Immo Lietaer
ActiveSummary
Immo Lietaer has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €328,587 and a net result of €59,462. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 80% of 4663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+76
Solvency100▲+6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.9 against 2.94 in 2024; short-term debt: 19.2% and cash: 4.6% of total assets), and 19.7% of the assets are financed with debt.
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Signals
Six 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
80.3%
Return on assets
14.5%
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
29 d late
2023
69 d late
2022
92 d late
2021
138 d late
2020
390 d late
2019
244 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 134 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 (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. Usually files around 9 October (4 of the last 5 filed years within 68 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€59,462
2024 · -€23,640
Working capital
€306,972▲ 33.5%
2024 · €229,911
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€31,569€141,828▲ 349%€73,727▼ 48.0%-€20,123€75,785
Net result€39,140within the sector's middle half€108,618within the sector's middle half▲ 178%€40,302within the sector's middle half▼ 62.9%-€23,640below the sector's middle half€59,462within the sector's middle half
Equity€218,846within the sector's middle half▲ 21.8%€252,464within the sector's middle half▲ 15.4%€292,766within the sector's middle half▲ 16.0%€269,126within the sector's middle half▼ 8.1%€328,587within the sector's middle half▲ 22.1%
Total assets€339,406below the sector's middle half▲ 5.1%€433,128below the sector's middle half▲ 27.6%€378,922below the sector's middle half▼ 12.5%€387,620below the sector's middle half▲ 2.3%€409,367below the sector's middle half▲ 5.6%
Debt€120,560▼ 15.7%€180,663▲ 49.9%€86,157▼ 52.3%€118,494▲ 37.5%€80,779▼ 31.8%
Working capital€189,626within the sector's middle half▲ 53.7%€201,515within the sector's middle half▲ 6.3%€254,621within the sector's middle half▲ 26.4%€229,911within the sector's middle half▼ 9.7%€306,972within the sector's middle half▲ 33.5%
Solvency64.5%above the sector's middle half▲ 8.8pp58.3%within the sector's middle half▼ 6.2pp77.3%above the sector's middle half▲ 19.0pp69.4%above the sector's middle half▼ 7.8pp80.3%above the sector's middle half▲ 10.8pp
Current ratio2.96above the sector's middle half▲ 1.022.13within the sector's middle half▼ 0.833.96above the sector's middle half▲ 1.832.94above the sector's middle half▼ 1.024.90above the sector's middle half▲ 1.96
Return on assets (ROA)11.5%above the sector's middle half▲ 16.8pp25.1%above the sector's middle half▲ 13.5pp10.6%above the sector's middle half▼ 14.4pp-6.1%below the sector's middle half▼ 16.7pp14.5%above the sector's middle half▲ 20.6pp
Staff (FTE)1.7within the sector's middle half=0.5within the sector's middle half▼ 70.6%0.6within the sector's middle half▲ 20.0%1within the sector's middle half▲ 66.7%1within 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.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €75,785 after a loss of €20,123 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €409,367
Fixed assets
€23,632 ▼ 39.8%
Current assets
€385,735 ▲ 10.7%
Equity and liabilities €409,367
Equity
€328,587 ▲ 22.1%
Debt
€80,779 ▼ 31.8%
Debt's share of the balance-sheet total falls from 30.6% to 19.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91,429▲
2024 · -€8,031
Cash flow
€75,106▲
2024 · -€11,549
Debt to equity
0.25▼
2024 · 0.44
ROE
18.1%▲
2024 · -8.8%
Interest coverage
26.26▲
2024 · -0.54
Debt ≤ 1 year
€78,763▼
2024 · €118,431
Income taxes
€15,022▲
2024 · -€1,668
Staff costs
€49,854▲
2024 · €38,019
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
