IMMODEG
ActiveSummary
IMMODEG has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.8m and a net result of €6.0m. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 88% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+30
Solvency100▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €700,000 at 30 days acceptable
Liquidity short (current ratio 0.49 against 1.38 in 2024; short-term debt: 6.8% and cash: 2.2% of total assets), and 8.3% 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○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
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
91.7%
Return on assets
70.2%
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
17 d early
2023
35 d early
2022
30 d late
2021
122 d late
2020
40 d late
2019
88 d late
← 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 30 days after 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 (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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6.0m▲ 20,473%
2024 · €29,173
Working capital
-€293,363
2024 · €263,016
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
Line20212022202320242025
Operating result€144,378▼ 39.4%-€39,672-€32,005▲ 19.3%€96,228€8.0m▲ 8,184%
Net result€98,014within the sector's middle half▼ 43.0%-€37,654below the sector's middle half€27,291within the sector's middle half€29,173within the sector's middle half▲ 6.9%€6.0mabove the sector's middle half▲ 20,473%
Equity€1.8mabove the sector's middle half▲ 2.7%€1.8mabove the sector's middle half▼ 1.5%€1.8mabove the sector's middle half▲ 1.5%€1.8mabove the sector's middle half▲ 1.6%€7.8mabove the sector's middle half▲ 326%
Total assets€2.9mwithin the sector's middle half▼ 1.6%€2.7mwithin the sector's middle half▼ 7.3%€4.4mwithin the sector's middle half▲ 63.2%€2.7mwithin the sector's middle half▼ 37.8%€8.6mwithin the sector's middle half▲ 215%
Debt€956,757▼ 8.6%€789,779▼ 17.5%€2.6m▲ 224%€876,497▼ 65.7%€710,079▼ 19.0%
Working capital€563,894▲ 7.8%€617,328▲ 9.5%€140,012▼ 77.3%€263,016▲ 87.9%-€293,363
Solvency62.7%above the sector's middle half▲ 2.7pp66.6%above the sector's middle half▲ 3.9pp41.4%within the sector's middle half▼ 25.2pp67.7%above the sector's middle half▲ 26.3pp91.7%above the sector's middle half▲ 24.0pp
Staff (FTE)1.8within the sector's middle half▼ 21.7%2.1within the sector's middle half▲ 16.7%1.7within the sector's middle half▼ 19.0%4.6above the sector's middle half▲ 171%4.1above the sector's middle half▼ 10.9%
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.
Why a figure moved sharply
- 2025 Net result +20,473% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 8,184% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.6m
Fixed assets
€8.3m ▲ 368%
Current assets
€285,007 ▼ 70.0%
Equity and liabilities €8.6m
Equity
€7.8m ▲ 326%
Debt
€710,079 ▼ 19.0%
Debt's share of the balance-sheet total falls from 32.3% to 8.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8.2m▲
2024 · €431,391
Cash flow
€6.3m▲
2024 · €364,336
Current ratio
0.49▼
2024 · 1.38
Debt to equity
0.09▼
2024 · 0.48
ROE
76.5%▲
2024 · 1.6%
ROA
70.2%▲
2024 · 1.1%
Interest coverage
1093.77▲
2024 · 7.26
Debt ≤ 1 year
€578,371▼
2024 · €687,996
Debt > 1 year
€131,708▼
2024 · €188,486
Income taxes
€2.0m▲
2024 · €10,867
Staff costs
€233,367▲
2024 · €212,783
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €897,194 | - | €7.8m | - |
| Remuneration, social security and pensions62 | €82,777 | €90,951 | €92,144 | €212,783 | €233,367 | ▲ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163,468 | €161,795 | €162,824 | €335,164 | €260,692 | ▼ 22.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €263,765 | -€17,110 | €17,129 | -€267,191 | ▼ 1,660% |
| Other operating charges640/8 | €62,835 | €112,270 | €110,725 | €117,027 | €248,304 | ▲ 112% |
| Non-recurring operating charges66A | - | - | €629,603 | - | €8,400 | - |
| Gross operating margin9900 | €453,459 | €589,109 | €946,182 | €778,330 | €8.5m | ▲ 986% |
| Operating profit (loss)9901 | €144,378 | -€39,672 | -€32,005 | €96,228 | €8.0m | ▲ 8,184% |
