IMMO SHAAN
ActiveSummary
IMMO SHAAN has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €44k and a net result of €5k. Equity is growing by ~35.2% per year across the filed fiscal years. Its solvency ranks better than 37% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▼-10
Solvency40▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.33 in 2024; short-term debt: 20.9% of total assets), and 85.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 2025Solvency, return and age of the figures
Solvency
14.7%
Return on assets
1.5%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-09-2026, 41 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
41 d late
2024
16 d early
2023
35 d early
2022
86 d early
2021
31 d late
2020
38 d late
2019
122 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€44k▲ 11.5%
2024 · €40k
2019: €4klowest in 7 years
2020: €7k▲ +66.6% vs 2019
2021: €14k▲ +101% vs 2020
2022: €20k▲ +42.9% vs 2021
2023: €31k▲ +52.9% vs 2022
2024: €40k▲ +28.8% vs 2023
2025: €44k▲ +11.5% vs 2024highest in 7 years
2019 → 2025
Total assets
€300k▼ 2.3%
2024 · €308k
2019: €344khighest in 7 years
2020: €334k▼ -2.9% vs 2019
2021: €331k▼ -0.7% vs 2020
2022: €319k▼ -3.7% vs 2021
2023: €315k▼ -1.2% vs 2022
2024: €308k▼ -2.4% vs 2023
2025: €300k▼ -2.3% vs 2024lowest in 7 years
2019 → 2025
Net result
€5k▼ 48.5%
2024 · €9k
2019: €-2klowest in 7 years
2020: €3k▲ +242% vs 2019
2021: €7k▲ +152% vs 2020
2022: €6k▼ -14.5% vs 2021
2023: €11k▲ +76.0% vs 2022highest in 7 years
2024: €9k▼ -16.6% vs 2023
2025: €5k▼ -48.5% vs 2024
2019 → 2025
Working capital
€-42k▼ 2.8%
2024 · €-41k
2019: €-60klowest in 7 years
2020: €-53k▲ +12.5% vs 2019
2021: €-49k▲ +6.5% vs 2020
2022: €-50k▼ -0.6% vs 2021
2023: €-43k▲ +12.5% vs 2022
2024: €-41k▲ +6.0% vs 2023highest in 7 years
2025: €-42k▼ -2.8% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€14k-€20k▲ 42.9%€31k▲ 52.9%€40k▲ 28.8%€44k▲ 11.5%
2021: €14klowest in 5 years
2022: €20k▲ +42.9% vs 2021
2023: €31k▲ +52.9% vs 2022
2024: €40k▲ +28.8% vs 2023
2025: €44k▲ +11.5% vs 2024highest in 5 years
Operating result€15k-€14k▼ 2.3%€20k▲ 39.8%€18k▼ 12.0%€11k▼ 35.4%
2021: €15k
2022: €14k▼ -2.3% vs 2021
2023: €20k▲ +39.8% vs 2022highest in 5 years
2024: €18k▼ -12.0% vs 2023
2025: €11k▼ -35.4% vs 2024lowest in 5 years
Net result€7k-€6k▼ 14.5%€11k▲ 76.0%€9k▼ 16.6%€5k▼ 48.5%
2021: €7k
2022: €6k▼ -14.5% vs 2021
2023: €11k▲ +76.0% vs 2022highest in 5 years
2024: €9k▼ -16.6% vs 2023
2025: €5k▼ -48.5% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 35% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €300k
Fixed assets
€280k ▼ 2.8%
Current assets
€21k ▲ 4.7%
Equity and liabilities €300k
Equity
€44k ▲ 11.5%
Debt
€256k ▼ 4.4%
Debt's share of the balance-sheet total falls from 87.1% to 85.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19k▼
2024 · €26k
Cash flow
€13k▼
2024 · €17k
Current ratio
0.33▲
2024 · 0.33
Debt to equity
5.78▼
2024 · 6.74
ROE
10.3%▼
2024 · 22.4%
ROA
1.5%▼
2024 · 2.9%
Interest coverage
3.78▼
2024 · 4.71
Debt ≤ 1 year
€63k▲
2024 · €61k
Debt > 1 year
€193k▼
2024 · €207k
Income taxes
€2k▼
2024 · €3k
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 · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€308k€300k▼
Fixed assets21/28€288k€280k▼
Tangible fixed assets22/27€288k€280k▼
Land and buildings22€288k€280k▼
Current assets29/58€20k€21k▲
Amounts receivable within one year40/41-€18k
Other amounts receivable41-€18k
Cash at bank and in hand54/58€20k-
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€308k€300k▼
Equity10/15€40k€44k▲
Contributions10/11€6k€6k=
Reserves13€435€435=
Non-distributable reserves130/1€435€435=
Reserves not available under the articles1311€435€435=
Profit (loss) carried forward14€33k€38k▲
Amounts payable17/49€268k€256k▼
Amounts payable after more than one year17€207k€193k▼
Financial debts170/4€207k€193k▼
Amounts payable within one year42/48€61k€63k▲
Financial debts43€14k€19k▲
Credit institutions430/8€14k€19k▲
Trade debts44-€4k
Suppliers440/4-€4k
Taxes, remuneration and social security45€667€2k▲
Taxes450/3€667€2k▲
Other amounts payable47/48€46k€38k▼
Accrued charges and deferred income492/3€484€581▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k=
Other operating charges640/8€5k€6k▲
Gross operating margin9900€30k€26k▼
Operating profit (loss)9901€18k€11k▼
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€12k€6k▼
Income taxes67/77€3k€2k▼
Profit (loss) for the period9904€9k€5k▼
Profit (loss) for the period to be appropriated9905€9k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€33k€38k▲
