Summary
IMPROX is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €155,716 and a net result of €95,905. Equity has been growing by about 7.7% per year since 2018. Its solvency ranks better than 48% of 6,692 sector peers (NACE 64, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 12-04-2013 Normal situation
- Activity
- Activities of holding companies NACE 64210and 1 other
- Establishment unit
- 2.218.423.652 9831 Sint-Martens-Latem, since 12-04-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 28-12-2025
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €95,905
- ▲ 89×
- Equity
- €155,716
- ▲ 160%
- Total assets
- €317,819
- ▲ 13.5%
- 2025 accounts filed 31 days after the deadline
Signalsraises risk2025 accounts filed 31 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
raises risk
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
31 days late
2024
30 days late
2023
30 days late
2022
31 days late
2021
31 days late
2020
31 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 31 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00496518.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 12 filings
Equity
€155,716▲ 160%
2024 · €59,810
Net result
€95,905▲ 89×
2024 · €1,078
Total assets
€317,819▲ 13.5%
2024 · €280,014
Solvency
49.0%▲ 27.6pp
2024 · 21.4%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€954
▼ 136%
2025
20182025
Net result
€95,905
▲ 89×
2025
middle half of the sector
20182025
Equity
€155,716
▲ 160%
2025
lowest quarter of the sector
20182025
Total assets
€317,819
▲ 13.5%
2025
lowest quarter of the sector
20182025
Debt
€162,103
▼ 26.4%
2025
20182025
Working capital
€85,674
2025
middle half of the sector
20182025
Solvency
49.0%
▲ 27.6pp
2025
middle half of the sector
20182025
Current ratio
10.82
▲ 10.03
2025
highest quarter of the sector
20182025
Return on assets (ROA)
30.2%
▲ 29.8pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€394--€18,682€9,094€4,778▼ 47.5%€431▼ 91.0%€1,962▲ 355%-€404-€954▼ 136%
Net result-€2,860-€44,617€5,700within the sector's middle half▼ 87.2%€1,326below the sector's middle half▼ 76.7%-€3,149below the sector's middle half-€1,716below the sector's middle half▲ 45.5%€1,078below the sector's middle half€95,905within the sector's middle half▲ 89×
Equity€11,955-€56,572▲ 373%€62,272below the sector's middle half▲ 10.1%€63,598below the sector's middle half▲ 2.1%€60,448below the sector's middle half▼ 5.0%€58,733below the sector's middle half▼ 2.8%€59,810below the sector's middle half▲ 1.8%€155,716below the sector's middle half▲ 160%
Total assets€365,701-€292,125▼ 20.1%€269,331below the sector's middle half▼ 7.8%€262,198below the sector's middle half▼ 2.6%€249,256below the sector's middle half▼ 4.9%€241,911below the sector's middle half▼ 2.9%€280,014below the sector's middle half▲ 15.8%€317,819below the sector's middle half▲ 13.5%
Debt€353,746-€235,553▼ 33.4%€207,059▼ 12.1%€198,601▼ 4.1%€188,808▼ 4.9%€183,179▼ 3.0%€220,203▲ 20.2%€162,103▼ 26.4%
Working capital-€135,759-€15,697€32,719within the sector's middle half▲ 108%€35,720within the sector's middle half▲ 9.2%€8,479within the sector's middle half▼ 76.3%€7,212within the sector's middle half▼ 14.9%-€12,708within the sector's middle half€85,674within the sector's middle half
Solvency3.3%-19.4%▲ 16.1pp23.1%below the sector's middle half▲ 3.8pp24.3%within the sector's middle half▲ 1.1pp24.3%below the sector's middle half=24.3%below the sector's middle half=21.4%below the sector's middle half▼ 2.9pp49.0%within the sector's middle half▲ 27.6pp