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 0.2% 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 31,371 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €13,139 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €90,733 | €27,207 | €24,983 | €38,019 | €49,854 | ▲ 31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,409 | €15,166 | €16,255 | €12,092 | €15,644 | ▲ 29.4% |
| Other operating charges640/8 | €1,336 | €2,025 | €6,125 | €2,975 | €6,510 | ▲ 119% |
| Non-recurring operating charges66A | €0 | €12,644 | €0 | €1,339 | €0 | ▼ 100% |
| Gross operating margin9900 | €141,046 | €198,868 | €121,089 | €34,301 | €147,793 | ▲ 331% |
| Operating profit (loss)9901 | €31,569 | €141,828 | €73,727 | -€20,123 | €75,785 | ▲ 477% |
| Financial income75/76B | €25,904 | €4,849 | €6,846 | €9,687 | €2,180 | ▼ 77.5% |
| Recurring financial income75 | €25,904 | €4,849 | €6,846 | €9,687 | €2,180 | ▼ 77.5% |
| Financial charges65/66B | €4,624 | €6,041 | €2,798 | €14,872 | €3,481 | ▼ 76.6% |
| Recurring financial charges65 | €4,624 | €6,041 | €2,798 | €14,872 | €3,481 | ▼ 76.6% |
| Profit (loss) for the period before taxes9903 | €52,849 | €140,637 | €77,774 | -€25,308 | €74,484 | ▲ 394% |
| Income taxes67/77 | €13,709 | €32,018 | €37,472 | -€1,668 | €15,022 | ▲ 1,001% |
| Profit (loss) for the period9904 | €39,140 | €108,618 | €40,302 | -€23,640 | €59,462 | ▲ 352% |
| Profit (loss) for the period to be appropriated9905 | €39,140 | €108,618 | €40,302 | -€23,640 | €59,462 | ▲ 352% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €339,406 | €433,128 | €378,922 | €387,620 | €409,367 | ▲ 5.6% |
| Fixed assets21/28 | €52,864 | €53,448 | €38,207 | €39,277 | €23,632 | ▼ 39.8% |
| Tangible fixed assets22/27 | €52,864 | €53,448 | €38,207 | €39,277 | €23,632 | ▼ 39.8% |
| Plant, machinery and equipment23 | €3,173 | €4,655 | €2,952 | €656 | €0 | ▼ 100% |
| Furniture and vehicles24 | €30,752 | €35,898 | €28,404 | €33,362 | €19,966 | ▼ 40.2% |
| Leasing and similar rights25 | €8,904 | €4,452 | €0 | - | - | - |
| Other tangible fixed assets26 | €10,035 | €8,442 | €6,850 | €5,258 | €3,666 | ▼ 30.3% |
| Current assets29/58 | €286,542 | €379,680 | €340,716 | €348,343 | €385,735 | ▲ 10.7% |
| Amounts receivable after more than one year29 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Other amounts receivable291 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Amounts receivable within one year40/41 | €70,705 | €165,504 | €157,068 | €193,869 | €215,190 | ▲ 11.0% |
| Trade receivables40 | €15,620 | €25,443 | €83,327 | €56,066 | €80,611 | ▲ 43.8% |
| Other amounts receivable41 | €55,086 | €140,061 | €73,740 | €137,803 | €134,579 | ▼ 2.3% |
| Cash at bank and in hand54/58 | €63,879 | €62,565 | €33,103 | €4,474 | €18,648 | ▲ 317% |
| Deferred charges and accrued income490/1 | €1,957 | €1,611 | €545 | €0 | €1,897 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €339,406 | €433,128 | €378,922 | €387,620 | €409,367 | ▲ 5.6% |
| Equity10/15 | €218,846 | €252,464 | €292,766 | €269,126 | €328,587 | ▲ 22.1% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €157,346 | €190,964 | €231,266 | €207,626 | €267,087 | ▲ 28.6% |
| Non-distributable reserves130/1 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Distributable reserves133 | €151,196 | €184,814 | €225,116 | €201,476 | €260,937 | ▲ 29.5% |
| Profit (loss) carried forward14 | - | €0 | €0 | - | - | - |
| Amounts payable17/49 | €120,560 | €180,663 | €86,157 | €118,494 | €80,779 | ▼ 31.8% |
| Amounts payable after more than one year17 | €23,581 | €2,436 | €0 | - | - | - |
| Financial debts170/4 | €23,581 | €2,436 | €0 | - | - | - |
| Amounts payable within one year42/48 | €96,916 | €178,165 | €86,094 | €118,431 | €78,763 | ▼ 33.5% |
| Current portion of amounts payable after more than one year42 | €17,452 | €21,145 | €5,782 | €0 | - | - |
| Financial debts43 | €1,401 | €1,013 | €22,027 | €24,683 | €20,000 | ▼ 19.0% |
| Credit institutions430/8 | €1,401 | €1,013 | €22,027 | €24,683 | €20,000 | ▼ 19.0% |
