IMMODUNI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-12-2025 PDF all 28 filings
Turnover
€26,565
EBIT margin
-1.9%
Net result
-€13,081▼ 50.1%
2024 · -€8,717
Working capital
-€121,306▼ 9.1%
2024 · -€111,164
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
-€4,180
▲ 21.6%
2025
20192025
Net result
-€13,081
▼ 50.1%
2025
lowest quarter of the sector
20192025
EBIT margin
no figure
2025
20192025
Equity
-€1,398
2025
lowest quarter of the sector
20192025
Total assets
€319,415
▲ 0.6%
2025
middle half of the sector
20192025
Debt
€320,813
▲ 4.9%
2025
20192025
Working capital
-€121,306
▼ 9.1%
2025
lowest quarter of the sector
20192025
Solvency
-0.4%
▼ 4.1pp
2025
lowest quarter of the sector
20192025
Current ratio
0.04
▲ 0.01
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-4.1%
▼ 1.3pp
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€26,565-
Operating result-€492--€483▲ 1.7%-€3,591▼ 643%€624€3,461▲ 455%-€5,332-€4,180▲ 21.6%
Net result-€2,812--€2,484within the sector's middle half▲ 11.7%-€5,174within the sector's middle half▼ 108%-€556within the sector's middle half▲ 89.2%€2,642within the sector's middle half-€8,717within the sector's middle half-€13,081below the sector's middle half▼ 50.1%
EBIT margin-1.9%-
Equity€25,973-€23,489within the sector's middle half▼ 9.6%€18,315within the sector's middle half▼ 22.0%€17,758within the sector's middle half▼ 3.0%€20,401within the sector's middle half▲ 14.9%€11,684within the sector's middle half▼ 42.7%-€1,398below the sector's middle half
Total assets€100,981-€91,277below the sector's middle half▼ 9.6%€87,230below the sector's middle half▼ 4.4%€78,834below the sector's middle half▼ 9.6%€71,339below the sector's middle half▼ 9.5%€317,485within the sector's middle half▲ 345%€319,415within the sector's middle half▲ 0.6%
Debt€75,008-€67,788▼ 9.6%€68,915▲ 1.7%€61,076▼ 11.4%€50,938▼ 16.6%€305,801▲ 500%€320,813▲ 4.9%
Working capital-€27,989--€31,169within the sector's middle half▼ 11.4%-€42,230within the sector's middle half▼ 35.5%-€40,479within the sector's middle half▲ 4.1%-€36,735within the sector's middle half▲ 9.2%-€111,164below the sector's middle half▼ 203%-€121,306below the sector's middle half▼ 9.1%
Solvency25.7%-25.7%within the sector's middle half=21.0%within the sector's middle half▼ 4.7pp22.5%within the sector's middle half▲ 1.5pp28.6%within the sector's middle half▲ 6.1pp3.7%below the sector's middle half▼ 24.9pp-0.4%below the sector's middle half▼ 4.1pp
Current ratio0.30-0.23below the sector's middle half▼ 0.070.14below the sector's middle half▼ 0.100.18below the sector's middle half▲ 0.050.18below the sector's middle half▼ 0.010.03below the sector's middle half▼ 0.150.04below the sector's middle half▲ 0.01
Return on assets (ROA)-2.8%--2.7%below the sector's middle half▲ 0.1pp-5.9%below the sector's middle half▼ 3.2pp-0.7%within the sector's middle half▲ 5.2pp3.7%within the sector's middle half▲ 4.4pp-2.7%below the sector's middle half▼ 6.4pp-4.1%below the sector's middle half▼ 1.3pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €4,180, smaller than the loss of €5,332 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €319,415
Fixed assets
€314,035 =
Current assets
€5,381 ▲ 49.8%
Equity and liabilities
Equity-€1,398
Debt€320,813
Equity is negative. Debt (€320,813) exceeds the balance-sheet total (€319,415).
