Imcore Group
ActiveSummary
Imcore Group has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€18,996) and a net result of €17,260. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 7% of 37969 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability92▲+89
Solvency4▲+4
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.56 against 1.15 in 2023; short-term debt: 27.1% and cash: 7.7% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-20.8%
Return on assets
18.9%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 37969 sector peers (2024).
NBB · sector comparisonPosition among 37969 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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
61 d late
2023
50 d late
2022
41 d early
2021
116 d late
2019
31 d late
2018
58 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€18,996▲ 47.6%
2023 · -€36,256
Total assets
€91,462▼ 9.4%
2023 · €101,006
Net result
€17,260
2023 · -€12,503
Working capital
€13,943▲ 141%
2023 · €5,791
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20192021202220232024
Operating result€11,822-€9,748-€3,785-€10,211€18,935
Net result€7,892-€12,374below the sector's middle half-€1,641below the sector's middle half-€12,503below the sector's middle half€17,260within the sector's middle half
Equity-€26,623▲ 22.9%-€25,394below the sector's middle half--€23,753below the sector's middle half▲ 6.5%-€36,256below the sector's middle half▼ 52.6%-€18,996below the sector's middle half▲ 47.6%
Total assets€127,023▼ 0.3%€113,829within the sector's middle half-€119,657within the sector's middle half▲ 5.1%€101,006within the sector's middle half▼ 15.6%€91,462within the sector's middle half▼ 9.4%
Debt€151,296▼ 5.2%€133,247-€140,512▲ 5.5%€132,272▼ 5.9%€104,905▼ 20.7%
Working capital€4,864€21,633within the sector's middle half-€19,419within the sector's middle half▼ 10.2%€5,791within the sector's middle half▼ 70.2%€13,943within the sector's middle half▲ 141%
Solvency-21.0%▲ 6.1pp-22.3%below the sector's middle half--19.9%below the sector's middle half▲ 2.5pp-35.9%below the sector's middle half▼ 16.0pp-20.8%below the sector's middle half▲ 15.1pp
Current ratio1.19▲ 0.252.33within the sector's middle half-1.57within the sector's middle half▼ 0.751.15within the sector's middle half▼ 0.421.56within the sector's middle half▲ 0.41
Return on assets (ROA)6.2%▲ 14.6pp-10.9%below the sector's middle half-1.4%below the sector's middle half▲ 12.2pp-12.4%below the sector's middle half▼ 13.7pp18.9%within the sector's middle half▲ 31.2pp
Staff (FTE)2-3▲ 50.0%2▼ 33.3%2=
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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 returns to profit in 2024: €18,935 after a loss of €10,211 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €91,462
Fixed assets
€52,745 ▼ 7.6%
Current assets
€38,717 ▼ 11.8%
Key figures and ratios
EBITDA
€28,276▲
2023 · -€870
Cash flow
€26,601▲
2023 · -€3,161
Quick ratio
0.39▼
2023 · 0.55
Debt to equity
-5.52▼
2023 · -3.65
Interest coverage
16.88▲
2023 · -0.38
Debt ≤ 1 year
€24,775▼
2023 · €38,128
Debt > 1 year
€75,431▼
2023 · €87,126
Staff costs
€51,876▲
2023 · €44,098
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,640 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,662 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 3,640 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 | 2019 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €16 | €486 | - | €3,222 | - |
| Remuneration, social security and pensions62 | - | €51,209 | €51,946 | €44,098 | €51,876 | ▲ 17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,973 | €10,032 | €9,481 | €9,341 | €9,341 | = |
| Other operating charges640/8 | - | €2,500 | - | - | - | - |
| Gross operating margin9900 | €42,801 | €53,993 | €65,212 | €43,229 | €80,153 | ▲ 85.4% |
| Operating profit (loss)9901 | €11,822 | -€9,748 | €3,785 | -€10,211 | €18,935 | ▲ 285% |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Financial charges65/66B | - | €2,627 | €2,144 | €2,292 | €1,675 | ▼ 26.9% |
| Recurring financial charges65 | €3,930 | €2,627 | €2,144 | €2,292 | €1,675 | ▼ 26.9% |
| Profit (loss) for the period before taxes9903 | €7,892 | -€12,374 | €1,641 | -€12,503 | €17,260 | ▲ 238% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €7,892 | -€12,374 | €1,641 | -€12,503 | €17,260 | ▲ 238% |
| Profit (loss) for the period to be appropriated9905 | €7,892 | -€12,374 | €1,641 | -€12,503 | €17,260 | ▲ 238% |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,023 | €113,829 | €119,657 | €101,006 | €91,462 | ▼ 9.4% |
| Fixed assets21/28 | €96,158 | €75,909 | €66,428 | €57,086 | €52,745 | ▼ 7.6% |
