Summary
IMMODEM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €86,676 and a net result of -€28,332. Equity is shrinking by about 10% per year across the filed financial years. Its solvency ranks better than 34% of 1,840 sector peers (NACE 66, financial year 2025). The company has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
In the rankings
#7 oldest company in Menen, Finance and insurance sector
Equity
€86,676▼ 24.6%
2024 · €115,008
Net result
-€28,332▲ 25.7%
2024 · -€38,111
Total assets
€366,269▼ 9.1%
2024 · €403,044
Solvency
23.7%▼ 4.9pp
2024 · 28.5%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €18,648 in 2025 against €26,120 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€18,648
2025
Net result-€28,332
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€366,269
2025
Equity€86,676
2025
Debt€249,085
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€118,569
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-7.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency23.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.52
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€9,675--€16,463▼ 70.2%-€6,660▲ 59.5%-€871▲ 86.9%-€1,849▼ 112%-€5,402▼ 192%-€26,120▼ 384%-€18,648▲ 28.6%
Net result-€15,791--€22,582▼ 43.0%-€12,985below the sector's middle half▲ 42.5%-€9,907below the sector's middle half▲ 23.7%-€10,416below the sector's middle half▼ 5.1%-€13,068below the sector's middle half▼ 25.5%-€38,111below the sector's middle half▼ 192%-€28,332below the sector's middle half▲ 25.7%
Equity€222,076-€199,494▼ 10.2%€186,510within the sector's middle half▼ 6.5%€176,603within the sector's middle half▼ 5.3%€166,187within the sector's middle half▼ 5.9%€153,119within the sector's middle half▼ 7.9%€115,008within the sector's middle half▼ 24.9%€86,676within the sector's middle half▼ 24.6%
Total assets€539,671-€509,759▼ 5.5%€503,806within the sector's middle half▼ 1.2%€477,380within the sector's middle half▼ 5.2%€495,702within the sector's middle half▲ 3.8%€460,197below the sector's middle half▼ 7.2%€403,044below the sector's middle half▼ 12.4%€366,269below the sector's middle half▼ 9.1%
Debt€252,845-€253,364▲ 0.2%€266,967▲ 5.4%€254,413▼ 4.7%€287,115▲ 12.9%€268,642▼ 6.4%€253,564▼ 5.6%€249,085▼ 1.8%
Working capital-€41,247--€44,362▼ 7.6%-€39,467below the sector's middle half▲ 11.0%-€45,662below the sector's middle half▼ 15.7%-€100,261below the sector's middle half▼ 120%-€91,848below the sector's middle half▲ 8.4%-€113,179below the sector's middle half▼ 23.2%-€118,569below the sector's middle half▼ 4.8%
Solvency41.2%-39.1%▼ 2.0pp37.0%within the sector's middle half▼ 2.1pp37.0%within the sector's middle half=33.5%within the sector's middle half▼ 3.5pp33.3%within the sector's middle half▼ 0.3pp28.5%within the sector's middle half▼ 4.7pp23.7%within the sector's middle half▼ 4.9pp
Current ratio0.84-0.82▼ 0.010.85below the sector's middle half▲ 0.030.82below the sector's middle half▼ 0.030.65below the sector's middle half▼ 0.170.66below the sector's middle half▲ 0.010.55below the sector's middle half▼ 0.100.52below the sector's middle half▼ 0.03
Return on assets (ROA)-2.9%--4.4%▼ 1.5pp-2.6%below the sector's middle half▲ 1.9pp-2.1%below the sector's middle half▲ 0.5pp-2.1%below the sector's middle half=-2.8%below the sector's middle half▼ 0.7pp-9.5%below the sector's middle half▼ 6.6pp-7.7%below the sector's middle half▲ 1.7pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €366,269
Fixed assets
€235,752 ▼ 10.2%
Current assets
€130,517 ▼ 7.0%
Equity and liabilities €366,269
Equity
€86,676 ▼ 24.6%
Provisions
€30,507 ▼ 11.5%
Debt
€249,085 ▼ 1.8%
Debt's share of the balance-sheet total rises from 62.9% to 68.0%. Equity and debt are lower.
