IGM Rénovation
ActiveSummary
IGM Rénovation has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20,507 and a net result of €65,231. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 71% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency91▲+91
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 2.77 against 0.3 in 2024; short-term debt: 33.9% and cash: 27.6% of total assets), and 33.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
66.1%
Return on assets
210.3%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
31 d early
2023
35 d early
2022
26 d early
2021
32 d late
2020
22 d early
2019
30 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 13 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 5 July (4 of the last 5 filed years within 50 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€65,231▼ 13.6%
2024 · €75,485
Working capital
€18,581
2024 · -€45,571
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 43, Specialised construction 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
Line20212022202320242025
Operating result-€90,735-€21,625▲ 76.2%€11,942€76,334▲ 539%€69,645▼ 8.8%
Net result-€91,153below the sector's middle half-€22,228below the sector's middle half▲ 75.6%€10,595within the sector's middle half€75,485above the sector's middle half▲ 612%€65,231above the sector's middle half▼ 13.6%
Equity-€108,576below the sector's middle half▼ 523%-€130,804below the sector's middle half▼ 20.5%-€120,209below the sector's middle half▲ 8.1%-€44,724below the sector's middle half▲ 62.8%€20,507within the sector's middle half
Total assets€25,196below the sector's middle half▼ 62.0%€64,778below the sector's middle half▲ 157%€26,678below the sector's middle half▼ 58.8%€20,844below the sector's middle half▼ 21.9%€31,021below the sector's middle half▲ 48.8%
Debt€133,772▲ 59.7%€195,582▲ 46.2%€146,887▼ 24.9%€65,568▼ 55.4%€10,514▼ 84.0%
Working capital-€116,918below the sector's middle half▼ 289%-€136,706below the sector's middle half▼ 16.9%-€122,523below the sector's middle half▲ 10.4%-€45,571below the sector's middle half▲ 62.8%€18,581within the sector's middle half
Solvency-430.9%below the sector's middle half▼ 404.7pp-201.9%below the sector's middle half▲ 229.0pp-450.6%below the sector's middle half▼ 248.7pp-214.6%below the sector's middle half▲ 236.0pp66.1%within the sector's middle half▲ 280.7pp
Current ratio0.13below the sector's middle half▼ 0.520.30below the sector's middle half▲ 0.180.17below the sector's middle half▼ 0.140.30below the sector's middle half▲ 0.142.77within the sector's middle half▲ 2.46
Return on assets (ROA)-361.8%below the sector's middle half▼ 376.2pp-34.3%below the sector's middle half▲ 327.5pp39.7%above the sector's middle half▲ 74.0pp362.1%above the sector's middle half▲ 322.4pp210.3%above the sector's middle half▼ 151.9pp
Staff (FTE)5within the sector's middle half▲ 61.3%5within the sector's middle half=1▼ 80.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31,021
Fixed assets
€1,926 ▲ 127%
Current assets
€29,095 ▲ 45.5%
Equity and liabilities €31,021
Equity
€20,507
Debt
€10,514
Debt finances 33.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€70,311▼
2024 · €76,932
Cash flow
€65,897▼
2024 · €76,083
Debt to equity
0.51▲
2024 · -1.47
ROE
318.1%
Interest coverage
58.58▼
2024 · 90.67
Debt ≤ 1 year
€10,514▼
2024 · €65,568
Income taxes
€3,213
Staff costs
-€7,170▼
2024 · €1,233
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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 34,696 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 | €4 | €8 | €22,271 | €2,562 | €312 | ▼ 87.8% |
| Remuneration, social security and pensions62 | €188,835 | €188,412 | €133,369 | €1,233 | -€7,170 | ▼ 682% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,108 | €4,317 | €3,618 | €598 | €666 | ▲ 11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €7,530 | - | - | - |
| Other operating charges640/8 | €283 | €276 | €128 | €572 | €276 | ▼ 51.7% |
| Non-recurring operating charges66A | €2 | €40 | €901 | €7,006 | €7 | ▼ 99.9% |
| Gross operating margin9900 | €103,494 | €171,420 | €157,487 | €85,742 | €63,424 | ▼ 26.0% |
| Operating profit (loss)9901 | -€90,735 | -€21,625 | €11,942 | €76,334 | €69,645 | ▼ 8.8% |
| Financial income75/76B | €1 | - | - | - | - | - |
| Recurring financial income75 | €1 | - | - | - | - | - |
| Financial charges65/66B | €419 | €603 | €1,346 | €849 | €1,200 | ▲ 41.5% |
| Recurring financial charges65 | €419 | €603 | €1,346 | €849 | €1,200 | ▲ 41.5% |
| Profit (loss) for the period before taxes9903 | -€91,153 | -€22,228 | €10,595 | €75,485 | €68,444 | ▼ 9.3% |
| Income taxes67/77 | - | - | - | - | €3,213 | - |
| Profit (loss) for the period9904 | -€91,153 | -€22,228 | €10,595 | €75,485 | €65,231 | ▼ 13.6% |
| Profit (loss) for the period to be appropriated9905 | -€91,153 | -€22,228 | €10,595 | €75,485 | €65,231 | ▼ 13.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,196 | €64,778 | €26,678 | €20,844 | €31,021 | ▲ 48.8% |
