IMMODEL SRL
ActiveSummary
IMMODEL SRL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€232,044) and a net result of -€23,386. Equity is shrinking by ~3.4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability3▼-61
Solvency0=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.03 against 0.14 in 2023; short-term debt: 221.1% and cash: 5.4% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-121.5%
Return on assets
-12.2%
Age of the figures
21 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 d early
2024
25 d late
2023
on the day
2022
7 d late
2021
4 d late
2020
36 d early
2019
45 d early
← 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 13 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 August (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 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€23,386▼ 219%
2023 · -€7,321
Working capital
-€410,961▼ 16.9%
2023 · -€351,589
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result-€6,225▲ 21.4%-€22,463▼ 261%€9,520-€7,249-€23,617▼ 226%
Net result-€5,684below the sector's middle half▲ 27.6%-€22,336below the sector's middle half▼ 293%€10,895within the sector's middle half-€7,321below the sector's middle half-€23,386below the sector's middle half▼ 219%
Equity-€189,896below the sector's middle half▼ 3.1%-€212,232below the sector's middle half▼ 11.8%-€201,337below the sector's middle half▲ 5.1%-€208,658below the sector's middle half▼ 3.6%-€232,044below the sector's middle half▼ 11.2%
Total assets€201,338within the sector's middle half▼ 5.0%€172,769within the sector's middle half▼ 14.2%€178,976within the sector's middle half▲ 3.6%€201,449within the sector's middle half▲ 12.6%€191,004within the sector's middle half▼ 5.2%
Debt€391,234▼ 1.3%€385,001▼ 1.6%€380,314▼ 1.2%€410,107▲ 7.8%€423,048▲ 3.2%
Working capital-€376,201below the sector's middle half▲ 1.6%-€375,558below the sector's middle half▲ 0.2%-€351,072below the sector's middle half▲ 6.5%-€351,589below the sector's middle half▼ 0.1%-€410,961below the sector's middle half▼ 16.9%
Solvency-94.3%below the sector's middle half▼ 7.4pp-122.8%below the sector's middle half▼ 28.5pp-112.5%below the sector's middle half▲ 10.3pp-103.6%below the sector's middle half▲ 8.9pp-121.5%below the sector's middle half▼ 17.9pp
Current ratio0.04below the sector's middle half▲ 0.010.02below the sector's middle half▼ 0.010.08below the sector's middle half▲ 0.050.14below the sector's middle half▲ 0.070.03below the sector's middle half▼ 0.11
Return on assets (ROA)-2.8%below the sector's middle half▲ 0.9pp-12.9%below the sector's middle half▼ 10.1pp6.1%within the sector's middle half▲ 19.0pp-3.6%within the sector's middle half▼ 9.7pp-12.2%below the sector's middle half▼ 8.6pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €23,617 in 2024 against €7,249 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €191,004
Fixed assets
€179,726 ▲ 25.0%
Current assets
€11,277 ▼ 80.5%
Key figures and ratios
EBITDA
-€2,142▼
2023 · €3,596
Cash flow
-€1,912▼
2023 · €3,524
Debt to equity
-1.82▲
2023 · -1.97
Interest coverage
-51.99▼
2023 · 107.25
Debt ≤ 1 year
€422,238▲
2023 · €409,297
Income taxes
€192▲
2023 · €146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,621 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.5%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 6,621 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,189 | €23,079 | €13,591 | €10,845 | €21,474 | ▲ 98.0% |
| Other operating charges640/8 | - | €1,723 | €1,422 | €1,478 | €4,418 | ▲ 199% |
| Gross operating margin9900 | €17,878 | €2,339 | €24,533 | €5,074 | €2,276 | ▼ 55.2% |
| Operating profit (loss)9901 | -€6,225 | -€22,463 | €9,520 | -€7,249 | -€23,617 | ▼ 226% |
| Financial income75/76B | - | €363 | €1,662 | €107 | €464 | ▲ 335% |
| Recurring financial income75 | €839 | €363 | €1,662 | €107 | €464 | ▲ 335% |
| Financial charges65/66B | - | €48 | €52 | €34 | €41 | ▲ 22.9% |
| Recurring financial charges65 | €111 | €48 | €52 | €34 | €41 | ▲ 22.9% |
| Profit (loss) for the period before taxes9903 | -€5,497 | -€22,147 | €11,131 | -€7,176 | -€23,194 | ▼ 223% |
| Income taxes67/77 | €188 | €188 | €236 | €146 | €192 | ▲ 32.0% |
| Profit (loss) for the period9904 | -€5,684 | -€22,336 | €10,895 | -€7,321 | -€23,386 | ▼ 219% |
