IMMO - BELOEIL
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-12-2025 PDF all 29 filings
Turnover
€91,677▲ 143%
2021 · €37,793
EBIT margin
49.7%▲ 104.9pp
2021 · -55.2%
Net result
-€13,631▼ 111%
2024 · -€6,448
Working capital
€86,433▲ 3.3%
2024 · €83,644
Multi-year overview
2019 to 2025, 6 financial yearsTurnover
no figure
2025
20192025
Operating result
-€13,437
2025
20192025
Net result
-€13,631
▼ 111%
2025
20192025
EBIT margin
no figure
2025
20192025
Equity
€357,545
▼ 3.7%
2025
20192025
Total assets
€361,587
▼ 9.8%
2025
20192025
Debt
€4,042
▼ 86.4%
2025
20192025
Working capital
€86,433
▲ 3.3%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920212022202320242025
Turnover€53,009-€37,793-€91,677▲ 143%
Operating result-€10,575--€20,862-€45,523€18,465▼ 59.4%€5,910▼ 68.0%-€13,437
Net result-€19,830--€37,500-€45,490€18,765▼ 58.7%-€6,448-€13,631▼ 111%
EBIT margin-19.9%--55.2%-49.7%▲ 104.9pp
Equity€381,038-€340,369-€385,858▲ 13.4%€404,624▲ 4.9%€371,176▼ 8.3%€357,545▼ 3.7%
Total assets€475,713-€402,479-€396,799▼ 1.4%€409,613▲ 3.2%€400,831▼ 2.1%€361,587▼ 9.8%
Debt€94,675-€62,111-€10,941▼ 82.4%€4,990▼ 54.4%€29,655▲ 494%€4,042▼ 86.4%
Working capital-€60,111--€43,851-€78,394€92,769▲ 18.3%€83,644▼ 9.8%€86,433▲ 3.3%
The operating result for 2025 is a loss of €13,437, after a profit of €5,910 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €361,587
Fixed assets
€271,112 ▼ 6.0%
Current assets
€90,475 ▼ 19.5%
Equity and liabilities €361,587
Equity
€357,545 ▼ 3.7%
Debt
€4,042 ▼ 86.4%
Debt's share of the balance-sheet total falls from 7.4% to 1.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,705▼
2024 · €29,905
Cash flow
€10,512▼
2024 · €17,547
Current ratio
22.38▲
2024 · 3.91
Debt to equity
0.01▼
2024 · 0.08
ROE
-3.8%▼
2024 · -1.7%
ROA
-3.8%▼
2024 · -1.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€4,042▼
2024 · €28,763
Income taxes
€130▼
2024 · €12,850
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €68,998 | €24,582 | - | €6,829 |
| Depreciation and write-downs of the year | €21,526 | €23,417 | €23,995 | €24,142 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €53,009 | €37,793 | €91,677 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €17,191 | - | €420 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €17,806 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,120 | €27,809 | €21,526 | €23,417 | €23,995 | €24,142 | ▲ 0.6% |
| Other operating charges640/8 | - | - | €6,822 | €6,986 | €8,728 | €8,962 | ▲ 2.7% |
| Non-recurring operating charges66A | - | - | - | €10,725 | - | - | - |
| Gross operating margin9900 | €30,173 | €14,064 | €73,871 | €59,593 | €38,632 | €19,667 | ▼ 49.1% |
| Operating profit (loss)9901 | -€10,575 | -€20,862 | €45,523 | €18,465 | €5,910 | -€13,437 | - |
| Financial income75/76B | - | - | - | €344 | €741 | €10 | ▼ 98.6% |
| Recurring financial income75 | - | - | - | €344 | €741 | €10 | ▼ 98.6% |
| Financial charges65/66B | - | - | €34 | €44 | €249 | €74 | ▼ 70.1% |
| Recurring financial charges65 | €188 | €27 | €34 | €44 | €249 | €74 | ▼ 70.1% |
| Profit (loss) for the period before taxes9903 | -€10,763 | -€20,889 | €45,490 | €18,765 | €6,402 | -€13,501 | - |
| Income taxes67/77 | €9,067 | €16,611 | €0 | - | €12,850 | €130 | ▼ 99.0% |
| Profit (loss) for the period9904 | -€19,830 | -€37,500 | €45,490 | €18,765 | -€6,448 | -€13,631 | ▼ 111% |
| Transfer from tax-exempt reserves789 | - | - | - | €15,770 | €7,885 | €7,885 | = |
| Profit (loss) for the period to be appropriated9905 | -€11,944 | -€29,614 | €45,490 | €34,536 | €1,437 | -€5,745 | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €475,713 | €402,479 | €396,799 | €409,613 | €400,831 | €361,587 | ▼ 9.8% |
| Fixed assets21/28 | €444,939 | €388,010 | €311,255 | €312,420 | €288,425 | €271,112 | ▼ 6.0% |