Current ratio0.03-1.53▲ 1.514.39above the sector's middle half▲ 2.854.70above the sector's middle half▲ 0.311.84within the sector's middle half▼ 2.861.53within the sector's middle half▼ 0.310.78within the sector's middle half▼ 0.7510.82above the sector's middle half▲ 10.03
Return on assets (ROA)-0.8%-15.3%▲ 16.1pp2.1%within the sector's middle half▼ 13.2pp0.5%within the sector's middle half▼ 1.6pp-1.3%below the sector's middle half▼ 1.8pp-0.7%below the sector's middle half▲ 0.6pp0.4%within the sector's middle half▲ 1.1pp30.2%above the sector's middle half▲ 29.8pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 €954, larger than the loss of €404 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €317,819
Fixed assets
€223,417 ▼ 4.4%
Current assets
€94,401 ▲ 104%
Equity and liabilities €317,819
Equity
€155,716 ▲ 160%
Debt
€162,103 ▼ 26.4%
Debt's share of the balance-sheet total falls from 78.6% to 51.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
61.6%▲
2024 · 1.8%
Debt ≤ 1 year
€8,728▼
2024 · €58,986
Debt > 1 year
€152,621▼
2024 · €160,462
Income taxes
€0▲
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €196,558 | €187,658 | €178,556 | €169,619 | €161,051 |
| Mortgages, amount registered | €332,500 | €332,500 | €332,500 | €332,500 | €332,500 |
| Carrying value of the mortgaged assets | €193,829 | €183,704 | €174,133 | €167,773 | €158,979 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €0 | €5,251 | - |
| Financial fixed assets | - | €24,000 | - | €41,432 | - |
| Depreciation and write-downs of the year | €10,125 | €10,125 | €9,571 | €10,087 | €10,318 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,125 | €10,125 | €10,125 | €10,125 | €10,125 | €9,571 | €10,087 | €10,318 | ▲ 2.3% |
| Other operating charges640/8 | - | - | - | €1,912 | €1,884 | €2,318 | €2,670 | €2,613 | ▼ 2.1% |
| Gross operating margin9900 | €12,020 | -€6,984 | €21,426 | €16,816 | €12,440 | €13,851 | €12,353 | €11,977 | ▼ 3.0% |
| Operating profit (loss)9901 | €394 | -€18,682 | €9,094 | €4,778 | €431 | €1,962 | -€404 | -€954 | ▼ 136% |
| Financial income75/76B | - | - | - | - | - | €149 | €6,270 | €102,236 | ▲ 16× |
| Recurring financial income75 | €839 | €147 | - | - | - | €149 | €0 | €102,236 | - |
| Non-recurring financial income76B | - | - | - | - | - | - | €6,270 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €3,452 | €3,581 | €3,827 | €4,787 | €5,377 | ▲ 12.3% |
| Recurring financial charges65 | €3,848 | €3,805 | €3,610 | €3,452 | €3,581 | €3,827 | €4,787 | €5,377 | ▲ 12.3% |
| Profit (loss) for the period before taxes9903 | -€2,616 | €44,617 | €5,700 | €1,326 | -€3,149 | -€1,716 | €1,078 | €95,905 | ▲ 89× |
| Income taxes67/77 | €244 | €0 | €0 | - | - | - | €0 | €0 | ▲ 150% |
| Profit (loss) for the period9904 | -€2,860 | €44,617 | €5,700 | €1,326 | -€3,149 | -€1,716 | €1,078 | €95,905 | ▲ 89× |
| Profit (loss) for the period to be appropriated9905 | -€2,860 | €44,617 | €5,700 | €1,326 | -€3,149 | -€1,716 | €1,078 | €95,905 | ▲ 89× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €365,701 | €292,125 | €269,331 | €262,198 | €249,256 | €241,911 | €280,014 | €317,819 | ▲ 13.5% |
| Fixed assets21/28 | €362,038 | €247,086 | €226,960 | €216,835 | €230,710 | €221,139 | €233,735 | €223,417 | ▼ 4.4% |
| Tangible fixed assets22/27 | €224,205 | €214,079 | €203,954 | €193,829 | €183,704 | €174,133 | €169,297 | €158,979 | ▼ 6.1% |
| Land and buildings22 | - | - | - | €192,485 | €183,176 | €173,867 | €166,082 | €156,607 | ▼ 5.7% |
