IMMODEL
ActiveSummary
IMMODEL has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €264,094 and a net result of -€22,842. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 4616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-81
Solvency100=
Growth39▼-46
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Three 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
53 d late
2024
63 d late
2023
64 d late
2022
66 d late
2021
122 d late
2020
131 d late
2019
93 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 85 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. Usually files around 4 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€2,260▼ 97.6%
2024 · €92,516
EBIT margin
-196.6%▼ 272.2pp
2024 · 75.6%
Net result
-€22,842
2024 · €69,878
Working capital
€259,173▼ 8.1%
2024 · €282,015
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
Turnover€24,953▲ 2,060%€995▼ 96.0%€25,863▲ 2,499%€92,516▲ 258%€2,260▼ 97.6%
Operating result€13,108-€2,114€17,531€69,935▲ 299%-€4,444
Net result€13,020within the sector's middle half-€2,270within the sector's middle half€17,401within the sector's middle half€69,878within the sector's middle half▲ 302%-€22,842within the sector's middle half
EBIT margin52.5%▲ 81.3pp-212.5%▼ 265.0pp67.8%▲ 280.3pp75.6%▲ 7.8pp-196.6%▼ 272.2pp
Equity€201,927within the sector's middle half▲ 6.9%€199,657within the sector's middle half▼ 1.1%€217,058within the sector's middle half▲ 8.7%€286,936within the sector's middle half▲ 32.2%€264,094within the sector's middle half▼ 8.0%
Total assets€206,691below the sector's middle half▲ 9.2%€200,022below the sector's middle half▼ 3.2%€217,282below the sector's middle half▲ 8.6%€291,946below the sector's middle half▲ 34.4%€265,836below the sector's middle half▼ 8.9%
Debt€4,763▲ 1,056%€365▼ 92.3%€224▼ 38.7%€5,010▲ 2,137%€1,742▼ 65.2%
Working capital€197,007within the sector's middle half▲ 7.2%€194,736within the sector's middle half▼ 1.2%€212,137within the sector's middle half▲ 8.9%€282,015within the sector's middle half▲ 32.9%€259,173within the sector's middle half▼ 8.1%
Solvency97.7%above the sector's middle half▼ 2.1pp99.8%above the sector's middle half▲ 2.1pp99.9%above the sector's middle half▲ 0.1pp98.3%above the sector's middle half▼ 1.6pp99.3%above the sector's middle half▲ 1.1pp
Current ratio42.36above the sector's middle half57.29above the sector's middle half
Return on assets (ROA)6.3%above the sector's middle half▲ 6.5pp-1.1%below the sector's middle half▼ 7.4pp8.0%above the sector's middle half▲ 9.1pp23.9%above the sector's middle half▲ 15.9pp-8.6%below the sector's middle half▼ 32.5pp
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.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,444 after €69,935 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €265,836
Fixed assets
€4,921 =
Current assets
€260,915 ▼ 9.1%
Equity and liabilities €265,836
Equity
€264,094 ▼ 8.0%
Debt
€1,742 ▼ 65.2%
Debt's share of the balance-sheet total falls from 1.7% to 0.7%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.02
ROE
-8.6%▼
2024 · 24.4%
Debt ≤ 1 year
€1,742▼
2024 · €5,010
Income taxes
€18,240
A ratio outside any meaningful range has been withheld (balance sheet total €265,836, equity €264,094).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,910 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €24,953 | €995 | €25,863 | €92,516 | €2,260 | ▼ 97.6% |
| Goods, raw materials, services and sundry goods60/61 | €10,853 | €2,350 | €7,833 | €21,968 | €6,176 | ▼ 71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €143 | - | - | - | - | - |
| Other operating charges640/8 | €849 | €760 | €499 | €613 | €528 | ▼ 13.9% |
| Gross operating margin9900 | €14,100 | -€1,355 | €18,030 | €70,548 | -€3,916 | ▼ 106% |
| Operating profit (loss)9901 | €13,108 | -€2,114 | €17,531 | €69,935 | -€4,444 | ▼ 106% |
| Financial charges65/66B | €88 | €156 | €130 | €57 | €158 | ▲ 177% |
| Recurring financial charges65 | €88 | €156 | €130 | €57 | €158 | ▲ 177% |
| Profit (loss) for the period before taxes9903 | €13,020 | -€2,270 | €17,401 | €69,878 | -€4,602 | ▼ 107% |
| Income taxes67/77 | - | - | - | - | €18,240 | - |
| Profit (loss) for the period9904 | €13,020 | -€2,270 | €17,401 | €69,878 | -€22,842 | ▼ 133% |
| Profit (loss) for the period to be appropriated9905 | €13,020 | -€2,270 | €17,401 | €69,878 | -€22,842 | ▼ 133% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €206,691 | €200,022 | €217,282 | €291,946 | €265,836 | ▼ 8.9% |
| Fixed assets21/28 | €4,921 | €4,921 | €4,921 | €4,921 | €4,921 | = |
| Tangible fixed assets22/27 | €4,921 | €4,921 | €4,921 | €4,921 | €4,921 | = |
