IMMOCOV
ActiveSummary
IMMOCOV has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22.86M and a net result of €1.12M. Equity is growing by ~31.9% per year across the filed fiscal years. Its solvency ranks better than 87% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+4
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.85M at 30 days acceptable
Liquidity short (current ratio 0.41 against 0.45 in 2024; short-term debt: 1.6% and cash: 0.2% of total assets), and 15.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers 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 · 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 · 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
84.3%
Return on assets
4.1%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
17 d early
2023
21 d early
2022
18 d early
2021
31 d late
2020
31 d early
2019
21 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€22.86M▼ 4.0%
2024 · €23.81M
2018: €649klowest in 8 years
2019: €662k▲ +2.1% vs 2018
2020: €818k▲ +23.5% vs 2019
2021: €789k▼ -3.5% vs 2020
2022: €23.50M▲ +2879% vs 2021
2023: €23.67M▲ +0.7% vs 2022
2024: €23.81M▲ +0.6% vs 2023highest in 8 years
2025: €22.86M▼ -4.0% vs 2024
2018 → 2025
Total assets
€27.10M▼ 3.0%
2024 · €27.96M
2018: €896klowest in 8 years
2019: €919k▲ +2.5% vs 2018
2020: €953k▲ +3.7% vs 2019
2021: €1.35M▲ +41.5% vs 2020
2022: €27.86M▲ +1966% vs 2021
2023: €29.61M▲ +6.3% vs 2022highest in 8 years
2024: €27.96M▼ -5.6% vs 2023
2025: €27.10M▼ -3.0% vs 2024
2018 → 2025
Net result
€1.12M▲ 415%
2024 · €217k
2018: €337k
2019: €19k▼ -94.5% vs 2018
2020: €156k▲ +737% vs 2019
2021: €-29k▼ -119% vs 2020lowest in 8 years
2022: €163k▲ +664% vs 2021
2023: €174k▲ +7.1% vs 2022
2024: €217k▲ +24.6% vs 2023
2025: €1.12M▲ +415% vs 2024highest in 8 years
2018 → 2025
Working capital
€-252k▼ 22.6%
2024 · €-205k
2018: €11k
2019: €14k▲ +19.8% vs 2018
2020: €10k▼ -23.7% vs 2019
2021: €712k▲ +6793% vs 2020highest in 8 years
2022: €-503k▼ -171% vs 2021
2023: €-503k▼ -0.2% vs 2022lowest in 8 years
2024: €-205k▲ +59.2% vs 2023
2025: €-252k▼ -22.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€789k-€23.50M▲ 2,879%€23.67M▲ 0.7%€23.81M▲ 0.6%€22.86M▼ 4.0%
2021: €789klowest in 5 years
2022: €23.50M▲ +2879% vs 2021
2023: €23.67M▲ +0.7% vs 2022
2024: €23.81M▲ +0.6% vs 2023highest in 5 years
2025: €22.86M▼ -4.0% vs 2024
Operating result€2k-€221k▲ 9,374%€308k▲ 39.8%€377k▲ 22.2%€1.58M▲ 319%
2021: €2klowest in 5 years
2022: €221k▲ +9374% vs 2021
2023: €308k▲ +39.8% vs 2022
2024: €377k▲ +22.2% vs 2023
2025: €1.58M▲ +319% vs 2024highest in 5 years
Net result€-29k-€163k€174k▲ 7.1%€217k▲ 24.6%€1.12M▲ 415%
2021: €-29klowest in 5 years
2022: €163k▲ +664% vs 2021
2023: €174k▲ +7.1% vs 2022
2024: €217k▲ +24.6% vs 2023
2025: €1.12M▲ +415% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 319% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.10M
Fixed assets
€26.93M ▼ 3.1%
Current assets
€173k ▲ 3.6%
Equity and liabilities €27.10M
Equity
€22.86M ▼ 4.0%
Provisions
€700k ▲ 54.5%
Debt
€3.54M ▼ 4.2%
Debt's share of the balance-sheet total falls from 13.2% to 13.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€2.16M▲
2024 · €900k
Cash flow
€1.71M▲
2024 · €741k
Current ratio
0.41▼
2024 · 0.45
Debt to equity
0.16▼
2024 · 0.16
ROE
4.9%▲
2024 · 0.9%
ROA
4.1%▲
2024 · 0.8%
Interest coverage
20.53▲
2024 · 7.68
Debt ≤ 1 year
€425k▲
2024 · €373k
Debt > 1 year
€3.11M▼
2024 · €3.32M
Income taxes
€135k▲
2024 · €112k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€27.96M€27.10M▼
Fixed assets21/28€27.79M€26.93M▼
Tangible fixed assets22/27€26.45M€24.66M▼
Land and buildings22€25.92M€24.19M▼
Plant, machinery and equipment23€385k€340k▼
Furniture and vehicles24€8k€7k▼
Other tangible fixed assets26€141k€130k▼
Financial fixed assets28€1.34M€2.27M▲
Current assets29/58€167k€173k▲
Amounts receivable after more than one year29-€10k
Trade receivables290-€10k
Amounts receivable within one year40/41€139k€105k▼
Trade receivables40€130k€96k▼
Other amounts receivable41€9k€9k▲
Cash at bank and in hand54/58€28k€57k▲
Deferred charges and accrued income490/1-€651
