IMMO DVR
ActiveSummary
IMMO DVR has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €484k and a net result of €52k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 70% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+4
Solvency90▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity short (current ratio 0.65 against 0.83 in 2024; short-term debt: 15.2% and cash: 4.4% of total assets), and 35.2% 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
64.8%
Return on assets
7%
Age of the figures
9 mo
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 21-04-2026, 101 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
101 d early
2024
7 d early
2023
33 d early
2022
13 d early
2021
5 d early
2020
23 d early
2019
25 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€52k▲ 64.3%
2024 · €32k
2018: €9k
2019: €9k▼ -6.8% vs 2018
2020: €10k▲ +16.3% vs 2019
2021: €7k▼ -31.4% vs 2020lowest in 8 years
2022: €10k▲ +44.1% vs 2021
2023: €28k▲ +186% vs 2022
2024: €32k▲ +13.7% vs 2023
2025: €52k▲ +64.3% vs 2024highest in 8 years
2018 → 2025
Working capital
€-39k▼ 171%
2024 · €-15k
2018: €-29k
2019: €-32k▼ -11.1% vs 2018
2020: €-32k▲ +0.7% vs 2019
2021: €-40k▼ -23.8% vs 2020
2022: €-43k▼ -8.0% vs 2021lowest in 8 years
2023: €-26k▲ +40.0% vs 2022
2024: €-15k▲ +43.7% vs 2023highest in 8 years
2025: €-39k▼ -171% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€411k-€422k▲ 2.6%€450k▲ 6.6%€474k▲ 5.3%€484k▲ 2.2%
2021: €411klowest in 5 years
2022: €422k▲ +2.6% vs 2021
2023: €450k▲ +6.6% vs 2022
2024: €474k▲ +5.3% vs 2023
2025: €484k▲ +2.2% vs 2024highest in 5 years
Operating result€30k-€28k▼ 8.7%€53k▲ 94.2%€57k▲ 7.4%€80k▲ 39.2%
2021: €30k
2022: €28k▼ -8.7% vs 2021lowest in 5 years
2023: €53k▲ +94.2% vs 2022
2024: €57k▲ +7.4% vs 2023
2025: €80k▲ +39.2% vs 2024highest in 5 years
Net result€7k-€10k▲ 44.1%€28k▲ 186%€32k▲ 13.7%€52k▲ 64.3%
2021: €7klowest in 5 years
2022: €10k▲ +44.1% vs 2021
2023: €28k▲ +186% vs 2022
2024: €32k▲ +13.7% vs 2023
2025: €52k▲ +64.3% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 39% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €747k
Fixed assets
€673k ▼ 4.8%
Current assets
€74k ▲ 4.1%
Equity and liabilities €747k
Equity
€484k ▲ 2.2%
Debt
€263k ▼ 13.7%
Debt's share of the balance-sheet total falls from 39.1% to 35.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€114k▲
2024 · €92k
Cash flow
€87k▲
2024 · €66k
Current ratio
0.65▼
2024 · 0.83
Debt to equity
0.54▼
2024 · 0.64
ROE
10.8%▲
2024 · 6.7%
ROA
7.0%▲
2024 · 4.1%
Interest coverage
13.58▲
2024 · 9.04
Debt ≤ 1 year
€114k▲
2024 · €86k
Debt > 1 year
€149k▼
2024 · €195k
Income taxes
€19k▲
2024 · €15k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€779k€747k▼
Fixed assets21/28€707k€673k▼
Tangible fixed assets22/27€707k€673k▼
Land and buildings22€707k€673k▼
Current assets29/58€71k€74k▲
Amounts receivable within one year40/41€57k€41k▼
Trade receivables40€26k€0▼
Other amounts receivable41€31k€41k▲
Cash at bank and in hand54/58€15k€33k▲
Equity and liabilities
Total equity and liabilities10/49€779k€747k▼
Equity10/15€474k€484k▲
Contributions10/11€349k€349k=
Reserves13€104k€115k▲
Tax-exempt reserves132€3k€3k=
Distributable reserves133€101k€112k▲
Profit (loss) carried forward14€20k€20k=
Amounts payable17/49€305k€263k▼
Amounts payable after more than one year17€195k€149k▼
Financial debts170/4€195k€149k▼
Amounts payable within one year42/48€86k€114k▲
Current portion of amounts payable after more than one year42€45k€47k▲
Trade debts44€13k€0▼
Suppliers440/4€13k€0▼
Taxes, remuneration and social security45€20k€28k▲
Taxes450/3€20k€28k▲
