IMMO - 47
ActiveSummary
IMMO - 47 has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.59M and a net result of €245k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 52% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+2
Solvency66▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €230k at 30 days acceptable
Liquidity short (current ratio 0.83 against 0.87 in 2024; short-term debt: 19.4% and cash: 0.7% of total assets), and 59.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 · 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 · 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
40.7%
Return on assets
2.8%
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 07-09-2026, 38 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
38 d late
2024
70 d late
2023
35 d late
2022
92 d late
2021
38 d late
2020
17 d early
2019
15 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€245k▲ 853%
2024 · €26k
2018: €87k
2019: €10k▼ -88.2% vs 2018
2020: €180k▲ +1659% vs 2019
2021: €-63k▼ -135% vs 2020
2022: €850k▲ +1438% vs 2021highest in 8 years
2023: €-136k▼ -116% vs 2022lowest in 8 years
2024: €26k▲ +119% vs 2023
2025: €245k▲ +853% vs 2024
2018 → 2025
Working capital
€-289k▼ 78.4%
2024 · €-162k
2018: €-238k
2019: €-241k▼ -1.5% vs 2018
2020: €-236k▲ +2.4% vs 2019
2021: €280k▲ +219% vs 2020
2022: €348k▲ +24.5% vs 2021
2023: €452k▲ +29.9% vs 2022highest in 8 years
2024: €-162k▼ -136% vs 2023
2025: €-289k▼ -78.4% vs 2024lowest 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€2.85M-€3.70M▲ 29.8%€3.57M▼ 3.7%€3.34M▼ 6.2%€3.59M▲ 7.3%
2021: €2.85Mlowest in 5 years
2022: €3.70M▲ +29.8% vs 2021highest in 5 years
2023: €3.57M▼ -3.7% vs 2022
2024: €3.34M▼ -6.2% vs 2023
2025: €3.59M▲ +7.3% vs 2024
Operating result€458k-€1.61M▲ 252%€196k▼ 87.8%€145k▼ 26.0%€163k▲ 12.0%
2021: €458k
2022: €1.61M▲ +252% vs 2021highest in 5 years
2023: €196k▼ -87.8% vs 2022
2024: €145k▼ -26.0% vs 2023lowest in 5 years
2025: €163k▲ +12.0% vs 2024
Net result€-63k-€850k€-136k€26k€245k▲ 853%
2021: €-63k
2022: €850k▲ +1438% vs 2021highest in 5 years
2023: €-136k▼ -116% vs 2022lowest in 5 years
2024: €26k▲ +119% vs 2023
2025: €245k▲ +853% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 12% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.82M
Fixed assets
€7.40M ▼ 1.0%
Current assets
€1.42M ▲ 36.5%
Equity and liabilities €8.82M
Equity
€3.59M ▲ 7.3%
Provisions
€360k =
Debt
€4.87M ▲ 1.2%
Debt's share of the balance-sheet total falls from 56.5% to 55.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€301k▲
2024 · €287k
Cash flow
€383k▲
2024 · €167k
Current ratio
0.83▼
2024 · 0.87
Debt to equity
1.36▼
2024 · 1.44
ROE
6.8%▲
2024 · 0.8%
ROA
2.8%▲
2024 · 0.3%
Interest coverage
1.37▼
2024 · 1.53
Debt ≤ 1 year
€1.71M▲
2024 · €1.20M
Debt > 1 year
€3.05M▼
2024 · €3.57M
Income taxes
€-156k▼
2024 · €-67k
Staff costs
€91k▲
2024 · €75k
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 · 60 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8.52M€8.82M▲
Fixed assets21/28€7.48M€7.40M▼
Intangible fixed assets21€3k€3k=
Tangible fixed assets22/27€6.52M€6.44M▼
Land and buildings22€6.24M€6.21M▼
Plant, machinery and equipment23€277k€228k▼
Furniture and vehicles24€5k€4k▼
Financial fixed assets28€952k€952k=
Current assets29/58€1.04M€1.42M▲
Amounts receivable after more than one year29€28k€8k▼
Trade receivables290€28k€8k▼
Amounts receivable within one year40/41€951k€1.26M▲
Trade receivables40€197k€253k▲
Other amounts receivable41€755k€1.01M▲
Cash at bank and in hand54/58€46k€62k▲
Deferred charges and accrued income490/1€14k€85k▲
Equity and liabilities
Total equity and liabilities10/49€8.52M€8.82M▲
Equity10/15€3.34M€3.59M▲
Contributions10/11€1.71M€1.71M=
Capital10€1.71M€1.71M=
Issued capital100€1.71M€1.71M=
Reserves13€1.52M€1.52M=
Non-distributable reserves130/1€229k€229k=
Legal reserve130€220k€220k=
Reserves not available under the articles1311€10k€10k=
Tax-exempt reserves132€1.07M€1.07M=
Distributable reserves133€220k€220k=
Profit (loss) carried forward14€117k€362k▲
Provisions and deferred taxes16€360k€360k=
Deferred taxes168€360k€360k=
Amounts payable17/49€4.81M€4.87M▲
Amounts payable after more than one year17€3.57M€3.05M▼
Financial debts170/4€3.57M€3.05M▼
Amounts payable within one year42/48€1.20M€1.71M▲
Current portion of amounts payable after more than one year42€518k€512k▼
