IMMO CUBES
ActiveSummary
IMMO CUBES has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €103,967 and a net result of -€917. Equity has been growing by about 3.4% per year since 2018. Its solvency ranks better than 95% of 5,795 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active Normal situation
- Registered office
- 42 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Real estate agency activities NACE 68310
- Joint committee
- 323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden · annual accounts 2022
- Establishment unit
- 2.003.508.868 2800 Mechelen, since 01-07-1960
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- Johan WillemenChair
- MaNaJo BeheerManaging director · permanent representative Marc Jonckheere
- Sidharta ConsultingDirector · since 30-06-2023 · permanent representative Django Liénart
- NOWA99.99%· score 81annual accounts 2025
- Willemen Groep NVconsolidates· score 63annual accounts 2025
- Johan Willemen0.01%annual accounts 2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- -€88
- ▼ 3.1%
- Loss
- €917
- ▼ 78.3%
- Equity
- €103,967
- ▼ 0.9%
- Total assets
- €103,967
- ▼ 0.9%
Score breakdownraises riskLiquidity: cash €6,907lowers riskSize: total assets €103,967Founded in 1968Equity €103,967 (100.0% of total assets)Show 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 91% of them on solvency, 14% on liquidity, 30% on profitability and 42% on growth.
The bankruptcy probability was computed on 03-11-2026 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 24 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 2025, full format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 49 filings
Every figure per financial year
The operating result for 2025 is a loss of €737, smaller than the loss of €4,759 in 2024.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €479 | €480 | €523 | €4,674 | €650 | ▼ 86.1% |
| Gross operating margin9900 | €5,814 | €41,111 | €14,455 | -€73 | - | €5,648 | -€85 | -€88 | ▼ 3.1% |
| Operating profit (loss)9901 | €5,246 | €40,561 | €13,977 | -€552 | -€480 | €5,125 | -€4,759 | -€737 | ▲ 84.5% |
| Financial income75/76B | - | - | - | €267 | - | - | €682 | - | - |
| Recurring financial income75 | €1,750 | €711 | - | €267 | - | - | €682 | - | - |
| Financial charges65/66B | - | - | - | €143 | €178 | €209 | €150 | €180 | ▲ 20.0% |
| Recurring financial charges65 | €20,688 | €21,256 | €144 | €143 | €178 | €209 | €150 | €180 | ▲ 20.0% |
| Profit (loss) for the period before taxes9903 | -€13,692 | €20,016 | €13,833 | -€427 | -€657 | €4,916 | -€4,226 | -€917 | ▲ 78.3% |
| Profit (loss) for the period9904 | -€13,692 | €20,016 | €13,833 | -€427 | -€657 | €4,916 | -€4,226 | -€917 | ▲ 78.3% |
| Profit (loss) for the period to be appropriated9905 | -€13,692 | €20,016 | €13,833 | -€427 | -€657 | €4,916 | -€4,226 | -€917 | ▲ 78.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €63,838 | €92,423 | €105,280 | €104,852 | €104,195 | €109,111 | €104,885 | €103,967 | ▼ 0.9% |
| Fixed assets21/28 | €650 | €650 | €650 | €650 | €650 | - | - | - | - |
| Financial fixed assets28 | €650 | €650 | €650 | €650 | €650 | - | - | - | - |
| Current assets29/58 | €63,188 | €91,773 | €104,630 | €104,202 | €103,545 | €109,111 | €104,885 | €103,967 | ▼ 0.9% |
| Amounts receivable within one year40/41 | €55,721 | €85,299 | €103,280 | €102,933 | €103,356 | €101,881 | €97,060 | €97,060 | = |
| Trade receivables40 | - | - | - | €4,306 | €4,730 | €4,821 | - | - | - |
| Other amounts receivable41 | - | - | - | €98,627 | €98,627 | €97,060 | €97,060 | €97,060 | = |
| Cash at bank and in hand54/58 | €7,468 | €6,474 | €1,350 | €1,270 | €189 | €7,230 | €7,824 | €6,907 | ▼ 11.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €63,838 | €92,423 | €105,280 | €104,852 | €104,195 | €109,111 | €104,885 | €103,967 | ▼ 0.9% |
| Equity10/15 | -€789,213 | -€769,197 | €105,280 | €104,852 | €104,195 | €109,111 | €104,885 | €103,967 | ▼ 0.9% |
| Contributions10/11 | €65,000 | €65,000 | €925,643 | €925,643 | €925,643 | €925,643 | €925,643 | €925,643 | = |
| Capital10 | - | - | - | €925,643 | €925,643 | €925,643 | €925,643 | €925,643 | = |
| Issued capital100 | - | - | - | €925,643 | €925,643 | €925,643 | €925,643 | €925,643 | = |
| Reserves13 | €100,882 | €100,882 | €100,882 | €100,882 | €100,882 | €100,882 | €100,882 | €100,882 | = |
| Non-distributable reserves130/1 | - | - | - | €7,649 | €7,649 | €7,649 | €7,649 | €7,649 | = |
