IMACOR
ActiveSummary
IMACOR has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79,581 and a net result of €10,332. Equity is growing by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 54% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-15
Solvency72▼-12
Growth52=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.75 in 2024; short-term debt: 53.2% and cash: 37% of total assets), and 53.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
46.8%
Return on assets
6.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
1 d late
2023
6 d early
2022
28 d late
2021
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 5 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 1 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€79,581▼ 30.1%
2024 · €113,840
Total assets
€169,899▼ 12.6%
2024 · €194,366
Net result
€10,332▼ 70.6%
2024 · €35,092
Working capital
€26,767▼ 50.5%
2024 · €54,070
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€65,105-€37,764▼ 42.0%€44,869▲ 18.8%€46,703▲ 4.1%€15,849▼ 66.1%
Net result€47,265above the sector's middle half-€27,316above the sector's middle half▼ 42.2%€35,296above the sector's middle half▲ 29.2%€35,092above the sector's middle half▼ 0.6%€10,332within the sector's middle half▼ 70.6%
Equity€52,265within the sector's middle half-€79,581within the sector's middle half▲ 52.3%€114,877within the sector's middle half▲ 44.4%€113,840within the sector's middle half▼ 0.9%€79,581within the sector's middle half▼ 30.1%
Total assets€85,183within the sector's middle half-€117,976within the sector's middle half▲ 38.5%€146,288within the sector's middle half▲ 24.0%€194,366within the sector's middle half▲ 32.9%€169,899within the sector's middle half▼ 12.6%
Debt€32,918-€38,395▲ 16.6%€31,411▼ 18.2%€80,526▲ 156%€90,318▲ 12.2%
Working capital€49,667within the sector's middle half-€78,087within the sector's middle half▲ 57.2%€114,196within the sector's middle half▲ 46.2%€54,070within the sector's middle half▼ 52.7%€26,767within the sector's middle half▼ 50.5%
Solvency61.4%within the sector's middle half-67.5%above the sector's middle half▲ 6.1pp78.5%above the sector's middle half▲ 11.1pp58.6%within the sector's middle half▼ 20.0pp46.8%within the sector's middle half▼ 11.7pp
Current ratio2.51within the sector's middle half-3.03within the sector's middle half▲ 0.524.64above the sector's middle half▲ 1.601.75within the sector's middle half▼ 2.881.30within the sector's middle half▼ 0.46
Return on assets (ROA)55.5%above the sector's middle half-23.2%above the sector's middle half▼ 32.3pp24.1%above the sector's middle half▲ 1.0pp18.1%above the sector's middle half▼ 6.1pp6.1%within the sector's middle half▼ 12.0pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 66% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169,899
Fixed assets
€52,814 ▼ 22.8%
Current assets
€117,085 ▼ 7.0%
Equity and liabilities €169,899
Equity
€79,581 ▼ 30.1%
Debt
€90,318 ▲ 12.2%
Debt's share of the balance-sheet total rises from 41.4% to 53.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€31,447▼
2024 · €58,936
Cash flow
€25,930▼
2024 · €47,324
Debt to equity
1.13▲
2024 · 0.71
ROE
13.0%▼
2024 · 30.8%
Interest coverage
22.23▼
2024 · 34.45
Debt ≤ 1 year
€90,318▲
2024 · €71,883
Income taxes
€4,102▼
2024 · €9,901
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 26,970 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,290 | €1,103 | €812 | €12,233 | €15,598 | ▲ 27.5% |
| Other operating charges640/8 | €361 | €403 | €224 | €1,632 | €883 | ▼ 45.9% |
| Gross operating margin9900 | €66,756 | €39,270 | €45,905 | €60,568 | €32,330 | ▼ 46.6% |
| Operating profit (loss)9901 | €65,105 | €37,764 | €44,869 | €46,703 | €15,849 | ▼ 66.1% |
| Financial charges65/66B | €82 | €185 | €172 | €1,711 | €1,415 | ▼ 17.3% |
| Recurring financial charges65 | €82 | €185 | €172 | €1,711 | €1,415 | ▼ 17.3% |
| Profit (loss) for the period before taxes9903 | €65,023 | €37,578 | €44,697 | €44,992 | €14,434 | ▼ 67.9% |
