Immo - PDG
ActiveSummary
Immo - PDG has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.0m and a net result of -€33,725. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 76% of 4663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-1
Solvency98▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 4.05 in 2024; short-term debt: 11.8% and cash: 1% of total assets), and 26.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 · 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 · 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
73.1%
Return on assets
-0.3%
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
29 d early
2023
37 d early
2022
40 d early
2021
33 d early
2020
44 d early
2019
29 d early
← 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 35 days before 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 28 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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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
-€33,725▼ 153%
2024 · -€13,337
Working capital
€204,336▼ 80.0%
2024 · €1.0m
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-€77,293▼ 827%-€96,787▼ 25.2%€408,947€19,842▼ 95.1%-€4,102
Net result-€103,994below the sector's middle half-€114,577below the sector's middle half▼ 10.2%€300,210above the sector's middle half-€13,337within the sector's middle half-€33,725below the sector's middle half▼ 153%
Equity€7.3mabove the sector's middle half▼ 1.4%€7.2mabove the sector's middle half▼ 1.6%€8.0mabove the sector's middle half▲ 11.4%€8.0mabove the sector's middle half▼ 0.2%€8.0mabove the sector's middle half▼ 0.4%
Total assets€9.8mabove the sector's middle half▼ 3.5%€9.5mabove the sector's middle half▼ 2.5%€10.1mabove the sector's middle half▲ 6.4%€10.1mabove the sector's middle half▼ 0.5%€10.9mabove the sector's middle half▲ 8.3%
Debt€2.1m▼ 10.0%€2.0m▼ 5.6%€1.7m▼ 12.9%€1.7m▼ 1.1%€2.6m▲ 52.4%
Working capital-€240,028below the sector's middle half-€403,206below the sector's middle half▼ 68.0%€982,019above the sector's middle half€1.0mabove the sector's middle half▲ 3.9%€204,336within the sector's middle half▼ 80.0%
Solvency75.0%above the sector's middle half▲ 1.6pp75.7%above the sector's middle half▲ 0.7pp79.3%above the sector's middle half▲ 3.6pp79.6%above the sector's middle half▲ 0.3pp73.1%above the sector's middle half▼ 6.4pp
Current ratio0.67within the sector's middle half▼ 0.920.46below the sector's middle half▼ 0.214.70above the sector's middle half▲ 4.234.05above the sector's middle half▼ 0.651.16within the sector's middle half▼ 2.89
Return on assets (ROA)-1.1%below the sector's middle half▼ 2.4pp-1.2%below the sector's middle half▼ 0.1pp3.0%within the sector's middle half▲ 4.2pp-0.1%within the sector's middle half▼ 3.1pp-0.3%within the sector's middle half▼ 0.2pp
Staff (FTE)0.1below 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 turns negative in 2025: a loss of €4,102 after €19,842 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.9m
Fixed assets
€9.4m ▲ 8.0%
Current assets
€1.5m ▲ 10.2%
Equity and liabilities €10.9m
Equity
€8.0m ▼ 0.4%
Provisions
€344,742 ▼ 4.8%
Debt
€2.6m ▲ 52.4%
Debt's share of the balance-sheet total rises from 16.9% to 23.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€575,793▲
2024 · €548,657
Cash flow
€546,170▲
2024 · €515,479
Quick ratio
0.41▼
2024 · 1.32
Debt to equity
0.32▲
2024 · 0.21
ROE
-0.4%▼
2024 · -0.2%
Interest coverage
32.25▼
2024 · 85.12
Debt ≤ 1 year
€1.3m▲
2024 · €334,578
Debt > 1 year
€1.3m▼
2024 · €1.3m
Income taxes
€37,334▼
2024 · €50,843
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 823 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
2.9%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 823 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 | €88,047 | €2,273 | €514,272 | €222 | €3,527 | ▲ 1,486% |
| Remuneration, social security and pensions62 | - | €2,983 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €611,897 | €560,001 | €564,220 | €528,816 | €579,895 | ▲ 9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€1,039 | - | - | - | - |
| Other operating charges640/8 | €57,800 | €68,830 | €87,908 | €87,944 | €92,330 | ▲ 5.0% |
| Non-recurring operating charges66A | - | €240 | €18,429 | €5,025 | €3,369 | ▼ 32.9% |
