IMMO SAPP (0447.742.102): financials and annual accounts

IMMO SAPP

Thuin ·KBO/BCE: BE 0447.742.102

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	2.8m	2.8m	2.9m	3.3m	3.2m	3.2m	2.9m	2.8m	3.4m	3.6m	3.6m	3.6m	3.0m	1.8m	1.9m	2.2m	2.1m	2.4m	2.2m	2.0m
Fixed assets`21/28`	1.6m	1.7m	1.7m	3.0m	3.2m	3.0m	2.7m	2.4m	3.0m	3.0m	2.9m	3.4m	2.6m	1.4m	1.2m	2.0m	2.0m	2.0m	2.2m	1.7m
Tangible fixed assets`22/27`	750,722	773,650	792,526	3.0m	2.7m	2.5m	2.2m	1.9m	2.4m	2.5m	2.4m	2.9m	2.1m	931,291	744,324	1.5m	1.5m	1.5m	1.7m	1.2m
Land and buildings`22`	750,024	772,347	792,526	3.0m	2.7m	2.5m	2.2m	1.9m	2.4m	2.5m	2.4m	2.9m	2.1m	850,483	630,613	1.4m	1.5m	1.5m	1.6m	1.1m
Furniture and vehicles`24`	698	1,303	-	-	-	-	667	1,333	-	-	-	-	17,903	80,808	113,712	71,610	14,750	52,247	91,746	70,243
Financial fixed assets`28`	895,784	895,784	895,784	45,784	508,645	508,645	508,645	513,845	512,545	511,245	511,245	509,687	508,387	495,787	495,857	495,857	495,787	498,387	498,387	498,387
Current assets`29/58`	1.2m	1.2m	1.2m	311,280	33,795	183,346	277,653	414,598	395,462	620,312	740,191	182,927	371,381	415,138	691,957	170,353	112,599	372,617	67,875	309,795
Amounts receivable within one year`40/41`	1.1m	1.1m	387,669	165,367	9,752	112,580	162,580	160,000	100,000	125,000	173,470	173,470	223,470	173,470	191,856	98,267	23,262	29,138	33,559	75,613
Trade receivables`40`	-	-	-	-	-	-	-	-	-	-	269	269	269	269	18,655	75,066	61	61	4,430	4,430
Other amounts receivable`41`	1.1m	1.1m	387,669	165,367	9,752	112,580	162,580	160,000	100,000	125,000	173,201	173,201	223,201	173,201	173,201	23,201	23,201	29,077	29,128	71,182
Current investments`50/53`	-	-	-	-	-	-	82,137	82,137	278,514	409,427	246,896	-	-	137,467	-	-	-	-	-	182,270
Cash at bank and in hand`54/58`	65,153	41,404	778,776	142,817	23,932	64,607	28,438	171,399	16,089	68,072	305,592	9,457	114,509	69,407	441,408	11,534	77,807	245,147	29,816	37,707
Deferred charges and accrued income`490/1`	10,588	10,000	10,000	3,095	111	6,159	4,497	1,062	858	17,814	14,233	-	33,402	34,794	58,693	60,552	11,531	98,331	4,500	14,205
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	2.8m	2.8m	2.9m	3.3m	3.2m	3.2m	2.9m	2.8m	3.4m	3.6m	3.6m	3.6m	3.0m	1.8m	1.9m	2.2m	2.1m	2.4m	2.2m	2.0m
Equity`10/15`	2.8m	2.8m	2.8m	1.6m	2.0m	2.1m	2.0m	2.1m	1.7m	1.7m	1.7m	1.5m	1.5m	1.6m	1.5m	1.4m	1.4m	1.4m	1.3m	1.3m
Contributions`10/11`	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561
Capital`10`	851,561	851,561	851,561	851,561	851,561	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561	851,561
Reserves`13`	71,457	72,145	72,832	159,080	162,942	166,805	169,676	173,538	279,608	284,598	287,453	202,892	208,930	216,517	218,253	134,837	143,156	148,281	152,876	157,684
Non-distributable reserves`130/1`	48,295	48,295	48,295	48,295	48,295	48,295	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	48,295	48,295	48,295	48,295	48,295	48,295	47,303	47,303	24,234	24,234	22,525	14,429	14,429	14,429	13,092	13,092	13,092	13,092	13,092	13,092
Tax-exempt reserves`132`	23,163	23,850	24,537	110,785	114,648	118,510	122,373	126,235	255,373	260,363	264,929	188,463	194,501	202,088	205,161	121,745	130,064	135,188	139,783	144,592
Profit (loss) carried forward`14`	1.9m	1.9m	1.9m	543,587	1.0m	1.0m	1.0m	1.1m	612,232	582,763	550,281	396,469	483,537	504,712	479,312	407,273	400,347	382,953	269,573	280,173
