IMMO J.M.
ActiveSummary
IMMO J.M. has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €117,995 and a net result of €4,411. Equity is shrinking by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 23% of 9728 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Development of residential building projects
NACE 68121Real estate development NACE 41101NACE 70111
1 site
How big
€2.1mtotal assets 2024
- Equity
- €117,995
- Profit
- €4,411
Turnover not published (abridged schema)
Who decides
- Parent
- FM IMMO · 81.62%
- Holdings
- 2
Accounts 62 d overdue0 of 3 deeds read
Why 57- Weak solvency vs sector- Filed more than 90 days late+ Lower-failure-rate sector+ Long track recordShow the evidence
Checked score
Score 2024
Axes · tick = 2023
Profitability38=
Solvency31▼-4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Liquidity ample (current ratio 4.64 against 5.02 in 2023; short-term debt: 17.5% and cash: 1.3% of total assets), but 94.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 9728 sector peers (2024).
NBB · sector comparisonPosition among 9728 sector peers
Solvency
better than 23%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-11-2025, 117 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
117 d late
2023
470 d late
2022
371 d late
2021
153 d late
2020
30 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 206 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
- Annual accounts filedfiscal year 2024 · abbreviated…
- Annual accounts filedfiscal year 2023 · abbreviated…
- Annual accounts filedfiscal year 2022 · abbreviated…
Financials
Fiscal year 2024Total assets €2.1mProfit €4,411Solvency 5.7%Liquidity 4.64
Total assets
€2.1m▼ 8.6%
2018 - 2024
Net result
€4,411▼ 11.9%
2018 - 2024
Equity
€117,995▼ 47.2%
2018 - 2024
Solvency
5.7%▼ 4.2pp
2018 - 2024
Financials · fiscal year 2024, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€0.09m▼ 42.3%-€0.09m€364€0.008m▲ 2,199%€0.01m▲ 22.7%
Net result€0.05mwithin the sector's middle half-€0.06mbelow the sector's middle half€0.003mwithin the sector's middle half€0.005mwithin the sector's middle half▲ 74.1%€0.004mwithin the sector's middle half▼ 11.9%
Equity€0.3mwithin the sector's middle half▼ 36.5%€0.2mwithin the sector's middle half▼ 20.6%€0.2mwithin the sector's middle half▲ 1.3%€0.2mwithin the sector's middle half▲ 2.3%€0.1mwithin the sector's middle half▼ 47.2%
Total assets€2.7mwithin the sector's middle half▼ 16.8%€2.3mwithin the sector's middle half▼ 13.9%€2.2mwithin the sector's middle half▼ 3.7%€2.3mwithin the sector's middle half▲ 1.0%€2.1mwithin the sector's middle half▼ 8.6%
Debt€2.4m▼ 14.0%€2.1m▼ 11.5%€2.0m▼ 4.2%€2.0m▲ 0.9%€2.0m▼ 4.3%
Working capital€1.6mabove the sector's middle half▼ 0.3%€1.5mabove the sector's middle half▼ 6.1%€1.5mabove the sector's middle half▼ 2.3%€1.5mabove the sector's middle half▼ 1.3%€1.3mabove the sector's middle half▼ 10.5%
Solvency10.1%below the sector's middle half▼ 3.1pp9.3%below the sector's middle half▼ 0.8pp9.8%within the sector's middle half▲ 0.5pp9.9%within the sector's middle half▲ 0.1pp5.7%below the sector's middle half▼ 4.2pp
Current ratio3.41above the sector's middle half▲ 0.024.83above the sector's middle half▲ 1.425.28above the sector's middle half▲ 0.455.02above the sector's middle half▼ 0.264.64above the sector's middle half▼ 0.38
Return on assets (ROA)2.0%within the sector's middle half▲ 2.0pp-2.4%below the sector's middle half▼ 4.4pp0.1%within the sector's middle half▲ 2.5pp0.2%within the sector's middle half▲ 0.1pp0.2%within the sector's middle half=
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 23% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.1m
Fixed assets
€383,594 ▼ 8.2%
Current assets
€1.7m ▼ 8.7%
Equity and liabilities €2.1m
Equity
€117,995 ▼ 47.2%
Debt
€2.0m ▼ 4.3%
Debt's share of the balance-sheet total rises from 90.1% to 94.3%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
Quick ratio
1.31▼
2023 · 1.65
Debt to equity
16.54▲
2023 · 9.12
ROE
3.7%▲
2023 · 2.2%
Debt ≤ 1 year
€363,035▼
2023 · €367,638
Debt > 1 year
€1.6m▼
2023 · €1.7m
Income taxes
€0▼
2023 · €848
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,216 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
2.5%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,341 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% | 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% 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 1,216 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.
