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Immoflow

Active
Public limited companyfounded 20242 yrs activeGentsesteenweg 610, 1080 Sint-Jans-Molenbeek, BelgiumKBO/BCE: BE 1005.434.791
Summary

Immoflow has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€183,389) and a net result of -€244,001. Its solvency ranks better than 12% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability17▼-2
Solvency23▼-8
Growth32
Track record82
Bankruptcy probability, 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.55; short-term debt: 2.1% and cash: 2.7% of total assets), but equity is negative.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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 2025
Solvency, return and age of the figures
Solvency
-2.4%
Return on assets
-3.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
2425
2024 to 2025 · latest year -€183,389
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 29-07-2026, 2 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
2 d early
2024
15 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 9 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 (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.
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 31 January 2024, Immoflow was incorporated as a Public limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€244,001▼ 27,383%
2024 · -€888
Working capital
€88,134▼ 90.8%
2024 · €954,909
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
Line20242025
Operating result-€879--€143,145▼ 16,179%
Net result-€888within the sector's middle half--€244,001below the sector's middle half▼ 27,383%
Equity€60,612within the sector's middle half--€183,389below the sector's middle half
Total assets€956,949within the sector's middle half-€7.8mwithin the sector's middle half▲ 711%
Debt€896,337-€7.9m▲ 787%
Working capital€954,909above the sector's middle half-€88,134within the sector's middle half▼ 90.8%
Solvency6.3%within the sector's middle half--2.4%below the sector's middle half▼ 8.7pp
Current ratio1.55within the sector's middle half
Return on assets (ROA)-0.1%within the sector's middle half--3.1%below the sector's middle half▼ 3.0pp
Staff (FTE)0below the sector's middle half-0within the sector's middle half
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.
Result per fiscal year
Operating resultNet result
-€300,000-€200,000-€100,000€0Operating result 2024: -€879-€879Net result 2024: -€888-€888Operating result 2025: -€143,145-€143,145Net result 2025: -€244,001-€244,00120242025-€300,000-€200,000-€100,000€0Operating result 2024: -€879-€879Net result 2024: -€888-€888Operating result 2025: -€143,145-€143,000Net result 2025: -€244,001-€244,00020242025
The operating result stays negative: a loss of €143,145 in 2025 against €879 in 2024; the loss grows.
Balance-sheet composition
Assets €7.8m
Fixed assets €7.5m
Current assets €249,185
Key figures and ratios
2025 value · change against 2024
EBITDA
€22,965▲
2024 · -€542
Cash flow
-€77,891▼
2024 · -€551
Debt to equity
-43.34▼
2024 · 14.79
Interest coverage
0.21▲
2024 · -63.44
Debt ≤ 1 year
€161,051▲
2024 · €542
Debt > 1 year
€7.8m▲
2024 · €895,795
Income taxes
€3,501
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 472 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.

  • Medium-sized
  • negative equity
  • a small loss
  • without age
1.5% went bankrupt
2.8% stopped otherwise
95% still going

A further 0.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.9%
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 472 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet Code20242025
Assets
Total assets20/58€956,949€7.8m▲
Formation expenses20€1,498€1,131▼
Fixed assets21/28-€7.5m
Tangible fixed assets22/27-€7.5m
Land and buildings22-€7.5m
Current assets29/58€955,451€249,185▼
Amounts receivable within one year40/41-€39,583
Trade receivables40-€39,583
Current investments50/53€750,000€0▼
Cash at bank and in hand54/58€205,451€209,602▲
Equity and liabilities
Total equity and liabilities10/49€956,949€7.8m▲
Equity10/15€60,612-€183,389▼
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€888-€244,889▼
Amounts payable17/49€896,337€7.9m▲
Amounts payable after more than one year17€895,795€7.8m▲
Financial debts170/4-€6.7m
Other amounts payable178/9€895,795€1.1m▲
Amounts payable within one year42/48€542€161,051▲
Current portion of amounts payable after more than one year42-€160,361
Trade debts44€155€302▲
Suppliers440/4€155€302▲
Other amounts payable47/48€387€387=
Accrued charges and deferred income492/3-€404
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€337€166,110▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€214,237
Other operating charges640/8€387€298,453▲
Gross operating margin9900-€155€535,655▲
Operating profit (loss)9901-€879-€143,145▼
Financial income75/76B€0€11,668▲
Recurring financial income75€0€11,668▲
Financial charges65/66B€9€109,024▲
Recurring financial charges65€9€109,024▲
Profit (loss) for the period before taxes9903-€888-€240,500▼
Income taxes67/77-€3,501
Profit (loss) for the period9904-€888-€244,001▼
Profit (loss) for the period to be appropriated9905-€888-€244,001▼
Appropriation of the result
Profit (loss) to be appropriated9906-€888-€244,889▼
Profit (loss) brought forward from the previous period14P--€888
Social balance
Average headcount (FTE)90870.00.0=

