IMMO B
Absorbed by MAJESTIC INVESTMENTSFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-06-2026 PDF all 38 filings
Turnover
≈ €170,000
Estimated: probably between €100,000 and €300,000
Total assets
€440,248▲ 2.1%
2024 · €431,300
Net result
€5,452▼ 67.6%
2024 · €16,837
Working capital
€74,444▲ 124%
2024 · €33,274
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€7,956
▼ 66.4%
2025
20182025
Net result
€5,452
▼ 67.6%
2025
20182025
Equity
€216,640
▼ 0.1%
2025
20182025
Total assets
€440,248
▲ 2.1%
2025
20182025
Debt
€223,609
▲ 4.3%
2025
20182025
Working capital
€74,444
▲ 124%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,214-€14,433▼ 50.6%€35,401▲ 145%€28,641▼ 19.1%€15,075▼ 47.4%€19,049▲ 26.4%€23,655▲ 24.2%€7,956▼ 66.4%
Net result€24,524-€12,091▼ 50.7%€36,039▲ 198%€29,962▼ 16.9%€15,026▼ 49.9%€15,135▲ 0.7%€16,837▲ 11.2%€5,452▼ 67.6%
Equity€284,347-€296,439▲ 4.3%€332,478▲ 12.2%€217,440▼ 34.6%€217,466=€216,601▼ 0.4%€216,938▲ 0.2%€216,640▼ 0.1%
Total assets€488,189-€502,901▲ 3.0%€347,130▼ 31.0%€368,820▲ 6.2%€399,309▲ 8.3%€409,218▲ 2.5%€431,300▲ 5.4%€440,248▲ 2.1%
Debt€203,842-€206,463▲ 1.3%€14,652▼ 92.9%€151,381▲ 933%€181,844▲ 20.1%€192,616▲ 5.9%€214,362▲ 11.3%€223,609▲ 4.3%
Working capital-€58,964-€74,502€45,450▼ 39.0%-€48,217-€11,961▲ 75.2%€6,885€33,274▲ 383%€74,444▲ 124%
The operating result for 2025 is 66% lower than in 2024 and the lowest since 2018.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €440,248
Fixed assets
€155,465 ▼ 15.7%
Current assets
€284,783 ▲ 15.4%
Equity and liabilities €440,248
Equity
€216,640 ▼ 0.1%
Debt
€223,609 ▲ 4.3%
Debt's share of the balance-sheet total rises from 49.7% to 50.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€36,918▼
2024 · €52,616
Cash flow
€34,413▼
2024 · €45,798
Current ratio
1.35▲
2024 · 1.16
Debt to equity
1.03▲
2024 · 0.99
ROE
2.5%▼
2024 · 7.8%
ROA
1.2%▼
2024 · 3.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€210,339▼
2024 · €213,600
Debt > 1 year
€50=
2024 · €50
Income taxes
€2,459▼
2024 · €6,791
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,546 | €30,546 | €29,871 | €29,169 | €28,962 | €28,962 | €28,962 | €28,962 | = |
| Other operating charges640/8 | - | - | - | €6,288 | €6,726 | €7,390 | €7,677 | €4,690 | ▼ 38.9% |
| Gross operating margin9900 | €66,076 | €51,986 | €71,759 | €64,098 | €50,763 | €55,401 | €60,293 | €41,607 | ▼ 31.0% |
| Operating profit (loss)9901 | €29,214 | €14,433 | €35,401 | €28,641 | €15,075 | €19,049 | €23,655 | €7,956 | ▼ 66.4% |
| Financial income75/76B | - | - | - | €1,375 | €1 | - | - | - | - |
| Recurring financial income75 | €4,600 | €2,540 | €765 | €1,375 | €1 | - | - | - | - |
| Financial charges65/66B | - | - | - | €54 | €50 | €54 | €27 | €45 | ▲ 67.7% |
| Recurring financial charges65 | €6,890 | €3,681 | €127 | €54 | €50 | €54 | €27 | €45 | ▲ 67.7% |
| Profit (loss) for the period before taxes9903 | €26,924 | €13,291 | €36,039 | €29,962 | €15,026 | €18,995 | €23,628 | €7,911 | ▼ 66.5% |
| Income taxes67/77 | €2,400 | €1,200 | - | - | - | €3,860 | €6,791 | €2,459 | ▼ 63.8% |
| Profit (loss) for the period9904 | €24,524 | €12,091 | €36,039 | €29,962 | €15,026 | €15,135 | €16,837 | €5,452 | ▼ 67.6% |
| Profit (loss) for the period to be appropriated9905 | €24,524 | €12,091 | €36,039 | €29,962 | €15,026 | €15,135 | €16,837 | €5,452 | ▼ 67.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €488,189 | €502,901 | €347,130 | €368,820 | €399,309 | €409,218 | €431,300 | €440,248 | ▲ 2.1% |
| Fixed assets21/28 | €351,447 | €320,901 | €300,480 | €271,311 | €242,350 | €213,388 | €184,427 | €155,465 | ▼ 15.7% |
| Tangible fixed assets22/27 | €351,447 | €320,901 | €300,480 | €271,311 | €242,350 | €213,388 | €184,427 | €155,465 | ▼ 15.7% |
