IMMO SECO
ActiveSummary
IMMO SECO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.55M and a net result of €287k. Equity is shrinking by ~12.6% per year across the filed fiscal years. Its solvency ranks better than 57% of 4809 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71▲+9
Solvency64▲+13
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €470k at 30 days acceptable
Liquidity short (current ratio 0.66 against 1.0 in 2023; short-term debt: 11% and cash: 5.4% of total assets), and 61% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
39%
Return on assets
1.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
44 d early
2022
26 d early
2021
33 d early
2020
3 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€287k▼ 33.3%
2023 · €431k
2019: €6.89Mhighest in 6 years
2020: €125k▼ -98.2% vs 2019
2021: €-110k▼ -188% vs 2020lowest in 6 years
2022: €30k▲ +127% vs 2021
2023: €431k▲ +1322% vs 2022
2024: €287k▼ -33.3% vs 2023
2019 → 2024
Working capital
€-628k
2023 · €2k
2019: €15.71M
2020: €17.93M▲ +14.1% vs 2019highest in 6 years
2021: €16.99M▼ -5.3% vs 2020
2022: €9.52M▼ -44.0% vs 2021
2023: €2k▼ -100.0% vs 2022
2024: €-628k▼ -31735% vs 2023lowest in 6 years
2019 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€13.01M-€12.90M▼ 0.8%€12.60M▼ 2.3%€6.54M▼ 48.1%€6.55M▲ 0.2%
2020: €13.01Mhighest in 5 years
2021: €12.90M▼ -0.8% vs 2020
2022: €12.60M▼ -2.3% vs 2021
2023: €6.54M▼ -48.1% vs 2022lowest in 5 years
2024: €6.55M▲ +0.2% vs 2023
Operating result€271k-€247k▼ 8.8%€631k▲ 156%€343k▼ 45.6%€491k▲ 42.9%
2020: €271k
2021: €247k▼ -8.8% vs 2020lowest in 5 years
2022: €631k▲ +156% vs 2021highest in 5 years
2023: €343k▼ -45.6% vs 2022
2024: €491k▲ +42.9% vs 2023
Net result€125k-€-110k€30k€431k▲ 1,322%€287k▼ 33.3%
2020: €125k
2021: €-110k▼ -188% vs 2020lowest in 5 years
2022: €30k▲ +127% vs 2021
2023: €431k▲ +1322% vs 2022highest in 5 years
2024: €287k▼ -33.3% vs 2023
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 43% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €16.79M
Fixed assets
€15.58M ▼ 4.2%
Current assets
€1.21M ▼ 86.2%
Equity and liabilities €16.79M
Equity
€6.55M ▲ 0.2%
Debt
€10.23M ▼ 44.7%
Debt's share of the balance-sheet total falls from 73.9% to 61.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.22M▲
2023 · €1.07M
Cash flow
€1.01M▼
2023 · €1.15M
Current ratio
0.66▼
2023 · 1.00
Debt to equity
1.56▼
2023 · 2.83
ROE
4.4%▼
2023 · 6.6%
ROA
1.7%▼
2023 · 1.7%
Interest coverage
8.82▲
2023 · 4.88
Debt ≤ 1 year
€1.84M▼
2023 · €8.78M
Debt > 1 year
€8.33M▼
2023 · €9.64M
Income taxes
€102k▼
2023 · €2.55M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 59 lines
Balance sheet
Code20232024
Assets
Total assets20/58€25.04M€16.79M▼
Fixed assets21/28€16.25M€15.58M▼
Tangible fixed assets22/27€16.25M€15.57M▼
Land and buildings22€14.28M€13.81M▼
Plant, machinery and equipment23€38k€33k▼
Furniture and vehicles24€164k€123k▼
Other tangible fixed assets26€1.77M€1.60M▼
Financial fixed assets28-€11k
Current assets29/58€8.78M€1.21M▼
Amounts receivable after more than one year29€4.50M-
Other amounts receivable291€4.50M-
Amounts receivable within one year40/41€490k€262k▼
Trade receivables40€93k€186k▲
Other amounts receivable41€397k€76k▼
Current investments50/53€1.75M-
Cash at bank and in hand54/58€1.99M€900k▼
Deferred charges and accrued income490/1€57k€51k▼
Equity and liabilities
Total equity and liabilities10/49€25.04M€16.79M▼
Equity10/15€6.54M€6.55M▲
Contributions10/11€6.00M€6.00M=
Capital10€6.00M€6.00M=
Issued capital100€6.00M€6.00M=
Reserves13€374k€388k▲
Non-distributable reserves130/1€374k€388k▲
Legal reserve130€374k€388k▲
Profit (loss) carried forward14€166k€166k=
Amounts payable17/49€18.50M€10.23M▼
Amounts payable after more than one year17€9.64M€8.33M▼
Financial debts170/4€9.64M€8.33M▼
