IMMOBELGAR
ActiveSummary
IMMOBELGAR has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€74,737) and a net result of -€8,297. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▲+23
Solvency0=
Growth22▼-30
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.68 against 0.67 in 2024; short-term debt: 127.6% and cash: 0.6% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-31%
Return on assets
-3.4%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€74,737
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
6 d early
2023
2 d late
2022
14 d early
2021
31 d late
2020
31 d late
2019
101 d late
← 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 20 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 29 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€345,482▼ 33.5%
2024 · €519,278
EBIT margin
-2.2%▲ 10.2pp
2024 · -12.4%
Net result
-€8,297▲ 88.3%
2024 · -€71,079
Working capital
-€97,148▼ 12.2%
2024 · -€86,586
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 43, Specialised construction activities, 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€441,590€519,278▲ 17.6%€345,482▼ 33.5%
Operating result€3,621▲ 83.4%-€7,520-€3,517▲ 53.2%-€64,277▼ 1,728%-€7,583▲ 88.2%
Net result-€1,523below the sector's middle half▲ 37.7%-€9,405below the sector's middle half▼ 518%-€4,845below the sector's middle half▲ 48.5%-€71,079below the sector's middle half▼ 1,367%-€8,297below the sector's middle half▲ 88.3%
EBIT margin-0.8%-12.4%▼ 11.6pp-2.2%▲ 10.2pp
Equity€18,889below the sector's middle half▼ 7.5%€9,484below the sector's middle half▼ 49.8%€4,639below the sector's middle half▼ 51.1%-€66,440below the sector's middle half-€74,737below the sector's middle half▼ 12.5%
Total assets€140,651within the sector's middle half▼ 2.6%€155,200within the sector's middle half▲ 10.3%€116,943within the sector's middle half▼ 24.6%€211,133within the sector's middle half▲ 80.5%€241,089within the sector's middle half▲ 14.2%
Debt€121,762▼ 1.8%€145,716▲ 19.7%€112,305▼ 22.9%€277,573▲ 147%€315,826▲ 13.8%
Working capital€1,909below the sector's middle half-€2,763below the sector's middle half-€7,370below the sector's middle half▼ 167%-€86,586below the sector's middle half▼ 1,075%-€97,148below the sector's middle half▼ 12.2%
Solvency13.4%below the sector's middle half▼ 0.7pp6.1%below the sector's middle half▼ 7.3pp4.0%below the sector's middle half▼ 2.1pp-31.5%below the sector's middle half▼ 35.4pp-31.0%below the sector's middle half▲ 0.5pp
Current ratio1.02below the sector's middle half▲ 0.030.98below the sector's middle half▼ 0.030.93below the sector's middle half▼ 0.050.67below the sector's middle half▼ 0.260.68below the sector's middle half▲ 0.01
Return on assets (ROA)-1.1%below the sector's middle half▲ 0.6pp-6.1%below the sector's middle half▼ 5.0pp-4.1%below the sector's middle half▲ 1.9pp-33.7%below the sector's middle half▼ 29.5pp-3.4%below the sector's middle half▲ 30.2pp
Staff (FTE)2.52.4▼ 4.0%2.3▼ 4.2%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,583 in 2025 against €64,277 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €241,089
Fixed assets
€30,546 ▼ 12.6%
Current assets
€210,543 ▲ 19.5%
Key figures and ratios
EBITDA
€3,127▲
2024 · -€54,065
Cash flow
€2,413▲
2024 · -€60,867
Debt to equity
-4.23▼
2024 · -4.18
Interest coverage
1.08▲
2024 · -24.01
Debt ≤ 1 year
€307,691▲
2024 · €262,750
Debt > 1 year
€8,134▼
2024 · €14,823
Income taxes
-€2,186▼
2024 · €4,881
Staff costs
€79,330▼
2024 · €111,966
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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 2,332 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €441,590 | €519,278 | €345,482 | ▼ 33.5% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €406,082 | €416,485 | €296,710 | ▼ 28.8% |
| Remuneration, social security and pensions62 | €73,687 | €96,250 | €77,769 | €111,966 | €79,330 | ▼ 29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,874 | €12,851 | €5,186 | €10,212 | €10,710 | ▲ 4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €629 | €1,065 | ▲ 69.3% |
| Other operating charges640/8 | €5,748 | €1,743 | €2,315 | €61,556 | €2,165 | ▼ 96.5% |
| Gross operating margin9900 | €97,929 | €103,323 | €81,753 | €120,085 | €85,685 | ▼ 28.6% |
| Operating profit (loss)9901 | €3,621 | -€7,520 | -€3,517 | -€64,277 | -€7,583 | ▲ 88.2% |
| Financial income75/76B | - | €164 | €427 | €331 | €0 | ▼ 100% |
| Recurring financial income75 | - | €164 | €427 | €331 | €0 | ▼ 100% |
| Financial charges65/66B | €726 | €905 | €1,218 | €2,251 | €2,900 | ▲ 28.8% |
| Recurring financial charges65 | €726 | €905 | €1,218 | €2,251 | €2,900 | ▲ 28.8% |
| Profit (loss) for the period before taxes9903 | €2,895 | -€8,261 | -€4,308 | -€66,198 | -€10,483 | ▲ 84.2% |
