IMMALEF
ActiveSummary
IMMALEF has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €935,569 and a net result of €59,373. Equity has been growing by about 6.9% per year since 2018. Its solvency ranks better than 91% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-08-2000 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.100.947.051 8792 Waregem, since 19-09-2000
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €93,811
- ▼ 12.9%
- Turnover
- ≈ €190,000
- estimated
- Profit
- €59,373
- ▼ 13.9%
- Equity
- €935,569
- ▲ 6.8%
- Total assets
- €1.0m
- ▲ 6.5%
Score breakdownlowers riskLiquidity: current ratio 19.24, cash €272,051Size: total assets €1.0mEquity €935,569 (91.7% of total assets)Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 86% of them on solvency, 75% on liquidity, 41% on profitability and 53% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 26 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 26 filings
Every figure per financial year
The operating result for 2025 is 16% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €19,893 | €1,860 | €8,174 | €11,033 |
| Depreciation and write-downs of the year | €21,474 | €21,487 | €21,788 | €2,076 | €3,997 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,877 | €21,323 | €21,357 | €21,474 | €21,487 | €21,788 | €2,076 | €3,997 | ▲ 92.5% |
| Other operating charges640/8 | - | - | - | €7,102 | €6,848 | €7,524 | €7,771 | €7,922 | ▲ 1.9% |
| Gross operating margin9900 | €153,486 | €128,722 | €122,396 | €111,465 | €100,792 | €102,045 | €107,725 | €93,811 | ▼ 12.9% |
| Operating profit (loss)9901 | €125,182 | €100,700 | €94,047 | €82,889 | €72,457 | €72,733 | €97,877 | €81,892 | ▼ 16.3% |
| Financial income75/76B | - | - | - | - | - | - | €4,661 | €5,988 | ▲ 28.5% |
| Recurring financial income75 | - | - | - | - | - | - | €4,661 | €5,988 | ▲ 28.5% |
| Financial charges65/66B | - | - | - | €2,339 | €1,756 | €1,334 | €870 | €794 | ▼ 8.8% |
| Recurring financial charges65 | €6,225 | €3,643 | €2,773 | €2,339 | €1,756 | €1,334 | €870 | €794 | ▼ 8.8% |
| Profit (loss) for the period before taxes9903 | €118,957 | €97,057 | €91,274 | €80,550 | €70,701 | €71,399 | €101,668 | €87,086 | ▼ 14.3% |
| Income taxes67/77 | €42,812 | €34,341 | €28,594 | €25,216 | €20,902 | €22,284 | €32,703 | €27,713 | ▼ 15.3% |
| Profit (loss) for the period9904 | €76,144 | €62,716 | €62,680 | €55,334 | €49,799 | €49,115 | €68,966 | €59,373 | ▼ 13.9% |
| Profit (loss) for the period to be appropriated9905 | €76,144 | €62,716 | €62,680 | €55,334 | €49,799 | €49,115 | €68,966 | €59,373 | ▼ 13.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 6.5% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 2.2% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 2.2% |
| Land and buildings22 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.9% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €417 | €0.002m | €0.009m | €0.01m | ▲ 46.5% |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €250 | €250 | €250 | €250 | = |
| Current assets29/58 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | €0.7m | ▲ 8.5% |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 2.2% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 2.2% |
| Current investments50/53 | - | - | - | - | - | - | €0.3m | €0.3m | ▲ 3.4% |
| Cash at bank and in hand54/58 | €0.09m | €0.04m | €0.3m | €0.4m | €0.4m | €0.4m | €0.2m | €0.3m | ▲ 18.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 6.5% |
| Equity10/15 | €0.6m | €0.6m | €0.7m | €0.7m | €0.8m | €0.8m | €0.9m | €0.9m | ▲ 6.8% |
| Contributions10/11 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Capital10 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Issued capital100 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Reserves13 | €0.5m | €0.6m | €0.6m | €0.6m | €0.7m | €0.7m | €0.8m | €0.9m | ▲ 7.4% |
| Non-distributable reserves130/1 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Legal reserve130 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | €0.7m | €0.8m | €0.9m | ▲ 7.5% |
| Provisions and deferred taxes16 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Pensions and similar obligations160 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Major repairs and maintenance162 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Amounts payable17/49 | €0.2m | €0.2m | €0.1m | €0.09m | €0.07m | €0.03m | €0.04m | €0.04m | ▲ 7.4% |
| Amounts payable after more than one year17 | €0.1m | €0.09m | €0.06m | €0.03m | €0.005m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.03m | €0.005m | - | - | - | - |
| Amounts payable within one year42/48 | €0.08m | €0.06m | €0.05m | €0.06m | €0.06m | €0.03m | €0.04m | €0.04m | ▲ 2.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.005m | - | - | - |
| Trade debts44 | €0.04m | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | €0.02m | €0.03m | ▲ 82.5% |
| Suppliers440/4 | - | - | - | €0.02m | €0.01m | €0.01m | €0.02m | €0.03m | ▲ 82.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.009m | €0.02m | €0.004m | ▼ 75.4% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.009m | €0.02m | €0.004m | ▼ 75.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | - | €0.002m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76,144 | €62,716 | €62,680 | €55,334 | €49,799 | €49,115 | €68,966 | €59,373 | ▼ 13.9% |