| Income taxes67/77 | €17,758 | €10,262 | €9,401 | €9,901 | €4,102 | ▼ 58.6% |
| Profit (loss) for the period9904 | €47,265 | €27,316 | €35,296 | €35,092 | €10,332 | ▼ 70.6% |
| Profit (loss) for the period to be appropriated9905 | €47,265 | €27,316 | €35,296 | €35,092 | €10,332 | ▼ 70.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €85,183 | €117,976 | €146,288 | €194,366 | €169,899 | ▼ 12.6% |
| Fixed assets21/28 | €2,598 | €1,494 | €682 | €68,413 | €52,814 | ▼ 22.8% |
| Tangible fixed assets22/27 | €2,598 | €1,494 | €682 | €65,413 | €49,814 | ▼ 23.8% |
| Furniture and vehicles24 | €2,598 | €1,494 | €682 | €65,413 | €49,814 | ▼ 23.8% |
| Financial fixed assets28 | - | - | - | €3,000 | €3,000 | = |
| Current assets29/58 | €82,585 | €116,482 | €145,607 | €125,953 | €117,085 | ▼ 7.0% |
| Amounts receivable within one year40/41 | €39,754 | €22,130 | €57,673 | €71,124 | €54,218 | ▼ 23.8% |
| Trade receivables40 | €39,754 | €22,130 | €57,673 | €71,025 | €54,218 | ▼ 23.7% |
| Other amounts receivable41 | - | - | - | €99 | - | - |
| Cash at bank and in hand54/58 | €41,311 | €92,881 | €87,933 | €54,829 | €62,867 | ▲ 14.7% |
| Deferred charges and accrued income490/1 | €1,520 | €1,471 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €85,183 | €117,976 | €146,288 | €194,366 | €169,899 | ▼ 12.6% |
| Equity10/15 | €52,265 | €79,581 | €114,877 | €113,840 | €79,581 | ▼ 30.1% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €47,265 | €74,581 | €109,877 | €74,581 | €74,581 | = |
| Distributable reserves133 | €47,265 | €74,581 | €109,877 | €74,581 | €74,581 | = |
| Profit (loss) carried forward14 | - | - | - | €34,259 | - | - |
| Amounts payable17/49 | €32,918 | €38,395 | €31,411 | €80,526 | €90,318 | ▲ 12.2% |
| Amounts payable after more than one year17 | - | - | - | €8,643 | - | - |
| Financial debts170/4 | - | - | - | €8,643 | - | - |
| Amounts payable within one year42/48 | €32,918 | €38,395 | €31,411 | €71,883 | €90,318 | ▲ 25.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,180 | €8,643 | ▼ 65.7% |
| Trade debts44 | €4,492 | €3,408 | €2,845 | €3,784 | €3,307 | ▼ 12.6% |
| Suppliers440/4 | €4,492 | €3,408 | €2,845 | €3,784 | €3,307 | ▼ 12.6% |
| Taxes, remuneration and social security45 | €23,377 | €32,221 | €24,602 | €5,591 | €7,801 | ▲ 39.5% |
| Taxes450/3 | €23,377 | €32,221 | €24,602 | €5,591 | €7,801 | ▲ 39.5% |
| Other amounts payable47/48 | €5,049 | €2,766 | €3,964 | €37,328 | €70,566 | ▲ 89.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,265 | €27,316 | €35,296 | €35,092 | €10,332 | ▼ 70.6% |
| + Depreciation and write-downs630 | €1,290 | €1,103 | €812 | €12,233 | €15,598 | ▲ 27.5% |
| Operating cash flow (approximation) | €48,555 | €28,420 | €36,109 | €47,324 | €25,930 | ▼ 45.2% |
| Investment in fixed assets (approximation) | - | €1 | €0 | -€79,964 | €0 | ▲ 100% |
| Change in cash | - | €51,570 | -€4,947 | -€33,104 | €8,038 | ▲ 124% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €10,332 ▼70.6%
Net result drops to €10,332, the lowest in the series.
01-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 1 day late
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €114,877 ▲44.4%
3 profitable years in a row build equity to €114,877.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 2020
Ground area
3,109 m²
Building footprint
211 m²
Volume, LiDAR
435 m³
Parcel 34452B1163/00A000, Flanders · tallest building 10.5 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
IMACOR
since 20202.303.496.315
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B1163/00A000 | Flanders | 3,109 m² | 1 · 211 m² | 10.4 m |
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 4,414 companies in sector 46180 we hold annual accounts for 1,892. 1,409 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
Founded29-04-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0746570891
Also
9925:BE0746570891
Registered
12-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.