Summary
IMMO ZB is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.6m and a net result of €209,564. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 60% of 5651 sector peers (fiscal year 2025). The company has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals.
What stands out
Overview
Accounts filed 28 d late0 of 4 deeds readTurnover not published (abridged schema)Financial institution: outside the modelProbability: sector outside the model
SignalsFiled after the deadlineShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 filingsDeviation from the deadline
2025
28 d late
2024
40 d late
2023
19 d early
2022
55 d early
2021
11 d early
2020
30 d late
2019
31 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 3 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed 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 20 July (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Highest result since 2018net €209,564 ▲367%
- Annual accounts filedfiscal year 2024 · micro…
Financials
Fiscal year 2025Total assets €2.6mProfit €209,564Solvency 62.3%Liquidity 0.89
Total assets
€2.6m▲ 1.7%
2018 - 2025
Net result
€209,564▲ 367%
2018 - 2025
Equity
€1.6m▲ 10.1%
2018 - 2025
Solvency
62.3%▲ 4.8pp
2018 - 2025
Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 oldest company in Bruges, Finance and insurance sector
Source amounts without an identifiable currency are assumed to be EUR.
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.1m▲ 20.2%€0.2m▲ 45.3%€0.2m▲ 33.0%€0.1m▼ 40.3%€0.3m▲ 122%
Net result€0.08mabove the sector's middle half€0.1mabove the sector's middle half▲ 25.5%€0.1mabove the sector's middle half▲ 22.4%€0.04mwithin the sector's middle half▼ 63.7%€0.2mabove the sector's middle half▲ 367%
Equity€1.3mabove the sector's middle half▲ 3.4%€1.4mabove the sector's middle half▲ 4.9%€1.4mabove the sector's middle half▲ 6.3%€1.5mabove the sector's middle half▲ 2.2%€1.6mwithin the sector's middle half▲ 10.1%
Total assets€2.7mabove the sector's middle half▼ 4.7%€2.8mabove the sector's middle half▲ 0.8%€2.8mabove the sector's middle half▲ 1.5%€2.6mabove the sector's middle half▼ 8.3%€2.6mwithin the sector's middle half▲ 1.7%
Debt€1.4m▼ 12.6%€1.4m▼ 2.8%€1.4m▼ 3.1%€1.1m▼ 19.6%€1.0m▼ 9.7%
Working capital-€0.2mbelow the sector's middle half▲ 9.5%-€0.3mbelow the sector's middle half▼ 25.7%-€0.3mbelow the sector's middle half▼ 5.6%-€0.1mbelow the sector's middle half▲ 58.7%-€0.04mwithin the sector's middle half▲ 67.7%
Solvency47.4%within the sector's middle half▲ 3.7pp49.3%within the sector's middle half▲ 1.9pp51.6%within the sector's middle half▲ 2.3pp57.5%within the sector's middle half▲ 5.9pp62.3%within the sector's middle half▲ 4.8pp
Current ratio0.38below the sector's middle half=0.29below the sector's middle half▼ 0.090.38below the sector's middle half▲ 0.090.47below the sector's middle half▲ 0.090.89within the sector's middle half▲ 0.41
Return on assets (ROA)2.9%within the sector's middle half▲ 7.1pp3.7%within the sector's middle half▲ 0.7pp4.4%within the sector's middle half▲ 0.8pp1.7%within the sector's middle half▼ 2.7pp8.0%within the sector's middle half▲ 6.3pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2025 Net result +367% on 2024. The accounts now follow the abbreviated schema, last year the micro schema.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 122% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.3m ▼ 6.4%
Current assets
€308,766 ▲ 184%
Equity and liabilities €2.6m
Equity
€1.6m ▲ 10.1%
Debt
€986,289 ▼ 9.7%
Debt's share of the balance-sheet total falls from 42.5% to 37.7%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
ROE
12.9%▲
2024 · 3.0%
Debt ≤ 1 year
€347,802▲
2024 · €229,382
Debt > 1 year
€586,883▼
2024 · €761,673
Income taxes
€22,468▲
2024 · €20,911
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €258,330 | €248,773 | €246,997 | €266,684 | €275,004 | ▲ 3.1% |
| Other operating charges640/8 | €45,923 | €49,829 | €50,445 | €52,435 | €54,661 | ▲ 4.2% |
| Gross operating margin9900 | €413,089 | €456,786 | €507,895 | €444,781 | €609,010 | ▲ 36.9% |
| Operating profit (loss)9901 | €108,836 | €158,184 | €210,453 | €125,662 | €279,345 | ▲ 122% |
| Financial income75/76B | €39 | €145 | €5 | €1,102 | €0 | ▼ 100% |
| Recurring financial income75 | €39 | €145 | €5 | €1,102 | €0 | ▼ 100% |
| Financial charges65/66B | €28,314 | €35,240 | €49,217 | €60,948 | €47,313 | ▼ 22.4% |
| Recurring financial charges65 | €28,314 | €35,240 | €49,217 | €60,948 | €47,313 | ▼ 22.4% |
| Profit (loss) for the period before taxes9903 | €80,561 | €123,089 | €161,241 | €65,816 | €232,032 | ▲ 253% |
| Income taxes67/77 | - | €21,989 | €37,510 | €20,911 | €22,468 | ▲ 7.4% |
| Profit (loss) for the period9904 | €80,561 | €101,100 | €123,731 | €44,906 | €209,564 | ▲ 367% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €4,970 | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €164,803 | - |
