IMMO - MAR
ActiveSummary
IMMO - MAR has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €292,274 and a net result of -€7,784. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 54% of 9341 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+17
Solvency62=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.02 in 2024; short-term debt: 21.5% and cash: 1.7% of total assets), and 63.5% 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
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€7,784
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
31 d late
2023
2 d early
2022
on the day
2021
31 d early
2020
31 d late
2019
on the day
← 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 7 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 July (5 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€292,274▼ 2.6%
2024 · €300,057
Total assets
€799,913▼ 2.5%
2024 · €820,617
Net result
-€7,784▲ 67.7%
2024 · -€24,117
Working capital
-€152,782▲ 1.0%
2024 · -€154,283
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-€22,800▼ 111%-€9,103▲ 60.1%-€13,753▼ 51.1%-€12,029▲ 12.5%-€5,264▲ 56.2%
Net result-€19,393below the sector's middle half▼ 154%-€5,320within the sector's middle half▲ 72.6%-€17,669below the sector's middle half▼ 232%-€24,117below the sector's middle half▼ 36.5%-€7,784within the sector's middle half▲ 67.7%
Equity€347,164above the sector's middle half▼ 5.3%€341,843above the sector's middle half▼ 1.5%€324,175above the sector's middle half▼ 5.2%€300,057within the sector's middle half▼ 7.4%€292,274within the sector's middle half▼ 2.6%
Total assets€929,428within the sector's middle half▼ 4.7%€894,755within the sector's middle half▼ 3.7%€856,446within the sector's middle half▼ 4.3%€820,617within the sector's middle half▼ 4.2%€799,913within the sector's middle half▼ 2.5%
Debt€385,114▼ 3.5%€367,925▼ 4.5%€359,446▼ 2.3%€359,897▲ 0.1%€359,140▼ 0.2%
Working capital-€110,614below the sector's middle half▼ 8.9%-€117,657below the sector's middle half▼ 6.4%-€131,734below the sector's middle half▼ 12.0%-€154,283below the sector's middle half▼ 17.1%-€152,782below the sector's middle half▲ 1.0%
Solvency37.4%within the sector's middle half▼ 0.2pp38.2%within the sector's middle half▲ 0.9pp37.9%within the sector's middle half▼ 0.4pp36.6%within the sector's middle half▼ 1.3pp36.5%within the sector's middle half=
Current ratio0.05below the sector's middle half▼ 0.020.03below the sector's middle half▼ 0.020.02below the sector's middle half▼ 0.010.02below the sector's middle half=0.11below the sector's middle half▲ 0.09
Return on assets (ROA)-2.1%below the sector's middle half▼ 1.3pp-0.6%within the sector's middle half▲ 1.5pp-2.1%within the sector's middle half▼ 1.5pp-2.9%below the sector's middle half▼ 0.9pp-1.0%within the sector's middle half▲ 2.0pp
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
The operating result stays negative: a loss of €5,264 in 2025 against €12,029 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €799,913
Fixed assets
€780,944 ▼ 4.4%
Current assets
€18,969 ▲ 469%
Equity and liabilities €799,913
Equity
€292,274 ▼ 2.6%
Provisions
€148,500 ▼ 7.6%
Debt
€359,140 ▼ 0.2%
Debt's share of the balance-sheet total rises from 43.9% to 44.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€50,859▲
2024 · €41,867
Cash flow
€48,339▲
2024 · €29,778
Debt to equity
1.23▲
2024 · 1.20
ROE
-2.7%▲
2024 · -8.0%
Interest coverage
3.46▲
2024 · 1.73
Debt ≤ 1 year
€171,751▲
2024 · €157,617
Debt > 1 year
€180,208▼
2024 · €202,280
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,611 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% 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 497,338 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% | 1.9% |
| 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 8,611 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,754 | €51,071 | €52,502 | €53,896 | €56,123 | ▲ 4.1% |
| Other operating charges640/8 | €6,317 | €6,439 | €7,008 | €7,309 | €6,893 | ▼ 5.7% |
| Gross operating margin9900 | €33,271 | €48,406 | €45,757 | €49,176 | €57,753 | ▲ 17.4% |
| Operating profit (loss)9901 | -€22,800 | -€9,103 | -€13,753 | -€12,029 | -€5,264 | ▲ 56.2% |
| Financial charges65/66B | €8,756 | €8,380 | €16,078 | €24,251 | €14,683 | ▼ 39.5% |
| Recurring financial charges65 | €8,756 | €8,380 | €16,078 | €24,251 | €14,683 | ▼ 39.5% |
| Profit (loss) for the period before taxes9903 | -€31,556 | -€17,483 | -€29,831 | -€36,280 | -€19,946 | ▲ 45.0% |
| Transfer from deferred taxes780 | €12,163 | €12,163 | €12,163 | €12,163 | €12,163 | = |
| Profit (loss) for the period9904 | -€19,393 | -€5,320 | -€17,669 | -€24,117 | -€7,784 | ▲ 67.7% |
