Summary
IMMO MOERMAN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €383,901 and a net result of -€2,750. Equity is growing by about 3.6% per year across the filed financial years. Its solvency ranks better than 66% of 9,728 sector peers (NACE 64, financial year 2025). The company has been active since 1986 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€383,901▼ 0.7%
2024 · €386,650
Net result
-€2,750
2024 · €7,719
Total assets
€554,095▲ 22.3%
2024 · €452,941
Solvency
69.3%▼ 16.1pp
2024 · 85.4%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €1,427 after €13,747 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€1,427
2025
Net result-€2,750
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€554,095
2025
Equity€383,901
2025
Debt€126,587
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€9,285
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-0.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency69.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.27
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€18,304--€2,833▲ 84.5%-€5,628▼ 98.7%€7,719€18,160▲ 135%€22,068▲ 21.5%€13,747▼ 37.7%-€1,427
Net result-€3,943--€1,978▲ 49.8%€25,383within the sector's middle half€8,004within the sector's middle half▼ 68.5%€16,834within the sector's middle half▲ 110%€17,032within the sector's middle half▲ 1.2%€7,719within the sector's middle half▼ 54.7%-€2,750below the sector's middle half
Equity€313,656-€311,678▼ 0.6%€337,061within the sector's middle half▲ 8.1%€345,065within the sector's middle half▲ 2.4%€361,899within the sector's middle half▲ 4.9%€378,931within the sector's middle half▲ 4.7%€386,650within the sector's middle half▲ 2.0%€383,901above the sector's middle half▼ 0.7%
Total assets€406,466-€406,769▲ 0.1%€428,727within the sector's middle half▲ 5.4%€434,365within the sector's middle half▲ 1.3%€466,930within the sector's middle half▲ 7.5%€480,371within the sector's middle half▲ 2.9%€452,941within the sector's middle half▼ 5.7%€554,095within the sector's middle half▲ 22.3%
Debt€3,325-€6,486▲ 95.1%€34,113▲ 426%€34,488▲ 1.1%€53,019▲ 53.7%€52,229▼ 1.5%€19,881▼ 61.9%€126,587▲ 537%
Working capital€316,110-€297,349▼ 5.9%€61,265within the sector's middle half▼ 79.4%-€11,699within the sector's middle half€12,547within the sector's middle half€2,802within the sector's middle half▼ 77.7%€22,837within the sector's middle half▲ 715%€9,285within the sector's middle half▼ 59.3%
Solvency77.2%-76.6%▼ 0.5pp78.6%above the sector's middle half▲ 2.0pp79.4%above the sector's middle half▲ 0.8pp77.5%above the sector's middle half▼ 1.9pp78.9%above the sector's middle half▲ 1.4pp85.4%above the sector's middle half▲ 6.5pp69.3%within the sector's middle half▼ 16.1pp
Current ratio51.432.85within the sector's middle half▼ 48.580.65below the sector's middle half▼ 2.201.28within the sector's middle half▲ 0.641.06within the sector's middle half▼ 0.232.16within the sector's middle half▲ 1.101.27within the sector's middle half▼ 0.89
Return on assets (ROA)-1.0%--0.5%▲ 0.5pp5.9%within the sector's middle half▲ 6.4pp1.8%within the sector's middle half▼ 4.1pp3.6%within the sector's middle half▲ 1.8pp3.5%within the sector's middle half▼ 0.1pp1.7%within the sector's middle half▼ 1.8pp-0.5%below the sector's middle half▼ 2.2pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €554,095
Fixed assets
€510,451 ▲ 24.4%