| Legal reserve130 | - | - | - | €7,649 | €7,649 | €7,649 | €7,649 | €7,649 | = |
| Distributable reserves133 | - | - | - | €93,233 | €93,233 | €93,233 | €93,233 | €93,233 | = |
| Profit (loss) carried forward14 | -€955,094 | -€935,079 | -€921,245 | -€921,673 | -€922,330 | -€917,414 | -€921,640 | -€922,558 | ▼ 0.1% |
| Amounts payable17/49 | €853,051 | €861,620 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €853,051 | €861,620 | - | - | - | - | - | - | - |
| Trade debts44 | €8,935 | - | - | - | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,692 | €20,016 | €13,833 | -€427 | -€657 | €4,916 | -€4,226 | -€917 | ▲ 78.3% |
| Operating cash flow (approximation) | -€13,692 | €20,016 | €13,833 | -€427 | -€657 | €4,916 | -€4,226 | -€917 | ▲ 78.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - | - | - | - |
| Change in cash | - | -€994 | -€5,124 | -€80 | -€1,081 | €7,041 | €594 | -€917 | - |
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 CUBES 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
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMO CUBES 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 CUBES. 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 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 09-07-2026 | 2026-00287229 | |
| 31-12-2024 | abbreviated format | 03-07-2025 | 2025-00244016 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00249444 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00222392 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20150523 | |
| 31-12-2020 | abbreviated format | 07-07-2021 | 2021-32600295 | |
| 31-12-2019 | abbreviated format | 10-07-2020 | 2020-28600364 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-57200073 | |
| 31-12-2017 | abbreviated format | 21-08-2018 | 2018-48300454 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-27100321 |
Board & ownership
Directors
Board 4
Day-to-day management 2
Permanent representatives 2
Owners and capital
Shareholders
3 ownersChain of control
- Willemen Groep NV
- NOWA
- IMMO CUBES
Owners 3
- NOWAparentEquity €9.0m Loss of €2.6m in 2025 (loss of €1.4m in 2024) Checked score 8199.99%
- Willemen Groep NVconsolidating parentEquity €33.4m Loss of €9.8m in 2025 (profit of €7.4m in 2024) Checked score 63consolidates
- Johan Willemennatural personSourceown accounts 20250.01%
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Johan Willemen |
|
| MaNaJo Beheer |
|
| Sidharta Consulting |
|
| Tom Willemen |
|
Network & group
Companies at the same address
41 other companies- TM Willemen-Spie-VMA Registered office · since 2026 1034863504
- TM Willemen Bouw – Louis De Waele (Pacheco) Registered office · since 2025 1030523248
- TM WICO Registered office · since 2025 1028205443
- TM WISICO Registered office · since 2025 1028217222
- Stellixis Registered office · since 2025 1024835880
- TM WILLEMEN Construct - LOUIS DE WAELE (Gesu) Registered office · since 2025 1022615570
- Willemen Groep Consortium Registered office · since 2024 1011504320
- TM VRT Morgen Registered office · since 2021 0775284673
- TM Jan De Nul - Willemen Construct Registered office · since 2021 0775257256
- BE.SHARPPP Registered office · since 2019 0728811577
Connections & network
35 connected companiesShow 31 more companies with a shared director
Timeline
Acts, filings and financial milestones
27-07
Gazette deed
7 directors appointed, 2 directors resigningChanges of role: Tom Willemen (director) and Johan Willemen (director) · Appointments: MaNaJo Beheer CommV (director) and Sidharta Consulting bv (director) · Permanent representatives: Marc Jonckheere and Django Liénart13 points ▸
- General meeting, 30-06-2023
- Director resignation, Tom Willemen (director and managing director)
- Director resignation, Johan Willemen (director and managing director)
- Director appointment, Johan Willemen (director)
- Director appointment, MaNaJo Beheer CommV (director)
- Director appointment, Tom Willemen (director)
- Director appointment, Sidharta Consulting bv (director)
- Permanent representative, Marc Jonckheere
- Permanent representative, Django Liénart
- Board meeting, 30-06-2023
- Director appointment, Johan Willemen (managing director)
- Director appointment, MaNaJo Beheer CommV (managing director)
- The act holds 1 more point.
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
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12402C0050/00X000 | Flanders | 7,426 m² | 1 · 1,355 m² | 12.0 m · 2 |