IMRADE
ActiveSummary
IMRADE has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €634,560 and a net result of -€35,231. Equity is growing by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 81% of 2213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-86
Solvency95▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 2.71 against 5.55 in 2024; short-term debt: 29.3% and cash: 1.5% of total assets), and 30.2% of the assets are financed with debt.
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Signals
Five 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
69.8%
Return on assets
-3.9%
Age of the figures
9 mo
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
60 d late
2023
22 d late
2022
30 d late
2021
30 d late
2020
23 d late
2019
104 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 38 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#4 oldest company in Schelle, Construction sector#5 company by equity in Schelle, Construction sector#7 company by total assets in Schelle, Construction sector
Equity
€634,560▼ 5.3%
2024 · €669,790
Total assets
€909,744▼ 3.6%
2024 · €943,460
Net result
-€35,231
2024 · €360,168
Working capital
€456,260▼ 26.5%
2024 · €620,952
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20212022202320242025
Operating result€4,733-€4,807€35,160€475,060▲ 1,251%-€28,259
Net result-€860below the sector's middle half▲ 96.5%-€9,483below the sector's middle half▼ 1,003%€30,761above the sector's middle half€360,168above the sector's middle half▲ 1,071%-€35,231below the sector's middle half
Equity€288,345above the sector's middle half▼ 0.3%€278,862above the sector's middle half▼ 3.3%€320,724above the sector's middle half▲ 15.0%€669,790above the sector's middle half▲ 109%€634,560above the sector's middle half▼ 5.3%
Total assets€528,789above the sector's middle half▼ 5.2%€513,543above the sector's middle half▼ 2.9%€506,311above the sector's middle half▼ 1.4%€943,460above the sector's middle half▲ 86.3%€909,744within the sector's middle half▼ 3.6%
Debt€240,444▼ 10.5%€234,681▼ 2.4%€185,587▼ 20.9%€150,657▼ 18.8%€275,185▲ 82.7%
Working capital-€43,393▼ 244%-€85,205▼ 96.4%-€71,762▲ 15.8%€620,952€456,260▼ 26.5%
Solvency54.5%within the sector's middle half▲ 2.7pp54.3%within the sector's middle half▼ 0.2pp63.3%within the sector's middle half▲ 9.0pp71.0%above the sector's middle half▲ 7.6pp69.8%above the sector's middle half▼ 1.2pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
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 turns negative in 2025: a loss of €28,259 after €475,060 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €909,744
Fixed assets
€186,633 ▲ 0.3%
Current assets
€723,111 ▼ 4.5%
Equity and liabilities €909,744
Equity
€634,560 ▼ 5.3%
Provisions
€0 ▼ 100%
Debt
€275,185 ▲ 82.7%
Debt's share of the balance-sheet total rises from 16.0% to 30.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€22,699▼
2024 · €481,044
Cash flow
-€29,671▼
2024 · €366,152
Current ratio
2.71▼
2024 · 5.55
Debt to equity
0.43▲
2024 · 0.22
ROE
-5.6%▼
2024 · 53.8%
ROA
-3.9%▼
2024 · 38.2%
Interest coverage
-4.92▼
2024 · 532.48
Debt ≤ 1 year
€266,851▲
2024 · €136,402
Debt > 1 year
€7,783▼
2024 · €13,705
Income taxes
€135,928▲
2024 · -€1,655
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,616 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 8,616 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €4,968 | €0 | €4,050 | - |
| Remuneration, social security and pensions62 | - | €348 | €384 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,225 | €13,678 | €13,931 | €5,984 | €5,560 | ▼ 7.1% |
