Imodecam
ActiveSummary
Imodecam has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€811,839) and a net result of -€27,062. Equity is shrinking by ~34.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▲+6
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.37 against 0.28 in 2024; short-term debt: 161.1% and cash: 0.4% of total assets), and 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
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
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 2025Solvency, return and age of the figures
Solvency
-61.6%
Return on assets
-2.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€811,839
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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 filingsDeviation from the deadline
2025
4 d late
2024
8 d late
2023
29 d early
2022
64 d late
2021
60 d late
2020
73 d late
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 21 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 8 August (4 of the last 5 filed years within 52 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€138,116
EBIT margin
-435.8%
Net result
-€27,062▲ 71.8%
2024 · -€95,880
Working capital
-€1.3m▲ 12.4%
2024 · -€1.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€91,629▲ 84.8%-€285,953▼ 212%-€144,000▲ 49.6%-€100,508▲ 30.2%-€33,680▲ 66.5%
Net result-€68,519▲ 88.1%-€240,775▼ 251%-€133,409▲ 44.6%-€95,880▲ 28.1%-€27,062▲ 71.8%
EBIT margin
Equity-€314,712▼ 27.8%-€555,488▼ 76.5%-€688,897▼ 24.0%-€784,777▼ 13.9%-€811,839▼ 3.4%
Total assets€2.4m▼ 4.3%€2.0m▼ 14.9%€1.6m▼ 22.7%€1.3m▼ 13.7%€1.3m▼ 1.9%
Debt€2.7m▼ 1.4%€2.6m▼ 4.2%€2.2m▼ 12.6%€2.1m▼ 5.2%€2.1m▲ 0.1%
Working capital-€2.0m▲ 5.6%-€1.8m▲ 9.5%-€1.7m▲ 3.4%-€1.5m▲ 11.9%-€1.3m▲ 12.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €33,680 in 2025 against €100,508 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€524,030 ▼ 29.1%
Current assets
€794,111 ▲ 31.4%
Key figures and ratios
EBITDA
€77,219▲
2024 · €50,906
Cash flow
€83,837▲
2024 · €55,534
Solvency
-61.6%▼
2024 · -58.4%
Current ratio
0.37▲
2024 · 0.28
Debt to equity
-2.62▲
2024 · -2.71
ROA
-2.1%▲
2024 · -7.1%
Interest coverage
58.63▲
2024 · 25.65
Debt ≤ 1 year
€2.1m▲
2024 · €2.1m
Debt > 1 year
€4,500=
2024 · €4,500
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.6%
went bankrupt
3.8%
stopped otherwise
93%
still going
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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%.
| 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 1,242 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €190,803 | €194,944 | €194,335 | €151,414 | €110,899 | ▼ 26.8% |
| Other operating charges640/8 | €17,526 | €17,923 | €19,575 | €51,231 | €19,727 | ▼ 61.5% |
| Non-recurring operating charges66A | €0 | €223,052 | €36,328 | - | - | - |
| Gross operating margin9900 | €116,701 | €149,966 | €106,238 | €102,137 | €96,946 | ▼ 5.1% |
| Operating profit (loss)9901 | -€91,629 | -€285,953 | -€144,000 | -€100,508 | -€33,680 | ▲ 66.5% |
| Financial income75/76B | €25,878 | €48,099 | €25,467 | €6,613 | €7,935 | ▲ 20.0% |
| Recurring financial income75 | €25,878 | €48,099 | €25,467 | €6,613 | €7,935 | ▲ 20.0% |
| Financial charges65/66B | €2,768 | €2,921 | €14,912 | €1,985 | €1,317 | ▼ 33.7% |
| Recurring financial charges65 | €2,768 | €2,921 | €14,912 | €1,985 | €1,317 | ▼ 33.7% |
| Profit (loss) for the period before taxes9903 | -€68,519 | -€240,775 | -€133,445 | -€95,880 | -€27,062 | ▲ 71.8% |
| Income taxes67/77 | €0 | - | -€36 | - | - | - |
| Profit (loss) for the period9904 | -€68,519 | -€240,775 | -€133,409 | -€95,880 | -€27,062 | ▲ 71.8% |
| Profit (loss) for the period to be appropriated9905 | -€68,519 | -€240,775 | -€133,409 | -€95,880 | -€27,062 | ▲ 71.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.0m | €1.6m | €1.3m | €1.3m | ▼ 1.9% |
| Fixed assets21/28 | €1.7m | €1.2m | €1.0m | €738,885 | €524,030 | ▼ 29.1% |
| Tangible fixed assets22/27 | €1.7m | €1.2m | €1.0m | €738,885 | €524,030 | ▼ 29.1% |
| Land and buildings22 | €1.7m | €1.2m | €1.0m | €738,885 | €524,030 | ▼ 29.1% |
| Furniture and vehicles24 | €2,886 | €1,139 | - | - | - | - |
| Current assets29/58 | €710,648 | €776,156 | €512,960 | €604,322 | €794,111 | ▲ 31.4% |
| Amounts receivable within one year40/41 | €52,750 | €59,282 | €61,005 | €59,385 | €59,385 | = |
| Trade receivables40 | €14,328 | €22,431 | €45,083 | €56,857 | €56,857 | = |
