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IMMO DULO

Active
Private limited companyfounded 1994active for 32 yearsBleken 35, 2990 Wuustwezel, BelgiumKBO/BCE: BE 0452.476.294
Summary

IMMO DULO has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €165,717 and a net result of €20,066. Equity is growing by about 4% per year across the filed financial years. Its solvency ranks better than 53% of 857 sector peers (NACE 55, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).

Financials · financial year 2025, abbreviated format

Turnover
€17,495▲ 7.1%
2019 · €16,338
EBIT margin
83.9%▲ 15.1pp
2019 · 68.8%
Net result
€20,066▲ 1,029%
2024 · €1,778
Working capital
-€89,611▲ 7.5%
2024 · -€96,872
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result recovers in 2025; 2025 is 316% above 2024 and is 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.

Turnover€17,495 2020 Operating result€31,971 2025 Net result€20,066 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 55, Accommodation: 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).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€16,144-€16,338▲ 1.2%€17,495▲ 7.1%
Operating result€5,988-€11,235▲ 87.6%€14,671▲ 30.6%€13,259▼ 9.6%€17,157▲ 29.4%€9,748▼ 43.2%€7,686▼ 21.1%€31,971▲ 316%
Net result€6,375-€10,256▲ 60.9%€13,404within the sector's middle half▲ 30.7%€13,040within the sector's middle half▼ 2.7%€12,699within the sector's middle half▼ 2.6%€8,132within the sector's middle half▼ 36.0%€1,778within the sector's middle half▼ 78.1%€20,066within the sector's middle half▲ 1,029%
EBIT margin37.1%-68.8%▲ 31.7pp83.9%▲ 15.1pp
Equity€117,312-€127,568▲ 8.7%€104,612within the sector's middle half▼ 18.0%€117,652within the sector's middle half▲ 12.5%€130,351within the sector's middle half▲ 10.8%€128,483within the sector's middle half▼ 1.4%€130,261within the sector's middle half▲ 1.4%€165,717within the sector's middle half▲ 27.2%
Total assets€122,131-€136,131▲ 11.5%€116,515below the sector's middle half▼ 14.4%€128,885below the sector's middle half▲ 10.6%€151,476within the sector's middle half▲ 17.5%€140,709within the sector's middle half▼ 7.1%€521,549below the sector's middle half▲ 271%€534,432within the sector's middle half▲ 2.5%
Debt€4,819-€8,563▲ 77.7%€11,903▲ 39.0%€11,233▼ 5.6%€21,125▲ 88.1%€12,226▼ 42.1%€391,288▲ 3,100%€363,585▼ 7.1%
Working capital€61,710-€71,966▲ 16.6%€49,010above the sector's middle half▼ 31.9%€62,049within the sector's middle half▲ 26.6%€47,052above the sector's middle half▼ 24.2%€10,252within the sector's middle half▼ 78.2%-€96,872within the sector's middle half-€89,611within the sector's middle half▲ 7.5%
Solvency96.1%-93.7%▼ 2.3pp89.8%above the sector's middle half▼ 3.9pp91.3%above the sector's middle half▲ 1.5pp86.1%above the sector's middle half▼ 5.2pp91.3%above the sector's middle half▲ 5.3pp25.0%within the sector's middle half▼ 66.3pp31.0%within the sector's middle half▲ 6.0pp
Current ratio13.81-9.40▼ 4.405.12above the sector's middle half▼ 4.296.52above the sector's middle half▲ 1.413.23above the sector's middle half▼ 3.301.84above the sector's middle half▼ 1.390.30below the sector's middle half▼ 1.540.22below the sector's middle half▼ 0.08
Return on assets (ROA)5.2%-7.5%▲ 2.3pp11.5%above the sector's middle half▲ 4.0pp10.1%above the sector's middle half▼ 1.4pp8.4%above the sector's middle half▼ 1.7pp5.8%within the sector's middle half▼ 2.6pp0.3%within the sector's middle half▼ 5.4pp3.8%within the sector's middle half▲ 3.4pp
above within below the middle half of NACE 55, Accommodation: 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €534,432
Fixed assets €509,140 ▲ 6.2%
Current assets €25,292 ▼ 39.7%
Equity and liabilities €534,432
Equity €165,717 ▲ 27.2%
Provisions €5,130
Debt €363,585 ▼ 7.1%
Debt's share of the balance-sheet total falls from 75.0% to 68.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€75,509▲
2024 · €29,334
Cash flow
€63,605▲
2024 · €23,426
Debt to equity
2.19▼
2024 · 3.00
