IMSTO
ActiveIMSTO has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34.15M and a net result of €18.40M. Equity is shrinking by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 650 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
66
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65=
Solvency57▼-29
Growth50▼-15
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300k at 30 days acceptable
Liquidity short (current ratio 0.48 against 0.17 in 2024; short-term debt: 13.6% and cash: 0.6% of total assets), and 67.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Sector 52
higher
← 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 dateAge against the risk zone
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
32.4%
Return on assets
17.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 20-07-2026, 10 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
10 d early
2024
8 d early
2023
22 d early
2022
32 d early
2021
15 d early
2020
17 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today30-12-2026 close30-07-2027 deadline
Financials · fiscal year 2025, full schema, statutory
Turnover
€3.08M▼ 6.1%
2024 · €3.28M
2018: €2.89M
2019: €2.92M
2020: €2.77M
2021: €2.76M
2022: €3.29M
2023: €3.27M
2024: €3.28M
2018 → 2025
EBIT margin
58.2%▲ 4.3pp
2024 · 53.9%
2018: 57.5%
2019: 55.9%
2020: 69.1%
2021: 94.5%
2022: 44.7%
2023: 63.4%
2024: 53.9%
2018 → 2025
Net result
€18.40M▲ 22.3%
2024 · €15.05M
2018: €194k
2019: €1.63M
2020: €1.94M
2021: €1.73M
2022: €-557k
2023: €872k
2024: €15.05M
2018 → 2025
Working capital
€-7.47M▲ 62.1%
2024 · €-19.70M
2018: €-10.88M
2019: €9.99M
2020: €7.21M
2021: €3.80M
2022: €-10.13M
2023: €-5.02M
2024: €-19.70M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.76M-€3.29M▲ 18.9%€3.27M▼ 0.4%€3.28M▲ 0.3%€3.08M▼ 6.1%
Equity€51.62M-€43.45M▼ 15.8%€44.32M▲ 2.0%€55.08M▲ 24.3%€34.15M▼ 38.0%
Operating result€2.61M-€1.47M▼ 43.8%€2.07M▲ 41.3%€1.77M▼ 14.7%€1.79M▲ 1.4%
Net result€1.73M-€-557k€872k€15.05M▲ 1,626%€18.40M▲ 22.3%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105.35M
Fixed assets
€98.51M▲ 14.2%
Current assets
€6.84M▲ 66.0%
Equity and liabilities €105.35M
Equity
€34.15M▼ 38.0%
Debt
€71.20M▲ 102%
The debt ratio rises from 39.0% to 67.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1.95M▲
2024 · €1.86M
Cash flow
€18.55M▲
2024 · €15.14M
Solvency
32.4%▼
2024 · 61.0%
Current ratio
0.48▲
2024 · 0.17
Quick ratio
0.48▲
2024 · 0.17
Debt / equity
2.08▲
2024 · 0.64
ROE
53.9%▲
2024 · 27.3%
ROA
17.5%▲
2024 · 16.7%
Interest coverage
0.74▼
2024 · 0.94
Debt
€71.20M▲
2024 · €35.28M
Debt ≤ 1 year
€14.31M▼
2024 · €23.82M
Debt > 1 year
€56.71M▲
2024 · €11.16M
Income taxes
€2k▲
2024 · €2k
Staff costs
€2.81M▲
2024 · €1.95M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€90.36M€105.35M▲
Fixed assets21/28€86.24M€98.51M▲
Tangible fixed assets22/27€11.33M€11.40M▲
Land and buildings22€11.28M€11.31M▲
Plant, machinery and equipment23€43k€58k▲
Furniture and vehicles24-€23k
Financial fixed assets28€74.91M€87.11M▲
Affiliated companies280/1€48.31M€48.18M▼
Participating interests280€48.31M€48.18M▼
Companies linked by participating interests282/3€26.60M€38.68M▲
Participating interests282€22.89M€25.12M▲
Amounts receivable283€3.72M€13.56M▲
Other financial fixed assets284/8€248€250k▲
Shares284-€250k
Amounts receivable and cash guarantees285/8€248-
Current assets29/58€4.12M€6.84M▲
Amounts receivable after more than one year29-€250k
Other amounts receivable291-€250k
Amounts receivable within one year40/41€3.43M€5.85M▲
Trade receivables40€2.98M€3.64M▲
Other amounts receivable41€450k€2.21M▲
Cash at bank and in hand54/58€668k€651k▼
Deferred charges and accrued income490/1€24k€93k▲
Equity and liabilities
Total equity and liabilities10/49€90.36M€105.35M▲