| Furniture and vehicles24 | - | - | - | €1,344 | €528 | €266 | €3,215 | €2,371 | ▼ 26.2% |
| Financial fixed assets28 | €137,833 | €33,006 | €23,006 | €23,006 | €47,006 | €47,006 | €64,439 | €64,439 | = |
| Current assets29/58 | €3,663 | €45,039 | €42,371 | €45,363 | €18,546 | €20,773 | €46,278 | €94,401 | ▲ 104% |
| Amounts receivable within one year40/41 | €976 | €2,904 | €7,430 | €205 | €668 | €539 | €20,732 | €63,809 | ▲ 208% |
| Trade receivables40 | - | - | - | €205 | €363 | €0 | - | - | - |
| Other amounts receivable41 | - | - | - | - | €305 | €539 | €20,732 | €63,809 | ▲ 208% |
| Current investments50/53 | - | - | - | - | - | - | €23,500 | €29,500 | ▲ 25.5% |
| Cash at bank and in hand54/58 | €2,112 | €41,615 | €32,840 | €45,159 | €17,878 | €20,233 | €2,046 | €1,092 | ▼ 46.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €365,701 | €292,125 | €269,331 | €262,198 | €249,256 | €241,911 | €280,014 | €317,819 | ▲ 13.5% |
| Equity10/15 | €11,955 | €56,572 | €62,272 | €63,598 | €60,448 | €58,733 | €59,810 | €155,716 | ▲ 160% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €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 | €1,860 | = |
| Profit (loss) carried forward14 | -€2,305 | €42,312 | €48,012 | €49,338 | €46,188 | €44,473 | €45,550 | €141,456 | ▲ 211% |
| Amounts payable17/49 | €353,746 | €235,553 | €207,059 | €198,601 | €188,808 | €183,179 | €220,203 | €162,103 | ▼ 26.4% |
| Amounts payable after more than one year17 | €214,323 | €205,500 | €196,558 | €187,458 | €178,556 | €169,619 | €160,462 | €152,621 | ▼ 4.9% |
| Financial debts170/4 | - | - | - | €187,458 | €178,556 | €169,619 | €160,462 | €152,621 | ▼ 4.9% |
| Amounts payable within one year42/48 | €139,423 | €29,342 | €9,652 | €9,643 | €10,067 | €13,560 | €58,986 | €8,728 | ▼ 85.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,100 | €9,102 | €8,937 | €9,156 | €8,430 | ▼ 7.9% |
| Trade debts44 | €614 | €830 | - | - | €822 | €272 | €240 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | - | €822 | €272 | €240 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €363 | €125 | €125 | €413 | €297 | ▼ 28.1% |
| Taxes450/3 | - | - | - | €363 | €125 | €125 | €413 | €297 | ▼ 28.1% |
| Other amounts payable47/48 | - | - | - | €180 | €18 | €4,226 | €49,176 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €1,500 | €185 | €0 | €755 | €755 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,860 | €44,617 | €5,700 | €1,326 | -€3,149 | -€1,716 | €1,078 | €95,905 | ▲ 89× |
| + Depreciation and write-downs630 | €10,125 | €10,125 | €10,125 | €10,125 | €10,125 | €9,571 | €10,087 | €10,318 | ▲ 2.3% |
| Operating cash flow (approximation) | €7,266 | €54,742 | €15,825 | €11,451 | €6,976 | €7,855 | €11,165 | €106,223 | ▲ 851% |
| Investment in fixed assets (approximation) | - | €104,827 | €10,000 | €0 | -€24,000 | €0 | -€22,684 | €0 | - |
| Change in cash | - | €39,503 | -€8,774 | €12,318 | -€27,280 | €2,355 | -€18,187 | -€954 | ▲ 94.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00496518 | |
| 31-12-2024 | abbreviated format | 30-08-2025 | 2025-00448300 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00409284 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00394918 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20368743 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-65700260 | |
| 31-12-2019 | abbreviated format | 31-08-2020 | 2020-47000273 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-62700224 | |
| 31-12-2017 | abbreviated format | 26-07-2018 | 2018-41100122 | |