ROE
12.1%▲
2024 · 1.4%
Interest coverage
6.25▲
2024 · 4.96
Debt ≤ 1 year
€114,903▼
2024 · €138,804
Debt > 1 year
€241,798▼
2024 · €251,575
Income taxes
€915▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,766 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96.2% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96.2% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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 14,766 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet Code20242025
Assets
Total assets20/58€521,549€534,432▲
Fixed assets21/28€479,617€509,140▲
Tangible fixed assets22/27€479,617€509,140▲
Land and buildings22€284,506€265,446▼
Plant, machinery and equipment23-€2,566
Furniture and vehicles24€28,141€24,392▼
Other tangible fixed assets26€166,970€216,736▲
Current assets29/58€41,932€25,292▼
Amounts receivable within one year40/41€22,573€10,696▼
Trade receivables40€11,523€10,111▼
Other amounts receivable41€11,050€585▼
Cash at bank and in hand54/58€18,943€12,804▼
Deferred charges and accrued income490/1€417€1,792▲
Equity and liabilities
Total equity and liabilities10/49€521,549€534,432▲
Equity10/15€130,261€165,717▲
Contributions10/11€18,600€18,600=
Reserves13€111,661€131,727▲
Distributable reserves133€111,661€131,727▲
Profit (loss) carried forward14€0-
Investment grants15-€15,390
Provisions and deferred taxes16-€5,130
Deferred taxes168-€5,130
Amounts payable17/49€391,288€363,585▼
Amounts payable after more than one year17€251,575€241,798▼
Financial debts170/4€251,575€241,798▼
Amounts payable within one year42/48€138,804€114,903▼
Current portion of amounts payable after more than one year42€9,444€9,777▲
Trade debts44€26,520€3,776▼
Suppliers440/4€26,520€3,776▼
Advances received on contracts in progress46€1,485€0▼
Taxes, remuneration and social security45-€1,923
Taxes450/3-€1,923
Other amounts payable47/48€101,355€99,427▼
Accrued charges and deferred income492/3€908€6,884▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21,648€43,538▲
Other operating charges640/8€6,015€3,176▼
Gross operating margin9900€35,349€78,685▲
Operating profit (loss)9901€7,686€31,971▲
Financial income75/76B€0€813▲
Recurring financial income75€0€813▲
Financial charges65/66B€5,908€12,072▲
Recurring financial charges65€5,908€12,072▲
Profit (loss) for the period before taxes9903€1,778€20,712▲
Transfer from deferred taxes780-€270
Income taxes67/77€0€915▲
Profit (loss) for the period9904€1,778€20,066▲
Profit (loss) for the period to be appropriated9905€1,778€20,066▲
Appropriation of the result
Profit (loss) to be appropriated9906€1,778€20,066▲
Transfer from equity791/2€0-
Transfer to equity691/2€1,778€20,066▲
To other reserves6921€1,778€20,066▲
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Turnover70€16,144€16,338€17,495------
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,338---€327€9,171€21,648€43,538▲ 101%
Other operating charges640/8---€1,610€1,995€2,187€6,015€3,176▼ 47.2%
Gross operating margin9900€13,422€11,333€14,771€14,869€19,479€21,106€35,349€78,685▲ 123%
Operating profit (loss)9901€5,988€11,235€14,671€13,259€17,157€9,748€7,686€31,971▲ 316%
Financial income75/76B---€4,038€0€134€0€813▲ 4,064,700%
Recurring financial income75€5,038€5,685€6,641€4,038€0€134€0€813▲ 4,064,700%
Financial charges65/66B---€21€36€151€5,908€12,072▲ 104%
Recurring financial charges65€14€15€21€21€36€151€5,908€12,072▲ 104%
Profit (loss) for the period before taxes9903€11,094€16,905€21,291€17,276€17,121€9,730€1,778€20,712▲ 1,065%
Transfer from deferred taxes780-------€270-
Income taxes67/77€4,719€6,649€7,887€4,236€4,422€1,599€0€915-
Profit (loss) for the period9904€6,375€10,256€13,404€13,040€12,699€8,132€1,778€20,066▲ 1,029%
Profit (loss) for the period to be appropriated9905€6,375€10,256€13,404€13,040€12,699€8,132€1,778€20,066▲ 1,029%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€122,131€136,131€116,515€128,885€151,476€140,709€521,549€534,432▲ 2.5%
Fixed assets21/28€55,602€55,602€55,602€55,603€83,299€118,231€479,617€509,140▲ 6.2%