Equity10/15€55.08M€34.15M▼
Contributions10/11€6.33M€6.33M=
Capital10€6.32M€6.32M=
Issued capital100€6.32M€6.32M=
Outside capital11€5k€5k=
Share premium1100/10€5k€5k=
Reserves13€2.91M€2.83M▼
Non-distributable reserves130/1€1.43M€1.43M=
Legal reserve130€1.43M€1.43M=
Tax-exempt reserves132€238k€156k▼
Distributable reserves133€1.24M€1.24M=
Profit (loss) carried forward14€45.84M€25.00M▼
Amounts payable17/49€35.28M€71.20M▲
Amounts payable after more than one year17€11.16M€56.71M▲
Financial debts170/4€11.16M€56.71M▲
Subordinated loans170€5.50M-
Credit institutions173€5.66M€5.30M▼
Other loans174-€51.41M
Amounts payable within one year42/48€23.82M€14.31M▼
Current portion of amounts payable after more than one year42€602k€422k▼
Trade debts44€1.11M€1.64M▲
Suppliers440/4€1.11M€1.64M▲
Taxes, remuneration and social security45€278k€425k▲
Taxes450/3€52k€76k▲
Remuneration and social security454/9€226k€350k▲
Other amounts payable47/48€21.83M€11.83M▼
Accrued charges and deferred income492/3€300k€175k▼
Income statement
Code20242025
Operating income70/76A€9.45M€11.31M▲
Turnover70€3.28M€3.08M▼
Other operating income74€6.17M€7.99M▲
Non-recurring operating income76A-€240k
Operating charges60/66A€7.68M€9.51M▲
Services and other goods61€5.45M€6.46M▲
Remuneration, social security and pensions62€1.95M€2.81M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€90k€153k▲
Other operating charges640/8€185k€82k▼
Operating profit (loss)9901€1.77M€1.79M▲
Financial income75/76B€15.27M€20.97M▲
Recurring financial income75€100k€20.97M▲
Income from financial fixed assets750€99k€20.94M▲
Income from current assets751-€23k
Other financial income752/9€2k€2k▲
Non-recurring financial income76B€15.17M-
Financial charges65/66B€1.99M€4.36M▲
Recurring financial charges65€1.99M€4.36M▲
Debt charges650€1.97M€2.63M▲
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€14k-
Other financial charges652/9€5k€1.73M▲
Profit (loss) for the period before taxes9903€15.05M€18.40M▲
Income taxes67/77€2k€2k▲
Taxes670/3€2k€2k▲
Profit (loss) for the period9904€15.05M€18.40M▲
Transfer from tax-exempt reserves789-€81k
Transfer to tax-exempt reserves689€236k-
Profit (loss) for the period to be appropriated9905€14.81M€18.48M▲
Appropriation of the result
Profit (loss) to be appropriated9906€50.13M€64.32M▲
Profit (loss) brought forward from the previous period14P€35.32M€45.84M▲
Profit to be distributed694/7€4.29M€39.33M▲
Return on contributions (dividend)694€4.29M€39.33M▲
Social balance
Average headcount (FTE)908724.431.9▲
The notes to these accounts (79 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-08
State Gazette act
Capital & shares · Resignations & appointmentsBoard meeting · Director resignation · Director appointment23 facts ▸
State Gazette act
Capital & shares · Resignations & appointments
Board meeting · Director resignation · Director appointment23 facts ▸
- Board meeting, 7 juli 2026
- Director resignation, LOGIFIN-IT (gedelegeerd bestuurder/CEO)
- Director resignation, VIACONTA (directeur (financieel directeur of CFO))
- Director resignation, EVOLVE TALENT (directeur (HR directeur))
- Director resignation, STEJO (directeur (Agro directeur))
- Director resignation, LIMA-IT (directeur (IT directeur of CIO))
- Director appointment, LOGIFIN-IT (dagelijks bestuurder/Chief People Officer)
- Director appointment, SV STRATEGY (directeur)
- Director appointment, CEVADES (directeur)
- Director appointment, VIERWEG (dagelijks bestuurder)
- Director appointment, KRIEL (dagelijks bestuurder)
- Permanent representative, Hannelore RAES
- +11 further facts in this act
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-12
Financial
Highest result since 2018net €18.40M ▲22.3%
Net result €18.40M, the highest in the series.
