IMMODEL
ActiveSummary
IMMODEL has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €417,168 and a net result of €21,525. Equity has been growing by about 4.8% per year since 2018. Its solvency ranks better than 59% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active Normal situation
- Activity
- Real estate agency activities NACE 68310and 1 other
- Establishment unit
- 2.005.840.432 5000 Namur, since 01-04-1958
- Financial year end
- 31 December
- Peppol
- Reachable since 24-12-2025
Board and ownership
- DELAHAUT PierreDirector · since 29-01-1993
- Anna Van DyckDirector · since 15-11-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €103,010
- ▼ 72.5%
- Turnover
- ≈ €180,000
- estimated
- Profit
- €21,525
- ▼ 88.6%
- Equity
- €417,168
- ▼ 3.1%
- Total assets
- €1.0m
- ▼ 24.6%
Score breakdownraises riskLiquidity: current ratio 0.92, cash €68,009, halvedProfit of €21,525 (financial year 2025)lowers riskSize: total assets €1.0mFigures for financial year 2025 (filed on 22-06-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 57% of them on solvency, 70% on liquidity, 62% on profitability and 37% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 29 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 48 filings
Every figure per financial year
The operating result for 2025 is 88% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| Mortgages, amount registered | - | €55,000 | €27,500 | €27,500 |
| Mortgage mandates | - | €2.3m | €522,500 | €522,500 |
| Carrying value of the mortgaged assets | - | €1.2m | €993,627 | €940,253 |
| Carrying value of the other pledged assets | €16,975 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €219,235 | €327,321 | €14,867 | - |
| Depreciation and write-downs of the year | €34,818 | €44,255 | €53,831 | €53,373 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €17,832 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,020 | €37,770 | €33,171 | €34,818 | €44,255 | €53,831 | €53,373 | ▼ 0.9% |
| Other operating charges640/8 | - | - | - | €5,509 | €6,043 | €8,384 | €11,303 | ▲ 34.8% |
| Gross operating margin9900 | €88,955 | €87,514 | €418,757 | €60,808 | €69,789 | €374,951 | €103,010 | ▼ 72.5% |
| Operating profit (loss)9901 | €54,076 | €38,732 | €379,239 | €20,481 | €19,491 | €312,735 | €38,334 | ▼ 87.7% |
| Financial income75/76B | - | - | - | €137 | €1 | €4,700 | €2,213 | ▼ 52.9% |
| Recurring financial income75 | €61 | - | €235 | €137 | €1 | €4,700 | €2,213 | ▼ 52.9% |
| Financial charges65/66B | - | - | - | €3,426 | €13,726 | €69,451 | €8,322 | ▼ 88.0% |
| Recurring financial charges65 | €4,600 | €1,094 | €2,481 | €3,426 | €13,726 | €69,451 | €8,322 | ▼ 88.0% |
| Profit (loss) for the period before taxes9903 | €49,537 | €37,638 | €376,993 | €17,193 | €5,766 | €247,984 | €32,225 | ▼ 87.0% |
| Transfer from deferred taxes780 | - | - | - | €669 | €2,345 | €3,431 | €3,431 | = |
| Income taxes67/77 | €8,768 | €10,087 | €8,183 | €4,492 | €5,370 | €62,587 | €14,130 | ▼ 77.4% |
| Profit (loss) for the period9904 | €38,092 | €28,220 | €283,710 | €13,371 | €2,740 | €188,828 | €21,525 | ▼ 88.6% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,562 | €6,587 | €10,292 | €10,292 | = |
| Profit (loss) for the period to be appropriated9905 | €31,844 | €29,782 | €27,965 | €14,933 | €9,328 | €199,120 | €31,817 | ▼ 84.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.3m | €0.4m | €0.7m | €0.7m | €1.3m | €1.4m | €1.0m | ▼ 24.6% |
| Fixed assets21/28 | €0.3m | €0.4m | €0.3m | €0.4m | €0.7m | €1.0m | €0.9m | ▼ 5.4% |
| Tangible fixed assets22/27 | €0.3m | €0.4m | €0.3m | €0.4m | €0.7m | €1.0m | €0.9m | ▼ 5.4% |
| Land and buildings22 | - | - | - | €0.4m | €0.7m | €1.0m | €0.9m | ▼ 5.4% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.001m | - | - | - |
| Current assets29/58 | €0.04m | €0.01m | €0.5m | €0.2m | €0.5m | €0.4m | €0.08m | ▼ 76.8% |
| Stocks and contracts in progress3 | - | - | - | - | €0.4m | - | - | - |
| Stocks30/36 | - | - | - | - | €0.4m | - | - | - |
| Amounts receivable within one year40/41 | €0.009m | €0.006m | €0.007m | €0.006m | €0.02m | €0.2m | €0.01m | ▼ 90.8% |
| Trade receivables40 | - | - | - | €0.003m | €0.02m | €0.008m | €0.01m | ▲ 88.4% |
| Other amounts receivable41 | - | - | - | €0.003m | €0.002m | €0.2m | €1 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €0.03m | €0.006m | €0.5m | €0.2m | €0.1m | €0.2m | €0.07m | ▼ 66.3% |
| Deferred charges and accrued income490/1 | - | - | - | €137 | - | €0.005m | €0.002m | ▼ 55.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.3m | €0.4m | €0.7m | €0.7m | €1.3m | €1.4m | €1.0m | ▼ 24.6% |
| Equity10/15 | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 3.1% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.2m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 3.9% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 4.4% |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 2.9% |
| Profit (loss) carried forward14 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.05m | €0.05m | ▲ 0.6% |
| Provisions and deferred taxes16 | €0.003m | €0.002m | €0.09m | €0.09m | €0.08m | €0.08m | €0.07m | ▼ 4.4% |
| Deferred taxes168 | - | - | - | €0.09m | €0.08m | €0.08m | €0.07m | ▼ 4.4% |
