Equity
Immo Construct paid out €35,000 in dividends. That is 95% of the 2025 profit.
Immo Construct paid out €35,000 in dividends. That is 95% of the 2025 profit.
The result fell in 2025 from €240,524 to €36,745.
The micro format states no turnover.
Short-term debts fell from €11,137 to €1,423.
The last five annual accounts were filed 30 to 135 days before the end of the period.
Higher solvency than 95% of companies in specialised construction. Sector median 46.7% · 35,008 companies.
The dashed line is the sector median: 0.7% across 47,692 companies (NACE 43, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 90% of them on solvency, 65% on liquidity, 92% on profitability and 54% on growth.
The bankruptcy probability was computed on 05-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 34,693 companies had the same profile as Immo Construct has now. Each dot stands for 87 companies, two years later.
That fits the bankruptcy probability of Immo Construct itself: 0.3% within 12 months.
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 34,693 companies, not a prediction for Immo Construct. 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.
Liquidity is ample, with a current ratio of 13.96 (2.37 in 2024), above the usual 1.5. Short-term debt is 6.5% and cash 13% of total assets. 6.5% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 62 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| Immo Construct Mol | - | - | 93.5% | - |
| ANGEL RENOV Braine-le-Château | - | - | 29.9% | - |
| SSB GROUP Etterbeek | - | - | -183.3% | 1.7 |
| MAKSIMO Quaregnon | - | - | -74.9% | - |
| IGM Rénovation Wanze | - | - | 66.1% | - |
| I CAN DO Hélécine | €93,470 | 1.4% | -267.1% | - |
| MIK&A CONSTRUCT Charleroi | €341,760 | -9.3% | -166.3% | - |
These companies have the same main activity as Immo Construct: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €14,700 and €31,000, founded between 2014 and 2017.
Immo Construct files the micro format. That format states no turnover. The gross margin rose from €10,777 in 2016 to €55,118 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €280,000. Estimated: probably between €210,000 and €570,000.
Higher than 95% of 35,008 companies in 2025.
Higher than 95% of 34,384 companies in 2025.
Higher than 95% of 34,584 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
Total assets20/58 |
21,768 | 29,737 | 26,792 | 26,196 | 56,704 | 102,909 | 33,176 | 64,679 | 92,554 | 99,247 | |
Fixed assets21/28 |
1,907 | 3,390 | 1,374 | 12,750 | 17,000 | 21,250 | 27,010 | 32,769 | 41,935 | 51,100 | |
Tangible fixed assets22/27 |
1,907 | 3,390 | 1,374 | 12,750 | 17,000 | 21,250 | 27,010 | 32,769 | 41,935 | 51,100 | |
Plant, machinery and equipment23 |
427 | 900 | 1,374 | - | - | - | - | - | 2,432 | 4,864 | |
Furniture and vehicles24 |
1,480 | 2,490 | - | - | - | - | 826 | 1,653 | 3,453 | 5,252 | |
Other tangible fixed assets26 |
- | - | - | 12,750 | 17,000 | 21,250 | 26,183 | 31,117 | 36,050 | 40,984 | |
Current assets29/58 |
19,861 | 26,347 | 25,419 | 13,446 | 39,704 | 81,659 | 6,166 | 31,910 | 50,619 | 48,147 | |
Stocks and contracts in progress3 |
- | - | - | - | - | 9,603 | 2,000 | 4,000 | 4,000 | 4,000 | |
Stocks30/36 |
- | - | - | - | - | 9,603 | 2,000 | 4,000 | 4,000 | 4,000 | |
Amounts receivable within one year40/41 |
17,039 | 23,153 | 23,725 | 4,239 | 714 | 2,623 | 111 | 23,476 | 32,033 | 23,559 | |
Trade receivables40 |
15,616 | 21,938 | 1,750 | 2,250 | - | - | - | 23,371 | 27,289 | 23,559 | |
Other amounts receivable41 |
1,423 | 1,216 | 21,975 | 1,989 | 714 | 2,623 | 111 | 105 | 4,745 | - | |
Cash at bank and in hand54/58 |
