IMMOCO
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 02-10-2026 at the NBB all 30 filings
Turnover
≈ €210,000
Estimated: probably between €96,000 and €400,000
Total assets
€720,893▼ 0.5%
2025 · €724,501
Net result
-€17,378▲ 33.7%
2025 · -€26,227
Working capital
-€66,778▼ 58.3%
2025 · -€42,179
In the rankings
#3 oldest company in Koksijde, Construction sector
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€10,249
▲ 47.6%
2026
20192026
Net result
-€17,378
▲ 33.7%
2026
20192026
Equity
€398,293
▼ 4.2%
2026
20192026
Total assets
€720,893
▼ 0.5%
2026
20192026
Debt
€322,599
▲ 4.5%
2026
20192026
Working capital
-€66,778
▼ 58.3%
2026
20192026
Solvency
55.3%
▼ 2.1pp
2026
20192026
Current ratio
0.26
▼ 0.04
2026
20192026
Return on assets (ROA)
-2.4%
▲ 1.2pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.03m-€0.02m▼ 22.8%€0.009m▼ 58.1%€0.01m▲ 60.5%€0.03m▲ 102%€0.02m▼ 28.1%-€0.02m-€0.01m▲ 47.6%
Net result€0.02m-€0.01m▼ 29.9%€0.006mwithin the sector's middle half▼ 56.8%€0.009mwithin the sector's middle half▲ 40.2%€0.02mwithin the sector's middle half▲ 85.5%€0.009mwithin the sector's middle half▼ 43.4%-€0.03mbelow the sector's middle half-€0.02m▲ 33.7%
Equity€0.6m-€0.7m▲ 2.2%€0.7mabove the sector's middle half▲ 0.9%€0.7mabove the sector's middle half▲ 1.3%€0.5mabove the sector's middle half▼ 32.8%€0.4mabove the sector's middle half▼ 2.5%€0.4mabove the sector's middle half▼ 5.9%€0.4m▼ 4.2%
Total assets€1.1m-€1.1m▼ 0.7%€1.1mabove the sector's middle half▼ 1.7%€1.1mabove the sector's middle half▼ 2.8%€0.9mabove the sector's middle half▼ 19.5%€0.8mabove the sector's middle half▼ 9.6%€0.7mabove the sector's middle half▼ 7.7%€0.7m▼ 0.5%
Debt€0.5m-€0.5m▼ 4.6%€0.4m▼ 5.4%€0.4m▼ 9.0%€0.4m▲ 2.8%€0.3m▼ 17.3%€0.3m▼ 10.1%€0.3m▲ 4.5%
Working capital€0.3m-€0.3m▲ 2.0%€0.3mabove the sector's middle half▼ 4.1%€0.3mabove the sector's middle half▼ 1.9%€0.02mwithin the sector's middle half▼ 91.1%-€98below the sector's middle half-€0.04mbelow the sector's middle half▼ 42,852%-€0.07m▼ 58.3%
Solvency56.7%-58.4%▲ 1.7pp60.0%within the sector's middle half▲ 1.6pp62.5%within the sector's middle half▲ 2.5pp52.2%within the sector's middle half▼ 10.4pp56.3%within the sector's middle half▲ 4.1pp57.4%within the sector's middle half▲ 1.1pp55.3%▼ 2.1pp
Current ratio6.72-6.16▼ 0.565.23above the sector's middle half▼ 0.935.65above the sector's middle half▲ 0.411.23within the sector's middle half▼ 4.421.00below the sector's middle half▼ 0.230.30below the sector's middle half▼ 0.700.26▼ 0.04
Return on assets (ROA)1.8%-1.3%▼ 0.5pp0.6%within the sector's middle half▼ 0.7pp0.8%within the sector's middle half▲ 0.2pp1.9%within the sector's middle half▲ 1.1pp1.2%within the sector's middle half▼ 0.7pp-3.6%below the sector's middle half▼ 4.8pp-2.4%▲ 1.2pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €10,249, smaller than the loss of €19,562 in 2025.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €720,893
Fixed assets
€697,522 ▼ 1.2%
Current assets
€23,370 ▲ 28.6%
Equity and liabilities €720,893
Equity
€398,293 ▼ 4.2%
Debt
€322,599 ▲ 4.5%
Debt's share of the balance-sheet total rises from 42.6% to 44.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€9,059▲
2025 · -€675
Cash flow
€1,931▲
2025 · -€7,340
Debt to equity
0.81▲
2025 · 0.74
ROE
-4.4%▲
2025 · -6.3%
Interest coverage
1.27▲
2025 · -0.10
Debt ≤ 1 year
€90,149▲
2025 · €60,347
Debt > 1 year
€220,578▼
2025 · €238,326
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 | 30-06-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €10,498 |
| Depreciation and write-downs of the year | €19,432 | €19,669 | €19,011 | €18,887 | €19,309 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,585 | €20,001 | €19,073 | €19,432 | €19,669 | €19,011 | €18,887 | €19,309 | ▲ 2.2% |
| Other operating charges640/8 | - | - | - | €9,554 | €8,733 | €8,875 | €9,321 | €7,607 | ▼ 18.4% |
| Gross operating margin9900 | €57,566 | €48,285 | €33,057 | €43,279 | €57,339 | €48,694 | €8,646 | €16,666 | ▲ 92.8% |
| Operating profit (loss)9901 | €27,488 | €21,230 | €8,904 | €14,293 | €28,937 | €20,809 | -€19,562 | -€10,249 | ▲ 47.6% |
| Financial income75/76B | - | - | - | €8,883 | €3,818 | €789 | - | - | - |
| Recurring financial income75 | €6,590 | €7,593 | €9,708 | €8,883 | €3,818 | €789 | - | - | - |
| Financial charges65/66B | - | - | - | €10,134 | €8,722 | €8,001 | €6,665 | €7,129 | ▲ 7.0% |
| Recurring financial charges65 | €11,438 | €10,785 | €9,250 | €10,134 | €8,722 | €8,001 | €6,665 | €7,129 | ▲ 7.0% |
