IMMODOS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-02-2026 PDF all 36 filings
Turnover
€279,999▼ 53.2%
2024 · €598,838
EBIT margin
-0.3%▼ 51.1pp
2024 · 50.8%
Net result
-€16,265
2024 · €144,765
Working capital
€18,216
2024 · -€18,140
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€279,999
▼ 53.2%
2025
20192025
Operating result
-€743
2025
20192025
Net result
-€16,265
2025
lowest quarter of the sector
20192025
EBIT margin
-0.3%
▼ 51.1pp
2025
20192025
Equity
€388,959
▼ 4.0%
2025
highest quarter of the sector
20192025
Total assets
€1.2m
▼ 7.4%
2025
highest quarter of the sector
20192025
Debt
€650,747
▼ 11.3%
2025
20192025
Working capital
€18,216
2025
middle half of the sector
20192025
Solvency
32.4%
▲ 1.1pp
2025
middle half of the sector
20192025
Current ratio
1.37
▲ 0.51
2025
middle half of the sector
20192025
Return on assets (ROA)
-1.4%
▼ 12.5pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€0.2m-€0.2m▲ 8.0%€0.2m▲ 0.3%€0.3m▲ 15.9%€0.3m▲ 6.2%€0.6m▲ 101%€0.3m▼ 53.2%
Operating result€0.008m-€0.01m▲ 37.0%€0.005m▼ 48.0%€0.006m▲ 3.2%€0.03m▲ 439%€0.3m▲ 924%-€0.001m
Net result-€0.004m--€0.002mbelow the sector's middle half▲ 40.5%-€0.001mbelow the sector's middle half▲ 47.5%-€0.001mbelow the sector's middle half▼ 12.7%€0.006mwithin the sector's middle half€0.1mabove the sector's middle half▲ 22×-€0.02mbelow the sector's middle half
EBIT margin3.4%-4.3%▲ 0.9pp2.2%▼ 2.1pp2.0%▼ 0.2pp10.0%▲ 8.0pp50.8%▲ 40.9pp-0.3%▼ 51.1pp
Equity€0.4m-€0.4mwithin the sector's middle half▼ 0.6%€0.4mwithin the sector's middle half▼ 0.3%€0.4mwithin the sector's middle half▼ 0.3%€0.4mwithin the sector's middle half▲ 1.5%€0.4mwithin the sector's middle half▼ 6.0%€0.4mabove the sector's middle half▼ 4.0%
Total assets€0.8m-€0.8mwithin the sector's middle half▼ 3.4%€0.8mwithin the sector's middle half▼ 1.9%€1.3mwithin the sector's middle half▲ 70.1%€1.4mwithin the sector's middle half▲ 6.4%€1.3mwithin the sector's middle half▼ 6.5%€1.2mabove the sector's middle half▼ 7.4%
Debt€0.3m-€0.3m▼ 7.2%€0.2m▼ 3.4%€0.8m▲ 218%€0.9m▲ 10.0%€0.7m▼ 15.3%€0.7m▼ 11.3%
Working capital-€0.2m--€0.2mbelow the sector's middle half▲ 16.3%-€0.2mbelow the sector's middle half▲ 15.2%-€0.1mbelow the sector's middle half▲ 21.7%-€0.1mbelow the sector's middle half▲ 10.3%-€0.02mwithin the sector's middle half▲ 83.2%€0.02mwithin the sector's middle half
Solvency53.2%-54.7%within the sector's middle half▲ 1.6pp55.6%within the sector's middle half▲ 0.9pp32.6%within the sector's middle half▼ 23.0pp31.1%within the sector's middle half▼ 1.5pp31.3%within the sector's middle half▲ 0.2pp32.4%within the sector's middle half▲ 1.1pp
Current ratio0.20-0.28below the sector's middle half▲ 0.070.37below the sector's middle half▲ 0.090.35below the sector's middle half▼ 0.020.59below the sector's middle half▲ 0.240.86below the sector's middle half▲ 0.271.37within the sector's middle half▲ 0.51
Return on assets (ROA)-0.5%--0.3%within the sector's middle half▲ 0.2pp-0.2%below the sector's middle half▲ 0.1pp-0.1%below the sector's middle half▲ 0.1pp0.5%within the sector's middle half▲ 0.6pp11.2%within the sector's middle half▲ 10.7pp-1.4%below the sector's middle half▼ 12.5pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €743, after a profit of €304,327 in 2024. It is the lowest result since 2021.