| 31-12-2016 | micro format | 28-07-2017 | 2017-37400465 |
Board & ownership
Directors
Directors
1 director
Govaert Tim
Current
Director · listed in the 2025 annual accounts, filed on 31-08-2026
Owners and capital
Owners
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
- TREAVOsubsidiarySourceown accounts 2025Equity €96,328 Profit of €74,976 in 2025 (profit of €53,222 in 2024) Checked score 72100%
- Equity €13.2m Loss of €2.3m in 2025 (loss of €1.9m in 2024) Checked score 950.13%
Companies at the same address
2 other companiesConnections & network
1 current directorThe network starts from the directors of IMPROX. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
31-08
abbreviated format · 31 days late
14-01
Gazette deed
Registered office moved from Gent to Deurle3 points ▸
Gazette deed
Registered office moved from Gent to Deurle
3 points ▸
- Board meeting, 01-10-2025
- Registered-office move, Antoon De Pesseroeylaan 19,9831 Deurle
- Other provision, “Antoon De Pesseroeylaan 19,9831 Deurle” (deed in Dutch)
2025
31-12
Financial
Highest result from 2018 to 2025net €95,905 ▲8,798%
The net result of €95,905 is the highest of those years.
31-12
Financial
Liquidity more than 13 timescurrent ratio 10.82
The current ratio rises from 0.78 to 10.82. Short-term debt falls from €58,986 to €8,728.
31-12
Financial
Equity above €150,000equity €155,716 ▲160%
After 2 profitable years in a row, equity reaches €155,716.
30-08
abbreviated format · 30 days late
2024
31-12
Financial
Back to profitnet €1,078
The net result is €1,078, after 2 loss-making years.
30-08
abbreviated format · 30 days late
2023
31-08
abbreviated format · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€3,149
The net result drops to -€3,149, the lowest from 2018 to 2025. It recovers the following year.
31-08
abbreviated format · 31 days late
2021
31-08
abbreviated format · 31 days late
Show earlier events
2020
31-12
Financial
Liquidity more than doubledcurrent ratio 4.39
The current ratio rises from 1.53 to 4.39. Short-term debt falls from €29,342 to €9,652.
31-08
abbreviated format · 31 days late
2019
31-12
Financial
Back to profitnet €44,617
The net result is €44,617, after one loss-making year.
31-12
Financial
Liquidity more than 58 timescurrent ratio 1.53
The current ratio rises from 0.03 to 1.53. Short-term debt falls from €139,423 to €29,342.
30-08
abbreviated format · 30 days late
2018
26-07
abbreviated format · 5 days before the deadline
2017
28-07
micro format · 3 days before the deadline
2013
16-04
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
IMPROX in Dutch
Enterprise number
0525.971.117
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
12-04-2013
Entity type
Legal entity
Registered office and establishments
Registered office
Antoon De Pesseroeylaan 19, 9831 Sint-Martens-Latem, Belgium
1 former office
- Verpleegstersstraat 229, 9000 Gent until 01-10-2025 · act of 14-01-2026
Establishment unit
Improx, Antoon De Pesseroeylaan 19, 9831 Sint-Martens-Latem since 12-04-2013 · unit number 2.218.423.652
Activities
NACEBEL 202564210
Activities of holding companies main activity
85699
Other educational support services
Codes under NACEBEL 2008
64200
Holdings main activity
85609
Education
Invoicing and payment
VAT number
BE 0525.971.117
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
1,282 m²
Building footprint
193 m²
Building volume
1,082 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44015A0363/00M000 | Flanders | 1,282 m² | 1 · 193 m² | 8.2 m · 2 |