| Tangible fixed assets22/27 | €444,939 | €388,010 | €311,255 | €312,420 | €288,425 | €271,112 | ▼ 6.0% |
| Land and buildings22 | - | - | €311,255 | €312,420 | €288,425 | €271,112 | ▼ 6.0% |
| Current assets29/58 | €30,774 | €14,469 | €85,544 | €97,194 | €112,406 | €90,475 | ▼ 19.5% |
| Amounts receivable within one year40/41 | €7,000 | - | €9,111 | €9,532 | €18,880 | - | - |
| Trade receivables40 | - | - | €9,111 | - | €399 | - | - |
| Other amounts receivable41 | - | - | - | €9,532 | €18,481 | - | - |
| Cash at bank and in hand54/58 | €23,774 | €14,469 | €76,434 | €86,359 | €92,163 | €89,095 | ▼ 3.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1,302 | €1,363 | €1,380 | ▲ 1.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €475,713 | €402,479 | €396,799 | €409,613 | €400,831 | €361,587 | ▼ 9.8% |
| Equity10/15 | €381,038 | €340,369 | €385,858 | €404,624 | €371,176 | €357,545 | ▼ 3.7% |
| Contributions10/11 | €209,470 | €209,470 | €209,470 | €209,470 | €209,470 | €209,470 | = |
| Capital10 | - | - | €209,470 | €209,470 | €209,470 | €209,470 | = |
| Issued capital100 | - | - | €209,470 | €209,470 | €209,470 | €209,470 | = |
| Reserves13 | €185,094 | €169,324 | €169,324 | €155,281 | €147,539 | €139,654 | ▼ 5.3% |
| Non-distributable reserves130/1 | - | - | €9,738 | €11,465 | €11,609 | €11,609 | = |
| Legal reserve130 | - | - | €9,738 | €11,465 | €11,609 | €11,609 | = |
| Tax-exempt reserves132 | - | - | €149,818 | €134,048 | €126,163 | €118,277 | ▼ 6.3% |
| Distributable reserves133 | - | - | €9,768 | €9,768 | €9,768 | €9,768 | = |
| Profit (loss) carried forward14 | -€13,527 | -€38,425 | €7,064 | €39,873 | €14,167 | €8,421 | ▼ 40.6% |
| Amounts payable17/49 | €94,675 | €62,111 | €10,941 | €4,990 | €29,655 | €4,042 | ▼ 86.4% |
| Amounts payable after more than one year17 | €3,790 | €3,790 | €3,790 | - | - | - | - |
| Other amounts payable178/9 | - | - | €3,790 | - | - | - | - |
| Amounts payable within one year42/48 | €90,885 | €58,321 | €7,151 | €4,425 | €28,763 | €4,042 | ▼ 85.9% |
| Trade debts44 | - | - | - | €4,425 | €11 | €548 | ▲ 51× |
| Suppliers440/4 | - | - | - | €4,425 | €11 | €548 | ▲ 51× |
| Taxes, remuneration and social security45 | - | - | €7,151 | - | €1,752 | €3,330 | ▲ 90.1% |
| Taxes450/3 | - | - | - | - | €1,752 | €3,330 | ▲ 90.1% |
| Remuneration and social security454/9 | - | - | €7,151 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €27,000 | €164 | ▼ 99.4% |
| Accrued charges and deferred income492/3 | - | - | - | €565 | €893 | - | - |
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,830 | -€37,500 | €45,490 | €18,765 | -€6,448 | -€13,631 | ▼ 111% |
| + Depreciation and write-downs630 | €29,120 | €27,809 | €21,526 | €23,417 | €23,995 | €24,142 | ▲ 0.6% |
| Operating cash flow (approximation) | €9,290 | -€9,691 | €67,015 | €42,182 | €17,547 | €10,512 | ▼ 40.1% |
| Investment in fixed assets (approximation) | - | - | €55,230 | -€24,582 | €0 | -€6,829 | - |
| Change in cash | - | - | €61,964 | €9,925 | €5,805 | -€3,068 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as IMMO - BELOEIL has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMO - BELOEIL itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for IMMO - BELOEIL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 16-12-2025 | 2025-00588600 | |
| 30-06-2024 | micro format | 17-12-2024 | 2024-00620889 | |
| 30-06-2023 | micro format | 23-01-2024 | 2024-00005851 | |
| 30-06-2022 | full format | 27-02-2023 | 2023-00035919 | |
| 30-06-2021 | full format | 27-01-2022 | 2022-02100539 | |
| 30-06-2019 | full format | 11-11-2020 | 2020-69900422 | |
| 30-06-2018 | full format | 11-03-2019 | 2019-06700123 | |
| 30-06-2017 | full format | 21-11-2018 | 2018-72500589 | |
| 30-06-2016 | full format | 26-01-2018 | 2018-02400273 | |
| 30-06-2015 | full format | 07-12-2015 | 2015-68200418 |