| Financial income75/76B | €8,827 | €7,926 | €42,889 | €3,253 | €36,701 | ▲ 1,028% |
| Recurring financial income75 | €8,827 | €7,926 | €42,889 | €3,253 | €36,701 | ▲ 1,028% |
| Financial charges65/66B | €13,429 | €10,994 | €14,062 | €59,441 | €7,526 | ▼ 87.3% |
| Recurring financial charges65 | €13,429 | €10,994 | €14,062 | €59,441 | €7,526 | ▼ 87.3% |
| Profit (loss) for the period before taxes9903 | €139,777 | -€42,739 | -€3,177 | €40,040 | €8.0m | ▲ 19,881% |
| Transfer from deferred taxes780 | €5,085 | €5,085 | €103,386 | - | - | - |
| Income taxes67/77 | €46,848 | - | €72,917 | €10,867 | €2.0m | ▲ 18,294% |
| Profit (loss) for the period9904 | €98,014 | -€37,654 | €27,291 | €29,173 | €6.0m | ▲ 20,473% |
| Transfer from tax-exempt reserves789 | €12,106 | €12,106 | €199,018 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €110,120 | -€25,548 | €226,309 | €29,173 | €6.0m | ▲ 20,473% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €2.7m | €4.4m | €2.7m | €8.6m | ▲ 215% |
| Fixed assets21/28 | €1.9m | €1.7m | €1.9m | €1.8m | €8.3m | ▲ 368% |
| Intangible fixed assets21 | - | - | - | €10,000 | €5,000 | ▼ 50.0% |
| Tangible fixed assets22/27 | €1.9m | €1.7m | €1.9m | €1.8m | €1.2m | ▼ 29.8% |
| Land and buildings22 | €1.9m | €1.7m | €1.9m | €1.0m | €579,448 | ▼ 44.5% |
| Plant, machinery and equipment23 | €7,890 | €5,875 | €3,859 | €18,730 | €40,301 | ▲ 115% |
| Furniture and vehicles24 | - | - | - | €1,664 | €1,248 | ▼ 25.0% |
| Leasing and similar rights25 | - | - | - | €16,065 | €12,049 | ▼ 25.0% |
| Other tangible fixed assets26 | - | - | - | €674,100 | €599,200 | ▼ 11.1% |
| Financial fixed assets28 | - | - | - | - | €7.0m | - |
| Current assets29/58 | €998,712 | €950,789 | €2.4m | €951,012 | €285,007 | ▼ 70.0% |
| Amounts receivable after more than one year29 | €793,591 | €792,048 | €744,973 | - | - | - |
| Other amounts receivable291 | €793,591 | €792,048 | €744,973 | - | - | - |
| Amounts receivable within one year40/41 | €123,725 | €98,567 | €1.6m | €142,622 | €90,262 | ▼ 36.7% |
| Trade receivables40 | €123,282 | €97,462 | €99,122 | €104,072 | €86,861 | ▼ 16.5% |
| Other amounts receivable41 | €443 | €1,106 | €1.5m | €38,549 | €3,402 | ▼ 91.2% |
| Cash at bank and in hand54/58 | €72,939 | €52,249 | €108,010 | €799,177 | €186,904 | ▼ 76.6% |
| Deferred charges and accrued income490/1 | €8,457 | €7,925 | €15,137 | €9,214 | €7,841 | ▼ 14.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €2.7m | €4.4m | €2.7m | €8.6m | ▲ 215% |
| Equity10/15 | €1.8m | €1.8m | €1.8m | €1.8m | €7.8m | ▲ 326% |
| Contributions10/11 | €62,891 | €62,891 | €62,891 | €62,891 | €62,891 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Outside capital11 | €891 | €891 | €891 | €891 | €891 | = |
| Share premium1100/10 | €891 | €891 | €891 | €891 | €891 | = |
| Reserves13 | €280,512 | €278,618 | €79,600 | €79,600 | €79,600 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €209,043 | €207,149 | €8,131 | €8,131 | €8,131 | = |
| Distributable reserves133 | €65,269 | €65,269 | €65,269 | €65,269 | €65,269 | = |
| Profit (loss) carried forward14 | €1.5m | €1.4m | €1.7m | €1.7m | €7.7m | ▲ 354% |
| Provisions and deferred taxes16 | €118,684 | €103,386 | - | - | - | - |
| Deferred taxes168 | €118,684 | €103,386 | - | - | - | - |
| Amounts payable17/49 | €956,757 | €789,779 | €2.6m | €876,497 | €710,079 | ▼ 19.0% |
| Amounts payable after more than one year17 | €519,709 | €386,297 | €262,320 | €188,486 | €131,708 | ▼ 30.1% |
| Financial debts170/4 | €519,709 | €386,297 | €262,320 | €188,486 | €131,708 | ▼ 30.1% |
| Amounts payable within one year42/48 | €434,818 | €333,461 | €2.3m | €687,996 | €578,371 | ▼ 15.9% |
| Current portion of amounts payable after more than one year42 | €142,945 | €133,412 | €123,977 | €91,916 | €56,778 | ▼ 38.2% |
| Financial debts43 | - | - | €529,603 | - | - | - |
| Credit institutions430/8 | - | - | €529,603 | - | - | - |
| Trade debts44 | €116,355 | €88,215 | €1.4m | €550,135 | €474,829 | ▼ 13.7% |
