IMMAX
ActiveSummary
IMMAX has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.06M and a net result of €58k. Equity is growing by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 75% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+1
Solvency89▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity ample (current ratio 2.65 against 2.61 in 2024; short-term debt: 34% and cash: 6.9% of total assets), and 36.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
63.9%
Return on assets
1.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
28 d early
2023
31 d late
2022
31 d late
2021
31 d late
2020
58 d late
2019
32 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.06M▲ 1.9%
2024 · €3.00M
2018: €1.86Mlowest in 8 years
2019: €1.87M▲ +0.2% vs 2018
2020: €2.23M▲ +19.6% vs 2019
2021: €2.61M▲ +17.0% vs 2020
2022: €2.65M▲ +1.5% vs 2021
2023: €2.92M▲ +10.4% vs 2022
2024: €3.00M▲ +2.6% vs 2023
2025: €3.06M▲ +1.9% vs 2024highest in 8 years
2018 → 2025
Total assets
€4.79M▲ 1.1%
2024 · €4.74M
2018: €3.92M
2019: €4.06M▲ +3.6% vs 2018
2020: €3.46M▼ -14.8% vs 2019lowest in 8 years
2021: €3.87M▲ +12.0% vs 2020
2022: €4.95M▲ +27.9% vs 2021highest in 8 years
2023: €4.78M▼ -3.5% vs 2022
2024: €4.74M▼ -0.9% vs 2023
2025: €4.79M▲ +1.1% vs 2024
2018 → 2025
Net result
€58k▼ 25.0%
2024 · €77k
2018: €332k
2019: €304k▼ -8.5% vs 2018
2020: €365k▲ +20.3% vs 2019
2021: €380k▲ +4.0% vs 2020highest in 8 years
2022: €39k▼ -89.7% vs 2021lowest in 8 years
2023: €274k▲ +603% vs 2022
2024: €77k▼ -71.9% vs 2023
2025: €58k▼ -25.0% vs 2024
2018 → 2025
Working capital
€2.69M▲ 3.3%
2024 · €2.61M
2018: €1.72M
2019: €1.77M▲ +2.8% vs 2018
2020: €1.64M▼ -6.9% vs 2019lowest in 8 years
2021: €2.07M▲ +25.7% vs 2020
2022: €2.15M▲ +3.9% vs 2021
2023: €2.47M▲ +14.9% vs 2022
2024: €2.61M▲ +5.6% vs 2023
2025: €2.69M▲ +3.3% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.61M-€2.65M▲ 1.5%€2.92M▲ 10.4%€3.00M▲ 2.6%€3.06M▲ 1.9%
2021: €2.61Mlowest in 5 years
2022: €2.65M▲ +1.5% vs 2021
2023: €2.92M▲ +10.4% vs 2022
2024: €3.00M▲ +2.6% vs 2023
2025: €3.06M▲ +1.9% vs 2024highest in 5 years
Operating result€551k-€103k▼ 81.3%€449k▲ 337%€238k▼ 46.9%€182k▼ 23.5%
2021: €551khighest in 5 years
2022: €103k▼ -81.3% vs 2021lowest in 5 years
2023: €449k▲ +337% vs 2022
2024: €238k▼ -46.9% vs 2023
2025: €182k▼ -23.5% vs 2024
Net result€380k-€39k▼ 89.7%€274k▲ 603%€77k▼ 71.9%€58k▼ 25.0%
2021: €380khighest in 5 years
2022: €39k▼ -89.7% vs 2021lowest in 5 years
2023: €274k▲ +603% vs 2022
2024: €77k▼ -71.9% vs 2023
2025: €58k▼ -25.0% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.79M
Fixed assets
€472k ▼ 7.6%
Current assets
€4.32M ▲ 2.2%
Equity and liabilities €4.79M
Equity
€3.06M ▲ 1.9%
Debt
€1.73M ▼ 0.3%
Debt's share of the balance-sheet total falls from 36.7% to 36.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€270k▼
2024 · €321k
Cash flow
€146k▼
2024 · €160k
Current ratio
2.65▲
2024 · 2.61
Quick ratio
0.32▲
2024 · 0.27
Debt to equity
0.57▼
2024 · 0.58
ROE
1.9%▼
2024 · 2.6%
ROA
1.2%▼
2024 · 1.6%
Interest coverage
2.57▲
2024 · 2.37
Debt ≤ 1 year
€1.63M▲
2024 · €1.62M
Income taxes
€22k▼
2024 · €27k
Staff costs
€73k▼
2024 · €78k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.74M€4.79M▲
Fixed assets21/28€510k€472k▼
Intangible fixed assets21€9k€7k▼
Tangible fixed assets22/27€501k€464k▼
Land and buildings22€337k€295k▼
Plant, machinery and equipment23€12k€11k▼
Furniture and vehicles24€151k€159k▲
Financial fixed assets28€50€50=
Current assets29/58€4.23M€4.32M▲
Stocks and contracts in progress3€3.79M€3.80M▲
Stocks30/36€3.79M€3.80M▲
Amounts receivable within one year40/41€132k€186k▲
Trade receivables40€89k€116k▲
