INESU-IMMO
ActiveSummary
INESU-IMMO has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.7m and a net result of €368,434. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 70% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+2
Solvency90▲+1
Growth54=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €380,000 at 30 days acceptable
Liquidity ample (current ratio 2.43 against 2.25 in 2024; short-term debt: 26% and cash: 12.9% of total assets), and 35.3% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
64.7%
Return on assets
5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
8 d late
2023
5 d late
2022
11 d late
2021
2 d early
2020
4 d early
2019
62 d late
← 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 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#3 oldest company in Ottignies-Louvain-la-Neuve, Real estate sector#10 company by equity in Ottignies-Louvain-la-Neuve, Real estate sector
Turnover
€3.1m▲ 7.4%
2021 · €2.8m
EBIT margin
7.6%▼ 1.2pp
2021 · 8.8%
Net result
€368,434▲ 55.3%
2024 · €237,269
Working capital
€2.7m▲ 28.5%
2024 · €2.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2.8m▼ 1.0%€3.1m▲ 7.4%
Operating result€250,850€233,172▼ 7.0%€141,752▼ 39.2%€309,036▲ 118%€511,161▲ 65.4%
Net result€210,674€158,104▼ 25.0%-€41,812€237,269€368,434▲ 55.3%
EBIT margin8.8%▲ 15.0pp7.6%▼ 1.2pp
Equity€4.0m▲ 5.6%€4.2m▲ 5.0%€4.1m▼ 1.0%€4.4m▲ 5.8%€4.7m▲ 8.5%
Total assets€6.8m▼ 4.0%€6.7m▼ 1.5%€7.2m▲ 7.5%€6.8m▼ 5.1%€7.3m▲ 6.8%
Debt€2.5m▼ 14.8%€2.3m▼ 10.2%€2.8m▲ 22.8%€2.2m▼ 20.5%€2.3m▲ 1.8%
Working capital€1.7m▲ 3.5%€2.0m▲ 12.8%€1.8m▼ 10.5%€2.1m▲ 19.7%€2.7m▲ 28.5%
Staff (FTE)7.6▲ 5.6%8.5▲ 11.8%9.4▲ 10.6%10.5▲ 11.7%11.5▲ 9.5%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 65% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.3m
Fixed assets
€2.7m ▼ 11.4%
Current assets
€4.6m ▲ 21.6%
Equity and liabilities €7.3m
Equity
€4.7m ▲ 8.5%
Provisions
€325,718 ▲ 22.6%
Debt
€2.3m ▲ 1.8%
Debt's share of the balance-sheet total falls from 32.4% to 30.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.0m▲
2024 · €855,273
Cash flow
€901,031▲
2024 · €783,506
Current ratio
2.43▲
2024 · 2.25
Debt to equity
0.48▼
2024 · 0.51
ROE
7.8%▲
2024 · 5.4%
ROA
5.0%▲
2024 · 3.5%
Interest coverage
37.03▲
2024 · 22.80
Debt ≤ 1 year
€1.9m▲
2024 · €1.7m
Debt > 1 year
€315,131▼
2024 · €510,544
Income taxes
€153,250▲
2024 · €80,806
Staff costs
€1.1m▲
2024 · €994,801
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €2.8m | €3.1m | - | - | - | - |
| Non-recurring operating income76A | - | €31 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €1.3m | €1.3m | - | - | - | - |
| Remuneration, social security and pensions62 | €619,839 | €724,150 | €891,299 | €994,801 | €1.1m | ▲ 8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €473,111 | €496,758 | €508,892 | €546,237 | €532,597 | ▼ 2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€62,686 | €27,316 | -€51,638 | -€2,510 | €10,486 | ▲ 518% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€34,467 | €8,473 | €37,221 | -€18,343 | €72,419 | ▲ 495% |
| Other operating charges640/8 | €313,414 | €301,218 | €492,972 | €357,511 | €412,448 | ▲ 15.4% |
| Gross operating margin9900 | €1.6m | €1.8m | €2.0m | €2.2m | €2.6m | ▲ 19.6% |
| Operating profit (loss)9901 | €250,850 | €233,172 | €141,752 | €309,036 | €511,161 | ▲ 65.4% |
| Financial income75/76B | €1,810 | €3,837 | €33,276 | €34,184 | €26,333 | ▼ 23.0% |
| Recurring financial income75 | €1,810 | €3,837 | €33,276 | €34,184 | €26,333 | ▼ 23.0% |
| Financial charges65/66B | €58,412 | €51,177 | €44,919 | €37,519 | €28,184 | ▼ 24.9% |
| Recurring financial charges65 | €58,412 | €51,177 | €44,919 | €37,519 | €28,184 | ▼ 24.9% |
| Profit (loss) for the period before taxes9903 | €194,248 | €185,832 | €130,109 | €305,701 | €509,310 | ▲ 66.6% |
| Transfer from deferred taxes780 | €16,823 | €12,374 | €12,374 | €12,374 | €12,374 | = |
