Imvap
ActiveSummary
Imvap has been active since 1973 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.9m and a net result of €344,194. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 34% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▲+4
Solvency46▲+3
Growth72▲+1
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity short (current ratio 0.46 against 0.63 in 2024; short-term debt: 9.6% and cash: 0.1% of total assets), and 78.6% 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○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
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 · 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
21.4%
Return on assets
0.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 7 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
11 d late
2024
14 d early
2023
40 d early
2022
26 d early
2021
53 d early
2020
29 d early
2019
17 d early
← 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 24 days before 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 (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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#1 oldest company in Zoersel, Real estate sector#3 company by total assets in Zoersel, Real estate sector#3 company by equity in Zoersel, Real estate sector
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€1.5m▲ 13.5%
2024 · €1.3m
EBIT margin
54.6%▲ 51.6pp
2024 · 3.0%
Net result
€344,194▼ 53.5%
2024 · €739,638
Working capital
-€2.7m▲ 42.3%
2024 · -€4.6m
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
Line20212022202320242025
Turnover€1.0m▼ 6.0%€1.0m▲ 0.2%€1.3m▲ 27.0%€1.3m▼ 0.2%€1.5m▲ 13.5%
Operating result€7.1m▲ 339%€191,947▼ 97.3%€150,461▼ 21.6%€39,228▼ 73.9%€815,793▲ 1,980%
Net result€6.2mabove the sector's middle half▲ 82.7%-€350,908below the sector's middle half-€1.4mbelow the sector's middle half▼ 304%€739,638above the sector's middle half€344,194above the sector's middle half▼ 53.5%
EBIT margin685.9%▲ 538.8pp18.5%▼ 667.4pp11.4%▼ 7.1pp3.0%▼ 8.4pp54.6%▲ 51.6pp
Equity€18.6mabove the sector's middle half▲ 50.4%€18.3mabove the sector's middle half▼ 1.9%€16.9mabove the sector's middle half▼ 7.8%€10.6mabove the sector's middle half▼ 37.1%€10.9mabove the sector's middle half▲ 3.2%
Total assets€59.2mabove the sector's middle half▼ 2.2%€59.8mabove the sector's middle half▲ 1.0%€59.1mabove the sector's middle half▼ 1.2%€58.3mabove the sector's middle half▼ 1.5%€51.2mabove the sector's middle half▼ 12.1%
Debt€40.6m▼ 15.7%€41.6m▲ 2.3%€42.3m▲ 1.8%€47.7m▲ 12.7%€38.7m▼ 18.7%
Working capital€1.6m▼ 53.8%€3.6m▲ 132%€3.8m▲ 6.3%-€4.6m-€2.7m▲ 42.3%
Solvency31.4%within the sector's middle half▲ 11.0pp30.5%within the sector's middle half▼ 0.9pp28.5%within the sector's middle half▼ 2.0pp18.2%within the sector's middle half▼ 10.3pp21.4%within the sector's middle half▲ 3.2pp
Staff (FTE)1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1within 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.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 1,980% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €51.2m
Fixed assets
€49.0m ▼ 2.9%
Current assets
€2.3m ▼ 71.2%
Equity and liabilities €51.2m
Equity
€10.9m ▲ 3.2%
Provisions
€1.5m
Debt
€38.7m ▼ 18.7%
