ISIMO
ActiveSummary
ISIMO has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€58,275) and a net result of -€34,812. Equity is shrinking by about 35% per year across the filed financial years. Its solvency ranks better than 10% of 11,191 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
- Equity
- -€58,275
- Loss
- -€34,812
- CLAVIE Olivier, Etienne, GeorgesDirector
Why 53raises riskCapped at 59: negative equityNegative equity -€58,275Loss of €34,812, the second in a row (financial year 2025)Last filed accounts filed 31 days late; 1 of the last 3 latelowers riskSize: total assets €594,932Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro): better than 13% on solvency, 20% on liquidity, 14% on profitability and 4% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 5 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Resignation: CLAVIE Olivier, Etienne, Georges (manager)Appointment: CLAVIE Olivier, Etienne, Georges…
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00464741.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €34,243 in 2025 against €35,695 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 1,216 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 95.8% are still going.
- Small
- 10 to 20 years old
- negative equity
- a small loss
A further 0.5% 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 497,445 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% | 0.9% |
| 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 74.5% 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 1,216 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,762 | €40,090 | €38,958 | €27,969 | €15,798 | €15,786 | €27,633 | €28,395 | ▲ 2.8% |
| Other operating charges640/8 | - | - | - | €3,149 | €34,371 | €1,914 | €2,144 | €2,042 | ▼ 4.8% |
| Gross operating margin9900 | €47,353 | €30,264 | €38,798 | €32,904 | -€14,982 | -€6,110 | -€5,917 | -€3,807 | ▲ 35.7% |
| Operating profit (loss)9901 | €781 | -€12,909 | -€3,282 | €1,787 | -€65,151 | -€23,811 | -€35,695 | -€34,243 | ▲ 4.1% |
| Recurring financial income75 | - | €41 | €33 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €4,823 | €6,625 | €974 | €1,867 | €569 | ▼ 69.5% |
| Recurring financial charges65 | €6,665 | €6,214 | €5,264 | €4,823 | €6,625 | €974 | €1,867 | €569 | ▼ 69.5% |
| Profit (loss) for the period before taxes9903 | -€5,884 | -€19,081 | -€8,513 | -€3,036 | -€71,775 | -€24,785 | -€37,562 | -€34,812 | ▲ 7.3% |
| Income taxes67/77 | €40 | €72 | €67 | - | €378 | €201 | - | - | - |
| Profit (loss) for the period9904 | -€5,925 | -€19,153 | -€8,580 | -€3,036 | -€72,154 | -€24,986 | -€37,562 | -€34,812 | ▲ 7.3% |
| Profit (loss) for the period to be appropriated9905 | -€5,925 | -€19,153 | -€8,580 | -€3,036 | -€72,154 | -€24,986 | -€37,562 | -€34,812 | ▲ 7.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.0m | €1.0m | €1.0m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 6.8% |
| Fixed assets21/28 | €1.1m | €1.0m | €1.0m | €0.9m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.7% |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €1.0m | €0.9m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.7% |
| Land and buildings22 | - | - | - | €0.9m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 3.3% |
| Furniture and vehicles24 | - | - | - | - | - | - | €0.03m | €0.01m | ▼ 48.5% |
| Financial fixed assets28 | €0.001m | €0.002m | €0.001m | €0.002m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.03m | €0.009m | €0.01m | €0.03m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 11.1% |
| Amounts receivable within one year40/41 | €0.001m | €0.002m | €0.001m | €0.02m | €0.004m | €0.001m | €0.001m | €0.001m | ▲ 9.9% |
| Trade receivables40 | - | - | - | €0.02m | - | - | - | €81 | - |
| Other amounts receivable41 | - | - | - | €0.001m | €0.004m | €0.001m | €0.001m | €0.001m | = |
| Cash at bank and in hand54/58 | €0.03m | €0.006m | €0.01m | €0.003m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 8.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.007m | €0.006m | €0.004m | €108 | ▼ 97.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.0m | €1.0m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 6.8% |
| Equity10/15 | €0.1m | €0.1m | €0.1m | €0.1m | €0.04m | €0.01m | -€0.02m | -€0.06m | ▼ 148% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | -€0.06m | -€0.08m | -€0.09m | -€0.09m | -€0.2m | -€0.2m | -€0.2m | -€0.3m | ▼ 15.6% |