| Income taxes67/77 | €397 | €40,102 | €184,295 | €80,806 | €153,250 | ▲ 89.7% |
| Profit (loss) for the period9904 | €210,674 | €158,104 | -€41,812 | €237,269 | €368,434 | ▲ 55.3% |
| Transfer from tax-exempt reserves789 | €32,671 | €37,122 | €108,322 | €37,121 | €37,121 | = |
| Profit (loss) for the period to be appropriated9905 | €243,345 | €195,226 | €66,510 | €274,390 | €405,555 | ▲ 47.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.8m | €6.7m | €7.2m | €6.8m | €7.3m | ▲ 6.8% |
| Fixed assets21/28 | €3.6m | €3.4m | €3.4m | €3.1m | €2.7m | ▼ 11.4% |
| Intangible fixed assets21 | €7,332 | €38,747 | €67,168 | €83,240 | €99,025 | ▲ 19.0% |
| Tangible fixed assets22/27 | €3.5m | €3.2m | €3.2m | €2.8m | €2.5m | ▼ 13.2% |
| Land and buildings22 | €2.3m | €2.1m | €2.9m | €2.5m | €2.1m | ▼ 14.3% |
| Plant, machinery and equipment23 | €683 | €341 | €5,850 | €5,109 | €4,368 | ▼ 14.5% |
| Furniture and vehicles24 | €6,128 | €1,450 | €10,744 | €19,555 | €17,219 | ▼ 11.9% |
| Other tangible fixed assets26 | €1.2m | €1.2m | €39,987 | €284,317 | €264,137 | ▼ 7.1% |
| Assets under construction and advance payments27 | - | €20,905 | €265,048 | €24,558 | €30,920 | ▲ 25.9% |
| Financial fixed assets28 | €82,079 | €93,193 | €142,764 | €143,643 | €151,712 | ▲ 5.6% |
| Current assets29/58 | €3.2m | €3.3m | €3.8m | €3.8m | €4.6m | ▲ 21.6% |
| Stocks and contracts in progress3 | €69,338 | €0 | - | - | - | - |
| Stocks30/36 | €69,338 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €913,150 | €885,966 | €1.4m | €1.1m | €1.6m | ▲ 51.3% |
| Trade receivables40 | €580,751 | €584,715 | €609,482 | €669,334 | €1.1m | ▲ 59.6% |
| Other amounts receivable41 | €332,399 | €301,251 | €744,911 | €382,094 | €523,050 | ▲ 36.9% |
| Current investments50/53 | €1.2m | €1.2m | €1.4m | €1.5m | €1.9m | ▲ 25.1% |
| Cash at bank and in hand54/58 | €929,464 | €1.2m | €945,671 | €1.1m | €939,216 | ▼ 11.9% |
| Deferred charges and accrued income490/1 | €65,442 | €88,568 | €99,080 | €123,637 | €140,375 | ▲ 13.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.8m | €6.7m | €7.2m | €6.8m | €7.3m | ▲ 6.8% |
| Equity10/15 | €4.0m | €4.2m | €4.1m | €4.4m | €4.7m | ▲ 8.5% |
| Contributions10/11 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Capital10 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Issued capital100 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Reserves13 | €1.8m | €2.2m | €3.9m | €3.9m | €3.8m | ▼ 1.0% |
| Non-distributable reserves130/1 | €611,408 | €611,408 | €3.6m | €3.6m | €3.6m | = |
| Legal reserve130 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Other1319 | €596,408 | €596,408 | €3.6m | €3.6m | €3.6m | = |
| Tax-exempt reserves132 | €365,246 | €368,171 | €259,849 | €222,728 | €185,607 | ▼ 16.7% |
| Distributable reserves133 | €796,126 | €1.2m | €0 | - | - | - |
| Profit (loss) carried forward14 | €2.0m | €1.9m | €66,510 | €340,900 | €746,455 | ▲ 119% |
| Provisions and deferred taxes16 | €315,490 | €271,542 | €296,389 | €265,672 | €325,718 | ▲ 22.6% |
| Provisions for liabilities and charges160/5 | €164,079 | €172,552 | €209,773 | €191,430 | €263,849 | ▲ 37.8% |
| Major repairs and maintenance162 | €164,079 | €172,552 | €209,773 | €191,430 | €263,849 | ▲ 37.8% |
| Deferred taxes168 | €151,411 | €98,990 | €86,616 | €74,242 | €61,869 | ▼ 16.7% |
| Amounts payable17/49 | €2.5m | €2.3m | €2.8m | €2.2m | €2.3m | ▲ 1.8% |
| Amounts payable after more than one year17 | €1.0m | €875,899 | €697,369 | €510,544 | €315,131 | ▼ 38.3% |
| Financial debts170/4 | €1.0m | €875,899 | €697,369 | €510,544 | €315,131 | ▼ 38.3% |
| Amounts payable within one year42/48 | €1.5m | €1.4m | €2.1m | €1.7m | €1.9m | ▲ 12.9% |
| Current portion of amounts payable after more than one year42 | €163,264 | €170,753 | €178,530 | €186,824 | €195,413 | ▲ 4.6% |
| Trade debts44 | €802,393 | €851,105 | €1.1m | €999,904 | €1.1m | ▲ 9.2% |