11-12
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-12
Financial
Equity above €50MEq €55.08M ▲24.3%
2 profitable years in a row build equity to €55.08M.
25-11
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-12
Financial
Back to profitnet €872k
Net result €872k after one loss-making year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-12
Financial
Weakest financial yearnet €-557k ▼132%
Net result drops to €-557k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
30-12
Financial
Liquidity times 12current ratio 2.10
Current ratio from 0.18 to 2.10; short-term debt falls from €13.21M to €9.06M.
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26105289). 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.
CEVADES
CurrentDirector (executive) · since 04-05-2026 · Private limited company · perm. rep.: Cédric Van Dessel
KRIEL
CurrentDagelijks bestuurder · since 01-01-2026 · Limited partnership · perm. rep.: Kristof WALLAYS
LOGIFIN-IT
CurrentDagelijks bestuurder/chief people officer · since 01-01-2026 · Private limited company · perm. rep.: Hannelore RAES
SV Strategy
CurrentDirector (executive) · since 01-01-2026 · Private limited company · perm. rep.: Simon Vansteenkiste
VIERWEG
CurrentDagelijks bestuurder · since 01-01-2026 · Private limited company · perm. rep.: Carmen Wallays
04-05-2026
CEVADES: Appointed as Director (executive)
01-01-2026
KRIEL: Appointed as Dagelijks bestuurder
01-01-2026
LOGIFIN-IT: Appointed as Dagelijks bestuurder/chief people officer
01-01-2026
LOGIFIN-IT: Resigned as Gedelegeerd bestuurder/ceo
01-01-2026
SV Strategy: Appointed as Director (executive)
01-01-2026
VIERWEG: Appointed as Dagelijks bestuurder
01-01-2026
Evolve Talent: Resigned as Directeur (hr directeur)
01-01-2026
STEJO: Resigned as Directeur (agro directeur)
01-01-2026
VIACONTA: Resigned as Directeur (financieel directeur of cfo)
Location & real-estate footprint
Registered office, Harelbeke · 2 establishment units since 1986
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Waterstraat 408531 HarelbekeGround area
25.5 ha
Building footprint
3.3 ha
Volume, LiDAR
2,583 m³
2 parcels, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Waterstraat 40, 8531 Harelbeke
since 19862.029.194.666
IMSTO
since 20252.375.317.885
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37017B0010/00K002 | Flanders | 25.4 ha | 1 · 3.2 ha | - |
| 34017C0023/00H000 | Flanders | 890 m² | 1 · 424 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared corporate director
→
Group per the LEI register
3 subsidiaries, 1 abroadPublic money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 2,066 EUR awarded · 2,066 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 426 EUR | 426 EUR |
| 2023 | 1 | 820 EUR | 820 EUR |
| 2022 | 1 | 820 EUR | 820 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Food safety, FASFC
1 siteHarelbeke2.029.194.666
Legal Entity Identifier
549300MLOWRJTS14HG02
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Of 1,030 companies in sector 52100 we hold annual accounts for 764. 172 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded25-02-1986
Fiscal year end30-12
Activities, NACEBEL
15333
52100Warehousing and storage
63121
10393Manufacture of food products
15332
Sources
Crossroads Bank for EnterprisesNational Bank · 58 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.