IMMHORECAS
ActiveIMMHORECAS has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €173k and a net result of €-49k. Equity is shrinking by ~24.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 29% of 31540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability9▼-23
Solvency53▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.62 against 2.05 in 2024; short-term debt: 3.7% of total assets), but 71.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 70
lower
← 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-49k
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 · 9 filingsDeviation from the deadline
2025
31 d late
2024
49 d early
2023
29 d late
2022
121 d late
2021
233 d late
2020
23 d late
2019
165 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€173k▼ 21.9%
2024 · €221k
2018: €6k
2019: €-22k
2020: €-59k
2021: €-121k
2022: €-167k
2023: €-212k
2024: €221k
2018 → 2025
Total assets
€613k▼ 2.8%
2024 · €630k
2018: €339k
2019: €315k
2020: €270k
2021: €243k
2022: €219k
2023: €179k
2024: €630k
2018 → 2025
Net result
€-49k▼ 314%
2024 · €-12k
2018: €275
2019: €-28k
2020: €-37k
2021: €-62k
2022: €-46k
2023: €-45k
2024: €-12k
2018 → 2025
Working capital
€14k▼ 9.4%
2024 · €15k
2018: €-16k
2019: €4k
2020: €-21k
2021: €-63k
2022: €-91k
2023: €-134k
2024: €15k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-121k-€-167k▼ 38.5%€-212k▼ 26.7%€221k€173k▼ 21.9%
Operating result€-42k-€-32k▲ 23.1%€-29k▲ 10.7%€2k€-35k
Net result€-62k-€-46k▲ 24.7%€-45k▲ 4.0%€-12k▲ 73.7%€-49k▼ 314%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €35k after €2k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €613k
Fixed assets
€576k▼ 4.0%
Current assets
€36k▲ 21.0%
Equity and liabilities €613k
Equity
€173k▼ 21.9%
Debt
€440k▲ 7.6%
The debt ratio rises from 64.9% to 71.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-11k▼
2024 · €26k
Cash flow
€-25k▼
2024 · €12k
Solvency
28.2%▼
2024 · 35.1%
Current ratio
1.62▼
2024 · 2.05
Quick ratio
1.62▼
2024 · 2.05
Debt / equity
2.55▲
2024 · 1.85
ROE
-28.1%▼
2024 · -5.3%
ROA
-7.9%▼
2024 · -1.9%
Interest coverage
-0.77▼
2024 · 1.87
Debt
€440k▲
2024 · €409k
Debt ≤ 1 year
€22k▲
2024 · €15k
Debt > 1 year
€417k▲
2024 · €394k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€630k€613k▼
Fixed assets21/28€600k€576k▼
Tangible fixed assets22/27€600k€576k▼
Land and buildings22€600k€576k▼
Current assets29/58€30k€36k▲
Amounts receivable within one year40/41€30k€36k▲
Trade receivables40€30k€36k▲
Equity and liabilities
Total equity and liabilities10/49€630k€613k▼
Equity10/15€221k€173k▼
Contributions10/11€6k€6k=
Outside capital11€6k-
Other1109/19€6k-
Revaluation surpluses12€445k€445k=
Reserves13€275€275=
Non-distributable reserves130/1€275€275=
Reserves not available under the articles1311€275€275=
Profit (loss) carried forward14€-230k€-279k▼
Amounts payable17/49€409k€440k▲
Amounts payable after more than one year17€394k€417k▲
Financial debts170/4€394k€161k▼
Other amounts payable178/9-€257k
Amounts payable within one year42/48€15k€22k▲
Current portion of amounts payable after more than one year42€6k€7k▲
Trade debts44€7k€8k▲
Suppliers440/4€7k€8k▲
Taxes, remuneration and social security45-€6k
Taxes450/3-€6k
Other amounts payable47/48€977€977=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€24k▼
Other operating charges640/8€3k€3k▼
Gross operating margin9900€29k€-8k▼
Operating profit (loss)9901€2k€-35k▼
Financial charges65/66B€14k€14k▲
Recurring financial charges65€14k€14k▲
Profit (loss) for the period before taxes9903€-12k€-49k▼
Profit (loss) for the period9904€-12k€-49k▼
Profit (loss) for the period to be appropriated9905€-12k€-49k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-230k€-279k▼
Profit (loss) brought forward from the previous period14P€-218k€-230k▼
Transfer from equity791/2-€0
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
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
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 2931current ratio 2.05
Current ratio from 0.00 to 2.05; short-term debt falls from €134k to €15k.
31-12
Financial
Equity above €200kEq €221k
Equity rises from €-212k to €221k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 121 days late
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 233 days late
2021
31-12
Financial
Weakest financial yearnet €-62k
Net result drops to €-62k, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 165 days late
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
2018
13-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 135 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Erquelinnes · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Albert Ier 310A6560 ErquelinnesGround area
509 m²
Building footprint
160 m²
Volume, LiDAR
1,318 m³
Parcel 56022B0433/00Z002, Wallonia · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
IMMHORECAS
since 20102.191.913.354
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56022B0433/00Z002 | Wallonia | 509 m² | 1 · 160 m² | 12.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 82,524 companies in sector 70200 we hold annual accounts for 52,566. 40,645 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-09-2010
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.