MORPHIMMO
ActiveSummary
MORPHIMMO has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €110,779 and a net result of €12,472. Equity is growing by about 10% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- €110,779
- Profit
- €12,472
Why 87raises riskNo registered site in the KBONo main activity registeredlowers riskSize: total assets €143,263Founded in 2006Show the evidence
Checked score
About 3 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 (no NACE code, micro): better than 81% on solvency, 51% on liquidity, 63% on profitability and 70% on growth.
The bankruptcy probability was computed on 22-10-2026 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 3 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €12,472 ▲28%
- Equity above €100,000equity €110,779 ▲12.7%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 24% above 2024 and is the highest result in the available series.
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.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 31,372 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,473 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% | 1.8% |
| 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 31,372 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 | €10,409 | €8,922 | €8,922 | €8,489 | €8,680 | €9,075 | €9,561 | €9,385 | ▼ 1.8% |
| Other operating charges640/8 | - | - | - | €8,757 | €8,701 | €9,925 | €10,484 | €10,381 | ▼ 1.0% |
| Gross operating margin9900 | €30,194 | €40,470 | €35,647 | €31,446 | €32,614 | €26,796 | €35,878 | €39,365 | ▲ 9.7% |
| Operating profit (loss)9901 | €11,108 | €22,966 | €18,283 | €14,200 | €15,233 | €7,795 | €15,832 | €19,599 | ▲ 23.8% |
| Financial income75/76B | - | - | - | - | - | €23 | - | €12 | - |
| Recurring financial income75 | €0 | €0 | - | - | - | €23 | - | €12 | - |
| Financial charges65/66B | - | - | - | €3,264 | €2,672 | €1,917 | €1,473 | €1,257 | ▼ 14.7% |
| Recurring financial charges65 | €5,159 | €4,359 | €3,821 | €3,264 | €2,672 | €1,917 | €1,473 | €1,257 | ▼ 14.7% |
| Profit (loss) for the period before taxes9903 | €5,949 | €18,608 | €14,462 | €10,936 | €12,561 | €5,901 | €14,359 | €18,354 | ▲ 27.8% |
| Income taxes67/77 | €2,386 | €6,860 | €6,068 | €3,509 | €4,032 | €1,808 | €4,613 | €5,882 | ▲ 27.5% |
| Profit (loss) for the period9904 | €3,563 | €11,748 | €8,394 | €7,427 | €8,529 | €4,094 | €9,746 | €12,472 | ▲ 28.0% |
| Profit (loss) for the period to be appropriated9905 | €3,563 | €11,748 | €8,394 | €7,427 | €8,529 | €4,094 | €9,746 | €12,472 | ▲ 28.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €194,167 | €192,959 | €192,158 | €178,246 | €166,908 | €164,038 | €159,394 | €143,263 | ▼ 10.1% |
| Fixed assets21/28 | €181,415 | €174,618 | €165,697 | €157,208 | €149,980 | €145,428 | €135,866 | €126,481 | ▼ 6.9% |
| Tangible fixed assets22/27 | €181,415 | €174,618 | €165,697 | €157,208 | €149,980 | €145,428 | €135,866 | €126,481 | ▼ 6.9% |
| Land and buildings22 | - | - | - | €155,884 | €148,294 | €140,704 | €133,114 | €125,525 | ▼ 5.7% |
| Plant, machinery and equipment23 | - | - | - | €1,324 | €425 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €1,261 | €4,723 | €2,752 | €957 | ▼ 65.2% |
| Current assets29/58 | €12,752 | €18,340 | €26,461 | €21,038 | €16,929 | €18,610 | €23,528 | €16,781 | ▼ 28.7% |
| Amounts receivable within one year40/41 | - | - | - | €1,444 | €2,516 | €1,779 | €1,803 | €1,132 | ▼ 37.2% |
| Other amounts receivable41 | - | - | - | €1,444 | €2,516 | €1,779 | €1,803 | €1,132 | ▼ 37.2% |
| Cash at bank and in hand54/58 | €12,752 | €18,340 | €26,461 | €19,122 | €14,413 | €16,333 | €21,129 | €15,171 | ▼ 28.2% |
| Deferred charges and accrued income490/1 | - | - | - | €473 | - | €498 | €595 | €479 | ▼ 19.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €194,167 | €192,959 | €192,158 | €178,246 | €166,908 | €164,038 | €159,394 | €143,263 | ▼ 10.1% |
| Equity10/15 | €48,370 | €60,118 | €68,512 | €75,938 | €84,468 | €88,561 | €98,307 | €110,779 | ▲ 12.7% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,967 | €25,715 | €34,109 | €41,536 | €50,065 | €54,159 | €63,905 | €76,377 | ▲ 19.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €39,676 | €48,205 | €54,159 | €63,905 | €76,377 | ▲ 19.5% |
| Profit (loss) carried forward14 | €15,803 | €15,803 | €15,803 | €15,803 | €15,803 | €15,803 | €15,803 | €15,803 | = |
| Amounts payable17/49 | €145,797 | €132,841 | €123,646 | €102,307 | €82,440 | €75,476 | €61,086 | €32,483 | ▼ 46.8% |
| Amounts payable after more than one year17 | €102,231 | €88,157 | €73,517 | €58,288 | €41,099 | €25,969 | €8,828 | - | - |
| Financial debts170/4 | - | - | - | €58,288 | €41,099 | €25,969 | €8,828 | - | - |