Provisions and deferred taxes`16`	4,952	5,291	5,629	52,606	56,468	58,371	60,273	62,176	129,137	131,595	133,843	95,152	100,391	104,128	105,642	62,689	66,973	69,611	71,977	74,453
Deferred taxes`168`	4,952	5,291	5,629	52,606	56,468	58,371	60,273	62,176	129,137	131,595	133,843	95,152	100,391	104,128	105,642	62,689	66,973	69,611	71,977	74,453
Amounts payable`17/49`	33,142	37,728	32,746	1.7m	1.1m	1.1m	854,890	685,413	1.5m	1.8m	1.8m	2.1m	1.4m	165,298	277,371	701,780	651,310	949,821	890,657	656,186
Amounts payable after more than one year`17`	-	-	-	181,676	221,357	260,233	298,319	335,631	619,991	700,520	780,069	381,203	298,550	19,817	61,654	86,201	42,617	95,678	170,114	192,610
Financial debts`170/4`	-	-	-	181,676	221,357	260,233	298,319	335,631	619,991	700,520	780,069	381,203	298,550	19,817	61,654	86,201	42,617	95,678	170,114	192,610
Amounts payable within one year`42/48`	33,142	37,728	32,746	1.5m	915,684	796,529	556,571	344,281	845,351	1.1m	1.0m	1.7m	1.1m	145,481	215,716	615,579	608,693	847,436	720,543	463,576
Current portion of amounts payable after more than one year`42`	-	-	-	39,681	38,875	38,086	37,313	36,555	84,400	79,549	78,591	43,979	20,419	23,452	42,932	69,389	53,061	74,436	72,517	65,554
Financial debts`43`	-	-	-	1.1m	742,716	542,347	199,812	-	310,000	590,192	603,592	1.4m	901,521	-	-	425,000	425,000	445,000	-	-
Credit institutions`430/8`	-	-	-	1.1m	742,716	542,347	199,812	-	310,000	590,192	603,592	1.4m	901,521	-	-	425,000	425,000	445,000	-	-
Trade debts`44`	0	3,194	1,098	11,886	13,876	17,629	21,862	7,343	9,604	64,001	18,070	1,399	3,322	12,475	15,791	13,475	43,253	3,520	6,891	11,193
Suppliers`440/4`	0	3,194	1,098	11,886	13,876	17,629	21,862	7,343	9,604	64,001	18,070	1,399	3,322	12,475	15,791	13,475	43,253	3,520	6,891	11,193
Advances received on contracts in progress`46`	-	-	-	300,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	33	251	-	572	170	4,815	202,231	205,045	56,011	30,928	20,885	-	-	11,170	21,034	5,347	52,733	59,961	12,738	8,574
Taxes`450/3`	33	251	-	572	170	4,815	202,195	203,950	47,679	26,675	17,913	-	-	11,170	21,034	1,347	52,733	59,961	12,738	8,574
Remuneration and social security`454/9`	-	-	-	-	-	-	36	1,095	8,332	4,253	2,972	-	-	-	-	4,000	-	-	-	-
Other amounts payable`47/48`	33,109	34,284	31,649	121,793	120,047	193,652	95,354	95,339	385,336	314,444	296,999	228,779	148,369	98,384	135,959	102,369	34,645	264,519	628,396	378,255
Accrued charges and deferred income`492/3`	-	-	-	-	-	300	-	5,500	18,000	1,320	-	-	-	-	-	-	-	6,707	-	-
Income statement
Turnover`70`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	320,079
Non-recurring operating income`76A`	-	-	-	-	-	-	-	818,728	132,031	108,462	191,363	12,097	12,442	-	244,503	54,736	-	3,594	14,327	-
Gross operating margin`9900`	32,312	383	1.8m	74,720	75,020	57,175	28,338	-248,776	110,271	228,391	84,716	15,550	74,222	105,458	75,515	81,129	149,820	319,980	156,688	156,606
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	163,473
Remuneration, social security and pensions`62`	-	-	-	-	-	-	-734	15,902	57,991	32,993	47,879	-	-	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	18,253	18,340	17,964	65,398	59,911	48,764	44,320	35,782	50,329	67,283	71,938	81,290	88,101	72,042	65,601	88,655	106,464	105,514	102,871	80,028
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	35,000	-	-	-	-	-	39,529	23,470	-	-	-	-	-	-	-	2,001	-	-
Other operating charges`640/8`	14,042	13,675	15,904	18,479	18,367	20,486	15,548	22,321	23,455	24,493	15,462	12,210	13,940	11,733	23,248	20,192	16,942	14,659	16,203	13,229
