IMMOCAP
ActiveSummary
IMMOCAP has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €20,832 and a net result of €6,229. Equity is growing by ~49.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-11
Solvency35▲+3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.52 against 0.49 in 2024; short-term debt: 87.6% and cash: 38.5% of total assets), and 90.1% 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
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
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
9.9%
Return on assets
3%
Age of the figures
9 mo
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
26 d late
2023
20 d early
2022
19 d early
2021
46 d early
2020
57 d early
2019
45 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 10 days before 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 12 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€20,832▲ 42.7%
2024 · €14,603
Total assets
€210,896▲ 6.3%
2024 · €198,430
Net result
€6,229▼ 73.0%
2024 · €23,080
Working capital
-€89,390▼ 8.9%
2024 · -€82,111
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€26,375▲ 62.5%€6,675▼ 74.7%€19,540▲ 193%€24,325▲ 24.5%€6,709▼ 72.4%
Net result€23,123▲ 88.7%€3,581▼ 84.5%€18,042▲ 404%€23,080▲ 27.9%€6,229▼ 73.0%
Equity-€30,101▲ 43.4%-€26,520▲ 11.9%-€8,477▲ 68.0%€14,603€20,832▲ 42.7%
Total assets€140,594▲ 0.4%€168,718▲ 20.0%€180,265▲ 6.8%€198,430▲ 10.1%€210,896▲ 6.3%
Debt€170,694▼ 11.7%€195,238▲ 14.4%€188,743▼ 3.3%€183,827▼ 2.6%€190,065▲ 3.4%
Working capital-€86,755▲ 20.5%-€140,915▼ 62.4%-€118,138▲ 16.2%-€82,111▲ 30.5%-€89,390▼ 8.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 72% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €210,896
Fixed assets
€115,488 ▼ 2.2%
Current assets
€95,408 ▲ 18.8%
Equity and liabilities €210,896
Equity
€20,832 ▲ 42.7%
Debt
€190,065 ▲ 3.4%
Debt's share of the balance-sheet total falls from 92.6% to 90.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27,221▼
2024 · €43,777
Cash flow
€26,741▼
2024 · €42,532
Current ratio
0.52▲
2024 · 0.49
Debt to equity
9.12▼
2024 · 12.59
ROE
29.9%▼
2024 · 158.1%
ROA
3.0%▼
2024 · 11.6%
Interest coverage
26.42▼
2024 · 35.07
Debt ≤ 1 year
€184,798▲
2024 · €162,451
Debt > 1 year
€5,267▼
2024 · €12,043
Income taxes
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
still going
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 497,338 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 1,082 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,716 | €17,030 | €19,131 | €19,452 | €20,512 | ▲ 5.4% |
| Other operating charges640/8 | €2,167 | €2,211 | €2,042 | €2,906 | €4,207 | ▲ 44.7% |
| Gross operating margin9900 | €43,257 | €25,916 | €40,713 | €46,683 | €31,428 | ▼ 32.7% |
| Operating profit (loss)9901 | €26,375 | €6,675 | €19,540 | €24,325 | €6,709 | ▼ 72.4% |
| Financial income75/76B | - | - | €0 | €3 | €551 | ▲ 16,096% |
| Recurring financial income75 | - | - | €0 | €3 | €551 | ▲ 16,096% |
| Financial charges65/66B | €3,252 | €3,093 | €1,498 | €1,248 | €1,030 | ▼ 17.4% |
| Recurring financial charges65 | €3,252 | €3,093 | €1,498 | €1,248 | €1,030 | ▼ 17.4% |
| Profit (loss) for the period before taxes9903 | €23,123 | €3,581 | €18,042 | €23,080 | €6,229 | ▼ 73.0% |
| Income taxes67/77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | €23,123 | €3,581 | €18,042 | €23,080 | €6,229 | ▼ 73.0% |
| Profit (loss) for the period to be appropriated9905 | €23,123 | €3,581 | €18,042 | €23,080 | €6,229 | ▼ 73.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,594 | €168,718 | €180,265 | €198,430 | €210,896 | ▲ 6.3% |
| Fixed assets21/28 | €95,443 | €148,523 | €137,542 | €118,090 | €115,488 | ▼ 2.2% |
| Tangible fixed assets22/27 | €95,443 | €148,523 | €137,542 | €118,090 | €115,488 | ▼ 2.2% |
| Land and buildings22 | €52,923 | €46,277 | €38,961 | €31,079 | €22,138 | ▼ 28.8% |
| Plant, machinery and equipment23 | €42,521 | €102,246 | €98,581 | €87,011 | €93,351 | ▲ 7.3% |
| Current assets29/58 | €45,150 | €20,196 | €42,724 | €80,340 | €95,408 | ▲ 18.8% |
| Amounts receivable within one year40/41 | - | - | €338 | €845 | €13,431 | ▲ 1,490% |
| Trade receivables40 | - | - | €338 | €845 | €13,431 | ▲ 1,490% |
| Cash at bank and in hand54/58 | €44,451 | €19,422 | €33,417 | €64,915 | €81,105 | ▲ 24.9% |
| Deferred charges and accrued income490/1 | €699 | €773 | €8,968 | €14,579 | €872 | ▼ 94.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,594 | €168,718 | €180,265 | €198,430 | €210,896 | ▲ 6.3% |
| Equity10/15 | -€30,101 | -€26,520 | -€8,477 | €14,603 | €20,832 | ▲ 42.7% |
| Contributions10/11 | €134,110 | €134,110 | €134,110 | €134,110 | €134,110 | = |
| Outside capital11 | €134,110 | €134,110 | €134,110 | €134,110 | €134,110 | = |
| Other1109/19 | €134,110 | €134,110 | €134,110 | €134,110 | €134,110 | = |
| Reserves13 | €7,208 | €7,208 | €7,208 | €7,208 | €7,208 | = |
