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IMZ

Active
Public limited companyfounded 199135 yrs activeChaussée de Tervuren 389, 1410 Waterloo, BelgiumKBO/BCE: BE 0444.236.838
Summary

IMZ has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.5m and a net result of €161,719. Equity remains stable across the filed fiscal years (±2.1% per year). The computed 12-month bankruptcy probability is 0.5% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability73=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €350,000 at 30 days acceptable
Liquidity ample (current ratio 8.2 against 13.02 in 2024; short-term debt: 2.4% and cash: 2.8% of total assets), and 4% of the assets are financed with debt.
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 35 years 0 40 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
96%
Return on assets
3.5%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Filed after the deadline
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. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
31 d late
2024
41 d late
2023
61 d late
2022
87 d late
2021
54 d early
2020
80 d late
2019
30 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 31 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 10 September (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 22 May 1991, IMZ was incorporated.1 Total assets went from EUR 3.9 million in 2018 to EUR 4.7 million in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€218,696
EBIT margin
27.7%
Net result
€161,719▲ 15.2%
2024 · €140,331
Working capital
€811,109▲ 35.3%
2024 · €599,648
Trend over the years
In euros
In euros
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.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover
Operating result€29,066▼ 52.0%€2,611▼ 91.0%-€8,365€25,565€77,680▲ 204%
Net result€51,121▲ 15.6%€96,865▲ 89.5%€99,781▲ 3.0%€140,331▲ 40.6%€161,719▲ 15.2%
EBIT margin
Equity€4.0m▲ 1.3%€4.1m▲ 2.4%€4.2m▲ 2.4%€4.3m▲ 3.3%€4.5m▲ 3.7%
Total assets€4.0m▼ 0.4%€4.3m▲ 7.8%€4.4m▲ 1.8%€4.4m▼ 0.6%€4.7m▲ 6.8%
Debt€23,436▼ 74.0%€239,620▲ 922%€217,165▼ 9.4%€49,884▼ 77.0%€185,611▲ 272%
Working capital€219,022▼ 87.3%€422,632▲ 93.0%€533,810▲ 26.3%€599,648▲ 12.3%€811,109▲ 35.3%
Result per fiscal year
Operating resultNet result
-€50,000€0€50,000€100,000€150,000Operating result 2021: €29,066€29,066Net result 2021: €51,121€51,121Operating result 2022: €2,611€2,611Net result 2022: €96,865€96,865Operating result 2023: -€8,365-€8,365Net result 2023: €99,781€99,781Operating result 2024: €25,565€25,565Net result 2024: €140,331€140,331Operating result 2025: €77,680€77,680Net result 2025: €161,719€161,71920212022202320242025-€50,000€0€50,000€100,000€150,000Operating result 2023: -€8,365-€8,370Net result 2023: €99,781€99,800Operating result 2024: €25,565€25,600Net result 2024: €140,331€140,000Operating result 2025: €77,680€77,700Net result 2025: €161,719€162,000202320242025
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 204% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.7m
Fixed assets €3.8m ▲ 0.6%
Current assets €923,729 ▲ 42.2%
Equity and liabilities €4.7m
Equity €4.5m ▲ 3.7%
Debt €185,611 ▲ 272%
Debt's share of the balance-sheet total rises from 1.1% to 4.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€246,618▲
2024 · €190,579
Cash flow
€330,657▲
2024 · €305,345
Current ratio
8.20▼
2024 · 13.02
Debt to equity
0.04▲
2024 · 0.01
ROE
3.6%▲
2024 · 3.2%
ROA
3.5%▲
2024 · 3.2%
Interest coverage
517.62▲
2024 · 298.75
Debt ≤ 1 year
€112,621▲
2024 · €49,884
Debt > 1 year
€72,990
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.5% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 14,732 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines
Balance sheet Code20242025
Assets
Total assets20/58€4.4m€4.7m▲
Fixed assets21/28€3.7m€3.8m▲
Tangible fixed assets22/27€1.8m€1.7m▼
Land and buildings22€1.7m€1.5m▼
Plant, machinery and equipment23€114,974€212,009▲
Financial fixed assets28€1.9m€2.0m▲
Current assets29/58€649,531€923,729▲
Amounts receivable within one year40/41€472,043€731,398▲
Trade receivables40€31,543€65,898▲
Other amounts receivable41€440,500€665,500▲
Cash at bank and in hand54/58€98,876€129,441▲
Deferred charges and accrued income490/1€78,612€62,890▼
Equity and liabilities
Total equity and liabilities10/49€4.4m€4.7m▲
Equity10/15€4.3m€4.5m▲
Contributions10/11€5.4m€5.4m=
Capital10€5.4m€5.4m=
Issued capital100€5.4m€5.4m=
Reserves13€12,701€12,701=
Non-distributable reserves130/1€12,701€12,701=
Legal reserve130€333€333=
Reserves not available under the articles1311€12,368€12,368=
Profit (loss) carried forward14-€1.0m-€868,285▲
Amounts payable17/49€49,884€185,611▲
Amounts payable after more than one year17-€72,990
Other amounts payable178/9-€72,990
Amounts payable within one year42/48€49,884€112,621▲
Trade debts44€49,884€112,621▲
Suppliers440/4€49,884€112,621▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€165,014€168,938▲
Other operating charges640/8€136,635€139,313▲