| Trade debts44 | €21,947 | €33,935 | €44,784 | €81,209 | €46,440 | ▼ 42.8% |
| Suppliers440/4 | €21,947 | €33,935 | €44,784 | €81,209 | €46,440 | ▼ 42.8% |
| Advances received on contracts in progress46 | €29,427 | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €12,382 | €34,008 | €12,188 | €12,119 | €11,903 | ▼ 1.8% |
| Taxes450/3 | €1,981 | €29,129 | €11,000 | €9,327 | €1,286 | ▼ 86.2% |
| Remuneration and social security454/9 | €10,401 | €4,879 | €1,188 | €2,792 | €10,617 | ▲ 280% |
| Other amounts payable47/48 | €14,308 | €88,064 | €1,313 | €420 | €420 | = |
| Accrued charges and deferred income492/3 | €63 | €63 | €63 | €63 | €2,016 | ▲ 3,126% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,140 | €108,618 | €40,302 | -€23,640 | €59,462 | ▲ 352% |
| + Depreciation and write-downs630 | €17,409 | €15,166 | €16,255 | €12,092 | €15,644 | ▲ 29.4% |
| Operating cash flow (approximation) | €56,549 | €123,784 | €56,557 | -€11,549 | €75,106 | ▲ 750% |
| Investment in fixed assets (approximation) | - | -€15,749 | -€1,014 | -€13,161 | €0 | ▲ 100% |
| Change in cash | - | -€1,314 | -€29,462 | -€28,629 | €14,175 | ▲ 150% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €59,462
Net result €59,462 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€23,640
Net result drops to -€23,640, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 69 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 92 days late
2022
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 138 days late
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 390 days late
2021
31-12
Financial
Back to profitnet €39,140
Net result €39,140 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €218,846 ▲21.8%
Equity rises from €179,706 to €218,846.
01-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 244 days late
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 317 days late
Show earlier events
2019
31-12
Financial
Equity above €150,000Eq €196,827 ▲43.7%
2 profitable years in a row build equity to €196,827.
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
19-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 80 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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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Directors · office · real estate
Directors
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Menen · 2 establishment units since 1992
Ground area
328 m²
Building footprint
282 m²
Volume, LiDAR
2,247 m³
2 parcels, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Immo Lietaer
since 19922.056.899.054
Immo Lietaer
since 20242.365.454.074
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34027F0005/00W000 | Flanders | 171 m² | 1 · 125 m² | 12.2 m · 3 fl. |
| 34026A0353/00P000 | Flanders | 157 m² | 1 · 157 m² | 9.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- PROPERTY CUBE
- Immo Lietaer
Highest known parent: PROPERTY CUBE. The sources do not say who stands above it.
Owners 2
- PROPERTY CUBEparent99.2%
- Sourceaccounts K'IMMO 202548.8%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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 current directors or connected companies found in the register.
Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 563 EUR awarded · 458 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 203 EUR | 203 EUR |
| 2022 | 1 | 360 EUR | 255 EUR |
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Of 11,749 companies in this sector we hold annual accounts for 6,910. 4,914 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded06-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0446833765
Registered
01-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Business parks
1 parkOffers a parcel on business park:Spichtestraat
Scores and ratios are computed by Checked and are not a credit decision.