| Gross operating margin9900 | €592,404 | €534,229 | €1.1m | €641,626 | €671,492 | ▲ 4.7% |
| Operating profit (loss)9901 | -€77,293 | -€96,787 | €408,947 | €19,842 | -€4,102 | ▼ 121% |
| Financial income75/76B | €1,353 | €5,386 | €20,672 | €6,625 | €8,081 | ▲ 22.0% |
| Recurring financial income75 | €1,353 | €5,340 | €20,672 | €6,625 | €8,081 | ▲ 22.0% |
| Non-recurring financial income76B | - | €46 | - | - | - | - |
| Financial charges65/66B | €19,592 | €27,470 | €15,507 | €6,446 | €17,855 | ▲ 177% |
| Recurring financial charges65 | €19,502 | €18,634 | €15,507 | €6,446 | €17,855 | ▲ 177% |
| Non-recurring financial charges66B | €89 | €8,836 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€95,532 | -€118,870 | €414,112 | €20,021 | -€13,877 | ▼ 169% |
| Transfer from deferred taxes780 | €16,113 | €16,113 | €82,967 | €17,486 | €17,486 | = |
| Transfer to deferred taxes680 | - | €0 | €124,924 | - | - | - |
| Income taxes67/77 | €24,575 | €11,820 | €71,945 | €50,843 | €37,334 | ▼ 26.6% |
| Profit (loss) for the period9904 | -€103,994 | -€114,577 | €300,210 | -€13,337 | -€33,725 | ▼ 153% |
| Transfer from tax-exempt reserves789 | €48,339 | €48,340 | €248,902 | €52,457 | €52,457 | = |
| Transfer to tax-exempt reserves689 | - | €0 | €383,108 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€55,655 | -€66,237 | €166,004 | €39,120 | €18,732 | ▼ 52.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.8m | €9.5m | €10.1m | €10.1m | €10.9m | ▲ 8.3% |
| Fixed assets21/28 | €9.3m | €9.2m | €8.9m | €8.7m | €9.4m | ▲ 8.0% |
| Intangible fixed assets21 | - | €4,233 | €3,193 | €2,154 | €1,114 | ▼ 48.3% |
| Tangible fixed assets22/27 | €9.3m | €9.2m | €8.9m | €8.7m | €9.4m | ▲ 8.0% |
| Land and buildings22 | €9.3m | €9.1m | €8.8m | €8.6m | €9.4m | ▲ 8.4% |
| Plant, machinery and equipment23 | €3,626 | €7,902 | €22,590 | €20,184 | €16,668 | ▼ 17.4% |
| Furniture and vehicles24 | - | €1,000 | €106,521 | €90,150 | €75,044 | ▼ 16.8% |
| Assets under construction and advance payments27 | - | €51,000 | - | - | - | - |
| Financial fixed assets28 | €1,340 | €620 | €669 | €669 | €669 | = |
| Current assets29/58 | €485,804 | €348,909 | €1.2m | €1.4m | €1.5m | ▲ 10.2% |
| Stocks and contracts in progress3 | €177,916 | €121,950 | €716,715 | €914,821 | €962,772 | ▲ 5.2% |
| Stocks30/36 | €177,916 | €121,950 | €716,715 | €914,821 | €962,772 | ▲ 5.2% |
| Amounts receivable within one year40/41 | €77,757 | €71,587 | €236,392 | €263,323 | €351,826 | ▲ 33.6% |
| Trade receivables40 | €48,446 | €20,233 | €16,291 | €31,821 | €13,542 | ▼ 57.4% |
| Other amounts receivable41 | €29,312 | €51,354 | €220,101 | €231,502 | €338,284 | ▲ 46.1% |
| Cash at bank and in hand54/58 | €224,818 | €147,556 | €281,079 | €159,133 | €111,712 | ▼ 29.8% |
| Deferred charges and accrued income490/1 | €5,312 | €7,816 | €13,471 | €18,103 | €67,054 | ▲ 270% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.8m | €9.5m | €10.1m | €10.1m | €10.9m | ▲ 8.3% |
| Equity10/15 | €7.3m | €7.2m | €8.0m | €8.0m | €8.0m | ▼ 0.4% |
| Contributions10/11 | €6.3m | €6.3m | €6.8m | €6.8m | €6.8m | = |
| Capital10 | €6.3m | €6.3m | €6.8m | €6.8m | €6.8m | = |
| Issued capital100 | €6.3m | €6.3m | €6.8m | €6.8m | €6.8m | = |
| Reserves13 | €1.1m | €1.0m | €1.2m | €1.2m | €1.2m | ▼ 2.9% |
| Non-distributable reserves130/1 | €212 | €212 | €64,320 | €103,441 | €104,377 | ▲ 0.9% |
| Legal reserve130 | €212 | €212 | €5,724 | €7,680 | €8,617 | ▲ 12.2% |
| Other1319 | - | - | €58,596 | €95,760 | €95,760 | = |
| Tax-exempt reserves132 | €1.1m | €1.0m | €1.1m | €1.1m | €1.0m | ▼ 4.8% |
| Distributable reserves133 | - | - | - | - | €16,803 | - |
| Profit (loss) carried forward14 | -€51,634 | -€117,871 | - | - | €993 | - |
| Investment grants15 | €17,768 | €16,583 | - | - | - | - |
| Provisions and deferred taxes16 | €353,871 | €337,757 | €379,714 | €362,228 | €344,742 | ▼ 4.8% |
| Deferred taxes168 | €353,871 | €337,757 | €379,714 | €362,228 | €344,742 | ▼ 4.8% |
| Amounts payable17/49 | €2.1m | €2.0m | €1.7m | €1.7m | €2.6m | ▲ 52.4% |
| Amounts payable after more than one year17 | €1.4m | €1.2m | €1.4m | €1.3m | €1.3m | ▼ 5.5% |
| Financial debts170/4 | €1.4m | €1.2m | €1.4m | €1.3m | €1.3m | ▼ 5.5% |
| Amounts payable within one year42/48 | €725,831 | €752,115 | €265,637 | €334,578 | €1.3m | ▲ 285% |
