IMMO DEVELOPMENT DAVID
ActiveSummary
IMMO DEVELOPMENT DAVID has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€52,588) and a net result of €116,918. Equity is shrinking by about 65% per year across the filed financial years. Its solvency ranks better than 18% of 17,042 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
- Equity
- -€52,588
- Profit
- €116,918
Why 56raises riskCapped at 59: negative equityLiquidity: current ratio 2.46Negative equity -€52,588Last filed accounts filed 31 days late; 1 of the last 3 latelowers riskSize: total assets €2.2mShow the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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, small): better than 11% on solvency, 88% on liquidity, 51% on profitability and 92% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 44 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €116,918
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00457948.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €144,073 after a loss of €21,309 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 178 companies that looked in July 2024 the way this one looks now, 6.2% went bankrupt within 24 months and 90.4% are still going.
- Small
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 178 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,500 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €9,640 | €9,854 | €11,574 | €12,212 | €12,389 | ▲ 1.5% |
| Gross operating margin9900 | -€4,467 | -€4,665 | -€7,185 | -€7,264 | -€6,431 | -€8,647 | -€9,097 | €156,462 | - |
| Operating profit (loss)9901 | -€6,662 | -€12,860 | -€16,759 | -€16,904 | -€16,285 | -€20,222 | -€21,309 | €144,073 | - |
| Financial income75/76B | - | - | - | €7 | - | - | - | - | - |
| Recurring financial income75 | €0 | - | - | €7 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €18,540 | €19,658 | €21,430 | €20,150 | €27,155 | ▲ 34.8% |
| Recurring financial charges65 | €26,937 | €17,361 | €34,438 | €18,540 | €19,658 | €21,430 | €20,150 | €27,155 | ▲ 34.8% |
| Profit (loss) for the period before taxes9903 | -€33,598 | -€30,222 | -€51,197 | -€35,436 | -€35,942 | -€41,651 | -€41,459 | €116,918 | - |
| Profit (loss) for the period9904 | -€33,598 | -€30,222 | -€51,197 | -€35,436 | -€35,942 | -€41,651 | -€41,459 | €116,918 | - |
| Profit (loss) for the period to be appropriated9905 | -€33,598 | -€30,222 | -€51,197 | -€35,436 | -€35,942 | -€41,651 | -€41,459 | €116,918 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.0m | €1.0m | €1.5m | €1.6m | €1.8m | €2.2m | ▲ 22.7% |
| Current assets29/58 | €1.0m | €1.0m | €1.0m | €1.0m | €1.5m | €1.6m | €1.8m | €2.2m | ▲ 22.7% |
| Stocks and contracts in progress3 | €1.0m | €1.0m | €1.0m | €1.0m | €1.5m | €1.6m | €1.8m | €2.1m | ▲ 21.8% |
| Stocks30/36 | - | - | - | €1.0m | €1.5m | €1.6m | €1.8m | €2.1m | ▲ 21.8% |
| Amounts receivable within one year40/41 | - | €0.002m | €0.002m | €0.004m | €0.005m | €0.006m | €0.008m | €0.02m | ▲ 200% |
| Trade receivables40 | - | - | - | - | - | - | - | €0.005m | - |
| Other amounts receivable41 | - | - | - | €0.004m | €0.005m | €0.006m | €0.008m | €0.02m | ▲ 140% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.003m | - |
| Cash at bank and in hand54/58 | €0.01m | €0.001m | €0.005m | €0.01m | €0.02m | €0.005m | €0.002m | - | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €241 | €270 | €285 | €0.001m | ▲ 85.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.0m | €1.0m | €1.5m | €1.6m | €1.8m | €2.2m | ▲ 22.7% |
| Equity10/15 | €0.07m | €0.04m | -€0.02m | -€0.05m | -€0.09m | -€0.1m | -€0.2m | -€0.05m | ▲ 69.0% |
| Contributions10/11 | €0.1m | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.03m | -€0.06m | -€0.1m | -€0.2m | -€0.2m | -€0.2m | -€0.3m | -€0.2m | ▲ 43.4% |
| Amounts payable17/49 | €0.9m | €1.0m | €1.0m | €1.1m | €1.6m | €1.7m | €1.9m | €2.2m | ▲ 14.7% |
| Amounts payable after more than one year17 | €0.6m | €0.6m | €0.6m | €0.6m | €1.1m | €1.1m | €1.0m | €1.3m | ▲ 31.9% |
| Financial debts170/4 | - | - | - | €0.6m | €1.1m | €1.1m | €1.0m | €1.3m | ▲ 31.9% |
| Amounts payable within one year42/48 | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | €0.7m | €0.9m | €0.9m | ▼ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.07m | €0.07m | €0.07m | €0.1m | ▲ 29.1% |