| Transfer from tax-exempt reserves789 | €23,132 | €23,132 | €23,132 | €23,132 | €23,132 | = |
| Profit (loss) for the period to be appropriated9905 | €3,739 | €17,811 | €5,463 | -€986 | €15,348 | ▲ 1,657% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €929,428 | €894,755 | €856,446 | €820,617 | €799,913 | ▼ 2.5% |
| Fixed assets21/28 | €923,290 | €890,706 | €853,504 | €817,283 | €780,944 | ▼ 4.4% |
| Tangible fixed assets22/27 | €923,213 | €890,629 | €853,427 | €817,207 | €780,867 | ▼ 4.4% |
| Land and buildings22 | €922,104 | €889,417 | €852,923 | €816,856 | €775,778 | ▼ 5.0% |
| Furniture and vehicles24 | €1,109 | €1,212 | €504 | €351 | €5,089 | ▲ 1,350% |
| Financial fixed assets28 | €77 | €77 | €77 | €77 | €77 | = |
| Current assets29/58 | €6,138 | €4,049 | €2,942 | €3,334 | €18,969 | ▲ 469% |
| Amounts receivable within one year40/41 | €1,340 | €812 | - | €292 | €5,539 | ▲ 1,797% |
| Trade receivables40 | €966 | €812 | - | - | €5,302 | - |
| Other amounts receivable41 | €375 | - | - | €292 | €236 | ▼ 19.1% |
| Cash at bank and in hand54/58 | €4,798 | €3,237 | €2,942 | €3,042 | €13,430 | ▲ 342% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €929,428 | €894,755 | €856,446 | €820,617 | €799,913 | ▼ 2.5% |
| Equity10/15 | €347,164 | €341,843 | €324,175 | €300,057 | €292,274 | ▼ 2.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €370,848 | €347,716 | €324,585 | €301,453 | €278,322 | ▼ 7.7% |
| Tax-exempt reserves132 | €370,848 | €347,716 | €324,585 | €301,453 | €278,322 | ▼ 7.7% |
| Profit (loss) carried forward14 | -€85,684 | -€67,873 | -€62,410 | -€63,396 | -€48,048 | ▲ 24.2% |
| Provisions and deferred taxes16 | €197,150 | €184,987 | €172,825 | €160,662 | €148,500 | ▼ 7.6% |
| Deferred taxes168 | €197,150 | €184,987 | €172,825 | €160,662 | €148,500 | ▼ 7.6% |
| Amounts payable17/49 | €385,114 | €367,925 | €359,446 | €359,897 | €359,140 | ▼ 0.2% |
| Amounts payable after more than one year17 | €268,362 | €246,218 | €224,770 | €202,280 | €180,208 | ▼ 10.9% |
| Financial debts170/4 | €118,862 | €96,718 | €75,270 | €52,780 | €30,708 | ▼ 41.8% |
| Other amounts payable178/9 | €149,500 | €149,500 | €149,500 | €149,500 | €149,500 | = |
| Amounts payable within one year42/48 | €116,752 | €121,706 | €134,676 | €157,617 | €171,751 | ▲ 9.0% |
| Current portion of amounts payable after more than one year42 | €21,767 | €22,144 | €21,638 | €22,490 | €22,073 | ▼ 1.9% |
| Trade debts44 | €2,811 | €1,330 | €3,677 | €1,000 | €1,000 | = |
| Suppliers440/4 | €2,811 | €1,330 | €3,677 | €1,000 | €1,000 | = |
| Taxes, remuneration and social security45 | €1,821 | €4,061 | €6,635 | €6,139 | €3,510 | ▼ 42.8% |
| Taxes450/3 | €1,821 | €4,061 | €6,635 | €6,139 | €3,510 | ▼ 42.8% |
| Other amounts payable47/48 | €90,353 | €94,171 | €102,727 | €127,988 | €145,168 | ▲ 13.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €7,181 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,393 | -€5,320 | -€17,669 | -€24,117 | -€7,784 | ▲ 67.7% |
| + Depreciation and write-downs630 | €49,754 | €51,071 | €52,502 | €53,896 | €56,123 | ▲ 4.1% |
| Operating cash flow (approximation) | €30,361 | €45,750 | €34,834 | €29,778 | €48,339 | ▲ 62.3% |
| Investment in fixed assets (approximation) | - | -€18,487 | -€15,300 | -€17,675 | -€19,784 | ▼ 11.9% |
| Change in cash | - | -€1,561 | -€295 | €100 | €10,388 | ▲ 10,320% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 17 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
08-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 69 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
NBB filing
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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Directors · office · real estate
Directors
3 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, Antwerpen · 1 establishment unit since 1989
Ground area
321 m²
Building footprint
106 m²
Volume, LiDAR
928 m³
Parcel 11303C0233/00G005, Flanders · tallest building 13.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
IMMO-MAR
since 19892.042.146.047
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11303C0233/00G005 | Flanders | 321 m² | 1 · 106 m² | 13.2 m · 3 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.
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Of 9,145 companies in sector 68201 we hold annual accounts for 6,776. 4,946 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded25-01-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
69209Other tax advisory services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436603334
Also
9925:BE0436603334
Registered
30-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.