Non-recurring operating charges`66A`	-	-	-	-	-	-	-	-	0	16,056	-	-	11,920	-	-	-	-	-	26,770	10,176
Operating profit (loss)`9901`	17	-31,632	1.7m	-9,156	-3,258	-12,076	-30,796	-322,781	-61,033	80,151	-50,563	-77,950	-27,819	21,683	-13,334	-27,718	26,414	197,805	37,614	63,349
Financial income`75/76B`	-	-	6	5,372	-	40,337	353	823,213	165,682	929	809	263	9,540	24,604	553	59	71	480	339	245
Recurring financial income`75`	-	-	6	-	-	40,337	353	4,485	33,651	929	809	263	9,540	24,604	553	59	71	480	339	245
Non-recurring financial income`76B`	-	-	-	5,372	-	-	-	818,728	132,031	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	903	1,583	29,535	477,033	16,761	10,202	13,333	32,689	39,976	44,952	38,928	32,745	12,510	9,282	7,947	16,381	18,191	48,914	43,343	39,801
Recurring financial charges`65`	903	1,583	29,535	14,173	15,903	10,202	13,333	32,689	39,976	28,896	38,928	32,745	12,510	9,282	7,947	16,381	18,191	48,914	43,343	39,801
Non-recurring financial charges`66B`	-	-	-	462,860	858	-	-	-	-	16,056	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	-886	-33,215	1.7m	-480,818	-20,019	18,059	-43,776	467,743	64,673	36,128	102,682	-98,335	-30,268	37,005	223,775	10,697	8,294	152,966	-17,834	13,617
Transfer from deferred taxes`780`	338	338	46,976	3,862	1,902	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes`67/77`	2,907	251	443,270	401	341	3,999	-	202,459	42,653	8,751	17,779	11	2,231	14,855	25,366	16,374	-1,337	46,547	51	2,433
Profit (loss) for the period`9904`	-3,455	-33,127	1.3m	-477,357	-18,457	15,962	-41,873	332,245	24,478	29,626	111,143	-93,106	-28,762	25,197	155,456	-1,393	12,269	108,785	-15,409	12,028
Transfer from tax-exempt reserves`789`	687	687	86,248	3,862	3,862	3,862	3,862	129,138	4,990	4,565	50,765	6,038	7,587	1,540	66,511	8,319	5,124	4,595	4,808	1,638
Transfer to tax-exempt reserves`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	149,927	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	-2,767	-32,440	1.4m	-473,494	-14,594	19,825	-38,011	461,384	29,468	34,192	161,908	-87,068	-21,175	26,737	72,039	6,926	17,394	113,380	-10,600	13,666
Appropriation of the result
Profit (loss) to be appropriated`9906`	1.9m	1.9m	1.9m	543,587	1.0m	1.0m	1.0m	1.1m	612,232	584,473	558,377	396,469	483,537	506,049	479,312	407,273	400,347	382,953	269,573	280,173
Profit (loss) brought forward from the previous period`14P`	1.9m	1.9m	543,587	1.0m	1.0m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	991	-	23,069	-	1,710	8,095	-	-	1,337	-	-	0	-	-	-
To the legal reserve`6920`	-	-	-	-	-	991	-	23,069	-	1,710	8,095	-	-	1,337	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	-	-	-	-	-	2	2	2	1.8	-	-	-	-	-	-	-	-	-
Hours worked`1013`	-	-	-	-	-	-	-	923	3,419	1,779	2,250	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	02-07-2026	2026-00239196	PDF
31-12-2024	full format	18-07-2025	2025-00284156	PDF
31-12-2023	full format	24-06-2024	2024-00152933	PDF
31-12-2022	full format	17-08-2023	2023-00331734	PDF
31-12-2021	full format	11-08-2022	2022-20282671	PDF
31-12-2020	full format	27-08-2021	2021-54400434	PDF
31-12-2019	full format	14-08-2020	2020-41000399	PDF
31-12-2018	full format	30-08-2019	2019-55300433	PDF
31-12-2017	full format	30-08-2018	2018-53100549	PDF
31-12-2016	full format	21-09-2017	2017-61400415	PDF
31-12-2015	full format	30-08-2016	2016-49500551	PDF