Gross operating margin9900€327,213€385,931▲
Operating profit (loss)9901€25,565€77,680▲
Financial income75/76B€115,404€84,515▼
Recurring financial income75€115,404€84,515▼
Financial charges65/66B€638€476▼
Recurring financial charges65€638€476▼
Profit (loss) for the period before taxes9903€140,331€161,719▲
Profit (loss) for the period9904€140,331€161,719▲
Profit (loss) for the period to be appropriated9905€140,331€161,719▲
Appropriation of the result
Profit (loss) to be appropriated9906-€1.0m-€868,285▲
Profit (loss) brought forward from the previous period14P-€1.2m-€1.0m▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€156,148€157,945€159,638€165,014€168,938▲ 2.4%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€34,931---
Other operating charges640/8€115,154€247,128€132,912€136,635€139,313▲ 2.0%
Non-recurring operating charges66A--€10,458---
Gross operating margin9900€300,368€407,684€329,574€327,213€385,931▲ 17.9%
Operating profit (loss)9901€29,066€2,611-€8,365€25,565€77,680▲ 204%
Financial income75/76B€29,174€72,432€108,533€115,404€84,515▼ 26.8%
Recurring financial income75€29,174€72,432€108,533€115,404€84,515▼ 26.8%
Financial charges65/66B€435€955€387€638€476▼ 25.3%
Recurring financial charges65€435€955€387€638€476▼ 25.3%
Profit (loss) for the period before taxes9903€57,804€74,088€99,781€140,331€161,719▲ 15.2%
Income taxes67/77€6,683-€22,777----
Profit (loss) for the period9904€51,121€96,865€99,781€140,331€161,719▲ 15.2%
Profit (loss) for the period to be appropriated9905€51,121€96,865€99,781€140,331€161,719▲ 15.2%
Line20212022202320242025Change
Assets
Total assets20/58€4.0m€4.3m€4.4m€4.4m€4.7m▲ 6.8%
Fixed assets21/28€3.8m€3.8m€3.7m€3.7m€3.8m▲ 0.6%
Tangible fixed assets22/27€2.1m€2.0m€1.9m€1.8m€1.7m▼ 3.4%
Land and buildings22€2.1m€2.0m€1.8m€1.7m€1.5m▼ 9.4%
Plant, machinery and equipment23--€80,860€114,974€212,009▲ 84.4%
Assets under construction and advance payments27€37,983€34,485----
Financial fixed assets28€1.6m€1.7m€1.8m€1.9m€2.0m▲ 4.4%
Current assets29/58€242,459€586,978€667,699€649,531€923,729▲ 42.2%
Amounts receivable within one year40/41€21,062€195,152€568,160€472,043€731,398▲ 54.9%
Trade receivables40€10,457€160,221€113,160€31,543€65,898▲ 109%
Other amounts receivable41€10,605€34,931€455,000€440,500€665,500▲ 51.1%
Cash at bank and in hand54/58€85,618€264,270€5,205€98,876€129,441▲ 30.9%
Deferred charges and accrued income490/1€135,778€127,556€94,334€78,612€62,890▼ 20.0%
Equity and liabilities
Total equity and liabilities10/49€4.0m€4.3m€4.4m€4.4m€4.7m▲ 6.8%
Equity10/15€4.0m€4.1m€4.2m€4.3m€4.5m▲ 3.7%
Contributions10/11€5.4m€5.4m€5.4m€5.4m€5.4m=
Capital10€5.4m€5.4m€5.4m€5.4m€5.4m=
Issued capital100€5.4m€5.4m€5.4m€5.4m€5.4m=
Reserves13€12,701€12,701€12,701€12,701€12,701=
Non-distributable reserves130/1€12,701€12,701€12,701€12,701€12,701=
Legal reserve130€333€333€333€333€333=
Reserves not available under the articles1311€12,368€12,368€12,368€12,368€12,368=
Profit (loss) carried forward14-€1.4m-€1.3m-€1.2m-€1.0m-€868,285▲ 15.7%
Amounts payable17/49€23,436€239,620€217,165€49,884€185,611▲ 272%
Amounts payable after more than one year17----€72,990-
Other amounts payable178/9----€72,990-
Amounts payable within one year42/48€23,436€164,346€133,889€49,884€112,621▲ 126%
Trade debts44€659€88,170€133,889€49,884€112,621▲ 126%
Suppliers440/4€659€88,170€133,889€49,884€112,621▲ 126%
Taxes, remuneration and social security45€22,777€76,176----
Taxes450/3€22,777€76,176----
Other amounts payable47/48€0-----
Accrued charges and deferred income492/3€0€75,274€83,276---
Line20212022202320242025Change
Profit (loss) for the period9904€51,121€96,865€99,781€140,331€161,719▲ 15.2%
+ Depreciation and write-downs630€156,148€157,945€159,638€165,014€168,938▲ 2.4%
Operating cash flow (approximation)€207,269€254,810€259,419€305,345€330,657▲ 8.3%
Investment in fixed assets (approximation)--€126,474-€156,243-€156,231-€192,186▼ 23.0%
Change in cash-€178,652-€259,065€93,671€30,565▼ 67.4%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-08
NBB filing Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
10-09
NBB filing Annual accounts filed
fiscal year 2024 · full schema · 41 days late
2024
31-12
Financial Liquidity triplescurrent ratio 13.02
Current ratio from 4.99 to 13.02; short-term debt falls from €133,889 to €49,884.
30-09
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
26-10
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 87 days late
2022
07-06
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-10
NBB filing Annual accounts filed
fiscal year 2020 · full schema · 80 days late
2020
31-12
Financial Back to profitnet €44,211
Net result €44,211 after one loss-making year.
01-07
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial Weakest financial yearnet -€16,467
Net result drops to -€16,467, the lowest in the series; recovery starts the following year.
19-03
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-04
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 19 acts read
About the unread acts

