IMMODER
ActiveSummary
IMMODER has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.3m and a net result of €341,503. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 19362 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability87▼-3
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190,000 at 30 days acceptable
Liquidity ample (current ratio 5.76 against 8.26 in 2023; short-term debt: 2.2% and cash: 4.7% of total assets), and 3.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 2024Solvency, return and age of the figures
Solvency
96.6%
Return on assets
14.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-06-2025, 40 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
40 d early
2023
45 d early
2022
28 d early
2021
34 d early
2020
27 d late
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 23 days before 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€2.3m▼ 10.2%
2023 · €2.5m
Total assets
€2.4m▼ 9.0%
2023 · €2.6m
Net result
€341,503▼ 22.6%
2023 · €441,134
Working capital
€248,126▼ 27.0%
2023 · €339,984
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
Line20202021202220232024
Operating result€277,362▼ 7.5%€290,519▲ 4.7%€340,122▲ 17.1%€385,847▲ 13.4%€375,996▼ 2.6%
Net result€208,033above the sector's middle half▼ 1.2%€220,542above the sector's middle half▲ 6.0%€259,317above the sector's middle half▲ 17.6%€441,134above the sector's middle half▲ 70.1%€341,503above the sector's middle half▼ 22.6%
Equity€2.7mabove the sector's middle half▼ 6.5%€2.8mabove the sector's middle half▲ 3.7%€2.5mabove the sector's middle half▼ 12.0%€2.5mabove the sector's middle half▲ 1.6%€2.3mabove the sector's middle half▼ 10.2%
Total assets€2.9mabove the sector's middle half▼ 3.8%€2.9mabove the sector's middle half▼ 0.1%€2.6mabove the sector's middle half▼ 11.4%€2.6mabove the sector's middle half▲ 1.8%€2.4mabove the sector's middle half▼ 9.0%
Debt€142,860▲ 122%€38,350▼ 73.2%€51,025▲ 33.1%€55,122▲ 8.0%€79,631▲ 44.5%
Working capital€48,220▼ 52.5%€304,642▲ 532%€181,182▼ 40.5%€339,984▲ 87.6%€248,126▼ 27.0%
Solvency95.0%above the sector's middle half▼ 2.8pp98.7%above the sector's middle half▲ 3.6pp98.0%above the sector's middle half▼ 0.7pp97.9%above the sector's middle half▼ 0.1pp96.6%above the sector's middle half▼ 1.2pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 3% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.4m
Fixed assets
€2.1m ▼ 6.7%
Current assets
€300,268 ▼ 22.4%
Equity and liabilities €2.4m
Equity
€2.3m ▼ 10.2%
Debt
€79,631 ▲ 44.5%
Debt's share of the balance-sheet total rises from 2.1% to 3.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€523,449▼
2023 · €534,233
Cash flow
€488,956▼
2023 · €589,521
Current ratio
5.76▼
2023 · 8.26
Debt to equity
0.03▲
2023 · 0.02
ROE
15.0%▼
2023 · 17.4%
ROA
14.5%▼
2023 · 17.0%
Interest coverage
3489.66▲
2023 · 169.60
Debt ≤ 1 year
€52,142▲
2023 · €46,819
Income taxes
€102,508▲
2023 · €95,410
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €89,540 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €156,276 | €156,863 | €149,134 | €148,387 | €147,453 | ▼ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €8,160 | - | €3,165 | - |
| Other operating charges640/8 | - | €60,945 | €77,404 | €68,101 | €63,307 | ▼ 7.0% |
| Gross operating margin9900 | €487,571 | €508,327 | €574,820 | €602,334 | €589,921 | ▼ 2.1% |
| Operating profit (loss)9901 | €277,362 | €290,519 | €340,122 | €385,847 | €375,996 | ▼ 2.6% |
| Financial income75/76B | - | €2,814 | €6,326 | €153,847 | €68,165 | ▼ 55.7% |
| Recurring financial income75 | €1,690 | €2,814 | €6,326 | €153,847 | €68,165 | ▼ 55.7% |
| Financial charges65/66B | - | €143 | €150 | €3,150 | €150 | ▼ 95.2% |
| Recurring financial charges65 | €217 | €143 | €150 | €3,150 | €150 | ▼ 95.2% |
| Profit (loss) for the period before taxes9903 | €278,835 | €293,191 | €346,298 | €536,544 | €444,011 | ▼ 17.2% |
| Income taxes67/77 | €70,802 | €72,648 | €86,981 | €95,410 | €102,508 | ▲ 7.4% |
| Profit (loss) for the period9904 | €208,033 | €220,542 | €259,317 | €441,134 | €341,503 | ▼ 22.6% |
| Transfer from tax-exempt reserves789 | - | - | - | €105,250 | - | - |
| Transfer to tax-exempt reserves689 | - | €92,620 | - | €12,630 | - | - |
| Profit (loss) for the period to be appropriated9905 | €208,033 | €127,922 | €259,317 | €533,754 | €341,503 | ▼ 36.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €2.9m | €2.6m | €2.6m | €2.4m | ▼ 9.0% |
| Fixed assets21/28 | €2.7m | €2.6m | €2.4m | €2.2m | €2.1m | ▼ 6.7% |