31-12-2014	full format	27-08-2015	2015-47400352	PDF
31-12-2013	full format	21-08-2014	2014-43800451	PDF
31-12-2012	full format	29-08-2013	2013-48800565	PDF
31-12-2011	full format	21-08-2012	2012-42000477	PDF
31-12-2010	full format	25-08-2011	2011-43100184	PDF
31-12-2009	full format	21-06-2010	2010-19100041	PDF
31-12-2008	full format	25-08-2009	2009-61300187	PDF
31-12-2007	full format	24-07-2008	2008-44700129	PDF
31-12-2006	full format	19-07-2007	2007-42000353	PDF
31-12-2005	full format	24-08-2006	2006-65601856	PDF
31-12-2004	full format	22-07-2005	2005-53801660	PDF
31-12-2003	full format	01-07-2004	2004-37701577	PDF
31-12-2002	full format	05-09-2003	2003-65101838	PDF
31-12-2001	full format	26-06-2002	2002-27602104	PDF
31-12-2000	full format	28-11-2001	2001-71702996	PDF
31-12-1999	full format	17-10-2000	2000-65605335	PDF
31-12-1998	full format	02-11-1999	1999-56304688	PDF
31-12-1997	full format	29-06-1998	1998-24301769	PDF
31-12-1996	full format	26-03-1998	1998-05201884	PDF
31-12-1995	full format	29-11-1996	1996-52005145	PDF
31-12-1994	full format	14-11-1995	1995-56801872	PDF
31-12-1993	full format	29-09-1994	1994-41600064	PDF
31-12-1992	full format	15-12-1993	1993-46000619	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	18,269	-13,291	1.7m	56,242	56,653	36,689	13,524	-286,999	-10,704	147,434	21,375	3,340	60,282	93,725	52,267	60,938	132,878	303,319	140,485	143,377
Cash flow	14,798	-14,787	1.3m	-411,959	41,454	64,726	2,446	368,027	74,807	96,910	183,080	-11,816	59,339	97,239	221,057	87,262	118,733	214,299	87,462	92,056
Investment in fixed assets (approximation)	-4,676	3,615	850,000	360,737	269,082	359,609	312,167	818,776	739,095	786,192	1.3m	875,336	1.4m	259,008	101,595	124,399	80,201	447,834	561,377	236,923
Change in cash	23,749	-737,371	635,958	118,885	-40,674	36,168	-142,960	155,309	-51,982	-237,520	296,135	-105,052	45,102	-372,001	429,874	-66,273	-167,340	215,331	-7,891	-
Working capital	1.1m	1.1m	1.1m	-1.2m	-881,889	-613,183	-278,919	70,317	-449,889	-458,802	-277,947	-1.5m	-702,250	269,657	476,241	-445,227	-496,093	-474,819	-652,668	-153,781
EBIT margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19.8%
Solvency	98.7%	98.5%	98.7%	46.6%	63.0%	64.8%	69.0%	73.5%	52.0%	47.3%	46.6%	40.3%	51.2%	85.4%	80.2%	64.6%	66.0%	57.6%	57.0%	63.8%
Current ratio	35.65	30.93	35.93	0.20	0.04	0.23	0.50	1.20	0.47	0.57	0.73	0.11	0.35	2.85	3.21	0.28	0.18	0.44	0.09	0.67
Debt to equity	0.01	0.01	0.01	1.11	0.56	0.52	0.42	0.33	0.85	1.04	1.06	1.42	0.89	0.11	0.18	0.50	0.47	0.69	0.70	0.51
ROE	-0.1%	-1.2%	45.0%	-30.7%	-0.9%	0.8%	-2.1%	16.0%	1.4%	1.7%	6.6%	-6.4%	-1.9%	1.6%	10.0%	-0.1%	0.9%	7.9%	-1.2%	0.9%
ROA	-0.1%	-1.2%	44.4%	-14.3%	-0.6%	0.5%	-1.4%	11.8%	0.7%	0.8%	3.1%	-2.6%	-1.0%	1.4%	8.0%	-0.1%	0.6%	4.5%	-0.7%	0.6%
Interest coverage	20.24	-8.40	58.10	3.97	3.56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5 days
Supplier credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25 days

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	€3,615	-	€360,737	€269,082
Financial fixed assets	-	-	€850,000	-	-
Depreciation and write-downs of the year	€18,253	€18,340	€17,964	€65,398	€59,911

IMMO SAPP

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin euro

Staff

Staff cost per FTE

Blue and white collar

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on IMMO SAPP

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