IMMO AC
ActiveSummary
IMMO AC has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.00M and a net result of €15k. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 42% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+3
Solvency55▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.43 in 2024; short-term debt: 18.6% and cash: 0% of total assets), and 70% of the assets are financed with debt.
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Signals
Six 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 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
30%
Return on assets
0.4%
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
21 d late
2023
22 d late
2022
29 d late
2021
31 d late
2020
19 d late
2019
12 d late
← 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
History
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€15k
2024 · €-8k
Working capital
€-414k▼ 14.9%
2024 · €-360k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€308k▲ 13.0%€232k▼ 24.7%€85k▼ 63.4%€140k▲ 64.7%€145k▲ 3.4%
Net result€140k▲ 31.4%€95k▼ 32.5%€-106k€-8k▲ 92.9%€15k
Equity€1.01M▲ 16.2%€1.10M▲ 9.4%€996k▼ 9.7%€988k▼ 0.8%€1.00M▲ 1.5%
Total assets€3.51M▼ 3.0%€3.72M▲ 6.2%€4.18M▲ 12.2%€3.56M▼ 14.7%€3.34M▼ 6.1%
Debt€2.50M▼ 9.1%€2.62M▲ 4.9%€3.18M▲ 21.4%€2.57M▼ 19.1%€2.34M▼ 9.1%
Working capital€-402k▼ 7.9%€-648k▼ 61.3%€-181k▲ 72.1%€-360k▼ 98.8%€-414k▼ 14.9%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.34M
Fixed assets
€3.14M ▼ 4.5%
Current assets
€206k ▼ 25.2%
Equity and liabilities €3.34M
Equity
€1.00M ▲ 1.5%
Debt
€2.34M ▼ 9.1%
Debt's share of the balance-sheet total falls from 72.3% to 70.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€310k▲
2024 · €303k
Cash flow
€180k▲
2024 · €156k
Current ratio
0.33▼
2024 · 0.43
Debt to equity
2.33▼
2024 · 2.61
ROE
1.5%▲
2024 · -0.8%
ROA
0.4%▲
2024 · -0.2%
Interest coverage
2.38▲
2024 · 2.05
Debt ≤ 1 year
€620k▼
2024 · €636k
Debt > 1 year
€1.72M▼
2024 · €1.94M
Income taxes
€0▲
2024 · €-119
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €126k | €131k | €154k | €163k | €165k | ▲ 0.9% |
| Other operating charges640/8 | €23k | €23k | €27k | €29k | €28k | ▼ 0.6% |
| Gross operating margin9900 | €457k | €386k | €266k | €332k | €338k | ▲ 1.8% |
| Operating profit (loss)9901 | €308k | €232k | €85k | €140k | €145k | ▲ 3.4% |
| Financial income75/76B | €0 | - | - | €35 | €0 | ▼ 100.0% |
| Recurring financial income75 | €0 | - | - | €35 | €0 | ▼ 100.0% |
| Financial charges65/66B | €117k | €103k | €191k | €148k | €130k | ▼ 12.0% |
| Recurring financial charges65 | €117k | €103k | €191k | €148k | €130k | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €191k | €129k | €-106k | €-8k | €15k | ▲ 291% |
| Income taxes67/77 | €51k | €34k | €0 | €-119 | €0 | ▲ 100% |
| Profit (loss) for the period9904 | €140k | €95k | €-106k | €-8k | €15k | ▲ 294% |
| Profit (loss) for the period to be appropriated9905 | €140k | €95k | €-106k | €-8k | €15k | ▲ 294% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.51M | €3.72M | €4.18M | €3.56M | €3.34M | ▼ 6.1% |
| Fixed assets21/28 | €3.32M | €3.36M | €3.38M | €3.29M | €3.14M | ▼ 4.5% |
| Tangible fixed assets22/27 | €3.32M | €3.35M | €3.37M | €3.28M | €3.13M | ▼ 4.6% |
| Land and buildings22 | €3.32M | €3.19M | €3.07M | €2.95M | €2.82M | ▼ 4.2% |
| Plant, machinery and equipment23 | €10k | €158k | €303k | €335k | €308k | ▼ 7.9% |
| Financial fixed assets28 | - | €5k | €5k | €5k | €5k | = |
| Current assets29/58 | €181k | €367k | €798k | €276k | €206k | ▼ 25.2% |
| Amounts receivable within one year40/41 | €23k | €27k | €6k | €3k | €2k | ▼ 30.3% |
| Trade receivables40 | €23k | €27k | €6k | €3k | €2k | ▼ 30.3% |
