IMMO-BUG
ActiveSummary
IMMO-BUG has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €659,657 and a net result of €3,809. Equity has been growing by about 8.4% per year since 2019. Its solvency ranks better than 51% of 340 sector peers (NACE 68, financial year 2026). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-09-2005 Normal situation
- Activity
- Renting and operating of own or leased non-residential real estate, excluding land NACE 68203
- Establishment unit
- 2.149.061.823 9255 Buggenhout, since 21-09-2005
- Financial year end
- 31 March
- Peppol
- Reachable since 11-11-2025
Board and ownership
- De Plecker DaniëlDirector
- BELGOTRAN14.9%· score 9631-03-2026 annual accounts of BELGOTRAN
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €126,560
- ▼ 3.3%
- Turnover
- ≈ €170,000
- estimated
- Profit
- €3,809
- ▼ 91.6%
- Equity
- €659,657
- ▲ 0.6%
- Total assets
- €1.6m
- ▲ 23.5%
Score breakdownraises riskLiquidity: current ratio 0.05, cash €12,529, halvedlowers riskSize: total assets €1.6mFigures for financial year 2026 (filed on 28-09-2026)Legal form: public limited companyShow the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 57% of them on solvency, 27% on liquidity, 55% on profitability and 47% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 37 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 24-09-2026 at the NBB all 20 filings
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is 69% lower than in 2025 and the lowest since 2022.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €1.1m | €1.1m | €1.1m | - | - |
| Carrying value of the mortgaged assets | €1.3m | €1.3m | €1.2m | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,975 | €39,999 | €448,435 |
| Depreciation and write-downs of the year | €42,188 | €44,513 | €42,418 | €42,583 | €91,018 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €248 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,188 | €42,188 | €42,187 | €42,188 | €44,513 | €42,418 | €42,583 | €91,018 | ▲ 114% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €186 | - | - | - |
| Other operating charges640/8 | - | - | - | €5,247 | €6,899 | €6,660 | €7,729 | €10,323 | ▲ 33.6% |
| Gross operating margin9900 | €96,887 | €118,340 | €121,154 | €133,499 | €139,176 | €129,052 | €130,828 | €126,560 | ▼ 3.3% |
| Operating profit (loss)9901 | €50,607 | €71,522 | €73,750 | €86,065 | €87,764 | €79,788 | €80,516 | €25,219 | ▼ 68.7% |
| Financial income75/76B | - | - | - | €2 | - | €0 | €0 | €2 | ▲ 22× |
| Recurring financial income75 | €130 | - | €0 | €2 | - | €0 | €0 | €2 | ▲ 22× |
| Financial charges65/66B | - | - | - | €19,173 | €17,047 | €15,548 | €14,354 | €19,634 | ▲ 36.8% |
| Recurring financial charges65 | €27,542 | €26,133 | €22,470 | €19,173 | €17,047 | €15,548 | €14,354 | €19,634 | ▲ 36.8% |
| Profit (loss) for the period before taxes9903 | €23,196 | €45,389 | €51,280 | €66,893 | €70,716 | €64,240 | €66,161 | €5,587 | ▼ 91.6% |
| Income taxes67/77 | - | €9,189 | €16,490 | €21,183 | €22,715 | €21,278 | €21,051 | €1,778 | ▼ 91.6% |
| Profit (loss) for the period9904 | €23,196 | €36,199 | €34,790 | €45,710 | €48,001 | €42,962 | €45,110 | €3,809 | ▼ 91.6% |
| Profit (loss) for the period to be appropriated9905 | €23,196 | €36,199 | €34,790 | €45,710 | €48,001 | €42,962 | €45,110 | €3,809 | ▼ 91.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.5m | €1.4m | €1.4m | €1.4m | €1.3m | €1.2m | €1.3m | €1.6m | ▲ 23.5% |
| Fixed assets21/28 | €1.4m | €1.4m | €1.4m | €1.3m | €1.3m | €1.2m | €1.2m | €1.6m | ▲ 29.0% |
| Tangible fixed assets22/27 | €1.4m | €1.4m | €1.4m | €1.3m | €1.3m | €1.2m | €1.2m | €1.6m | ▲ 29.0% |
| Land and buildings22 | - | - | - | €1.3m | €1.3m | €1.2m | €1.2m | €1.6m | ▲ 29.0% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0.002m | €0.001m | €0.001m | ▼ 29.3% |
| Current assets29/58 | €0.07m | €0.04m | €0.05m | €0.04m | €0.02m | €0.01m | €0.08m | €0.03m | ▼ 60.5% |
| Amounts receivable within one year40/41 | €0.01m | €0.006m | €0.002m | €0.002m | €488 | €248 | - | €0.001m | - |
