Immobra
ActiveSummary
Immobra has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.3m and a net result of -€145,684. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 51% of 663 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-47
Solvency65▼-4
Growth55▼-16
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 1.17 in 2024; short-term debt: 59.9% and cash: 1.8% of total assets), and 60.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more 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
39.7%
Return on assets
-0.6%
Age of the figures
10 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 14-05-2026, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
47 d early
2024
17 d late
2023
55 d early
2022
91 d early
2020
22 d early
2019
11 d early
2018
23 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 33 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today. Usually files around 11 May (3 of the last 4 filed years within 41 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-11-2026 close30-06-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, full schema
In the rankings
#9 oldest company in Wielsbeke, Manufacturing sector
Turnover
€26.9m▲ 8.0%
2024 · €24.9m
EBIT margin
-0.7%▼ 6.6pp
2024 · 5.9%
Net result
-€145,684
2024 · €1.1m
Working capital
€746,088▼ 66.5%
2024 · €2.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Turnover€18.3m▲ 2.0%€50.6m-€23.8m▼ 52.9%€24.9m▲ 4.6%€26.9m▲ 8.0%
Operating result€1.1m▲ 159%€2.1m-€1.1m▼ 47.0%€1.5m▲ 34.4%-€183,360
Net result€816,451above the sector's middle half▲ 204%€1.5mabove the sector's middle half-€5.2mabove the sector's middle half▲ 248%€1.1mabove the sector's middle half▼ 79.6%-€145,684below the sector's middle half
EBIT margin6.3%▲ 3.8pp4.1%-4.6%▲ 0.5pp5.9%▲ 1.3pp-0.7%▼ 6.6pp
Equity€9.4mabove the sector's middle half▲ 9.5%€9.4mabove the sector's middle half-€9.4mabove the sector's middle half=€10.5mabove the sector's middle half▲ 11.1%€10.3mabove the sector's middle half▼ 1.4%
Total assets€15.5mwithin the sector's middle half▼ 1.9%€19.6mwithin the sector's middle half-€21.4mabove the sector's middle half▲ 9.3%€24.0mabove the sector's middle half▲ 12.3%€26.0mabove the sector's middle half▲ 8.2%
Debt€6.0m▼ 15.6%€10.2m-€12.0m▲ 17.9%€13.5m▲ 13.2%€15.7m▲ 15.7%
Working capital€1.7mwithin the sector's middle half▲ 115%€1.8mwithin the sector's middle half-€1.2mwithin the sector's middle half▼ 31.5%€2.2mwithin the sector's middle half▲ 80.8%€746,088within the sector's middle half▼ 66.5%
Solvency61.0%above the sector's middle half▲ 6.3pp48.2%within the sector's middle half-44.1%within the sector's middle half▼ 4.1pp43.6%within the sector's middle half▼ 0.4pp39.7%within the sector's middle half▼ 3.9pp
Current ratio1.28within the sector's middle half▲ 0.171.18within the sector's middle half-1.10within the sector's middle half▼ 0.071.17within the sector's middle half▲ 0.061.05within the sector's middle half▼ 0.12
Return on assets (ROA)5.3%within the sector's middle half▲ 3.6pp7.6%within the sector's middle half-24.1%above the sector's middle half▲ 16.5pp4.4%within the sector's middle half▼ 19.7pp-0.6%below the sector's middle half▼ 4.9pp
Staff (FTE)7.9below the sector's middle half▲ 2.6%7.9below the sector's middle half-7.9below the sector's middle half=7.9below the sector's middle half=7.5below the sector's middle half▼ 5.1%
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Turnover -53%, Net result +248% on 2022. The previous fiscal year ran 23 months, this one 12.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €183,360 after €1.5m in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26.0m
Fixed assets
€9.7m ▲ 15.9%
Current assets
€16.3m ▲ 4.2%
Equity and liabilities €26.0m
Equity
€10.3m ▼ 1.4%
Debt
€15.7m ▲ 15.7%
Debt's share of the balance-sheet total rises from 56.4% to 60.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€76,733▼
2024 · €1.6m
Cash flow
-€39,056▼
2024 · €1.1m
Quick ratio
0.78▼
2024 · 0.93
Debt to equity
1.52▲
2024 · 1.29
ROE
-1.4%▼
2024 · 10.0%
Interest coverage
-0.87▼
2024 · 16.68
Debt ≤ 1 year
€15.6m▲
2024 · €13.5m
Income taxes
€165▼
2024 · €350,826
Staff costs
€542,811▲
2024 · €517,551
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,338 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% | 1.9% |