Filed annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €63,966 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,350 | - | - | - | - | - |
| Other operating charges640/8 | - | €12,111 | €2,476 | €10,292 | €7,121 | ▼ 30.8% |
| Gross operating margin9900 | €102,122 | -€80,181 | €2,840 | €18,659 | €17,385 | ▼ 6.8% |
| Operating profit (loss)9901 | €86,137 | -€92,292 | €364 | €8,367 | €10,263 | ▲ 22.7% |
| Financial income75/76B | - | €61 | €16,466 | €0 | €1 | - |
| Recurring financial income75 | €7 | €61 | €16,466 | €0 | €1 | - |
| Financial charges65/66B | - | €7,974 | €13,916 | €2,515 | €5,853 | ▲ 133% |
| Recurring financial charges65 | €34,578 | €7,974 | €13,916 | €2,515 | €5,853 | ▲ 133% |
| Profit (loss) for the period before taxes9903 | €51,566 | -€100,204 | €2,914 | €5,852 | €4,411 | ▼ 24.6% |
| Transfer from deferred taxes780 | - | €44,252 | - | - | - | - |
| Income taxes67/77 | -€209 | - | €40 | €848 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €53,619 | -€55,953 | €2,874 | €5,004 | €4,411 | ▼ 11.9% |
| Transfer from tax-exempt reserves789 | - | €85,939 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €57,200 | €29,986 | €2,874 | €5,004 | €4,411 | ▼ 11.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.3m | €2.2m | €2.3m | €2.1m | ▼ 8.6% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.2% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.8% |
| Land and buildings22 | - | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.8% |
| Financial fixed assets28 | - | - | - | - | €0.003m | - |
| Current assets29/58 | €2.3m | €1.9m | €1.8m | €1.8m | €1.7m | ▼ 8.7% |
| Amounts receivable after more than one year29 | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Trade receivables290 | - | €0.3m | - | €0.3m | €0.3m | = |
| Other amounts receivable291 | - | - | €0.3m | - | - | - |
| Stocks and contracts in progress3 | €0.8m | €1.1m | €1.3m | €1.2m | €1.2m | ▼ 2.3% |
| Stocks30/36 | - | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 8.1% |
| Contracts in progress37 | - | €0.7m | €0.8m | €0.8m | €0.8m | ▲ 0.8% |
| Amounts receivable within one year40/41 | €0.5m | €0.4m | €0.2m | €0.3m | €0.1m | ▼ 58.7% |
| Trade receivables40 | - | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 59.9% |
| Other amounts receivable41 | - | €0.2m | €0.003m | €0.02m | €0.01m | ▼ 45.2% |
| Cash at bank and in hand54/58 | €0.01m | €0.1m | - | €0.003m | €0.03m | ▲ 664% |
| Deferred charges and accrued income490/1 | - | €0.002m | €0.002m | €30 | €0.003m | ▲ 9,248% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.3m | €2.2m | €2.3m | €2.1m | ▼ 8.6% |
| Equity10/15 | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 47.2% |
| Contributions10/11 | - | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Outside capital11 | - | - | - | €0.05m | €0.05m | = |
| Other1109/19 | - | - | - | €0.05m | €0.05m | = |
| Revaluation surpluses12 | - | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Reserves13 | €0.1m | €0.06m | €0.06m | €0.07m | €0.07m | ▲ 6.5% |
| Non-distributable reserves130/1 | - | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Reserves not available under the articles1311 | - | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Distributable reserves133 | - | €0.06m | €0.06m | €0.06m | €0.07m | ▲ 7.0% |
| Profit (loss) carried forward14 | -€0.03m | - | - | - | - | - |
| Provisions and deferred taxes16 | €0.04m | - | - | - | - | - |
| Amounts payable17/49 | €2.4m | €2.1m | €2.0m | €2.0m | €2.0m | ▼ 4.3% |
| Amounts payable after more than one year17 | €1.7m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 5.0% |
| Financial debts170/4 | - | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 5.0% |
| Amounts payable within one year42/48 | €0.7m | €0.4m | €0.3m | €0.4m | €0.4m | ▼ 1.3% |