| Cash at bank and in hand54/58 | €148k | €283k | €531k | €0 | €1k | - |
| Deferred charges and accrued income490/1 | €9k | €57k | €261k | €273k | €203k | ▼ 25.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.51M | €3.72M | €4.18M | €3.56M | €3.34M | ▼ 6.1% |
| Equity10/15 | €1.01M | €1.10M | €996k | €988k | €1.00M | ▲ 1.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Profit (loss) carried forward14 | €939k | €1.03M | €927k | €920k | €934k | ▲ 1.6% |
| Amounts payable17/49 | €2.50M | €2.62M | €3.18M | €2.57M | €2.34M | ▼ 9.1% |
| Amounts payable after more than one year17 | €1.89M | €1.58M | €2.15M | €1.94M | €1.72M | ▼ 11.3% |
| Financial debts170/4 | €1.89M | €1.58M | €2.15M | €1.94M | €1.72M | ▼ 11.3% |
| Amounts payable within one year42/48 | €582k | €1.01M | €979k | €636k | €620k | ▼ 2.5% |
| Current portion of amounts payable after more than one year42 | €363k | €381k | €252k | €210k | €218k | ▲ 4.0% |
| Financial debts43 | - | - | - | €5k | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €5k | €0 | ▼ 100% |
| Trade debts44 | €47 | €39k | €53k | €25k | €55k | ▲ 119% |
| Suppliers440/4 | €47 | €39k | €53k | €25k | €55k | ▲ 119% |
| Taxes, remuneration and social security45 | €134k | €97k | €35k | €5k | €1k | ▼ 74.7% |
| Taxes450/3 | €134k | €97k | €35k | €5k | €1k | ▼ 74.7% |
| Other amounts payable47/48 | €85k | €498k | €639k | €391k | €345k | ▼ 11.7% |
| Accrued charges and deferred income492/3 | €28k | €25k | €53k | €0 | €703 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €140k | €95k | €-106k | €-8k | €15k | ▲ 294% |
| + Depreciation and write-downs630 | €126k | €131k | €154k | €163k | €165k | ▲ 0.9% |
| Operating cash flow (approximation) | €266k | €226k | €48k | €156k | €180k | ▲ 15.2% |
| Investment in fixed assets (approximation) | - | €-162k | €-176k | €-72k | €-16k | ▲ 78.4% |
| Change in cash | - | €135k | €248k | €-531k | €1k | ▲ 100% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €15k
Net result €15k after 2 loss-making years.
31-12
Financial
Equity above €1MEq €1.00M ▲1.5%
Equity rises from €988k to €1.00M.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 21 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 22 days late
2023
31-12
Financial
Weakest financial yearnet €-106k
Net result drops to €-106k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €140k ▲31.4%
Operating result €308k, net result €140k, both a record.
31-12
Financial
Equity above €1MEq €1.01M ▲16.2%
4 profitable years in a row build equity to €1.01M.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 19 days late
2020
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 12 days late
Show earlier events
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-07
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 11 acts read
About the unread acts
We know of 11 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
11 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, Brussel · 1 establishment unit since 2005
Ground area
2,650 m²
Building footprint
2,445 m²
Volume, LiDAR
61,106 m³
2 parcels, Brussels · tallest building 36.2 m, ±10 floors. Linked by address, not a title deed.
51
companies at this address
See who is registered here
1 establishment unit
IMMO AC
since 20052.148.339.568
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21014A0004/00Y018 | Brussels | 2,230 m² | 1 · 2,026 m² | 36.2 m · 10 fl. |
| 21807G0180/00P004 | Brussels | 420 m² | 1 · 419 m² | 26.2 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900U69SQNEJY1X461
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 3,910 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
Founded07-06-2005
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.