| Amounts payable17/49 | €0.1m | €0.2m | €0.1m | €0.1m | €0.7m | €0.9m | €0.5m | ▼ 37.2% |
| Amounts payable after more than one year17 | €0.04m | €0.1m | €0.08m | €0.05m | €0.2m | €0.5m | €0.4m | ▼ 6.8% |
| Financial debts170/4 | - | - | - | €0.05m | €0.04m | €0.5m | €0.4m | ▼ 6.8% |
| Other amounts payable178/9 | - | - | - | - | €0.2m | - | - | - |
| Amounts payable within one year42/48 | €0.06m | €0.06m | €0.07m | €0.07m | €0.5m | €0.4m | €0.09m | ▼ 75.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.3m | €0.03m | €0.03m | ▲ 1.5% |
| Trade debts44 | €140 | - | €0.001m | €0.003m | €0.2m | €0.01m | €0.01m | ▲ 28.0% |
| Suppliers440/4 | - | - | - | €0.003m | €0.2m | €0.01m | €0.01m | ▲ 28.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.004m | €0.1m | €0.007m | ▼ 94.5% |
| Taxes450/3 | - | - | - | €0.007m | €0.003m | €0.1m | €0.007m | ▼ 94.5% |
| Remuneration and social security454/9 | - | - | - | - | €0.001m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.02m | €0.2m | €0.04m | ▼ 81.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,092 | €28,220 | €283,710 | €13,371 | €2,740 | €188,828 | €21,525 | ▼ 88.6% |
| + Depreciation and write-downs630 | €28,020 | €37,770 | €33,171 | €34,818 | €44,255 | €53,831 | €53,373 | ▼ 0.9% |
| Operating cash flow (approximation) | €66,112 | €65,990 | €316,882 | €48,188 | €46,996 | €242,659 | €74,899 | ▼ 69.1% |
| Investment in fixed assets (approximation) | - | -€135,656 | €105,234 | -€219,235 | -€321,591 | - | €0 | - |
| Change in cash | - | -€21,180 | €460,126 | -€226,419 | -€143,670 | - | -€133,873 | - |
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, 14,766 companies had the same profile as IMMODEL has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMODEL itself: 0.1% 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 14,766 companies, not a prediction for IMMODEL. 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 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-06-2026 | 2026-00189839 | |
| 31-12-2024 | micro format | 24-03-2025 | 2025-00053689 | |
| 31-12-2022 | micro format | 09-06-2023 | 2023-00120400 | |
| 31-12-2021 | micro format | 26-07-2022 | 2022-20233074 | |
| 31-12-2020 | micro format | 23-07-2021 | 2021-39100371 | |
| 31-12-2019 | micro format | 04-09-2020 | 2020-51500325 | |
| 31-12-2018 | micro format | 26-07-2019 | 2019-40100026 | |
| 31-12-2017 | micro format | 23-07-2018 | 2018-37100120 | |
| 31-12-2016 | micro format | 25-07-2017 | 2017-36400031 | |
| 31-12-2015 | full format | 20-07-2016 | 2016-34100366 |
Board & ownership
Directors
Owners and capital
Shareholders
- DELAHAUT Pierre Lambert Ernest Ghislain 251 shares
- VAN DIJCK Anna Maria Francisca 209 shares
- DELAHAUT François Emile Marie Albert Frans 20 shares
- DELAHAUT Frédéric Albert Michel 20 shares
Capital transactions
- 01-12-2023 Converted to unavailable equity
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| DELAHAUT Pierre |
|
| Anna Van Dyck |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Commun accord ou à défaut expert choisi commun accord ou à défaut président Tribunal de l'entreprise du siège siégeant comme en référé à…”
Articles of association, deed of 01-12-2023 (in French)
Network & group
IMMODEL shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of IMMODEL. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
01-12
Gazette deed
Legal-form changeShareholding · Board composition · Capital conversion16 points ▸
- General meeting, “unanimité des voix, adoption des statuts nouveaux” (deed in French)
- General meeting, “unanimité des voix, veiller à la coordination des statuts de la Société” (deed in French)
- Other provision, “autorisations et licences préalables pour exercice de l'objet social, société pourrait devoir se procurer autorisations et licences préalables requises par régl…” (deed in French)
- General meeting, “ordre du jour épuisé”, 12:15 (deed in French)
- General meeting, 21-11-2023
- DELAHAUT Pierre Lambert Ernest Ghislain holds 251 shares
- VAN DIJCK Anna Maria Francisca holds 209 shares
- DELAHAUT François Emile Marie Albert Frans holds 20 shares
- DELAHAUT Frédéric Albert Michel holds 20 shares
- Other provision, 500, “totalité des actions émises” (deed in French)
- Other provision, “adapter les statuts aux dispositions du Code des Sociétés et des Associations, adapter le capital au Code des Sociétés et des Associations” (deed in French)
- Board composition, DELAHAUT Pierre Lambert Ernest Ghislain (director)
- The act holds 4 more points.
30-11
Gazette deed
Appointment: Anna Van Dyck (director)2 points ▸
- General meeting, 15-11-2022
- Director appointment, Anna Van Dyck (director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
2 activities
- L’organisation, la réalisation et l’exploitation de services et de gestion comptables et informatiques
- La réalisation de toutes opérations relatives à la gestion, à la location et à l’exploitation d’immeubles commerciaux ou privés, l’achat et la vente de tels immeubles
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92094C1014/00C000 | Wallonia | 93 m² | 1 · 135 m² | 20.9 m · 5 |
| 92094C1432/00B000 | Wallonia | 53 m² | 1 · 56 m² | 19.8 m · 6 |