2,822 | 3,194 | 1,694 | 9,207 | 38,990 | 69,432 | 4,055 | 4,434 | 14,586 | 20,589 | |
| Balance sheet: equity and liabilities | |||||||||||
Total equity and liabilities10/49 |
21,768 | 29,737 | 26,792 | 26,196 | 56,704 | 102,909 | 33,176 | 64,679 | 92,554 | 99,247 | |
Equity10/15 |
20,345 | 18,600 | 20,555 | 25,322 | 21,162 | 22,483 | 22,151 | 22,029 | 20,789 | 19,705 | |
Contributions10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
Issued capital100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
Reserves13 |
1,745 | - | 1,955 | 6,722 | 2,562 | 3,883 | 3,551 | 3,429 | 2,189 | 1,105 | |
Non-distributable reserves130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
Legal reserve130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,105 | |
Reserves not available under the articles1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | |
Distributable reserves133 |
1,745 | - | 1,955 | 4,862 | 702 | 2,023 | 1,691 | 1,569 | 329 | - | |
Amounts payable17/49 |
1,423 | 11,137 | 6,238 | 874 | 35,542 | 80,425 | 11,024 | 42,650 | 71,765 | 79,542 | |
Amounts payable after more than one year17 |
- | - | - | - | 31,000 | 75,000 | - | - | - | - | |
Financial debts170/4 |
- | - | - | - | 31,000 | 75,000 | - | - | - | - | |
Amounts payable within one year42/48 |
1,423 | 11,137 | 6,238 | 874 | 4,542 | 5,425 | 11,024 | 42,650 | 71,765 | 79,542 | |
Trade debts44 |
1,256 | - | - | - | 1,958 | - | 1,000 | 12,971 | 10,535 | 8,059 | |
Suppliers440/4 |
1,256 | - | - | - | 1,958 | - | 1,000 | 12,971 | 10,535 | 8,059 | |
Taxes, remuneration and social security45 |
- | 1,577 | 1,633 | - | 13 | - | 177 | 216 | 1,023 | 8,806 | |
Taxes450/3 |
- | 1,577 | 1,633 | - | 13 | - | 177 | 216 | 1,023 | 8,806 | |
Other amounts payable47/48 |
166 | 9,560 | 4,604 | 874 | 2,571 | 5,425 | 9,847 | 29,463 | 60,207 | 62,677 | |
| Income statement | |||||||||||
Gross operating margin9900 |
55,118 | 330,671 | 316,781 | 94,853 | 4,737 | 7,137 | 6,364 | 19,364 | 12,292 | 10,777 | |
Remuneration, social security and pensions62 |
- | - | - | - | - | - | - | 7,274 | - | - | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
1,484 | 1,014 | 47 | 4,250 | 4,250 | 5,760 | 5,760 | 9,165 | 9,165 | 9,165 | |
Other operating charges640/8 |
3,304 | 6,274 | 14,752 | 507 | 503 | 502 | 500 | 496 | 493 | 1,045 | |
Operating profit (loss)9901 |
50,330 | 323,382 | 301,983 | 90,096 | -16 | 876 | 105 | 2,428 | 2,635 | 567 | |
Financial income75/76B |
- | 926 | - | - | 830 | - | 761 | 0 | - | 972 | |
Recurring financial income75 |
- | 926 | - | - | 830 | - | 761 | 0 | - | 972 | |
Financial charges65/66B |
- | - | - | -13 | 2,123 | 356 | 744 | 781 | 685 | 434 | |
Recurring financial charges65 |
- | - | - | -13 | 2,123 | 356 | 744 | 781 | 685 | 434 | |
Profit (loss) for the period before taxes9903 |
50,330 | 324,308 | 301,983 | 90,109 | -1,309 | 519 | 122 | 1,647 | 1,950 | 1,105 | |
Income taxes67/77 |
13,585 | 83,784 | 76,750 | 20,948 | 13 | 187 | - | 407 | 865 | - | |
Profit (loss) for the period9904 |
36,745 | 240,524 | 225,233 | 69,161 | -1,322 | 332 | 122 | 1,240 | 1,085 | 1,105 | |
Profit (loss) for the period to be appropriated9905 |
36,745 | 240,524 | 225,233 | 69,161 | -1,322 | 332 | 122 | 1,240 | 1,085 | 1,105 | |
| Appropriation of the result | |||||||||||
Profit (loss) to be appropriated9906 |
36,745 | 240,524 | 225,233 | 69,161 | -1,322 | 332 | 122 | 1,240 | 1,085 | 1,105 | |
Transfer from equity791/2 |
35,000 | 242,479 | 230,000 | - | 1,322 | - | - | - | - | - | |
Transfer to equity691/2 |
36,745 | 240,524 | 225,233 | 4,161 | - | 332 | 122 | 1,240 | 1,085 | 1,105 | |
To the legal reserve6920 |
- | - | - | - | - | - | - | - | 756 | 1,105 | |
To other reserves6921 |