| Amounts payable17/49 | €0.9m | €0.9m | €0.9m | €0.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 1.3% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.2m | €0.2m | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.2m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | - | - | - | - | - |
| Trade debts44 | €0.002m | €0.002m | €0.003m | €0.005m | €0.001m | €0.003m | €0.005m | €0.001m | ▼ 78.6% |
| Suppliers440/4 | - | - | - | €0.005m | €0.001m | €0.003m | €0.005m | €0.001m | ▼ 78.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.003m | - | - | - | - | - |
| Taxes450/3 | - | - | - | €0.003m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.006m | €0.003m | €0.003m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,925 | -€19,153 | -€8,580 | -€3,036 | -€72,154 | -€24,986 | -€37,562 | -€34,812 | ▲ 7.3% |
| + Depreciation and write-downs630 | €41,762 | €40,090 | €38,958 | €27,969 | €15,798 | €15,786 | €27,633 | €28,395 | ▲ 2.8% |
| Operating cash flow (approximation) | €35,837 | €20,938 | €30,378 | €24,932 | -€56,356 | -€9,199 | -€9,929 | -€6,417 | ▲ 35.4% |
| Investment in fixed assets (approximation) | - | -€1,402 | €728 | €10,604 | €418,987 | €0 | -€38,000 | €0 | - |
| Change in cash | - | -€23,327 | €5,128 | -€8,712 | €189,870 | -€9,725 | -€48,989 | -€11,769 | ▲ 76.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00464741 |
| 31-12-2024 | full format | 04-07-2025 | 2025-00231597 |
| 31-12-2023 | full format | 30-08-2024 | 2024-00440622 |
| 31-12-2022 | full format | 27-07-2023 | 2023-00277630 |
| 31-12-2021 | full format | 30-08-2022 | 2022-20342791 |
| 31-12-2020 | full format | 30-08-2021 | 2021-57800276 |
| 31-12-2019 | full format | 04-06-2020 | 2020-15300327 |
| 31-12-2018 | full format | 19-06-2019 | 2019-20600152 |
| 31-12-2017 | full format | 11-06-2018 | 2018-17400528 |
| 31-12-2016 | full format | 12-07-2017 | 2017-31000259 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| CLAVIE Olivier, Etienne, Georges |
|
Owners and capital
Capital and shareholders
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 08-10-2025 Converted to unavailable equity
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
08-10
Gazette deed
Resignation: CLAVIE Olivier, Etienne, Georges (manager)Appointment: CLAVIE Olivier, Etienne, Georges (director) · Shareholding · Amendment of the articles11 facts ▸
- General meeting, 02-10-2025
- Shareholding, CLAVIE Olivier, Etienne, Georges
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital
- Power of attorney, Arnaud Debouche
- Registered office clause, “1420 Braine-l'Alleud,avenue Alphonse Allard,144 boîte D32, CINQUIEME RESOLUTION actionnaire unique lieu et place assemblée générale” (deed in French)
- Director resignation, CLAVIE Olivier, Etienne, Georges (manager)
- Director appointment, CLAVIE Olivier, Etienne, Georges (director (not named in the articles))
- Director discharge, CLAVIE Olivier, Etienne, Georges (gérant démissionnaire)
- Power of attorney
14-04
Gazette deed
Resignations & appointmentsDirector in office2 facts ▸
- General meeting, 27-03-2023
- Director in office, Isabelle Clavie (director)
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the KBO register.
Av Alph Allard 1441420 Braine-l'Alleud1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25743G0189/00E000 | Wallonia | 7,037 m² | 1 · 1,353 m² | 5.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ISIMO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, Article 2” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Majorité simple des voix présentes ou représentées” (deed in French)“À chaque nomination l'assemblée générale décide si mandat exercé gratuitement, l'organe peut accorder aux administrateurs,directeurs ou…” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, actions” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnellement aux actions acquises, toutes cessions entre vifs à titre onéreux ou gratuit,volontaires…” (deed in French)“Interdit sans accord unanime organe d'administration, cessions entre vifs onéreuses/gratuites volontaires/forcées…” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Tout temps par décision assemblée générale délibérant formes modifications statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Article 2:80 dissolution et clôture en un seul acte, aucun liquidateur nommé” (deed in French)1 more provision on this in the deed