Other amounts receivable41€43k€70k▲
Cash at bank and in hand54/58€295k€329k▲
Deferred charges and accrued income490/1€5k€5k▼
Equity and liabilities
Total equity and liabilities10/49€4.74M€4.79M▲
Equity10/15€3.00M€3.06M▲
Contributions10/11€835k€835k=
Revaluation surpluses12€6k€6k=
Reserves13€1.61M€1.61M=
Tax-exempt reserves132€27k€27k=
Distributable reserves133€1.58M€1.58M=
Profit (loss) carried forward14€551k€609k▲
Amounts payable17/49€1.74M€1.73M▼
Amounts payable within one year42/48€1.62M€1.63M▲
Financial debts43€100k€0▼
Credit institutions430/8€100k€0▼
Trade debts44€36k€55k▲
Suppliers440/4€36k€55k▲
Taxes, remuneration and social security45€23k€35k▲
Taxes450/3€17k€27k▲
Remuneration and social security454/9€5k€9k▲
Other amounts payable47/48€1.46M€1.54M▲
Accrued charges and deferred income492/3€115k€104k▼
Income statement
Code20242025
Non-recurring operating income76A€20k€1k▼
Remuneration, social security and pensions62€78k€73k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€83k€88k▲
Other operating charges640/8€30k€14k▼
Non-recurring operating charges66A-€24
Gross operating margin9900€429k€358k▼
Operating profit (loss)9901€238k€182k▼
Financial income75/76B€1k€3k▲
Recurring financial income75€1k€3k▲
Financial charges65/66B€135k€105k▼
Recurring financial charges65€135k€105k▼
Profit (loss) for the period before taxes9903€104k€80k▼
Income taxes67/77€27k€22k▼
Profit (loss) for the period9904€77k€58k▼
Profit (loss) for the period to be appropriated9905€77k€58k▼
Appropriation of the result
Profit (loss) to be appropriated9906€551k€609k▲
Profit (loss) brought forward from the previous period14P€474k€551k▲
Social balance
Average headcount (FTE)90871.41.0▼
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €20k | €1k | ▼ 93.9% |
| Remuneration, social security and pensions62 | €65k | €138k | €145k | €78k | €73k | ▼ 6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60k | €60k | €60k | €83k | €88k | ▲ 6.4% |
| Other operating charges640/8 | €18k | €18k | €25k | €30k | €14k | ▼ 54.4% |
| Non-recurring operating charges66A | - | - | - | - | €24 | - |
| Gross operating margin9900 | €695k | €319k | €679k | €429k | €358k | ▼ 16.8% |
| Operating profit (loss)9901 | €551k | €103k | €449k | €238k | €182k | ▼ 23.5% |
| Financial income75/76B | €2k | €4k | €16k | €1k | €3k | ▲ 140% |
| Recurring financial income75 | €2k | €4k | €16k | €1k | €3k | ▲ 140% |
| Financial charges65/66B | €46k | €54k | €90k | €135k | €105k | ▼ 22.2% |
| Recurring financial charges65 | €46k | €54k | €90k | €135k | €105k | ▼ 22.2% |
| Profit (loss) for the period before taxes9903 | €507k | €53k | €375k | €104k | €80k | ▼ 23.3% |
| Income taxes67/77 | €127k | €14k | €101k | €27k | €22k | ▼ 18.5% |
| Profit (loss) for the period9904 | €380k | €39k | €274k | €77k | €58k | ▼ 25.0% |
| Profit (loss) for the period to be appropriated9905 | €380k | €39k | €274k | €77k | €58k | ▼ 25.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.87M | €4.95M | €4.78M | €4.74M | €4.79M | ▲ 1.1% |
| Fixed assets21/28 | €545k | €507k | €462k | €510k | €472k | ▼ 7.6% |
| Intangible fixed assets21 | €2k | - | €2k | €9k | €7k | ▼ 22.8% |
| Tangible fixed assets22/27 | €544k | €506k | €461k | €501k | €464k | ▼ 7.3% |
| Land and buildings22 | €466k | €423k | €380k | €337k | €295k | ▼ 12.7% |
| Plant, machinery and equipment23 | - | - | €14k | €12k | €11k | ▼ 11.4% |
| Furniture and vehicles24 | €78k | €84k | €66k | €151k | €159k | ▲ 5.1% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €3.33M | €4.45M | €4.32M | €4.23M | €4.32M | ▲ 2.2% |
| Stocks and contracts in progress3 | €1.72M | €3.13M | €3.71M | €3.79M | €3.80M | ▲ 0.1% |