Debt's share of the balance-sheet total falls from 81.8% to 75.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.6m▲
2024 · €674,876
Cash flow
€1.1m▼
2024 · €1.4m
Current ratio
0.46▼
2024 · 0.63
Debt to equity
3.54▼
2024 · 4.50
ROE
3.1%▼
2024 · 7.0%
ROA
0.7%▼
2024 · 1.3%
Interest coverage
1.24▲
2024 · 0.34
Debt ≤ 1 year
€4.9m▼
2024 · €12.5m
Debt > 1 year
€32.3m▼
2024 · €33.7m
Staff costs
€61,938▼
2024 · €62,406
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €10.2m | €1.5m | €1.4m | €1.3m | €2.1m | ▲ 61.6% |
| Turnover70 | €1.0m | €1.0m | €1.3m | €1.3m | €1.5m | ▲ 13.5% |
| Other operating income74 | €9.1m | €458,938 | €50,249 | €9,384 | €100,596 | ▲ 972% |
| Non-recurring operating income76A | - | - | - | - | €547,596 | - |
| Operating charges60/66A | €3.0m | €1.3m | €1.2m | €1.3m | €1.3m | ▲ 3.2% |
| Services and other goods61 | €811,897 | €414,398 | €421,153 | €482,538 | €323,569 | ▼ 32.9% |
| Remuneration, social security and pensions62 | €50,455 | €56,992 | €62,173 | €62,406 | €61,938 | ▼ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €706,970 | €704,638 | €666,851 | €635,648 | €802,755 | ▲ 26.3% |
| Other operating charges640/8 | €76,187 | €112,076 | €68,084 | €105,963 | €79,780 | ▼ 24.7% |
| Non-recurring operating charges66A | €1.4m | €17,474 | €469 | €0 | €59,090 | - |
| Operating profit (loss)9901 | €7.1m | €191,947 | €150,461 | €39,228 | €815,793 | ▲ 1,980% |
| Financial income75/76B | €991,716 | €617,435 | €388,477 | €2.7m | €2.1m | ▼ 22.4% |
| Recurring financial income75 | €991,716 | €617,435 | €388,477 | €2.7m | €2.1m | ▼ 22.4% |
| Income from financial fixed assets750 | €952,477 | €500,000 | €0 | €2.3m | €2.0m | ▼ 13.0% |
| Income from current assets751 | €805 | €117,328 | €388,475 | €417,582 | €108,132 | ▼ 74.1% |
| Other financial income752/9 | €38,433 | €107 | €2 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €1.0m | €1.0m | €2.0m | €2.0m | €2.6m | ▲ 27.9% |
| Recurring financial charges65 | €1.0m | €1.0m | €2.0m | €2.0m | €1.3m | ▼ 34.8% |
| Debt charges650 | €897,784 | €994,748 | €1.9m | €2.0m | €1.3m | ▼ 35.0% |
| Other financial charges652/9 | €107,114 | €11,382 | €13,540 | €5,562 | €7,629 | ▲ 37.2% |
| Non-recurring financial charges66B | - | - | - | - | €1.3m | - |
| Profit (loss) for the period before taxes9903 | €7.1m | -€196,747 | -€1.4m | €739,638 | €344,194 | ▼ 53.5% |
| Income taxes67/77 | €856,757 | €154,161 | €0 | - | - | - |
| Taxes670/3 | €856,757 | €154,161 | €0 | - | - | - |
| Profit (loss) for the period9904 | €6.2m | -€350,908 | -€1.4m | €739,638 | €344,194 | ▼ 53.5% |
| Profit (loss) for the period to be appropriated9905 | €6.2m | -€350,908 | -€1.4m | €739,638 | €344,194 | ▼ 53.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €59.2m | €59.8m | €59.1m | €58.3m | €51.2m | ▼ 12.1% |
| Fixed assets21/28 | €51.4m | €50.0m | €49.3m | €50.4m | €49.0m | ▼ 2.9% |
| Tangible fixed assets22/27 | €9.9m | €8.4m | €7.7m | €8.9m | €8.6m | ▼ 2.8% |
| Land and buildings22 | €6.4m | €5.3m | €5.1m | €5.0m | €5.0m | ▼ 0.2% |
| Plant, machinery and equipment23 | €1.2m | €980,290 | €741,248 | €2.3m | €2.1m | ▼ 6.9% |
| Furniture and vehicles24 | €1.1m | €1.0m | €934,605 | €854,813 | €860,847 | ▲ 0.7% |
