MIBIMMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 6 filings
Turnover
≈ €250,000
Estimated: probably between €130,000 and €540,000
Total assets
€1.3m▼ 1.1%
2024 · €1.3m
Net result
-€9,434
2024 · €2,136
Working capital
-€188,994▼ 14.5%
2024 · -€164,993
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€35,153
▲ 4.0%
2025
20202025
Net result
-€9,434
2025
lowest quarter of the sector
20202025
Equity
-€6,517
2025
lowest quarter of the sector
20202025
Total assets
€1.3m
▼ 1.1%
2025
highest quarter of the sector
20202025
Debt
€1.3m
▼ 0.3%
2025
20202025
Working capital
-€188,994
▼ 14.5%
2025
lowest quarter of the sector
20202025
Solvency
-0.5%
▼ 0.7pp
2025
lowest quarter of the sector
20202025
Current ratio
0.31
▲ 0.12
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-0.7%
▼ 0.9pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€50--€0.003m▼ 5,538%-€438▲ 84.5%€0.03m€0.03m▲ 0.1%€0.04m▲ 4.0%
Net result-€0.02mbelow the sector's middle half--€0.02mbelow the sector's middle half▼ 27.3%-€0.02mbelow the sector's middle half▼ 15.2%€0.008mwithin the sector's middle half€0.002mwithin the sector's middle half▼ 73.2%-€0.009mbelow the sector's middle half
Equity€0.03mwithin the sector's middle half-€0.02mwithin the sector's middle half▼ 56.1%-€0.007mbelow the sector's middle half€0.001mbelow the sector's middle half€0.003mbelow the sector's middle half▲ 274%-€0.007mbelow the sector's middle half
Total assets€0.04mbelow the sector's middle half-€0.4mwithin the sector's middle half▲ 978%€1.5mabove the sector's middle half▲ 261%€1.4mabove the sector's middle half▼ 6.6%€1.3mabove the sector's middle half▼ 5.2%€1.3mabove the sector's middle half▼ 1.1%
Debt€0.003m-€0.4m▲ 144×€1.5m▲ 277%€1.4m▼ 7.1%€1.3m▼ 5.3%€1.3m▼ 0.3%
Working capital€0.03mwithin the sector's middle half--€0.02mwithin the sector's middle half-€0.1mbelow the sector's middle half▼ 620%-€0.2mbelow the sector's middle half▼ 39.2%-€0.2mbelow the sector's middle half▼ 3.7%-€0.2mbelow the sector's middle half▼ 14.5%
Solvency92.8%above the sector's middle half-3.8%below the sector's middle half▼ 89.0pp-0.5%below the sector's middle half▼ 4.3pp0.1%below the sector's middle half▲ 0.6pp0.2%below the sector's middle half▲ 0.2pp-0.5%below the sector's middle half▼ 0.7pp
Current ratio13.86above the sector's middle half-0.81within the sector's middle half▼ 13.060.51within the sector's middle half▼ 0.300.23below the sector's middle half▼ 0.270.19below the sector's middle half▼ 0.040.31below the sector's middle half▲ 0.12
Return on assets (ROA)-40.9%below the sector's middle half--4.8%below the sector's middle half▲ 36.1pp-1.5%within the sector's middle half▲ 3.3pp0.6%within the sector's middle half▲ 2.1pp0.2%within the sector's middle half▼ 0.4pp-0.7%within the sector's middle half▼ 0.9pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 4% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.2m ▼ 4.9%
Current assets
€86,356 ▲ 123%
Equity and liabilities
Equity-€6,517
Debt€1.3m
Equity is negative. Debt (€1.3m) exceeds the balance-sheet total (€1.3m).
