IMWO
ActiveSummary
The computed 12-month bankruptcy probability of IMWO is 1.7% (moderate). The 2025 annual accounts show negative equity (-€3,608) and a net result of -€5,706. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 7% of 28374 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency9▼-23
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.42 against 0.97 in 2024; short-term debt: 116% and cash: 14.1% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-16%
Return on assets
-25.3%
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 -€3,608
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 · 9 filingsDeviation from the deadline
2025
17 d late
2024
38 d early
2023
58 d early
2022
32 d early
2021
18 d early
2020
51 d early
2019
46 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 32 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€3,608
2024 · €2,098
Total assets
€22,575▼ 23.6%
2024 · €29,559
Net result
-€5,706
2024 · €14,830
Working capital
-€15,137▼ 1,786%
2024 · -€803
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€15,663-€18,572▼ 18.6%-€6,786▲ 63.5%€14,910-€4,510
Net result-€15,689below the sector's middle half-€18,697below the sector's middle half▼ 19.2%-€6,841below the sector's middle half▲ 63.4%€14,830within the sector's middle half-€5,706below the sector's middle half
Equity€12,806below the sector's middle half▼ 55.1%-€5,891below the sector's middle half-€12,732below the sector's middle half▼ 116%€2,098below the sector's middle half-€3,608below the sector's middle half
Total assets€39,084below the sector's middle half▼ 29.8%€20,291below the sector's middle half▼ 48.1%€14,607below the sector's middle half▼ 28.0%€29,559below the sector's middle half▲ 102%€22,575below the sector's middle half▼ 23.6%
Debt€26,278▼ 3.3%€26,182▼ 0.4%€27,339▲ 4.4%€27,461▲ 0.4%€26,183▼ 4.7%
Working capital€4,274below the sector's middle half▼ 70.1%-€11,069below the sector's middle half-€16,098below the sector's middle half▼ 45.4%-€803below the sector's middle half▲ 95.0%-€15,137below the sector's middle half▼ 1,786%
Solvency32.8%within the sector's middle half▼ 18.4pp-29.0%below the sector's middle half▼ 61.8pp-87.2%below the sector's middle half▼ 58.1pp7.1%below the sector's middle half▲ 94.3pp-16.0%below the sector's middle half▼ 23.1pp
Current ratio1.16within the sector's middle half▼ 0.360.58below the sector's middle half▼ 0.590.41below the sector's middle half▼ 0.170.97below the sector's middle half▲ 0.560.42below the sector's middle half▼ 0.55
Return on assets (ROA)-40.1%below the sector's middle half▼ 40.6pp-92.1%below the sector's middle half▼ 52.0pp-46.8%below the sector's middle half▲ 45.3pp50.2%above the sector's middle half▲ 97.0pp-25.3%below the sector's middle half▼ 75.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,510 after €14,910 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22,575
Fixed assets
€11,529 ▲ 297%
Current assets
€11,045 ▼ 58.6%
Key figures and ratios
EBITDA
-€257▼
2024 · €15,376
Cash flow
-€1,452▼
2024 · €15,295
Debt to equity
-7.26▼
2024 · 13.09
Interest coverage
-0.20▼
2024 · 189.78
Debt ≤ 1 year
€26,183▼
2024 · €27,461
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,010 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 | - | - | - | - | €16,200 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,647 | €4,870 | €1,811 | €466 | €4,254 | ▲ 813% |
| Other operating charges640/8 | €678 | €744 | €1,091 | €977 | €780 | ▼ 20.1% |
| Gross operating margin9900 | -€9,338 | -€12,958 | -€3,884 | €16,353 | €524 | ▼ 96.8% |
| Operating profit (loss)9901 | -€15,663 | -€18,572 | -€6,786 | €14,910 | -€4,510 | ▼ 130% |
| Financial income75/76B | €18 | €0 | - | €0 | €62 | ▲ 27,959% |
| Recurring financial income75 | €18 | €0 | - | €0 | €62 | ▲ 27,959% |
| Financial charges65/66B | €44 | €126 | €55 | €81 | €1,257 | ▲ 1,452% |
| Recurring financial charges65 | €44 | €126 | €55 | €81 | €1,257 | ▲ 1,452% |
