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IMMOFRAN

Active
Public limited companyfounded 199134 yrs activeMerksplassesteenweg 109, 2310 Rijkevorsel, BelgiumKBO/BCE: BE 0445.806.258
Summary

IMMOFRAN has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €416,039 and a net result of €12,272. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 84% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2024
Axes · tick = 2022
Profitability72▲+2
Solvency100=
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.05 against 0.01 in 2022; short-term debt: 21.4% and cash: 1% of total assets), and 21.4% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 34 years 0 40 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-09-2025, 46 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
46 d late
2022
59 d late
2019
35 d early
2018
106 d late
2017
55 d late
2016
31 d late
← 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 44 days after 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)
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 19 November 1991, IMMOFRAN was incorporated.1 Total assets went from EUR 602,514 in 2018 to EUR 529,007 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, micro schema

Equity
€416,039▲ 2.7%
2022 · €405,284
Total assets
€529,007▲ 0.1%
2022 · €528,220
Net result
€12,272▲ 177%
2022 · €4,426
Working capital
-€107,695▲ 11.7%
2022 · -€121,989
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
Line2018201920222024
Operating result-€10,371--€17,293▼ 66.7%€4,766-€12,963-
Net result-€10,371--€17,293▼ 66.7%€4,426within the sector's middle half-€12,272within the sector's middle half-
Equity€409,278-€391,985▼ 4.2%€405,284above the sector's middle half-€416,039above the sector's middle half-
Total assets€602,514-€542,776▼ 9.9%€528,220within the sector's middle half-€529,007within the sector's middle half-
Debt€193,236-€150,791▼ 22.0%€122,935-€112,969-
Working capital-€165,167--€148,050▲ 10.4%-€121,989below the sector's middle half--€107,695below the sector's middle half-
Solvency67.9%-72.2%▲ 4.3pp76.7%above the sector's middle half-78.6%above the sector's middle half-
Current ratio0.15-0.02▼ 0.130.01below the sector's middle half-0.05below the sector's middle half-
Return on assets (ROA)-1.7%--3.2%▼ 1.5pp0.8%within the sector's middle half-2.3%within 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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€20,000-€10,000€0€10,000Operating result 2018: -€10,371-€10,371Net result 2018: -€10,371-€10,371Operating result 2019: -€17,293-€17,293Net result 2019: -€17,293-€17,293Operating result 2022: €4,766€4,766Net result 2022: €4,426€4,426Operating result 2024: €12,963€12,963Net result 2024: €12,272€12,2722018201920222024-€20,000-€10,000€0€10,000Operating result 2019: -€17,293-€17,300Net result 2019: -€17,293-€17,300Operating result 2022: €4,766€4,770Net result 2022: €4,426€4,430Operating result 2024: €12,963€13,000Net result 2024: €12,272€12,300201920222024
The operating result is €12,963 in 2024, compared with €4,766 in 2022. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €529,007
Fixed assets €523,734 ▼ 0.7%
Current assets €5,273 ▲ 457%
Equity and liabilities €529,007
Equity €416,039 ▲ 2.7%
Debt €112,969 ▼ 8.1%
Debt's share of the balance-sheet total falls from 23.3% to 21.4%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2022
EBITDA
€14,733▲
2022 · €6,557
Cash flow
€14,042▲
2022 · €6,217
Debt to equity
0.27▼
2022 · 0.30
ROE
2.9%▲
2022 · 1.1%
Interest coverage
21.31▲
2022 · 19.27
Debt ≤ 1 year
€112,969▼
2022 · €122,935
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 14,733 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 · 2024 against 2022 · 34 lines
Balance sheet Code20222024
Assets
Total assets20/58€528,220€529,007▲
Fixed assets21/28€527,273€523,734▼
Tangible fixed assets22/27€527,273€523,734▼
Land and buildings22€515,681€517,451▲
Plant, machinery and equipment23€11,592€6,283▼
Current assets29/58€947€5,273▲
Cash at bank and in hand54/58€947€5,273▲
Equity and liabilities
Total equity and liabilities10/49€528,220€529,007▲
Equity10/15€405,284€416,039▲
Contributions10/11€573,192€573,192=
Capital10€572,634€572,634=
Issued capital100€572,634€572,634=
Outside capital11€558€558=
Share premium1100/10€558€558=
Reserves13€57,263€57,263=
Non-distributable reserves130/1€57,263€57,263=
Legal reserve130€57,263€57,263=
Profit (loss) carried forward14-€225,171-€214,417▲
Amounts payable17/49€122,935€112,969▼
Amounts payable within one year42/48€122,935€112,969▼
Trade debts44-€528
Suppliers440/4-€528
Other amounts payable47/48€122,935€112,440▼
Income statement Code20222024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,791€1,769▼
Other operating charges640/8€1,700€505▼
Gross operating margin9900€8,257€15,238▲
Operating profit (loss)9901€4,766€12,963▲
Financial charges65/66B€340€691▲
Recurring financial charges65€340€691▲
Profit (loss) for the period before taxes9903€4,426€12,272▲
Profit (loss) for the period9904€4,426€12,272▲
Profit (loss) for the period to be appropriated9905€4,426€12,272▲
Appropriation of the result
Profit (loss) to be appropriated9906-€225,171-€214,417▲
Profit (loss) brought forward from the previous period14P-€229,597-€226,689▲