The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€337€166,110▲ 49,213%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€214,237-
Other operating charges640/8€387€298,453▲ 76,952%
Gross operating margin9900-€155€535,655▲ 345,439%
Operating profit (loss)9901-€879-€143,145▼ 16,179%
Financial income75/76B€0€11,668▲ 116,683,100%
Recurring financial income75€0€11,668▲ 116,683,100%
Financial charges65/66B€9€109,024▲ 1,275,034%
Recurring financial charges65€9€109,024▲ 1,275,034%
Profit (loss) for the period before taxes9903-€888-€240,500▼ 26,988%
Income taxes67/77-€3,501-
Profit (loss) for the period9904-€888-€244,001▼ 27,383%
Profit (loss) for the period to be appropriated9905-€888-€244,001▼ 27,383%
Line20242025Change
Assets
Total assets20/58€956,949€7.8m▲ 711%
Formation expenses20€1,498€1,131▼ 24.5%
Fixed assets21/28-€7.5m-
Tangible fixed assets22/27-€7.5m-
Land and buildings22-€7.5m-
Current assets29/58€955,451€249,185▼ 73.9%
Amounts receivable within one year40/41-€39,583-
Trade receivables40-€39,583-
Current investments50/53€750,000€0▼ 100%
Cash at bank and in hand54/58€205,451€209,602▲ 2.0%
Equity and liabilities
Total equity and liabilities10/49€956,949€7.8m▲ 711%
Equity10/15€60,612-€183,389▼ 403%
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€888-€244,889▼ 27,483%
Amounts payable17/49€896,337€7.9m▲ 787%
Amounts payable after more than one year17€895,795€7.8m▲ 769%
Financial debts170/4-€6.7m-
Other amounts payable178/9€895,795€1.1m▲ 21.2%
Amounts payable within one year42/48€542€161,051▲ 29,590%
Current portion of amounts payable after more than one year42-€160,361-
Trade debts44€155€302▲ 94.9%
Suppliers440/4€155€302▲ 94.9%
Other amounts payable47/48€387€387=
Accrued charges and deferred income492/3-€404-
Line20242025Change
Profit (loss) for the period9904-€888-€244,001▼ 27,383%
+ Depreciation and write-downs630€337€166,110▲ 49,213%
Operating cash flow (approximation)-€551-€77,891▼ 14,037%
Change in cash-€4,150-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
29-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
16-07
NBB filing Annual accounts filed
fiscal year 2024 · full schema
NBB filing
0 of 2 acts read
About the unread acts

We know of 2 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
2 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, Sint-Jans-Molenbeek · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
3,088 m²
Building footprint
372 m²
Volume, LiDAR
2,828 m³
Parcel 21526D0052/00Y006, Brussels · tallest building 12.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Immoflow
Gentsesteenweg 610, 1080 Sint-Jans-MolenbeekRenting and operating of own or leased non-residential real estate, excluding land
since 20242.355.332.620
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21526D0052/00Y006 Brussels 3,088 m² 1 · 371 m² 12.7 m · 2 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

Chain of control

  1. P&L10 91.98%
  2. Immoflow

Highest known parent: P&L10. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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.

Similar companies · same sector, comparable size

Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 3,321 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
Founded31-01-2024
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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If you follow this company, Checked tells you the day it appears in the Peppol register.

Register as of 29 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.