| Land and buildings22 | - | - | - | €271,311 | €242,350 | €213,388 | €184,427 | €155,465 | ▼ 15.7% |
| Current assets29/58 | €136,742 | €182,000 | €46,650 | €97,509 | €156,960 | €195,829 | €246,874 | €284,783 | ▲ 15.4% |
| Amounts receivable within one year40/41 | €900 | - | €10,606 | €64,432 | €146,059 | €190,554 | €246,383 | €280,377 | ▲ 13.8% |
| Trade receivables40 | - | - | - | €3,230 | €15,850 | €7,845 | €7,400 | €1,711 | ▼ 76.9% |
| Other amounts receivable41 | - | - | - | €61,202 | €130,209 | €182,709 | €238,983 | €278,666 | ▲ 16.6% |
| Cash at bank and in hand54/58 | €4,242 | €4,860 | €35,278 | €31,702 | €10,901 | €5,275 | €491 | €4,406 | ▲ 798% |
| Deferred charges and accrued income490/1 | - | - | - | €1,375 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €488,189 | €502,901 | €347,130 | €368,820 | €399,309 | €409,218 | €431,300 | €440,248 | ▲ 2.1% |
| Equity10/15 | €284,347 | €296,439 | €332,478 | €217,440 | €217,466 | €216,601 | €216,938 | €216,640 | ▼ 0.1% |
| Contributions10/11 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Capital10 | - | - | - | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | - | - | - | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Reserves13 | €218,500 | €230,500 | €265,500 | €151,500 | €151,500 | €151,500 | €151,500 | €151,500 | = |
| Non-distributable reserves130/1 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Distributable reserves133 | - | - | - | €145,000 | €145,000 | €145,000 | €145,000 | €145,000 | = |
| Profit (loss) carried forward14 | €847 | €939 | €1,978 | €940 | €966 | €101 | €438 | €140 | ▼ 68.1% |
| Amounts payable17/49 | €203,842 | €206,463 | €14,652 | €151,381 | €181,844 | €192,616 | €214,362 | €223,609 | ▲ 4.3% |
| Amounts payable after more than one year17 | €50 | €93,550 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Other amounts payable178/9 | - | - | - | €50 | €50 | €50 | €50 | €50 | = |
| Amounts payable within one year42/48 | €195,706 | €107,498 | €1,200 | €145,726 | €168,921 | €188,945 | €213,600 | €210,339 | ▼ 1.5% |
| Trade debts44 | €35 | €3,657 | - | €726 | €8,436 | €8,799 | €10,426 | €2,839 | ▼ 72.8% |
| Suppliers440/4 | - | - | - | €726 | €8,436 | €8,799 | €10,426 | €2,839 | ▼ 72.8% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €3,860 | €10,651 | €9,250 | ▼ 13.2% |
| Taxes450/3 | - | - | - | - | - | €3,860 | €10,651 | €9,250 | ▼ 13.2% |
| Other amounts payable47/48 | - | - | - | €145,000 | €160,485 | €176,286 | €192,522 | €198,250 | ▲ 3.0% |
| Accrued charges and deferred income492/3 | - | - | - | €5,605 | €12,873 | €3,622 | €713 | €13,219 | ▲ 19× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,524 | €12,091 | €36,039 | €29,962 | €15,026 | €15,135 | €16,837 | €5,452 | ▼ 67.6% |
| + Depreciation and write-downs630 | €30,546 | €30,546 | €29,871 | €29,169 | €28,962 | €28,962 | €28,962 | €28,962 | = |
| Operating cash flow (approximation) | €55,069 | €42,637 | €65,910 | €59,131 | €43,988 | €44,097 | €45,798 | €34,413 | ▼ 24.9% |
| Investment in fixed assets (approximation) | - | €0 | -€9,450 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €618 | €30,418 | -€3,576 | -€20,801 | -€5,626 | -€4,785 | €3,916 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-06-2026 | 2026-00130896 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00419702 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00368333 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00431800 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20387838 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-59800540 | |
| 31-12-2019 | micro format | 25-09-2020 | 2020-56300467 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-61500288 | |
| 31-12-2017 | micro format | 28-08-2018 | 2018-52600213 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-58300266 |