Current assets
€43,645 ▲ 2.4%
Equity and liabilities €554,095
Equity
€383,901 ▼ 0.7%
Provisions
€43,608 ▼ 6.0%
Debt
€126,587 ▲ 537%
Debt's share of the balance-sheet total rises from 4.4% to 22.8%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-0.7%▼
2024 · 2.0%
Debt ≤ 1 year
€34,360▲
2024 · €19,764
Debt > 1 year
€88,182
Income taxes
€3,945▼
2024 · €8,708
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
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 | €15,884 | €12,676 | €14,168 | €25,886 | €27,659 | €28,875 | €31,920 | €34,563 | ▲ 8.3% |
| Other operating charges640/8 | - | - | - | €5,630 | €8,674 | €10,806 | €11,290 | €11,556 | ▲ 2.4% |
| Gross operating margin9900 | €3,205 | €15,075 | €14,166 | €39,236 | €54,493 | €61,749 | €56,957 | €44,692 | ▼ 21.5% |
| Operating profit (loss)9901 | -€18,304 | -€2,833 | -€5,628 | €7,719 | €18,160 | €22,068 | €13,747 | -€1,427 | - |
| Financial income75/76B | - | - | - | €11 | €2 | €6 | €9 | - | - |
| Recurring financial income75 | €6 | €5 | €1 | €11 | €2 | €6 | €9 | - | - |
| Financial charges65/66B | - | - | - | €570 | €1,325 | €1,781 | €130 | €178 | ▲ 37.0% |
| Recurring financial charges65 | €28 | €31 | €43 | €570 | €1,325 | €1,781 | €130 | €178 | ▲ 37.0% |
| Profit (loss) for the period before taxes9903 | -€18,327 | -€2,859 | -€5,670 | €7,160 | €16,837 | €20,293 | €13,626 | -€1,606 | - |
| Transfer from deferred taxes780 | - | - | - | €2,739 | €2,801 | €2,801 | €2,801 | €2,801 | = |
| Income taxes67/77 | - | - | - | €1,896 | €2,804 | €6,062 | €8,708 | €3,945 | ▼ 54.7% |
| Profit (loss) for the period9904 | -€3,943 | -€1,978 | €25,383 | €8,004 | €16,834 | €17,032 | €7,719 | -€2,750 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €10,957 | €11,206 | €11,206 | €11,206 | €11,206 | = |
| Profit (loss) for the period to be appropriated9905 | -€15,348 | €120 | €6,110 | €18,961 | €28,040 | €28,238 | €18,925 | €8,456 | ▼ 55.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €406,466 | €406,769 | €428,727 | €434,365 | €466,930 | €480,371 | €452,941 | €554,095 | ▲ 22.3% |
| Fixed assets21/28 | €88,418 | €103,524 | €334,344 | €412,834 | €410,301 | €427,139 | €410,339 | €510,451 | ▲ 24.4% |
| Tangible fixed assets22/27 | €88,418 | €103,524 | €334,344 | €412,834 | €410,301 | €427,139 | €410,339 | €510,451 | ▲ 24.4% |
| Land and buildings22 | - | - | - | €412,834 | €389,132 | €411,175 | €399,580 | €504,732 | ▲ 26.3% |
| Furniture and vehicles24 | - | - | - | - | €21,169 | €15,964 | €10,759 | €5,718 | ▼ 46.9% |
| Current assets29/58 | €318,049 | €303,245 | €94,383 | €21,531 | €56,629 | €53,231 | €42,602 | €43,645 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €3,976 | €6,925 | €4,939 | €522 | €3,354 | €6,590 | €2,388 | €6,270 | ▲ 163% |
| Trade receivables40 | - | - | - | - | €1,389 | €6,030 | €1,450 | €2,948 | ▲ 103% |
| Other amounts receivable41 | - | - | - | €522 | €1,964 | €560 | €938 | €3,321 | ▲ 254% |
| Cash at bank and in hand54/58 | €313,573 | €294,066 | €87,605 | €19,219 | €51,553 | €44,582 | €39,573 | €35,622 | ▼ 10.0% |
| Deferred charges and accrued income490/1 | - | - | - | €1,790 | €1,722 | €2,059 | €640 | €1,753 | ▲ 174% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €406,466 | €406,769 | €428,727 | €434,365 | €466,930 | €480,371 | €452,941 | €554,095 | ▲ 22.3% |
| Equity10/15 | €313,656 | €311,678 | €337,061 | €345,065 | €361,899 | €378,931 | €386,650 | €383,901 | ▼ 0.7% |