| Plant, machinery and equipment23 | €4,921 | €4,921 | €4,921 | €4,921 | €4,921 | = |
| Current assets29/58 | €201,770 | €195,102 | €212,361 | €287,025 | €260,915 | ▼ 9.1% |
| Stocks and contracts in progress3 | €27,846 | €29,802 | €23,281 | €8,684 | €8,684 | = |
| Stocks30/36 | €27,846 | €29,802 | €23,281 | €8,684 | €8,684 | = |
| Amounts receivable within one year40/41 | - | - | - | €3,837 | €814 | ▼ 78.8% |
| Trade receivables40 | - | - | - | €3,837 | - | - |
| Other amounts receivable41 | - | - | - | - | €814 | - |
| Cash at bank and in hand54/58 | €173,924 | €165,300 | €189,080 | €274,504 | €251,417 | ▼ 8.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €206,691 | €200,022 | €217,282 | €291,946 | €265,836 | ▼ 8.9% |
| Equity10/15 | €201,927 | €199,657 | €217,058 | €286,936 | €264,094 | ▼ 8.0% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Capital10 | - | - | €200,000 | €200,000 | €200,000 | = |
| Issued capital100 | - | - | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Non-distributable reserves130/1 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves not available under the articles1311 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€18,073 | -€20,343 | -€2,942 | €66,936 | €44,094 | ▼ 34.1% |
| Amounts payable17/49 | €4,763 | €365 | €224 | €5,010 | €1,742 | ▼ 65.2% |
| Amounts payable within one year42/48 | €4,763 | €365 | €224 | €5,010 | €1,742 | ▼ 65.2% |
| Trade debts44 | €112 | - | - | - | - | - |
| Suppliers440/4 | €112 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €4,551 | - | €124 | - | - | - |
| Taxes450/3 | €4,551 | - | €124 | - | - | - |
| Other amounts payable47/48 | €100 | €365 | €100 | €5,010 | €1,742 | ▼ 65.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,020 | -€2,270 | €17,401 | €69,878 | -€22,842 | ▼ 133% |
| + Depreciation and write-downs630 | €143 | - | - | - | - | - |
| Operating cash flow (approximation) | €13,163 | -€2,270 | €17,401 | €69,878 | -€22,842 | ▼ 133% |
| Investment in fixed assets (approximation) | - | €0 | -€0 | €0 | €0 | - |
| Change in cash | - | -€8,624 | €23,780 | €85,424 | -€23,087 | ▼ 127% |
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
22-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 53 days late
2025
31-12
Financial
Weakest financial yearnet -€22,842
Net result drops to -€22,842, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 149.78
Current ratio from 57.29 to 149.78; short-term debt falls from €5,010 to €1,742.
02-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 63 days late
2024
31-12
Financial
Highest result since 2018net €69,878 ▲302%
Operating result €69,935, net result €69,878, both a record.
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 64 days late
2023
31-12
Financial
Back to profitnet €17,401
Net result €17,401 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €217,058 ▲8.7%
Equity rises from €199,657 to €217,058.
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 66 days late
2022
31-12
Financial
Liquidity times 13current ratio 534.07
Current ratio from 42.36 to 534.07; short-term debt falls from €4,763 to €365.
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 122 days late
2021
31-12
Financial
Back to profitnet €13,020
Net result €13,020 after one loss-making year.
Show earlier events
31-12
Financial
Equity above €200,000Eq €201,927 ▲6.9%
Equity rises from €188,907 to €201,927.
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 131 days late
2020
01-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 93 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 689.05
Current ratio from 165.00 to 689.05; short-term debt falls from €1,070 to €268.
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 86 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Middelkerke · 1 establishment unit since 2007
Ground area
145 m²
Building footprint
88 m²
Volume, LiDAR
502 m³
Parcel 35009B0505/00F003, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
IMMODEL
since 20072.166.298.129
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35009B0505/00F003 | Flanders | 145 m² | 1 · 88 m² | 10.6 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.
Structure & network
Owners and holdings
1 ownerOwners 1
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
No current directors or connected companies found in the register.
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Of 11,755 companies in sector 68310 we hold annual accounts for 6,912. 5,046 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded04-07-2007
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0890599461
Registered
24-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.