| Non-distributable reserves130/1 | €7,208 | €7,208 | €7,208 | €7,208 | €7,208 | = |
| Reserves not available under the articles1311 | €7,208 | €7,208 | €7,208 | €7,208 | €7,208 | = |
| Profit (loss) carried forward14 | -€171,419 | -€167,838 | -€149,796 | -€126,716 | -€120,487 | ▲ 4.9% |
| Amounts payable17/49 | €170,694 | €195,238 | €188,743 | €183,827 | €190,065 | ▲ 3.4% |
| Amounts payable after more than one year17 | €30,790 | €24,794 | €18,549 | €12,043 | €5,267 | ▼ 56.3% |
| Financial debts170/4 | €30,790 | €24,794 | €18,549 | €12,043 | €5,267 | ▼ 56.3% |
| Amounts payable within one year42/48 | €131,905 | €161,111 | €160,861 | €162,451 | €184,798 | ▲ 13.8% |
| Current portion of amounts payable after more than one year42 | €7,347 | €5,996 | €6,245 | €6,505 | €6,776 | ▲ 4.2% |
| Trade debts44 | - | €499 | - | €198 | €12,941 | ▲ 6,430% |
| Suppliers440/4 | - | €499 | - | €198 | €12,941 | ▲ 6,430% |
| Other amounts payable47/48 | €124,558 | €154,616 | €154,616 | €155,747 | €165,080 | ▲ 6.0% |
| Accrued charges and deferred income492/3 | €8,000 | €9,333 | €9,333 | €9,333 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,123 | €3,581 | €18,042 | €23,080 | €6,229 | ▼ 73.0% |
| + Depreciation and write-downs630 | €14,716 | €17,030 | €19,131 | €19,452 | €20,512 | ▲ 5.4% |
| Operating cash flow (approximation) | €37,839 | €20,611 | €37,174 | €42,532 | €26,741 | ▼ 37.1% |
| Investment in fixed assets (approximation) | - | -€70,109 | -€8,150 | €0 | -€17,911 | - |
| Change in cash | - | -€25,029 | €13,994 | €31,499 | €16,190 | ▼ 48.6% |
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 · abbreviated schema
15-07
State Gazette act
RestructuringMerger · Shareholding · Director in office8 facts ▸
State Gazette act
Restructuring
Merger · Shareholding · Director in office8 facts ▸
- Merger, fusion par absorption, unanimité
- Shareholding, Actions, 541
- Director in office, Christian HOTTART (director)
- Director in office, Olivier DEBROUX (director)
- Director in office, Christian HOTTART (director)
- Director in office, Olivier DEBROUX (director)
- Other statement, absence de droits spéciaux, il n'y a pas de droits attribués par la société Absorbante aux Associés ou Actionnaires de la société Absorbée qui ont des droits sp…
- Other statement, absence d'avantages particuliers, il n'y a pas d'avantage particulier attribué aux membres des Organes d'Administration des sociétés appelées à fusionner
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €23,123 ▲88.7%
Operating result €26,375, net result €23,123, both a record.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 45 days late
2019
31-12
Financial
Weakest financial yearnet €1,380 ▼84%
Net result drops to €1,380, the lowest in the series; recovery starts the following year.
27-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 3 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Incourt
Ground area
1.6 ha
Building footprint
145 m²
Parcel 25086A0608/00P000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25086A0608/00P000 | Wallonia | 1.6 ha | 1 · 145 m² | - |
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.
Articles of association
Purpose
La gestion de son patrimoine immobilier et mobilier, plus précisément, sa mise en valeur, en location et son entretien; Acquérir, aliéner, prendre et donner à bail tous biens…
Full purpose (5 activities)
- La gestion de son patrimoine immobilier et mobilier, plus précisément, sa mise en valeur, en location et son entretien
- Acquérir, aliéner, prendre et donner à bail tous biens meubles et immeubles
- Contracter ou consentir tous emprunts hypothécaires ou autres
- Faire tout ce qui est utile ou nécessaire à l'accomplissement de son objet social et d'une façon générale accomplir toutes opérations se rapportant directement ou indirectement, entièrement ou partiellement à son objet social
- S'intéresser par toutes voies dans toutes affaires, entreprises ou sociétés ayant un objet identique, analogue ou connexe ou de nature à favoriser le développement de son activité
Accounting effect
01-01-2026
Other statement
2 provisions in the deed
Structure & network
Owners and holdings
1 ownerChain of control
- DEPRO
- IMMOCAP
Highest known parent: DEPRO. The sources do not say who stands above it.
Owners 1
- DEPROparent100%
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.
Acquisitions and mergers
1 transactionTaken over by:DEPRO SRL
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 15-07-2026 ↗
- DEPRO SRL (BE 0434.452.013) all shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Identification & contact
Identification
Legal formPrivate limited company
Founded15-10-1992
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448552843
Registered
05-01-2026
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.