Key figures and ratios
EBITDA
€11,633▲
2024 · €3,377
Cash flow
€2,732▲
2024 · -€9
Interest coverage
1.31▲
2024 · 1.00
Debt ≤ 1 year
€126,686▲
2024 · €114,757
Debt > 1 year
€193,110▲
2024 · €190,214
Staff costs
€603▼
2024 · €2,364
A ratio outside any meaningful range has been withheld (balance sheet total €319,415, equity -€1,398).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €264,335 | €15,956 |
| Depreciation and write-downs of the year | €10,925 | €6,268 | €8,708 | €15,813 |
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 | €26,565 | - | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2,272 | €1,750 | €2,364 | €603 | ▼ 74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,795 | €10,055 | €10,373 | €10,925 | €6,268 | €8,708 | €15,813 | ▲ 81.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €5,160 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €5,328 | €3,410 | €4,068 | €3,404 | ▼ 16.3% |
| Gross operating margin9900 | €11,512 | €14,675 | €11,064 | €19,149 | €14,890 | €14,968 | €15,640 | ▲ 4.5% |
| Operating profit (loss)9901 | -€492 | -€483 | -€3,591 | €624 | €3,461 | -€5,332 | -€4,180 | ▲ 21.6% |
| Financial charges65/66B | - | - | - | €1,180 | €819 | €3,385 | €8,901 | ▲ 163% |
| Recurring financial charges65 | €2,320 | €2,000 | €1,583 | €1,180 | €819 | €3,385 | €8,901 | ▲ 163% |
| Profit (loss) for the period before taxes9903 | -€2,812 | -€2,484 | -€5,174 | -€556 | €2,642 | -€8,717 | -€13,081 | ▼ 50.1% |
| Profit (loss) for the period9904 | -€2,812 | -€2,484 | -€5,174 | -€556 | €2,642 | -€8,717 | -€13,081 | ▼ 50.1% |
| Profit (loss) for the period to be appropriated9905 | -€2,812 | -€2,484 | -€5,174 | -€556 | €2,642 | -€8,717 | -€13,081 | ▼ 50.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €100,981 | €91,277 | €87,230 | €78,834 | €71,339 | €317,485 | €319,415 | ▲ 0.6% |
| Fixed assets21/28 | €89,098 | €81,823 | €80,618 | €69,693 | €63,425 | €313,892 | €314,035 | = |
| Tangible fixed assets22/27 | €89,098 | €81,643 | €80,438 | €69,513 | €63,245 | €313,712 | €313,855 | = |
| Land and buildings22 | - | - | - | €59,135 | €54,716 | €277,341 | €266,884 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | - | - | €10,378 | €8,530 | €36,371 | €46,971 | ▲ 29.1% |
| Financial fixed assets28 | - | €180 | €180 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €11,883 | €9,454 | €6,611 | €9,141 | €7,913 | €3,593 | €5,381 | ▲ 49.8% |
| Amounts receivable within one year40/41 | €1,000 | - | - | - | - | €42 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | - | - | €42 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €10,808 | €4,941 | €2,579 | €8,265 | €6,907 | €2,888 | €4,114 | ▲ 42.5% |
| Deferred charges and accrued income490/1 | - | - | - | €876 | €1,006 | €662 | €1,266 | ▲ 91.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €100,981 | €91,277 | €87,230 | €78,834 | €71,339 | €317,485 | €319,415 | ▲ 0.6% |
| Equity10/15 | €25,973 | €23,489 | €18,315 | €17,758 | €20,401 | €11,684 | -€1,398 | - |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €5,513 | €3,029 | -€2,145 | -€2,702 | -€59 | -€8,776 | -€21,858 | ▼ 149% |
| Amounts payable17/49 | €75,008 | €67,788 | €68,915 | €61,076 | €50,938 | €305,801 | €320,813 | ▲ 4.9% |
| Amounts payable after more than one year17 | €35,136 | €27,162 | €20,074 | €11,456 | €5,559 | €190,214 | €193,110 | ▲ 1.5% |
| Financial debts170/4 | - | - | - | €9,796 | €5,559 | €189,634 | €193,110 | ▲ 1.8% |
| Other amounts payable178/9 | - | - | - | €1,660 | - | €580 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €39,872 | €40,623 | €48,841 | €49,620 | €44,649 | €114,757 | €126,686 | ▲ 10.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,617 | €4,237 | €9,323 | €13,458 | ▲ 44.4% |
| Financial debts43 | - | - | - | - | - | - | €281 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €281 | - |
| Trade debts44 | €192 | €277 | €982 | €760 | - | - | €81 | - |
| Suppliers440/4 | - | - | - | €760 | - | - | €81 | - |
| Taxes, remuneration and social security45 | - | - | - | €570 | €61 | €143 | €53 | ▼ 63.3% |
| Taxes450/3 | - | - | - | €96 | €61 | €143 | €53 | ▼ 63.3% |
| Remuneration and social security454/9 | - | - | - | €474 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €39,671 | €40,351 | €105,291 | €112,813 | ▲ 7.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €730 | €830 | €1,016 | ▲ 22.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,812 | -€2,484 | -€5,174 | -€556 | €2,642 | -€8,717 | -€13,081 | ▼ 50.1% |
| + Depreciation and write-downs630 | €9,795 | €10,055 | €10,373 | €10,925 | €6,268 | €8,708 | €15,813 | ▲ 81.6% |
| Operating cash flow (approximation) | €6,983 | €7,571 | €5,199 | €10,369 | €8,910 | -€9 | €2,732 | - |
| Investment in fixed assets (approximation) | - | -€2,780 | -€9,169 | €0 | €0 | -€259,176 | -€15,956 | ▲ 93.8% |
| Change in cash | - | -€5,867 | -€2,362 | €5,686 | -€1,358 | -€4,020 | €1,227 | - |
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, 2,796 companies had the same profile as IMMODUNI has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
90.4%
was still going
6.0%
stopped otherwise
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of IMMODUNI itself is lower: 0.4% within 12 months. It rests on far more data about IMMODUNI than the profile alone.
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 2,796 companies, not a prediction for IMMODUNI. 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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 18-12-2025 | 2025-00584175 | |
| 30-06-2024 | micro format | 24-12-2024 | 2024-00624205 | |
| 30-06-2023 | micro format | 07-12-2023 | 2023-00523653 | |
| 30-06-2022 | micro format | 24-01-2023 | 2023-00006614 | |
| 30-06-2021 | micro format | 24-01-2022 | 2022-01600468 | |
| 30-06-2020 | micro format | 20-01-2021 | 2021-01300088 | |
| 30-06-2019 | micro format | 17-12-2019 | 2019-76400233 | |
| 30-06-2018 | micro format | 05-11-2018 | 2018-71700014 | |
| 30-06-2017 | micro format | 20-12-2017 | 2017-72700409 | |
| 30-06-2016 | full format | 22-12-2016 | 2016-71300157 |