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2018201920222024Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€34,975€34,410€1,791€1,769-
Other operating charges640/8--€1,700€505-
Gross operating margin9900€24,604€17,117€8,257€15,238-
Operating profit (loss)9901-€10,371-€17,293€4,766€12,963-
Recurring financial income75-€0---
Financial charges65/66B--€340€691-
Recurring financial charges65-€0€340€691-
Profit (loss) for the period before taxes9903-€10,371-€17,293€4,426€12,272-
Profit (loss) for the period9904-€10,371-€17,293€4,426€12,272-
Profit (loss) for the period to be appropriated9905-€10,371-€17,293€4,426€12,272-
Line2018201920222024Change
Assets
Total assets20/58€602,514€542,776€528,220€529,007-
Fixed assets21/28€574,445€540,035€527,273€523,734-
Tangible fixed assets22/27€574,445€540,035€527,273€523,734-
Land and buildings22--€515,681€517,451-
Plant, machinery and equipment23--€11,592€6,283-
Current assets29/58€28,069€2,741€947€5,273-
Cash at bank and in hand54/58€28,069€2,741€947€5,273-
Equity and liabilities
Total equity and liabilities10/49€602,514€542,776€528,220€529,007-
Equity10/15€409,278€391,985€405,284€416,039-
Contributions10/11€572,634€572,634€573,192€573,192-
Capital10--€572,634€572,634-
Issued capital100--€572,634€572,634-
Outside capital11--€558€558-
Share premium1100/10--€558€558-
Reserves13€68,955€57,263€57,263€57,263-
Non-distributable reserves130/1--€57,263€57,263-
Legal reserve130--€57,263€57,263-
Profit (loss) carried forward14-€232,869-€238,470-€225,171-€214,417-
Amounts payable17/49€193,236€150,791€122,935€112,969-
Amounts payable within one year42/48€193,236€150,791€122,935€112,969-
Trade debts44---€528-
Suppliers440/4---€528-
Other amounts payable47/48--€122,935€112,440-
Line2018201920222024Change
Profit (loss) for the period9904-€10,371-€17,293€4,426€12,272-
+ Depreciation and write-downs630€34,975€34,410€1,791€1,769-
Operating cash flow (approximation)€24,604€17,117€6,217€14,042-
Investment in fixed assets (approximation)-€0---
Change in cash--€25,328---

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

2025
15-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 46 days late
2024
31-12
Financial Highest result since 2018net €12,272 ▲177%
Operating result €12,963, net result €12,272, both a record.
2023
28-09
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
31-12
Financial Back to profitnet €4,426
Net result €4,426 after 2 loss-making years.
2020
26-06
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial Weakest financial yearnet -€17,293
Net result drops to -€17,293, the lowest in the series; recovery starts the following year.
14-11
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 106 days late
2018
24-09
NBB filing Annual accounts filed
fiscal year 2017 · micro schema · 55 days late
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
26-07
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
06-10
NBB filing Annual accounts filed
fiscal year 2014 · abbreviated schema · 67 days late
2014
29-08
NBB filing Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
2013
22-08
NBB filing Annual accounts filed
fiscal year 2012 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Rijkevorsel · 1 establishment unit since 1991
seat establishment The establishment unit on the map
Ground area
1,687 m²
Building footprint
197 m²
Volume, LiDAR
1,248 m³
Parcel 13502C0254/00Z003, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
Merksplassesteenweg 109, 2310 Rijkevorsel
NACE 70201
since 19912.055.504.135
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
13502C0254/00Z003 Flanders 1,687 m² 1 · 197 m² 11.2 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.

Similar companies · same sector, comparable size

Of 9,146 companies in sector 68201 we hold annual accounts for 6,775. 5,042 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
Founded19-11-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
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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Register as of 28 September 2026 · Peppol Directory

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