We know of 19 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
No directors read yet: 0 of 19 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2000
seat establishment The establishment unit on the map
Ground area
7,946 m²
Building footprint
869 m²
Volume, LiDAR
10,040 m³
2 parcels, Flanders, Wallonia · tallest building 20.8 m, ±5 floors. Linked by address, not a title deed.
54 companies at this address See who is registered here
1 establishment unit
Hessenplein 11, 2000 Antwerpen
NACE 70201
since 20002.054.882.543
2 parcels
Flanders 1 (50%) Wallonia 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
25763I0362/00B000 Wallonia 7,205 m² 1 · 347 m² 10.5 m · 2 fl.
11802B0185/00D004 Flanders 741 m² 1 · 521 m² 20.8 m · 5 fl.
Linked by address, not proof of ownership
Good to know
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

Part of the group MATHIMMO 31 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. MATHIMMO 100%
  2. Le Repos 100%
  3. PORCELYNEGOED 100%
  4. IMZ

Highest known parent: MATHIMMO. The sources do not say who stands above it.

Owners 1

Holdings 0

The accounts to 31-12-2025 list no holdings, and no other source names one.

According to the 2025 annual accounts of IMZ 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.

Company details

Identification
Legal formPublic limited company
Founded22-05-1991
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID 0208:0444236838
Also 9925:BE0444236838
Registered 05-12-2025

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.