| Suppliers440/4 | €802,393 | €851,105 | €1.1m | €999,904 | €1.1m | ▲ 9.2% |
| Taxes, remuneration and social security45 | €127,019 | €120,532 | €363,883 | €157,612 | €165,900 | ▲ 5.3% |
| Taxes450/3 | €32,464 | €18,978 | €223,870 | €23,423 | €42,988 | ▲ 83.5% |
| Remuneration and social security454/9 | €94,555 | €101,554 | €140,013 | €134,189 | €122,912 | ▼ 8.4% |
| Other amounts payable47/48 | €362,937 | €226,386 | €407,205 | €334,479 | €442,551 | ▲ 32.3% |
| Accrued charges and deferred income492/3 | €22,166 | €22,949 | €28,821 | €24,132 | €41,477 | ▲ 71.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €210,674 | €158,104 | -€41,812 | €237,269 | €368,434 | ▲ 55.3% |
| + Depreciation and write-downs630 | €473,111 | €496,758 | €508,892 | €546,237 | €532,597 | ▼ 2.5% |
| Operating cash flow (approximation) | €683,785 | €654,862 | €467,080 | €783,506 | €901,031 | ▲ 15.0% |
| Investment in fixed assets (approximation) | - | -€258,317 | -€525,772 | -€215,266 | -€183,691 | ▲ 14.7% |
| Change in cash | - | €259,121 | -€242,914 | €120,364 | -€126,819 | ▼ 205% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
15-10
State Gazette act
General meeting · Director resignation
Director appointment
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 8 days late
2024
31-12
Financial
Back to profitnet €237,269
Net result €237,269 after one loss-making year.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 5 days late
2023
11-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 11 days late
2022
20-09
State Gazette act
General meeting · Director resignation
Director appointment
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €210,674
Net result €210,674 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€226,409
Net result drops to -€226,409, the lowest in the series; recovery starts the following year.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 62 days late
Show earlier events
2019
31-12
Financial
Highest result since 2018net €488,119 ▲27.1%
Operating result €870,420, net result €488,119, both a record.
01-08
State Gazette act
General meeting · Director appointment
Mandate compensation · Board composition
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
18-07
State Gazette act
General meeting · Director appointment
Mandate compensation · Board composition
10-07
State Gazette act
General meeting · Director resignation
Director appointment
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
01-08
State Gazette act
General meeting · Director appointment
Mandate compensation · Board composition
17-06
State Gazette act
General meeting · Director resignation
Director appointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Ottignies-Louvain-la-Neuve · 3 establishment units since 2007
Ground area
9,317 m²
Building footprint
3,132 m²
Volume, LiDAR
22,607 m³
3 parcels, Brussels, Wallonia · tallest building 26.0 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
3 establishment units
INESU-IMMO
since 20072.213.151.802
INESU-IMMO
since 20082.170.236.230
INESU-IMMO "LE SAXO"
since 20082.235.811.396
3 parcels
Wallonia
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25386B0079/00D003 | Wallonia | 5,694 m² | 1 · 862 m² | 13.2 m · 4 fl. |
| 25386B0114/00Y000 | Wallonia | 2,249 m² | 1 · 1,296 m² | - |
| 21018B0094/00V005 | Brussels | 1,374 m² | 1 · 974 m² | 26.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Connections & network
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Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 2,730 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
Founded19-02-1972
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
info-inesu@uclouvain.beSint-Lambrechts-Woluwe
Phone
02/7744165Sint-Lambrechts-Woluwe
Phone
010/478043Ottignies-Louvain-la-Neuve
Scores and ratios are computed by Checked and are not a credit decision.