IMMO GLOBAL
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 34 filings
Turnover
≈ €280,000
Estimated: probably between €220,000 and €380,000
Total assets
€500,334▲ 6.8%
2024 · €468,433
Net result
€94,430▼ 86.0%
2024 · €676,463
Working capital
€141,519▲ 954%
2024 · €13,429
In the rankings
#10 oldest company in Ravels, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€126,222
▼ 86.0%
2025
20182025
Net result
€94,430
▼ 86.0%
2025
highest quarter of the sector
20182025
Equity
€492,175
▲ 23.7%
2025
middle half of the sector
20182025
Total assets
€500,334
▲ 6.8%
2025
lowest quarter of the sector
20182025
Debt
€8,160
▼ 88.5%
2025
20182025
Working capital
€141,519
▲ 954%
2025
middle half of the sector
20182025
Solvency
98.4%
▲ 13.5pp
2025
highest quarter of the sector
20182025
Current ratio
18.34
▲ 17.15
2025
highest quarter of the sector
20182025
Return on assets (ROA)
18.9%
▼ 125.5pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.09m▼ 50.8%-€0.03m€0.007m€0.01m▲ 63.0%€2.3m▲ 187×€0.9m▼ 60.1%€0.1m▼ 86.0%
Net result€0.2m-€0.06m▼ 61.1%-€0.03mbelow the sector's middle half€0.004mwithin the sector's middle half-€0.06mbelow the sector's middle half€1.8mabove the sector's middle half€0.7mabove the sector's middle half▼ 61.5%€0.09mabove the sector's middle half▼ 86.0%
Equity€0.9m-€0.7m▼ 18.4%€0.7mabove the sector's middle half▼ 3.5%€0.7mabove the sector's middle half▲ 0.6%€0.7mabove the sector's middle half▼ 8.9%€0.2mwithin the sector's middle half▼ 66.5%€0.4mabove the sector's middle half▲ 79.7%€0.5mwithin the sector's middle half▲ 23.7%
Total assets€1.0m-€0.8m▼ 14.1%€0.8mwithin the sector's middle half▼ 10.6%€1.4mabove the sector's middle half▲ 85.0%€3.0mabove the sector's middle half▲ 118%€0.5mwithin the sector's middle half▼ 82.5%€0.5mwithin the sector's middle half▼ 11.9%€0.5mbelow the sector's middle half▲ 6.8%
Debt€0.06m-€0.09m▲ 48.6%€0.03m▼ 66.4%€0.7m▲ 21×€2.4m▲ 256%€0.3m▼ 86.9%€0.07m▼ 77.2%€0.008m▼ 88.5%
Working capital€0.04m--€0.03m-€0.02mwithin the sector's middle half▲ 9.7%€0.7mabove the sector's middle half€1.6mabove the sector's middle half▲ 123%-€0.2mbelow the sector's middle half€0.01mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 954%
Solvency93.5%-88.8%▼ 4.7pp95.8%above the sector's middle half▲ 7.0pp52.1%within the sector's middle half▼ 43.7pp21.8%within the sector's middle half▼ 30.3pp41.6%within the sector's middle half▲ 19.8pp84.9%above the sector's middle half▲ 43.3pp98.4%above the sector's middle half▲ 13.5pp
Current ratio1.57-0.59▼ 0.980.27below the sector's middle half▼ 0.3241.78above the sector's middle half▲ 41.502.91above the sector's middle half▼ 38.870.37below the sector's middle half▼ 2.541.19within the sector's middle half▲ 0.8218.34above the sector's middle half▲ 17.15
Return on assets (ROA)16.3%-7.4%▼ 8.9pp-3.5%below the sector's middle half▼ 10.9pp0.3%within the sector's middle half▲ 3.8pp-2.1%below the sector's middle half▼ 2.4pp330.6%above the sector's middle half▲ 332.7pp144.4%above the sector's middle half▼ 186.2pp18.9%above the sector's middle half▼ 125.5pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 86% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Large changes and their cause
- 2025 Net result -86% on 2024. The accounts now follow the abbreviated format, last year the micro format.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €500,334
Fixed assets
€350,655 ▼ 8.8%
Current assets
€149,679 ▲ 77.9%
Equity and liabilities €500,334
Equity
€492,175 ▲ 23.7%
Debt
€8,160 ▼ 88.5%
Debt's share of the balance-sheet total falls from 15.1% to 1.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€159,883▼
2024 · €935,761
Cash flow
€128,091▼
2024 · €710,124
Debt to equity
0.02▼
2024 · 0.18
ROE
19.2%▼
2024 · 170.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€8,160▼
2024 · €70,688
Income taxes
€31,613▼
2024 · €225,488
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €40,846 | - | - | - |
| Financial fixed assets | €500 | - | - | - | - |
| Depreciation and write-downs of the year | €74,726 | €76,435 | €43,137 | €33,661 | €33,661 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.08m | €0.08m | €0.07m | €0.08m | €0.04m | €0.03m | €0.03m | = |
| Other operating charges640/8 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 3.9% |
| Gross operating margin9900 | €0.3m | €0.2m | €0.08m | €0.1m | €0.1m | €2.3m | €1.0m | €0.2m | ▼ 80.0% |
| Operating profit (loss)9901 | €0.2m | €0.09m | -€0.03m | €0.007m | €0.01m | €2.3m | €0.9m | €0.1m | ▼ 86.0% |
| Recurring financial income75 | €2 | €0 | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.003m | €0.06m | €0.01m | €150 | €180 | ▲ 20.0% |
| Recurring financial charges65 | €120 | €134 | €231 | €0.003m | €0.06m | €0.01m | €150 | €180 | ▲ 20.0% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.09m | -€0.03m | €0.004m | -€0.04m | €2.2m | €0.9m | €0.1m | ▼ 86.0% |