| Suppliers440/4 | €116,355 | €88,215 | €1.4m | €550,135 | €474,829 | ▼ 13.7% |
| Taxes, remuneration and social security45 | €125,322 | €76,639 | €90,059 | €45,945 | €46,764 | ▲ 1.8% |
| Taxes450/3 | €119,830 | €70,472 | €82,821 | €30,087 | €27,482 | ▼ 8.7% |
| Remuneration and social security454/9 | €5,492 | €6,167 | €7,238 | €15,859 | €19,282 | ▲ 21.6% |
| Other amounts payable47/48 | €50,195 | €35,195 | €127,500 | - | - | - |
| Accrued charges and deferred income492/3 | €2,229 | €70,020 | €3,000 | €15 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,014 | -€37,654 | €27,291 | €29,173 | €6.0m | ▲ 20,473% |
| + Depreciation and write-downs630 | €163,468 | €161,795 | €162,824 | €335,164 | €260,692 | ▼ 22.2% |
| Operating cash flow (approximation) | €261,481 | €124,141 | €190,116 | €364,336 | €6.3m | ▲ 1,619% |
| Investment in fixed assets (approximation) | - | €0 | -€373,048 | -€164,513 | -€6.8m | ▼ 4,010% |
| Change in cash | - | -€20,690 | €55,761 | €691,167 | -€612,273 | ▼ 189% |
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
31-08
State Gazette act
Resignation: SFD BV (director)Permanent representative: Diederik De Lentdecker · Appointment: SFD BV (director)6 facts ▸
State Gazette act
Resignation: SFD BV (director)
Permanent representative: Diederik De Lentdecker · Appointment: SFD BV (director)6 facts ▸
- General meeting, 25-06-2026
- Director resignation, SFD BV (director)
- Board composition, SFD BV (director)
- Permanent representative, Diederik De Lentdecker (vertegenwoordigd door)
- Director appointment, SFD BV (director)
- Permanent representative, Diederik De Lentdecker (permanent representative)
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €6.0m ▲20,473%
Operating result €8.0m, net result €6.0m, both a record.
31-12
Financial
Equity above €5mEq €7.8m ▲326%
3 profitable years in a row build equity to €7.8m.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €27,291
Net result €27,291 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet -€37,654
Net result drops to -€37,654, the lowest in the series; recovery starts the following year.
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 122 days late
2021
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 40 days late
2020
31-12
Financial
Back to profitnet €171,961
Net result €171,961 after one loss-making year.
Show earlier events
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 88 days late
2019
21-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 82 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 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
1 director, last change in 2025
Board 1
SFD BV
CurrentDirector · since 01-04-2025 · Legal entity · perm. rep.: Diederik De Lentdecker
Permanent representatives 1
Diederik De Lentdecker
CurrentPermanent representative · since 01-04-2025 · for SFD BV
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1989
Ground area
1.4 ha
Building footprint
8,125 m²
Volume, LiDAR
60,080 m³
Parcel 44807G0227/00V002, Flanders · tallest building 17.3 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Wiedauwkaai 25 2, 9000 Gent
since 19892.043.062.795
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0227/00V002 | Flanders | 1.4 ha | 1 · 8,125 m² | 17.3 m · 2 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.
Mandate history
1 person since 2025, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| SFD BV |
|
Structure & network
Part of the group
Ogepar
11 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
- Ogepar
- Anglo Belgian Corporation
- IMMODEG
Highest known parent: Ogepar. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
100%
According to the 2025 annual accounts of IMMODEG 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
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 2,155 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
Founded21-12-1988
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436271356
Also
9925:BE0436271356
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.