| Income taxes67/77 | €4,418 | €1,144 | €537 | €4,881 | -€2,186 | ▼ 145% |
| Profit (loss) for the period9904 | -€1,523 | -€9,405 | -€4,845 | -€71,079 | -€8,297 | ▲ 88.3% |
| Profit (loss) for the period to be appropriated9905 | -€1,523 | -€9,405 | -€4,845 | -€71,079 | -€8,297 | ▲ 88.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,651 | €155,200 | €116,943 | €211,133 | €241,089 | ▲ 14.2% |
| Formation expenses20 | - | - | €0 | €0 | €0 | - |
| Fixed assets21/28 | €16,980 | €12,247 | €12,009 | €34,969 | €30,546 | ▼ 12.6% |
| Intangible fixed assets21 | €5 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €13,994 | €8,513 | €6,205 | €33,517 | €25,292 | ▼ 24.5% |
| Land and buildings22 | - | - | €0 | €0 | - | - |
| Plant, machinery and equipment23 | €434 | €1,582 | €2,481 | €2,180 | €1,050 | ▼ 51.8% |
| Furniture and vehicles24 | €13,560 | €6,931 | €3,723 | €31,337 | €24,242 | ▼ 22.6% |
| Financial fixed assets28 | €2,981 | €3,733 | €5,804 | €1,452 | €5,254 | ▲ 262% |
| Current assets29/58 | €123,671 | €142,953 | €104,935 | €176,164 | €210,543 | ▲ 19.5% |
| Amounts receivable within one year40/41 | €118,475 | €139,016 | €98,699 | €172,934 | €206,688 | ▲ 19.5% |
| Trade receivables40 | €100,011 | €110,457 | €65,202 | €154,447 | €184,600 | ▲ 19.5% |
| Other amounts receivable41 | €18,464 | €28,559 | €33,497 | €18,487 | €22,088 | ▲ 19.5% |
| Cash at bank and in hand54/58 | €5,196 | €3,937 | €6,236 | €3,230 | €1,510 | ▼ 53.3% |
| Deferred charges and accrued income490/1 | €0 | €0 | €0 | €0 | €2,345 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,651 | €155,200 | €116,943 | €211,133 | €241,089 | ▲ 14.2% |
| Equity10/15 | €18,889 | €9,484 | €4,639 | -€66,440 | -€74,737 | ▼ 12.5% |
| Contributions10/11 | €6,300 | €6,300 | €6,300 | €6,300 | €6,300 | = |
| 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 | €10,729 | €1,324 | -€3,521 | -€74,600 | -€82,897 | ▼ 11.1% |
| Amounts payable17/49 | €121,762 | €145,716 | €112,305 | €277,573 | €315,826 | ▲ 13.8% |
| Amounts payable after more than one year17 | - | - | - | €14,823 | €8,134 | ▼ 45.1% |
| Financial debts170/4 | - | - | - | €14,823 | €8,134 | ▼ 45.1% |
| Amounts payable within one year42/48 | €121,762 | €145,716 | €112,305 | €262,750 | €307,691 | ▲ 17.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,437 | €6,688 | ▲ 3.9% |
| Trade debts44 | €34,102 | €29,992 | €37,430 | €76,659 | €50,238 | ▼ 34.5% |
| Suppliers440/4 | €34,102 | €29,992 | €37,430 | €76,659 | €50,238 | ▼ 34.5% |
| Advances received on contracts in progress46 | - | - | - | €100,000 | €194,340 | ▲ 94.3% |
| Taxes, remuneration and social security45 | €13,673 | €41,605 | €16,153 | €30,863 | €21,392 | ▼ 30.7% |
| Taxes450/3 | €8,095 | €24,864 | €5,719 | €12,855 | €7,804 | ▼ 39.3% |
| Remuneration and social security454/9 | €5,578 | €16,741 | €10,434 | €18,008 | €13,587 | ▼ 24.5% |
| Other amounts payable47/48 | €73,987 | €74,119 | €58,722 | €48,791 | €35,033 | ▼ 28.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,523 | -€9,405 | -€4,845 | -€71,079 | -€8,297 | ▲ 88.3% |
| + Depreciation and write-downs630 | €14,874 | €12,851 | €5,186 | €10,212 | €10,710 | ▲ 4.9% |
| Operating cash flow (approximation) | €13,351 | €3,446 | €341 | -€60,867 | €2,413 | ▲ 104% |
| Investment in fixed assets (approximation) | - | -€8,118 | -€4,948 | -€33,172 | -€6,287 | ▲ 81.0% |
| Change in cash | - | -€1,259 | €2,299 | -€3,006 | -€1,720 | ▲ 42.8% |
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
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€71,079
Net result drops to -€71,079, the lowest in the series; recovery starts the following year.
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
17-07
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
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
23-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 115 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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, Liège · 1 establishment unit since 2009
Ground area
325 m²
Building footprint
93 m²
Volume, LiDAR
1,200 m³
Parcel 62805B0461/00M015, Wallonia · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
IMMOBELGAR
since 20092.220.469.659
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62805B0461/00M015 | Wallonia | 325 m² | 1 · 93 m² | 14.6 m · 4 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 9,531 companies in sector 43222 we hold annual accounts for 5,665. 1,505 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
Founded16-02-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809838449
Also
9925:BE0809838449
Registered
11-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.