| Other operating charges640/8 | €11,844 | €10,602 | €11,601 | €45,923 | €8,551 | ▼ 81.4% |
| Gross operating margin9900 | €27,802 | €19,821 | €61,076 | €526,967 | -€14,148 | ▼ 103% |
| Operating profit (loss)9901 | €4,733 | -€4,807 | €35,160 | €475,060 | -€28,259 | ▼ 106% |
| Financial income75/76B | - | - | €0 | €7,370 | €10,551 | ▲ 43.2% |
| Recurring financial income75 | - | - | €0 | €7,370 | €10,551 | ▲ 43.2% |
| Financial charges65/66B | €4,914 | €4,676 | €4,400 | €903 | €4,609 | ▲ 410% |
| Recurring financial charges65 | €4,914 | €4,676 | €4,400 | €903 | €4,609 | ▲ 410% |
| Profit (loss) for the period before taxes9903 | -€181 | -€9,483 | €30,761 | €481,527 | -€22,317 | ▼ 105% |
| Transfer from deferred taxes780 | - | - | - | - | €123,013 | - |
| Transfer to deferred taxes680 | - | - | - | €123,013 | €0 | ▼ 100% |
| Income taxes67/77 | €678 | - | - | -€1,655 | €135,928 | ▲ 8,314% |
| Profit (loss) for the period9904 | -€860 | -€9,483 | €30,761 | €360,168 | -€35,231 | ▼ 110% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €369,040 | - |
| Transfer to tax-exempt reserves689 | - | - | - | €369,040 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | -€860 | -€9,483 | €30,761 | -€8,872 | €333,809 | ▲ 3,863% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €528,789 | €513,543 | €506,311 | €943,460 | €909,744 | ▼ 3.6% |
| Fixed assets21/28 | €439,902 | €437,725 | €428,182 | €186,107 | €186,633 | ▲ 0.3% |
| Tangible fixed assets22/27 | €437,684 | €435,506 | €425,963 | €186,107 | €186,633 | ▲ 0.3% |
| Land and buildings22 | €429,803 | €420,266 | €410,964 | €179,571 | €176,016 | ▼ 2.0% |
| Plant, machinery and equipment23 | €5,409 | €13,684 | €14,358 | €6,536 | €4,877 | ▼ 25.4% |
| Furniture and vehicles24 | €2,472 | €1,556 | €641 | €0 | €5,740 | - |
| Financial fixed assets28 | €2,219 | €2,219 | €2,219 | €0 | - | - |
| Current assets29/58 | €88,887 | €75,818 | €78,129 | €757,354 | €723,111 | ▼ 4.5% |
| Amounts receivable after more than one year29 | - | €44,049 | €55,272 | €53,049 | €53,049 | = |
| Other amounts receivable291 | - | €44,049 | €55,272 | €53,049 | €53,049 | = |
| Amounts receivable within one year40/41 | €44,951 | €7,745 | €13,629 | €7,385 | €105,929 | ▲ 1,334% |
| Trade receivables40 | €24,602 | €2,554 | €7,876 | €1,913 | €0 | ▼ 100% |
| Other amounts receivable41 | €20,349 | €5,192 | €5,754 | €5,471 | €105,929 | ▲ 1,836% |
| Current investments50/53 | - | - | - | - | €547,629 | - |
| Cash at bank and in hand54/58 | €41,286 | €3,869 | €3,264 | €695,103 | €13,481 | ▼ 98.1% |
| Deferred charges and accrued income490/1 | €2,649 | €20,155 | €5,964 | €1,817 | €3,024 | ▲ 66.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €528,789 | €513,543 | €506,311 | €943,460 | €909,744 | ▼ 3.6% |
| Equity10/15 | €288,345 | €278,862 | €320,724 | €669,790 | €634,560 | ▼ 5.3% |
| Contributions10/11 | €414,937 | €414,937 | €426,038 | €414,937 | €414,937 | = |
| Capital10 | €414,937 | €414,937 | €414,937 | €414,937 | €414,937 | = |
| Issued capital100 | €414,937 | €414,937 | €414,937 | €414,937 | €414,937 | = |
| Outside capital11 | - | - | €11,101 | €0 | - | - |
| Other1109/19 | - | - | €11,101 | €0 | - | - |
| Reserves13 | €1,149 | €1,149 | €1,149 | €370,189 | €219,623 | ▼ 40.7% |
| Non-distributable reserves130/1 | €149 | €149 | €149 | €149 | €11,622 | ▲ 7,714% |
| Legal reserve130 | €149 | €149 | €149 | €149 | €11,622 | ▲ 7,714% |
| Tax-exempt reserves132 | - | - | - | €369,040 | €0 | ▼ 100% |
