IMMO APPELS
ActiveSummary
IMMO APPELS has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.43M and a net result of €126k. Equity is growing by ~4.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+16
Solvency96▲+6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 2.41 against 2.06 in 2024; short-term debt: 23.3% and cash: 1.3% of total assets), and 29.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 · 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
70.6%
Return on assets
1.2%
Age of the figures
13 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 05-06-2026, 66 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
66 d late
2024
18 d early
2023
34 d early
2022
43 d early
2021
28 d early
2020
36 d early
2019
33 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 31-08-2026 and is due by 31-03-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-08-2026 close25-09-2026 today31-03-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€126k▲ 67.4%
2024 · €75k
Working capital
€3.47M▲ 10.1%
2024 · €3.15M
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€539k▼ 81.5%€563k▲ 4.5%€776k▲ 37.7%€299k▼ 61.5%€316k▲ 5.9%
Net result€267k▼ 90.0%€304k▲ 14.1%€446k▲ 46.7%€75k▼ 83.2%€126k▲ 67.4%
Equity€6.48M▲ 4.3%€6.78M▲ 4.7%€7.23M▲ 6.6%€7.31M▲ 1.0%€7.43M▲ 1.7%
Total assets€14.02M▼ 4.1%€13.13M▼ 6.3%€12.11M▼ 7.8%€11.28M▼ 6.9%€10.53M▼ 6.7%
Debt€6.99M▼ 10.4%€5.84M▼ 16.4%€4.42M▼ 24.3%€3.56M▼ 19.5%€2.72M▼ 23.4%
Working capital€29k€587k▲ 1,949%€2.90M▲ 393%€3.15M▲ 8.7%€3.47M▲ 10.1%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 6% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.53M
Fixed assets
€4.61M ▼ 10.9%
Current assets
€5.92M ▼ 3.0%
Equity and liabilities €10.53M
Equity
€7.43M ▲ 1.7%
Provisions
€372k ▼ 10.6%
Debt
€2.72M ▼ 23.4%
Debt's share of the balance-sheet total falls from 31.5% to 25.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€882k▲
2024 · €865k
Cash flow
€692k▲
2024 · €641k
Current ratio
2.41▲
2024 · 2.06
Debt to equity
0.37▼
2024 · 0.49
ROE
1.7%▲
2024 · 1.0%
ROA
1.2%▲
2024 · 0.7%
Interest coverage
6.14▲
2024 · 4.17
Debt ≤ 1 year
€2.45M▼
2024 · €2.96M
Debt > 1 year
€271k▼
2024 · €600k
Income taxes
€94k▲
2024 · €65k
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €436k | €605 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €744k | €748k | €571k | €566k | €566k | = |
| Other operating charges640/8 | - | €77k | €76k | €60k | €64k | ▲ 6.6% |
| Gross operating margin9900 | €1.34M | €1.39M | €1.42M | €924k | €946k | ▲ 2.4% |
| Operating profit (loss)9901 | €539k | €563k | €776k | €299k | €316k | ▲ 5.9% |
| Financial income75/76B | - | €100 | €1k | €5k | €3k | ▼ 41.4% |
| Recurring financial income75 | €1k | €100 | €1k | €5k | €3k | ▼ 41.4% |
| Financial charges65/66B | - | €150k | €176k | €207k | €144k | ▼ 30.6% |
| Recurring financial charges65 | €180k | €150k | €176k | €207k | €144k | ▼ 30.6% |
| Profit (loss) for the period before taxes9903 | €360k | €414k | €601k | €97k | €176k | ▲ 81.8% |
| Transfer from deferred taxes780 | - | €44k | €44k | €44k | €44k | = |
| Income taxes67/77 | €146k | €153k | €199k | €65k | €94k | ▲ 43.5% |
| Profit (loss) for the period9904 | €267k | €304k | €446k | €75k | €126k | ▲ 67.4% |
| Transfer from tax-exempt reserves789 | - | €132k | €132k | €132k | €132k | = |
| Profit (loss) for the period to be appropriated9905 | €390k | €436k | €578k | €207k | €257k | ▲ 24.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.02M | €13.13M | €12.11M | €11.28M | €10.53M | ▼ 6.7% |
| Fixed assets21/28 | €8.70M | €7.95M | €5.72M | €5.17M | €4.61M | ▼ 10.9% |
| Tangible fixed assets22/27 | €8.70M | €7.95M | €5.72M | €5.17M | €4.61M | ▼ 10.9% |
| Land and buildings22 | - | €7.95M | €5.72M | €5.17M | €4.61M | ▼ 10.9% |
| Current assets29/58 | €5.32M | €5.18M | €6.39M | €6.11M | €5.92M | ▼ 3.0% |
| Amounts receivable within one year40/41 | €5.14M | €5.18M | €6.36M | €6.01M | €5.78M | ▼ 3.9% |
| Trade receivables40 | - | €35k | €18k | €32k | €32k | ▼ 0.7% |
| Other amounts receivable41 | - | €5.14M | €6.34M | €5.98M | €5.75M | ▼ 3.9% |