| Leasing and similar rights25 | €1.2m | €1.1m | €912,980 | €764,195 | €615,410 | ▼ 19.5% |
| Other tangible fixed assets26 | €27,662 | €27,662 | €27,662 | €27,662 | €27,662 | = |
| Assets under construction and advance payments27 | €0 | - | - | - | €59,671 | - |
| Financial fixed assets28 | €41.6m | €41.6m | €41.6m | €41.6m | €40.3m | ▼ 2.9% |
| Affiliated companies280/1 | €41.6m | €41.6m | €41.6m | €41.6m | €40.3m | ▼ 2.9% |
| Participating interests280 | €41.6m | €41.6m | €41.6m | €41.6m | €40.3m | ▼ 2.9% |
| Current assets29/58 | €7.8m | €9.9m | €9.8m | €7.8m | €2.3m | ▼ 71.2% |
| Amounts receivable after more than one year29 | €7.8m | €8.8m | €9.7m | €7.5m | €573,570 | ▼ 92.3% |
| Other amounts receivable291 | €7.8m | €8.8m | €9.7m | €7.5m | €573,570 | ▼ 92.3% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €3,150 | €200,197 | €5,562 | €262,060 | €66,836 | ▼ 74.5% |
| Trade receivables40 | €3,150 | €192,727 | €93 | €195,966 | €55,099 | ▼ 71.9% |
| Other amounts receivable41 | €0 | €7,469 | €5,469 | €66,094 | €11,737 | ▼ 82.2% |
| Current investments50/53 | - | - | - | - | €1.6m | - |
| Own shares50 | - | - | - | - | €1.6m | - |
| Cash at bank and in hand54/58 | €3,366 | €802,303 | €80,022 | €64,678 | €49,311 | ▼ 23.8% |
| Deferred charges and accrued income490/1 | €28,905 | €31,108 | €5,915 | €50,912 | €4,940 | ▼ 90.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €59.2m | €59.8m | €59.1m | €58.3m | €51.2m | ▼ 12.1% |
| Equity10/15 | €18.6m | €18.3m | €16.9m | €10.6m | €10.9m | ▲ 3.2% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €399,197 | €399,197 | €399,197 | €399,197 | €2.0m | ▲ 391% |
| Non-distributable reserves130/1 | €104,598 | €104,598 | €104,598 | €104,598 | €1.7m | ▲ 1,491% |
| Legal reserve130 | €104,598 | €104,598 | €104,598 | €104,598 | €104,598 | = |
| Own shares acquired1312 | - | - | - | - | €1.6m | - |
| Tax-exempt reserves132 | €12,824 | €12,824 | €12,824 | €12,824 | €12,824 | = |
| Distributable reserves133 | €281,775 | €281,775 | €281,775 | €281,775 | €281,775 | = |
| Profit (loss) carried forward14 | €17.2m | €16.8m | €15.4m | €9.2m | €7.9m | ▼ 13.3% |
| Provisions and deferred taxes16 | - | - | - | - | €1.5m | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €1.5m | - |
| Other liabilities and charges164/5 | - | - | - | - | €1.5m | - |
| Amounts payable17/49 | €40.6m | €41.6m | €42.3m | €47.7m | €38.7m | ▼ 18.7% |
| Amounts payable after more than one year17 | €34.3m | €35.2m | €36.2m | €33.7m | €32.3m | ▼ 4.0% |
| Financial debts170/4 | €14.5m | €10.9m | €15.6m | €12.7m | €8.5m | ▼ 33.2% |
| Subordinated loans170 | €1.5m | €1.5m | €1.5m | €2.5m | €2.5m | ▲ 2.0% |
| Leasing and similar obligations172 | €883,990 | €666,019 | €445,159 | €221,369 | €0 | ▼ 100% |
| Credit institutions173 | €12.1m | €8.8m | €13.7m | €10.0m | €5.9m | ▼ 40.6% |
| Other amounts payable178/9 | €19.9m | €24.3m | €20.6m | €21.0m | €23.9m | ▲ 13.8% |
| Amounts payable within one year42/48 | €6.3m | €6.3m | €6.0m | €12.5m | €4.9m | ▼ 60.5% |
| Current portion of amounts payable after more than one year42 | €4.9m | €4.3m | €4.8m | €4.1m | €4.3m | ▲ 3.9% |
| Financial debts43 | €0 | - | - | - | €261,046 | - |
| Credit institutions430/8 | €0 | - | - | - | €261,046 | - |
