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IMMO MADEBLAS

Active
Private limited companyfounded 20215 yrs activeMieregemstraat 30-32, 1785 Merchtem, BelgiumKBO/BCE: BE 0761.429.412
Summary

The annual accounts of IMMO MADEBLAS for fiscal year 2025 show a net loss of 81% of the equity at the start of that year. The 2025 annual accounts show equity of €16,654 and a net result of -€69,263. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 14284 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability3▼-78
Solvency28▼-22
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.81 against 1.54 in 2024; short-term debt: 53.8% and cash: 8.1% of total assets), but 97% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 5 years 0 10 y
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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
3%
Return on assets
-12.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 14284 sector peers (2025).
NBB · sector comparison
Position among 14284 sector peers
Solvency
better than 25%
← weakest strongest →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
on the day
2024
61 d late
2023
2 d early
2022
31 d late
2021
142 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 46 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 31 August (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 11 January 2021, IMMO MADEBLAS was incorporated as a Private limited company.1 Total assets went from EUR 349,245 in 2021 to EUR 553,447 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2021 and 2025

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Financials · fiscal year 2025, micro schema

Equity
€16,654▼ 80.6%
2024 · €85,918
Total assets
€553,447▲ 64.0%
2024 · €337,441
Net result
-€69,263
2024 · €59,619
Working capital
€241,151▲ 120%
2024 · €109,691
Trend over the years

Click a name to add, emphasise or remove a line.Band: 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.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result-€5,749-€51,605€123,822▲ 140%€76,898▼ 37.9%-€56,030
Net result-€8,794within the sector's middle half-€21,684within the sector's middle half€67,409above the sector's middle half▲ 211%€59,619above the sector's middle half▼ 11.6%-€69,263below the sector's middle half
Equity-€4,294below the sector's middle half-€17,389within the sector's middle half€84,798within the sector's middle half▲ 388%€85,918within the sector's middle half▲ 1.3%€16,654within the sector's middle half▼ 80.6%
Total assets€349,245below the sector's middle half-€588,949within the sector's middle half▲ 68.6%€646,661within the sector's middle half▲ 9.8%€337,441within the sector's middle half▼ 47.8%€553,447within the sector's middle half▲ 64.0%
Debt€353,540-€571,559▲ 61.7%€561,862▼ 1.7%€251,523▼ 55.2%€536,792▲ 113%
Working capital€349,206within the sector's middle half-€469,086above the sector's middle half▲ 34.3%€612,848above the sector's middle half▲ 30.6%€109,691within the sector's middle half▼ 82.1%€241,151above the sector's middle half▲ 120%
Solvency-1.2%below the sector's middle half-3.0%below the sector's middle half▲ 4.2pp13.1%within the sector's middle half▲ 10.2pp25.5%within the sector's middle half▲ 12.3pp3.0%below the sector's middle half▼ 22.5pp
Current ratio4.91above the sector's middle half31.02above the sector's middle half▲ 26.101.54within the sector's middle half▼ 29.471.81within the sector's middle half▲ 0.27
Return on assets (ROA)-2.5%below the sector's middle half-3.7%within the sector's middle half▲ 6.2pp10.4%above the sector's middle half▲ 6.7pp17.7%above the sector's middle half▲ 7.2pp-12.5%below the sector's middle half▼ 30.2pp
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 or micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€100,000-€50,000€0€50,000€100,000Operating result 2021: -€5,749-€5,749Net result 2021: -€8,794-€8,794Operating result 2022: €51,605€51,605Net result 2022: €21,684€21,684Operating result 2023: €123,822€123,822Net result 2023: €67,409€67,409Operating result 2024: €76,898€76,898Net result 2024: €59,619€59,619Operating result 2025: -€56,030-€56,030Net result 2025: -€69,263-€69,26320212022202320242025-€100,000-€50,000€0€50,000€100,000Operating result 2023: €123,822€124,000Net result 2023: €67,409€67,400Operating result 2024: €76,898€76,900Net result 2024: €59,619€59,600Operating result 2025: -€56,030-€56,000Net result 2025: -€69,263-€69,300202320242025
The operating result turns negative in 2025: a loss of €56,030 after €76,898 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €553,447
Fixed assets €14,704 ▼ 43.9%
Current assets €538,743 ▲ 73.1%
Equity and liabilities €553,447
Equity €16,654 ▼ 80.6%
Debt €536,792 ▲ 113%
Debt's share of the balance-sheet total rises from 74.5% to 97.0%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€44,508▼
2024 · €84,067
Cash flow
-€57,741▼
2024 · €66,789
Quick ratio
0.23▼
2024 · 0.36
Debt to equity
32.23▲
2024 · 2.93
ROE
-415.9%▼
2024 · 69.4%
Interest coverage
-3.36▼
2024 · 4.85
Debt ≤ 1 year
€297,592▲
2024 · €201,523
Debt > 1 year
€239,200▲
2024 · €50,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 450 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 87% are still going.