Equity and liabilities
Total equity and liabilities10/49€27.96M€27.10M▼
Equity10/15€23.81M€22.86M▼
Contributions10/11€2.70M€2.70M=
Revaluation surpluses12€17.96M€15.90M▼
Reserves13€3.14M€4.26M▲
Non-distributable reserves130/1€12k€12k=
Reserves not available under the articles1311€12k€12k=
Tax-exempt reserves132€1.61M€2.31M▲
Distributable reserves133€1.52M€1.94M▲
Provisions and deferred taxes16€453k€700k▲
Deferred taxes168€453k€700k▲
Amounts payable17/49€3.70M€3.54M▼
Amounts payable after more than one year17€3.32M€3.11M▼
Financial debts170/4€2.93M€2.79M▼
Other amounts payable178/9€392k€321k▼
Amounts payable within one year42/48€373k€425k▲
Current portion of amounts payable after more than one year42€300k€284k▼
Trade debts44€27k€83k▲
Suppliers440/4€27k€83k▲
Taxes, remuneration and social security45€34k€55k▲
Taxes450/3€34k€55k▲
Other amounts payable47/48€11k€4k▼
Accrued charges and deferred income492/3€5k€6k▲
Income statement
Code20242025
Non-recurring operating income76A€68k€1.22M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€523k€587k▲
Other operating charges640/8€99k€47k▼
Gross operating margin9900€999k€2.21M▲
Operating profit (loss)9901€377k€1.58M▲
Financial income75/76B€30k€29k▼
Recurring financial income75€30k€29k▼
Financial charges65/66B€117k€105k▼
Recurring financial charges65€117k€105k▼
Profit (loss) for the period before taxes9903€289k€1.50M▲
Transfer from deferred taxes780€40k€55k▲
Transfer to deferred taxes680-€302k
Income taxes67/77€112k€135k▲
Profit (loss) for the period9904€217k€1.12M▲
Transfer from tax-exempt reserves789€119k€164k▲
Transfer to tax-exempt reserves689-€905k
Profit (loss) for the period to be appropriated9905€336k€379k▲
Appropriation of the result
Profit (loss) to be appropriated9906€336k€379k▲
Transfer to equity691/2€336k€379k▲
To other reserves6921€336k€379k▲
The notes to these accounts (26 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €15k | €68k | €1.22M | ▲ 1,679% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €437k | €492k | €523k | €587k | ▲ 12.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €11k | - | - | - |
| Other operating charges640/8 | €11k | €32k | €44k | €99k | €47k | ▼ 52.4% |
| Gross operating margin9900 | €43k | €689k | €855k | €999k | €2.21M | ▲ 121% |
| Operating profit (loss)9901 | €2k | €221k | €308k | €377k | €1.58M | ▲ 319% |
| Financial income75/76B | €4k | €12k | €32k | €30k | €29k | ▼ 4.1% |
| Recurring financial income75 | €4k | €12k | €32k | €30k | €29k | ▼ 4.1% |
| Financial charges65/66B | €2k | €19k | €88k | €117k | €105k | ▼ 10.0% |
| Recurring financial charges65 | €2k | €19k | €88k | €117k | €105k | ▼ 10.0% |
| Profit (loss) for the period before taxes9903 | €4k | €214k | €253k | €289k | €1.50M | ▲ 419% |
| Transfer from deferred taxes780 | €4k | €40k | €40k | €40k | €55k | ▲ 38.0% |
| Transfer to deferred taxes680 | €27k | - | - | - | €302k | - |
| Income taxes67/77 | €10k | €91k | €118k | €112k | €135k | ▲ 20.6% |
| Profit (loss) for the period9904 | €-29k | €163k | €174k | €217k | €1.12M | ▲ 415% |
| Transfer from tax-exempt reserves789 | €38k | €119k | €119k | €119k | €164k | ▲ 38.0% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €905k | - |
| Profit (loss) for the period to be appropriated9905 | €9k | €282k | €293k | €336k | €379k | ▲ 12.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.35M | €27.86M | €29.61M | €27.96M | €27.10M | ▼ 3.0% |
| Fixed assets21/28 | €602k | €27.66M | €29.42M | €27.79M | €26.93M | ▼ 3.1% |
| Tangible fixed assets22/27 | €560k | €25.67M | €26.76M | €26.45M | €24.66M | ▼ 6.8% |
| Land and buildings22 | €560k | €25.26M | €25.09M | €25.92M | €24.19M | ▼ 6.7% |
| Plant, machinery and equipment23 | - | €248k | €419k | €385k | €340k | ▼ 11.6% |
| Furniture and vehicles24 | - | - | - | €8k | €7k | ▼ 10.5% |
| Other tangible fixed assets26 | - | €166k | €152k | €141k | €130k | ▼ 8.0% |
| Assets under construction and advance payments27 | - | - | €1.09M | - | - | - |
| Financial fixed assets28 | €42k | €1.99M | €2.66M | €1.34M | €2.27M | ▲ 69.5% |