Large changes and their cause
- 2025 Turnover -53% on 2024. The accounts now follow the micro format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.1m ▼ 4.4%
Current assets
€67,228 ▼ 39.3%
Equity and liabilities €1.2m
Equity
€388,959 ▼ 4.0%
Provisions
€161,091 ▲ 2.2%
Debt
€650,747 ▼ 11.3%
Debt's share of the balance-sheet total falls from 56.6% to 54.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€54,108▼
2024 · €360,124
Cash flow
€38,587▼
2024 · €200,563
Debt to equity
1.67▼
2024 · 1.81
ROE
-4.2%▼
2024 · 35.7%
Interest coverage
2.88▼
2024 · 3.98
Debt ≤ 1 year
€49,012▼
2024 · €128,973
Debt > 1 year
€600,000=
2024 · €600,000
Income taxes
€3,339
Supplier credit
93 days▼
2024 · 231 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | €600,000 | €600,000 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €602,806 | €46,364 | €36,541 | €2,878 |
| Depreciation and write-downs of the year | €37,679 | €54,240 | €55,798 | €54,852 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €223,779 | €241,687 | €242,461 | €281,020 | €298,499 | €598,838 | €279,999 | ▼ 53.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €208,525 | €179,041 | €202,132 | €182,123 | ▼ 9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,701 | €44,346 | €42,475 | €37,679 | €54,240 | €55,798 | €54,852 | ▼ 1.7% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €10,000 | - |
| Other operating charges640/8 | - | - | - | €29,298 | €35,488 | €36,581 | €33,768 | ▼ 7.7% |
| Gross operating margin9900 | €77,938 | €77,890 | €77,859 | €72,496 | €119,458 | €396,706 | €97,876 | ▼ 75.3% |
| Operating profit (loss)9901 | €7,510 | €10,292 | €5,348 | €5,519 | €29,731 | €304,327 | -€743 | - |
| Financial income75/76B | - | - | - | €8 | €2 | €5 | €13 | ▲ 164% |
| Recurring financial income75 | €82 | €118 | €26 | €8 | €2 | €5 | €13 | ▲ 164% |
| Financial charges65/66B | - | - | - | €7,241 | €25,055 | €90,578 | €18,755 | ▼ 79.3% |
| Recurring financial charges65 | €15,400 | €14,000 | €7,326 | €7,241 | €25,055 | €90,578 | €18,755 | ▼ 79.3% |
| Profit (loss) for the period before taxes9903 | -€5,308 | -€3,590 | -€1,952 | -€1,714 | €4,678 | €213,754 | -€19,486 | - |
| Transfer from deferred taxes780 | - | - | - | €1,234 | €2,635 | €2,658 | €6,560 | ▲ 147% |
| Transfer to deferred taxes680 | - | - | - | - | - | €71,647 | - | - |
| Income taxes67/77 | - | €64 | €548 | €961 | €849 | - | €3,339 | - |
| Profit (loss) for the period9904 | -€4,085 | -€2,432 | -€1,278 | -€1,441 | €6,464 | €144,765 | -€16,265 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €2,409 | €6,611 | €6,682 | €18,385 | ▲ 175% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €214,942 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€1,711 | -€58 | €1,096 | €968 | €13,076 | -€63,495 | €2,120 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.8m | €1.3m | €1.4m | €1.3m | €1.2m | ▼ 7.4% |
| Fixed assets21/28 | €0.8m | €0.7m | €0.7m | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.4% |
| Tangible fixed assets22/27 | €0.8m | €0.7m | €0.7m | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.4% |
| Land and buildings22 | - | - | - | €1.2m | €1.2m | €1.2m | €1.1m | ▼ 4.4% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.001m | €0.01m | €0.01m | ▼ 1.7% |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | - | - | - | - | - |
| Current assets29/58 | €0.06m | €0.07m | €0.09m | €0.06m | €0.2m | €0.1m | €0.07m | ▼ 39.3% |
| Cash at bank and in hand54/58 | €0.06m | €0.07m | €0.09m | €0.06m | €0.2m | €0.1m | €0.07m | ▼ 39.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.8m | €1.3m | €1.4m | €1.3m | €1.2m | ▼ 7.4% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 4.0% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.07m | €0.07m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 4.1% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.4m | €0.4m | ▼ 4.9% |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.02m | €0.02m | ▲ 12.3% |
| Profit (loss) carried forward14 | -€0.009m | -€0.009m | €0.001m | €0.001m | €0.01m | -€0.06m | -€0.06m | = |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.09m | €0.09m | €0.09m | €0.2m | €0.2m | ▲ 2.2% |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €0.01m | - |
| Major repairs and maintenance162 | - | - | - | - | - | - | €0.01m | - |
| Deferred taxes168 | - | - | - | €0.09m | €0.09m | €0.2m | €0.2m | ▼ 4.2% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.2m | €0.8m | €0.9m | €0.7m | €0.7m | ▼ 11.3% |
| Amounts payable after more than one year17 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Financial debts170/4 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | €0.1m | €0.05m | ▼ 62.0% |
| Trade debts44 | €0.07m | €0.05m | €0.08m | €0.04m | €0.1m | €0.1m | €0.05m | ▼ 63.6% |
| Suppliers440/4 | - | - | - | €0.04m | €0.1m | €0.1m | €0.05m | ▼ 63.6% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.001m | €0.002m | ▲ 129% |
| Taxes450/3 | - | - | - | - | - | €0.001m | €0.002m | ▲ 129% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.004m | €0.005m | €0.002m | ▼ 61.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,085 | -€2,432 | -€1,278 | -€1,441 | €6,464 | €144,765 | -€16,265 | - |
| + Depreciation and write-downs630 | €46,701 | €44,346 | €42,475 | €37,679 | €54,240 | €55,798 | €54,852 | ▼ 1.7% |
| Operating cash flow (approximation) | €42,616 | €41,914 | €41,197 | €36,238 | €60,704 | €200,563 | €38,587 | ▼ 80.8% |
| Investment in fixed assets (approximation) | - | -€3,581 | -€7,431 | -€600,500 | -€46,364 | -€9,770 | -€2,878 | ▲ 70.5% |
| Change in cash | - | €13,317 | €20,364 | -€25,881 | €90,625 | -€43,470 | -€43,605 | ▼ 0.3% |
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, 8,617 companies had the same profile as IMMODOS has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IMMODOS itself: 0.2% 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 8,617 companies, not a prediction for IMMODOS. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 17-02-2026 | 2026-00039432 | |
| 30-06-2024 | abbreviated format | 30-01-2025 | 2025-00015903 | |
| 30-06-2023 | abbreviated format | 31-10-2024 | 2024-00522242 | |
| 30-06-2022 | abbreviated format | 22-12-2022 | 2022-20543366 | |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-02600116 | |
| 30-06-2020 | abbreviated format | 15-12-2020 | 2020-75600227 | |
| 30-06-2019 | abbreviated format | 16-12-2019 | 2019-76200465 | |
| 30-06-2018 | abbreviated format | 20-12-2018 | 2018-75000563 | |
| 30-06-2017 | abbreviated format | 19-12-2017 | 2017-72500177 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-03100503 |