  • Small
  • solvency under 10%
  • a loss of 10% of the balance sheet or more
  • without age
6.4% went bankrupt
5.3% stopped otherwise
87% still going

A further 1.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a lower bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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% 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 450 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 · 42 lines
Balance sheet Code20242025
Assets
Total assets20/58€337,441€553,447▲
Fixed assets21/28€26,226€14,704▼
Tangible fixed assets22/27€26,226€14,704▼
Plant, machinery and equipment23€17,687€11,020▼
Furniture and vehicles24€8,539€3,684▼
Current assets29/58€311,215€538,743▲
Stocks and contracts in progress3€238,653€470,357▲
Stocks30/36€238,653€470,357▲
Amounts receivable within one year40/41€56,901€23,550▼
Trade receivables40€1,475-
Other amounts receivable41€55,426€23,550▼
Cash at bank and in hand54/58€14,888€44,665▲
Deferred charges and accrued income490/1€773€171▼
Equity and liabilities
Total equity and liabilities10/49€337,441€553,447▲
Equity10/15€85,918€16,654▼
Contributions10/11€4,500€4,500=
Profit (loss) carried forward14€81,418€12,154▼
Amounts payable17/49€251,523€536,792▲
Amounts payable after more than one year17€50,000€239,200▲
Financial debts170/4€50,000€239,200▲
Amounts payable within one year42/48€201,523€297,592▲
Trade debts44€22,800€127,182▲
Suppliers440/4€22,800€127,182▲
Taxes, remuneration and social security45€17,534€441▼
Taxes450/3€17,534€441▼
Other amounts payable47/48€161,189€169,970▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,169€11,523▲
Other operating charges640/8€97€35,243▲
Gross operating margin9900€84,164-€9,264▼
Operating profit (loss)9901€76,898-€56,030▼
Financial income75/76B€477-
Recurring financial income75€477-
Financial charges65/66B€17,336€13,233▼
Recurring financial charges65€17,336€13,233▼
Profit (loss) for the period before taxes9903€60,039-€69,263▼
Income taxes67/77€419-
Profit (loss) for the period9904€59,619-€69,263▼
Profit (loss) for the period to be appropriated9905€59,619-€69,263▼
Appropriation of the result
Profit (loss) to be appropriated9906€139,918€12,154▼
Profit (loss) brought forward from the previous period14P€80,298€81,418▲
Profit to be distributed694/7€58,500-
Directors or managers695€58,500-

