IMMOCEL
ActiveSummary
IMMOCEL has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €187,130 and a net result of €47,857. Equity is shrinking by ~17% per year across the filed fiscal years. Its solvency ranks better than 21% of 9742 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability62▲+8
Solvency30▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.17 in 2023; short-term debt: 40.2% and cash: 0.7% of total assets), and 95.4% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 9742 sector peers (2024).
NBB · sector comparisonPosition among 9742 sector peers
Solvency
better than 21%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €187,130
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
3 d early
2023
2 d early
2022
5 d early
2021
27 d early
2020
15 d early
2019
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€187,130▲ 34.4%
2023 · €139,273
Total assets
€4.1m▼ 6.3%
2023 · €4.3m
Net result
€47,857▲ 399%
2023 · €9,597
Working capital
-€1.5m▼ 13.6%
2023 · -€1.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20202021202220232024
Operating result-€63,131€6,801€94,067▲ 1,283%€76,050▼ 19.2%€111,833▲ 47.1%
Net result-€117,453=-€64,745below the sector's middle half▲ 44.9%€20,798within the sector's middle half€9,597within the sector's middle half▼ 53.9%€47,857within the sector's middle half▲ 399%
Equity€259,483▼ 31.2%€108,879within the sector's middle half▼ 58.0%€129,677within the sector's middle half▲ 19.1%€139,273within the sector's middle half▲ 7.4%€187,130within the sector's middle half▲ 34.4%
Total assets€4.8m▲ 15.7%€4.6mabove the sector's middle half▼ 3.7%€4.4mwithin the sector's middle half▼ 4.7%€4.3mwithin the sector's middle half▼ 1.6%€4.1mwithin the sector's middle half▼ 6.3%
Debt€4.6m▲ 18.9%€4.5m▼ 2.5%€4.3m▼ 5.3%€4.1m▼ 4.5%€3.8m▼ 5.7%
Working capital-€1.0m▼ 17.6%-€1.2mbelow the sector's middle half▼ 15.4%-€1.3mbelow the sector's middle half▼ 13.6%-€1.3mbelow the sector's middle half▲ 2.1%-€1.5mbelow the sector's middle half▼ 13.6%
Solvency5.4%▼ 3.7pp2.4%below the sector's middle half▼ 3.1pp2.9%below the sector's middle half▲ 0.6pp3.2%below the sector's middle half▲ 0.3pp4.6%below the sector's middle half▲ 1.4pp
Current ratio0.18▲ 0.020.17below the sector's middle half▼ 0.010.08below the sector's middle half▼ 0.080.17below the sector's middle half▲ 0.080.10below the sector's middle half▼ 0.07
Return on assets (ROA)-2.4%▲ 0.4pp-1.4%below the sector's middle half▲ 1.0pp0.5%within the sector's middle half▲ 1.9pp0.2%within the sector's middle half▼ 0.3pp1.2%within the sector's middle half▲ 1.0pp
Staff (FTE)1▼ 9.1%1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 47% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.1m
Fixed assets
€3.9m ▼ 4.1%
Current assets
€155,233 ▼ 40.4%
Equity and liabilities €4.1m
Equity
€187,130 ▲ 34.4%
Provisions
€27,242 ▼ 76.3%
Debt
€3.8m ▼ 5.7%
Debt's share of the balance-sheet total rises from 94.1% to 94.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€318,876▲
2023 · €282,680
Cash flow
€254,900▲
2023 · €216,227
Debt to equity
20.54▼
2023 · 29.26
ROE
25.6%▲
2023 · 6.9%
Interest coverage
4.96▲
2023 · 4.18
Debt ≤ 1 year
€1.6m▲
2023 · €1.6m
Debt > 1 year
€2.2m▼
2023 · €2.5m
Income taxes
€79▼
2023 · €164
Staff costs
€22,695▼
2023 · €38,922
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
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €500 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €33,317 | €35,782 | €38,922 | €22,695 | ▼ 41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €191,555 | €206,159 | €204,478 | €206,630 | €207,043 | ▲ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€3,436 | €1,250 | €8,282 | €1,872 | ▼ 77.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €115,000 | -€87,758 | ▼ 176% |
| Other operating charges640/8 | - | €45,974 | €37,982 | €65,685 | €42,088 | ▼ 35.9% |
| Gross operating margin9900 | €225,969 | €288,814 | €373,559 | €510,569 | €297,773 | ▼ 41.7% |
| Operating profit (loss)9901 | -€63,131 | €6,801 | €94,067 | €76,050 | €111,833 | ▲ 47.1% |
| Financial income75/76B | - | €702 | €87 | €1,406 | €344 | ▼ 75.5% |
| Recurring financial income75 | €12,164 | €702 | €87 | €1,406 | €344 | ▼ 75.5% |
| Financial charges65/66B | - | €72,102 | €73,208 | €67,695 | €64,241 | ▼ 5.1% |
| Recurring financial charges65 | €66,924 | €72,102 | €73,208 | €67,695 | €64,241 | ▼ 5.1% |
| Profit (loss) for the period before taxes9903 | -€117,284 | -€64,599 | €20,947 | €9,761 | €47,936 | ▲ 391% |
| Income taxes67/77 | €169 | €146 | €149 | €164 | €79 | ▼ 52.2% |
| Profit (loss) for the period9904 | -€117,453 | -€64,745 | €20,798 | €9,597 | €47,857 | ▲ 399% |