36,745 | 240,524 | 225,233 | 4,161 | - | 332 | 122 | 1,240 | 329 | - | |
Profit to be distributed694/7 |
35,000 | 242,479 | 230,000 | 65,000 | - | - | - | - | - | - | |
Return on contributions (dividend)694 |
35,000 | 242,479 | 230,000 | 65,000 | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||
Average staff (FTE)9087 |
- | - | - | - | - | - | - | 1 | - | - | |
Hours worked1013 |
- | - | - | - | - | - | - | 281 | - | - | |
| Document | |||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 29-03-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-03-2026 | 2026-00065031 | |
| 31-12-2024 | micro format | 18-03-2025 | 2025-00049596 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00186571 | |
| 31-12-2022 | micro format | 17-06-2023 | 2023-00133554 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20139477 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22000069 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-22100515 | |
| 31-12-2018 | micro format | 26-06-2019 | 2019-22800537 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-21400290 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-18700008 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 51,814 | 324,396 | 302,030 | 94,346 | 4,234 | 6,635 | 5,865 | 11,593 | 11,799 | 9,732 | |
| Cash flow | 38,229 | 241,538 | 225,279 | 73,411 | 2,928 | 6,092 | 5,882 | 10,405 | 10,249 | 10,270 | |
| Investment in fixed assets (approximation) | 0 | 3,031 | 1,421 | 0 | 0 | 0 | 0 | 0 | 0 | 60,265 | |
| Change in cash | -372 | 1,500 | -7,513 | -29,783 | -30,442 | 65,377 | -379 | -10,152 | -6,003 | - | |
| Working capital | 18,439 | 15,210 | 19,181 | 12,572 | 35,162 | 76,233 | -4,859 | -10,741 | -21,146 | -31,395 | |
| Solvency | 93.5% | 62.5% | 76.7% | 96.7% | 37.3% | 21.8% | 66.8% | 34.1% | 22.5% | 19.9% | |
| Current ratio | 13.96 | 2.37 | 4.08 | 15.38 | 8.74 | 15.05 | 0.56 | 0.75 | 0.71 | 0.61 | |
| Quick ratio | 13.96 | 2.37 | 4.08 | 15.38 | 8.74 | 13.28 | 0.38 | 0.65 | 0.65 | 0.56 | |
| Debt to equity | 0.07 | 0.60 | 0.30 | 0.03 | 1.68 | 3.58 | 0.50 | 1.94 | 3.45 | 4.04 | |
| ROE | 180.6% | - | - | 273.1% | -6.2% | 1.5% | 0.6% | 5.6% | 5.2% | 5.6% | |
| ROA | 168.8% | 808.8% | 840.7% | 264.0% | -2.3% | 0.3% | 0.4% | 1.9% | 1.2% | 1.1% | |
| Interest coverage | - | - | - | -7382.33 | 1.99 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €3,031 | €1,421 | - | - |
| Depreciation and write-downs of the year | €1,484 | €1,014 | €47 | €4,250 | €4,250 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 84% lower than in 2024 and the lowest since 2021.
Debt's share of the balance-sheet total falls from 37.5% to 6.5%. Equity is higher and debt is lower.
Immo Construct has no parent and no holdings in its annual accounts. CLAES Dirk is the only director. Immo Construct shares no director with another company.
| VOCON
registered office since 25-04-2007 · founded in 2007 |
total assets €2.7m (2025) 0889.009.948 |
| V&O Invest
registered office since 05-08-2015 · founded in 2015 |
total assets €1.7m (2025) 0634.871.928 |
| HESA CONSTRUCT
registered office since 01-03-2024 · founded in 2024 |
total assets €682,883 (2025) 1006.689.952 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Windmolenstraat 14 registered office 2400 Mol 68121 Development of residential building projects | 05-08-2015 | 2.244.606.229 |
| 07-10-2026 | Under review | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie project 2026111688 | Balen |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 13433E1070/00B000 | 2,024 m² | 1 · 390 m² | 10.4 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0634.872.027
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