| Current portion of amounts payable after more than one year42 | - | €0.02m | €0.02m | €0.001m | €0.008m | ▲ 444% |
| Financial debts43 | - | €0.03m | €0.009m | €0 | - | - |
| Credit institutions430/8 | - | €0.03m | €0.009m | €0 | - | - |
| Trade debts44 | €0.03m | €0.002m | €0.08m | €0.09m | €0.1m | ▲ 11.9% |
| Suppliers440/4 | - | €0.002m | €0.08m | €0.09m | €0.1m | ▲ 11.9% |
| Advances received on contracts in progress46 | - | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 4.3% |
| Taxes, remuneration and social security45 | - | €0.04m | €417 | €0.01m | €0.01m | ▲ 43.9% |
| Taxes450/3 | - | €0.04m | €417 | €0.01m | €0.01m | ▲ 43.9% |
| Other amounts payable47/48 | - | €0.2m | €0.02m | €0.08m | €0.05m | ▼ 41.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,619 | -€55,953 | €2,874 | €5,004 | €4,411 | ▼ 11.9% |
| + Depreciation and write-downs630 | €11,350 | - | - | - | - | - |
| Operating cash flow (approximation) | €64,970 | -€55,953 | €2,874 | €5,004 | €4,411 | ▼ 11.9% |
| Investment in fixed assets (approximation) | - | -€1,135 | €0 | -€25,034 | €34,091 | ▲ 236% |
| Change in cash | - | €104,097 | - | - | €23,206 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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BE 0448.860.669
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Sint-Jans-Molenbeek · Eq €118,089
IMMO 5 INVEST
BE 0641.653.218
Gerpinnes · Eq €118,109
DELACO
BE 0735.517.544
Arlon · Eq €117,841
Tobcoo
BE 0542.572.567
Herent · Eq €118,199
Of 9,695 companies in this sector we hold annual accounts for 7,393. 5,357 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
Parent FM IMMO · 81.62%2 holdings
Directors
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Structure & network
Owners and holdings
2 owners · 2 holdingsChain of control
- FM-CONSTRUCTION
- FM IMMO
- IMMO J.M.
Highest known parent: FM-CONSTRUCTION. The sources do not say who stands above it.
Owners 2
- FM IMMOparent81.62%
-
15.68%
Holdings 2
- Sourceown accounts 202450%
-
50%
According to the 2024 annual accounts of IMMO J.M. and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No directors read yet: 0 of 3 Gazette acts processed.
Timeline
14 eventsLatest 25-11-2025
History
Acts, filings and financial milestones
2025
25-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 117 days late
13-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 470 days late
2024
05-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 371 days late
2022
31-12
Financial
Back to profitnet €2,874
Net result €2,874 after one loss-making year.
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 153 days late
2021
31-12
Financial
Weakest financial yearnet -€55,953
Net result drops to -€55,953, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €53,619
Net result €53,619 after 2 loss-making years.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
31-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 244 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 3.39
Current ratio from 1.38 to 3.39; short-term debt falls from €1.7m to €684,584.
2018
27-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 149 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 29-11-1990Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded29-11-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441915172
Also
9925:BE0441915172
Registered
02-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Heist-op-den-Berg · 1 establishment unit since 1990
Ground area
1,099 m²
Building footprint
177 m²
Parcel 12014K1103/00A000, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
IMMO J.M.
since 1990unit no. 2.050.497.351
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12014K1103/00A000 | Flanders | 1,099 m² | 1 · 177 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.
Go further with this company
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