| Income taxes67/77 | €0.02m | €0.03m | - | - | €0.02m | €0.5m | €0.2m | €0.03m | ▼ 86.0% |
| Profit (loss) for the period9904 | €0.2m | €0.06m | -€0.03m | €0.004m | -€0.06m | €1.8m | €0.7m | €0.09m | ▼ 86.0% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.06m | -€0.03m | €0.004m | -€0.06m | €1.8m | €0.7m | €0.09m | ▼ 86.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €0.8m | €0.8m | €1.4m | €3.0m | €0.5m | €0.5m | €0.5m | ▲ 6.8% |
| Fixed assets21/28 | €0.9m | €0.8m | €0.7m | €0.7m | €0.6m | €0.4m | €0.4m | €0.4m | ▼ 8.8% |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.7m | €0.7m | €0.6m | €0.4m | €0.4m | €0.4m | ▼ 8.8% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.4m | €0.4m | €0.3m | ▼ 8.4% |
| Plant, machinery and equipment23 | - | - | - | - | €0.04m | €0.03m | €0.03m | €0.03m | ▼ 13.5% |
| Financial fixed assets28 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.1m | €0.04m | €0.009m | €0.7m | €2.4m | €0.1m | €0.08m | €0.1m | ▲ 77.9% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.01m | €0.006m | €0.006m | = |
| Other amounts receivable291 | - | - | - | - | - | €0.01m | €0.006m | €0.006m | = |
| Stocks and contracts in progress3 | - | - | - | €0.3m | €0.7m | - | - | - | - |
| Contracts in progress37 | - | - | - | €0.3m | €0.7m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.009m | €0.003m | €0.001m | €0.07m | €1.2m | €0.08m | €0.03m | €0.009m | ▼ 73.5% |
| Trade receivables40 | - | - | - | €0.06m | €1.2m | €0.06m | €0.02m | €0.009m | ▼ 41.3% |
| Other amounts receivable41 | - | - | - | €0.004m | - | €0.01m | €0.02m | - | - |
| Cash at bank and in hand54/58 | €0.05m | €0.03m | €0.008m | €0.3m | €0.5m | €0.03m | €0.04m | €0.1m | ▲ 204% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.004m | - | €0.001m | €0.001m | ▲ 0.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €0.8m | €0.8m | €1.4m | €3.0m | €0.5m | €0.5m | €0.5m | ▲ 6.8% |
| Equity10/15 | €0.9m | €0.7m | €0.7m | €0.7m | €0.7m | €0.2m | €0.4m | €0.5m | ▲ 23.7% |
| Contributions10/11 | €0.2m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Revaluation surpluses12 | - | - | - | €0.6m | €0.2m | - | - | - | - |
| Reserves13 | €0.09m | €0.07m | €0.07m | €0.07m | €0.5m | €0.07m | €0.07m | €0.07m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.004m | €0.004m | €0.004m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.004m | €0.004m | €0.004m | = |
| Distributable reserves133 | - | - | - | €0.06m | €0.5m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | - | - | -€0.03m | -€0.02m | -€0.09m | €0.09m | €0.3m | €0.4m | ▲ 35.0% |
| Amounts payable17/49 | €0.06m | €0.09m | €0.03m | €0.7m | €2.4m | €0.3m | €0.07m | €0.008m | ▼ 88.5% |
| Amounts payable after more than one year17 | - | - | - | €0.7m | €1.6m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.7m | €1.6m | - | - | - | - |
| Amounts payable within one year42/48 | €0.06m | €0.06m | €0.03m | €0.02m | €0.8m | €0.3m | €0.07m | €0.008m | ▼ 88.5% |
| Trade debts44 | €0.002m | €0.003m | €0.03m | €0.02m | €0.07m | €0.01m | €0.07m | €0.004m | ▼ 93.8% |
| Suppliers440/4 | - | - | - | €0.02m | €0.07m | €0.01m | €0.07m | €0.004m | ▼ 93.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.8m | - | - | €0.004m | - |
| Taxes450/3 | - | - | - | - | €0.8m | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | - | - | €0.3m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.06m | -€0.03m | €0.004m | -€0.06m | €1.8m | €0.7m | €0.09m | ▼ 86.0% |
| + Depreciation and write-downs630 | €0.08m | €0.08m | €0.08m | €0.07m | €0.08m | €0.04m | €0.03m | €0.03m | = |
| Operating cash flow (approximation) | €0.2m | €0.1m | €0.05m | €0.08m | €0.01m | €1.8m | €0.7m | €0.1m | ▼ 82.0% |
| Investment in fixed assets (approximation) | - | €0 | -€0.01m | -€0.001m | -€0.04m | €0.2m | €0 | €0 | - |
| Change in cash | - | -€0.02m | -€0.03m | €0.3m | €0.2m | -€0.5m | €0.02m | €0.09m | ▲ 387% |
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, 20,136 companies had the same profile as IMMO GLOBAL has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of IMMO GLOBAL 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 20,136 companies, not a prediction for IMMO GLOBAL. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00328121 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00344555 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00279971 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00199818 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20106865 | |
| 31-12-2020 | micro format | 23-07-2021 | 2021-39500353 | |
| 31-12-2019 | micro format | 13-08-2020 | 2020-41800099 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56400193 | |
| 31-12-2017 | micro format | 19-06-2018 | 2018-20600080 | |
| 31-12-2016 | abbreviated format | 22-06-2017 | 2017-20700313 |