Key figures and ratios
ROE
-32.7%▲
2024 · -33.1%
Debt ≤ 1 year
€249,085▼
2024 · €253,564
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,407 | €30,460 | €24,451 | €18,280 | €18,709 | €26,604 | €26,690 | €26,907 | ▲ 0.8% |
| Other operating charges640/8 | - | - | - | €5,001 | €6,418 | €6,259 | €6,557 | €7,044 | ▲ 7.4% |
| Gross operating margin9900 | €27,487 | €18,412 | €22,757 | €22,410 | €23,279 | €27,460 | €7,126 | €15,303 | ▲ 115% |
| Operating profit (loss)9901 | -€9,675 | -€16,463 | -€6,660 | -€871 | -€1,849 | -€5,402 | -€26,120 | -€18,648 | ▲ 28.6% |
| Financial income75/76B | - | - | - | - | - | - | €0 | €19 | ▲ 191,000% |
| Recurring financial income75 | - | €1 | - | - | - | - | €0 | €19 | ▲ 191,000% |
| Financial charges65/66B | - | - | - | €13,000 | €11,813 | €11,630 | €15,956 | €13,667 | ▼ 14.3% |
| Recurring financial charges65 | €13,966 | €13,971 | €12,896 | €13,000 | €11,813 | €11,630 | €15,956 | €13,667 | ▼ 14.3% |
| Profit (loss) for the period before taxes9903 | -€23,641 | -€30,432 | -€19,556 | -€13,871 | -€13,662 | -€17,032 | -€42,075 | -€32,297 | ▲ 23.2% |
| Transfer from deferred taxes780 | - | - | - | €3,964 | €3,964 | €3,964 | €3,964 | €3,964 | = |
| Income taxes67/77 | - | - | - | - | €719 | - | - | - | - |
| Profit (loss) for the period9904 | -€15,791 | -€22,582 | -€12,985 | -€9,907 | -€10,416 | -€13,068 | -€38,111 | -€28,332 | ▲ 25.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €7,699 | €7,699 | €7,699 | €7,699 | €7,699 | = |
| Profit (loss) for the period to be appropriated9905 | -€545 | -€7,337 | -€223 | -€2,208 | -€2,717 | -€5,369 | -€30,412 | -€20,634 | ▲ 32.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €539,671 | €509,759 | €503,806 | €477,380 | €495,702 | €460,197 | €403,044 | €366,269 | ▼ 9.1% |
| Fixed assets21/28 | €328,074 | €300,757 | €276,305 | €268,630 | €308,848 | €283,404 | €262,659 | €235,752 | ▼ 10.2% |
| Tangible fixed assets22/27 | €328,074 | €300,757 | €276,305 | €268,630 | €308,848 | €283,404 | €262,659 | €235,752 | ▼ 10.2% |
| Land and buildings22 | - | - | - | €253,055 | €241,240 | €229,425 | €217,611 | €205,796 | ▼ 5.4% |
| Plant, machinery and equipment23 | - | - | - | €5,645 | €5,280 | €3,475 | €7,082 | €4,527 | ▼ 36.1% |
| Furniture and vehicles24 | - | - | - | - | €46,328 | €36,548 | €26,768 | €16,988 | ▼ 36.5% |
| Other tangible fixed assets26 | - | - | - | €9,930 | €16,000 | €13,955 | €11,198 | €8,441 | ▼ 24.6% |
| Current assets29/58 | €211,597 | €209,002 | €227,501 | €208,750 | €186,854 | €176,793 | €140,385 | €130,517 | ▼ 7.0% |
| Amounts receivable within one year40/41 | €1,379 | €2,194 | €11,597 | €2,537 | €2,740 | €3,113 | €1,639 | €2,364 | ▲ 44.2% |
| Trade receivables40 | - | - | - | €1,196 | €1,206 | €1,051 | - | - | - |
| Other amounts receivable41 | - | - | - | €1,341 | €1,534 | €2,062 | €1,639 | €2,364 | ▲ 44.2% |
| Cash at bank and in hand54/58 | €210,218 | €206,808 | €215,903 | €206,213 | €184,115 | €173,680 | €138,746 | €128,153 | ▼ 7.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €539,671 | €509,759 | €503,806 | €477,380 | €495,702 | €460,197 | €403,044 | €366,269 | ▼ 9.1% |