| 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 12,321 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 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €53.4m | €22.3m | €26.5m | €28.2m | ▲ 6.5% |
| Turnover70 | €18.3m | €50.6m | €23.8m | €24.9m | €26.9m | ▲ 8.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | €2.4m | -€1.8m | €1.2m | €967,365 | ▼ 17.5% |
| Other operating income74 | - | €466,814 | €243,100 | €361,375 | €302,515 | ▼ 16.3% |
| Non-recurring operating income76A | - | €0 | - | - | - | - |
| Operating charges60/66A | - | €51.4m | €21.2m | €25.0m | €28.4m | ▲ 13.6% |
| Goods for resale, raw materials and consumables60 | - | €46.9m | €18.9m | €22.6m | €25.4m | ▲ 12.3% |
| Purchases600/8 | - | €46.9m | €18.9m | €22.6m | €25.4m | ▲ 12.3% |
| Services and other goods61 | - | €3.4m | €1.6m | €1.7m | €2.2m | ▲ 34.3% |
| Remuneration, social security and pensions62 | - | €774,693 | €509,621 | €517,551 | €542,811 | ▲ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €94,269 | €93,227 | €68,041 | €86,121 | €106,627 | ▲ 23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0 | - | - | - | - |
| Other operating charges640/8 | - | €191,161 | €104,523 | €106,895 | €111,610 | ▲ 4.4% |
| Operating profit (loss)9901 | €1.1m | €2.1m | €1.1m | €1.5m | -€183,360 | ▼ 112% |
| Financial income75/76B | - | €1,784 | €4.4m | €18,510 | €127,436 | ▲ 588% |
| Recurring financial income75 | €509 | €1,784 | €4.4m | €18,510 | €127,436 | ▲ 588% |
| Income from financial fixed assets750 | - | - | €4.4m | €0 | - | - |
| Income from current assets751 | - | - | €22,803 | €17,798 | €127,436 | ▲ 616% |
| Other financial income752/9 | - | €1,784 | €2 | €712 | €0 | ▼ 99.9% |
| Financial charges65/66B | - | €96,668 | €68,158 | €95,531 | €89,596 | ▼ 6.2% |
| Recurring financial charges65 | €50,056 | €96,668 | €68,158 | €95,531 | €89,596 | ▼ 6.2% |
| Debt charges650 | €48,886 | €93,954 | €66,698 | €93,819 | €88,326 | ▼ 5.9% |
| Other financial charges652/9 | - | €2,714 | €1,460 | €1,712 | €1,270 | ▼ 25.8% |
| Profit (loss) for the period before taxes9903 | €1.1m | €2.0m | €5.4m | €1.4m | -€145,519 | ▼ 110% |
| Transfer from deferred taxes780 | - | €0 | - | - | - | - |
| Income taxes67/77 | €283,730 | €500,060 | €264,159 | €350,826 | €165 | ▼ 100.0% |
| Taxes670/3 | - | €500,060 | €264,159 | €350,826 | €165 | ▼ 100.0% |
| Profit (loss) for the period9904 | €816,451 | €1.5m | €5.2m | €1.1m | -€145,684 | ▼ 114% |
| Transfer from tax-exempt reserves789 | - | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €817,904 | €1.5m | €5.2m | €1.1m | -€145,684 | ▼ 114% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.5m | €19.6m | €21.4m | €24.0m | €26.0m | ▲ 8.2% |
| Fixed assets21/28 | €7.8m | €7.7m | €8.2m | €8.3m | €9.7m | ▲ 15.9% |
| Tangible fixed assets22/27 | €1.8m | €1.7m | €2.3m | €2.4m | €2.4m | ▼ 1.3% |
| Land and buildings22 | - | €1.7m | €1.9m | €1.9m | €1.8m | ▼ 1.9% |
| Plant, machinery and equipment23 | - | €3,053 | €380,337 | €520,939 | €463,646 | ▼ 11.0% |
| Furniture and vehicles24 | - | €11,995 | €9,141 | €6,489 | €68,684 | ▲ 958% |
| Financial fixed assets28 | €6.0m | €6.0m | €6.0m | €6.0m | €7.3m | ▲ 22.8% |
| Affiliated companies280/1 | - | €6.0m | €6.0m | €6.0m | €7.3m | ▲ 22.8% |
| Participating interests280 | - | €6.0m | €6.0m | €6.0m | €7.3m | ▲ 22.8% |
| Other financial fixed assets284/8 | - | - | €248 | €248 | €0 | ▼ 100% |
| Amounts receivable and cash guarantees285/8 | - | - | €248 | €248 | €0 | ▼ 100% |
| Current assets29/58 | €7.7m | €11.9m | €13.2m | €15.7m | €16.3m | ▲ 4.2% |
| Stocks and contracts in progress3 | €1.4m | €3.8m | €2.1m | €3.2m | €4.2m | ▲ 29.9% |
| Stocks30/36 | - | €3.8m | €2.1m | €3.2m | €4.2m | ▲ 29.9% |
| Finished goods33 | - | €3.8m | €2.1m | €3.2m | €4.2m | ▲ 29.9% |
| Amounts receivable within one year40/41 | €5.5m | €6.8m | €9.5m | €11.3m | €11.5m | ▲ 2.5% |
| Trade receivables40 | - | €3.6m | €3.0m | €4.9m | €5.1m | ▲ 4.1% |
| Other amounts receivable41 | - | €3.2m | €6.4m | €6.4m | €6.5m | ▲ 1.2% |
| Current investments50/53 | - | €1 | €501,633 | €1,633 | €1,633 | = |
| Other investments51/53 | - | €1 | €501,633 | €1,633 | €1,633 | = |
