IMMO BELUX
ActiveSummary
IMMO BELUX has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.00M and a net result of €-176k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 82% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability13=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity short (current ratio 0.92 against 0.6 in 2024; short-term debt: 12% and cash: 10.8% of total assets), and 23.8% of the assets are financed with debt.
Credit advice 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 · 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
Sector 68
lower
← 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
76.2%
Return on assets
-4.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-176k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
61 d late
2023
30 d late
2022
5 d early
2021
4 d early
2020
4 d early
2019
31 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€3.00M▼ 5.6%
2024 · €3.17M
2018: €3.39M
2019: €3.23M
2020: €3.11M
2021: €3.29M
2022: €3.61M
2023: €3.38M
2024: €3.17M
2018 → 2025
Total assets
€3.93M▼ 7.1%
2024 · €4.24M
2018: €4.79M
2019: €4.58M
2020: €4.50M
2021: €4.55M
2022: €4.81M
2023: €4.45M
2024: €4.24M
2018 → 2025
Net result
€-176k▲ 12.5%
2024 · €-202k
2018: €-140k
2019: €-158k
2020: €-124k
2021: €178k
2022: €318k
2023: €-231k
2024: €-202k
2018 → 2025
Working capital
€-36k▲ 77.0%
2024 · €-155k
2018: €-253k
2019: €-353k
2020: €-411k
2021: €-184k
2022: €217k
2023: €-37k
2024: €-155k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.29M-€3.61M▲ 9.7%€3.38M▼ 6.4%€3.17M▼ 6.0%€3.00M▼ 5.6%
Operating result€173k-€357k▲ 107%€-233k€-199k▲ 15.0%€-226k▼ 13.8%
Net result€178k-€318k▲ 78.9%€-231k€-202k▲ 12.8%€-176k▲ 12.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €226k in 2025 against €199k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.93M
Fixed assets
€3.50M ▼ 12.6%
Current assets
€438k ▲ 84.9%
Equity and liabilities €3.93M
Equity
€3.00M ▼ 5.6%
Provisions
€451k ▼ 29.9%
Debt
€485k ▲ 15.9%
Debt's share of the balance-sheet total rises from 9.9% to 12.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-64k▼
2024 · €-34k
Cash flow
€-14k▲
2024 · €-37k
Current ratio
0.92▲
2024 · 0.60
Debt to equity
0.16▲
2024 · 0.13
ROE
-5.9%▲
2024 · -6.4%
ROA
-4.5%▲
2024 · -4.8%
Interest coverage
-2.78▼
2024 · -1.34
Debt ≤ 1 year
€474k▲
2024 · €392k
Debt > 1 year
€12k▼
2024 · €21k
Income taxes
€128▼
2024 · €132
Staff costs
€165k▲
2024 · €157k
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 · 64 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.24M€3.93M▼
Fixed assets21/28€4.00M€3.50M▼
Tangible fixed assets22/27€3.86M€3.50M▼
Land and buildings22€3.76M€3.43M▼
Plant, machinery and equipment23€41k€25k▼
Furniture and vehicles24€32k€21k▼
Leasing and similar rights25€31k€24k▼
Financial fixed assets28€140k€155▼
Current assets29/58€237k€438k▲
Amounts receivable within one year40/41€54k€9k▼
Trade receivables40€29k€7k▼
Other amounts receivable41€26k€2k▼
Cash at bank and in hand54/58€181k€427k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€4.24M€3.93M▼
Equity10/15€3.17M€3.00M▼
Contributions10/11€1.37M€1.37M=
Capital10€1.34M€1.34M=
Issued capital100€1.34M€1.34M=
Outside capital11€38k€38k=
Share premium1100/10€38k€38k=
Reserves13€2.03M€1.82M▼
Non-distributable reserves130/1€134k€134k=
Legal reserve130€134k€134k=
Tax-exempt reserves132€1.52M€1.30M▼
Distributable reserves133€384k€384k=
Profit (loss) carried forward14€-234k€-193k▲
Provisions and deferred taxes16€644k€451k▼
Provisions for liabilities and charges160/5€120k-
Other liabilities and charges164/5€120k-
Deferred taxes168€524k€451k▼
Amounts payable17/49€419k€485k▲
Amounts payable after more than one year17€21k€12k▼
Financial debts170/4€21k€12k▼
Amounts payable within one year42/48€392k€474k▲
Current portion of amounts payable after more than one year42€9k€9k▲
Trade debts44€35k€15k▼
Suppliers440/4€35k€15k▼
Taxes, remuneration and social security45€32k€47k▲
Taxes450/3€8k€13k▲
Remuneration and social security454/9€25k€34k▲
Other amounts payable47/48€316k€403k▲
Accrued charges and deferred income492/3€6k-
Income statement
Code20242025
Non-recurring operating income76A€3k€13k▲
Remuneration, social security and pensions62€157k€165k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€165k€162k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€5k
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-120k
Other operating charges640/8€62k€52k▼
Non-recurring operating charges66A-€153k
Gross operating margin9900€186k€192k▲
Operating profit (loss)9901€-199k€-226k▼
Financial income75/76B€77€194▲
Recurring financial income75€77€194▲
Financial charges65/66B€25k€23k▼
Recurring financial charges65€25k€23k▼
Profit (loss) for the period before taxes9903€-224k€-249k▼
Transfer from deferred taxes780€22k€72k▲
Income taxes67/77€132€128▼
Profit (loss) for the period9904€-202k€-176k▲
Transfer from tax-exempt reserves789€66k€217k▲
Profit (loss) for the period to be appropriated9905€-136k€41k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-234k€-193k▲
Profit (loss) brought forward from the previous period14P€-98k€-234k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-231k ▼173%
Net result drops to €-231k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €318k ▲78.9%
Operating result €357k, net result €318k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.43
Current ratio from 0.64 to 1.43; short-term debt falls from €511k to €501k.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €178k
Net result €178k after 3 loss-making years.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Maldegem · 1 establishment unit since 1993
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kleitkalseide 1279990 MaldegemGround area
334 m²
Building footprint
221 m²
Volume, LiDAR
1,333 m³
Parcel 43502D1164/00H000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IMMO BELUX
since 19932.061.144.981
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43502D1164/00H000 | Flanders | 334 m² | 1 · 221 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VEXSIMMO
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ADB BOUW
BE 0548.832.433
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BAELEN INVEST
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Of 9,694 companies in sector 68121 we hold annual accounts for 7,383. 2,438 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
74201Photography, excluding press photography
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.