| Contributions10/11 | €100,000 | €100,000 | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €217,899 | €215,802 | €235,074 | €243,078 | €259,912 | €276,944 | €283,738 | €280,983 | ▼ 1.0% |
| Tax-exempt reserves132 | - | - | - | €219,253 | €208,047 | €196,841 | €185,636 | €174,430 | ▼ 6.0% |
| Distributable reserves133 | - | - | - | €23,825 | €51,865 | €80,103 | €98,103 | €106,553 | ▲ 8.6% |
| Profit (loss) carried forward14 | -€4,243 | -€4,123 | €1,987 | €1,987 | €1,987 | €1,987 | €2,912 | €2,918 | ▲ 0.2% |
| Provisions and deferred taxes16 | €89,486 | €88,605 | €57,553 | €54,813 | €52,012 | €49,210 | €46,409 | €43,608 | ▼ 6.0% |
| Deferred taxes168 | - | - | - | €54,813 | €52,012 | €49,210 | €46,409 | €43,608 | ▼ 6.0% |
| Amounts payable17/49 | €3,325 | €6,486 | €34,113 | €34,488 | €53,019 | €52,229 | €19,881 | €126,587 | ▲ 537% |
| Amounts payable after more than one year17 | - | - | - | - | €8,938 | €1,800 | - | €88,182 | - |
| Financial debts170/4 | - | - | - | - | €8,938 | €1,800 | - | €88,182 | - |
| Amounts payable within one year42/48 | €1,939 | €5,896 | €33,118 | €33,231 | €44,081 | €50,430 | €19,764 | €34,360 | ▲ 73.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7,042 | €7,138 | €1,800 | €21,818 | ▲ 12× |
| Trade debts44 | €752 | €4,180 | €32,066 | €1,426 | €1,942 | €9,215 | €1,309 | €4,196 | ▲ 220% |
| Suppliers440/4 | - | - | - | €1,426 | €1,942 | €9,215 | €1,309 | €4,196 | ▲ 220% |
| Taxes, remuneration and social security45 | - | - | - | €3,070 | €5,581 | €2,961 | €1,770 | €3,033 | ▲ 71.3% |
| Taxes450/3 | - | - | - | €3,070 | €5,581 | €2,961 | €1,770 | €3,033 | ▲ 71.3% |
| Other amounts payable47/48 | - | - | - | €28,735 | €29,517 | €31,115 | €14,885 | €5,314 | ▼ 64.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,257 | €0 | - | €117 | €4,045 | ▲ 35× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,943 | -€1,978 | €25,383 | €8,004 | €16,834 | €17,032 | €7,719 | -€2,750 | - |
| + Depreciation and write-downs630 | €15,884 | €12,676 | €14,168 | €25,886 | €27,659 | €28,875 | €31,920 | €34,563 | ▲ 8.3% |
| Operating cash flow (approximation) | €11,942 | €10,699 | €39,550 | €33,890 | €44,494 | €45,907 | €39,639 | €31,813 | ▼ 19.7% |
| Investment in fixed assets (approximation) | - | -€27,783 | -€244,988 | -€104,376 | -€25,126 | -€45,713 | -€15,120 | -€134,674 | ▼ 791% |
| Change in cash | - | -€19,507 | -€206,461 | -€68,386 | €32,334 | -€6,971 | -€5,009 | -€3,951 | ▲ 21.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 40 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 03-07-2026 | 2026-00248328 |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00220383 |
| 31-12-2023 | micro format | 23-07-2024 | 2024-00298054 |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00198571 |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20125740 |
| 31-12-2020 | micro format | 28-06-2021 | 2021-26200381 |
| 31-12-2019 | micro format | 14-08-2020 | 2020-41500299 |
| 31-12-2018 | micro format | 24-07-2019 | 2019-38100496 |
| 31-12-2017 | micro format | 09-07-2018 | 2018-31100488 |
| 31-12-2016 | micro format | 19-07-2017 | 2017-34300600 |
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Of the 24,459 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,049. 13,895 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.