| Fixed assets21/28 | €8,342 | €5,901 | €2,314 | €847 | €1,926 | ▲ 127% |
| Tangible fixed assets22/27 | €8,262 | €5,871 | €2,254 | €787 | €1,441 | ▲ 83.1% |
| Plant, machinery and equipment23 | €3,075 | €1,716 | €923 | €396 | €85 | ▼ 78.6% |
| Furniture and vehicles24 | €5,187 | €4,156 | €1,331 | €391 | €1,357 | ▲ 247% |
| Financial fixed assets28 | €80 | €30 | €60 | €60 | €485 | ▲ 708% |
| Current assets29/58 | €16,854 | €58,876 | €24,365 | €19,997 | €29,095 | ▲ 45.5% |
| Stocks and contracts in progress3 | - | - | - | €1,680 | - | - |
| Stocks30/36 | - | - | - | €1,680 | - | - |
| Amounts receivable within one year40/41 | €7,168 | €45,340 | €18,110 | €16,540 | €20,530 | ▲ 24.1% |
| Trade receivables40 | €3,309 | €45,176 | €12,532 | €15,394 | €500 | ▼ 96.8% |
| Other amounts receivable41 | €3,859 | €163 | €5,578 | €1,146 | €20,030 | ▲ 1,648% |
| Cash at bank and in hand54/58 | €9,686 | €13,537 | €6,254 | €1,776 | €8,565 | ▲ 382% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,196 | €64,778 | €26,678 | €20,844 | €31,021 | ▲ 48.8% |
| Equity10/15 | -€108,576 | -€130,804 | -€120,209 | -€44,724 | €20,507 | ▲ 146% |
| Contributions10/11 | €11,500 | €11,500 | €11,500 | €11,500 | €11,500 | = |
| Reserves13 | €400 | €400 | €400 | €400 | €400 | = |
| Non-distributable reserves130/1 | €400 | €400 | €400 | €400 | €400 | = |
| Reserves not available under the articles1311 | €400 | €400 | €400 | €400 | €400 | = |
| Profit (loss) carried forward14 | -€120,476 | -€142,704 | -€132,109 | -€56,624 | €8,607 | ▲ 115% |
| Amounts payable17/49 | €133,772 | €195,582 | €146,887 | €65,568 | €10,514 | ▼ 84.0% |
| Amounts payable within one year42/48 | €133,772 | €195,582 | €146,887 | €65,568 | €10,514 | ▼ 84.0% |
| Trade debts44 | €23,896 | €23,632 | €2,060 | €11,055 | €7,300 | ▼ 34.0% |
| Suppliers440/4 | €23,896 | €23,632 | €2,060 | €11,055 | €7,300 | ▼ 34.0% |
| Taxes, remuneration and social security45 | €92,312 | €155,886 | €136,158 | €41,273 | €3,214 | ▼ 92.2% |
| Taxes450/3 | - | €6,289 | €7,656 | €5,433 | €3,213 | ▼ 40.9% |
| Remuneration and social security454/9 | €92,312 | €149,597 | €128,502 | €35,839 | €1 | ▼ 100.0% |
| Other amounts payable47/48 | €17,564 | €16,064 | €8,669 | €13,240 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€91,153 | -€22,228 | €10,595 | €75,485 | €65,231 | ▼ 13.6% |
| + Depreciation and write-downs630 | €5,108 | €4,317 | €3,618 | €598 | €666 | ▲ 11.4% |
| Operating cash flow (approximation) | -€86,044 | -€17,911 | €14,213 | €76,083 | €65,897 | ▼ 13.4% |
| Investment in fixed assets (approximation) | - | -€1,876 | -€30 | €868 | -€1,746 | ▼ 301% |
| Change in cash | - | €3,851 | -€7,282 | -€4,478 | €6,788 | ▲ 252% |
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
25-09
State Gazette act
Resignation: VESELI Armend (manager)Shareholding3 facts ▸
State Gazette act
Resignation: VESELI Armend (manager)
Shareholding3 facts ▸
- General meeting, 18-05-2026
- Shareholding, 18-05-2026, parts
- Director resignation, VESELI Armend (manager)
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Liquidity times 9current ratio 2.77
Current ratio from 0.30 to 2.77; short-term debt falls from €65,568 to €10,514.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €75,485 ▲612%
Operating result €76,334, net result €75,485, both a record.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €10,595
Net result €10,595 after 2 loss-making years.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 32 days late
2021
31-12
Financial
Weakest financial yearnet -€91,153
Net result drops to -€91,153, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €9,590
Net result €9,590 after 2 loss-making years.
Show earlier events
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Wanze · 1 establishment unit since 2015
Ground area
1,725 m²
Building footprint
231 m²
Volume, LiDAR
1,274 m³
2 parcels, Wallonia · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Hubert Jadot(ANT) 5/1, 4520 Wanze
since 20152.244.143.795
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61005A0251/00M002 | Wallonia | 1,111 m² | 1 · 146 m² | 5.6 m · 1 fl. |
| 61005A0252/00S000 | Wallonia | 614 m² | 1 · 85 m² | 8.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| VESELI Armend |
|
Structure & network
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 25-09-2026 ↗
- Mehmeti Mitat all shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,429. 5,238 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded08-07-2015
Fiscal year end31-12
Abbreviation FR
IGM
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
43310Plastering work
43320Joinery installation
43350Other building finishing work
43422Screed work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0633666554
Also
9925:BE0633666554
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.