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IMMO VDG

Active
Private limited company (pre-2019)founded 200719 yrs activeNoordlaan 23, 9230 Wetteren, BelgiumKBO/BCE: BE 0890.300.939
Summary

IMMO VDG has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32,072 and a net result of €24,816. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.8% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability53▲+14
Solvency29▲+3
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.03 in 2024; short-term debt: 38.4% and cash: 0.7% of total assets), and 96.4% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 19 years 0 20 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
3.6%
Return on assets
2.8%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €32,072
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
28 d late
2024
29 d late
2023
30 d late
2022
31 d late
2021
26 d late
2020
25 d late
2019
17 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 27 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 29 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

IMMO VDG was incorporated on 25 June 2007.1 Total assets rose from EUR 216,273 in 2018 to EUR 897,661 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, abbreviated schema

Source amounts without an identifiable currency are assumed to be EUR.

Equity
€32,072▲ 342%
2024 · €7,257
Total assets
€897,661▼ 0.6%
2024 · €903,397
Net result
€24,816▲ 1,953%
2024 · €1,209
Working capital
-€311,847▼ 2.4%
2024 · -€304,683
Trend over the years
In euros
In euros
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.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result€24,239€28,797▲ 18.8%€22,037▼ 23.5%€23,256▲ 5.5%€48,940▲ 110%
Net result€15,174€14,275▼ 5.9%€1,734▼ 87.9%€1,209▼ 30.3%€24,816▲ 1,953%
Equity-€9,961▲ 60.4%€4,314€6,048▲ 40.2%€7,257▲ 20.0%€32,072▲ 342%
Total assets€532,927▼ 3.1%€968,888▲ 81.8%€940,970▼ 2.9%€903,397▼ 4.0%€897,661▼ 0.6%
Debt€542,888▼ 5.6%€964,574▲ 77.7%€934,922▼ 3.1%€896,140▼ 4.1%€865,589▼ 3.4%
Working capital-€160,977▲ 8.2%-€253,669▼ 57.6%-€277,171▼ 9.3%-€304,683▼ 9.9%-€311,847▼ 2.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€0€20,000€40,000Operating result 2021: €24,239€24,239Net result 2021: €15,174€15,174Operating result 2022: €28,797€28,797Net result 2022: €14,275€14,275Operating result 2023: €22,037€22,037Net result 2023: €1,734€1,734Operating result 2024: €23,256€23,256Net result 2024: €1,209€1,209Operating result 2025: €48,940€48,940Net result 2025: €24,816€24,81620212022202320242025€0€20,000€40,000Operating result 2023: €22,037€22,000Net result 2023: €1,734€1,730Operating result 2024: €23,256€23,300Net result 2024: €1,209€1,210Operating result 2025: €48,940€48,900Net result 2025: €24,816€24,800202320242025
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 110% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €897,661
Fixed assets €864,638 ▼ 3.4%
Current assets €33,023 ▲ 291%
Equity and liabilities €897,661
Equity €32,072 ▲ 342%
Debt €865,589 ▼ 3.4%
Debt's share of the balance-sheet total falls from 99.2% to 96.4%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€79,248▲
2024 · €53,564
Cash flow
€55,123▲
2024 · €31,516
Current ratio
0.10▲
2024 · 0.03
Debt to equity
26.99
ROE
77.4%▲
2024 · 16.7%
ROA
2.8%▲
2024 · 0.1%
Interest coverage
3.65▲
2024 · 2.43
Debt ≤ 1 year
€344,871▲
2024 · €313,134
Debt > 1 year
€507,611▼
2024 · €570,801
Income taxes
€2,430
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,448 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 96% are still going.

  • Small
  • 10 to 20 years old
  • solvency under 10%
  • a profit under 5% of the balance sheet
2.0% went bankrupt
2.1% stopped otherwise
96% still going

A further 0.3% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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 1,448 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet Code20242025
Assets
Total assets20/58€903,397€897,661▼
Fixed assets21/28€894,946€864,638▼
Tangible fixed assets22/27€894,946€864,638▼
Land and buildings22€894,946€864,638▼
Current assets29/58€8,451€33,023▲
Cash at bank and in hand54/58€8,451€6,343▼
Deferred charges and accrued income490/1-€26,680
Equity and liabilities
Total equity and liabilities10/49€903,397€897,661▼
Equity10/15€7,257€32,072▲
Contributions10/11€6,200€6,200=
Reserves13€1,860€1,860=
Non-distributable reserves130/1€1,860€1,860=
Reserves not available under the articles1311€1,860€1,860=
Profit (loss) carried forward14-€803€24,012▲
Amounts payable17/49€896,140€865,589▼
Amounts payable after more than one year17€570,801€507,611▼
Financial debts170/4€570,801€507,611▼
Amounts payable within one year42/48€313,134€344,871▲
Current portion of amounts payable after more than one year42€61,920€63,190▲
Trade debts44€70€0▼
Suppliers440/4€70€0▼
Taxes, remuneration and social security45-€2,430
Taxes450/3-€2,430
Other amounts payable47/48€251,145€279,250▲
Accrued charges and deferred income492/3€12,205€13,108▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30,308€30,308=
Other operating charges640/8€4,888€5,162▲
Gross operating margin9900€58,452€84,410▲
Operating profit (loss)9901€23,256€48,940▲
Financial charges65/66B€22,048€21,694▼
Recurring financial charges65€22,048€21,694▼
Profit (loss) for the period before taxes9903€1,209€27,246▲
Income taxes67/77-€2,430
Profit (loss) for the period9904€1,209€24,816▲
Profit (loss) for the period to be appropriated9905€1,209€24,816▲
Appropriation of the result
Profit (loss) to be appropriated9906-€803€24,012▲
Profit (loss) brought forward from the previous period14P-€2,012-€803▲

