901 | -€80,083 | €5.9m | -€86,346 | €99,798 | €869,882 | ▲ 772% |
| Financial income75/76B | - | €16,139 | €65,648 | €68 | €491,132 | ▲ 723,004% |
| Recurring financial income75 | €833,339 | €16,139 | €65,648 | €68 | €9,520 | ▲ 13,917% |
| Non-recurring financial income76B | - | - | - | - | €481,612 | - |
| Financial charges65/66B | - | €50,231 | €199,733 | €341,937 | €112,403 | ▼ 67.1% |
| Recurring financial charges65 | €49,770 | €50,231 | €199,733 | €341,937 | €112,403 | ▼ 67.1% |
| Profit (loss) for the period before taxes9903 | €703,486 | €5.9m | -€220,431 | -€242,072 | €1.2m | ▲ 616% |
| Transfer from deferred taxes780 | - | - | - | €111,436 | €0 | ▼ 100% |
| Transfer to deferred taxes680 | - | €1.5m | €0 | - | - | - |
| Income taxes67/77 | -€3,694 | €0 | - | €102,769 | €7,995 | ▼ 92.2% |
| Profit (loss) for the period9904 | €707,180 | €4.4m | -€220,431 | -€233,405 | €1.2m | ▲ 632% |
| Transfer from tax-exempt reserves789 | - | - | - | €334,307 | €0 | ▼ 100% |
| Transfer to tax-exempt reserves689 | - | €4.5m | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €707,180 | -€152,957 | -€220,431 | €100,902 | €1.2m | ▲ 1,130% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.5m | €17.2m | €16.5m | €14.9m | €13.2m | ▼ 11.8% |
| Fixed assets21/28 | €619,311 | €12.3m | €12.3m | €12.2m | €4.5m | ▼ 63.1% |
| Tangible fixed assets22/27 | €619,311 | €358,925 | €299,429 | €233,814 | €3.6m | ▲ 1,440% |
| Land and buildings22 | - | €357,786 | €298,711 | €233,518 | €3.6m | ▲ 1,442% |
| Plant, machinery and equipment23 | - | €1,139 | €718 | €296 | €0 | ▼ 100% |
| Financial fixed assets28 | €0 | €12.0m | €12.0m | €12.0m | €901,800 | ▼ 92.5% |
| Current assets29/58 | €2.9m | €4.9m | €4.2m | €2.7m | €8.7m | ▲ 220% |
| Stocks and contracts in progress3 | €1.2m | €1.4m | €2.1m | €0 | - | - |
| Stocks30/36 | - | €1.4m | €2.1m | €0 | - | - |
| Amounts receivable within one year40/41 | €1.7m | €3.3m | €2.0m | €2.3m | €8.6m | ▲ 280% |
| Trade receivables40 | - | €1.6m | €31,743 | €0 | €9,207 | - |
| Other amounts receivable41 | - | €1.7m | €2.0m | €2.3m | €8.6m | ▲ 280% |
| Cash at bank and in hand54/58 | €59,837 | €171,705 | €78,917 | €449,519 | €58,121 | ▼ 87.1% |
| Deferred charges and accrued income490/1 | - | €0 | - | - | €8,031 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.5m | €17.2m | €16.5m | €14.9m | €13.2m | ▼ 11.8% |
| Equity10/15 | €1.9m | €6.3m | €6.0m | €5.8m | €10.5m | ▲ 81.0% |
| Contributions10/11 | €144,389 | €144,389 | €144,389 | €144,389 | €144,389 | = |
| Capital10 | - | €144,389 | €144,389 | €144,389 | €144,389 | = |
| Issued capital100 | - | €144,389 | €144,389 | €144,389 | €144,389 | = |
| Revaluation surpluses12 | - | - | - | - | €3.5m | - |
| Reserves13 | €14,439 | €4.6m | €4.6m | €4.2m | €4.2m | = |
| Non-distributable reserves130/1 | - | €14,439 | €14,439 | €14,439 | €14,439 | = |
| Legal reserve130 | - | €14,439 | €14,439 | €14,439 | €14,439 | = |
| Tax-exempt reserves132 | - | €4.5m | €4.5m | €4.2m | €4.2m | = |
| Profit (loss) carried forward14 | €1.7m | €1.6m | €1.3m | €1.4m | €2.7m | ▲ 85.7% |
| Provisions and deferred taxes16 | - | €1.5m | €1.5m | €1.4m | €1.4m | = |
| Deferred taxes168 | - | €1.5m | €1.5m | €1.4m | €1.4m | = |
| Amounts payable17/49 | €1.6m | €9.4m | €8.9m | €7.7m | €1.2m | ▼ 84.1% |