| Cash at bank and in hand54/58 | €737,577 | €1.3m | €1.1m | €1.2m | €458,348 | ▼ 61.0% |
| Deferred charges and accrued income490/1 | - | €8,264 | €9,320 | €9,988 | €133,122 | ▲ 1,233% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.5m | €19.6m | €21.4m | €24.0m | €26.0m | ▲ 8.2% |
| Equity10/15 | €9.4m | €9.4m | €9.4m | €10.5m | €10.3m | ▼ 1.4% |
| Contributions10/11 | €2.5m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Capital10 | - | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Issued capital100 | - | €2.5m | €2.5m | €2.5m | €2.5m | = |
| Outside capital11 | - | €136,341 | €136,341 | €136,341 | €136,341 | = |
| Share premium1100/10 | - | €136,341 | €136,341 | €136,341 | €136,341 | = |
| Reserves13 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Non-distributable reserves130/1 | - | €252,933 | €252,933 | €252,933 | €252,933 | = |
| Legal reserve130 | - | €248,368 | €248,368 | €248,368 | €248,368 | = |
| Own shares acquired1312 | - | €4,566 | €4,566 | €4,566 | €4,566 | = |
| Tax-exempt reserves132 | - | €230,943 | €230,943 | €230,943 | €230,943 | = |
| Distributable reserves133 | - | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Profit (loss) carried forward14 | €4.8m | €4.8m | €4.8m | €5.9m | €5.8m | ▼ 2.5% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €6.0m | €10.2m | €12.0m | €13.5m | €15.7m | ▲ 15.7% |
| Amounts payable within one year42/48 | €6.0m | €10.1m | €11.9m | €13.5m | €15.6m | ▲ 15.9% |
| Trade debts44 | €4.6m | €7.3m | €5.2m | €7.9m | €9.9m | ▲ 26.3% |
| Suppliers440/4 | - | €7.3m | €5.2m | €7.9m | €9.9m | ▲ 26.3% |
| Taxes, remuneration and social security45 | - | €152,772 | €127,833 | €116,169 | €111,776 | ▼ 3.8% |
| Taxes450/3 | - | €83,444 | €25,484 | €6,692 | €2,870 | ▼ 57.1% |
| Remuneration and social security454/9 | - | €69,328 | €102,349 | €109,477 | €108,906 | ▼ 0.5% |
| Other amounts payable47/48 | - | €2.7m | €6.6m | €5.5m | €5.5m | ▲ 1.2% |
| Accrued charges and deferred income492/3 | - | €66,251 | €47,567 | €94,173 | €89,240 | ▼ 5.2% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €816,451 | €1.5m | €5.2m | €1.1m | -€145,684 | ▼ 114% |
| + Depreciation and write-downs630 | €94,269 | €93,227 | €68,041 | €86,121 | €106,627 | ▲ 23.8% |
| Operating cash flow (approximation) | €910,720 | €1.6m | €5.2m | €1.1m | -€39,056 | ▼ 103% |
| Investment in fixed assets (approximation) | - | - | -€615,508 | -€188,677 | -€1.4m | ▼ 661% |
| Change in cash | - | - | -€152,725 | €42,830 | -€717,507 | ▼ 1,775% |
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
14-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-11
Financial
Weakest financial yearnet -€145,684
Net result drops to -€145,684, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 17 days late
2024
30-11
Financial
Equity above €10mEq €10.5m ▲11.1%
6 profitable years in a row build equity to €10.5m.
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-11
Financial
Highest result since 2018net €5.2m ▲248%
Net result €5.2m, the highest in the series.
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Wielsbeke · 1 establishment unit since 1982
Ground area
2.8 ha
Building footprint
6,853 m²
Volume, LiDAR
49,651 m³
Parcel 37009A0434/00P000, Flanders · tallest building 53.0 m. Linked by address, not a title deed.
1 establishment unit
IMMOBRA
since 19822.021.324.008
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37009A0434/00P000 | Flanders | 2.8 ha | 1 · 6,853 m² | 53.0 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.
Structure & network
Owners and holdings
1 owner · 2 holdingsChain of control
- BRAREM
- Immobra
Highest known parent: BRAREM. The sources do not say who stands above it.
Owners 1
- BRAREMparent99.99%
Holdings 2
-
100%
-
99.97%
According to the annual accounts to 30-11-2025 of Immobra and those 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteWielsbeke2.021.324.008
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Of 50 companies in sector 10410 we hold annual accounts for 35. 17 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
Founded29-09-1982
Fiscal year end30-11
Activities, NACEBEL 2025
10410Manufacture of food products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0423227232
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.