INDIMMO DEVELOPMENT
ActiveSummary
INDIMMO DEVELOPMENT has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.0m and a net result of €529,513. Equity is growing by ~28.3% per year across the filed fiscal years. Its solvency ranks better than 67% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-12
Solvency85▲+15
Growth78=
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity tight (current ratio 1.4 against 2.45 in 2024; short-term debt: 25.3% and cash: 20.6% of total assets), and 40.2% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
59.8%
Return on assets
15.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 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 · 4 filingsDeviation from the deadline
2025
25 d late
2024
31 d early
2023
23 d late
2022
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 11 days after 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. Usually files around 25 August (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€529,513▼ 45.7%
2024 · €975,341
Working capital
€345,472▼ 55.2%
2024 · €771,556
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
Line2022202320242025
Operating result€345,075-€629,934▲ 82.5%€598,540▼ 5.0%€711,864▲ 18.9%
Net result€256,906above the sector's middle half-€435,370above the sector's middle half▲ 69.5%€975,341above the sector's middle half▲ 124%€529,513above the sector's middle half▼ 45.7%
Equity€1.1mwithin the sector's middle half-€1.1mwithin the sector's middle half▼ 3.5%€1.5mwithin the sector's middle half▲ 39.1%€2.0mwithin the sector's middle half▲ 35.0%
Total assets€2.9mwithin the sector's middle half-€3.2mwithin the sector's middle half▲ 10.6%€3.4mwithin the sector's middle half▲ 4.6%€3.4mwithin the sector's middle half▲ 1.3%
Debt€1.7m-€2.0m▲ 19.2%€1.7m▼ 13.7%€1.2m▼ 28.1%
Working capital€275,259within the sector's middle half-€694,088within the sector's middle half▲ 152%€771,556within the sector's middle half▲ 11.2%€345,472within the sector's middle half▼ 55.2%
Solvency38.7%within the sector's middle half-33.8%within the sector's middle half▼ 4.9pp44.9%within the sector's middle half▲ 11.1pp59.8%within the sector's middle half▲ 14.9pp
Current ratio1.78within the sector's middle half-3.27above the sector's middle half▲ 1.492.45within the sector's middle half▼ 0.821.40within the sector's middle half▼ 1.05
Return on assets (ROA)8.8%above the sector's middle half-13.5%above the sector's middle half▲ 4.7pp29.0%above the sector's middle half▲ 15.4pp15.5%above the sector's middle half▼ 13.4pp
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 19% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.4m
Fixed assets
€2.2m ▲ 6.7%
Current assets
€1.2m ▼ 7.2%
Equity and liabilities €3.4m
Equity
€2.0m ▲ 35.0%
Provisions
€148,701 ▼ 4.1%
Debt
€1.2m ▼ 28.1%
Debt's share of the balance-sheet total falls from 50.5% to 35.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€859,479▲
2024 · €751,691
Cash flow
€677,128▼
2024 · €1.1m
Debt to equity
0.60▼
2024 · 1.12
ROE
25.9%▼
2024 · 64.5%
Interest coverage
263.74▲
2024 · 15.77
Debt ≤ 1 year
€863,331▲
2024 · €530,392
Debt > 1 year
€238,085▼
2024 · €996,107
Income taxes
€187,541▼
2024 · €333,338
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,126 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
1.9%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,338 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% | 1.9% |
| 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 3,126 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €163,529 | €63,143 | €153,151 | €147,616 | ▼ 3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €54,612 | -€32,004 | €506,762 | -€185,377 | ▼ 137% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €80,000 | -€80,000 | - | - | - |
| Other operating charges640/8 | €140,578 | €151,625 | €146,746 | €178,996 | ▲ 22.0% |
| Gross operating margin9900 | €783,794 | €732,698 | €1.4m | €853,098 | ▼ 39.3% |
| Operating profit (loss)9901 | €345,075 | €629,934 | €598,540 | €711,864 | ▲ 18.9% |
| Financial income75/76B | €844 | €0 | €751,431 | €2,075 | ▼ 99.7% |
| Recurring financial income75 | €844 | €0 | €1,794 | €2,075 | ▲ 15.7% |
| Non-recurring financial income76B | - | - | €749,637 | - | - |
| Financial charges65/66B | €3,377 | €50,161 | €47,668 | €3,259 | ▼ 93.2% |
| Recurring financial charges65 | €3,377 | €50,161 | €47,668 | €3,259 | ▼ 93.2% |
| Profit (loss) for the period before taxes9903 | €342,542 | €579,773 | €1.3m | €710,680 | ▼ 45.4% |
| Transfer from deferred taxes780 | €4,609 | €5,329 | €6,376 | €6,373 | = |
| Income taxes67/77 | €90,245 | €149,732 | €333,338 | €187,541 | ▼ 43.7% |
| Profit (loss) for the period9904 | €256,906 | €435,370 | €975,341 | €529,513 | ▼ 45.7% |
| Transfer from tax-exempt reserves789 | €13,828 | €13,827 | €19,127 | €19,119 | = |
| Transfer to tax-exempt reserves689 | - | - | €471,520 | - | - |
| Profit (loss) for the period to be appropriated9905 | €270,734 | €449,197 | €522,948 | €548,632 | ▲ 4.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.9m | €3.2m | €3.4m | €3.4m | ▲ 1.3% |
| Fixed assets21/28 | €2.3m | €2.2m | €2.1m | €2.2m | ▲ 6.7% |
| Tangible fixed assets22/27 | €2.3m | €2.2m | €2.1m | €2.2m | ▲ 6.7% |