| Tangible fixed assets22/27 | €1.7m | €1.6m | €1.2m | €1.0m | €861,143 | ▼ 14.6% |
| Land and buildings22 | - | €1.4m | €992,018 | €884,222 | €776,426 | ▼ 12.2% |
| Plant, machinery and equipment23 | - | €206,303 | €164,965 | €124,374 | €84,716 | ▼ 31.9% |
| Financial fixed assets28 | €984,000 | €984,000 | €1.2m | €1.2m | €1.2m | = |
| Current assets29/58 | €172,229 | €321,947 | €193,185 | €386,803 | €300,268 | ▼ 22.4% |
| Amounts receivable within one year40/41 | - | €9,743 | €5,958 | €213,775 | - | - |
| Trade receivables40 | - | €9,743 | €5,958 | €1,775 | - | - |
| Other amounts receivable41 | - | - | - | €212,000 | - | - |
| Cash at bank and in hand54/58 | €121,392 | €290,192 | €48,338 | €139,337 | €110,507 | ▼ 20.7% |
| Deferred charges and accrued income490/1 | - | €22,012 | €138,890 | €33,691 | €189,762 | ▲ 463% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €2.9m | €2.6m | €2.6m | €2.4m | ▼ 9.0% |
| Equity10/15 | €2.7m | €2.8m | €2.5m | €2.5m | €2.3m | ▼ 10.2% |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Reserves13 | €116,132 | €208,752 | €208,752 | €221,382 | €221,382 | = |
| Non-distributable reserves130/1 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Legal reserve130 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Tax-exempt reserves132 | - | €148,541 | €148,541 | €55,921 | €55,921 | = |
| Distributable reserves133 | - | €53,961 | €53,961 | €159,211 | €159,211 | = |
| Profit (loss) carried forward14 | €2.6m | €2.6m | €2.2m | €2.3m | €2.0m | ▼ 11.5% |
| Amounts payable17/49 | €142,860 | €38,350 | €51,025 | €55,122 | €79,631 | ▲ 44.5% |
| Amounts payable within one year42/48 | €124,009 | €17,305 | €12,004 | €46,819 | €52,142 | ▲ 11.4% |
| Trade debts44 | €8,806 | €2,905 | €2,933 | €39,131 | €3,068 | ▼ 92.2% |
| Suppliers440/4 | - | €2,905 | €2,933 | €39,131 | €3,068 | ▼ 92.2% |
| Taxes, remuneration and social security45 | - | €10,590 | €4,871 | €6,379 | €48,854 | ▲ 666% |
| Taxes450/3 | - | €10,590 | €4,871 | €6,379 | €48,854 | ▲ 666% |
| Other amounts payable47/48 | - | €3,810 | €4,200 | €1,310 | €220 | ▼ 83.2% |
| Accrued charges and deferred income492/3 | - | €21,045 | €39,021 | €8,302 | €27,489 | ▲ 231% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €208,033 | €220,542 | €259,317 | €441,134 | €341,503 | ▼ 22.6% |
| + Depreciation and write-downs630 | €156,276 | €156,863 | €149,134 | €148,387 | €147,453 | ▼ 0.6% |
| Operating cash flow (approximation) | €364,309 | €377,406 | €408,451 | €589,521 | €488,956 | ▼ 17.1% |
| Investment in fixed assets (approximation) | - | -€3,177 | €50,113 | €0 | €0 | - |
| Change in cash | - | €168,800 | -€241,854 | €90,999 | -€28,830 | ▼ 132% |
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
2025
21-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €441,134 ▲70.1%
Operating result €385,847, net result €441,134, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 13current ratio 18.60
Current ratio from 1.39 to 18.60; short-term debt falls from €124,009 to €17,305.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Weakest financial yearnet €208,033 ▼1.2%
Net result drops to €208,033, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 4.10
Current ratio from 1.90 to 4.10; short-term debt falls from €80,476 to €32,731.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
06-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Flobecq · 1 establishment unit since 1994
Ground area
2,963 m²
Building footprint
444 m²
Volume, LiDAR
4,007 m³
Parcel 51019F0943/00R000, Wallonia · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
IMMODER SA
since 19942.065.354.583
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51019F0943/00R000 | Wallonia | 2,963 m² | 1 · 444 m² | 11.6 m · 3 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 owner · 1 holdingChain of control
- ENTREPRISES GENERALES DHERTE
- IMMODER
Highest known parent: ENTREPRISES GENERALES DHERTE. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 1
-
100%
According to the 2024 annual accounts of IMMODER 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
No current directors or connected companies found in the register.
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 3,511 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
Founded24-12-1993
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
0208:0451821149
Also
9925:BE0451821149
Registered
27-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.