| Stocks30/36 | €1.72M | €3.13M | €3.71M | €3.79M | €3.80M | ▲ 0.1% |
| Amounts receivable within one year40/41 | €139k | €1.03M | €195k | €132k | €186k | ▲ 40.1% |
| Trade receivables40 | €81k | €429k | €87k | €89k | €116k | ▲ 29.9% |
| Other amounts receivable41 | €58k | €600k | €109k | €43k | €70k | ▲ 61.1% |
| Cash at bank and in hand54/58 | €1.47M | €287k | €404k | €295k | €329k | ▲ 11.7% |
| Deferred charges and accrued income490/1 | €108 | - | €5k | €5k | €5k | ▼ 13.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.87M | €4.95M | €4.78M | €4.74M | €4.79M | ▲ 1.1% |
| Equity10/15 | €2.61M | €2.65M | €2.92M | €3.00M | €3.06M | ▲ 1.9% |
| Contributions10/11 | €835k | €835k | €835k | €835k | €835k | = |
| Revaluation surpluses12 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €1.61M | €1.61M | €1.61M | €1.61M | €1.61M | = |
| Non-distributable reserves130/1 | €83k | €83k | €0 | - | - | - |
| Reserves not available under the articles1311 | €83k | €83k | €0 | - | - | - |
| Tax-exempt reserves132 | €27k | €27k | €27k | €27k | €27k | = |
| Distributable reserves133 | €1.50M | €1.50M | €1.58M | €1.58M | €1.58M | = |
| Profit (loss) carried forward14 | €161k | €200k | €474k | €551k | €609k | ▲ 10.5% |
| Amounts payable17/49 | €1.26M | €2.30M | €1.86M | €1.74M | €1.73M | ▼ 0.3% |
| Amounts payable within one year42/48 | €1.26M | €2.30M | €1.85M | €1.62M | €1.63M | ▲ 0.3% |
| Financial debts43 | - | €770k | €1.05M | €100k | €0 | ▼ 100% |
| Credit institutions430/8 | - | €770k | €1.05M | €100k | €0 | ▼ 100% |
| Trade debts44 | €61k | €308k | €25k | €36k | €55k | ▲ 52.8% |
| Suppliers440/4 | €61k | €308k | €25k | €36k | €55k | ▲ 52.8% |
| Taxes, remuneration and social security45 | €59k | €60k | €76k | €23k | €35k | ▲ 55.3% |
| Taxes450/3 | €52k | €35k | €68k | €17k | €27k | ▲ 52.8% |
| Remuneration and social security454/9 | €7k | €25k | €8k | €5k | €9k | ▲ 63.5% |
| Other amounts payable47/48 | €1.14M | €1.16M | €700k | €1.46M | €1.54M | ▲ 5.1% |
| Accrued charges and deferred income492/3 | - | €3k | €4k | €115k | €104k | ▼ 9.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €380k | €39k | €274k | €77k | €58k | ▼ 25.0% |
| + Depreciation and write-downs630 | €60k | €60k | €60k | €83k | €88k | ▲ 6.4% |
| Operating cash flow (approximation) | €440k | €99k | €335k | €160k | €146k | ▼ 8.8% |
| Investment in fixed assets (approximation) | - | €-21k | €-16k | €-131k | €-49k | ▲ 62.2% |
| Change in cash | - | €-1.18M | €116k | €-109k | €35k | ▲ 132% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €39k ▼89.7%
Net result drops to €39k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €380k ▲4%
Operating result €551k, net result €380k, both a record.
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 58 days late
2020
31-12
Financial
Equity above €2MEq €2.23M ▲19.6%
3 profitable years in a row build equity to €2.23M.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Knokke-Heist · 1 establishment unit since 1998
Ground area
736 m²
Building footprint
736 m²
Volume, LiDAR
10,202 m³
Parcel 31013A0380/00A000, Flanders · tallest building 22.5 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Immax Immobiliën
since 19982.088.482.452
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31013A0380/00A000 | Flanders | 736 m² | 1 · 736 m² | 22.5 m · 5 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,238 EUR awarded · 1,238 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,238 EUR | 1,238 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 2,226 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
Founded16-09-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.