| Profit (loss) for the period to be appropriated9905 | -€117,453 | -€64,745 | €20,798 | €9,597 | €47,857 | ▲ 399% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.8m | €4.6m | €4.4m | €4.3m | €4.1m | ▼ 6.3% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €4.6m | €4.4m | €4.3m | €4.1m | €3.9m | ▼ 4.1% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €4.6m | €4.4m | €4.3m | €4.1m | €3.9m | ▼ 4.1% |
| Land and buildings22 | - | €4.4m | €4.3m | €4.1m | €3.9m | ▼ 4.0% |
| Plant, machinery and equipment23 | - | - | - | - | €3,043 | - |
| Furniture and vehicles24 | - | €21,031 | €14,792 | €8,757 | €2,853 | ▼ 67.4% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €214,575 | €236,423 | €123,108 | €260,415 | €155,233 | ▼ 40.4% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €196,475 | €196,883 | €79,024 | €93,126 | €108,608 | ▲ 16.6% |
| Trade receivables40 | - | €123,019 | €79,024 | €93,126 | €108,608 | ▲ 16.6% |
| Other amounts receivable41 | - | €73,863 | €0 | - | - | - |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €32,168 | €35,069 | €38,965 | €6,114 | €27,659 | ▲ 352% |
| Deferred charges and accrued income490/1 | - | €4,471 | €5,118 | €161,175 | €18,966 | ▼ 88.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.8m | €4.6m | €4.4m | €4.3m | €4.1m | ▼ 6.3% |
| Equity10/15 | €259,483 | €108,879 | €129,677 | €139,273 | €187,130 | ▲ 34.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | €417,500 | €417,500 | €417,500 | €417,500 | = |
| Reserves13 | €82,795 | €82,795 | €82,795 | €82,795 | €82,795 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €76,595 | €76,595 | €76,595 | €76,595 | = |
| Profit (loss) carried forward14 | -€388,671 | -€453,416 | -€432,619 | -€423,022 | -€375,165 | ▲ 11.3% |
| Provisions and deferred taxes16 | - | - | - | €115,000 | €27,242 | ▼ 76.3% |
| Provisions for liabilities and charges160/5 | - | - | - | €115,000 | €27,242 | ▼ 76.3% |
| Major repairs and maintenance162 | - | - | - | €115,000 | €27,242 | ▼ 76.3% |
| Amounts payable17/49 | €4.6m | €4.5m | €4.3m | €4.1m | €3.8m | ▼ 5.7% |
| Amounts payable after more than one year17 | €3.4m | €3.1m | €2.8m | €2.5m | €2.2m | ▼ 12.2% |
| Financial debts170/4 | - | €3.1m | €2.8m | €2.5m | €2.2m | ▼ 12.2% |
| Other amounts payable178/9 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Amounts payable within one year42/48 | €1.2m | €1.4m | €1.4m | €1.6m | €1.6m | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | - | €287,102 | €292,736 | €298,334 | €304,336 | ▲ 2.0% |
| Trade debts44 | €134,204 | €110,176 | €78,443 | €101,166 | €123,610 | ▲ 22.2% |
| Suppliers440/4 | - | €110,176 | €78,443 | €101,166 | €123,610 | ▲ 22.2% |
| Taxes, remuneration and social security45 | - | €24,228 | €19,124 | €24,799 | €22,048 | ▼ 11.1% |
| Taxes450/3 | - | €19,906 | €14,579 | €19,752 | €22,048 | ▲ 11.6% |
| Remuneration and social security454/9 | - | €4,321 | €4,545 | €5,047 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €982,404 | €1.1m | €1.1m | €1.2m | ▲ 4.0% |
| Accrued charges and deferred income492/3 | - | €10,477 | €20,862 | €15,775 | €16,209 | ▲ 2.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€117,453 | -€64,745 | €20,798 | €9,597 | €47,857 | ▲ 399% |
| + Depreciation and write-downs630 | €191,555 | €206,159 | €204,478 | €206,630 | €207,043 | ▲ 0.2% |
| Operating cash flow (approximation) | €74,102 | €141,414 | €225,275 | €216,227 | €254,900 | ▲ 17.9% |
| Investment in fixed assets (approximation) | - | -€5,639 | -€101,718 | €0 | -€39,932 | - |
| Change in cash | - | €2,901 | €3,896 | -€32,851 | €21,545 | ▲ 166% |
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
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €150,000Eq €187,130 ▲34.4%
3 profitable years in a row build equity to €187,130.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €20,798
Net result €20,798 after 3 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Heusden-Zolder · 2 establishment units since 1997
Ground area
7,540 m²
Building footprint
4,040 m²
Volume, LiDAR
24,080 m³
2 parcels, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
STOREBOX
since 19972.084.597.504
STOREBOX
since 20202.313.629.350
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13028B0203/00P006 | Flanders | 6,379 m² | 1 · 3,509 m² | 9.5 m · 2 fl. |
| 71502B1052/00K000 | Flanders | 1,161 m² | 1 · 531 m² | 8.3 m · 1 fl. |
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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CREATIVE BUILDING
BE 0547.967.054
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YUST Housing Antwerp
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FABATHOME
BE 0429.571.032
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Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 4,749 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
Founded13-10-1997
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0461657048
Also
9925:BE0461657048
Registered
21-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.