Amounts payable within one year42/48€8.78M€1.84M▼
Current portion of amounts payable after more than one year42€1.29M€1.30M▲
Trade debts44€53k€157k▲
Suppliers440/4€53k€157k▲
Taxes, remuneration and social security45€950k€108k▼
Taxes450/3€950k€108k▼
Other amounts payable47/48€6.49M€273k▼
Accrued charges and deferred income492/3€80k€62k▼
Income statement
Code20232024
Non-recurring operating income76A-€11k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€723k€726k▲
Other operating charges640/8€52k€11k▼
Gross operating margin9900€1.12M€1.23M▲
Operating profit (loss)9901€343k€491k▲
Financial income75/76B€172k€36k▼
Recurring financial income75€172k€36k▼
Financial charges65/66B€226k€138k▼
Recurring financial charges65€218k€138k▼
Non-recurring financial charges66B€8k€51▼
Profit (loss) for the period before taxes9903€289k€389k▲
Transfer from deferred taxes780€2.69M-
Income taxes67/77€2.55M€102k▼
Profit (loss) for the period9904€431k€287k▼
Transfer from tax-exempt reserves789€6.40M-
Profit (loss) for the period to be appropriated9905€6.83M€287k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7.00M€453k▼
Profit (loss) brought forward from the previous period14P€166k€166k=
Transfer to equity691/2€342k€14k▼
To the legal reserve6920€342k€14k▼
Profit to be distributed694/7€6.49M€273k▼
Return on contributions (dividend)694€6.49M€273k▼
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €11k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €54k | €602k | €723k | €726k | ▲ 0.4% |
| Other operating charges640/8 | - | €379k | €20k | €52k | €11k | ▼ 78.2% |
| Gross operating margin9900 | €683k | €681k | €1.25M | €1.12M | €1.23M | ▲ 9.8% |
| Operating profit (loss)9901 | €271k | €247k | €631k | €343k | €491k | ▲ 42.9% |
| Financial income75/76B | - | €7k | €148k | €172k | €36k | ▼ 79.0% |
| Recurring financial income75 | €6k | €7k | €148k | €172k | €36k | ▼ 79.0% |
| Financial charges65/66B | - | €194k | €220k | €226k | €138k | ▼ 39.1% |
| Recurring financial charges65 | €71k | €194k | €220k | €218k | €138k | ▼ 36.8% |
| Non-recurring financial charges66B | - | - | - | €8k | €51 | ▼ 99.4% |
| Profit (loss) for the period before taxes9903 | €205k | €59k | €560k | €289k | €389k | ▲ 34.7% |
| Transfer from deferred taxes780 | - | - | €133k | €2.69M | - | - |
| Income taxes67/77 | €80k | €170k | €663k | €2.55M | €102k | ▼ 96.0% |
| Profit (loss) for the period9904 | €125k | €-110k | €30k | €431k | €287k | ▼ 33.3% |
| Transfer from tax-exempt reserves789 | - | - | €317k | €6.40M | - | - |
| Profit (loss) for the period to be appropriated9905 | €125k | €-110k | €347k | €6.83M | €287k | ▼ 95.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €28.87M | €34.36M | €28.62M | €25.04M | €16.79M | ▼ 32.9% |
| Fixed assets21/28 | €10.04M | €15.22M | €16.94M | €16.25M | €15.58M | ▼ 4.2% |
| Tangible fixed assets22/27 | €10.04M | €15.22M | €16.94M | €16.25M | €15.57M | ▼ 4.2% |
| Land and buildings22 | - | €14.67M | €14.75M | €14.28M | €13.81M | ▼ 3.3% |
| Plant, machinery and equipment23 | - | - | €63k | €38k | €33k | ▼ 11.8% |
| Furniture and vehicles24 | - | €219k | €220k | €164k | €123k | ▼ 25.1% |
| Other tangible fixed assets26 | - | - | €1.90M | €1.77M | €1.60M | ▼ 9.8% |
| Assets under construction and advance payments27 | - | €325k | €6k | - | - | - |
| Financial fixed assets28 | - | - | - | - | €11k | - |
| Current assets29/58 | €18.84M | €19.14M | €11.68M | €8.78M | €1.21M | ▼ 86.2% |
| Amounts receivable after more than one year29 | - | €5k | €5.00M | €4.50M | - | - |
| Other amounts receivable291 | - | €5k | €5.00M | €4.50M | - | - |
| Amounts receivable within one year40/41 | €9.82M | €9.89M | €3.51M | €490k | €262k | ▼ 46.6% |
| Trade receivables40 | - | €574k | €610k | €93k | €186k | ▲ 100.0% |
| Other amounts receivable41 | - | €9.32M | €2.90M | €397k | €76k | ▼ 81.0% |