Other amounts payable47/48€8k€39k▲
Accrued charges and deferred income492/3€24k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34k€34k=
Other operating charges640/8€13k€14k▲
Gross operating margin9900€105k€128k▲
Operating profit (loss)9901€57k€80k▲
Financial income75/76B€75€93▲
Recurring financial income75€75€93▲
Financial charges65/66B€10k€8k▼
Recurring financial charges65€10k€8k▼
Profit (loss) for the period before taxes9903€47k€72k▲
Income taxes67/77€15k€19k▲
Profit (loss) for the period9904€32k€52k▲
Profit (loss) for the period to be appropriated9905€32k€52k▲
Appropriation of the result
Profit (loss) to be appropriated9906€52k€73k▲
Profit (loss) brought forward from the previous period14P€20k€20k=
Transfer from equity791/2€8k€42k▲
Transfer to equity691/2€32k€52k▲
To other reserves6921€32k€52k▲
Profit to be distributed694/7€8k€42k▲
Return on contributions (dividend)694€8k€42k▲
The notes to these accounts (14 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31k | €34k | €34k | €34k | €34k | = |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €-3k | €0 | - | - | - | - |
| Other operating charges640/8 | €8k | €8k | €434 | €13k | €14k | ▲ 3.1% |
| Gross operating margin9900 | €66k | €70k | €88k | €105k | €128k | ▲ 21.8% |
| Operating profit (loss)9901 | €30k | €28k | €53k | €57k | €80k | ▲ 39.2% |
| Financial income75/76B | - | - | - | €75 | €93 | ▲ 23.5% |
| Recurring financial income75 | - | - | - | €75 | €93 | ▲ 23.5% |
| Financial charges65/66B | €15k | €13k | €12k | €10k | €8k | ▼ 17.1% |
| Recurring financial charges65 | €15k | €13k | €12k | €10k | €8k | ▼ 17.1% |
| Profit (loss) for the period before taxes9903 | €15k | €14k | €42k | €47k | €72k | ▲ 51.2% |
| Income taxes67/77 | €9k | €4k | €14k | €15k | €19k | ▲ 24.3% |
| Profit (loss) for the period9904 | €7k | €10k | €28k | €32k | €52k | ▲ 64.3% |
| Transfer from tax-exempt reserves789 | €16k | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23k | €10k | €28k | €32k | €52k | ▲ 64.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €812k | €782k | €773k | €779k | €747k | ▼ 4.0% |
| Fixed assets21/28 | €806k | €776k | €742k | €707k | €673k | ▼ 4.8% |
| Tangible fixed assets22/27 | €806k | €776k | €742k | €707k | €673k | ▼ 4.8% |
| Land and buildings22 | €806k | €776k | €742k | €707k | €673k | ▼ 4.8% |
| Current assets29/58 | €7k | €6k | €31k | €71k | €74k | ▲ 4.1% |
| Amounts receivable within one year40/41 | €2k | €1k | €23k | €57k | €41k | ▼ 27.6% |
| Trade receivables40 | - | - | - | €26k | €0 | ▼ 100% |
| Other amounts receivable41 | €2k | €1k | €23k | €31k | €41k | ▲ 32.7% |
| Cash at bank and in hand54/58 | €4k | €4k | €8k | €15k | €33k | ▲ 127% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €812k | €782k | €773k | €779k | €747k | ▼ 4.0% |
| Equity10/15 | €411k | €422k | €450k | €474k | €484k | ▲ 2.2% |
| Contributions10/11 | €349k | €349k | €349k | €349k | €349k | = |
| Reserves13 | €42k | €53k | €81k | €104k | €115k | ▲ 10.0% |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Tax-exempt reserves132 | €0 | €3k | €3k | €3k | €3k | = |
| Distributable reserves133 | €40k | €48k | €77k | €101k | €112k | ▲ 10.4% |
| Profit (loss) carried forward14 | €20k | €20k | €20k | €20k | €20k | = |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - | - |
| Major repairs and maintenance162 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €401k | €360k | €323k | €305k | €263k | ▼ 13.7% |
| Amounts payable after more than one year17 | €321k | €281k | €239k | €195k | €149k | ▼ 23.4% |
| Financial debts170/4 | €321k | €281k | €239k | €195k | €149k | ▼ 23.4% |