| Tangible fixed assets22/27 | €95,930 | €75,681 | €66,200 | €56,858 | €47,517 | ▼ 16.4% |
| Land and buildings22 | - | €140 | - | - | - | - |
| Furniture and vehicles24 | - | €810 | €810 | €810 | €810 | = |
| Other tangible fixed assets26 | - | €74,731 | €65,390 | €56,048 | €46,707 | ▼ 16.7% |
| Financial fixed assets28 | €228 | €228 | €228 | €228 | €5,228 | ▲ 2,193% |
| Current assets29/58 | €30,865 | €37,921 | €53,230 | €43,920 | €38,717 | ▼ 11.8% |
| Stocks and contracts in progress3 | €12,641 | €26,113 | €26,824 | €23,106 | €29,098 | ▲ 25.9% |
| Stocks30/36 | - | €26,113 | €26,824 | €23,106 | €29,098 | ▲ 25.9% |
| Amounts receivable within one year40/41 | €1,951 | €5,262 | €17,413 | €17,215 | - | - |
| Trade receivables40 | - | €5,262 | €17,413 | €17,215 | - | - |
| Cash at bank and in hand54/58 | €10,808 | €3,661 | €8,976 | €3,582 | €7,057 | ▲ 97.0% |
| Deferred charges and accrued income490/1 | - | €2,885 | €16 | €16 | €2,562 | ▲ 15,522% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,023 | €113,829 | €119,657 | €101,006 | €91,462 | ▼ 9.4% |
| Equity10/15 | -€26,623 | -€25,394 | -€23,753 | -€36,256 | -€18,996 | ▲ 47.6% |
| Contributions10/11 | €21,000 | €21,000 | €21,000 | €21,000 | €21,000 | = |
| Reserves13 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Non-distributable reserves130/1 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€52,623 | -€51,394 | -€49,753 | -€62,256 | -€44,996 | ▲ 27.7% |
| Provisions and deferred taxes16 | €2,349 | €5,977 | €2,899 | €4,990 | €5,554 | ▲ 11.3% |
| Provisions for liabilities and charges160/5 | - | €5,977 | €2,899 | €4,990 | €5,554 | ▲ 11.3% |
| Other liabilities and charges164/5 | - | €5,977 | €2,899 | €4,990 | €5,554 | ▲ 11.3% |
| Amounts payable17/49 | €151,296 | €133,247 | €140,512 | €132,272 | €104,905 | ▼ 20.7% |
| Amounts payable after more than one year17 | €121,080 | €109,811 | €98,585 | €87,126 | €75,431 | ▼ 13.4% |
| Financial debts170/4 | - | €109,811 | €98,585 | €87,126 | €75,431 | ▼ 13.4% |
| Amounts payable within one year42/48 | €26,001 | €16,287 | €33,811 | €38,128 | €24,775 | ▼ 35.0% |
| Trade debts44 | €8,850 | €2,125 | €3,980 | €9,543 | €5,049 | ▼ 47.1% |
| Suppliers440/4 | - | €2,125 | €3,980 | €9,543 | €5,049 | ▼ 47.1% |
| Taxes, remuneration and social security45 | - | €5,968 | €11,193 | €9,775 | €3,070 | ▼ 68.6% |
| Taxes450/3 | - | €5,968 | €10,502 | €7,934 | €3,070 | ▼ 61.3% |
| Remuneration and social security454/9 | - | - | €691 | €1,841 | - | - |
| Other amounts payable47/48 | - | €8,195 | €18,638 | €18,810 | €16,656 | ▼ 11.5% |
| Accrued charges and deferred income492/3 | - | €7,148 | €8,117 | €7,017 | €4,699 | ▼ 33.0% |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,892 | -€12,374 | €1,641 | -€12,503 | €17,260 | ▲ 238% |
| + Depreciation and write-downs630 | €10,973 | €10,032 | €9,481 | €9,341 | €9,341 | = |
| Operating cash flow (approximation) | €18,865 | -€2,343 | €11,122 | -€3,161 | €26,601 | ▲ 942% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | -€5,000 | - |
| Change in cash | - | - | €5,315 | -€5,394 | €3,475 | ▲ 164% |
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
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €17,260
Net result €17,260 after one loss-making year.
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
31-12
Financial
Weakest financial yearnet -€12,503
Net result drops to -€12,503, the lowest in the series; recovery starts the following year.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €1,641
Net result €1,641 after one loss-making year.
24-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 116 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Back to profitnet €7,892
Net result €7,892 after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
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, Kapellen · 1 establishment unit since 2008
Ground area
417 m²
Building footprint
116 m²
Volume, LiDAR
816 m³
Parcel 11902E0338/00Z000, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Imcore
since 20082.172.813.658
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902E0338/00Z000 | Flanders | 417 m² | 1 · 116 m² | 11.4 m · 3 fl. |
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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-07-2008
Fiscal year end31-12
Activities, NACEBEL 2025
46382Wholesale trade
70200Business and other management consultancy
47610Retail trade
64210Activities of holding companies
68321Property management for co-owned buildings (syndics)
96999Other personal services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0899746462
Also
9925:BE0899746462
Registered
07-02-2026
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.