| Cash at bank and in hand54/58 | €177k | €846 | €36k | €92k | €134k | ▲ 46.4% |
| Deferred charges and accrued income490/1 | - | - | €2k | €2k | €6k | ▲ 142% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.02M | €13.13M | €12.11M | €11.28M | €10.53M | ▼ 6.7% |
| Equity10/15 | €6.48M | €6.78M | €7.23M | €7.31M | €7.43M | ▲ 1.7% |
| Contributions10/11 | €155k | €155k | €155k | €155k | €155k | = |
| Capital10 | - | €155k | €155k | €155k | €155k | = |
| Issued capital100 | - | €155k | €155k | €155k | €155k | = |
| Reserves13 | €1.11M | €979k | €847k | €716k | €584k | ▼ 18.4% |
| Non-distributable reserves130/1 | - | €16k | €16k | €16k | €16k | = |
| Legal reserve130 | - | €16k | €16k | €16k | €16k | = |
| Tax-exempt reserves132 | - | €908k | €777k | €645k | €513k | ▼ 20.4% |
| Distributable reserves133 | - | €55k | €55k | €55k | €55k | = |
| Profit (loss) carried forward14 | €5.21M | €5.65M | €6.23M | €6.44M | €6.69M | ▲ 4.0% |
| Provisions and deferred taxes16 | €547k | €503k | €460k | €416k | €372k | ▼ 10.6% |
| Deferred taxes168 | - | €503k | €460k | €416k | €372k | ▼ 10.6% |
| Amounts payable17/49 | €6.99M | €5.84M | €4.42M | €3.56M | €2.72M | ▼ 23.4% |
| Amounts payable after more than one year17 | €1.66M | €1.22M | €914k | €600k | €271k | ▼ 54.7% |
| Financial debts170/4 | - | €1.22M | €912k | €598k | €269k | ▼ 54.9% |
| Other amounts payable178/9 | - | €2k | €2k | €2k | €2k | = |
| Amounts payable within one year42/48 | €5.29M | €4.59M | €3.50M | €2.96M | €2.45M | ▼ 17.1% |
| Current portion of amounts payable after more than one year42 | - | €293k | €304k | €314k | €328k | ▲ 4.3% |
| Financial debts43 | - | €4.10M | €2.97M | €2.47M | €1.97M | ▼ 20.6% |
| Credit institutions430/8 | - | €4.10M | €2.97M | €2.47M | €1.97M | ▼ 20.6% |
| Trade debts44 | €58k | €96k | €149k | €144k | €134k | ▼ 7.0% |
| Suppliers440/4 | - | €96k | €149k | €144k | €134k | ▼ 7.0% |
| Taxes, remuneration and social security45 | - | €104k | €74k | €26k | €26k | ▼ 0.5% |
| Taxes450/3 | - | €104k | €74k | €26k | €26k | ▼ 0.5% |
| Other amounts payable47/48 | - | - | €0 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €34k | €10k | €0 | €0 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €267k | €304k | €446k | €75k | €126k | ▲ 67.4% |
| + Depreciation and write-downs630 | €744k | €748k | €571k | €566k | €566k | = |
| Operating cash flow (approximation) | €1.01M | €1.05M | €1.02M | €641k | €692k | ▲ 7.9% |
| Investment in fixed assets (approximation) | - | €0 | €1.66M | €-20k | €0 | ▲ 100% |
| Change in cash | - | €-177k | €35k | €56k | €43k | ▼ 23.4% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 66 days late
2025
13-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-08
Financial
Weakest financial yearnet €75k ▼83.2%
Net result drops to €75k, the lowest in the series; recovery starts the following year.
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
16-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
03-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-08
Financial
Highest result since 2019net €2.67M ▲1,318%
Operating result €2.91M, net result €2.67M, both a record.
31-08
Financial
Equity above €5MEq €6.21M ▲75.5%
2 profitable years in a row build equity to €6.21M.
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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 1993
Ground area
1,231 m²
Building footprint
723 m²
Volume, LiDAR
12,218 m³
Parcel 21812N0562/00K000, Brussels · tallest building 21.1 m, ±6 floors. Linked by address, not a title deed.
17
companies at this address
See who is registered here
1 establishment unit
Zaterdagplein 1, 1000 Brussel
since 19932.061.531.595
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N0562/00K000 | Brussels | 1,230 m² | 1 · 723 m² | 21.1 m · 6 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.
Recognitions · licences · registrations
Legal Entity Identifier
984500949CY5580QE932
Identification & contact
Identification
Legal formPublic limited company
Founded09-02-1993
Fiscal year end31-08
Scores and ratios are computed by Checked and are not a credit decision.