| Amounts payable within one year42/48 | €46k | €49k | €57k | €86k | €114k | ▲ 32.3% |
| Current portion of amounts payable after more than one year42 | €39k | €42k | €43k | €45k | €47k | ▲ 4.0% |
| Trade debts44 | €4k | €6k | €5k | €13k | €0 | ▼ 100% |
| Suppliers440/4 | €4k | €6k | €5k | €13k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €3k | €1k | €9k | €20k | €28k | ▲ 41.1% |
| Taxes450/3 | €3k | €1k | €9k | €20k | €28k | ▲ 41.1% |
| Other amounts payable47/48 | - | - | - | €8k | €39k | ▲ 410% |
| Accrued charges and deferred income492/3 | €33k | €30k | €27k | €24k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €10k | €28k | €32k | €52k | ▲ 64.3% |
| + Depreciation and write-downs630 | €31k | €34k | €34k | €34k | €34k | = |
| Operating cash flow (approximation) | €38k | €44k | €62k | €66k | €87k | ▲ 31.0% |
| Investment in fixed assets (approximation) | - | €-4k | €0 | €0 | €0 | - |
| Change in cash | - | €-256 | €4k | €7k | €19k | ▲ 164% |
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
29-07
State Gazette act
Resignation: De Vlieger Ruddy (director)Appointments: Christophe Vandecasteele, MATTOS and VDN Invest · Permanent representatives: Vincent Kesteloot and Nathalie Vandecasteele · Director discharge8 facts ▸
State Gazette act
Resignation: De Vlieger Ruddy (director)
Appointments: Christophe Vandecasteele, MATTOS and VDN Invest · Permanent representatives: Vincent Kesteloot and Nathalie Vandecasteele · Director discharge8 facts ▸
- General meeting, 01/04/2026
- Director resignation, De Vlieger Ruddy (director)
- Director discharge, De Vlieger Ruddy
- Director appointment, Christophe Vandecasteele (director)
- Director appointment, MATTOS (director)
- Permanent representative, Vincent Kesteloot
- Director appointment, VDN Invest (director)
- Permanent representative, Nathalie Vandecasteele
21-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €52k ▲64.3%
Operating result €80k, net result €52k, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €7k ▼31.4%
Net result drops to €7k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 25 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 3 days late
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts 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.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26097621). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Christophe Vandecasteele
CurrentDirector · since 01-04-2026
MATTOS
CurrentDirector · since 01-04-2026 · Private limited company · perm. rep.: Vincent Kesteloot
VDN INVEST
CurrentDirector · since 01-04-2026 · Private limited company · perm. rep.: Nathalie Vandecasteele
01-04-2026
Christophe Vandecasteele: Appointed as Director
01-04-2026
MATTOS: Appointed as Director
01-04-2026
VDN INVEST: Appointed as Director
31-03-2026
De Vlieger Ruddy: Resigned as Director
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2006
Ground area
2,865 m²
Building footprint
1,165 m²
Parcel 54003S0509/00C000, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
IMMO DVR
since 20062.160.008.668
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54003S0509/00C000 | Wallonia | 2,865 m² | 1 · 1,165 m² | - |
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.
Structure & network
Connections & network
1 connected companyLinked via shared directors
Shared corporate director
→
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,729 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
Founded04-12-2006
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.