| Distributable reserves133 | €1,000 | €1,000 | €1,000 | €1,000 | €208,001 | ▲ 20,695% |
| Profit (loss) carried forward14 | -€127,741 | -€137,224 | -€106,463 | -€115,335 | €0 | ▲ 100% |
| Provisions and deferred taxes16 | - | - | - | €123,013 | €0 | ▼ 100% |
| Deferred taxes168 | - | - | - | €123,013 | €0 | ▼ 100% |
| Amounts payable17/49 | €240,444 | €234,681 | €185,587 | €150,657 | €275,185 | ▲ 82.7% |
| Amounts payable after more than one year17 | €108,165 | €73,658 | €35,696 | €13,705 | €7,783 | ▼ 43.2% |
| Financial debts170/4 | €108,165 | €73,658 | €35,696 | €13,705 | €7,783 | ▼ 43.2% |
| Amounts payable within one year42/48 | €132,279 | €161,023 | €149,891 | €136,402 | €266,851 | ▲ 95.6% |
| Current portion of amounts payable after more than one year42 | €34,480 | €34,507 | €37,962 | €22,814 | €5,922 | ▼ 74.0% |
| Financial debts43 | - | - | - | - | €150,000 | - |
| Credit institutions430/8 | - | - | - | - | €150,000 | - |
| Trade debts44 | - | €3,965 | €3,219 | €1,138 | €10 | ▼ 99.1% |
| Suppliers440/4 | - | €3,965 | €3,219 | €1,138 | €10 | ▼ 99.1% |
| Advances received on contracts in progress46 | - | €21,181 | - | - | - | - |
| Taxes, remuneration and social security45 | €5,747 | €2,829 | €3,178 | €2,531 | €11,000 | ▲ 335% |
| Taxes450/3 | €5,747 | €2,829 | €3,178 | €2,531 | €11,000 | ▲ 335% |
| Other amounts payable47/48 | €92,053 | €98,540 | €105,531 | €109,919 | €99,919 | ▼ 9.1% |
| Accrued charges and deferred income492/3 | - | - | - | €550 | €550 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€860 | -€9,483 | €30,761 | €360,168 | -€35,231 | ▼ 110% |
| + Depreciation and write-downs630 | €11,225 | €13,678 | €13,931 | €5,984 | €5,560 | ▼ 7.1% |
| Operating cash flow (approximation) | €10,365 | €4,195 | €44,691 | €366,152 | -€29,671 | ▼ 108% |
| Investment in fixed assets (approximation) | - | -€11,501 | -€4,388 | €236,090 | -€6,086 | ▼ 103% |
| Change in cash | - | -€37,417 | -€606 | €691,840 | -€681,622 | ▼ 199% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€35,231
Net result drops to -€35,231, the lowest in the series.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Highest result since 2018net €360,168 ▲1,071%
Operating result €475,060, net result €360,168, both a record.
31-12
Financial
Liquidity times 11current ratio 5.55
Current ratio from 0.52 to 5.55; short-term debt falls from €149,891 to €136,402.
31-12
Financial
Equity above €500,000Eq €669,790 ▲109%
2 profitable years in a row build equity to €669,790.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Back to profitnet €30,761
Net result €30,761 after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 104 days late
Show earlier events
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
11-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 72 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Schelle · 1 establishment unit since 1984
Ground area
1,772 m²
Building footprint
1,217 m²
Volume, LiDAR
5,020 m³
Parcel 11038B0096/00M000, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Provinciale Steenweg 121, 2627 Schelle
since 19842.025.534.105
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11038B0096/00M000 | Flanders | 1,772 m² | 1 · 1,217 m² | 8.2 m · 1 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.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 8,259 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
Founded15-10-1984
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427349039
Also
9925:BE0427349039
Registered
19-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.