| Equity10/15 | €222,076 | €199,494 | €186,510 | €176,603 | €166,187 | €153,119 | €115,008 | €86,676 | ▼ 24.6% |
| Contributions10/11 | €62,000 | €62,000 | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €186,418 | €171,173 | €158,411 | €150,712 | €143,013 | €135,314 | €127,616 | €119,917 | ▼ 6.0% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €90,042 | €82,343 | €74,644 | €66,946 | €59,247 | ▼ 11.5% |
| Distributable reserves133 | - | - | - | €54,470 | €54,470 | €60,670 | €60,670 | €60,670 | = |
| Profit (loss) carried forward14 | -€26,342 | -€33,678 | -€33,901 | -€36,109 | -€38,826 | -€44,195 | -€74,607 | -€95,241 | ▼ 27.7% |
| Provisions and deferred taxes16 | €64,750 | €56,900 | €50,329 | €46,364 | €42,400 | €38,436 | €34,472 | €30,507 | ▼ 11.5% |
| Deferred taxes168 | - | - | - | €46,364 | €42,400 | €38,436 | €34,472 | €30,507 | ▼ 11.5% |
| Amounts payable17/49 | €252,845 | €253,364 | €266,967 | €254,413 | €287,115 | €268,642 | €253,564 | €249,085 | ▼ 1.8% |
| Amounts payable within one year42/48 | €252,845 | €253,364 | €266,967 | €254,413 | €287,115 | €268,642 | €253,564 | €249,085 | ▼ 1.8% |
| Trade debts44 | €71 | €134 | €1,732 | €179 | €475 | €186 | €436 | €572 | ▲ 31.2% |
| Suppliers440/4 | - | - | - | €179 | €475 | €186 | €436 | €572 | ▲ 31.2% |
| Other amounts payable47/48 | - | - | - | €254,234 | €286,640 | €268,455 | €253,128 | €248,513 | ▼ 1.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,791 | -€22,582 | -€12,985 | -€9,907 | -€10,416 | -€13,068 | -€38,111 | -€28,332 | ▲ 25.7% |
| + Depreciation and write-downs630 | €32,407 | €30,460 | €24,451 | €18,280 | €18,709 | €26,604 | €26,690 | €26,907 | ▲ 0.8% |
| Operating cash flow (approximation) | €16,616 | €7,878 | €11,467 | €8,373 | €8,293 | €13,536 | -€11,422 | -€1,425 | ▲ 87.5% |
| Investment in fixed assets (approximation) | - | -€3,143 | €0 | -€10,604 | -€58,927 | -€1,159 | -€5,945 | €0 | - |
| Change in cash | - | -€3,410 | €9,095 | -€9,690 | -€22,099 | -€10,435 | -€34,934 | -€10,593 | ▲ 69.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-07-2026 | 2026-00358603 |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00344534 |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00178294 |
| 31-12-2022 | abbreviated format | 23-06-2023 | 2023-00157885 |
| 31-12-2021 | abbreviated format | 21-06-2022 | 2022-20083371 |
| 31-12-2020 | abbreviated format | 05-07-2021 | 2021-31100524 |
| 31-12-2019 | abbreviated format | 15-07-2020 | 2020-31000081 |
| 31-12-2018 | abbreviated format | 17-06-2019 | 2019-19200361 |
| 31-12-2017 | abbreviated format | 14-06-2018 | 2018-18700101 |
| 31-12-2016 | abbreviated format | 29-06-2017 | 2017-24100353 |
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Of the 1,468 active companies whose main activity is other activities auxiliary to financial services, excluding insurance and pension funding (NACE 66199), figures are known for 925. 609 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.