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23,355€46,070€30,308€30,308€30,308=
Other operating charges640/8€3,295€4,684€4,271€4,888€5,162▲ 5.6%
Gross operating margin9900€50,889€79,551€56,616€58,452€84,410▲ 44.4%
Operating profit (loss)9901€24,239€28,797€22,037€23,256€48,940▲ 110%
Financial charges65/66B€9,066€14,521€20,304€22,048€21,694▼ 1.6%
Recurring financial charges65€9,066€14,521€20,304€22,048€21,694▼ 1.6%
Profit (loss) for the period before taxes9903€15,174€14,275€1,734€1,209€27,246▲ 2,155%
Income taxes67/77----€2,430-
Profit (loss) for the period9904€15,174€14,275€1,734€1,209€24,816▲ 1,953%
Profit (loss) for the period to be appropriated9905€15,174€14,275€1,734€1,209€24,816▲ 1,953%
Line20212022202320242025Change
Assets
Total assets20/58€532,927€968,888€940,970€903,397€897,661▼ 0.6%
Fixed assets21/28€523,195€955,561€925,253€894,946€864,638▼ 3.4%
Tangible fixed assets22/27€523,195€955,561€925,253€894,946€864,638▼ 3.4%
Land and buildings22€523,195€955,561€925,253€894,946€864,638▼ 3.4%
Current assets29/58€9,732€13,327€15,717€8,451€33,023▲ 291%
Amounts receivable within one year40/41-€7,800€0---
Other amounts receivable41-€7,800€0---
Cash at bank and in hand54/58€1,932€5,527€15,717€8,451€6,343▼ 24.9%
Deferred charges and accrued income490/1€7,800€0--€26,680-
Equity and liabilities
Total equity and liabilities10/49€532,927€968,888€940,970€903,397€897,661▼ 0.6%
Equity10/15-€9,961€4,314€6,048€7,257€32,072▲ 342%
Contributions10/11€6,200€6,200€6,200€6,200€6,200=
Reserves13€1,860€1,860€1,860€1,860€1,860=
Non-distributable reserves130/1€1,860€1,860€1,860€1,860€1,860=
Reserves not available under the articles1311€1,860€1,860€1,860€1,860€1,860=
Profit (loss) carried forward14-€18,021-€3,746-€2,012-€803€24,012▲ 3,089%
Amounts payable17/49€542,888€964,574€934,922€896,140€865,589▼ 3.4%
Amounts payable after more than one year17€368,294€693,398€632,721€570,801€507,611▼ 11.1%
Financial debts170/4€368,294€693,398€632,721€570,801€507,611▼ 11.1%
Amounts payable within one year42/48€170,709€266,996€292,888€313,134€344,871▲ 10.1%
Current portion of amounts payable after more than one year42€36,953€59,462€60,677€61,920€63,190▲ 2.1%
Trade debts44€3,377€1,883€2,080€70€0▼ 100%
Suppliers440/4€3,377€1,883€2,080€70€0▼ 100%
Taxes, remuneration and social security45----€2,430-
Taxes450/3----€2,430-
Other amounts payable47/48€130,379€205,651€230,131€251,145€279,250▲ 11.2%
Accrued charges and deferred income492/3€3,885€4,180€9,314€12,205€13,108▲ 7.4%
Line20212022202320242025Change
Profit (loss) for the period9904€15,174€14,275€1,734€1,209€24,816▲ 1,953%
+ Depreciation and write-downs630€23,355€46,070€30,308€30,308€30,308=
Operating cash flow (approximation)€38,529€60,346€32,041€31,516€55,123▲ 74.9%
Investment in fixed assets (approximation)--€478,437€0€0€0-
Change in cash-€3,595€10,190-€7,265-€2,108▲ 71.0%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
28-08
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial Highest result since 2018net €24,816 ▲1,953%
Operating result €48,940, net result €24,816, both a record.
29-08
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
30-08
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
26-08
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
31-12
Financial Back to profitnet €15,174
Net result €15,174 after one loss-making year.
25-08
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
2020
31-12
Financial Weakest financial yearnet -€49,927
Net result drops to -€49,927, the lowest in the series; recovery starts the following year.
17-08
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 17 days late
2019
30-08
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-08
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
We have established no sitting directors for this company in the Gazette acts read. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Wetteren · 1 establishment unit since 2007
seat establishment The establishment unit on the map
Ground area
121 m²
Building footprint
120 m²
Volume, LiDAR
829 m³
Parcel 42303F0048/00Z004, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
IMMO VDG
Noordlaan 23, 9230 WetterenNACE 70120
since 20072.180.722.623
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
42303F0048/00Z004 Flanders 121 m² 1 · 120 m² 11.0 m · 3 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.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. The Factory 99.46%
  2. IMMO VDG

Highest known parent: The Factory. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Company details

Identification
Legal formPrivate limited company (pre-2019)
Founded25-06-2007
Fiscal year end31-12
Contact
E-mail info@markt17.beWetteren
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 1 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.