| Amounts payable within one year42/48 | €43,567 | €44,684 | €50,129 | €44,019 | €41,342 | €49,508 | €52,259 | €32,483 | ▼ 37.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,229 | €15,651 | €16,236 | €16,899 | €8,828 | ▼ 47.8% |
| Trade debts44 | - | - | - | €348 | €102 | €9,154 | €10,450 | - | - |
| Suppliers440/4 | - | - | - | €348 | €102 | €9,154 | €10,450 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,754 | €2,022 | - | €2,087 | €882 | ▼ 57.8% |
| Taxes450/3 | - | - | - | €4,754 | €2,022 | - | €2,087 | €882 | ▼ 57.8% |
| Other amounts payable47/48 | - | - | - | €23,689 | €23,566 | €24,117 | €22,822 | €22,774 | ▼ 0.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,563 | €11,748 | €8,394 | €7,427 | €8,529 | €4,094 | €9,746 | €12,472 | ▲ 28.0% |
| + Depreciation and write-downs630 | €10,409 | €8,922 | €8,922 | €8,489 | €8,680 | €9,075 | €9,561 | €9,385 | ▼ 1.8% |
| Operating cash flow (approximation) | €13,972 | €20,670 | €17,316 | €15,915 | €17,209 | €13,169 | €19,307 | €21,857 | ▲ 13.2% |
| Investment in fixed assets (approximation) | - | -€2,125 | €0 | €0 | -€1,452 | -€4,523 | €0 | €0 | - |
| Change in cash | - | €5,588 | €8,121 | -€7,340 | -€4,709 | €1,921 | €4,796 | -€5,959 | - |
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 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 27-07-2026 | 2026-00334920 |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00268675 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00405962 |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00378665 |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20274516 |
| 31-12-2020 | micro format | 09-07-2021 | 2021-32800555 |
| 31-12-2019 | micro format | 23-07-2020 | 2020-32600095 |
| 31-12-2018 | micro format | 11-09-2019 | 2019-63900007 |
| 31-12-2017 | micro format | 12-07-2018 | 2018-31500456 |
| 31-12-2016 | micro format | 21-09-2017 | 2017-61400462 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| BLAIRVACQ Emmanuel |
|
Owners and capital
Capital and shareholders
- 29-05-2024 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
29-05
Gazette deed
Reappointment: BLAIRVACQ Emmanuel (director)Permanent representative: BLAIRVACQ Emmanuel · Capital conversion · Reserve release11 facts ▸
- General meeting, 26-12-2023
- Other provision, “Conservation forme SRL et adaptation statuts au CSA, adapter statuts et conserver forme société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, “supprimer compte indisponible et rendre fonds disponibles pour distribution, respect du double test de l’actif net et de liquidité” (deed in French)
- Other provision, “distributions bénéfice exercice en cours ou bénéfice précédent, Distribution acomptes sur dividendes” (deed in French)
- Amendment of the articles
- Capital
- Director reappointment, BLAIRVACQ Emmanuel (director (not named in the articles))
- Permanent representative, BLAIRVACQ Emmanuel
- Registered office clause, “4000 Liège,Avenue Rogier 28, toute communication vers cette adresse par actionnaires,titulaires de titres et certificats réputée intervenue valablement” (deed in French)
- Power of attorney
30-01
Gazette deed
Legal-form change · Resignations & appointmentsGeneral meeting1 fact ▸
- General meeting, 26-12-2023
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 22 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
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62805B0476/00A024 | Wallonia | 680 m² | 1 · 214 m² | 36.5 m · 11 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La société a pour objet,tant en Belgique qu’à l’étranger,la gestion,pour compte propre,de tous ses biens ou droits immobilières,et…” (deed in French)
2 activities (deed in French)
- La société a pour objet,tant en Belgique qu’à l’étranger,la gestion,pour compte propre,de tous ses biens ou droits immobilières,et notamment,l’acquisition,la vente,la location,le leasing,la promotion,l’aménagement,l’exploitation,la transformation,la viabilisation,le lotissement et/ou la valorisation de tous ses biens ou droits immobilières
- Elle peut accomplir toutes opérations généralement quelconques se rapportant directement ou indirectement à son objet
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MORPHIMMO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, tout endroit Région wallonne ou région langue française de Belgique” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, 1” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Pli recommandé à organe d’administration avec noms,prénoms,domiciles cessionnaires et nombre actions, valeur fixée à dires d’expert commun…” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last day of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale délibérant dans formes prévues pour modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Pour quelque cause et à quelque moment, désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)