| Profit (loss) for the period before taxes9903 | -€15,689 | -€18,697 | -€6,841 | €14,830 | -€5,706 | ▼ 138% |
| Profit (loss) for the period9904 | -€15,689 | -€18,697 | -€6,841 | €14,830 | -€5,706 | ▼ 138% |
| Profit (loss) for the period to be appropriated9905 | -€15,689 | -€18,697 | -€6,841 | €14,830 | -€5,706 | ▼ 138% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,084 | €20,291 | €14,607 | €29,559 | €22,575 | ▼ 23.6% |
| Fixed assets21/28 | €8,532 | €5,178 | €3,366 | €2,901 | €11,529 | ▲ 297% |
| Tangible fixed assets22/27 | €8,532 | €5,178 | €3,366 | €2,901 | €11,529 | ▲ 297% |
| Plant, machinery and equipment23 | €1,116 | €549 | - | - | - | - |
| Furniture and vehicles24 | €4,680 | €797 | - | - | €9,095 | - |
| Other tangible fixed assets26 | €2,737 | €3,832 | €3,366 | €2,901 | €2,435 | ▼ 16.1% |
| Current assets29/58 | €30,551 | €15,113 | €11,241 | €26,659 | €11,045 | ▼ 58.6% |
| Amounts receivable within one year40/41 | €12,938 | €6,147 | €7,382 | €14,860 | €7,235 | ▼ 51.3% |
| Trade receivables40 | €12,752 | €5,325 | €6,785 | €12,627 | €6,087 | ▼ 51.8% |
| Other amounts receivable41 | €186 | €822 | €597 | €2,234 | €1,148 | ▼ 48.6% |
| Cash at bank and in hand54/58 | €11,591 | €7,313 | €3,859 | €11,647 | €3,175 | ▼ 72.7% |
| Deferred charges and accrued income490/1 | €6,022 | €1,653 | - | €151 | €635 | ▲ 320% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,084 | €20,291 | €14,607 | €29,559 | €22,575 | ▼ 23.6% |
| Equity10/15 | €12,806 | -€5,891 | -€12,732 | €2,098 | -€3,608 | ▼ 272% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €6,606 | €1,860 | - | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €4,746 | - | - | - | - | - |
| Profit (loss) carried forward14 | - | -€13,951 | -€18,932 | -€4,102 | -€9,808 | ▼ 139% |
| Amounts payable17/49 | €26,278 | €26,182 | €27,339 | €27,461 | €26,183 | ▼ 4.7% |
| Amounts payable within one year42/48 | €26,278 | €26,182 | €27,339 | €27,461 | €26,183 | ▼ 4.7% |
| Trade debts44 | - | €32 | €1,347 | €1,586 | €1,586 | = |
| Suppliers440/4 | - | €32 | €1,347 | €1,586 | €1,586 | = |
| Other amounts payable47/48 | €26,278 | €26,150 | €25,992 | €25,875 | €24,597 | ▼ 4.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,689 | -€18,697 | -€6,841 | €14,830 | -€5,706 | ▼ 138% |
| + Depreciation and write-downs630 | €5,647 | €4,870 | €1,811 | €466 | €4,254 | ▲ 813% |
| Operating cash flow (approximation) | -€10,042 | -€13,827 | -€5,029 | €15,295 | -€1,452 | ▼ 109% |
| Investment in fixed assets (approximation) | - | -€1,516 | €0 | €0 | -€12,883 | - |
| Change in cash | - | -€4,278 | -€3,454 | €7,788 | -€8,472 | ▼ 209% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €14,830
Net result €14,830 after 3 loss-making years.
03-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€18,697
Net result drops to -€18,697, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Rumst · 1 establishment unit since 2017
Ground area
1,519 m²
Building footprint
155 m²
Volume, LiDAR
595 m³
Parcel 11037B0377/00E000, Flanders · tallest building 10.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
IMWO
since 20172.262.109.086
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11037B0377/00E000 | Flanders | 1,519 m² | 1 · 155 m² | 10.1 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.
Similar companies · same sector, comparable size
TIMMER EN RESTAURATIEWERKEN DEMOL
BE 1008.835.830
Lo-Reninge · Eq €2,093
Houtconstructie Desmyter
BE 0711.882.703
Roeselare · Eq €2,084
CA INSIDE
BE 0838.862.037
Namur · Eq €2,112
RESPA-RS
BE 0778.998.684
Baelen · Eq €2,115
Menuiserie KLASSEN Laurent
BE 0776.901.011
Theux · Eq €2,119
Of 20,017 companies in sector 43320 we hold annual accounts for 9,139. 1,544 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
16230Manufacture of other builders' carpentry and joinery
43310Plastering work
43341Painting of buildings
43343Specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0671713320
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.