Key figures and ratios
EBITDA
€96,363▲
2024 · €95,016
Cash flow
€51,776▼
2024 · €63,346
Interest coverage
2.16▼
2024 · 3.00
Debt ≤ 1 year
€275,350▲
2024 · €203,798
Debt > 1 year
€1.0m▼
2024 · €1.1m
A ratio outside any meaningful range has been withheld (balance sheet total €1.3m, equity -€6,517).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | €750,000 | €750,000 | €1.1m |
| Mortgage mandates | - | - | €725,000 | €725,000 | €365,000 |
| Carrying value of the mortgaged assets | - | - | €1.3m | €1.3m | €1.2m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €337,117 | €1.3m | €34,261 | - | - |
| Depreciation and write-downs of the year | €32 | €19,374 | €61,210 | €61,210 | €61,210 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €32 | €19,374 | €61,210 | €61,210 | €61,210 | = |
| Other operating charges640/8 | - | €62 | €62 | €856 | €1,067 | €3,472 | ▲ 225% |
| Gross operating margin9900 | -€50 | -€2,735 | €18,998 | €95,827 | €96,084 | €99,835 | ▲ 3.9% |
| Operating profit (loss)9901 | -€50 | -€2,830 | -€438 | €33,761 | €33,806 | €35,153 | ▲ 4.0% |
| Financial income75/76B | - | - | €0 | €0 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | €0 | - | - |
| Financial charges65/66B | - | €16,644 | €21,989 | €25,777 | €31,670 | €44,587 | ▲ 40.8% |
| Recurring financial charges65 | €15,252 | €16,644 | €21,989 | €25,777 | €31,670 | €44,587 | ▲ 40.8% |
| Profit (loss) for the period before taxes9903 | -€15,302 | -€19,474 | -€22,428 | €7,985 | €2,136 | -€9,434 | - |
| Profit (loss) for the period9904 | -€15,302 | -€19,474 | -€22,428 | €7,985 | €2,136 | -€9,434 | - |
| Profit (loss) for the period to be appropriated9905 | -€15,302 | -€19,474 | -€22,428 | €7,985 | €2,136 | -€9,434 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.04m | €0.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 1.1% |
| Fixed assets21/28 | - | €0.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 4.9% |
| Tangible fixed assets22/27 | - | €0.3m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 4.9% |
| Land and buildings22 | - | €0.04m | €1.3m | €1.3m | €1.3m | €1.2m | ▼ 4.9% |
| Assets under construction and advance payments27 | - | €0.3m | €0 | - | - | - | - |
| Current assets29/58 | €0.04m | €0.07m | €0.1m | €0.05m | €0.04m | €0.09m | ▲ 123% |
| Amounts receivable within one year40/41 | €31 | €14 | €0.1m | €0.05m | €0.04m | €0.08m | ▲ 109% |
| Trade receivables40 | - | - | - | €0.01m | €0.01m | €0.01m | ▼ 4.8% |
| Other amounts receivable41 | - | €14 | €0.1m | €0.04m | €0.03m | €0.07m | ▲ 158% |
| Cash at bank and in hand54/58 | €0.04m | €0.07m | €0.01m | €0 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.001m | €0.001m | €0.007m | ▲ 715% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.04m | €0.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 1.1% |
| Equity10/15 | €0.03m | €0.02m | -€0.007m | €0.001m | €0.003m | -€0.007m | - |
| Contributions10/11 | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | -€0.02m | -€0.03m | -€0.06m | -€0.05m | -€0.05m | -€0.06m | ▼ 20.0% |
| Amounts payable17/49 | €0.003m | €0.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 0.3% |
| Amounts payable after more than one year17 | - | €0.3m | €1.2m | €1.2m | €1.1m | €1.0m | ▼ 7.0% |
| Financial debts170/4 | - | €0.3m | €1.2m | €1.2m | €1.1m | €1.0m | ▼ 7.0% |
| Amounts payable within one year42/48 | €0.003m | €0.08m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 35.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0.04m | €0.08m | €0.08m | €0.08m | ▲ 7.0% |
| Financial debts43 | - | - | - | - | - | €78 | - |
| Credit institutions430/8 | - | - | - | - | - | €78 | - |
| Trade debts44 | €0.002m | €0.02m | €0.05m | €0.005m | €0.005m | €0.008m | ▲ 55.9% |
| Suppliers440/4 | - | €0.02m | €0.05m | €0.005m | €0.005m | €0.008m | ▲ 55.9% |
| Taxes, remuneration and social security45 | - | - | €0.03m | €0.005m | €0.005m | €0.01m | ▲ 102% |
| Taxes450/3 | - | - | €0.03m | €0.005m | €0.005m | €0.01m | ▲ 102% |
| Other amounts payable47/48 | - | €0.06m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 49.6% |
| Accrued charges and deferred income492/3 | - | - | - | €62 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.02m | -€0.02m | -€0.02m | €0.008m | €0.002m | -€0.009m | - |
| + Depreciation and write-downs630 | - | €32 | €0.02m | €0.06m | €0.06m | €0.06m | = |
| Operating cash flow (approximation) | -€0.02m | -€0.02m | -€0.003m | €0.07m | €0.06m | €0.05m | ▼ 18.3% |
| Investment in fixed assets (approximation) | - | - | -€1.0m | -€0.03m | €0 | €0 | - |
| Change in cash | - | €0.03m | -€0.06m | -€0.01m | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,167 companies had the same profile as MIBIMMO has now. Two years later, 94.9% were still going and 2.0% had gone bankrupt.
- Small
- 5 to 10 years old
- negative equity
- a small loss
94.9%
was still going
2.8%
stopped otherwise
2.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MIBIMMO itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,167 companies, not a prediction for MIBIMMO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00328690 | |
| 31-12-2024 | micro format | 10-06-2025 | 2025-00127764 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00170564 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00150666 | |
| 31-12-2021 | micro format | 21-06-2022 | 2022-20076285 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-24800410 |