IMMO R
ActiveSummary
IMMO R has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,891 and a net result of -€2,148. Equity is growing by ~22.4% per year across the filed fiscal years. Its solvency ranks better than 71% of 11547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-11
Solvency92▼-8
Growth38▼-47
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.74 against 11.89 in 2024; short-term debt: 32.6% and cash: 3.8% of total assets), and 32.6% 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 · 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more 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 2025Solvency, return and age of the figures
Solvency
67.4%
Return on assets
-2.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-12-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
1 d early
2023
92 d early
2022
6 d early
2021
34 d early
2020
67 d early
2019
77 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 47 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 28 December (4 of the last 5 filed years within 33 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€10,900▼ 41.7%
2021 · €18,702
EBIT margin
60.0%▲ 3.3pp
2021 · 56.8%
Net result
-€2,148
2024 · €11,066
Working capital
-€8,223
2024 · €21,683
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Turnover€18,702▲ 20.0%€10,900
Operating result€10,619▲ 87.0%€10,579▼ 0.4%€10,087▼ 4.6%€11,066▲ 9.7%€6,545▼ 40.9%
Net result€7,613within the sector's middle half▲ 38.4%€8,501within the sector's middle half▲ 11.7%€10,085within the sector's middle half▲ 18.6%€11,066within the sector's middle half▲ 9.7%-€2,148within the sector's middle half
EBIT margin56.8%▲ 20.4pp60.0%
Equity€37,387within the sector's middle half▲ 25.6%€45,888within the sector's middle half▲ 22.7%€55,973within the sector's middle half▲ 22.0%€67,039within the sector's middle half▲ 19.8%€64,891within the sector's middle half▼ 3.2%
Total assets€65,134below the sector's middle half▲ 11.4%€65,941below the sector's middle half▲ 1.2%€72,531within the sector's middle half▲ 10.0%€69,696within the sector's middle half▼ 3.9%€96,239within the sector's middle half▲ 38.1%
Debt€27,747▼ 3.3%€20,053▼ 27.7%€16,558▼ 17.4%€2,657▼ 84.0%€31,347▲ 1,080%
Working capital-€7,984below the sector's middle half▲ 48.6%€532within the sector's middle half€10,617within the sector's middle half▲ 1,896%€21,683within the sector's middle half▲ 104%-€8,223below the sector's middle half
Solvency57.4%within the sector's middle half▲ 6.5pp69.6%above the sector's middle half▲ 12.2pp77.2%above the sector's middle half▲ 7.6pp96.2%above the sector's middle half▲ 19.0pp67.4%within the sector's middle half▼ 28.8pp
Current ratio0.71below the sector's middle half▲ 0.261.03within the sector's middle half▲ 0.321.67within the sector's middle half▲ 0.6411.89above the sector's middle half▲ 10.220.74below the sector's middle half▼ 11.15
Return on assets (ROA)11.7%within the sector's middle half▲ 2.3pp12.9%within the sector's middle half▲ 1.2pp13.9%above the sector's middle half▲ 1.0pp15.9%above the sector's middle half▲ 2.0pp-2.2%within the sector's middle half▼ 18.1pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 41% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €96,239
Fixed assets
€73,115 ▲ 58.9%
Current assets
€23,124 ▼ 2.3%
Equity and liabilities €96,239
Equity
€64,891 ▼ 3.2%
Debt
€31,347 ▲ 1,080%
Debt's share of the balance-sheet total rises from 3.8% to 32.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€9,745
Cash flow
€1,053
Debt to equity
0.48▲
2024 · 0.04
ROE
-3.3%▼
2024 · 16.5%
Debt ≤ 1 year
€31,347▲
2024 · €1,992
Income taxes
€8,693
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,340 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 12,321 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €18,702 | - | - | - | €10,900 | - |
| Goods, raw materials, services and sundry goods60/61 | €6,975 | - | - | - | €8,846 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €3,201 | - |
| Other operating charges640/8 | €1,108 | €297 | €1,165 | €1,319 | €1,664 | ▲ 26.1% |
| Non-recurring operating charges66A | - | €1,243 | - | - | - | - |
| Gross operating margin9900 | €11,727 | €12,119 | €11,252 | €12,385 | €11,409 | ▼ 7.9% |
| Operating profit (loss)9901 | €10,619 | €10,579 | €10,087 | €11,066 | €6,545 | ▼ 40.9% |
| Financial income75/76B | €541 | €230 | - | - | - | - |
| Recurring financial income75 | €541 | €230 | - | - | - | - |
| Financial charges65/66B | €1,323 | - | €2 | - | - | - |
| Recurring financial charges65 | €1,323 | - | €2 | - | - | - |
| Profit (loss) for the period before taxes9903 | €9,837 | €10,809 | €10,085 | €11,066 | €6,545 | ▼ 40.9% |
| Income taxes67/77 | €2,224 | €2,308 | - | - | €8,693 | - |
| Profit (loss) for the period9904 | €7,613 | €8,501 | €10,085 | €11,066 | -€2,148 | ▼ 119% |