| Amounts payable after more than one year17 | €744,531 | €629,413 | €1.2m | €1.0m | €881,271 | ▼ 15.8% |
| Financial debts170/4 | - | €626,384 | €1.2m | €1.0m | €875,408 | ▼ 16.1% |
| Other amounts payable178/9 | - | €3,028 | €3,103 | €3,403 | €5,863 | ▲ 72.3% |
| Amounts payable within one year42/48 | €875,751 | €8.8m | €7.7m | €6.6m | €345,217 | ▼ 94.8% |
| Current portion of amounts payable after more than one year42 | - | €116,343 | €185,892 | €162,421 | €168,168 | ▲ 3.5% |
| Financial debts43 | - | €7.5m | €7.2m | €4.7m | €0 | ▼ 100% |
| Credit institutions430/8 | - | €7.5m | €7.2m | €4.7m | €0 | ▼ 100% |
| Trade debts44 | €3,231 | €89,508 | €35,026 | €44,873 | €9,292 | ▼ 79.3% |
| Suppliers440/4 | - | €89,508 | €35,026 | €44,873 | €9,292 | ▼ 79.3% |
| Taxes, remuneration and social security45 | - | €2,589 | €3,757 | €107,779 | €9,758 | ▼ 90.9% |
| Taxes450/3 | - | €2,589 | €3,757 | €107,779 | €9,758 | ▼ 90.9% |
| Remuneration and social security454/9 | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | €1.1m | €292,861 | €1.6m | €158,000 | ▼ 90.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €707,180 | €4.4m | -€220,431 | -€233,405 | €1.2m | ▲ 632% |
| + Depreciation and write-downs630 | €112,812 | €68,416 | €59,496 | €65,615 | €57,541 | ▼ 12.3% |
| Operating cash flow (approximation) | €819,992 | €4.5m | -€160,936 | -€167,790 | €1.3m | ▲ 874% |
| Investment in fixed assets (approximation) | - | -€11.8m | €0 | €0 | €7.6m | - |
| Change in cash | - | €111,868 | -€92,787 | €370,602 | -€391,398 | ▼ 206% |
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
2025
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
31-12
Financial
Back to profitnet €1.2m
Net result €1.2m after 2 loss-making years.
31-12
Financial
Liquidity times 62current ratio 25.07
Current ratio from 0.41 to 25.07; short-term debt falls from €6.6m to €345,217.
31-12
Financial
Equity above €10mEq €10.5m ▲81%
Equity rises from €5.8m to €10.5m.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
15-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 168 days late
2023
31-12
Financial
Weakest financial yearnet -€233,405
Net result drops to -€233,405, the lowest in the series.
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 12 days late
2021
31-12
Financial
Highest result since 2018net €4.4m ▲521%
Operating result €5.9m, net result €4.4m, both a record.
31-12
Financial
Equity above €5mEq €6.3m ▲234%
4 profitable years in a row build equity to €6.3m.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 3.29
Current ratio from 1.22 to 3.29.
Show earlier events
08-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 39 days late
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
28-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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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Structure & network
Owners and holdings
1 owner · 1 holding · 2 subsidiaries in the treeChain of control
- IMMOGERM
- GERMIM
Highest known parent: IMMOGERM. The sources do not say who stands above it.
Owners 1
- IMMOGERMparentSourceaccounts IMMOGERM 2024100%
Holdings 1
-
100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
According to the 2024 annual accounts of GERMIM 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.