Trade debts44€336k€409k▲
Suppliers440/4€336k€409k▲
Taxes, remuneration and social security45€33k€71k▲
Taxes450/3€23k€56k▲
Remuneration and social security454/9€10k€15k▲
Other amounts payable47/48€314k€715k▲
Accrued charges and deferred income492/3€45k€109k▲
Income statement
Code20242025
Non-recurring operating income76A€0€61k▲
Remuneration, social security and pensions62€75k€91k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€142k€138k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€-19k
Other operating charges640/8€52k€54k▲
Gross operating margin9900€414k€428k▲
Operating profit (loss)9901€145k€163k▲
Financial income75/76B€1k€146k▲
Recurring financial income75€1k€146k▲
Financial charges65/66B€188k€219k▲
Recurring financial charges65€188k€219k▲
Profit (loss) for the period before taxes9903€-42k€89k▲
Income taxes67/77€-67k€-156k▼
Profit (loss) for the period9904€26k€245k▲
Profit (loss) for the period to be appropriated9905€26k€245k▲
Appropriation of the result
Profit (loss) to be appropriated9906€117k€362k▲
Profit (loss) brought forward from the previous period14P€92k€117k▲
Social balance
Average headcount (FTE)90872.12.0▼
The notes to these accounts (24 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 | €513k | €1.62M | €333k | €0 | €61k | - |
| Remuneration, social security and pensions62 | €109k | €112k | €104k | €75k | €91k | ▲ 21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €272k | €310k | €310k | €142k | €138k | ▼ 2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €37k | €0 | - | €-19k | - |
| Other operating charges640/8 | €154k | €39k | €37k | €52k | €54k | ▲ 3.5% |
| Non-recurring operating charges66A | €7k | €16k | €0 | - | - | - |
| Gross operating margin9900 | €999k | €2.13M | €648k | €414k | €428k | ▲ 3.2% |
| Operating profit (loss)9901 | €458k | €1.61M | €196k | €145k | €163k | ▲ 12.0% |
| Financial income75/76B | €6k | €4k | €1k | €1k | €146k | ▲ 13,981% |
| Recurring financial income75 | €6k | €4k | €1k | €1k | €146k | ▲ 13,981% |
| Financial charges65/66B | €174k | €175k | €187k | €188k | €219k | ▲ 16.7% |
| Recurring financial charges65 | €174k | €175k | €187k | €188k | €219k | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €290k | €1.44M | €11k | €-42k | €89k | ▲ 314% |
| Transfer to deferred taxes680 | - | €360k | €0 | - | - | - |
| Income taxes67/77 | €353k | €231k | €147k | €-67k | €-156k | ▼ 131% |
| Profit (loss) for the period9904 | €-63k | €850k | €-136k | €26k | €245k | ▲ 853% |
| Transfer to tax-exempt reserves689 | - | €1.08M | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-63k | €-230k | €-136k | €26k | €245k | ▲ 853% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.60M | €9.84M | €9.16M | €8.52M | €8.82M | ▲ 3.5% |
| Fixed assets21/28 | €7.84M | €8.25M | €7.61M | €7.48M | €7.40M | ▼ 1.0% |
| Intangible fixed assets21 | €3k | €3k | €3k | €3k | €3k | = |
| Tangible fixed assets22/27 | €6.89M | €7.30M | €6.65M | €6.52M | €6.44M | ▼ 1.2% |
| Land and buildings22 | €6.70M | €7.05M | €6.39M | €6.24M | €6.21M | ▼ 0.5% |
| Plant, machinery and equipment23 | €187k | €241k | €259k | €277k | €228k | ▼ 17.7% |
| Furniture and vehicles24 | - | €6k | €6k | €5k | €4k | ▼ 13.4% |
| Financial fixed assets28 | €952k | €952k | €952k | €952k | €952k | = |
| Current assets29/58 | €1.76M | €1.58M | €1.55M | €1.04M | €1.42M | ▲ 36.5% |
| Amounts receivable after more than one year29 | €83k | €65k | €46k | €28k | €8k | ▼ 70.3% |
| Trade receivables290 | €83k | €65k | €46k | €28k | €8k | ▼ 70.3% |
| Amounts receivable within one year40/41 | €1.52M | €1.45M | €1.46M | €951k | €1.26M | ▲ 32.8% |
| Trade receivables40 | €744k | €435k | €201k | €197k | €253k | ▲ 28.6% |
| Other amounts receivable41 | €775k | €1.02M | €1.26M | €755k | €1.01M | ▲ 33.9% |
| Cash at bank and in hand54/58 | €94k | €36k | €32k | €46k | €62k | ▲ 33.5% |
| Deferred charges and accrued income490/1 | €66k | €30k | €13k | €14k | €85k | ▲ 505% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.60M | €9.84M | €9.16M | €8.52M | €8.82M | ▲ 3.5% |
| Equity10/15 | €2.85M | €3.70M | €3.57M | €3.34M | €3.59M | ▲ 7.3% |
| Contributions10/11 | €1.82M | €1.82M | €1.82M | €1.71M | €1.71M | = |
| Capital10 | €1.82M | €1.82M | €1.82M | €1.71M | €1.71M | = |
| Issued capital100 | €1.82M | €1.82M | €1.82M | €1.71M | €1.71M | = |