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630--€1,172€7,169€11,523▲ 60.7%
Other operating charges640/8€2,960€1,868€748€97€35,243▲ 36,305%
Gross operating margin9900-€2,789€53,473€125,742€84,164-€9,264▼ 111%
Operating profit (loss)9901-€5,749€51,605€123,822€76,898-€56,030▼ 173%
Financial income75/76B-€0€33€477--
Recurring financial income75-€0€33€477--
Financial charges65/66B€3,046€26,673€39,595€17,336€13,233▼ 23.7%
Recurring financial charges65€3,046€26,673€39,595€17,336€13,233▼ 23.7%
Profit (loss) for the period before taxes9903-€8,794€24,931€84,261€60,039-€69,263▼ 215%
Income taxes67/77-€3,247€16,852€419--
Profit (loss) for the period9904-€8,794€21,684€67,409€59,619-€69,263▼ 216%
Profit (loss) for the period to be appropriated9905-€8,794€21,684€67,409€59,619-€69,263▼ 216%
Line20212022202320242025Change
Assets
Total assets20/58€349,245€588,949€646,661€337,441€553,447▲ 64.0%
Fixed assets21/28--€13,395€26,226€14,704▼ 43.9%
Tangible fixed assets22/27--€13,395€26,226€14,704▼ 43.9%
Plant, machinery and equipment23---€17,687€11,020▼ 37.7%
Furniture and vehicles24--€13,395€8,539€3,684▼ 56.9%
Current assets29/58€349,245€588,949€633,265€311,215€538,743▲ 73.1%
Stocks and contracts in progress3€323,516€533,685€457,396€238,653€470,357▲ 97.1%
Stocks30/36€323,516€533,685€457,396€238,653€470,357▲ 97.1%
Amounts receivable within one year40/41€1,342€28,289€10,981€56,901€23,550▼ 58.6%
Trade receivables40-€24,900€0€1,475--
Other amounts receivable41€1,342€3,389€10,981€55,426€23,550▼ 57.5%
Current investments50/53--€125,000---
Cash at bank and in hand54/58€24,387€26,974€39,888€14,888€44,665▲ 200%
Deferred charges and accrued income490/1---€773€171▼ 77.9%
Equity and liabilities
Total equity and liabilities10/49€349,245€588,949€646,661€337,441€553,447▲ 64.0%
Equity10/15-€4,294€17,389€84,798€85,918€16,654▼ 80.6%
Contributions10/11€4,500€4,500€4,500€4,500€4,500=
Profit (loss) carried forward14-€8,794€12,889€80,298€81,418€12,154▼ 85.1%
Amounts payable17/49€353,540€571,559€561,862€251,523€536,792▲ 113%
Amounts payable after more than one year17€353,500€451,696€541,445€50,000€239,200▲ 378%
Financial debts170/4€353,500€451,696€541,445€50,000€239,200▲ 378%
Amounts payable within one year42/48€40€119,863€20,417€201,523€297,592▲ 47.7%
Financial debts43-€115,000€0---
Credit institutions430/8-€115,000€0---
Trade debts44-€1,030€318€22,800€127,182▲ 458%
Suppliers440/4-€1,030€318€22,800€127,182▲ 458%
Taxes, remuneration and social security45€40€3,833€20,100€17,534€441▼ 97.5%
Taxes450/3€40€3,833€20,100€17,534€441▼ 97.5%
Other amounts payable47/48---€161,189€169,970▲ 5.4%
Line20212022202320242025Change
Profit (loss) for the period9904-€8,794€21,684€67,409€59,619-€69,263▼ 216%
+ Depreciation and write-downs630--€1,172€7,169€11,523▲ 60.7%
Operating cash flow (approximation)-€8,794€21,684€68,581€66,789-€57,741▼ 186%
Investment in fixed assets (approximation)----€20,000€0▲ 100%
Change in cash-€2,587€12,914-€25,001€29,777▲ 219%

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

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-07
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial Weakest financial yearnet -€69,263
Net result drops to -€69,263, the lowest in the series.
30-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
29-07
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial Highest result since 2021net €67,409 ▲211%
Operating result €123,822, net result €67,409, both a record.
31-12
Financial Liquidity times 6current ratio 31.02
Current ratio from 4.91 to 31.02; short-term debt falls from €119,863 to €20,417.
31-08
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial Back to profitnet €21,684
Net result €21,684 after one loss-making year.
20-12
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 142 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts

We know of 4 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
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Merchtem · 1 establishment unit since 2021
seat establishment The establishment unit on the map
Ground area
706 m²
Building footprint
342 m²
Volume, LiDAR
3,669 m³
Parcel 23602K0127/00P007, Flanders · tallest building 17.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
IMMO MADEBLAS
Mieregemstraat 30-32, 1785 MerchtemReal estate development
since 20212.314.557.085
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
23602K0127/00P007 Flanders 706 m² 1 · 341 m² 17.1 m · 4 fl.
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

Owners and holdings

1 owner

Chain of control

  1. IMH Invest Group 100%
  2. IMMO MADEBLAS

Highest known parent: IMH Invest Group. The sources do not say who stands above it.

Owners 1

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.

Similar companies · same sector, comparable size

Of 9,696 companies in sector 68121 we hold annual accounts for 7,393. 3,809 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
Founded11-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
70100Activities of head offices
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0761429412
Also 9925:BE0761429412
Registered 30-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.