| Profit (loss) for the period to be appropriated9905 | -€5,684 | -€22,336 | €10,895 | -€7,321 | -€23,386 | ▼ 219% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €201,338 | €172,769 | €178,976 | €201,449 | €191,004 | ▼ 5.2% |
| Fixed assets21/28 | €186,955 | €163,976 | €150,385 | €143,741 | €179,726 | ▲ 25.0% |
| Tangible fixed assets22/27 | €186,955 | €163,976 | €150,385 | €143,741 | €179,726 | ▲ 25.0% |
| Land and buildings22 | - | €161,255 | €150,385 | €140,484 | €130,641 | ▼ 7.0% |
| Plant, machinery and equipment23 | - | - | - | €3,256 | €2,206 | ▼ 32.2% |
| Furniture and vehicles24 | - | €2,722 | - | - | €46,879 | - |
| Current assets29/58 | €14,383 | €8,793 | €28,591 | €57,708 | €11,277 | ▼ 80.5% |
| Amounts receivable within one year40/41 | €2,755 | €1,032 | €392 | €33,896 | €263 | ▼ 99.2% |
| Trade receivables40 | - | €741 | €231 | €31,245 | €263 | ▼ 99.2% |
| Other amounts receivable41 | - | €291 | €161 | €2,651 | - | - |
| Cash at bank and in hand54/58 | €10,813 | €7,046 | €27,913 | €23,105 | €10,277 | ▼ 55.5% |
| Deferred charges and accrued income490/1 | - | €715 | €286 | €706 | €738 | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €201,338 | €172,769 | €178,976 | €201,449 | €191,004 | ▼ 5.2% |
| Equity10/15 | -€189,896 | -€212,232 | -€201,337 | -€208,658 | -€232,044 | ▼ 11.2% |
| Contributions10/11 | - | €18,170 | €18,170 | €18,170 | €18,170 | = |
| Profit (loss) carried forward14 | -€208,066 | -€230,402 | -€219,507 | -€226,829 | -€250,214 | ▼ 10.3% |
| Amounts payable17/49 | €391,234 | €385,001 | €380,314 | €410,107 | €423,048 | ▲ 3.2% |
| Amounts payable after more than one year17 | €650 | €650 | €650 | - | - | - |
| Other amounts payable178/9 | - | €650 | €650 | - | - | - |
| Amounts payable within one year42/48 | €390,584 | €384,351 | €379,664 | €409,297 | €422,238 | ▲ 3.2% |
| Trade debts44 | €360 | €1,006 | €233 | €885 | €729 | ▼ 17.6% |
| Suppliers440/4 | - | €1,006 | €233 | €885 | €729 | ▼ 17.6% |
| Taxes, remuneration and social security45 | - | €376 | €1,169 | €382 | €494 | ▲ 29.4% |
| Taxes450/3 | - | €376 | €1,169 | €382 | €494 | ▲ 29.4% |
| Other amounts payable47/48 | - | €382,969 | €378,262 | €408,031 | €421,015 | ▲ 3.2% |
| Accrued charges and deferred income492/3 | - | - | - | €810 | €810 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,684 | -€22,336 | €10,895 | -€7,321 | -€23,386 | ▼ 219% |
| + Depreciation and write-downs630 | €22,189 | €23,079 | €13,591 | €10,845 | €21,474 | ▲ 98.0% |
| Operating cash flow (approximation) | €16,504 | €743 | €24,486 | €3,524 | -€1,912 | ▼ 154% |
| Investment in fixed assets (approximation) | - | -€100 | €0 | -€4,200 | -€57,460 | ▼ 1,268% |
| Change in cash | - | -€3,767 | €20,867 | -€4,808 | -€12,829 | ▼ 167% |
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
18-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet -€23,386
Net result drops to -€23,386, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
31-12
Financial
Back to profitnet €10,895
Net result €10,895 after 4 loss-making years.
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Bastogne · 1 establishment unit since 1990
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Marvie 1606600 BastogneGround area
1,070 m²
Building footprint
144 m²
Volume, LiDAR
628 m³
Parcel 82034A1383/00M010, Wallonia · tallest building 5.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Rue des Combats(Marvie) 20, 6600 Bastogne
since 19902.050.078.271
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82034A1383/00M010indicative | Wallonia | 1,070 m² | 1 · 144 m² | 5.7 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 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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Messancy
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,719 companies in sector 47521 we hold annual accounts for 1,288. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
47521Retail sale of hardware, building materials, paint and glass (general range)
43222Installation of electric heating, air conditioning, cooling and ventilation
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440821448
Registered
22-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.