| Reserves13 | €570k | €1.65M | €1.65M | €1.52M | €1.52M | = |
| Non-distributable reserves130/1 | €229k | €229k | €229k | €229k | €229k | = |
| Legal reserve130 | €220k | €220k | €220k | €220k | €220k | = |
| Reserves not available under the articles1311 | €10k | €10k | €10k | €10k | €10k | = |
| Tax-exempt reserves132 | €84k | €1.16M | €1.16M | €1.07M | €1.07M | = |
| Distributable reserves133 | €256k | €256k | €256k | €220k | €220k | = |
| Profit (loss) carried forward14 | €457k | €228k | €92k | €117k | €362k | ▲ 209% |
| Provisions and deferred taxes16 | - | €360k | €360k | €360k | €360k | = |
| Deferred taxes168 | - | €360k | €360k | €360k | €360k | = |
| Amounts payable17/49 | €6.75M | €5.78M | €5.24M | €4.81M | €4.87M | ▲ 1.2% |
| Amounts payable after more than one year17 | €5.20M | €4.48M | €4.08M | €3.57M | €3.05M | ▼ 14.4% |
| Financial debts170/4 | €5.20M | €4.48M | €4.08M | €3.57M | €3.05M | ▼ 14.4% |
| Amounts payable within one year42/48 | €1.48M | €1.23M | €1.10M | €1.20M | €1.71M | ▲ 42.1% |
| Current portion of amounts payable after more than one year42 | €410k | €454k | €511k | €518k | €512k | ▼ 1.2% |
| Trade debts44 | €622k | €390k | €274k | €336k | €409k | ▲ 21.7% |
| Suppliers440/4 | €622k | €390k | €274k | €336k | €409k | ▲ 21.7% |
| Taxes, remuneration and social security45 | €446k | €391k | €229k | €33k | €71k | ▲ 114% |
| Taxes450/3 | €441k | €379k | €214k | €23k | €56k | ▲ 140% |
| Remuneration and social security454/9 | €6k | €12k | €15k | €10k | €15k | ▲ 52.7% |
| Other amounts payable47/48 | €4k | €0 | €87k | €314k | €715k | ▲ 128% |
| Accrued charges and deferred income492/3 | €68k | €60k | €53k | €45k | €109k | ▲ 140% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-63k | €850k | €-136k | €26k | €245k | ▲ 853% |
| + Depreciation and write-downs630 | €272k | €310k | €310k | €142k | €138k | ▼ 2.5% |
| Operating cash flow (approximation) | €208k | €1.16M | €174k | €167k | €383k | ▲ 129% |
| Investment in fixed assets (approximation) | - | €-721k | €333k | €-10k | €-60k | ▼ 489% |
| Change in cash | - | €-58k | €-4k | €15k | €15k | ▲ 5.8% |
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
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 38 days late
2025
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 70 days late
2024
31-12
Financial
Back to profitnet €26k
Net result €26k after one loss-making year.
04-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 35 days late
2023
31-12
Financial
Weakest financial yearnet €-136k
Net result drops to €-136k, the lowest in the series; recovery starts the following year.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 92 days late
2022
31-12
Financial
Back to profitnet €850k
Net result €850k after one loss-making year.
07-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 38 days late
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2MEq €2.05M ▲9.6%
3 profitable years in a row build equity to €2.05M.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 44 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
12 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, Lokeren · 1 establishment unit since 1978
Ground area
4.1 ha
Building footprint
2.9 ha
Volume, LiDAR
213,770 m³
Parcel 46383D1240/00W000, Flanders · tallest building 21.8 m, ±2 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Gentse Steenweg 136, 9160 Lokeren
since 19782.014.438.491
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46383D1240/00W000 | Flanders | 4.1 ha | 1 · 2.9 ha | 21.8 m · 2 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
2023 · 1 entry · 276 EUR awarded · 276 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 276 EUR | 276 EUR |
Schemes
Subsidie beheer GBN
Similar companies · same sector, comparable size
Imgeco
BE 0401.969.978
Elsene · Eq €3,589,097
ANKRI
BE 0433.215.262
Gent · Eq €3,590,999
LEOPOLD SQUARE
BE 0465.387.588
Sint-Pieters-Woluwe · Eq €3,591,146
PSME
BE 0891.000.032
Ronse · Eq €3,596,347
IMMODEC - NAMUR
BE 0458.677.267
Namur · Eq €3,598,699
Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 3,602 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded07-01-1978
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
02400Forestry and logging
Scores and ratios are computed by Checked and are not a credit decision.