| Current investments50/53 | - | - | - | €1.75M | - | - |
| Cash at bank and in hand54/58 | €1.45M | €9.19M | €3.12M | €1.99M | €900k | ▼ 54.7% |
| Deferred charges and accrued income490/1 | - | €58k | €58k | €57k | €51k | ▼ 11.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €28.87M | €34.36M | €28.62M | €25.04M | €16.79M | ▼ 32.9% |
| Equity10/15 | €13.01M | €12.90M | €12.60M | €6.54M | €6.55M | ▲ 0.2% |
| Contributions10/11 | €6.00M | €6.00M | €6.00M | €6.00M | €6.00M | = |
| Capital10 | - | €6.00M | €6.00M | €6.00M | €6.00M | = |
| Issued capital100 | - | €6.00M | €6.00M | €6.00M | €6.00M | = |
| Reserves13 | €6.73M | €6.73M | €6.43M | €374k | €388k | ▲ 3.8% |
| Non-distributable reserves130/1 | - | €15k | €32k | €374k | €388k | ▲ 3.8% |
| Legal reserve130 | - | €15k | €32k | €374k | €388k | ▲ 3.8% |
| Tax-exempt reserves132 | - | €6.72M | €6.40M | - | - | - |
| Profit (loss) carried forward14 | €276k | €166k | €166k | €166k | €166k | = |
| Provisions and deferred taxes16 | €2.82M | €2.82M | €2.69M | - | - | - |
| Deferred taxes168 | - | €2.82M | €2.69M | - | - | - |
| Amounts payable17/49 | €13.04M | €18.63M | €13.33M | €18.50M | €10.23M | ▼ 44.7% |
| Amounts payable after more than one year17 | €12.13M | €16.48M | €11.08M | €9.64M | €8.33M | ▼ 13.5% |
| Financial debts170/4 | - | €16.48M | €11.08M | €9.64M | €8.33M | ▼ 13.5% |
| Amounts payable within one year42/48 | €908k | €2.15M | €2.16M | €8.78M | €1.84M | ▼ 79.0% |
| Current portion of amounts payable after more than one year42 | - | €752k | €1.28M | €1.29M | €1.30M | ▲ 1.1% |
| Trade debts44 | €552k | €1.23M | €156k | €53k | €157k | ▲ 198% |
| Suppliers440/4 | - | €1.03M | €105k | €53k | €157k | ▲ 198% |
| Bills of exchange payable441 | - | €202k | €51k | - | - | - |
| Advances received on contracts in progress46 | - | - | €150k | - | - | - |
| Taxes, remuneration and social security45 | - | €168k | €247k | €950k | €108k | ▼ 88.6% |
| Taxes450/3 | - | €168k | €247k | €950k | €108k | ▼ 88.6% |
| Other amounts payable47/48 | - | - | €330k | €6.49M | €273k | ▼ 95.8% |
| Accrued charges and deferred income492/3 | - | €2k | €96k | €80k | €62k | ▼ 22.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125k | €-110k | €30k | €431k | €287k | ▼ 33.3% |
| + Depreciation and write-downs630 | - | €54k | €602k | €723k | €726k | ▲ 0.4% |
| Operating cash flow (approximation) | €125k | €-56k | €632k | €1.15M | €1.01M | ▼ 12.2% |
| Investment in fixed assets (approximation) | - | €-5.23M | €-2.33M | €-32k | €-50k | ▼ 55.1% |
| Change in cash | - | €7.73M | €-6.07M | €-1.13M | €-1.09M | ▲ 3.8% |
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
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €30k
Net result €30k after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 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
20 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, Machelen (Brab.) · 1 establishment unit since 2017
Ground area
5,325 m²
Building footprint
3,164 m²
Volume, LiDAR
360 m³
Parcel 23015B0056/00R000, Flanders · tallest building 7.2 m. Linked by address, not a title deed.
30
companies at this address
See who is registered here
1 establishment unit
IMMO SECO
since 20172.266.073.715
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015B0056/00R000 | Flanders | 5,325 m² | 1 · 3,164 m² | 7.2 m |
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 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,759 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
Founded31-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
68322Real estate appraisal on a fee or contract basis
68321Property management for co-owned buildings (syndics)
Scores and ratios are computed by Checked and are not a credit decision.