| Other amounts receivable41 | €38,422 | €36,851 | €15,922 | €2,528 | €2,528 | = |
| Current investments50/53 | €581,122 | €581,122 | €425,595 | €533,043 | €729,989 | ▲ 36.9% |
| Cash at bank and in hand54/58 | €76,471 | €135,752 | €25,502 | €11,894 | €4,737 | ▼ 60.2% |
| Deferred charges and accrued income490/1 | €305 | - | €858 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.0m | €1.6m | €1.3m | €1.3m | ▼ 1.9% |
| Equity10/15 | -€314,712 | -€555,488 | -€688,897 | -€784,777 | -€811,839 | ▼ 3.4% |
| Contributions10/11 | €750,000 | €750,000 | €750,000 | €750,000 | €750,000 | = |
| Capital10 | €750,000 | €750,000 | €750,000 | €750,000 | €750,000 | = |
| Issued capital100 | €750,000 | €750,000 | €750,000 | €750,000 | €750,000 | = |
| Reserves13 | €81,118 | €81,118 | €81,118 | €81,118 | €81,118 | = |
| Non-distributable reserves130/1 | €3,481 | €3,481 | €3,481 | €3,481 | €3,481 | = |
| Legal reserve130 | €3,481 | €3,481 | €3,481 | €3,481 | €3,481 | = |
| Tax-exempt reserves132 | €81 | €81 | €81 | €81 | €81 | = |
| Distributable reserves133 | €77,556 | €77,556 | €77,556 | €77,556 | €77,556 | = |
| Profit (loss) carried forward14 | -€1.1m | -€1.4m | -€1.5m | -€1.6m | -€1.6m | ▼ 1.7% |
| Amounts payable17/49 | €2.7m | €2.6m | €2.2m | €2.1m | €2.1m | ▲ 0.1% |
| Amounts payable after more than one year17 | - | €7,600 | €7,600 | €4,500 | €4,500 | = |
| Financial debts170/4 | - | €7,600 | €7,600 | €4,500 | €4,500 | = |
| Amounts payable within one year42/48 | €2.7m | €2.6m | €2.2m | €2.1m | €2.1m | ▲ 0.1% |
| Trade debts44 | €7,600 | €550 | €3,199 | €2,178 | €8,342 | ▲ 283% |
| Suppliers440/4 | €7,600 | €550 | €3,199 | €2,178 | €8,342 | ▲ 283% |
| Other amounts payable47/48 | €2.7m | €2.6m | €2.2m | €2.1m | €2.1m | ▼ 0.2% |
| Accrued charges and deferred income492/3 | €87 | €1,674 | €1,704 | €1,704 | €1,762 | ▲ 3.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€68,519 | -€240,775 | -€133,409 | -€95,880 | -€27,062 | ▲ 71.8% |
| + Depreciation and write-downs630 | €190,803 | €194,944 | €194,335 | €151,414 | €110,899 | ▼ 26.8% |
| Operating cash flow (approximation) | €122,284 | -€45,831 | €60,926 | €55,534 | €83,837 | ▲ 51.0% |
| Investment in fixed assets (approximation) | - | €223,053 | €0 | €152,470 | €103,956 | ▼ 31.8% |
| Change in cash | - | €59,281 | -€110,250 | -€13,608 | -€7,157 | ▲ 47.4% |
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
Next filing, fiscal year 2026, expected by
2026
08-09
State Gazette act
Reappointments: Daniel FERON, Jean-Paul FERON and Marc FERON4 facts ▸
State Gazette act
Reappointments: Daniel FERON, Jean-Paul FERON and Marc FERON
4 facts ▸
- General meeting, 28-05-2026
- Director reappointment, Daniel FERON (director)
- Director reappointment, Jean-Paul FERON (director)
- Director reappointment, Marc FERON (director)
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 4 days late
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 64 days late
2022
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
12-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 73 days late
2020
31-12
Financial
Weakest financial yearnet -€577,798
Net result drops to -€577,798, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26112778). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Daniel FERON
CurrentDirector · since 28-05-2026
Jean-Paul FERON
CurrentDirector · since 28-05-2026
Marc FERON
CurrentDirector · since 28-05-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 1983
Ground area
1.9 ha
Building footprint
880 m²
Volume, LiDAR
5,867 m³
2 parcels, Brussels, Wallonia · tallest building 15.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Drabe 36, 1440 Braine-le-Château
since 19832.023.004.185
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0287/00S002indicative | Brussels | 1.7 ha | 1 · 761 m² | 15.4 m · 2 fl. |
| 25015A0310/00S000 | Wallonia | 1,400 m² | 1 · 119 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 3 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Daniel FERON |
|
| Jean-Paul FERON |
|
| Marc FERON |
|
Structure & network
Connections & network
3 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Recognitions · licences · registrations
Legal Entity Identifier
875500XJA8YZ1V1AF112
Identification & contact
Identification
Legal formPublic limited company
Founded17-08-1983
Fiscal year end31-12
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.