| Land and buildings22 | €2.3m | €2.2m | €2.1m | €1.9m | ▼ 7.1% |
| Plant, machinery and equipment23 | - | - | - | €0 | - |
| Assets under construction and advance payments27 | - | - | - | €285,267 | - |
| Current assets29/58 | €629,463 | €999,894 | €1.3m | €1.2m | ▼ 7.2% |
| Amounts receivable after more than one year29 | €228,006 | €233,331 | €231,351 | €226,175 | ▼ 2.2% |
| Other amounts receivable291 | €228,006 | €233,331 | €231,351 | €226,175 | ▼ 2.2% |
| Amounts receivable within one year40/41 | €272,362 | €233,928 | €546,478 | €273,529 | ▼ 49.9% |
| Trade receivables40 | €132,527 | €118,905 | €145,088 | €188,871 | ▲ 30.2% |
| Other amounts receivable41 | €139,835 | €115,023 | €401,391 | €84,658 | ▼ 78.9% |
| Cash at bank and in hand54/58 | €123,982 | €519,489 | €517,373 | €703,424 | ▲ 36.0% |
| Deferred charges and accrued income490/1 | €5,113 | €13,146 | €6,746 | €5,675 | ▼ 15.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.9m | €3.2m | €3.4m | €3.4m | ▲ 1.3% |
| Equity10/15 | €1.1m | €1.1m | €1.5m | €2.0m | ▲ 35.0% |
| Contributions10/11 | €257,122 | €257,122 | €257,122 | €257,122 | = |
| Capital10 | €257,122 | €257,122 | €257,122 | €257,122 | = |
| Issued capital100 | €257,122 | €257,122 | €257,122 | €257,122 | = |
| Reserves13 | €866,469 | €737,810 | €1.2m | €1.2m | ▼ 1.6% |
| Non-distributable reserves130/1 | €25,712 | €25,712 | €25,712 | €25,712 | = |
| Legal reserve130 | €25,712 | €25,712 | €25,712 | €25,712 | = |
| Tax-exempt reserves132 | €155,843 | €486,508 | €938,901 | €919,782 | ▼ 2.0% |
| Distributable reserves133 | €684,914 | €225,590 | €225,591 | €225,591 | = |
| Profit (loss) carried forward14 | €2,686 | €91,883 | €64,832 | €613,464 | ▲ 846% |
| Provisions and deferred taxes16 | €131,948 | €161,449 | €155,074 | €148,701 | ▼ 4.1% |
| Provisions for liabilities and charges160/5 | €80,000 | - | - | - | - |
| Other liabilities and charges164/5 | €80,000 | - | - | - | - |
| Deferred taxes168 | €51,948 | €161,449 | €155,074 | €148,701 | ▼ 4.1% |
| Amounts payable17/49 | €1.7m | €2.0m | €1.7m | €1.2m | ▼ 28.1% |
| Amounts payable after more than one year17 | €1.2m | €1.5m | €996,107 | €238,085 | ▼ 76.1% |
| Other amounts payable178/9 | €1.2m | €1.5m | €996,107 | €238,085 | ▼ 76.1% |
| Amounts payable within one year42/48 | €354,204 | €305,806 | €530,392 | €863,331 | ▲ 62.8% |
| Trade debts44 | €62,570 | €59,325 | €88,563 | €481,849 | ▲ 444% |
| Suppliers440/4 | €62,570 | €59,325 | €88,563 | €481,849 | ▲ 444% |
| Advances received on contracts in progress46 | €13,043 | €5,843 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €21,338 | €81,562 | ▲ 282% |
| Taxes450/3 | - | - | €21,338 | €81,562 | ▲ 282% |
| Other amounts payable47/48 | €278,591 | €240,638 | €420,491 | €299,920 | ▼ 28.7% |
| Accrued charges and deferred income492/3 | €119,264 | €176,459 | €174,070 | €120,558 | ▼ 30.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €256,906 | €435,370 | €975,341 | €529,513 | ▼ 45.7% |
| + Depreciation and write-downs630 | €163,529 | €63,143 | €153,151 | €147,616 | ▼ 3.6% |
| Operating cash flow (approximation) | €420,435 | €498,513 | €1.1m | €677,128 | ▼ 40.0% |
| Investment in fixed assets (approximation) | - | €0 | -€0 | -€285,306 | ▼ 98,381,210% |
| Change in cash | - | €395,507 | -€2,116 | €186,051 | ▲ 8,891% |
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
17-09
State Gazette act
Resignation: Michel Scholasse (director)Permanent representative: Thomas DRAGUET · Director discharge · Power of attorney5 facts ▸
State Gazette act
Resignation: Michel Scholasse (director)
Permanent representative: Thomas DRAGUET · Director discharge · Power of attorney5 facts ▸
- General meeting, 07-05-2026
- Director resignation, Michel Scholasse (director)
- Director discharge, Michel Scholasse
- Power of attorney, ANTICIPER
- Permanent representative, Thomas DRAGUET (director)
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
31-12
Financial
Equity above €2mEq €2.0m ▲35%
4 profitable years in a row build equity to €2.0m.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2022net €975,341 ▲124%
Net result €975,341, the highest in the series.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 23 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2022
Ground area
3,724 m²
Building footprint
1,306 m²
Volume, LiDAR
98,133 m³
Parcel 21009A0769/00S002, Brussels · tallest building 99.0 m, ±27 floors. Linked by address, not a title deed.
406
companies at this address
See who is registered here
1 establishment unit
INDIMMO DEVELOPMENT
since 20222.335.044.178
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0769/00S002 | Brussels | 3,724 m² | 1 · 1,306 m² | 99.0 m · 27 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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| SCHOLASSE Michel |
|
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 3,619 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
Founded30-06-2022
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
Contact
E-mail
desk@indimmo.eu
Phone
02/550.34.18
E-invoicing
Reachable via Peppol
Peppol ID
0208:0787858051
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.