| Current portion of amounts payable after more than one year42 | €175,091 | €158,484 | €148,568 | €78,135 | €79,378 | ▲ 1.6% |
| Financial debts43 | - | €8,359 | - | - | €858,098 | - |
| Credit institutions430/8 | - | €8,359 | - | - | €858,098 | - |
| Trade debts44 | €150,892 | €284,473 | €49,721 | €62,700 | €102,527 | ▲ 63.5% |
| Suppliers440/4 | €150,892 | €284,473 | €49,721 | €62,700 | €102,527 | ▲ 63.5% |
| Advances received on contracts in progress46 | €8,178 | €1,209 | €11,997 | €159,269 | €161,255 | ▲ 1.2% |
| Taxes, remuneration and social security45 | €95,787 | €1,060 | €19,616 | €17,457 | €6,396 | ▼ 63.4% |
| Taxes450/3 | €94,887 | €1,060 | €19,616 | €17,457 | €6,396 | ▼ 63.4% |
| Remuneration and social security454/9 | €900 | - | - | - | - | - |
| Other amounts payable47/48 | €295,883 | €298,531 | €35,735 | €17,017 | €81,375 | ▲ 378% |
| Accrued charges and deferred income492/3 | €4,796 | €7,871 | €36,741 | €31,828 | €41,907 | ▲ 31.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€103,994 | -€114,577 | €300,210 | -€13,337 | -€33,725 | ▼ 153% |
| + Depreciation and write-downs630 | €611,897 | €560,001 | €564,220 | €528,816 | €579,895 | ▲ 9.7% |
| Operating cash flow (approximation) | €507,903 | €445,425 | €864,430 | €515,479 | €546,170 | ▲ 6.0% |
| Investment in fixed assets (approximation) | - | -€447,962 | -€280,201 | -€372,127 | -€1.3m | ▼ 244% |
| Change in cash | - | -€77,262 | €133,523 | -€121,946 | -€47,421 | ▲ 61.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
State Gazette act
Appointment: Arnout DE VLEESCHOUWER (director)3 facts ▸
State Gazette act
Appointment: Arnout DE VLEESCHOUWER (director)
3 facts ▸
- General meeting, 01-05-2026
- Director appointment, Arnout DE VLEESCHOUWER (director)
- Director in office, Marianne DE VLEESCHOUWER (managing director)
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €300,210
Net result €300,210 after 2 loss-making years.
31-12
Financial
Liquidity times 10current ratio 4.70
Current ratio from 0.46 to 4.70; short-term debt falls from €752,115 to €265,637.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€114,577
Net result drops to -€114,577, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity times 5current ratio 1.59
Current ratio from 0.35 to 1.59; short-term debt falls from €618,406 to €607,714.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €145,574
Net result €145,574 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Arnout DE VLEESCHOUWER
CurrentDirector · since 01-05-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
14 of this company's 15 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1979
Ground area
898 m²
Building footprint
424 m²
Volume, LiDAR
2,702 m³
Parcel 44809I0794/00B011, Flanders · tallest building 15.6 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Tennisbaanstraat 74, 9000 Gent
since 19792.039.661.857
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44809I0794/00B011 | Flanders | 897 m² | 1 · 424 m² | 15.6 m · 2 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Arnout DE VLEESCHOUWER |
|
Structure & network
Connections & network
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Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 5,541 EUR awarded · 81 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 81 EUR | 81 EUR |
| 2022 | 1 | 5,460 EUR | 0 EUR |
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Company details
Identification
Legal formPublic limited company
Founded28-09-1979
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0419862025
Registered
01-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
General meetings
1 convocationGeneral meeting
Agenda
1. Samenstelling bureau. 2. Verslagen. 3. Goedkeuring jaar- rekening per 31/12/2007. 4. Bestemming van het resultaat. 5. Verlenen van kwijtingen. 6. Ontslagen, benoemingen en bezoldigingen. 7. Rond- vraag. Het bestuur vraagt de aandeelhouders zich te gedragen conform de statuten. De stukken bedoeld in art. 533 W. Venn. zijn voor de aandeelhouders beschikbaar op de zetel van de vennootschap. Indien de algemene vergadering besluit een dividend uit te keren, zal dit betaalbaar worden gesteld bij de vestigingen van FORTIS BANK vanaf 31/07/2008. (AOPC-1-8-05518/20.05)
Scores and ratios are computed by Checked and are not a credit decision.