| Trade receivables40 | - | - | - | €0.002m | €488 | €248 | - | - | - |
| Other amounts receivable41 | - | - | - | €42 | - | - | - | €0.001m | - |
| Current investments50/53 | €0.01m | €50 | €50 | €50 | €50 | - | - | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.03m | €0.05m | €0.03m | €0.02m | €0.009m | €0.08m | €0.01m | ▼ 84.2% |
| Deferred charges and accrued income490/1 | - | - | - | €418 | €0.001m | €0.001m | €0.001m | €0.02m | ▲ 26× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.5m | €1.4m | €1.4m | €1.4m | €1.3m | €1.2m | €1.3m | €1.6m | ▲ 23.5% |
| Equity10/15 | €0.4m | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | ▲ 0.6% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €54 | €0.04m | €0.07m | €0.1m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 1.5% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.008m | €0.007m | €0.009m | €0.009m | ▲ 2.2% |
| Legal reserve130 | - | - | - | €0.006m | €0.008m | €0.007m | €0.009m | €0.009m | ▲ 2.2% |
| Distributable reserves133 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 1.5% |
| Profit (loss) carried forward14 | €0.001m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €1.1m | €1.0m | €0.9m | €0.8m | €0.7m | €0.6m | €0.7m | €1.0m | ▲ 46.4% |
| Amounts payable after more than one year17 | €1.0m | €0.9m | €0.7m | €0.7m | €0.6m | €0.5m | €0.4m | €0.4m | ▼ 15.5% |
| Financial debts170/4 | - | - | - | €0.7m | €0.6m | €0.5m | €0.4m | €0.4m | ▼ 15.5% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | €0.6m | ▲ 151% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.09m | €0.08m | €0.09m | €0.07m | ▼ 21.2% |
| Trade debts44 | €271 | €247 | €0.004m | €165 | - | €51 | €267 | €28 | ▼ 89.7% |
| Suppliers440/4 | - | - | - | €165 | - | €51 | €267 | €28 | ▼ 89.7% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.001m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.009m | €0.01m | €0.003m | ▼ 66.6% |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | €0.009m | €0.01m | €0.003m | ▼ 66.6% |
| Other amounts payable47/48 | - | - | - | €0.09m | €0.06m | €0.05m | €0.1m | €0.5m | ▲ 271% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.002m | €0.002m | €0.003m | €0.01m | ▲ 218% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,196 | €36,199 | €34,790 | €45,710 | €48,001 | €42,962 | €45,110 | €3,809 | ▼ 91.6% |
| + Depreciation and write-downs630 | €42,188 | €42,188 | €42,187 | €42,188 | €44,513 | €42,418 | €42,583 | €91,018 | ▲ 114% |
| Operating cash flow (approximation) | €65,384 | €78,387 | €76,978 | €87,898 | €92,514 | €85,380 | €87,693 | €94,827 | ▲ 8.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€334 | -€2,325 | -€1,975 | -€39,999 | -€448,435 | ▼ 1,021% |
| Change in cash | - | -€2,709 | €18,137 | -€15,541 | -€14,966 | -€10,558 | €70,167 | -€66,876 | - |
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, 14,766 companies had the same profile as IMMO-BUG has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMO-BUG 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 14,766 companies, not a prediction for IMMO-BUG. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 24-09-2026 | 2026-00526743 | |
| 31-03-2025 | micro format | 25-09-2025 | 2025-00505413 | |
| 31-03-2024 | micro format | 23-09-2024 | 2024-00467915 | |
| 31-03-2023 | micro format | 13-09-2023 | 2023-00445090 | |
| 31-03-2022 | micro format | 12-09-2022 | 2022-20426515 | |
| 31-03-2021 | abbreviated format | 04-10-2021 | 2021-71000023 | |
| 31-03-2020 | abbreviated format | 05-10-2020 | 2020-59100014 | |
| 31-03-2019 | abbreviated format | 26-11-2019 | 2019-74600323 | |
| 31-03-2018 | abbreviated format | 30-11-2018 | 2018-73300045 | |
| 31-03-2017 | micro format | 31-10-2017 | 2017-68700051 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerOwners 1
- Equity €1.4m Profit of €65,958 in 2026 (profit of €81,092 in 2025) Checked score 9614.9%
Network & group
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of IMMO-BUG. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 42004A0631/00F003 | Flanders | 606 m² | 1 · 452 m² | 9.2 m · 1 |