Immo Cleirbaut
ActiveSummary
Immo Cleirbaut has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €744k and a net result of €143k. Equity is growing by ~23.1% per year across the filed fiscal years. Its solvency ranks better than 24% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▲+8
Solvency31▼-1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity short (current ratio 0.43 against 2.07 in 2024; short-term debt: 27.9% and cash: 5% of total assets), and 94.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
5.6%
Return on assets
1.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9234 sector peers (2025).
NBB · sector comparisonPosition among 9234 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
1 d early
2023
13 d early
2022
6 d early
2021
31 d late
2020
45 d early
2019
81 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€744k▲ 23.7%
2024 · €601k
2018: €181klowest in 8 years
2019: €190k▲ +4.9% vs 2018
2020: €190k● 0.0% vs 2019
2021: €930k▲ +391% vs 2020highest in 8 years
2022: €817k▼ -12.1% vs 2021
2023: €699k▼ -14.5% vs 2022
2024: €601k▼ -14.0% vs 2023
2025: €744k▲ +23.7% vs 2024
2018 → 2025
Total assets
€13.29M▲ 50.7%
2024 · €8.82M
2018: €997k
2019: €982k▼ -1.6% vs 2018lowest in 8 years
2020: €1.00M▲ +2.1% vs 2019
2021: €3.41M▲ +240% vs 2020
2022: €6.32M▲ +85.5% vs 2021
2023: €7.41M▲ +17.2% vs 2022
2024: €8.82M▲ +19.0% vs 2023
2025: €13.29M▲ +50.7% vs 2024highest in 8 years
2018 → 2025
Net result
€143k
2024 · €-98k
2018: €-17k
2019: €9k▲ +153% vs 2018
2020: €-18k▼ -306% vs 2019
2021: €-23k▼ -25.1% vs 2020
2022: €-113k▼ -399% vs 2021
2023: €-119k▼ -4.9% vs 2022lowest in 8 years
2024: €-98k▲ +17.5% vs 2023
2025: €143k▲ +246% vs 2024highest in 8 years
2018 → 2025
Working capital
€-2.11M
2024 · €651k
2018: €-244k
2019: €-228k▲ +6.3% vs 2018
2020: €-279k▼ -22.3% vs 2019
2021: €-548k▼ -96.3% vs 2020
2022: €-3.27M▼ -496% vs 2021lowest in 8 years
2023: €-2.98M▲ +9.0% vs 2022
2024: €651k▲ +122% vs 2023highest in 8 years
2025: €-2.11M▼ -424% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€930k-€817k▼ 12.1%€699k▼ 14.5%€601k▼ 14.0%€744k▲ 23.7%
2021: €930khighest in 5 years
2022: €817k▼ -12.1% vs 2021
2023: €699k▼ -14.5% vs 2022
2024: €601k▼ -14.0% vs 2023lowest in 5 years
2025: €744k▲ +23.7% vs 2024
Operating result€10k-€-63k€6k€74k▲ 1,049%€397k▲ 434%
2021: €10k
2022: €-63k▼ -724% vs 2021lowest in 5 years
2023: €6k▲ +110% vs 2022
2024: €74k▲ +1049% vs 2023
2025: €397k▲ +434% vs 2024highest in 5 years
Net result€-23k-€-113k▼ 399%€-119k▼ 4.9%€-98k▲ 17.5%€143k
2021: €-23k
2022: €-113k▼ -399% vs 2021
2023: €-119k▼ -4.9% vs 2022lowest in 5 years
2024: €-98k▲ +17.5% vs 2023
2025: €143k▲ +246% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 434% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.28M
Fixed assets
€11.69M ▲ 54.9%
Current assets
€1.59M ▲ 26.0%
Equity and liabilities €13.29M
Equity
€744k ▲ 23.7%
Debt
€12.54M ▲ 52.7%
Debt's share of the balance-sheet total rises from 93.2% to 94.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€662k▲
2024 · €341k
Cash flow
€408k▲
2024 · €169k
Current ratio
0.43▼
2024 · 2.07
Debt to equity
16.87▲
2024 · 13.67
ROE
19.2%▲
2024 · -16.3%
ROA
1.1%▲
2024 · -1.1%
Interest coverage
2.37▲
2024 · 1.78
Debt ≤ 1 year
€3.70M▲
2024 · €611k
Debt > 1 year
€8.73M▲
2024 · €7.56M
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8.82M€13.29M▲
Formation expenses20€6k€2k▼
Fixed assets21/28€7.55M€11.69M▲
Tangible fixed assets22/27€7.54M€10.93M▲
Land and buildings22€7.26M€9.26M▲
Plant, machinery and equipment23€20k€17k▼
Assets under construction and advance payments27€266k€1.66M▲
Financial fixed assets28€5k€759k▲
Current assets29/58€1.26M€1.59M▲