| + Depreciation and write-downs630 | €21,877 | €21,323 | €21,357 | €21,474 | €21,487 | €21,788 | €2,076 | €3,997 | ▲ 92.5% |
| Operating cash flow (approximation) | €98,021 | €84,040 | €84,037 | €76,808 | €71,286 | €70,903 | €71,042 | €63,370 | ▼ 10.8% |
| Investment in fixed assets (approximation) | - | €0 | -€751 | €0 | -€19,893 | -€1,860 | -€8,174 | -€11,033 | ▼ 35.0% |
| Change in cash | - | -€46,989 | €297,421 | €36,971 | €38,953 | €30,232 | -€214,628 | €42,191 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as IMMALEF has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of IMMALEF itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,136 companies, not a prediction for IMMALEF. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00147513 | |
| 31-12-2024 | micro format | 13-06-2025 | 2025-00142170 | |
| 31-12-2023 | micro format | 27-05-2024 | 2024-00100200 | |
| 31-12-2022 | micro format | 16-06-2023 | 2023-00136479 | |
| 31-12-2021 | micro format | 06-07-2022 | 2022-20160028 | |
| 31-12-2020 | micro format | 02-08-2021 | 2021-45200201 | |
| 31-12-2019 | micro format | 21-09-2020 | 2020-54500400 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56100433 | |
| 31-12-2017 | micro format | 14-08-2018 | 2018-45700361 | |
| 31-12-2016 | micro format | 10-07-2017 | 2017-29500258 |
Board & ownership
Directors
Board 1
Day-to-day management 1
Owners and capital
Capital transactions
- 28-12-2023 Capital stated in the deed · €76,688.39 · 250 shares
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| LEFEBVRE Lucien Achiel |
|
| ALLAERT Marie Christine Francine Lucianna |
|
| LEFEBVRE Delphine |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “3, algemene vergadering kan mandaat elke bestuurder steeds te allen tijde zonder opgave van redenen met onmiddellijke ingang beëindigen”
Articles of association, deed of 28-12-2023 (in Dutch)
Network & group
Board mandates elsewhere
1 board mandateCompanies at the same address
2 other companiesConnections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
28-12
Gazette deed
3 directors resigning, 4 reappointedResignations: LEFEBVRE Delphine, LEFEBVRE Lucien Achiel and ALLAERT Marie Christine Francine Lucianna · Reappointments: LEFEBVRE Delphine, LEFEBVRE Lucien Achiel and ALLAERT Marie Christine Francine Lucianna · Permanent representative: LEFEBVRE Lucien Achiel18 points ▸
- General meeting, 19-12-2023
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “tekst nieuwe statuten” (deed in Dutch)
- Capital, €76,688.39
- Director resignation, LEFEBVRE Delphine (director)
- Director resignation, LEFEBVRE Lucien Achiel (director)
- Director resignation, ALLAERT Marie Christine Francine Lucianna (director)
- Director reappointment, LEFEBVRE Delphine (director)
- Director reappointment, LEFEBVRE Lucien Achiel (director)
- Director reappointment, ALLAERT Marie Christine Francine Lucianna (director)
- Registered office clause, “8792 Desselgem,Leiestraat 73, Vierde besluit” (deed in Dutch)
- Power of attorney
- The act holds 6 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
7 activities
- In België of in het buitenland,voor haar eigen rekening of voor rekening van derden en/of tussenpersonen,alle immobiliaire,operaties of ermede verband houdende verrichtingen te doen met name,aankoop,verkoop,ruiling,verhuring,expertise,beheer,onroerende promotie,omvorming of ombouwing en valorisatie van onroerende goederen van alle aard,zo gronden als gebouwen,zo op het platteland als in bebouwde kommen,in voorkomend geval bij middel van lotissering,verkaveling,nieuwbouw,heropbouw of verbouwing,voorts:
- Het kopen,verkopen en ruilen van alle welkdanige aandelen en andere maatschappelijke rechten,obligaties en,in het algemeen van alle roerende waarden,het nemen van participaties onder welke vorm ook,in alle bestaande en op te richten vennootschappen en ondernemingen;het beheren en valoriseren van roerende waarden en participaties,het verlenen van financiële en andere bijstand aan de vennootschappen en ondernemingen waarin ze belangen heeft;
- Het verlenen van zowel persoonlijke als zakelijke,roerende als onroerende waarborgen ten voordele van derden;
- Alle opdrachten uitoefenen in andere vennootschappen zoals opdrachten van bestuurder of vereffenaar;
- De vennootschap kan alle roerende materialen en installaties kopen,huren,verhuren,produceren,oprichten,die tot de verwezenlijking van het voorwerp kunnen bijdragen.
- Zij mag op om het even welke wijze en door gelijk welk middel absorberen,rechten verkrijgen,deelnemen in,fusies aangaan met gelijk welke andere handelsvennootschap of onderneming.
- De vennootschap mag alle burgerlijke,industriële,financiële,commerciële,roerende,onroerende en alle welkdanige andere verrichtingen,handelingen stellen of laten stellen die rechtstreeks of onrechtstreeks,geheel of gedeeltelijk in verband staan met één of andere branche van haar sociaal voorwerp of die eenvoudig of nuttig of bevorderlijk zijn of zouden kunnen zijn om haar voorwerp te verwezenlijken.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34010A0316/00E000 | Flanders | 1,894 m² | 1 · 258 m² | 8.5 m · 2 |
| 34010B0103/00E000 | Flanders | 1,273 m² | 1 · 320 m² | 7.4 m · 2 |