Profit (loss) brought forward from the previous period14P€24k€33k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €8k | €8k | €8k | €8k | = |
| Other operating charges640/8 | €4k | €4k | €5k | €5k | €6k | ▲ 34.1% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €26k | €26k | €33k | €30k | €26k | ▼ 15.3% |
| Operating profit (loss)9901 | €15k | €14k | €20k | €18k | €11k | ▼ 35.4% |
| Financial income75/76B | €443 | - | - | - | - | - |
| Recurring financial income75 | €443 | - | - | - | - | - |
| Financial charges65/66B | €6k | €6k | €6k | €5k | €5k | ▼ 5.6% |
| Recurring financial charges65 | €6k | €6k | €6k | €5k | €5k | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | €9k | €8k | €14k | €12k | €6k | ▼ 48.7% |
| Income taxes67/77 | €2k | €2k | €4k | €3k | €2k | ▼ 49.3% |
| Profit (loss) for the period9904 | €7k | €6k | €11k | €9k | €5k | ▼ 48.5% |
| Profit (loss) for the period to be appropriated9905 | €7k | €6k | €11k | €9k | €5k | ▼ 48.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €331k | €319k | €315k | €308k | €300k | ▼ 2.3% |
| Fixed assets21/28 | €312k | €304k | €296k | €288k | €280k | ▼ 2.8% |
| Tangible fixed assets22/27 | €312k | €304k | €296k | €288k | €280k | ▼ 2.8% |
| Land and buildings22 | €312k | €304k | €296k | €288k | €280k | ▼ 2.8% |
| Current assets29/58 | €19k | €15k | €19k | €20k | €21k | ▲ 4.7% |
| Amounts receivable within one year40/41 | €10k | - | - | - | €18k | - |
| Trade receivables40 | €3k | - | - | - | - | - |
| Other amounts receivable41 | €7k | - | - | - | €18k | - |
| Cash at bank and in hand54/58 | €9k | €15k | €19k | €20k | - | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €3k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €331k | €319k | €315k | €308k | €300k | ▼ 2.3% |
| Equity10/15 | €14k | €20k | €31k | €40k | €44k | ▲ 11.5% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €435 | €435 | €435 | €435 | €435 | = |
| Non-distributable reserves130/1 | €435 | €435 | €435 | €435 | €435 | = |
| Reserves not available under the articles1311 | €435 | €435 | €435 | €435 | €435 | = |
| Profit (loss) carried forward14 | €7k | €14k | €24k | €33k | €38k | ▲ 13.8% |
| Amounts payable17/49 | €317k | €299k | €284k | €268k | €256k | ▼ 4.4% |
| Amounts payable after more than one year17 | €247k | €234k | €222k | €207k | €193k | ▼ 6.7% |
| Financial debts170/4 | €247k | €234k | €222k | €207k | €193k | ▼ 6.7% |
| Amounts payable within one year42/48 | €69k | €65k | €63k | €61k | €63k | ▲ 3.4% |
| Current portion of amounts payable after more than one year42 | €13k | - | - | - | - | - |
| Financial debts43 | - | €13k | €12k | €14k | €19k | ▲ 34.2% |
| Credit institutions430/8 | - | €13k | €12k | €14k | €19k | ▲ 34.2% |
| Trade debts44 | €544 | €2k | €300 | - | €4k | - |
| Suppliers440/4 | €544 | €2k | €300 | - | €4k | - |
| Taxes, remuneration and social security45 | €2k | €3k | €4k | €667 | €2k | ▲ 150% |
| Taxes450/3 | €2k | €3k | €4k | €667 | €2k | ▲ 150% |
| Other amounts payable47/48 | €54k | €46k | €46k | €46k | €38k | ▼ 17.5% |
| Accrued charges and deferred income492/3 | €1k | - | - | €484 | €581 | ▲ 20.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €6k | €11k | €9k | €5k | ▼ 48.5% |
| + Depreciation and write-downs630 | €8k | €8k | €8k | €8k | €8k | = |
| Operating cash flow (approximation) | €15k | €14k | €19k | €17k | €13k | ▼ 25.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €6k | €4k | €586 | - | - |
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
10-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 41 days late
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €11k ▲76%
Operating result €20k, net result €11k, both a record.
06-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
07-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 38 days late
2020
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Anderlecht · 1 establishment unit since 2018
Ground area
162 m²
Building footprint
68 m²
Volume, LiDAR
1,054 m³
Parcel 21304B0130/00S002, Brussels · tallest building 19.6 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
IMMO SHAAN
since 20182.279.220.381
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0130/00S002 | Brussels | 162 m² | 1 · 68 m² | 19.6 m · 5 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.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 3,189 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded02-07-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.