| Profit (loss) for the period to be appropriated9905 | €7,613 | €8,501 | €10,085 | €11,066 | -€2,148 | ▼ 119% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,134 | €65,941 | €72,531 | €69,696 | €96,239 | ▲ 38.1% |
| Fixed assets21/28 | €46,021 | €46,021 | €46,021 | €46,021 | €73,115 | ▲ 58.9% |
| Tangible fixed assets22/27 | €46,021 | €46,021 | €46,021 | €46,021 | €73,115 | ▲ 58.9% |
| Land and buildings22 | €43,332 | €43,332 | €43,332 | €43,332 | €47,867 | ▲ 10.5% |
| Plant, machinery and equipment23 | €2,689 | €2,689 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €22,559 | - |
| Other tangible fixed assets26 | - | - | €2,689 | €2,689 | €2,689 | = |
| Current assets29/58 | €19,113 | €19,920 | €26,510 | €23,675 | €23,124 | ▼ 2.3% |
| Amounts receivable within one year40/41 | €8,754 | - | - | €2,297 | - | - |
| Trade receivables40 | €4,204 | - | - | €2,050 | - | - |
| Other amounts receivable41 | €4,550 | - | - | €247 | - | - |
| Current investments50/53 | €9,000 | €17,000 | €19,500 | €19,500 | €19,500 | = |
| Cash at bank and in hand54/58 | €1,303 | €2,920 | €7,010 | €1,878 | €3,624 | ▲ 93.0% |
| Deferred charges and accrued income490/1 | €56 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,134 | €65,941 | €72,531 | €69,696 | €96,239 | ▲ 38.1% |
| Equity10/15 | €37,387 | €45,888 | €55,973 | €67,039 | €64,891 | ▼ 3.2% |
| Contributions10/11 | €43,897 | €43,897 | €43,897 | €43,897 | €43,897 | = |
| Capital10 | - | - | €43,897 | €43,897 | €43,897 | = |
| Issued capital100 | - | - | €43,897 | €43,897 | €43,897 | = |
| Reserves13 | €1,386 | €1,386 | €1,386 | €1,386 | €1,386 | = |
| Non-distributable reserves130/1 | €1,386 | €1,386 | €1,386 | €1,386 | €1,386 | = |
| Legal reserve130 | - | - | €1,386 | €1,386 | €1,386 | = |
| Reserves not available under the articles1311 | €1,386 | €1,386 | - | - | - | - |
| Profit (loss) carried forward14 | -€7,896 | €605 | €10,690 | €21,757 | €19,609 | ▼ 9.9% |
| Amounts payable17/49 | €27,747 | €20,053 | €16,558 | €2,657 | €31,347 | ▲ 1,080% |
| Amounts payable within one year42/48 | €27,097 | €19,388 | €15,893 | €1,992 | €31,347 | ▲ 1,474% |
| Trade debts44 | €89 | €74 | - | €114 | - | - |
| Suppliers440/4 | €89 | €74 | - | €114 | - | - |
| Advances received on contracts in progress46 | - | - | - | - | €750 | - |
| Taxes, remuneration and social security45 | €2,224 | €4,532 | €3,935 | €1,877 | €3,935 | ▲ 110% |
| Taxes450/3 | €2,224 | €4,532 | €3,935 | €1,877 | €3,935 | ▲ 110% |
| Other amounts payable47/48 | €24,784 | €14,782 | €11,958 | - | €26,662 | - |
| Accrued charges and deferred income492/3 | €650 | €665 | €665 | €665 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,613 | €8,501 | €10,085 | €11,066 | -€2,148 | ▼ 119% |
| + Depreciation and write-downs630 | - | - | - | - | €3,201 | - |
| Operating cash flow (approximation) | €7,613 | €8,501 | €10,085 | €11,066 | €1,053 | ▼ 90.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€30,295 | - |
| Change in cash | - | €1,617 | €4,090 | -€5,132 | €1,746 | ▲ 134% |
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
2025
09-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Weakest financial yearnet -€2,148
Net result drops to -€2,148, the lowest in the series.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Highest result since 2019net €11,066 ▲9.7%
Operating result €11,066, net result €11,066, both a record.
30-06
Financial
Liquidity times 7current ratio 11.89
Current ratio from 1.67 to 11.89; short-term debt falls from €15,893 to €1,992.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
25-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
28-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Back to profitnet €5,502
Net result €5,502 after one loss-making year.
2019
15-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
13-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
24-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Sint-Jans-Molenbeek · 1 establishment unit since 1994
Ground area
4,458 m²
Building footprint
1,179 m²
Volume, LiDAR
71,626 m³
2 parcels, Brussels · tallest building 68.9 m, ±22 floors. Linked by address, not a title deed.
136
companies at this address
See who is registered here
1 establishment unit
Negen Provincieslaan 1, 1083 Ganshoren
since 19942.064.961.041
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21392A0064/00Y000 | Brussels | 4,365 m² | 1 · 1,093 m² | 68.9 m · 22 fl. |
| 21522B0621/00K000 | Brussels | 93 m² | 1 · 86 m² | 17.3 m · 5 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.
Recognitions · licences · registrations
Legal Entity Identifier
9845008CB0ZEAB4XR446
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Of 1,307 companies in sector 46423 we hold annual accounts for 810. 538 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
Founded12-05-1993
Fiscal year end30-06
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450159776
Registered
19-01-2026
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.