| Trade debts44 | €0.004m | €0.007m | €0.002m | - | €41 | - | €0.2m | €0.01m | ▼ 93.6% |
| Suppliers440/4 | - | - | - | - | €41 | - | €0.2m | €0.01m | ▼ 93.6% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | ▲ 11.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€33,598 | -€30,222 | -€51,197 | -€35,436 | -€35,942 | -€41,651 | -€41,459 | €116,918 | - |
| + Depreciation and write-downs630 | €1,500 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€32,098 | -€30,222 | -€51,197 | -€35,436 | -€35,942 | -€41,651 | -€41,459 | €116,918 | - |
| Change in cash | - | -€9,303 | €3,973 | €5,270 | €6,096 | -€11,684 | -€3,064 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00457948 |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00326947 |
| 31-12-2023 | micro format | 29-05-2024 | 2024-00101542 |
| 31-12-2022 | micro format | 12-04-2023 | 2023-00058802 |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20165766 |
| 31-12-2020 | micro format | 04-05-2021 | 2021-13100338 |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16700445 |
| 31-12-2018 | micro format | 06-06-2019 | 2019-16400129 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ZAPISEK Wojciech |
|
Owners and capital
Capital and shareholders
- 10-11-2023 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
10-11
Gazette deed
Resignation: ZAPISEK Wojciech (manager)Appointment: ZAPISEK Wojciech (director) · Capital conversion · Amendment of the articles6 facts ▸
- General meeting, 22-06-2023
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital conversion, “suppression, rendre ces fonds disponibles pour distribution” (deed in French)
- Amendment of the articles
- Director resignation, ZAPISEK Wojciech (manager)
- Director appointment, ZAPISEK Wojciech (director (not named in the articles))
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0684.833.262
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21443C0190/00Y012 | Brussels | 368 m² | 1 · 111 m² | 18.9 m · 5 |
| 21572B0080/00A005 | Brussels | 213 m² | 1 · 277 m² | 18.7 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'achat, la vente, le lotissement, la promotion, la démolition, la reconstruction, la transformation, la rénovation, la mise en valeur, la…” (deed in French)
5 activities (deed in French)
- L'achat, la vente, le lotissement, la promotion, la démolition, la reconstruction, la transformation, la rénovation, la mise en valeur, la location, la sous-location, la gestion et l'entretien de tous biens immeubles bâtis ou non, la négociation de tous accords et contrats, pour son compte, se rapportant à des droits immobiliers ou mobiliers en découlant directement et tous services s'y rapportant, la construction, le parachèvement, l’entretien et la rénovation d’immeubles.
- Elle pourra de plus faire toutes opérations industrielles, commerciales, financières ou civiles, mobilières et immobilières, ayant un rapport direct ou indirect avec son objet.
- Elle peut constituer hypothèque ou toute autre sûreté réelle sur les biens sociaux ou se porter caution. Elle peut aussi prêter à toutes sociétés et/ou personnes physiques et se porter caution pour elles.
- Elle peut être organe de gestion d’autres sociétés.
- Elle peut s’intéresser par voie d’apport, de fusion, de souscription, ou de toute autre manière à d’autres entreprises ou sociétés belges ou étrangères dont le but se rattacherait à l’objet de la présente société ou qui serait utile au développement ou à l’amélioration de ses affaires.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- IMMO DEVELOPMENT DAVID
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, annexe au Moniteur Belge par organe d’administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, assemblée à laquelle tous actionnaires présents ou représentés peut renoncer par décision unanime audit rapport si actions non…” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Fourth Monday of May at 15:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Cas prévus par loi, décision assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Assemblée des associés désigne un ou plusieurs liquidateurs conformément au Code, organe d'administration” (deed in French)