| Profit (loss) for the period to be appropriated9905 | €80,561 | €101,100 | €123,731 | €44,906 | €49,731 | ▲ 10.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.8m | €2.8m | €2.6m | €2.6m | ▲ 1.7% |
| Fixed assets21/28 | €2.6m | €2.7m | €2.6m | €2.5m | €2.3m | ▼ 6.4% |
| Tangible fixed assets22/27 | €2.6m | €2.6m | €2.6m | €2.5m | €2.3m | ▼ 6.4% |
| Land and buildings22 | €2.6m | €2.6m | €2.6m | €2.4m | €2.3m | ▼ 5.7% |
| Furniture and vehicles24 | €0.001m | €0.09m | €0.07m | €0.06m | €0.04m | ▼ 32.0% |
| Financial fixed assets28 | - | €0.003m | - | - | - | - |
| Current assets29/58 | €0.1m | €0.1m | €0.2m | €0.1m | €0.3m | ▲ 184% |
| Amounts receivable within one year40/41 | €0.01m | €0.01m | €0.03m | €0.02m | €0.03m | ▲ 30.0% |
| Trade receivables40 | €0.01m | €0.01m | €0.03m | €0.01m | €0.01m | ▲ 32.0% |
| Other amounts receivable41 | - | - | €4 | €0.009m | €0.01m | ▲ 27.7% |
| Cash at bank and in hand54/58 | €0.1m | €0.07m | €0.2m | €0.09m | €0.3m | ▲ 217% |
| Deferred charges and accrued income490/1 | €0.001m | €0.03m | €0.001m | €0.002m | €0.007m | ▲ 273% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.8m | €2.8m | €2.6m | €2.6m | ▲ 1.7% |
| Equity10/15 | €1.3m | €1.4m | €1.4m | €1.5m | €1.6m | ▲ 10.1% |
| Contributions10/11 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Capital10 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Issued capital100 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Reserves13 | €1.2m | €1.3m | €1.4m | €1.4m | €1.6m | ▲ 10.7% |
| Non-distributable reserves130/1 | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Legal reserve130 | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Tax-exempt reserves132 | €0.02m | €0.02m | €0.02m | €0.02m | €0.2m | ▲ 807% |
| Distributable reserves133 | €1.2m | €1.3m | €1.3m | €1.4m | €1.4m | ▼ 0.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €1.4m | €1.4m | €1.4m | €1.1m | €1.0m | ▼ 9.7% |
| Amounts payable after more than one year17 | €1.1m | €1.0m | €0.8m | €0.8m | €0.6m | ▼ 22.9% |
| Financial debts170/4 | €0.5m | €0.4m | €0.2m | €0.2m | €0 | ▼ 100% |
| Other amounts payable178/9 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.5m | €0.2m | €0.3m | ▲ 51.6% |
| Current portion of amounts payable after more than one year42 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 1.5% |
| Trade debts44 | €0.002m | €0.004m | €0.02m | €0.005m | €0.09m | ▲ 1,600% |
| Suppliers440/4 | €0.002m | €0.004m | €0.02m | €0.005m | €0.09m | ▲ 1,600% |
| Taxes, remuneration and social security45 | €0.009m | €0.03m | €0.04m | €0.007m | €0.01m | ▲ 57.0% |
| Taxes450/3 | €0.009m | €0.03m | €0.04m | €0.007m | €0.01m | ▲ 57.0% |
| Other amounts payable47/48 | €0.2m | €0.2m | €0.3m | €0.04m | €0.07m | ▲ 59.2% |
| Accrued charges and deferred income492/3 | €0.009m | €0.06m | €0.05m | €0.1m | €0.05m | ▼ 49.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €80,561 | €101,100 | €123,731 | €44,906 | €209,564 | ▲ 367% |
| + Depreciation and write-downs630 | €258,330 | €248,773 | €246,997 | €266,684 | €275,004 | ▲ 3.1% |
| Operating cash flow (approximation) | €338,891 | €349,873 | €370,728 | €311,590 | €484,568 | ▲ 55.5% |
| Investment in fixed assets (approximation) | - | -€295,326 | -€221,950 | -€103,052 | -€118,443 | ▼ 14.9% |
| Change in cash | - | -€49,206 | €77,608 | -€64,053 | €189,033 | ▲ 395% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 24,721 companies in this sector we hold annual accounts for 19,804. 11,526 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
12 eventsLatest 28-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €209,564 ▲367%
Operating result €279,345, net result €209,564, both a record.
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 40 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €80,561
Net result €80,561 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
07-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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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Support & recognitions
1 funding sourceFlanders €38,059
Flemish government
€38,059
awarded · 2022 - 2023
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €38,059 awarded · €38,059 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | €0 | €38,059 |
| 2022 | 1 | €38,059 | €0 |
Schemes
Company details
Public limited company · founded 01-03-1968Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPublic limited company
Founded01-03-1968
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0406232040
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 1968
Ground area
4,849 m²
Building footprint
2,585 m²
Volume, LiDAR
15,851 m³
2 parcels, Flanders · tallest building 15.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IMMO Z.B. NV
since 1968unit no. 2.001.994.084
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31808K0684/00S002 | Flanders | 4,132 m² | 1 · 2,384 m² | 15.2 m · 2 fl. |
| 31029C0193/00W003 | Flanders | 717 m² | 1 · 201 m² | - |
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.
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