| Current assets29/58 | €746k | €199k | €192k | €167k | €173k | ▲ 3.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €10k | - |
| Trade receivables290 | - | - | - | - | €10k | - |
| Amounts receivable within one year40/41 | €9k | €83k | €112k | €139k | €105k | ▼ 24.1% |
| Trade receivables40 | €5k | €76k | €92k | €130k | €96k | ▼ 26.2% |
| Other amounts receivable41 | €4k | €7k | €20k | €9k | €9k | ▲ 8.2% |
| Cash at bank and in hand54/58 | €738k | €116k | €79k | €28k | €57k | ▲ 101% |
| Deferred charges and accrued income490/1 | - | - | - | - | €651 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.35M | €27.86M | €29.61M | €27.96M | €27.10M | ▼ 3.0% |
| Equity10/15 | €789k | €23.50M | €23.67M | €23.81M | €22.86M | ▼ 4.0% |
| Contributions10/11 | €123k | €2.70M | €2.70M | €2.70M | €2.70M | = |
| Revaluation surpluses12 | €1k | €18.05M | €18.05M | €17.96M | €15.90M | ▼ 11.5% |
| Reserves13 | €665k | €2.75M | €2.92M | €3.14M | €4.26M | ▲ 35.6% |
| Non-distributable reserves130/1 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves not available under the articles1311 | €12k | €12k | €12k | €12k | €12k | = |
| Tax-exempt reserves132 | €420k | €1.93M | €1.77M | €1.61M | €2.31M | ▲ 43.4% |
| Distributable reserves133 | €233k | €807k | €1.14M | €1.52M | €1.94M | ▲ 27.7% |
| Provisions and deferred taxes16 | €140k | €533k | €493k | €453k | €700k | ▲ 54.5% |
| Deferred taxes168 | €140k | €533k | €493k | €453k | €700k | ▲ 54.5% |
| Amounts payable17/49 | €420k | €3.83M | €5.44M | €3.70M | €3.54M | ▼ 4.2% |
| Amounts payable after more than one year17 | €386k | €3.13M | €4.74M | €3.32M | €3.11M | ▼ 6.2% |
| Financial debts170/4 | €384k | €1.61M | €2.91M | €2.93M | €2.79M | ▼ 4.6% |
| Other amounts payable178/9 | €2k | €1.52M | €1.83M | €392k | €321k | ▼ 18.1% |
| Amounts payable within one year42/48 | €34k | €702k | €695k | €373k | €425k | ▲ 14.1% |
| Current portion of amounts payable after more than one year42 | €18k | €204k | €323k | €300k | €284k | ▼ 5.5% |
| Trade debts44 | €10k | €448k | €277k | €27k | €83k | ▲ 202% |
| Suppliers440/4 | €10k | €448k | €277k | €27k | €83k | ▲ 202% |
| Taxes, remuneration and social security45 | €6k | €42k | €78k | €34k | €55k | ▲ 63.0% |
| Taxes450/3 | €6k | €42k | €78k | €34k | €55k | ▲ 63.0% |
| Other amounts payable47/48 | €19 | €8k | €17k | €11k | €4k | ▼ 67.9% |
| Accrued charges and deferred income492/3 | - | - | €4k | €5k | €6k | ▲ 6.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-29k | €163k | €174k | €217k | €1.12M | ▲ 415% |
| + Depreciation and write-downs630 | €30k | €437k | €492k | €523k | €587k | ▲ 12.1% |
| Operating cash flow (approximation) | €953 | €600k | €667k | €741k | €1.71M | ▲ 130% |
| Investment in fixed assets (approximation) | - | €-27.50M | €-2.24M | €1.10M | €272k | ▼ 75.4% |
| Change in cash | - | €-622k | €-37k | €-51k | €29k | ▲ 156% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €1.12M ▲415%
Operating result €1.58M, net result €1.12M, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €163k
Net result €163k after one loss-making year.
31-12
Financial
Equity above €10MEq €23.50M ▲2,879%
Equity rises from €789k to €23.50M.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-29k
Net result drops to €-29k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 10current ratio 21.88
Current ratio from 2.22 to 21.88.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 26 acts read
About the unread acts
We know of 26 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
26 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, Gent · 1 establishment unit since 1926
Ground area
5,935 m²
Building footprint
663 m²
Volume, LiDAR
2,255 m³
Parcel 44807G0029/00Z002, Flanders · tallest building 4.5 m, ±1 floor. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Nieuwevaart 151, 9000 Gent
since 19262.007.849.124
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0029/00Z002 | Flanders | 5,935 m² | 1 · 663 m² | 4.5 m · 1 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 9,136 companies in sector 68201 we hold annual accounts for 6,765. 1,170 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.