| Trade debts44 | €337,867 | €358,580 | €390,416 | €623,198 | €321,034 | ▼ 48.5% |
| Suppliers440/4 | €337,867 | €358,580 | €390,416 | €623,198 | €321,034 | ▼ 48.5% |
| Taxes, remuneration and social security45 | €871,775 | €869,226 | €11,276 | €11,270 | €11,920 | ▲ 5.8% |
| Taxes450/3 | €871,353 | €868,668 | €11,276 | €11,270 | €11,920 | ▲ 5.8% |
| Remuneration and social security454/9 | €421 | €559 | €0 | - | - | - |
| Other amounts payable47/48 | €159,236 | €777,737 | €761,825 | €7.7m | €80,276 | ▼ 99.0% |
| Accrued charges and deferred income492/3 | €16,264 | €37,917 | €39,941 | €1.5m | €1.5m | ▼ 3.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6.2m | -€350,908 | -€1.4m | €739,638 | €344,194 | ▼ 53.5% |
| + Depreciation and write-downs630 | €706,970 | €704,638 | €666,851 | €635,648 | €802,755 | ▲ 26.3% |
| Operating cash flow (approximation) | €6.9m | €353,730 | -€752,182 | €1.4m | €1.1m | ▼ 16.6% |
| Investment in fixed assets (approximation) | - | €754,178 | -€14,855 | -€1.8m | €663,136 | ▲ 138% |
| Change in cash | - | €798,937 | -€722,281 | -€15,344 | -€15,368 | ▼ 0.2% |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 11 days late
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €739,638
Net result €739,638 after 2 loss-making years.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €6.2m ▲82.7%
Operating result €7.1m, net result €6.2m, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €3.4m
Net result €3.4m after 2 loss-making years.
31-12
Financial
Liquidity times 6current ratio 1.83
Current ratio from 0.29 to 1.83; short-term debt falls from €34.1m to €4.0m.
31-12
Financial
Equity above €10mEq €12.4m ▲38.1%
Equity rises from €9.0m to €12.4m.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 26 acts read
About the unread acts
We know of 26 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
26 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, Zoersel · 1 establishment unit since 1973
Ground area
7,818 m²
Building footprint
1,009 m²
Volume, LiDAR
7,463 m³
Parcel 11453I0384/00A002, Flanders · tallest building 11.3 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Kapellei 157, 2980 Zoersel
since 19732.008.660.459
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11453I0384/00A002 | Flanders | 7,818 m² | 1 · 1,009 m² | 11.3 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.
Structure & network
Owners and holdings
1 owner · 7 holdings · 7 subsidiaries in the treeChain of control
- HOLDING VAN PELT
- Imvap
Highest known parent: HOLDING VAN PELT. The sources do not say who stands above it.
Owners 1
- HOLDING VAN PELTparent100%
Holdings 7
-
100%
-
100%
-
100%
-
100%
-
100%
-
99.95%
-
0.33%
All subsidiaries, including indirect ones 7
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- BETONFABRIEK PAESEN 100%
- Bouwmaterialen Van Pelt 100%
PAESEN BOUWEXPO 100%1 subsidiary
- PAESEN TRANSPORT 99.67%
- SBM+ 100%
- VAPTRANS 100%
- TEGELBEDRIJF FRANS GRIGORIEFF 99.95%
According to the 2025 annual accounts of Imvap and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded29-01-1973
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68204Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0412968293
Registered
26-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.