Tangible fixed assets22/27€55,602€55,602€55,602€55,603€83,299€118,231€479,617€509,140▲ 6.2%
Land and buildings22---€55,603€55,603€95,349€284,506€265,446▼ 6.7%
Plant, machinery and equipment23----€3,885€0-€2,566-
Furniture and vehicles24----€23,812€22,881€28,141€24,392▼ 13.3%
Other tangible fixed assets26------€166,970€216,736▲ 29.8%
Current assets29/58€66,529€80,529€60,913€73,283€68,177€22,479€41,932€25,292▼ 39.7%
Amounts receivable within one year40/41€66,101€78,704€58,150€70,517€0€1,413€22,573€10,696▼ 52.6%
Trade receivables40-----€1,012€11,523€10,111▼ 12.2%
Other amounts receivable41---€70,517€0€401€11,050€585▼ 94.7%
Cash at bank and in hand54/58€428€1,825€2,763€2,766€68,177€20,093€18,943€12,804▼ 32.4%
Deferred charges and accrued income490/1-----€973€417€1,792▲ 330%
Equity and liabilities
Total equity and liabilities10/49€122,131€136,131€116,515€128,885€151,476€140,709€521,549€534,432▲ 2.5%
Equity10/15€117,312€127,568€104,612€117,652€130,351€128,483€130,261€165,717▲ 27.2%
Contributions10/11€54,960€54,960€18,600€18,600€18,600€18,600€18,600€18,600=
Reserves13€5,496€5,496€18,900€18,900€111,751€109,883€111,661€131,727▲ 18.0%
Non-distributable reserves130/1---€5,496€0----
Reserves not available under the articles1311---€5,496€0----
Distributable reserves133---€13,404€111,751€109,883€111,661€131,727▲ 18.0%
Profit (loss) carried forward14€56,856€67,112€67,112€80,152€0€0€0--
Investment grants15-------€15,390-
Provisions and deferred taxes16-------€5,130-
Deferred taxes168-------€5,130-
Amounts payable17/49€4,819€8,563€11,903€11,233€21,125€12,226€391,288€363,585▼ 7.1%
Amounts payable after more than one year17------€251,575€241,798▼ 3.9%
Financial debts170/4------€251,575€241,798▼ 3.9%
Amounts payable within one year42/48€4,819€8,563€11,903€11,233€21,125€12,226€138,804€114,903▼ 17.2%
Current portion of amounts payable after more than one year42------€9,444€9,777▲ 3.5%
Trade debts44€1,537---€15,592€0€26,520€3,776▼ 85.8%
Suppliers440/4----€15,592€0€26,520€3,776▼ 85.8%
Advances received on contracts in progress46-----€1,665€1,485€0▼ 100%
Taxes, remuneration and social security45---€11,233€5,533€0-€1,923-
Taxes450/3---€11,233€5,533€0-€1,923-
Other amounts payable47/48-----€10,561€101,355€99,427▼ 1.9%
Accrued charges and deferred income492/3------€908€6,884▲ 658%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€6,375€10,256€13,404€13,040€12,699€8,132€1,778€20,066▲ 1,029%
+ Depreciation and write-downs630€7,338---€327€9,171€21,648€43,538▲ 101%
Operating cash flow (approximation)€13,713€10,256€13,404€13,040€13,026€17,303€23,426€63,605▲ 172%
Investment in fixed assets (approximation)-€0€0-€1-€28,023-€44,103-€383,034-€73,062▲ 80.9%
Change in cash-€1,397€938€3€65,411-€48,084-€1,150-€6,139▼ 434%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 32 filings with the National Bank
Financial year Type Filed Reference
31-12-2025 abbreviated format 07-07-2026 2026-00261704
31-12-2024 abbreviated format 29-07-2025 2025-00357498
31-12-2023 micro format 25-07-2024 2024-00289978
31-12-2022 micro format 11-07-2023 2023-00225407
31-12-2021 abbreviated format 24-11-2022 2022-20524737
31-12-2020 micro format 18-06-2021 2021-21500091
31-12-2019 abbreviated format 15-06-2020 2020-17100277
31-12-2018 abbreviated format 14-06-2019 2019-18500044
31-12-2017 abbreviated format 21-06-2018 2018-21400303
31-12-2016 abbreviated format 27-06-2017 2017-22600077

Show all 32 filings

Similar companies · same sector, comparable size

Of the 2,990 active companies whose main activity is holiday cottages, homes and apartments (NACE 55203), figures are known for 702. 516 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Subsidies and aid

Flemish government

2024 to 2025 · 2 entries · €21,600 awarded · €21,600 paid
Year Entries AwardedPaid
2025 1 €0€21,600
2024 1 €21,600€0
Schemes
2 entries · €21,600 · €21,600 paid · Toerisme Vlaanderen

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.