| Profit (loss) for the period before taxes9903 | €22,640 | €18,037 | €9,362 | €13,042 | €24,033 | €13,597 | -€26,227 | -€17,378 | ▲ 33.7% |
| Income taxes67/77 | €2,058 | €3,607 | €3,123 | €4,296 | €7,811 | €4,412 | - | - | - |
| Profit (loss) for the period9904 | €20,582 | €14,430 | €6,240 | €8,746 | €16,222 | €9,184 | -€26,227 | -€17,378 | ▲ 33.7% |
| Profit (loss) for the period to be appropriated9905 | €20,582 | €14,430 | €6,240 | €8,746 | €16,222 | €9,184 | -€26,227 | -€17,378 | ▲ 33.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.1m | €1.1m | €0.9m | €0.8m | €0.7m | €0.7m | ▼ 0.5% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 1.2% |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 1.2% |
| Land and buildings22 | - | - | - | €0.8m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 2.7% |
| Furniture and vehicles24 | - | - | - | €0.001m | €124 | - | - | €0.01m | - |
| Current assets29/58 | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | €0.06m | €0.02m | €0.02m | ▲ 28.6% |
| Amounts receivable within one year40/41 | €0.07m | €0.1m | €0.1m | €0.3m | €0.1m | €0.04m | €0.004m | €0.003m | ▼ 20.8% |
| Trade receivables40 | - | - | - | - | €0.004m | €0.002m | €0.004m | €458 | ▼ 89.3% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.1m | €0.04m | €83 | €0.003m | ▲ 36× |
| Cash at bank and in hand54/58 | €0.05m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 48.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0.009m | €0.001m | €0.001m | ▼ 5.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.1m | €1.1m | €0.9m | €0.8m | €0.7m | €0.7m | ▼ 0.5% |
| Equity10/15 | €0.6m | €0.7m | €0.7m | €0.7m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 4.2% |
| Contributions10/11 | €0.3m | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Contributions outside capital11 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other1109/19 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 9.2% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.03m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 9.2% |
| Amounts payable17/49 | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | ▲ 4.5% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 7.4% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 7.4% |
| Amounts payable within one year42/48 | €0.05m | €0.05m | €0.06m | €0.06m | €0.1m | €0.06m | €0.06m | €0.09m | ▲ 49.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 27.5% |
| Trade debts44 | €0.003m | €0.01m | €0.02m | €0.01m | €0.008m | €365 | €0.001m | €0.002m | ▲ 110% |
| Suppliers440/4 | - | - | - | €0.01m | €0.008m | €365 | €0.001m | €0.002m | ▲ 110% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.008m | €0.004m | €0.003m | €0.004m | ▲ 37.2% |
| Taxes450/3 | - | - | - | €0.007m | €0.008m | €0.004m | €0.003m | €0.004m | ▲ 37.2% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.05m | €0.02m | €0.02m | €0.06m | ▲ 180% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.005m | €0.009m | €0.01m | €0.01m | ▲ 16.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,582 | €14,430 | €6,240 | €8,746 | €16,222 | €9,184 | -€26,227 | -€17,378 | ▲ 33.7% |
| + Depreciation and write-downs630 | €21,585 | €20,001 | €19,073 | €19,432 | €19,669 | €19,011 | €18,887 | €19,309 | ▲ 2.2% |
| Operating cash flow (approximation) | €42,167 | €34,431 | €25,313 | €28,178 | €35,891 | €28,195 | -€7,340 | €1,931 | - |
| Investment in fixed assets (approximation) | - | €0 | -€2,228 | €0 | €0 | €0 | €0 | -€10,498 | - |
| Change in cash | - | -€26,417 | -€1,425 | -€5,714 | €336 | -€2,509 | €2,531 | €6,166 | ▲ 144% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 8,617 companies had the same profile as IMMOCO has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMOCO itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for IMMOCO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2026 | abbreviated format | 02-10-2026 | 2026-00543197 | |
| 30-06-2025 | micro format | 27-08-2025 | 2025-00411928 | |
| 30-06-2024 | micro format | 10-01-2025 | 2025-00003641 | |
| 30-06-2023 | micro format | 26-09-2023 | 2023-00455554 | |
| 30-06-2022 | micro format | 26-10-2022 | 2022-20472828 | |
| 30-06-2021 | micro format | 09-11-2021 | 2021-76800171 | |
| 30-06-2020 | micro format | 08-12-2020 | 2020-74800060 | |
| 30-06-2019 | micro format | 13-01-2020 | 2020-01100177 | |
| 30-06-2018 | micro format | 30-01-2019 | 2019-02800431 | |
| 30-06-2017 | micro format | 31-01-2018 | 2018-04200557 |