Amounts receivable after more than one year29€567k€0▼
Other amounts receivable291€567k€0▼
Amounts receivable within one year40/41€312k€899k▲
Trade receivables40-€28k
Other amounts receivable41€312k€871k▲
Cash at bank and in hand54/58€350k€663k▲
Deferred charges and accrued income490/1€34k€29k▼
Equity and liabilities
Total equity and liabilities10/49€8.82M€13.29M▲
Equity10/15€601k€744k▲
Contributions10/11€24k€24k=
Revaluation surpluses12€177k€177k=
Reserves13€400k€542k▲
Distributable reserves133€400k€542k▲
Amounts payable17/49€8.22M€12.54M▲
Amounts payable after more than one year17€7.56M€8.73M▲
Financial debts170/4€7.56M€8.72M▲
Other amounts payable178/9-€10k
Amounts payable within one year42/48€611k€3.70M▲
Current portion of amounts payable after more than one year42€309k€328k▲
Trade debts44€126k€88k▼
Suppliers440/4€126k€88k▼
Other amounts payable47/48€176k€3.29M▲
Accrued charges and deferred income492/3€48k€109k▲
Income statement
Code20242025
Non-recurring operating income76A-€152
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€267k€265k▼
Other operating charges640/8€13k€4k▼
Gross operating margin9900€354k€666k▲
Operating profit (loss)9901€74k€397k▲
Financial income75/76B€20k€25k▲
Recurring financial income75€20k€25k▲
Financial charges65/66B€192k€279k▲
Recurring financial charges65€192k€279k▲
Profit (loss) for the period before taxes9903€-98k€143k▲
Profit (loss) for the period9904€-98k€143k▲
Profit (loss) for the period to be appropriated9905€-98k€143k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-98k€143k▲
Transfer from equity791/2€98k€0▼
Transfer to equity691/2-€143k
To other reserves6921-€143k
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €9k | - | €152 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €119k | €234k | €206k | €267k | €265k | ▼ 0.4% |
| Other operating charges640/8 | €10k | €21k | €39k | €13k | €4k | ▼ 69.7% |
| Non-recurring operating charges66A | - | €42k | - | - | - | - |
| Gross operating margin9900 | €139k | €233k | €251k | €354k | €666k | ▲ 88.3% |
| Operating profit (loss)9901 | €10k | €-63k | €6k | €74k | €397k | ▲ 434% |
| Financial income75/76B | €0 | €3k | €2k | €20k | €25k | ▲ 24.5% |
| Recurring financial income75 | €0 | €3k | €2k | €20k | €25k | ▲ 24.5% |
| Financial charges65/66B | €33k | €49k | €127k | €192k | €279k | ▲ 45.4% |
| Recurring financial charges65 | €33k | €49k | €127k | €192k | €279k | ▲ 45.4% |
| Profit (loss) for the period before taxes9903 | €-23k | €-109k | €-119k | €-98k | €143k | ▲ 246% |
| Income taxes67/77 | €0 | €4k | - | - | - | - |
| Profit (loss) for the period9904 | €-23k | €-113k | €-119k | €-98k | €143k | ▲ 246% |
| Profit (loss) for the period to be appropriated9905 | €-23k | €-113k | €-119k | €-98k | €143k | ▲ 246% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.41M | €6.32M | €7.41M | €8.82M | €13.29M | ▲ 50.7% |
| Formation expenses20 | €17k | €13k | €9k | €6k | €2k | ▼ 63.3% |
| Fixed assets21/28 | €3.16M | €5.67M | €6.77M | €7.55M | €11.69M | ▲ 54.9% |
| Tangible fixed assets22/27 | €3.16M | €5.66M | €6.77M | €7.54M | €10.93M | ▲ 45.0% |
| Land and buildings22 | €3.14M | €5.59M | €5.78M | €7.26M | €9.26M | ▲ 27.6% |
| Plant, machinery and equipment23 | €24k | €25k | €23k | €20k | €17k | ▼ 14.1% |
| Assets under construction and advance payments27 | - | €44k | €967k | €266k | €1.66M | ▲ 523% |
| Financial fixed assets28 | €4k | €4k | - | €5k | €759k | ▲ 13,993% |
| Current assets29/58 | €227k | €641k | €632k | €1.26M | €1.59M | ▲ 26.0% |
| Amounts receivable after more than one year29 | - | - | - | €567k | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | €567k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €166k | €476k | €458k | €312k | €899k | ▲ 188% |
| Trade receivables40 | €42k | €39k | €117k | - | €28k | - |
| Other amounts receivable41 | €124k | €437k | €341k | €312k | €871k | ▲ 179% |
| Cash at bank and in hand54/58 | €59k | €154k | €173k | €350k | €663k | ▲ 89.6% |
| Deferred charges and accrued income490/1 | €1k | €10k | €1k | €34k | €29k | ▼ 14.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.41M | €6.32M | €7.41M | €8.82M | €13.29M | ▲ 50.7% |
| Equity10/15 | €930k | €817k | €699k | €601k | €744k | ▲ 23.7% |
| Contributions10/11 | €24k | €24k | €24k | €24k | €24k | = |
| Revaluation surpluses12 | €269k | €238k | €208k | €177k | €177k | = |
| Reserves13 | €637k | €555k | €467k | €400k | €542k | ▲ 35.7% |
| Non-distributable reserves130/1 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Distributable reserves133 | €637k | €555k | €467k | €400k | €542k | ▲ 35.7% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €2.48M | €5.50M | €6.71M | €8.22M | €12.54M | ▲ 52.7% |
| Amounts payable after more than one year17 | €1.70M | €1.58M | €3.06M | €7.56M | €8.73M | ▲ 15.6% |
| Financial debts170/4 | €1.70M | €1.58M | €3.06M | €7.56M | €8.72M | ▲ 15.4% |
| Other amounts payable178/9 | - | - | - | - | €10k | - |
| Amounts payable within one year42/48 | €775k | €3.91M | €3.61M | €611k | €3.70M | ▲ 506% |
| Current portion of amounts payable after more than one year42 | €142k | €126k | €147k | €309k | €328k | ▲ 6.1% |
| Trade debts44 | €141k | €64k | €211k | €126k | €88k | ▼ 30.3% |
| Suppliers440/4 | €141k | €64k | €211k | €126k | €88k | ▼ 30.3% |
| Taxes, remuneration and social security45 | €3k | - | €128 | - | - | - |
| Taxes450/3 | €3k | - | €128 | - | - | - |
| Other amounts payable47/48 | €489k | €3.72M | €3.25M | €176k | €3.29M | ▲ 1,763% |
| Accrued charges and deferred income492/3 | - | €18k | €47k | €48k | €109k | ▲ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-23k | €-113k | €-119k | €-98k | €143k | ▲ 246% |
| + Depreciation and write-downs630 | €119k | €234k | €206k | €267k | €265k | ▼ 0.4% |
| Operating cash flow (approximation) | €97k | €121k | €87k | €169k | €408k | ▲ 142% |
| Investment in fixed assets (approximation) | - | €-2.74M | €-1.31M | €-1.05M | €-4.41M | ▼ 321% |
| Change in cash | - | €95k | €19k | €177k | €313k | ▲ 77.4% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €143k
Net result €143k after 5 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 12current ratio 2.07
Current ratio from 0.18 to 2.07; short-term debt falls from €3.61M to €611k.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-119k
Net result drops to €-119k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Equity above €500kEq €930k ▲391%
Equity rises from €190k to €930k.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
2019
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
Show earlier events
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Bonheiden · 1 establishment unit since 1999
Ground area
885 m²
Building footprint
568 m²
Volume, LiDAR
3,426 m³
Parcel 12005A0274/00Y005, Flanders · tallest building 11.6 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Immo Cleirbaut
since 19992.091.242.992
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005A0274/00Y005 | Flanders | 885 m² | 1 · 568 m² | 11.6 m · 2 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
984500CB59057E496232
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 4,278 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-05-1999
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
immo@cleirbaut.be
Scores and ratios are computed by Checked and are not a credit decision.